DISCOVERY: THE MOST POWERFUL TOOL YOU’RE NOT USING IN FORECLOSURE In our experience, one thing remains true across nearly every foreclosure case we see: discovery is your best shot at exposing the truth and forcing the banks to show their cards. But here’s the real tragedy—most homeowners never use it. They sit back, trusting the system or a …
How do you know what was paid by whom and when and what terms applied? The whole point here is that money was paid by investors who did not receive ownership to the debt, note or mortgage. Nor did they assign any equitable right to the debt, note or mortgage. Since the value was paid …
The real question is when government agencies and regulators PLUS law enforcement get the real message: Wells Fargo’s behavior in the account scandal is the tip of the iceberg and important corroboration of what most of the country has been saying for years — their business model is based upon fraud. Wells Fargo has devolved …
The crux of this fight is that if the foreclosing parties are forced to identify the creditors they will only have two options, in my opinion: (a) commit perjury or (b) admit that they have no knowledge or access to the identity of the creditor Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or …
Based on the totality of the circumstances, the Court concludes that CashCall, not Western Sky, was the true lender. CashCall, and not Western Sky, placed its money at risk. It is undisputed that CashCall deposited enough money into a reserve account to fund two days of loans, calculated on the previous month’s daily average and …
The fundamental problem is that while virtually anyone can be accepted as an expert, the weight given to their testimony is zero. The reason is simple. The author most often lacks any traditional credentials other than experience as a “forensic analyst” and their work product sounds pretty good to the homeowner but sounds like advocacy …
The FCCPA is one of those statutes that are often missed opportunities to hold the banks and servicers accountable for illegal conduct. It is like “Mail Fraud” which only applies to US Postal Services (the reason why servicers prefer to communicate through Fedex or other private mail carriers. REMEMBER THE ONE YEAR STATUTE OF LIMITATIONS. …
This lawsuit reveals a reason for Chase slipping in a new servicer into the chain. Having already discharged or released a loan, the “accounts” were nonetheless transferred or sold in derogation of the rights of investors who had already purchased them from Chase. Chase decreased its liabilities, increased its revenues, avoided its obligations, and provided …
CHASE FALSE CLAIMS COMPLAINT REVEALED IN INVESTOR LAWSUIT Read More »
Lehman had nothing to do with the loan even at the beginning when the loan was funded, it acted as a conduit for investor funds that were being misappropriated, the loan was “sold” or “transferred” to a REMIC Trust, and the assets of Lehman were put into a bankruptcy estate as a matter of law. …
FDCPA and FCCPA (or similar state legislation) claims are getting traction across the country. Bank of America violated the federal Fair Debt Collection Practices Act (“FDCPA”) and the related Florida Consumer Collection Practices Act (“FCCPA”). (Doc. 26). The Goodin case is a fair representation of the experience of hundreds of thousands of homeowners who have …
What is apparent is that the trusts never came into legal existence both because they were never funded and because they were in many cases never signed. Failure to execute and failure to fund the trust reduces the “trust” to a pile of ashes. THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU …
We get it. Judges don’t like statutory rescission under TILA. They are not required to like TILA rescission but they are required to follow it. This decision openly defies the SCOTUS ruling and refuses to apply it. Despite clear legislative intent to prevent banks from stonewalling rescission they are succeeding in doing so nonetheless as …
Jesinoski Update: Homeowner, Bank and Court All Get it Wrong Read More »
The court held that the FDCPA unambiguously requires any debt collector – first or subsequent – to send a section 1692g(a) validation notice within five days of its first communication with a consumer in connection with the collection of any debt. THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN …
1sT Appellate District US Bank v Naifeh: “… we conclude that a borrower may rescind the loan transaction under TILA without filing a lawsuit, but when the rescission is challenged in litigation, the court has authority to decide whether the rescission notice is timely and whether the the procedure set forth in the TILA (sic) …
In addition to defrauding the borrower whose signature will be copied and fabricated for dozens of “sales” of loans and securities deriving their value from a nonexistent loan contract, this distorted practice does two things: (a) it cheats investors out of their assumed and expected interest in nonexistent mortgage loan contracts and (b) it leaves …
Virtually none of the nonjudicial or judicial foreclosures can be won by banks without use of legal presumptions that lead the court to assume facts that are plainly untrue. The bottom line is that the rules of evidence require proof of the transaction chain with no right to rely on legal presumptions. The banks can’t …
So for the people who are unemployed due to a recession that won’t really quit until the money stolen from the system is somehow replaced or clawed back, you have a job waiting for you if you can sleep at night knowing that if your activities are exposed, the bank will disavow your “irresponsible” actions, …
It was impossible to trace the majority of the mortgage loans on the over 300 homes sold by DSI that were the subject of the FBI investigation; it would have been harder yet to identify individual victims of the fraud given that the mortgages were securitized and traded. (Emphasis added.) THE FOLLOWING ARTICLE IS NOT …
Not even the Federal Government Can Determine Who owns Your Loan Read More »
“Because I said so” or “because I already did it” is not a recognizable legal ground for possession of property even after the forced sale of the property. In an action for possession of property, the taker must establish that it is the legal owner and that the ownership was obtained lawfully and properly. The …
VA Court Finally Recognizes Circular Reasoning of the Banks Read More »
In the mortgage world “successor by merger” is simply a living lie that continues as you read this article. Like many other major illusions in our world economy, the Chase-WAMU merger was nothing more than illusion The reason for the rebellion showing up as votes for Sanders and trump and the impending exit of the …
Someone needs to go back to the Declaration of Independence. Government exists only by consent of the governed. People are withdrawing their consent on a daily basis now. Where do you think that will lead? see http://www.housingwire.com/articles/37308-countrywides-mozilo-reportedly-off-the-hook-for-all-those-subprime-mortgages?eid=311685972&bid=1437193#.V2RJhpGUqsU.email Revenge is not the point. But justice is important. Mozilo was, in my opinion, just a bag man …
It seems apparent to me that the banks are sidestepping the statute of limitations issue by getting homeowners to renew payments after the statute has run. Given the confusion in Florida courts it is difficult to determine with certainty how the statute will be applied. But the execution of a modification agreement would, in my …
Renewing the Statute of Limitations Accidentally: Modifications and Payments Read More »
The current talking points used by the Banks is that somehow the Trust can enforce the alleged loan even though it is the “investors” who own the loan. But that can only be true if the Trust owns the loan which it doesn’t. And naming the “investors” as the creditor does nothing to clarify the …
One Step Closer:It's Impossible to Tie Any Investors to Any Loan Read More »
When BOA says it is a “Successor by merger” to Countrywide, it is no more true than Chase’s claims that it is the successor by merger to WAMU and no different than the false claims of OneWest as to IndyMac. In each instance there was a merger but in none of them were loans acquired …
Red Oak Merger Corp. a/k/a Countrywide, a/k/a BAC a/k/a Bank of America Read More »
