Archives by Tag ' rescission '
Editor’s Note: Here is another sore point in the mortgage meltdown: Developers were in on it up to their necks. One of the ways the appraisals were skewed was to use the developer’s asking price, which at times was rising by as much as 10% per month, giving the appearance of a rapidly advancing market. […]
By Walter Hackett, Esq. The federal government has trumpeted its Home Affordable Modification Program or “HAMP” solution as THE solution to runaway foreclosures – few things could be further from the truth. Under HAMP a homeowner will be offered a “workout” that can result in the homeowner being “worked out” of his or her home. […]
“The frenzy continues and prices increase because nobody dares to get out, and people fool themselves into thinking they are rich from this paper trail — until it collapses, which is exactly what is about to happen in our boom and bust economy” — July, 2007 It’s hard to believe I wrote this piece back […]
The principal enablers of our current difficulties were institutions that took on enormous risk by exploiting regulatory gaps between banks and the nonbank shadow financial system, and by using unregulated over-the-counter derivative contracts to develop volatile and potentially dangerous products. Consumers continue to face huge gaps in personal financial protections. We also lack a credible […]
Lately I’ve been besieged with a flurry of well written motions that are intended to knock out the pretender lender in one punch. People are asking whether there is one single motion that could just end it all. The answer of course is anything is possible. For the past two years, pro se litigants and […]
See 15522201-Tila-Disclosure-Req-Viol-Remedies Amongst the various emails, requests for assistance and comments on the blog there are some threads. Most people, even lawyers, mistake the remedy of rescission for something else. The first thing you need to know is that, no, you don’t give your house “back” to the lender because you never got your house […]
BofA’s Countrywide loses court ruling on mortgages — Modifications Not Authorized By Investor May be Invalid There is lots of significance about this decision. First it shows that if the investor is going to sue it is going to be against the intermediary pretender lenders and not the borrower — because they don’t want to […]
By Brad Keiser For those of you who have been to our seminars, (coming to Southern California next month) You have heard me ask about Hank Paulson and Ben Bernanke…”Are they stupid or were they lying when they said everything was OK through out all of 2007 and most of 2008?” You have seen and heard why Neil and I declare […]
Another example of why a TILA audit is grossly inadequate. A forensic audit is required covering all bases. Although dated, this article picks up on a continuing theme that demonstrates the title defect, the questionable conduct of pretender lenders and the defects in the foreclosure process when you let companies with big brand names bluff the […]
It’s not just that servicers get more money by pushing the loan further and further into distress. They certainly have that incentive. When the loan becomes “delinquent”, they get more money, when the loan goes into “default”, they get more money, and when the loan goes into “foreclosure”, they get more money. So of course […]
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