Archives by Tag ' bankruptcy '
Debtor Without Lawyer Defeats Motion for Relief from Stay, Based on Lack of Standing By Craig Andresen, Minnesota Bankruptcy Attorney on Mar 29, 2009 in Featured, Foreclosure Defense, Mortgage Issues In Bankruptcy, Mortgage Servicer Abuses A Washington bankruptcy court recently agreed with a pro se debtor that mortgage servicing agents do not possess legal standing […]
June 24, 2009 Editorial Real Consumer Protection The federal consumer protection system failed the country, disastrously, in the years leading up to the mortgage crisis. One big cause was the sharing of responsibility for compliance with laws and regulations among several agencies that communicate poorly with each other and tend to put the bankers’ interests […]
Read it and use it: judge-youngs-decision-on-nosek Challenge everything: As we have repeatedly stated, the entire position of the would-be foreclosers is a bluff and a fraud upon the court, the borrower and the system. Non-judicial process is improper procedure and unavailable for securitized mortgages: These astonishing breaches of ethics, duties and contract law together with […]
Judge’s ruling deals blow to national mortgage servicer BY TIM O’REILEY A Las Vegas bankruptcy judge has dealt a blow to an obscure but critical piece of the mortgage enforcement machinery that could slow foreclosures. After a rare hearing in front of three judges last year that initially encompassed 27 cases, U.S. Bankruptcy Court Judge […]
The actual certificates of asset backed securities (ABS) and in particular mortgage backed securities (MBS) were sold to investors. And they weren’t just sold, they “sold forward.” This is a form of short selling wherein the investment bank sells the security first and THEN waits until it can get the underlying mortgage and note at […]
The Judge authored a 58 page opinion ”to share my education with participants in the bankruptcy system who may be similarly unfamiliar with the extent that a third party intermediary drives the Chapter 13 process.” Opinion, p. 30.
where, as here, the debtor contests the relief sought, the flaws in the automated process become apparent. At this juncture, an attorney must cease processing files and act like a lawyer. That means she must become personally engaged, conferring with the client directly and abandoning her reliance on computer screens as an expression of her client’s will. This did not happen in this case until the Court became involved. It should not have taken judicial intervention to bring the Claim Objection to its conclusion.
Many Thanks to Ron Ryan, Esq. representing the Tucson Bankruptcy Bar for the submission below: Editor’s Note: Obama wasn’t kidding when he he said the thing that humbled or frustrated him the most was how slow Washington is to “get on board.” Dick Durbin had the class and guts to say it outright. The banks […]
Sen. Dick Durbin (D-Ill.) introduced legislation in the Senate Thursday which would allow homeowners in bankruptcy to renegotiate — or cramdown — mortgages with banks. His corresponding amendment to the House-passed bankruptcy reform bill is scheduled to be voted on at 2:30. (Read the whole thing.) The measure is widely expected to fail, as crucial […]
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 […]
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 […]
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