If it were true that the claimants and plaintiffs in foreclosures were real, you would have reams of pleading, exhibits, and evidence showing that — and there would be very few defenses left for homeowners.
in 14 years of challenges from me — in and out of court — the banks have failed to produce any evidence that isn’t false and fabricated and they have lost their foreclosure cases most of the time because of that — but only if they were challenged.
The banks have known that reformation is their only way out. They have known for many years. And quietly, because nobody understood what they were doing, they have been doing exactly that through the uninformed consent of homeowners who enter into “modification” agreements.
Both law and common sense dictate that claims of any type against homeowners must only be brought by people who have suffered some injury resulting from something the homeowner did or did not do. Once you strip the presumptions arising from the facially valid transaction documents the foreclosure mill has nothing but an arcane legal argument to get their way. And it is only by wearing down the homeowners and intimidating the lawyers that would defend them, that the banks have, thus far, been successful.
Bob Hurt and others have been paid agents of PR firms for the banks for over 10 years. They are ramping up criticism since I ramped up the attack with Appellate briefs, my announcement of petitioning the state Supreme courts for rule changes, the blog, and the radio show.
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Like all fake news proponents, they start with a lie (e.g., there are no cases that support Garfield’s view) or perhaps something with a grain of truth and then state a conclusion that is dead wrong (e.g., foreclosure mills don’t need to show proof of payment of value even when challenged). Banks won’t show their face in this fight because they don’t want to give us more PR oxygen than is absolutely necessary from their perspective. But they are there. And as the old phrase goes, when you’re getting a lot of flack — that’s when you know you are over the target.
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The fact remains that in 14 years not one person anywhere has ever said (on TV, Radio, blog, legal article, or live appearance) or produced exhibits showing that the REMIC trusts or trustees have ever been entrusted with any money or assets. In fact, as I demonstrated over the years the seminars for foreclosure mills and bank lawyers have always agreed with me and told the banks and the foreclosure mills that they proceed at their own peril.
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That is the bottom line. If it were true that the claimants and plaintiffs in foreclosures were real, you would have reams of pleading, exhibits, and evidence showing that — and there would be very few defenses left for homeowners. As it stands my record is over 80% success in defending over 5,000 homeowners directly and indirectly and over 50,000 indirectly because they read my blog.
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And the banks just took another hit in Florida where the Supreme Court reversed Florida law that said homeowners who prove lack of standing or who successfully defend by revealing that the foreclosure mill has no proof of standing (ownership of the debt, note or mortgage) can get recovery of attorney fees. This opens the door to more access to lawyer, which means more access to courts, and more victories for homeowners.
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The fact remains that in 14 years of challenges from me — in and out of court — the banks have failed to produce any evidence that isn’t false and fabricated and they have lost their foreclosure cases most of the time because of that — but only if they were challenged. The only hope they have for maintaining the “securitization” infrastructure is by legally reforming the transaction with homeowners.
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They must get a court order or an agreement from homeowners that waives compensation for concealed risks (inflated appraisals, nonviable loans etc.) and waives compensation for launching the concealed securities scheme.
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While “securitization” does not mean securitizing the debt, note, or mortgage, it does mean that securities were sold that use the existence of facially valid loan documents as a reference point for the securities which are simply bets on the reports by investment banks about “performance.” In that scenario, it doesn’t matter what the homeowner does or does not do. It only matters that the investment bank issues a report on what the homeowner did or did not do as part of a group of other homeowners. There is never a report of how anyone took a loss or posted a gain resulting from any homeowner making or not making any scheduled payments.
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The banks have known that reformation is their only way out. They have known for many years. And quietly, because nobody understood what they were doing, they have been doing exactly that through the uninformed consent of homeowners who enter into “modification” agreements. In those agreements, which appear to be facially (if not substantively) valid, the homeowner (a) waives all possible claims and defenses and (b) agrees to accept the servicer as the new creditor. That is the reformation of the “loan” agreement which now exists thanks to the “modification.”
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It all comes down to one simple proposition. Both law and common sense that claims of any type against homeowners must only be brought by people who have suffered some injury resulting from something the homeowner did or did not do. Once you strip the presumptions arising from the facially valid transaction documents the foreclosure mill has nothing but an arcane legal argument to get their way. And it is only by wearing down the homeowners and intimidating the lawyers that would defend them, that the banks have, thus far, been successful.
PRACTICE NOTE: Lawyers who entering the field of foreclosure defense will be rewarded for their efforts and they will win their cases if they litigate properly. They should be aware and remain aware that despite all appearances to the contrary, the only interested parties in the outcome of foreclosure litigation is the concealed investment bank and the homeowner. And none of the foreclosure players are participating for any reason other than fees. there is no effort for restitution for an unpaid debt because there is no unpaid debt account on the ledgers of any company anywhere.
As I have repeatedly shown in and out of court, proceeding on that premise yields exciting and at first, unexpected, results. Try it, you’ll like it. Tastes like chicken.
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Nobody paid me to write this. I am self-funded, supported only by donations. My mission is to stop foreclosures and other collection efforts against homeowners and consumers without proof of loss. If you want to support this effort please click on this link and donate as much as you feel you can afford.
Please Donate to Support Neil Garfield’s Efforts to Stop Foreclosure Fraud.
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Neil F Garfield, MBA, JD, 73, is a Florida licensed trial and appellate attorney since 1977. He has received multiple academic and achievement awards in business and law. He is a former investment banker, securities broker, securities analyst, and financial analyst.
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FORECLOSURE DEFENSE IS NOT SIMPLE. THERE IS NO GUARANTEE OF A FAVORABLE RESULT. THE FORECLOSURE MILLS WILL DO EVERYTHING POSSIBLE TO WEAR YOU DOWN AND UNDERMINE YOUR CONFIDENCE. ALL EVIDENCE SHOWS THAT NO MEANINGFUL SETTLEMENT OCCURS UNTIL THE 11TH HOUR OF LITIGATION.
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