Archives by Tag ' fair market value '
INTERESTING NUCLEAR OPTION: “A credit bid submitted by anyone, whether authorized or not, might well be an admission (or at least a question of fact allowing the homeowner to go forward in discovery) that the amount owed was far less than the amount demanded in the Notice of Default and demands for collection. The point […]
Editor’s Comment: The more people look at it, eminent domain looks like a good option that is fair and reasonable and smokes out the REAL creditor. Thus the Banks are up in arms about it and using every bit of lobbying and political muscle to stop it. But the practicalities of eminent domain might trump […]
5 years ago it was obvious to anyone with the facts that the entire system or mortgage origination and mortgage foreclosures had been turned on it’s head, starting with one huge lie: that the value of the property exceeded the amount of the loan. It was in 2005 when 8,000 appraisers warned congress that their […]
APPRAISAL FRAUD IS THE ACT OF GIVING A RATING OR VALUE TO A HOME THAT IS WRONG — AND THE APPRAISER KNOWS IT IS WRONG. This can’t be performed in a vacuum because there are so many players who are involved. They ALL must be complicit in the deceit leading to the homeowner signing on […]
Editors Note: If anything shows the extent of appraisal fraud, it is the sheer number of homes that are under water. These figures while high, report only a fraction of the actual number of homes because of the way they are computed. If you take the asking price, reduce it by at least 4% (which […]
see Magnetar%20Mortage%20Recovery%20Backstop%20Whitepaper%20Jun09.pdf Magnetar Mortage Recovery Backstop Whitepaper Jun09 Two things jump out at me with this paper from June, 2009. First it is obvious that the “real money” investors are defined as those seeking low risk and willing to take lower yield. The fact that they are called “Real Money Investors” underscores my point about […]
Your allegations of intentional misdeeds, fabricated documents and forgeries have new life now that the SEC is hot on the trail of the wrongdoers in a very public way. As the news sinks in more and more Judges, lawyers and experts and forensic analysts will see their role more as a commitment to justice than […]
So in Chapter 11 for the big boys they address reality and treat the value of the property the way it is. But in individual little guy petitions for relief in bankruptcy court, they stick you with the entire amount of the Note even if the security is only worth 20% of the “principal.” And […]
They might have meant to do it and they might not have thought of it, but the effect of the funding created by The Federal Reserve that bailed out the investment banks so that the investment banks could bail out the investors in ABS certificates, is that the mortgages and notes are satisfied twice over […]
Here is a strategy for one person in California whose lenders are GMAC and Countrywide. He is about one week away from sale of his property. Feel free to use what suits you. Keep in mind that the hyper-inflated values used by the appraiser, lender, underwriter, and mortgage broker constitute a violation, in my […]
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