The FBI seems to be assuming that all mortgage fraud is by borrowers, appraisers and mortgage brokers. The perception is that the lenders were victims. Sometimes that is true, but most of the time it isn't. Prosecutors fail to note that in virtually every case, the lender knew exactly what was going on and went along with it anyway because…[...]

Continue Reading

Tags: appraiser liability, criminal mortgage fraud, Las Vegas mortgage fraud, mortgage broker liability, mortgage meltdown
Posted in Eviction |

Steven of Portsmouth, VA (05/24/08) My mortgage was on military allotment and Chase said that they had not received payment several times that they had, or they would hold payments saying thet they weren't received until there were late fees due.  I ended up in foreclosure with nobody believing that I was being ripped off until after I was forced…[...]

Continue Reading

Tags: Chase, foreclosure, predatory lending
Posted in Eviction |

In 1999 we purchased a cozy 3 br. home with the help of Citi Financial. We had 2mortgages on this home. Our payments were high,which was due to our past credithistory, but we were on the way to cleaning our credit up that is until I became very ill and then developed an injury on top of it. I ended up loosing…[...]

Continue Reading

Tags: foreclosure, predatory lending
Posted in Eviction |

HERE IS AN OUT-OF-THE BOX OFFENSIVE PROCEDURE WE PROPOSE. YOUR COMMENTS APPRECIATED. IT IS BASED UPON THE ASSUMPTION THAT THE LENDER ASSIGNED OR TRANSFERRED OR SOLD THE MORTGAGE AND NOTE RIGHT AFTER THE CLOSING ON YOUR TRANSACTION. LOGICALLY THEN THE PERSON TO WHOM YOU WOULD ADDRESS YOUR TILA, FRAUD, AND DECEPTIVE AND UNFAIR PRACTICES CLAIMS WOULD BE ADDRESSED TO THE…[...]

Continue Reading

Tags: ABS, CDO, civil procedure, CLO, CMO, foreclosure defense, foreclosure offense, fraud, quiet title, tranche
Posted in Eviction |

it is a lesson again to practitioners like myself who were convinced there was no answer to the “final order” conundrum: No matter how crazy the tactic might sound, you’re only wrong if you lose. Appeal Your Own Victory? Yes, Indeed! By Wendell Sherk, Missouri Attorney on Jun 2, 2008 in Bankruptcy Cases of Interest,Bankruptcy Practice and Procedure, Chapter 13 Bankruptcy, Missouri Taking an appeal…[...]

Continue Reading

Tags: appeal, Chapter 13, chapter 13 plan, foreclosure defense, foreclosure offense
Posted in bubble, Eviction |

Remember that rescission doesn't mean you give back the house. It doesn't even mean you have to give back the money to the lender against whom you are rescinding --- THAT obligation commences AFTER the lender admits to the rescission or it is otherwise decreed and then it is reduced by the refunds of points, interest, closing costs you paid…[...]

Continue Reading

Tags: bankruptcy, CDO, CMO, EMERGENCY INJUNCTION, fiduciary duty, HELOC, legal standing, over-stated income, rescission, stated income loans, STOP FORECLOSURE, STOP SALE, TILA rescission, verification of income
Posted in bubble, Eviction |

The good news is that there are people out there who are looking to help you. The bad news is that most of them are not out to help you but rather to help themselves. Check references carefully. Beware of big promises and too little information. Foreclosure defense in the mortgage meltdown and credit crisis environment brings out the worst…[...]

Continue Reading

Tags: ARIZONA, foreclosure defense, mortgage fraud, mortgage meltdown
Posted in bubble, Eviction |

Figures don't lie but liars figure. See if you figure this one out. Home sales statistics announced to the public do not include cancellations which are running at 30%. The good news is that cancellations are declining lately so maybe the figures lie, but not as much as they did? New Home Sales and Cancellations by CalculatedRisk Barry Ritholtz discusses the…[...]

Continue Reading

Tags: April New Homes Sales, cancellations, Census Bureau, housing slump, mortgage meltdown
Posted in Eviction |

BK Judge Rules Stated Income HELOC Debt Dischargeable by Tanta This is a big deal, and will no doubt strike real fear in the hearts of stated-income lenders everywhere. Our own Uncle Festus sent me this decision, in which Judge Leslie Tchaikovsky ruled that a National City HELOC that had been "foreclosed out" would be discharged in the debtors' Chapter…[...]

Continue Reading

Tags: bankruptcy, borrower, due diligence, HELOC, lender, NATIONAL CITY
Posted in Eviction |

People ask me, will they really settle? Of course the question is from borrowers and they are asking if they can actually do something about the millions of foreclosures, default cases and upside down equity cases totaling more than 10 million homes in the U.S. alone. The answer is yes, especially now --- because the financial institutions are doing everything…[...]

Continue Reading

Tags: credit crisis, DEED IN LIEU, Fed, FINANCIAL MARKETS, foreclosure defense, FORECLOSURE SETTLEMENT, FOREIGN COLLATERAL, mortgage meltdown, short sales
Posted in bubble, Eviction |