Mortgage Court Cases

When we go to court to defend an illegal foreclosure, we’re often trying to figure out who really has the right to get paid back the loan. This is important because you should only have to pay the person or company that actually lent you the money in the first place.

In mortgage court cases involving foreclosures, Banks have been telling courts that it’s enough to just point to the person who owes the money. Because of this, there’s a whole bunch of companies pretending to be the ones who should get paid, Here’s the thing: if you owe money, it must be to someone specific, not just a nameless company. So, if you stop paying the wrong company, it shouldn’t be held against you.

Let’s look at an example from a pretend lender I’ve given advice on:

U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, FOR RESIDENTIAL ASSET SECURITIES CORPORATION, HOME EQUITY MORTGAGE ASSET-BACKED PASS-THROUGH CERTIFICATES, SERIES 2005-EMX4

U.S. Bank says it’s involved, but not on its own. It says it’s just holding the place for some unnamed group of investments. but the way they say it is tricky, they don’t even say that U.S. Bank is looking after a group of investors; it’s more like they’re taking care of some investment certificates. These certificates are just pieces of paper; they can’t be treated like people in court.

The real problem is that we don’t know who owns these certificates because they keep it a secret. These real owners aren’t told about the loan, the foreclosure, or any money that’s been paid, which creates a big mess of who is really interested in the loan. There are so many people and companies involved with each loan, and the situation gets complicated really fast. These include investors who have certificates from the loan and others from similar loans, and all their money is mixed up.

What’s more, U.S. Bank doesn’t say it has its own interest; it’s acting like it’s for this group of investments that nobody can prove even exists. And then another company comes in saying it should be in charge of the loan for this group, even though it doesn’t really own the loan or anything else. Then you have other groups who say they have a stake because they own other investments linked to the loan. It’s a big, confusing web that’s supposed to connect back to the certificates from the group.

This whole situation with these US Bank claims and other like them make it really hard to understand who has the right to take someone’s house if they can’t pay the loan. We need things to be clear and straightforward, following the law so that everything is fair and just for homeowners. That’s why I am so personally involved in defending the foreclosure. Lance

Need help in assessing your case? Does your attorney need our help? Use our services to help guide you through the process early enough to avoid mistakes that can cost you your home in an illegal foreclosure action. Call our office today at 844.583.5339 to inquire if we can help. You can also submit a case statement here and get a complimentary recommendation as to your best course of action.

FORECLOSURE DEFENSE IS NOT SIMPLE. THERE IS NO GUARANTEE OF A FAVORABLE RESULT. THE COMMENTS ON THIS BLOG AND ELSEWHERE ARE BASED ON THE ABILITY OF A HOMEOWNER TO WIN THE CASE NOT MERELY SETTLE IT. OTHER LAWYERS HAVE STRATEGIES DIRECTED AT SETTLEMENT OR MODIFICATION. 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.

But challenging the “servicers” and other claimants before they seek enforcement can delay action by them for as much as 14 years or more. In addition, although currently rare, it can also result in your homestead being free and clear of any mortgage lien that you contested. (No Guarantee).

Yes you DO need a lawyer.

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Tags: lance denha esq.
Posted in Corruption, securities fraud |