Upon finding that a portion of those payments should be applied to the subject loan, the declaration of default would be invalid because it would either be wrong inasmuch that the third party payments would at least be prepayments of future monthly payments, or wrong because the third party payments reflected an inaccurate accounting of […]

Tags: accounting, adversary, bankruptcy, credit default swaps, creditor, Federal Bailout, foreclosure, insurance, schedules, secured claims, securitized mortgage, third party payments, unsecured creditors
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