EDITOR'S NOTE: I don't know Brad Miller bradmiller.house.gov but I'm sending him a donation. Gretchen Morgenson says he's worth getting to know and I am going to do just that. He's running for re-election in North Carolina, and except for a scant few other members of Congress, he is one of the few that has actually studied the issues confronting 20…[...]

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Tags: BRAD MILLER, GRETCHEN MORGENSON, MILLER, POLITICS
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, Pleading, Servicer |

I'm not sure I deserve credit for this entry from Richard Widmark, but it has a great deal of merit. It should be expanded and I'll publish it. His is a bare outline with not much to show the reasoning behind it. Yet I see glimmers of a solution if anyone would listen. The presenting issue is that none of…[...]

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SHELL GAME CONTINUES. WHO HAS THE BOND? WHO HAS THE RECEIVABLE? WHO HAS THE SECURITY INTEREST? WHO IS GETTING PAID? WHERE ARE THE MONTHLY PAYMENTS GOING? FANNIE MAE AND FREDDIE MAC ARE BIG PLAYERS, AS IS THE FEDERAL RESERVE. ARE THEY THE ONES REALLY FORECLOSING UNDER COVER OF SECURITIZATION? EDITOR'S NOTE: Another entry under the category of "I told you…[...]

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Tags: borrower, disclosure, discovery, foreclosure, foreclosure defense, fraud, HERS, Lender Liability, Mortgage, predatory lending, rescission, securitization
Posted in bubble, Corruption, evidence, expert witness, foreclosure mill, securities fraud, Servicer |

NOTE TO BOB HAGER: TOLD YOU SO :) 727 So.2d 302 (1999) Michael M. SOMMA, Appellant/Cross-Appellee, v. METRA ELECTRONICS CORP., etc., Appellee/Cross-Appellant. No. 98-1774. District Court of Appeal of Florida, Fifth District. February 12, 1999. Eric W. Ludwig of Eric W. Ludwig, P.A., Altamonte Springs, for Appellant/Cross-Appellee. Melissa Clark Daley of Melissa Clark Daley, P.A., Tampa, for Appellee/Cross-Appellant. ANTOON, J.…[...]

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12debt.html?_r=1&ref=business EDITOR'S NOTE: It is ironic how reality eventually catches up with illusion. While we have been pounding on the issue of principal reduction as the only realistic way out of the recession, and while the financial industry has been busy convincing people that principal reduction is somehow immoral, the contraction of home prices back to reality is having its…[...]

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Tags: appraisals, David Streitfeld, fraud, home equity, Mortgage, predatory
Posted in bubble, Corruption, Eviction, evidence, expert witness, foreclosure mill, Motions, Pleading, securities fraud |

From Down River Eye In Idaho, you lucked up and got to sock it to them good. Pays to be on your toes when it comes time to fight in court. I say Yes! We should all stop paying them, join the class action and prepare to fight. Safety in numbers, united we stand, divided they pick us off one…[...]

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Great job!  Thank you so much for this commentary.  It will be an excellent tool for us  at the preliminary hearing on August 27, 2010.  An evidentiary hearing may be coming in the immediate future.  Deutsche Bank introduced a fake "original note" during an eleventh hour deposition of one Cynthia Stevens.  She had verified all the Original Documents used to…[...]

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ONE MORE QUESTION TO ASK IN DISCOVERY: WHAT ENTITIES WERE CREATED OR EMPLOYED IN THE TRADING OF MORTGAGE BONDS, CDO'S, SYNTHETIC CDO'S OR TOTAL RETURN SWAPS (NEW TERM)? EDITOR'S COMMENT: LOUISE STORY, in her article in the New York Times continues to dig deeper into the games played by Wall Street firms. You'll remember that the executives of the major…[...]

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Tags: Custom trades, HERS, Louise Story, Ny Times, Parcs, TOTAL RETURN SWAPS
Posted in bubble, Corruption, evidence, expert witness, foreclosure mill, Motions, Pleading |

Editor's Note: The REAL BOTTOM LINE POINT is not some technicality wherein the paperwork wasn't done right, which frankly is reason enough to deny the foreclosure, it is that this "technical" deficiency is "derived" from the fact that there is no note or mortgage or deed of trust that can be enforced. There might not even be any obligation at…[...]

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Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Motions, Pleading |

Editor's Note: It's important to remember that "derivatives" "derive" their value from something other than the paper it is written on. One must wonder how the real stuff is going down in value (mortgage bonds, mortgage loans and "real" collateralized debt obligations) while the fake stuff is producing profits. This is what I mean by the grand illusion. If we…[...]

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