CUOMO: NO MORE TIME TO WASTE

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary

I am not much for politics, because it seems obvious that the banks have bought virtually all government functions at the state and Federal level. And I don’t know much about the new Governor of New York except that he apparently understands what the banks did on Wall Street and understands the stakes to the people of his state and all states, with respect to homes lost, homes being lost and homes that are going to be lost if we don’t reverse the entire paradigm right now.

But his inauguration speech did catch my attention in that it had the urgency of actual action and results now and not merely words and rhetoric. It is obvious that as Governor of a state where the banks are the strongest that he will have to compromise politically more than we would like and possibly undermine the goals. So it is all the more important, that we, as listeners to such a speech, pick up the theme of extreme urgency and drop our notions of waiting for government to do anything.

If you had a home and it was taken from you find a way to fight back and regain it. It IS possible. Get a lawyer and look at the details of the the standing of the entity that initiated the foreclosure, for a wrongful foreclosure, slander of title and quiet title action, look at the the actual sale to discover anomalies and illegal maneuvers such as submitting a credit bid when they weren’t the creditor and transferring title to yet another entity that wasn’t the creditor etc.

If you have a home that is in the process, do the same and raise the issue of whether the party doing this, or trying to do this is the right party who could execute a satisfaction of mortgage that would be accepted by a title examiner. The answer in most cases is most likely “no.” That being the case, what are they trying to pull here?

If you have a home that is underwater or where you are in danger of going into some type of foreclosure procedure, then take the initiative — don’t wait — put them on the defensive. In virtually ALL cases if you are current or nearly current in your payments, they have yet to execute ANY paperwork transferring the obligation, loan, note or mortgage to anyone from the originating lender. Sue the originating lender after you have done our title and securitization analysis and ask for a declaration from the court that they are the lender of record  but that they were not in fact the lender and therefore the mortgage is unenforceable, entitling you to quiet title. This will convert the obligation from a secured obligation to an unsecured obligation.

If you are in bankruptcy, don’t list the lender of record or anyone else as a secured creditor unless you are SURE that they are secured. They probably are not secured, because of a variety of factors. The real creditor is the investor who put up the money into a pool from which money was funded for your loan.

Take the initiative, don’t wait for government help and don’t get stuck in the modification process with a party who has no right to modify your mortgage much less foreclose on it. Demand proof that they are the decider. In discovery ask for information that shows where the servicer was sending your payments when you were making them. Ask whether they are still making payments even if you are not making the payments (if they are, how could the obligation be in default to the claimed creditor?). Demand proof that the party who is trying to steal your home could execute a satisfaction of mortgage.

In the final analysis, the entire securitization scheme was an illusion. Documents that were called for in the securitization infrastructure were neither executed nor even prepared. It never really happened. And now that we are in the unraveling stage, the banks are working successfully to get people thinking that it DID happen because if it didn’t they are screwed. But if it didn’t happen and title is really very simply as it was on the day of closing and not as they represent it to be now, then whose fault is that?

Homeowners didn’t write or read the documents that were piled in front of them. Somehow we are the position, that Judges are increasingly resistant to, that all these mistakes should be ignored and that homeowners should take the hit even though they were the victims of a fraudulent scheme that deceived the world. Somehow they want us to believe that this world-wide deception was the collective fault of the homeowners.

Just who had access to the world stage? Was it a homeowner in Kansas who had never been out of the state, or was it a multinational banking corporation with trillions of dollars in deposits and hundreds of thousands of employees? That’s a tough one, but I’m going out a limb to say that the Kansas homeowner had no idea about what was going on in Wall Street or the world economic and political stage and that the megabanks knew all the relevant information because they created it.

Go Get’em NOW!

HAPPY NEW YEAR!!

Posted in bubble, Corruption, Eviction, securities fraud |