Category: inflation

Modifications: Interest reduction, Principal reduction, Payment reduction, and Term increase

April 8, 2014

In the financial world we don’t measure just the amount of principal. For example if I increased your mortgage principal by $100,000 and gave you 100 years to pay without interest it would be nearly equivalent to zero principal too (especially factoring in inflation). A reduction in the interest rate has an effect on the overall amount of money due from the borrower if (and this is an important if) the borrower is given 40 years to pay AND they intend to live in the house for that period of time. To the borrower the reduction in interest rate and

British Government Getting Tough on Bankers

July 8, 2012

The Barclay Libor rigging scandal is apparently the straw that broke the Camel’s back in Great Britain. With various investigations of their co-conspirators in artificially creating moments in interest rates, the scam is unraveling. And in the balance, lies between $500 and $600 TRILLION dollars. How could that much money be effected when all the money in the world amounts to less than $70 Trillion? What the hell IS money anyway? All these things are becoming less exotic and increasingly the subject of investigation, prosecution, conviction and sentencing in every place but the United States, where at this point in

3,900,000 Visits and Moving Faster. OUR 3RD ANNIVERSARY — THANK YOU!!

October 3, 2010

SUBSCRIBE TO LIVINGLIES MEMBERSHIP FOR DISCOUNTED SERVICES, NEWSLETTER AND FREE TELECONFERENCES Livinglies fulfills its commitment to becoming the #1 internet resource in foreclosure defense and offense (claims for damages for wrongful foreclosure or improper lending practices). DON’T ASSUME YOUR LOAN IS IN DEFAULT — IT PROBABLY ISN’T EVEN IF YOU DIDN’T MAKE A PAYMENT! DON’T ASSUME YOU OWE THE MONEY! DON’T ASSUME YOU ARE UNDERWATER — YOU HAVE CLAIMS THAT MAY MORE THAN OFFSET THE LOSS! DON’T ASSUME YOU HAVE A MORTGAGE — YOU MAY HAVE A DEBT BUT IT PROBABLY IS UNSECURED! DON’T ASSUME THAT YOU DID SOMETHING WRONG!

NON-DISCLOSURE DETAILS FROM THE OTHER SIDE

August 11, 2010

ONE MORE QUESTION TO ASK IN DISCOVERY: WHAT ENTITIES WERE CREATED OR EMPLOYED IN THE TRADING OF MORTGAGE BONDS, CDO’S, SYNTHETIC CDO’S OR TOTAL RETURN SWAPS (NEW TERM)? EDITOR’S COMMENT: LOUISE STORY, in her article in the New York Times continues to dig deeper into the games played by Wall Street firms. You’ll remember that the executives of the major Wall Street firms were spouting off the message that the risks and consequences were unknown to them. They didn’t know anything was wrong. Maybe they were stupid or distracted. And maybe they were just plain lying. The risks to these

Tax Apocalypse for States and Federal Government Can be Reversed: Show Me the Money!

March 31, 2010

SEE states-look-beyond-borders-to-collect-owed-taxes states-ignore-obvious-remedy-to-fiscal-meltdown tax-impact-of-principal-reduction accounting-for-damages-madoff-ruling-may-affect-homeowner-claims taxing-wall-street-down-to-size-litigation-guidelines taking-aim-at-bonuses-based-on-23-7-trillion-in-taxpayer-gifts payback-timemany-see-the-vat-option-as-a-cure-for-deficits As we have repeatedly stated on this blog, the trigger for the huge deficits was the housing nightmare conjured up for us by Wall Street. Banks made trillions of dollars in profits that were never taxed. The tax laws are already in place. Everyone is paying taxes, why are they not paying taxes? If they did, a substantial portion of the deficits would vanish. Each day we let the bankers control our state executives and legislators, we fall deeper and deeper in debt, we lose more social services and it endangers our

Residential Funding Real Estate Holdings, LLC – Option One Mortgage Corporation

March 1, 2010

from June Reyno: 2010/03/30 at 2:43pm Once all of this information has been compiled with all their names, titles, addresses, signatures, company affiliation– we should then begin submitting these (i.e. notary public signatures) to various state agencies for confirmation and verification that these “people” are actually who say they are on the paper closing statements (if it can be found) along with the foreclosure processing paperwork from the mortgage servicers. The real class liars in the industry. These notary public “signatures” can in fact be confirmed because they must be registered with the State Dept. We can demand a “viewing”

