Unfortunately, the bill would not only pay institutions handsomely for each modification they do — at $1,000 each, a bounty that could reach $10 billion — but it would also create opportunities for mortgage servicers to profit at the expense of investors who own the loans. Gretchen Morgenson deserves Kudos for her attempts to disclose the reality of the foreclosure…[...]

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Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

We are very pleased with the responses from our devoted readers, many of whom are direct contributors to this site. The insights, forms and analysis from the many soldiers --- lawyers and laymen alike has made this site the premier resource for assisting distressed homeowners in gaining relief --- sometimes total relief --- from Mortgages based upon false appraisals, using…[...]

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April 24, 2009 Tracking Loans Through a Firm That Holds Millions By MIKE McINTIRE Judge Walt Logan had seen enough. As a county judge in Florida, he had 28 cases pending in which an entity called MERS wanted to foreclose on homeowners even though it had never lent them any money. MERS, a tiny data-management company, claimed the right to…[...]

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Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lenders, lost note, predatory lending, rescission, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

You have to read between the lines. This getting really interesting. Investors are the ONLY people with a potential claim to being a holder in due course and who could then seek to enforce the note, mortgage or obligation. As predicted on these pages, they will not and have not filed any legal actions against borrowers. Any legal actions filed…[...]

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The whole thing is unraveling just we predicted 18 months ago. The largest transfer of wealth in world history is starting. The question is who is going to be behind the curve and who is going to be ahead of it? We are getting daily reports of many cases in which cases that have gone as far as a writ…[...]

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Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, securitization, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

From Jose Semidey: [Editor's Note: This is a major item that affects the core of both claims and defenses against the lenders. Any party seeking to foreclose is "admitting" that they are the holder in due course on the note or that they are the authorized agent for the HDC. Inflated appraisals greatly affect the APR and support causes of…[...]

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Tags: bankruptcy, borrower, disclosure, foreclosure defense, foreclosure offense, fraud, inflation, Lender Liability, predatory lending, rescission, securitization
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |

First From Comments: mers-info-excellent-submission-and-discovery And second: take a look at this site, which is under attack by Goldman Sachs for telling the truth and raising good questions. Goldman Masters of the Unvierse are going to try to shut it down. www.goldmansachs666.com[...]

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Tags: bailout, borrower, credit crisis, disclosure, Federal reserve, foreclosure defense, foreclosure offense, fraud, lawyers, Lender Liability, mortgage meltdown, predatory lending, securitization
Posted in Corruption, Eviction, Modification, securities fraud |

We are very pleased with the responses from our devoted readers, many of whom are direct contributors to this site. The insights, forms and analysis from the many soldiers --- lawyers anad laymen alike has made this site the premier resource for assisting distressed homeowners in gaining relief --- sometimes total relief --- from Mortgages based upon false appraisals, using…[...]

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What keeps us going here? Spending days interacting directly and indirectly with homeowners who are under such duress, in danger of losing so much, honestly I must confess it weighs on Neil and I some days. We understand it is not just a "piece of property" or an "asset," but that the "home" is a refuge for most people ...the…[...]

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The article below by Andrew Rosenfield is an excellent summary of the problems and contradictions facing the Obama administration. But it misses the same point that everyone has failed to ask about. If the intent was to sell the loans to investors and Wall Street took money for that sale, then we must assume that the investors own the mortgages…[...]

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Tags: bankruptcy, borrower, disclosure, Federal reserve, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, predatory lending, rescission, securitization, trustee
Posted in Corruption, Eviction, Modification, securities fraud, Servicer |