BUYERS SHOULD BEWARE OF “GREAT DEALS” AND ASK CITY OFFICIALS FOR REAL DATA “You have to ask yourself the question “WHY?” why would banks reject modifications where borrowers would keep paying and instead foreclose and then abandon the house. Something is going on here.” — Neil F Garfield, livinglies.me “The real answer is to go […]

Tags: cityies, housing data, housing prices, LOAN MODIFICATION, median income, vacant homes, valuation
Posted in bubble, Corruption, Eviction, securities fraud |

Editor’s note: One of the tricks in civil procedure that has gone over the heads of some Judges is that the banks and servicers are refusing to comply with discovery, and while their refusal is subject to a later hearing they proceed with the foreclosure because there is no TRO. In this case, Judge Tarle […]

Tags: Auction, credit bid, discovery, FAGAN, foreclosure, Judge Tarle, TRO
Posted in bubble, Corruption, Eviction, securities fraud |

U.S. Bank, Trustee of What? U.S. Bank shows up in many foreclosure cases and many cases that go into litigation. I believe they are allowing the use of their name for a fee and that they have little or nothing to do with most of the cases where their name is used. A little discovery […]

Tags: automatic stay, lift stay order, multiple creditors, Objection to claim, one debt, trustee, U.S. Bank, US BANK
Posted in bubble, Corruption, Eviction, securities fraud |

Thank you to all of you who were able to contribute to our intern program for the summer.  We raised the necessary funds to complete the summer program.  Below are listed some of the accomplishments to date and we still have 6 weeks to go in the program. Our interns have contributed so much to […]

Tags: Good grief America, Nancy Koerber, Project REconomy
Posted in bubble, Corruption, Eviction, securities fraud |

CREDITORS CAN ONLY GET PAID ONCE Editor’s Note: If you are news junkie like I am and watch and read everything about the financial markets it is absolutely amazing how everyone seem to be in agreement that we are headed for a financial cliff and nobody wants to do anything about it. Sen Merkley, with […]

Tags: accounting, appraisal fraud, DeMarco, Housing Wire, John Prior, Oregon, private label securitization, restitution, Senator Jeff Merkley, underwater homes'refinancing
Posted in bubble, Corruption, Eviction, securities fraud |

Editor’s Note: In an extremely well-written and well reasoned decision Federal District Court Judge M. James Lorenz denied the Motion to dismiss of US Bank on an alleged WAMU securitization that for the first time recognizes that the securitization scheme could be a sham, with no basis in fact. Although the Plaintiff chose not to […]

Tags: accounting from master servicer, accounting from sub-servicer, assignment, attempt to securitize, California Reconveyance Company, cloud on title, Colleen Irby, CRC, cut-off date, Debt Collectors, FDCPA, fraud in origination of loan documents, livinglies-store.com, loan receivable, Lorenz, MOTION TO DISMISS, qualified written request, quiet title, QWR, RESPA 6, true credidtor, trust document, U.S. Bank, Unfair Competition LAw, WAMU
Posted in bubble, Corruption, Eviction, securities fraud |

Seniors Leading the New Wave of Foreclosures Editor’s Comment: I think the figure is closer to 10 million, but I went with the title of the article by Mandi Woodruff on Business Insider. Unless the mortgages are corrected to reality in the marketplace instead of the fiction that prevailed when they were defectively “originated”, households […]

Posted in bubble, Corruption, Eviction, securities fraud |

Housing Regulator Defies White House Obama’s Next Move Unknown Editor’s Comment and Analysis: It’s unanimous! Except for DeMarco, the housing regulator who won’t let Fannie and Freddie cooperate with principal reductions. Why not? “The Federal Housing Finance Agency’s own analysis has shown that principal reduction could help up to 500,000 homeowners and save taxpayers as […]

Tags: Business News, DeMarco, Ed DeMarco, Ed DeMarco Fhfa, Fannie, Freddie, Housing Geithner, housing regulator, Tim Geithner, Tim Geithner Ed DeMarco, Tim Geithner Fhfa, White House
Posted in bubble, Corruption, Eviction, securities fraud |

Could it be that the banks are ordering their “independent” trustees to alter the wording of the notice of sale and the ensuing deeds or transfers to look as bad as possible so they can get your home for 5 cents on the dollar? see alert-trustees-selling-liens-not-property-and-property-without-title Unless the bank’s are going to rig the real […]

Tags: auction rigging, foreclosure auction rigging, Libor rigging, municipal bond auction rigging
Posted in bubble, Corruption, Eviction, securities fraud |

Moving the Goal Posts Again SELLING LIEN INSTEAD OF PROPERTY AT TRUSTEE SALE When Will Judges Get It? There is NO Mortgage Lien EDITOR’S ANALYSIS: A new instrument is surfacing masquerading as a Notice of Sale. This is going to be interesting. If you didn’t read it, as most of these were probably not read […]

Tags: Notice of Sale, sale of lien, trustee, trustee sale without warranty of title
Posted in bubble, Corruption, Eviction, securities fraud |