Man Sends Message to Banks-Bulldozes $350k House

February 21, 2010

Sending Banks a Message – Cincinnati OH – Click Here to View Video “The average homeowner that can’t afford an attorney or can fight as long as we have, they don’t stand a chance,” he said. Hoskins said he’d gotten a $170,000 offer from someone to pay off the house, but the bank refused, saying they could get more from selling it in foreclosure. Hoskins told News 5’s Courtis Fuller that he issued the bank an ultimatum. “I’ll tear it down before I let you take it,” Hoskins told them. And that’s exactly what Hoskins did. Editors Note – The borrower actually had equity

The Elephant in the Room – Well One of Many…

August 7, 2009

By Brad Keiser For those of you who have been to our seminars, (coming to Southern California next month) You have heard me ask about Hank Paulson and Ben Bernanke…”Are they stupid or were they lying when they said everything was OK through out all of 2007 and most of 2008?” You have seen and heard why Neil and I declare we are of the belief that there is simply “not enough money in the world to solve this problem.” Fannie Mae’s (FNM) 8k has an interesting slide of their questionable assets in the supplement. It can be found below along with the complete 2009 Second Quarter filing. The report describes

A Reality Check on Mortgage Modification: NY Times Gretchen Morgenson

April 26, 2009

Unfortunately, the bill would not only pay institutions handsomely for each modification they do — at $1,000 each, a bounty that could reach $10 billion — but it would also create opportunities for mortgage servicers to profit at the expense of investors who own the loans. Gretchen Morgenson deserves Kudos for her attempts to disclose the reality of the foreclosure scam that is ongoing. She is correctly identifying the factors that have enabled the predators and thieves to get paid multiple times and now to get immunity for their misdeeds that gave rise to the problems in first place. The

Florida Petition Seeks Mediation of Foreclosures

March 11, 2009

As reported in the Florida Bar News dated March 1, 2009, The Supreme Court of Florida has received a petition to require foreclosure mediation. The article by Mark D Killian, managing editor states “Contending that prejudgment mediation could save more than 130,000 Florida homes from foreclosure and assist more than 360,000 borrowers,” the plan is almost a verbatim acceptance of the plan submitted by Neil Garfield almost one year ago. The plan would apply to owner-occupied primary residential dwellings. “The February petition urging the Court to invoke its emergency rule-making authority says one of ‘the most frustrating realities for many

QUANTS — The Guys Behind the Guise

March 10, 2009

it follows that the investors are the ONLY parties with standing to make any claim on the mortgage, note or obligation. But they won’t make that claim because of the exposure to risk that could leave them with even more loss than the current loss on their investment. This leaves trillions of dollars in unclaimed proceeds. The question is who should get it. Obviously it was the financially sophisticated intermediaries who were able to step in and bluff the court system and recording offices into accepting fraudulent, fabricated and forged documentation. 98% of the foreclosures end up with these intermediaries

World Savings Knew It was Acting Illegally and Committing Fraud

February 17, 2009

main4801309.shtml Editor’s Note: They all knew. It’s up to you to stand up and challenge them to prove the basic assertions — even the sending of a monthly statement is potentially an act of fraud since neither the servicer nor the party with whom they entered into the Pooling and Service Agreement had or have any authroity to continue.

Let's Hear It For Sherriff Evans: Federal bailout act protections preempt State foreclosure

February 5, 2009

The only thing necessary for evil to triumph is for good men to do nothing -Edmund Burke Release Date: February 2, 2009 Contact: Ofc. John Roach, 313-224-0615 Evans halts sale of foreclosed homes o Sheriff says move is necessary to ensure homeowners´ rights o Federal bailout act protections preempt State foreclosure law, Evans says DETROIT, Michigan – Sheriff Warren Evans announced today that he is stopping all mortgage foreclosure sales handled through his office and urged other Michigan sheriffs to take similar action. Evans said a thorough review of federal law has determined that to continue foreclosure sales would conflict with

"System is Broken" — there is no clear title and no clear answers, which is why most foreclosure actions should fail or be reversed

January 28, 2009

Mortgage market clouds who owns woman’s house Submitted by Jose Semedey — Thank You By CARRIE TEEGARDIN The Atlanta Journal-Constitution Sunday, January 25, 2009 Twenty years ago, Zella Mae Green bought a modest brick ranch house in DeKalb County with an American ideal in mind. The single mother of four, who raised her children working low-wage jobs, wanted to own something someday. And she wanted to pass something on. “I was thinking that if anything would ever happen to me, the children would have a place they could come and stay,” said Green, a seamstress who is 68. “Their father

Appraisal Fraud and Industry Standards Described in 2003 Official White Paper-RED FLAGS DESCRIBED IN DETAIL WITH EXCELLENT DIAGRAMS EXPLANATIONS AND DESCRIPTIONS OF BEST PRACTICES

