Modifications are tricky. They are trickier than you think. First of all the offer is made by a company who has no right to act as “servicer” or to change the terms of your contract. By changing the apparent lender or creditor to the named servicer, the agreement is probably tricking you into accepting a […]

Tags: "modification" agreement, delinquency, hardship
Posted in Corruption, discovery, legal standing, Modification, Motions, Servicer |

Despite various “reports” from the Obama Administration and writers in the fields of real estate, mortgages and finance, the crisis is still looming as the main drag on the economy. Besides the fact that complete strangers are “getting the house” after multiple payments were received negating any claim of default, it is difficult to obtain […]

Tags: deficiency judgments, delinquency, foreclosures, mortgages, notes, Obama
Posted in Corruption, evidence, expert witness, foreclosure defenses, Modification, Pleading, securities fraud, Servicer |

GET LOAN SPECIFIC RECORDS PROPERTY SEARCH AND SECURITIZATION SUMMARY FTC v Countrywide Home Loans Incand BAC Home Loans ServicingConsent Judgment Order 20100607 Editor’s Comment: This “tip of the iceberg”  is important for a number of reasons. You should be alerted to the fact that this was an industry-wide practice. The fees tacked on illegally during […]

Tags: Appraisal, Bank of America, bo-doc, california foreclosure, countrywide, delinquency, excessive fees, Federal Trade Commission, feeder originators, fees, FTC, interest rates, investors, loans, Merrill Lynch & Co., mortgage backed securities, Notice of Default, Notice of Sale, points, Quicken, underwriting
Posted in Corruption, Eviction, evidence, expert witness, foreclosure mill, Modification, securities fraud, Servicer |

Editor’s Comments: Everyone now has heard of credit default swaps but very few people understand what they mean and fewer still understand their importance in connection with the securitization of residential mortgage loans and other types of loans.The importance of understanding the operation of a CDS contract in the context of foreclosure defense cannot be […]

Tags: accounting, CDS, credit default swaps, creditor, DEBTOR, default, delinquency, downgrade, excess proceeds, loss reserves, non-payment, payment, pretender lender, TILA
Posted in bubble, Corruption, Eviction, securities fraud |

“The problem is not that the mortgages are in default. The problem is that the investment banks are in default of their obligations to investors and homeowners. Until Government and the Courts realize this simple fact, they will never untangle the debris caused by the illusion of a crash. If that day ever comes, more […]

Tags: AIG, AMbac, CDO, default, delinquency, FGIC, Goldmn Sachs, Janet tavakoli, John Paulson, Paykin Krieg and Adams LLP, Thomas Adams
Posted in bubble, Corruption, Eviction, securities fraud |