It is hard to compute the total damage to everyone, but it seems pretty clear at this point that EVERYONE is effected. Every government agency involved with real estate taxes, and government service funded by real estate taxes, every homeowner who sees his home equity decline, every neighborhood that turns into a "deferred maintenance" junkyard with organized crime and vandals…[...]

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Tags: appraised value, borrower, government services, home equity, organized crime, real estate distress, real estate taxes, vandalism
Posted in Eviction |

If you dig deep enough you will find that it wasn't hard for regulators to figure out that we were heading for a "shock." It wasn't hard to figure out that there were abuses traveling downline to borrowers and upline to investors. And it wasn't hard to figure out that the securities issued at both ends of the mortgage meltdown…[...]

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Tags: ABS, CDO managers, default, derivatives, loans, plausible deniability, risk, subprime, tranche
Posted in Eviction |

And now, because nobody stepped in before the flood began, a new industry is born --- bigger than personal injury lawsuits --- it the flood of claims under TILA, RESPA, RICO, Securities laws, common law fraud and state and federal laws concerning false and deceptive business practices. People will be rescinding or simply voiding their mortgage transaction through rescission remedies…[...]

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Tags: AAA rating, foreclosure defense, mortgage meltdown, rescission, RESPA, RICO, securities, TILA, Wall Street
Posted in bubble, Corruption, Eviction, securities fraud |

By Brad Keiser, 6-13-08 My friend Tom and I coach our daughter’s basketball team together. Tom is in the aviation fuel business but is a pretty innovative guy both in coaching and in business. He asked me the other day, “Brad, you are a former banker isn’t there some way for an opportunistic guy to take advantage of this whole…[...]

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Tags: CD rates, foreclosure, home sales, Jim Cramer, lender, real estate investing
Posted in bubble, Eviction |

Housing Crisis Bankrupts Vallejo By Kent Anderson, Oregon Bankruptcy Attorney on Jun 11, 2008 in Bankruptcy Cases of Interest, Bankruptcy Legislation, General Bankruptcy Information The crisis caused by dramatic changes in the home lending markets has claimed a new victim.  This time it is not a bank or mortgage lender, it is instead a working class suburb of San Francisco that has filed for bankruptcy protection.…[...]

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Tags: credit crisis, foreclosure, Housing crisis, HR 5818, Neighborhood Stabilization Act, towns bankruptcy, Vallejo
Posted in Eviction |

Well, there is matter of ethics here but the claims of fraud are far from accurate and the complaints come from the perpetrators of a geater fraud. So for what it's worth, here is a strategy that seems to be working for some people: Some Buy a New Home to Bail on the Old Fannie Plans Rules  To Avoid Practice …[...]

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Tags: bailout, Fannie MAe, foreclosure, new home, second home
Posted in Eviction |

Fraudulent Appraisals, Teaser Rates, and Manufactured Defaults: Boons to Borrowers in Defending Foreclosure As more and more lender misconduct hits the Internet airwaves and more of us continue our investigation into and scrutiny of the practices of originating lenders and their downline successors, certain themes are developing which give rise to numerous defenses to mortgage foreclosure actions. Three such issues are discussed here which…[...]

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Tags: appraisals, ARM, default in payment, foreclosure, HELOC, interest rates, investment bankers, originating lenders, servicing agent, stated income, successors, teaser rates
Posted in Eviction |

    Insider Joins Critics of the Fed,  Faulting Credit-Crisis Programs Richmond's Lacker  Amplifies Volcker;  Moral Hazard Fears By GREG IP June 6, 2008; Page A3 In a striking insider's critique, a Federal Reserve policy maker said lending programs the central bank has created to combat the credit crisis distort private markets, encourage risky behavior and could endanger the Fed's independence. Federal Reserve…[...]

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Tags: bailout, Dow Jones, Fed, Lacker, Moral Hazard, WSJ
Posted in Eviction |

I found an excellent article by an excellent writer I would like to share with you. It underscores the importance of the requiring the lender to prove the original note, the ownership of the note and mortgage and the alleged non-payment. There is much more. If you are involved in a foreclosure or you are an attorney representing someone in…[...]

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Tags: affirmative defenses, affirmative defenses to foreclosure, discovery, foreclosure defense, original note
Posted in Eviction |

It is our theory that the real party in interest on the lender side is the owner of the asset backed security issued by the SPV. The security is usually a "securitized" bond deriving its value from the underlying mortgages of which yours is one. Thus a quiet title action against "John Doe" and served by publication might eliminate the…[...]

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Tags: borrower, Complaint to Quiet Title, foreclosure defense, foreclosure offense, Investor, Mortgage, note
Posted in Eviction |