Electronic Recording and Delivery act (ERDS)

Thank you Martha Nali: THIS IS IMPORTANT. Anyone with more information on this, please send it in or post it in the comments. Whether this act would have any effect on old transactions, is doubtful, but I would have to see the whole thing and get some comments before I made up my mind. I’m [...]

SCRUTINIZE THOSE DOCUMENTS CAREFULLY!

Interesting comment submitted by Laura. We have been saying on these pages that virtually all documents are fabricated, and then submitted in support of an attempt by a pretender lender to pursue a foreclosure sale. Nothing proves the point better than a document that is notarized without any signature. The further investigation by this homeowner [...]

Mass Extinction of Pools Becomes Clearer

Our good friend “Anonymous” has piped up with more vital information and expressed it more succinctly than I did. “The senior tranches have largely already been paid and closed. Since the junior tranches are paid only if there is left over current payment – after the senior tranches have been paid. Thus, junior tranches are [...]

No Mediation Without True Lender

EDITOR’S NOTE: It wasn’t so long ago that I had to practically pulled teeth to get her attorneys to agree with the proposition that nearly all of the foreclosures were fake.  Matt Wiedner seems to have his finger on the pulse of what is really happening. I think the most important feature of this article [...]

CLASS ACTION FILED AGAINST STERN, MERS

sternclassaction Entered on the Court docket of the Southern District of Florida, a class action for damages has been filed against MERS, the Stern Law Firm and David Stern individually.The lawsuit alleges racketeering under the RICO (Racketeer Influenced and Corrupt Organization Act, 18 U.S.C. Sec. 1962 and 1964) statute, alleging that MERS was created “in [...]

Attorney Available Posting – SF Bay Area

EDITOR’S NOTE: AFTER MUCH FIGHTING WITH MYSELF OVER THIS I’VE DECIDED TO ALLOW POSTINGS FROM LAWYERS LOOKING TO DEFEND HOMEOWNERS. Here is the first one picked at random. I do not know this lawyer. But I think it is important to start allowing people to see what I see. There are many lawyers out there. [...]

Florida: Watch out for Conciliation/Mediation Scam

Florida :Watch out for Conciliation/Mediation Scam ———————————————————————- Florida Default Group is emailing foreclosure defense attorneys with emails stating “Per your request, conciliation will be scheduled for your client…” that is how the are scamming even REPRESENTED defendants out of their right to a third party mediation (not that they are going to work anyway). As [...]

WHY AND WHEN YOU NEED A LAWYER

WHY AND WHEN YOU NEED A LAWYER For the next several days we will consider the use of professionals in connection with mortgage disputes. We’ll cover everything from the most modest modification to bankruptcy, litigation, and appeals. These will also be the subject of several free videos that I’ll record from my home office. The [...]

Demonstrations in the Street

I’ve always been puzzled by the lack of action and reaction of the public to the mortgage crisis. As I write this, it gets worse, more people lose their homes, more homes are beset by adversary relations between family members, more alcohol abuse, more spousal abuse, more child abuse, more anxiety, depression, divorce and grief. [...]

Actual Fraud and Constructive Fraud and Other Fraud

From M. Solimon Editor’s Note: Pretty Good Entry From M. Solimon discussing aspects of fraud. I would add the following: FRAUD: A false statement wherein the speaker knows it is false, intends for it to be relied upon to the detriment of the receiver, who does reasonably rely on it to his/her financial detriment. FRAUD [...]

Elizabeth Warren is the One to Appoint

Here are some things we can all agree on regardless of our position on the appointment. Let’s look at the attributes of this candidate for the job of heading the Bureau of Consumer  Financial Protection: SMART (HARVARD) CREDIBLE WELL-INFORMED EXPERIENCED DEVOTED TO HER DUTIES (CONGRESSIONAL OVERSIGHT COMMITTEE CHAIRMAN) STUDIOUS THOUGHTFUL CAPITALIST IDEOLOGY (BLAMES PEOPLE NOT [...]

The Truth? Read Matt Taibbi in Rolling Stone

64868?RS_show_page=0 EDITOR’S NOTE: How refreshing to see someone who approached this not with caution but with a desire for truth. Read this and you will understand a lot more about the Great Recession. “The “Pig in the Poke” scam is another key to the entire bailout era. After the crash of the housing bubble — [...]

Gretchen “Gets It” but misses the mark

It’s no secret that I admire Gretchen Morgenson of the New York Times. Her articles have penetrated deeper and deeper into the realities and logistics of the Great Financial Meltdown. But she continues to drag myth alongside of reality. True, it is difficult to get your mind around the idea that Wall Street managers WANTED [...]

HERE IS SOMETHING YOU CAN DO–MAKE ELIZ. WARREN HEAD OF BCFP

WHAT IS ABOUT TO HAPPEN: The appointment of the head of the Bureau of Consumer Financial Protection recently created by the new federal legislation on financial reform. Elizabeth Warren and Mary Schapiro essentially defined the job. Ms. Schapiro is already head of the SEC and is  vigorously investigating and prosecuting the mortgage fraud business across [...]

Mortgage Securities It Holds Pose Sticky Problem for Fed

STICKIER THAN THEY THINK: These are not the only mortgage securities they hold and they all amount to ownership of the risk on every loan they purchased. The purchase of course was accomplished in one of many ways — direct and indirect. But when you come down to it, between the GSE’s (which are now [...]

Program to Help Prevent Foreclosures Falls Short

Editor’s Note: The simple reasons for the failure of the Federal program are not just that they lack clearly defined goals; they lack clearly defined understanding of the problems of title and appraisal fraud. Homeowners are sitting with property that is (a) hopelessly underwater (b) with hopelessly clouded title and (c) hopelessly engaged in mandated [...]

Proposal to Place AIG Into Receivership Would Lead to Disclosure of Inner Workings

Editor’s Note: This proposal would reveal what really happened during the lead-up to the mortgage meltdown. The receiver would first take an objective inventory of what AIG (with taxpayer dollars) paid and track the actual transactions instead of REPORTS of the transactions. It would reveal the theme for this week, which is that the loans [...]

MERS CLAIMS VICTORY — AND I CAN FLY

press_details.aspx?id=240 Despite hundreds of decisions over the last three years stating in no uncertain terms that MERS can’t assign anything because it doesn’t have anything to assign, they found this one case to crow about. It all boils down to the fact that since their name is in the title record, they are entitled to [...]

Non-Securitization Effect on Title

I just finished a seminar given by NBI which was basically in lay terms “How to Repair the Chain of Title.” We covered everything about assignments, breaks in the chain etc. The opportunity arose for questions. I was the first to ask a question, in which I posed a hypothetical that is an accurate reflection [...]

What if the loan was not securitized, PART three

This week we are examining the consequences of the proposition that the entire securitization chain is in fact a fabrication. I have likened the situation to a trust, interestingly enough, that has never been funded. The intent to fund the trust does not justify treating the asset as owned by the trust. The intent to [...]