Archives by Tag ' quiet title '
REPUBLIC TITLE ANNOUNCEMENT: The Company will not insure title to any property which has been foreclosed by Ally Financial, Ally Bank or GMAC until further notice. This follows a series of similar announcements over the past year from smaller title companies who, recognizing the enormous liability that the banks were attempting to shift to them, […]
SERVICES YOU NEED “Then guy then laughed nervously and said, “Well, if you’re right, we’re ****ed. We never transferred the paper. No one in the industry transferred the paper.” Editor’s Note: It is very rewarding to see the work of Karl Denninger and others who are taking my work and not only moving it along, […]
9.09.10 NY MERS NO AUTHORIY DISMISSED MERS tried to Quiet Title. In so doing they paved the way for millions of homeowners to sue MERS to quiet title. The net result is that the encumbrance is invalid. That means the debt, the obligation, MIGHT exist, but it is NOT secured by the home. I’d say […]
The Ocwen Court provided an example for clarity: “Suppose an S & L signs a mortgage agreement with a homeowner that specifies annual interest rate of 6 percent and a year later bills the homeowner at a rate of 10 percent and when the homeowner refuses to pay institutes foreclosure proceedings. It would be surprising […]
Failed Bank Information Information for IndyMac Bank, F.S.B., and IndyMac Federal Bank, F.S.B., Pasadena, Introduction Press Release Acquiring Financial Institution Question and Answer Sheet En Español Chinese Language Version (350 kb PDF File PDF Help) Banking Services Loan Customers Unclaimed Deposits Possible Claims Against The Failed Institution FAQ re IndyMac “No Value” Determination Priority of […]
From Max Gardner – QUIET TITLE GRANTED Bellistri v Ocwen Loan Servicing, Mo App.20100309 Mortgage Declared Unenforceable in DOT Case: NOTE DECLARED UNSECURED “When MERS assigned the note to Ocwen, the note became unsecured and the deed of trust became worthless” Editor’s Note: We know that MERS is named as nominee as beneficiary. We know […]
YOU DON’T NEED TO BE DELINQUENT TO SETTLE OR MODIFY. It might just be a good time to pick up the phone right now and call the servicer, trustee, or whoever is saying they have your loan (even though they don’t) and make a deal. Think about it first. Don’t be too generous to them […]
Editor’s Note: Principal reduction can be achieved in more ways than one. Here Non-profit Lenders see the clear opportunity to buy mortgages from dubious sources and then enter into new mortgages with the homeowner thus preventing eviction and restoring the homeowner to non-distress status. The problem here is that title is not clear and eventually […]
“Many economists and mortgage experts have concluded that banks must ultimately forgive loan balances to restore equity to underwater borrowers. Otherwise, growing numbers will walk away from their homes and accept foreclosure rather than make payments on properties in which they no longer own a stake.” Editor’s Comments and Notes: The Obama Administration has finally […]
Remember that $700 billion in TARP? It was dwarfed by other government programs including one from the Federal Reserve. The Federal Reserve went from a non-existent player in the mortgage backed security market a year ago to owning $904 billion of the mortgage backed securities today. But we don’t seem to be getting or seeing […]
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