Matt Weidner Snatches A Victory from Jaws of Defeat

CLE SEMINAR: SECURITIZATION WORKSHOP FOR ATTORNEYS — REGISTER NOW

SEE LIVINGLIES LITIGATION SUPPORT AT LUMINAQ.COM

JUDGE REVERSES HERSELF ON REHEARING

SEE 4.18.2011 Order Vacating Judgement and Sale

EDITOR’S NOTE: Persistence pays. Weidner managed to get the Judge’s attention. The devil is in the details and here the Judge realized that there were inconsistencies in the allegations and exhibits. After entering final judgment of foreclosure, the Judge granted a Motion for Rehearing (very rare) and dismissed the foreclosure. 

As more and more Judges actually LOOK at the pleadings and exhibits, and provided the attorney is sharp enough to direct the Judge’s attention to the key deficiencies and inconsistencies, the obvious fraudulent anture of the foreclosure emerges.

This is now drilling down to the supposed note and mortgage, and upon inspection, reflection and analysis, it becomes increasingly obvious that the borrower does not and never did owe any money to the party seeking foreclosure. The issue of identifying the real party in interest who can show they they actually loaned the money or purchased the loan (under circumstances where the mortgage or security traveled with the note and the liability traveled with the note) remains to be penetrated.

There is no doubt that a transaction occurred. In fact, two of them took place and both were connected in fact, although neither one documented the existence of the two transactions being related. One was the purchase of a bogus mortgage-backed security purporting to represent an interest in a non-existent pool of assets and the other was the purchase of a financial loan product purporting to be based upon property  value in excess of the loan.

Anyone who ACTUALLY LOST MONEY in the securitization illusion should be at the table where some resolution is achieved. Anyone who was duped and dumped into signing deceptive “loan”papers that were in actuality the issuance of a unregistered fraudulent securities should be at the same table.

The servicers and other securitizers should not be at that table to get relief. They are the parties who are receiving outsize benefits from the losses and misery of investors and homeowners. They are the ones who should pay whatever is necessary and do whatever is necessary to unravel the mess that was created in our precious housing marketplace.

Tags: borrower, disclosure, foreclosure, foreclosure defense, foreclosure offense, fraud, Lender Liability, mortgage meltdown, predatory lending, rescission, securitization, TILA audit, trustee
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