Defending your foreclosure could cost $100,000?!?

In answer to a reader’s question to me after receiving a comment from an attorney along those lines, I answered—-

100K? If the defensive and offensive strategies proposed in my site are correct, then the cost of defense and offense should not approach that figure. If the fees DO approach that figure it would be the result of failure of the Court to agree with what I perceive to be the essential, basic elements and requirements of commercial, property and securities law. In that event, defensive maneuvering for purposes of delay COULD bring fees up to that level, but I would question whether it was worth it. Naturally I defer, as you should, to the judgment of your local counsel. However, the essence of the strategies I endorse all force the burden onto the party seeking enforcement of the note and mortgage. If successful, this will most likely happen at the very beginning of the case and lead to early resolution or settlement.

As for burrowing through my blog, I confess that it evolved a little too quickly and is somewhat chaotic in its user interaction — i.e., finding what you want — and we are working on that. However, unless your attorney is satisfied that he has a thorough knowledge of securitization of liabilities and the resulting intersection of the logistics of transferring ownership, possession or rights to a note and mortgage, and that he has a thorough understanding of the revenue flow and the creation of co-obligors as one moves up the chain of securitization, then it would behoove him to make the effort, or to use Lexis or some other research service to get up to speed. What we have found, to our dismay, is that the predilection of attorneys to follow the normal chain events, as they existed prior to the mortgage meltdown of 2001-2008, has caused them to overlook the reality facing their clients and undermined their confidence and ability to force the opposition (lenders or mortgage servicers) to face that reality.

In any event, a quick look through the blog or some search engine that catches this sort of things would reveal that everything I have alleged, proposed, suggested and even hypothesized has been and is being used by everyone from pro se homeowners to attorney generals of many of the States, all so far, to great success. I therefore would recommend that you have a frank and earnest discussion with your attorney about these successes in many states and that the issue of the state of things prior to 2001 be explored and understood to be virtually irrelevant to current foreclosure litigation. Then, remembering that you are not just the client, you are the boss, you could decide whether you have the right “diagnosis” and you are pursuing the right “treatment.”

Tags: ATTORNEY FEES, foreclosure defense, foreclosure offense
Posted in Eviction |