The Mortgage Forgiveness Debt Relief Act and Debt Cancellation If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable. The Mortgage Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through […]

Tags: bankruptcy, borrower, credit, housing, Lender Liability, mortgage meltdown, predatory lending, rescission, TILA audit
Posted in bubble, Corruption, Eviction, Modification, securities fraud |

Fellow travelers, I just had my first incident and wanted to warn everyone. New client comes to see me after just being served. Wells (not original lender) sends them a “package” of documents after they are 30 days late telling them all about their efforts to work with them and prevent foreclosure. Enclosed was a […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, rescission, securitization, TILA, trustee, Wells Fargo
Posted in Corruption, Eviction, Modification, securities fraud |

SUBMITTED BY NY Problems with a Loan Modification: The borrowers will think they are modifying their current loan when in fact they are starting all over again. The Foreclosing entity which lacks standing to bring lawsuit, is not authorized to modify anything since they are not the owner of the loan in question. Since the […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, LOAN MODIFICATION, lost note, rescission, securitization, TILA audit, trustee
Posted in bubble, Corruption, Eviction, Modification, securities fraud |

NY Times second lead article is how are these “Troubled Assets” going to be valued? 97 cents on the dollar (management), 87 cents (S&P at current default rates), 53 cents under “bleaker” (undefined conditions), 38 cents where the trading markets value them, or 0 cents on the “Garfield Continuum Index.” ? why the disparity? What […]

Tags: audit, bailout, borrower, disclosure, Eviction, Federal reserve, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, securitization, trustee
Posted in Corruption, Eviction, securities fraud |

I agree completely. She proposes a revolution of sorts of simply not leaving. No reason to since the people who foreclosed didn’t have any right to do so. You never owed them a penny and the investors who put up the money never saw a penny even after foreclosure. griffin.mortgage.squatting.cnn?iref=videosearch <script src=”http://i.cdn.turner.com/cnn/.element/js/2.0/video/evp/module.js?loc=dom&vid=/video/us/2009/01/30/griffin.mortgage.squatting.cnn” type=”text/javascript”></script><noscript>Embedded video from […]

Tags: borrower, disclosure, Eviction, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, rescission, securitization, TILA audit, trustee
Posted in Corruption, Eviction, securities fraud |

Utah’s MagnetBank closed without an acquirer FDIC shuts down three banks in one day amid ongoing credit crisis By John Letzing, MarketWatch Last update: 6:42 p.m. EST Jan. 30, 2009 SAN FRANCISCO (MarketWatch) — Federal regulators closed three banks in a single day Friday, as the ongoing credit crisis showed no signs of abating. Utah’s […]

Tags: borrower, credit, credit crisis, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, lost note, mortgage meltdown, predatory lending, quiet title, rescission, securitization
Posted in bubble, Corruption, Eviction, securities fraud |

I caught this from the comments section: He’s right and I think if you look in the statutes of every state and industry standards that are published by Notary Associations you will find the same language. The fact that the Title agent is the closing agent is the Trustee on the Deed of Trust DOES […]

Tags: borrower, disclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, predatory lending, rescission, securitization, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

Obama is of course correct in his outrage. Taking hundreds of billions of dollars from the taxpayers to cover the appearances of catastrophic losses and then paying bonuses for good management is over the top by any standards. But neither he nor the media is correct in assuming that that the bonuses were not in […]

Tags: bailout, borrower, countrywide, disclosure, Federal reserve, foreclosure defense, foreclosure offense, fraud, housing, inflation, Lender Liability, Obama, predatory lending, rescission, RESPA, RICO, securitization, TILA, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

Mortgage market clouds who owns woman’s house Submitted by Jose Semedey — Thank You By CARRIE TEEGARDIN The Atlanta Journal-Constitution Sunday, January 25, 2009 Twenty years ago, Zella Mae Green bought a modest brick ranch house in DeKalb County with an American ideal in mind. The single mother of four, who raised her children working […]

Tags: audit, bailout, bankruptcy, borrower, Chapter 13, disclosure, Eviction, foreclosure defense, foreclosure offense, lawyers, Lender Liability, lost note, Mortgage, mortgage meltdown, predatory lending, quiet title, rescission, RESPA, RICO, securitization, TILA, TILA audit, trustee
Posted in bubble, Corruption, Eviction, securities fraud |

The home you save could be your own In foreclosure crisis, more Americans representing themselves in court By Mike Stuckey Senior news editor msnbc.com updated 4:25 a.m. MT, Wed., Jan. 28, 2009 Luis Molina is not a lawyer and he has never played one on TV. But that didn’t stop him from putting on his […]

Tags: borrower, credit crisis, disclosure, foreclosure defense, foreclosure offense, fraud, housing, inflation, lawyers, Lender Liability, lost note, mortgage meltdown, predatory lending, quiet title, rescission, RESPA, RICO, securitization, TILA audit, trustee
Posted in bubble, Corruption, Eviction, securities fraud |