January 9, 2009

loan_origination_mortgage_fraud_ffiec loan_origination_mortgage_fraud_prevention_response_nelson Red Flags • Critical loan processing activities, such as verification of income, employment, or deposit, is delegated to brokers. • Delegated underwriting allowed for correspondents that are new or lack an established track record with the FI. • A growing number of loans is being repurchased due to misrepresentations by the FI under purchase and sale agreements with secondary market investors. The originating FI may suffer significant financial losses in the event of a large and unforeseen fraud. • Third party mortgage loan fraud is not covered in standard fidelity bond insurance. • Tax returns show RE taxes

FIGURING OUT THE ECONOMICS OF OUR AMERICAN MELTDOWN FRAUD

January 7, 2009

Gump59 – Why buy performing mortgages? If they are producing income for their owners, why wouldn’t they be held onto? > ANSWER: You’d buy a performing mortgage if you thought that you were buying it at a bargain, guaranteed with Triple AAA rating. If you buy a mortgage note that has a principal balance due of $500,000 and the stated interest rate is 6% you are expecting $30,000 in income. But if you think you are buying it for $250,000, and still getting $30,000 per year, then you are getting 12% plus a $250,000 bonus (when the note gets paid

Would You Pay $103,000 for This Arizona Fixer-Upper? — Appraisal Fraud, Predatory Loan, Securitization in its "finest" moment

January 4, 2009

Would You Pay $103,000 for This Arizona Fixer-Upper? That Was Ms. Halterman’s Mortgage on It; ‘Unfit for Human Occupancy,’ City Says By MICHAEL M. PHILLIPS AVONDALE, Ariz. — The little blue house rests on a few pieces of wood and concrete block. The exterior walls, ravaged by dry rot, bend to the touch. At some point, someone jabbed a kitchen knife into the siding. The condemnation notice stapled to the wall says: “Unfit for human occupancy.” View Slideshow Michael Phillips/The Wall Street Journal See photos of Ms. Halterman’s former house. The story of the two-bedroom, one-bath shack on West Hopi

HAPPY NEW YEAR !!! (I THINK)

January 2, 2009

Happy New Year! We have much to talk about this year as we push forward. By all accounts, the economy, the dollar, the foreclosures, the job situation etc are all getting worse by the minute. Even if Obama is a magician it will be 2 years before there is a glimmer of hope. The homeowner aid programs are window dressing. Even the Sheila Bair one from FDIC/Indy Mac while well-intentioned does little for most homeowners. The ONLY hope for homeowners and the only hope for our economy is if we face the music and take the free market enthusiasts at

Trustee for Investors: Powers and Limitations (with livinglies annotations)— Critical in Your Presentation in Court

December 31, 2008

The complete Trustee powers from a standard Pooling and Servicing agreement: Section 8.01 Duties of the Trustee. The Trustee, before the occurrence of an Event of Default and after the curing of all Events of Default that may have occurred, shall undertake to perform such duties and only such duties as are specifically set forth in this Agreement. In case an Event of Default has occurred and remains uncured, the Trustee shall exercise such of the rights and powers vested in it by this Agreement, and use the same degree of care and skill in their exercise as a prudent

WORKSHOPS COMING UP 8 CA CLE & 9.5 FLA CLE CREDITS

December 17, 2008

PLEASE SUPPORT THIS SITE !!! donation-form-1108 Florida Bar Approves Garfield Continuum for 9.5 CLE Credits Lawyers Workshop Registration Form – November 2, 2009 Homeowners Workshop Registration Form – November 1, 2009 What Lawyers Are Saying About Neil Garfield\’s Seminars covered-in-the-garfield-continuum-workshops-you-can-look-this-stuff-up-in-wikopedia REQUIRED READING: appraisal-fraud-and-industry-standards-described-in-2003-official-white-paper-red-flags-described-in-detail-with-excellent-diagrams-explanations-and-descriptions-of-best-practices Work and Play in Sunny Clearwater Beach FL How to Save $$ while attending Garfield Event(s) Clearwater Beach FL November 1-2, 2009 * Reserve Workshop Seat prior to Oct 23, 2009 for Early Bird discount on Registration * Mention Garfield’s Foreclosure Defense Group when reserving rooms to get special Group Rate of $99 * Check into flying into Tampa/St. Petersburg and other airports within a short drive multiple

Missal Report Documents New Century Predatory Lending Even After General Counsel Warned Against It — Borrowers May Have Cause of Action Against Auditor KPMG

December 6, 2008

Report: New Century’s GC Warned Managers of Subprime Danger Sue Reisinger Corporate Counsel March 31, 2008 Listening to its general counsel might well have saved New Century Financial Corp., once the nation’s second-largest subprime mortgage lender, from plunging into bankruptcy a year ago. That’s one lesson from a 581-page report filed Wednesday by Michael Missal.A partner at Kirkpatrick & Lockhart Preston Gates Ellis, Missal was appointed by New Century’s bankruptcy trustee to investigate the company’s problems. Missal wrote that former New Century general counsel Stergios “Terry” Theologides recognized the high risk of subprime mortgages and warned senior managers about it

