FINGER POINTING WON'T SOLVE THE PROBLEM The mortgages are invalid, the transfers are invalid, the notes are invalid, the transfers are invalid, the documentation is void, the obligation needs to be renegotiated and THEN we will be able to start putting things back together again with homeowners and investors restored as much as possible to the position they were in…[...]

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Editor's Note: I'm sitting here with an upper sinus infection that is giving me the worst headache I ever had and that has lasted for 2 1/2 weeks. But it doesn't compare to the headache the entire country endures while we continue to ignore the obvious. Unemployment and underemployment is very bad even by the weak standard employed by government…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

“If the notes weren’t properly transferred to the trusts, then investors have the mother of all put-back claims,” Adam J. Levitin, an associate professor at Georgetown University Law Center in Washington, wrote on a blog four days after citing the Wizmur ruling during a hearing by a House Financial Services subcommittee. Editor's Note: As Max Gardener is quoted in the…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary "This could potentially mean that 60 percent of homeowners in this country are currently paying on unsecured debt - which can be dealt with in bankruptcy." EDITOR'S COMMENT: A couple of million here, a couple of million there, the next thing is you're talking real money. Here is one County…[...]

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COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary "In hundreds of thousand of cases, the promissory note that proves a bank owns a borrower mortgage is now gone. Vanished. Some borrowers may walk away scot free. In other instances, banks may be forced to dramatically reduce what a borrower owes. Many foreclosures have already been halted by the…[...]

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submitted by David Editor's Comment: This underscores the reality of the situation. Whereas the borrower thought the lender was disclosed, was underwriting the loan and was taking the risk and therefore was interested in the viability of the loan, none of those things were true. The party disclosed as the "lender" was not the source of any money that went…[...]

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EDITOR'S COMMENT: Maher has a done a pretty good job of listing the documents that you might want to see to prove your point about the authenticity of the transfers and whether the loan ever made it into an actual, existing pool. EVIDENCE : PRODUCTION OF DOCUMENTS By M.Soliman EXHIBITS, FINANCIAL STATEMENT SCHEDULES (a) (1) and (2) — Financial Statements…[...]

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COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary Editor's Comment: Just like the bogus foreclosures that preceded them, the banks say they own the REO property they acquired with an illegal credit bid but they don't want to REALLY own it and be responsible for code compliance utility bills and all that fun stuff that goes with REALLY…[...]

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COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary In his experience, Mr. Shaev said: “The attorneys who represent the banks invariably state that they will get the collateral file for us and prove that the banks had possession of the documents at the appropriate time. But then when we review the file it doesn’t show that at all.”…[...]

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Tags: bankruptcy, BKR, Chapter 13, Chapter 7, creditor, MLS, motion to lift stay, SECURED CREDITOR, US TRUSTEE
Posted in bubble, Corruption, Eviction, securities fraud |

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary The Truth in Lending Act from 1968 gives borrowers the “right of rescission,” the ability to undo a home refinancing or home equity loan within three years of the closing if the lender did not make proper disclosures — generally of the loan amount, interest rate and repayment terms. The…[...]

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Tags: Federal reserve, rescission
Posted in bubble, Corruption, Eviction, securities fraud |