Too many people are looking for an easy way out and reporting that Judge’s don’t like their arguments because they are going into court saying they don’t owe the money and there is no obligation. This argument starts you off on the wrong foot and heads for disaster. The better approach is to start off …
From M Solimon: {Editor’s Note: Lots more here than meets the eye. You want to know what ledger entries were made by each entity and by what individuals and under whose supervision or instructions the entry was made. Besides being able to trace the holder in due course you will probably eliminate most of their …
Get those Ledger Entries from everyone — they tell a long story Read More »
From Sal Danna: When Countrywide took over the servicing from Greenpoint, the loan was already in default which automatically makes Countrywide a debt collector. If it was not in default, then a loan servicer is not considered a debt collector. When I received the first letter from Countrywide, it contained the standard “This is an …
Violation of the Fair Debt Collection Practices Act (“the FDCPA”) Read More »
“The way mortgages are bundled and resold, it can be enormously time-consuming just trying to determine what company holds the loan on a property thought to be in foreclosure.” Susan Saulny of the NY Times gets credit for her story on the front page today. It points out what we have been saying here all …
By the METHOD of pooling and tranching, they converted from negotiable to non-negotiable instrument. (Article VIII UCC). That means that upon transfer the recipient of the payment is satisfied in full and a new obligation arises between the seller and buyer separate and apart from the borrower. Further, the method calls for the proceeds of …
BOTTOM LINE: Use of a nominee causes an irreconcilable cloud on title entitling the homeowner to recovery on his homeowner title insurance policy. If homeowners purchased title insurance, they were at the same time in the same closing agreeing that the names of MERS and Countrywide would be used, for example, but that off-record activity …
Curious "disclosure" by MERS and Countrywide: What is a nominee? Read More »
Many thanks to Alan Baron who has been staying on top of the research. Rand Corporation v Yer Song Moua: Manisy Moua, John Doe, Mary Roe, United States Court of Appeals Filed March 20, 2009. 8th-cir-tila-rand-march-20-2009 Phoenix, Az March 25, 2009. by Neil Garfield. Despite nearly heroic efforts by the banking industry to avoid an …
8th Circuit Comes Down Heavy for Homeowners on TILA Rescission Read More »
The Big Takeover The global economic crisis isn’t about money – it’s about power. How Wall Street insiders are using the bailout to stage a revolution MATT TAIBBI Posted Mar 19, 2009 12:49 PM ADVERTISEMENT It’s over — we’re officially, royally fucked. no empire can survive being rendered a permanent laughingstock, which is what happened …
Why Show Me The Note Matters —- kudos to the Bankruptcy Law Network By Wendell Sherk, Missouri Attorney on Mar 17, 2009 in Bankruptcy Practice and Procedure, Credit, Bankruptcy, and Society, Featured, Missouri More bankruptcy courts are demanding mortgage servicers prove they are entitled to collect on a mortgage loan note before foreclosing. The fight over …
The big deal is that it is ONLY the holder in due course who is allowed in court to make claims or enforce any rights regarding the mortgage and note. No servicer (e.g. Countrywide), administrator (e.g. MERS), or trustee has any right to do a judicial or non-judicial foreclosure because they are not the holder …
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 …
“Our position is that the mortgage with IndyMac is toilet paper — it has no legal standing,” March 8, 2009 Mortgage Fraud Case Poses Federal Quandary By MICHAEL POWELL Waver Brickhouse, gray-haired and soft-spoken, has come undone twice during the nation’s housing crisis. In 2005, she fell behind on her mortgage payments and turned to …
From one of our more sophisticated readers. see Comments ——————————- Obviously there are a lot of home owners in trouble. You need to warn them of a trap that has been set for them. I’ve given you some information concerning my case, but I would appreciate 5 minutes of “talk time” at your convenience. The …
Greetings! I hope you like our new look. Our team has been working on producing a more user friendly atmosphere and the work continues. I hope you like it. More improvements are coming. 3/2/09 Bailouts are going to the perpetrators rather than the victims. The mystery deepens as to where all this money went and …
I am a lawyer in Georgia and it has been my experience in Georgia the lender will move the court to modify the rescission procedure by having you tender the money into the court registry (15 USC 1635(b)) within a specified amount of time., usually 6 months. The mortgage will only be removed after this …
Georgia Lawyer's Strategy on "Bond" Requirement Has Merit Read More »
submitted by NY Interestingly, with the exception of Judge Bufford and a few other judges, there has been less than adequate focus upon the UCC title issues. The next round of cases may and should focus upon the title to debt instrument. The person seeking to enforce the note must show that: (1) It is …
CBS News HOUSE OF CARDS CBS aired a 2 hour news special on the mortgage meltdown. For a change, the facts in it were entirely correct although some important facts were left out. There still remains a bias against the borrowers. While the case was made that the investors were defrauded and didn’t know what …
MERS residential Membership Application Kit Contains the following items: Brochure: “Process loans, not paperwork” Membership application Terms and Conditions Fee Schedule MERS® Commercial Membership Application Kit Contains the following items: Brochure: “Minimize Risk, Save Money, Reduce Paperwork” Membership application Terms and Conditions Article: “MERS: Every Commercial Loan Needs a Mom” MERS® eRegistry Membership Application Kit …
Great Song says it All- Click to Play: Shuttin Detroit Down cnbc-airs-house-of-cards-closer-to-the-truth-but-not-quite-there-line-up-the-story-of-the-borrower-and-the-story-of-the-investor-and-they-are-the-same civil-disobedience-on-the-rise-as-sheriffs-refuse-to-serve-evictions-%E2%80%9Ci-refuse-to-leave-the-home-that-i%E2%80%99ve-worked-so-hard-to-keep-i-will-not-let-the-bank-take-my-home-and-i-will-not D-Day vet’s tale parallels mortgage meltdown Ex-corpsman, 84, blames ‘greed, greed, greed’ as he faces losing his home By Mike Stuckey Senior news editor msnbc.com Feb. 17, 2009 CERRITOS, Calif. – Questions linger here, as ripe and nagging as the odor that …
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 …
World Savings Knew It was Acting Illegally and Committing Fraud Read More »
From an attorney involved in foreclosure defense. I hope you are well. I have been reading through your manual daily to absorb the breadth and depth and width of this mortgage meltdown… I am so glad I was able to come to the workshop in Napa and meet you. I’m sorry I missed your teleconference …
Obama on who owns the mortgage: Watch Marcy Kaptur D- Ohio on who owns the mortgage: Watch Geithner’s plan of buying up toxic assets assumes there is a value. There isn’t. The paper is all bad from one end to the other. The Certificates of Asset Backed Securities are bad, the mortgages are bad, the …
countrywide-061308 “Fraud on the Market” at the core of the mortgage meltdown is hotly contested: millowitzvcitigrioup1-30-07
Key points -“servicers are limited in their ability to modify mortgages” READ: they have no authority to modify nor authority to foreclose This is why so many are “strung along” thinking they are waiting to be approved for a loan modification and at the eleventh hour are told they “weren’t approved” and then the following week …
WSJournal – “Servicers are limited in their ability to modify mortgages” Read More »