MORTGAGE INDUSTRY KNOWS THEY HAVE CHAIN OF TITLE PROBLEMS: COMPANIES SPRINGING UP TO "CORRECT" (I.E, CREATE) DOCUMENTS

December 5, 2008

STRAIGHT OFF THE NET THANKS TO READER ALLON HILL IS THE NAME OF THIS PARTICULAR COMPANY. I’M SURE THERE ARE DOZENS OF OTHERS. Assignment Recording Residential or commercial, Agency or private delivery, Allon Hill offers a complete menu of mortgage assignment services. In the past 14 years, Allon Hill has prepared and recorded over 5 million assignments in 2,300 jurisdictions in 50 states. Every document required for each loan is tracked in our database, ensuring accurate information and follow-up regardless of the requested volume. Document Products: Assignments Allonges Lost Note Affidavits Satisfactions/Reconveyences UCC Financing Statements Warranty Deeds/Other Quitclaim instruments Services

From July CNN: Merrill and Others Knew they were selling junk at Triple AAA ratings

December 5, 2008

securities consultant says Merrill Lynch knew or should have known the securities they brought to market where overrated (From her website: “She wrote the first letter the SEC posted in February 2007 in response to its proposed rules for the credit rating agencies; she made the case that the NRSRO designation for the rating agencies should be revoked for structured financial products.”): http://money.cnn.com/video/#/video/news/2008/07/31/news.073108.tavoli.cnnmoney “I misspoke earlier in the interview. I meant to say recent mortgage lending is the largest Ponzi scheme (not “one of the largest”) in the history of the financial markets. The mortgage lending business model is not

Appraisal and Ratings Fraud Documented

December 1, 2008

From Mario Kenny — see comments posted to blog As we have stated repeatedly, the logistics were simple: (a) inflate the value of the mortgage backed securities with fraudulently obtained Triple AAA Ratings and (b) inflating the value of the home with fraudulent and negligent use of false comparable and ignoring time factors. The economics of lending changed “upside down” — by hiding a mountain of toxic waste loans behind a thin veneer of high quality borrowers, Wall Street was able sell securities at many times their actual value producing unprecedented and unconscionable profits. They were in essence stealing the

Category: inflation

British Government Getting Tough on Bankers

3,900,000 Visits and Moving Faster. OUR 3RD ANNIVERSARY — THANK YOU!!

NON-DISCLOSURE DETAILS FROM THE OTHER SIDE

Tax Apocalypse for States and Federal Government Can be Reversed: Show Me the Money!

Residential Funding Real Estate Holdings, LLC – Option One Mortgage Corporation

Man Sends Message to Banks-Bulldozes $350k House

The Elephant in the Room – Well One of Many…

A Reality Check on Mortgage Modification: NY Times Gretchen Morgenson

Florida Petition Seeks Mediation of Foreclosures

QUANTS — The Guys Behind the Guise

World Savings Knew It was Acting Illegally and Committing Fraud

Let's Hear It For Sherriff Evans: Federal bailout act protections preempt State foreclosure

"System is Broken" — there is no clear title and no clear answers, which is why most foreclosure actions should fail or be reversed

Appraisal Fraud and Industry Standards Described in 2003 Official White Paper-RED FLAGS DESCRIBED IN DETAIL WITH EXCELLENT DIAGRAMS EXPLANATIONS AND DESCRIPTIONS OF BEST PRACTICES

FIGURING OUT THE ECONOMICS OF OUR AMERICAN MELTDOWN FRAUD

Would You Pay $103,000 for This Arizona Fixer-Upper? — Appraisal Fraud, Predatory Loan, Securitization in its "finest" moment

HAPPY NEW YEAR !!! (I THINK)

Trustee for Investors: Powers and Limitations (with livinglies annotations)— Critical in Your Presentation in Court

WORKSHOPS COMING UP 8 CA CLE & 9.5 FLA CLE CREDITS

Missal Report Documents New Century Predatory Lending Even After General Counsel Warned Against It — Borrowers May Have Cause of Action Against Auditor KPMG

MORTGAGE INDUSTRY KNOWS THEY HAVE CHAIN OF TITLE PROBLEMS: COMPANIES SPRINGING UP TO "CORRECT" (I.E, CREATE) DOCUMENTS

From July CNN: Merrill and Others Knew they were selling junk at Triple AAA ratings

Appraisal and Ratings Fraud Documented

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