Editor's Note: 180787_86_opinion Lehman My reading of this report is that the underlying principle of the ADDITION of conditions and co-obligors changed the homeowner's note from being negotiable to non-negotiable. This decision doesn't say that but the underlying reasoning leads me to believe that we are on the precipice of a paradigm shift in the way that derivatives are perceived in…[...]

Continue Reading

Tags: bankruptcy, CDO, constructive trust, counterparty, credit default swaps, Dante, derivative, Diana Golobay, Judge James Peck, Lehman, Lehman Brothers Holding, Lehman Brothers Special Financing, negotiable instrument, Obligation, securitization, subordination
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Note: Reality has a nasty way of getting in the way of solutions, especially when the solutions are theoretical, and even worse when the theories are wrong. These are the wrong assumptions: The Worst is over. In fact, we have the probability of at least 7 million MORE homes that will be foreclosed, causing massive dislocation from available housing…[...]

Continue Reading

Posted in bubble, Corruption, Eviction, securities fraud |

See Judge Long's Decision - Make sure you shepardize 384283_Ibanez Larace motion to vacate memorandum Oct2009Misc 384283 and Misc 3867551 when a foreclosure is noticed and conducted for one party by another, the name of the principal must be disclosed in the notice. the plaintiffs themselves recognized that they needed assignments in recordable form explicitly to them (not in blank)…[...]

Continue Reading

Tags: accounting, agent, ARIZONA, authorized agent, creditor, disclosure, discovery, financial double jeopardy, foreclosure defense, HOLDER, holder in due course, Ibanez, Judge Long, Larace, Massachusetts, mediation, modification, Ohio, pretender lender, principal, right to inquire, rules of engagement, third party payments, vacate
Posted in bubble, Corruption, Eviction, securities fraud |

Florida Bankers Association, controlled by national and supersize regional banks are trying to convert Florida to a "non-judicial state." DON'T LET IT HAPPEN!!!! Start writing letters and get others to write letters to the Republican controlled Florida legislature. This effort will not only deny homeowners essential rights it will vastly increase the pace of foreclosure sales, thus crashing the market…[...]

Continue Reading

Tags: FBA, Florida, Florida bankers Association, home values, non-judicial, taxes
Posted in bubble, Corruption, Eviction |

See DEUTSCHEBANKv BANKOFAMERICA This is an action for (1) damages for breach of contract resulting from BOA’s failure to secure and safeguard over $1.25 billion worth of cash and mortgage loans that it was contractually obligated to secure on behalf of DB and (2) contractual indemnity for the losses caused by BOA’s negligent performance of its duties to DB. Ocala…[...]

Continue Reading

Tags: ABCP Market review, Bank of America, BOA, collateral agent, Colonial Bank, custodian, depository, Deutsch Bank, Dry Mortgages, Federal Home Loan Mortgage Corporation, Freddie Mac, gatekeeper, Moody's, noteholders, Ocala, Taylor Bean, trust, trustee, Wet Mortgages
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Comment: Lawyers Take Notice! This is a career, not just a niche. Real Estate Bull Laub Sees Unprecedented Workout From Bad Debt By Beth Williams and Stuart Bern Jan. 13 (Bloomberg) -- Kenneth Laub has been through three commercial real estate boom and bust cycles during almost five decades as a broker and consultant to corporations such as Hess…[...]

Continue Reading

Posted in bubble, Corruption, Eviction, securities fraud |

Ease of entry was a key in the jump from 11,000+- in CA in 1990, to over 21,000 by 2007. From Steve Smith This comment is not made to defend the actions of any appraiser, or the appraisal industry itself, but to add some dimension of what was going on transactionally. Sadly, appraisers were Conditioned to Anchor on Sales Price.…[...]

Continue Reading

Tags: appraisals, COnditioned to Anchor on Sales price, templates, USPAP
Posted in Eviction |

From Christopher Very first page of closing jacket reads, and I quote: “Two complete closing packages –one for you to open and review prior to your closing –one for your closing agent to open (please keep this package sealed until your closing agent arrives).” also, quote: “At the scheduled closing meeting, the closing agent will open “their package” and “review…[...]

Continue Reading

Tags: Christopher, closing, closing agent, package, signing process
Posted in bubble, Corruption, Eviction, securities fraud |

Editor's Note: You see they have no shame. If they can get money they are going after it only this time the ones going after deficiency judgments and collections are usually not even the original people who foreclosed. This is why you MUST fight it, file motions to set aside for fraud, petition for bankruptcy relief or use other means…[...]

Continue Reading

Tags: Bloomberg, collection, deficiency, Florida, Kathleen Howley, sham
Posted in bubble, Corruption, Eviction, securities fraud |

January 27, 2010 New York Times see also an-investigator-presses-to-uncover-bailout-facts-neil-barofsky Two at Fed Had Doubts Over Payout by A.I.G. By GRETCHEN MORGENSON and LOUISE STORY Weeks after rescuing the American International Group with an $85 billion taxpayer loan in late 2008, Federal Reserve Board officials rejected a proposal that would have forced the insurer’s trading partners to return $30 billion in…[...]

Continue Reading

Posted in bubble, Corruption, Eviction, securities fraud |