Foreclosure Defense: Setting Up Your case

Wherever possible we are in favor of getting a mortgage audit, review, evaluation and initial letters sent out as part of a single package before or at the same time that you hire a local licensed attorney. We are having something of a challenge getting people who do “audits” to conform to the checklist of the Garfield Continuum but we have one solidly on board and others that are looking good.

At my direction, the volunteers associated with my website have set up a “business” that enables them to provide preliminary services and overview for cases like yours for very little cost. We have pressured auditors and attorneys into reducing their fees to practically nothing but we are realistic enough to know that they won’t stay long if they are not getting paid — not with the volume we are dealing with. So expect contact from one of our people and they will ask you if you can pay $1,500, which will give you the the TILA audit, a partial forensic audit and review, an evaluation of possible strategies and causes of action, a Respa Qualified Written Request and Demand letter, a lawyer’s demand letter and someone to take the call should the lender call. In my opinion you need this package whether you hire an attorney or not.

I cannot stress how important it is that you secure the services of an attorney. Don’t give up trying to find one, more and more of them are getting acquainted with this area of the law and recognizing its potential for winning cases and earning lucrative fees. And while I have great pride of authorship in this site, there are other very competent attorneys in the nation who have arrived at the same or different valid conclusions on their own. So please don’t take my highly opinionated remarks as meaning that this is some litmus test identifying competent from unknowledgeable lawyers.

The package also provides a letter announcing your rescission of the loans, which we assert is within the three day rescission despite the passage of more time. We do this because the real lender was not disclosed, nor were the fees paid to the “pretender lender” and other third parties, arising out of your loan transaction, all contrary to the requirements of state and federal law. By merely invoking the three day rescission the lender has only two choices under the statute — comply or file a declaratory action. Usually they simply write back and say we are nuts. But that doesn’t get them out of the statutory violation we boxed them into.

None of this involves actual litigation, but what it gives you is the report of an independent third party who is an expert that will be recognized by the court if necessary and the power to assert claims against your lender(s) and put them on the defensive.

Then we assist you in finding an attorney or helping your current attorney wade through the the facts in the context of today’s foreclosure procedures. Most attorneys are confused not by the law, which has not changed, but by the facts, which have changed drastically since 2001 when most loans were sold off and securitized. There are significant opportunities for borrowers to get damages, refunds, rebates and even clear title to their home because the note was paid by third parties who are unwilling to show up in court. Just last month a woman was awarded $250,000 in compensatory damages and $1 million in punitive damages against Wells Fargo for playing this musical chairs game.

Think about it, are the current Wall Street problem due to a dip in value or are they due to a recognition at the highest levels of government and the financial services industry that the mortgages and notes are worthless — all of them.

Tags: audit, foreclosure defense, foreclosure offense, rescission, three-day rescission
Posted in Eviction |