Archive for 'securities fraud' Category
Editor’s Note: business seems more concrete and logical than say, religion. But the truth is that all of finance and the economy is based upon three things: (1) trust, (2) credibility and (3) belief. Example: If you believed that the U.S. Dollar was going to be worthless (as has happened in our history) would you […]
For those ideologues who blindly call for “personal responsibility” we direct your attention to the tens of billions of subsidies (corporate welfare) given to hundreds of corporation, some of whom act contrary to the interests of the American citizen and U.S. Foreign Policy. Either take the blinders off or admit that you don’t care about […]
Rizk was sentenced by United States District Judge Dean D. Pregerson, who warned that other professional real estate appraisers should know that if they inflate appraisals and lie about the value of homes, “there is an overwhelming likelihood that they will be caught and go to prison.“ Lila Rizk, 43, Rancho Santa Margarita, California, a former state-licensed […]
Common Sense Revisited: The current crises in reform of student loans, health-care, financial services, prisons, pharmaceuticals, and dozens of other things stalled on the table by an artificial definition of “majority” as 60% instead of 51% lies at the heart of our problem. It isn’t that one policy is right or another is wrong. The […]
“Plaintiff Mortgage Electronic Registration Systems, Inc.’s foreclosure action is DISMISSED for lack of standing. Accordingly, the Court’s Order, issued August 27, 2009, granting plaintiff’s Motion for Default Judgment against the defendants Frank and Ellen Johnston is VACATED. The dismissal of the foreclosure action is without prejudice as to allow the proper plaintiff to come forward.” […]
New research suggests that when a home’s value falls below 75 percent of the amount owed on the mortgage, the owner starts to think hard about walking away, even if he or she has the money to keep paying. See the whole article in New York Times. Extensive discussion of the issue. It’s beginning to […]
From Sal Danna Kerivan v. Title Ins. & Trust Co., 147 Cal. App. 3d 225 – Cal: Court of Appeals, 2nd Dist., Div. 4 1983 How this document has been cited —stating that a trustee ” `is the agent of all the parties to the escrow… and bears a fiduciary relationship to each of them.’”- […]
a special relationship may exist between defendants, who possess specialized knowledge and experience in the field of mortgage refinance, and plaintiff, a homeowner without any training or education in mortgage refinance. Based upon the parties’ vast difference in knowledge, there are issues of fact whether plaintiff’s reliance on defendants’ misrepresentations was justified. (See Fresh Direct, […]
Editor’s Note: 180787_86_opinion Lehman My reading of this report is that the underlying principle of the ADDITION of conditions and co-obligors changed the homeowner’s note from being negotiable to non-negotiable. This decision doesn’t say that but the underlying reasoning leads me to believe that we are on the precipice of a paradigm shift in the way […]
Editor’s Note: Reality has a nasty way of getting in the way of solutions, especially when the solutions are theoretical, and even worse when the theories are wrong. These are the wrong assumptions: The Worst is over. In fact, we have the probability of at least 7 million MORE homes that will be foreclosed, causing […]
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