Most people, including homeowners, believe that the homeowners do owe the money and that the entities that are attempting to foreclose should win. That is why the free house myth is so pervasive. The result is that foreclosures are being granted to entities that (a) do not exist or (b) have nothing to do with …
Editor’s Note: It’s not final but it looks like Ireland is going to do pretty much the same thing that Iceland did, except this one is based upon the heart of the crisis — housing and bad mortgages, falsely presented to lenders and borrowers alike. The answer? Reduction in the balance due on mortgages that …
Ireland Joining Iceland for Mortgage Principal Corrections Read More »
Editor’s Comment: The practice of disregarding normal loan underwriting standards creates a claim that homeowners were tricked into loans that they could never repay. The Consumer Financial Protection Bureau, built by Elizabeth Warren under Obama’s direction is about to pass a rule that addresses that very issue. The new Rule would allow homeowners contesting foreclosure …
CFPB Safe Harbor Rule Would Allow Homeowners to Fight Bad Mortgages Read More »
COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary REQUIRED READING 2.24.2011 Chase -Allstate-Complaint JUST LOOKING AT THE TABLE OF CONTENT WILL TELL YOU WHAT YOU NEED TO KNOW NATURE OF ACTION …………………………………………………………………………………………………….1 PARTIES ………………………………………………………………………………………………………………………..7 JURISDICTION AND VENUE ……………………………………………………………………………………….16 BACKGROUND ……………………………………………………………………………………………………………17 A. THE MECHANICS OF MORTGAGE SECURITIZATION …………………………………….17 B. SECURITIZATION OF MORTGAGE LOANS: THE …
ALLSTATE FILES SUIT LAYING OUT ALL THE ALLEGATIONS YOU NEED Read More »
GET LOAN SPECIFIC RECORDS PROPERTY SEARCH AND SECURITIZATION SUMMARY FTC v Countrywide Home Loans Incand BAC Home Loans ServicingConsent Judgment Order 20100607 Editor’s Comment: This “tip of the iceberg” is important for a number of reasons. You should be alerted to the fact that this was an industry-wide practice. The fees tacked on illegally during …
Bank of America to Pay $108 Million in Countrywide Case Read More »
SUPERIOR COURT OF NEW JERSEY CHANCERY DIVISION – ESSEX VICINAGE ——————————————————————X Civil Action Deutsche Bank National Trust Company, As Trustee Of Argent Securities, Inc. Asset Backed Pass Through Certificates, Series 2004-PW1 Docket Number: XXX REQUEST FOR INTERROGATORIES Plaintiff(s), vs. XXX; John Doe, Husband Of XXX XXX Avenue Rosedale, NY 11422 Defendant(s)/Pro Se ——————————————————————X REQUEST FOR …
Editor’s Comment: Again, myth prevails. The monster that gobbled our home equity and the value of our pension funds came from the waters beneath the market not from some economic disaster or sudden migration of population to Australia. The “loss of value” was nothing of the sort. Prices were going up during a decade when …
Monster From Below, Not from Above — Appraisal Fraud Read More »
One new answer we are getting when we ask for the identity of the real holder in due course of the note is “that information is confidential. You are not entitled to that.” Of course this is ridiculous — if you signed a note and it has been “assigned” to some third party, you have …
