Five Bad Reasons to Avoid Principal Correction (Reduction)

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 [...]

Why Everyone Should Support Principal Corrections on Mortgages

First, let’s talk to the guy that says homeowners shouldn’t get a break because it would be unfair to him. After all he paid his mortgage and he is still paying his mortgage and nobody is helping him, right? Wrong. Everyone who has a mortgage is getting a federal subsidy. They get to pay less [...]

Fannie and Freddie Platinum Sponsors with (MERS and LPS) of Upscale Event for Bankers

MOST POPULAR ARTICLES GET COMBO TITLE AND SECURITIZATION ANALYSIS – CLICK HERE UNDERLYING THEME: HOW TO GET THE SIGNATURE OF HOMEOWNER WITHOUT ALERTING ALL HOMEOWNERS THAT THEIR SIGNATURE IS NOW A VALUABLE COMMODITY AHC AND LIVINGLIES ANNOUNCE LAUNCH OF AMGAR EDITOR’S COMMENT: Are they really that tone deaf? It appears the answer is yes as [...]

3,900,000 Visits and Moving Faster. OUR 3RD ANNIVERSARY — THANK YOU!!

SUBSCRIBE TO LIVINGLIES MEMBERSHIP FOR DISCOUNTED SERVICES, NEWSLETTER AND FREE TELECONFERENCES Livinglies fulfills its commitment to becoming the #1 internet resource in foreclosure defense and offense (claims for damages for wrongful foreclosure or improper lending practices). DON’T ASSUME YOUR LOAN IS IN DEFAULT — IT PROBABLY ISN’T EVEN IF YOU DIDN’T MAKE A PAYMENT! DON’T [...]

The Myth of the Credit Bid – Red-Handed

COMBO TITLE and SECURITIZATION Search, Report, Documents and Comprehensive Analysis SUBSCRIPTION MEMBERSHIP WITH BENEFITS Credit Charles Koppa (Poppa Koppa) with putting me onto this. He does GREAT work. poppakoppa@hotmail.com. He’s not lawyer but I trust him more than I do most lawyers to get to the bottom of things. He’s kind like one of those [...]

REad This: Now We are Getting Down to Business

My only comment is that this is an excellent piece of reporting by Bernstein and Eisinger at ProPublica that should be read and used as the basis for understanding what is going into your legal memorandums across the country. GREAT JOB!! 2010/08/29 at 1:52 am The Wall Street Money Machine Banks’ Self-Dealing Super-Charged Financial Crisis [...]

FED BANS YIELD SPREAD PREMIUMS

A YIELD SPREAD PREMIUM IS A FEE PAID TO A BROKER FOR CREATING A FRAUDULENT PROFIT BY LYING TO THE CUSTOMER WHO BUYS A FINANCIAL PRODUCT. This particular lie would be about the rate on the loan. One would think this was already illegal and one would be right. Not only is it specified in [...]

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 [...]

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 [...]

Banks Fighting Subpoenas From FHFA Over Access to Loan Files

WHAT IF THE LOANS WERE NOT ACTUALLY SECURITIZED? In a nutshell this is it. The Banks are fighting the subpoenas because if there is actually an audit of the “content” of the pools, they are screwed across the board. My analysis of dozens of pools has led me to several counter-intuitive but unavoidable factual conclusions. [...]

Accounting is HOT! Devil is in the Details

From usedkarguy To: M. Soliman, I wrote to Neils’ blog over 10 months ago stating the exact facts that you are promulgating here in this recent post. I have been in litigation for over a year now and have been removed to US Dist. Court recently, at the behest of Deutsche Bank. They have brought [...]

TBW Taylor Bean Chairman Arrested On Fraud Charges

“The fraud here is truly stunning in its scale and complexity,” said Lanny A. Breuer, assistant attorney general in the criminal division of the Department of Justice. “These charges send a strong message to corporations and corporate executives alike that financial fraud will be found, and it will be prosecuted.” Once they determined that that [...]

Housing Market Slows as Buyers Get Picky

Editor’s Note: Housing prices will continue to decline until median income starts to flatten out. All signs indicate that we are in for another 10%-20% drop as conventionally measured. Remember that housing prices do NOT take into consideration selling expenses and concessions at closing. All things considered, housing prices should be at least 8% under [...]

Finally, Borrowers Score Points

“The court certainly agrees that ‘mistakes happen,’ ” Judge Bohm wrote. “However, when mistakes happen not once, not twice, but repeatedly, and when actions are not taken to correct these mistakes within a reasonable period of time, the failure to right the wrong — particularly when the basis for the problem is a months-long violation of [...]

AFTER THE SALE: PART I

Submitted by Charles Koppa. 6/9/2010 Editor’s Note: We are starting to look at events AFTER the sale has taken place and we are discovering a number of things: CREDIT BID: Only the Creditor can submit a credit bid. All others must pay actual money. If a non-creditor submitted a credit bid (essentially bidding the “amount [...]

non-judicial sale is NOT an available election for a securitized loan

NON-JUDICIAL STATES: THE DIFFERENCE BETWEEN FORECLOSURE AND SALE: FORECLOSURE is a judicial process herein the “lender” files a lawsuit seeking to (a) enforce the note and get a judgment in the amount owed to them (b) asking the court to order the sale of the property to satisfy the Judgment. If the sale price is [...]

Allocation of Third Party Payments and Loans to Specific Loan Accounts

TURNING A DEFENSE INTO AN AFFIRMATIVE DEFENSE FOR SET OFF AND A CLAIM OR COUNTERCLAIM FOR DAMAGES AND ATTORNEY FEES So the question is how would you allocate third party payments and what difference will that make to a Judge hearing the case. ASSUMPTION: XYZ Investment Banking Holding company has received a total of $50 [...]

Another Strategy to Own Your Loan: Allocation of Third Party Payments to Your Loan Account

I’m told by some industry insiders that you can buy a piece of our loan for pennies on the dollar, much the same as NPR did when they wanted to track the money and documents through the securitization structure. That’s a good goal because it will give you “inside information” on what the pretender lenders [...]

ACCEPTANCE OF THE ASSIGNMENT AND STATUS OF THE ASSIGNMENT

OK so you feel a little lost. That is because most of us are jumping in at the end of a long series of events and documents. The most important point for you to make in order to jar the Judge’s thinking is that the closing with the borrower took place in the middle of [...]