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 [...]

What happened to Joe Nocera?

Sometimes you just have to wonder. Nocera has been an excellent, even if somewhat reluctant investigative reporter who brought almost as much daylight as Gretchen Morgenstern. Like others reporting on the mortgage mess, he has not yet attempted to quantify or even describe the financial damages to investors and homeowners, much less the total financial [...]

MEDIATIONS, MODIFICATIONS, SHORT-SALES AND SETTLEMENTS

SERVICES YOU NEED AUTHORITY AND AGENCY In “Fair Game” Gretchen Morgenson continues to unravel the failing process of “saving homes” while the world ignores the simple truth that legally the homes are in no jeopardy but for the pranks and illusions created by the pretender lenders. There is no valid foreclosure, auction, mediation, modification, short-sale, [...]

GMAC HALTS FORECLOSURES ADMITTING FALSE AFFIDAVITS

SERVICES YOU NEED From testimony in a Chase case, same as dozens of others I have seen —- Q. So if you didn’t review any books, records, and documents or computerized records, how is it that you had personal knowledge of all the matters contained therein? A. Well, I have personal knowledge that my staff [...]

Wells Fargo-Cendent-Cayman Connection Described

livinglies-newsletter-provides-more-strategic-info Submitted by Mary Cachrane Editor’s Note: This is where the original SIV’s stashed the illicit profits they received by taking more money from investors than the amount they intended to use to fund mortgages. We call that the tier two yield spread premium that is also undisclosed at the time of borrower’s closing and [...]

MOVING INTO FIRST POSITION: PRIORITY OF LIENS

livinglies-general-store livinglies-newsletter-provides-more-strategic-info IF YOU HAVE A SECOND MORTGAGE, HELOC OR OTHER JUNIOR LIEN ON YOUR PROPERTY (LIKE AN ASSOCIATION LIEN FOR NON-PAYMENT OF MAINTENANCE), THAT MIGHT JUST BE YOUR TICKET OUT OF THIS MESS. I would add that if you are the holder or the attorney for the holder of junior liens, you should pay [...]

PRIORITY OF LIENS: TWISTED TAIL OF TITLE FRAUD

THE BOTTOM LINE IS THAT CASE LAW IN VARIOUS CASES REPORTED IN THIS BLOG SHOWS THAT WHEN ONE INSTITUTION CONFRONTS ANOTHER, THE APPARENTLY INFERIOR LIEN BECOMES EITHER SUPERIOR, OR THE ONLY LIEN. CONDOMINIUM ASSOCIATIONS, HOMEOWNER ASSOCIATIONS TAKE NOTE: YOUR LIEN MIGHT BE WORTH THE ENTIRE HOUSE IF YOU FILE FOR A DECLARATORY ACTION RAISING THE [...]

LABOR DAY ABYSS

EDITOR’s comment: Everyone seems to agree that nobody really knows the identity of the creditor in the millions of mortgage transactions that were created from 2001 to 2008. Yet the general consensus from the administration and the media is that these transactions should be enforced anyway. The idea of enforcing a transaction in which only [...]

HOW TO ARGUE FLORIDA ASSIGNMENT FRAUD TO JUDGES

Good Stuff —- Now we are working on a script. Comments invited including edits. Let’s get on the same page do what the pretender lenders are doing. We should have a common message that all the Judges hear from all the lawyers. HOW TO ARGUE FLORIDA ASSIGNMENT FRAUD TO JUDGES http://www.amartinezlaw.com In accordance with the [...]

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 [...]

If You Have a MERS Mortgage – Here is Their Deposition

36521121-Full-Deposition-of-William-Hultman-Secretary-and-Treasurer-of-MERSCORP[1] THE BOTTOM LINE IS THAT YOU WON’T FIND ANY MONEY, YOU WON’T FIND ANY DOCUMENTS, AND YOU WON’T FIND ANYTHING OF VALUE, TANGIBLE OR INTANGIBLE AT MERS. THERE IS NOTHING — AT THE BEGINNING, IN THE MIDDLE AND NOW AT THE END. THE WHOLE THING WAS A SHAM, THE CHILD OF SOME FLEETING THOUGHT [...]

Revenue Sharing? How About Revenue Withholding?

It is time to bring back true general revenue sharing — temporarily — to stimulate the economy. Hundreds of articles in political science and public policy journals have studied past efforts, and analyzed the concept of fiscal federalism, without establishing general revenue sharing as a fundamental pillar of Keynesian stabilization policies. This lapse is understandable: [...]

NY J Shack Does it Again

In my June 3, 2008 decision and order in this matter, I granted leave to plaintiff, THE BANK OF NEW YORK, AS TRUSTEE FOR THE CERTIFICATEHOLDERS CWALT, INC. ALTERNATIVE LOAN TRUST 2006-OC1 MORTGAGE PASS-THROUGH CERTIFICATES, [*2]SERIES 2006-OC1 (BNY), to renew its application for an order of reference within forty-five (45) days, until July 18, 2008, [...]

Judges Rising to the Rules

Editor’s Comment: Without inventing anything, an increasing number of Judges are coming to the same conclusion. If they apply the rules and deny the pretender lender the benefit of presumptions to which they were not entitled in the first place, the case can be heard on the merits. They don’t need to decide who is [...]

New strategy attacks validity of affidavits

Foreclosure Crisis New strategy attacks validity of affidavits August 26, 2010 hen it comes to fighting foreclosures, homeowners and their lawyers may have found a new strategy to score courtroom victories. Defense lawyers across the state are increasingly attacking the validity of affidavits that owners of notes must file with the courts as part of [...]

Unconstitutionality of a Power of Sale

THIS IS FROM REUBEN NIEVES. IT IS A GOOD PIECE OF WORK AND HE WANTS COMMENTS AND CONTRIBUTIONS. HE HAS A FINELY MADE POINT HERE AND IT IS SELF-EXPLANATORY. I have always said that the power of sale raises constitutional questions — namely, that no  person should be deprived of life, liberty or property without [...]

E-Discovery, MetaData, and Spoliation of Evidence

EDITOR’S NOTE: AS MY LAUNCH POINT I AM USING THE FOLLOWING COMMENT POSTED TO THIS BLOG. I’M NOT SURE WHO ACTUALLY ORIGINATED MOST OF THE ORIGINAL LANGUAGE FOUND BELOW BUT WHOEVER IT WAS, THEY KNOW WHAT THEY ARE TALKING ABOUT. Almost everything done during this mortgage fraud was accomplished through the use of electronic media. [...]

Max Gardner’s Top Reasons for Wanting a Pooling Servicing Agreement

EDITOR’S NOTE: Lest people think I invented this whole field of law just because I’m loudest about it, here is a post from Max Gardner, who only a few days after I started this blog had already figured out everything I had figured out and was already doing something about it. Max Gardner’s Top Reasons [...]

Securitization Search: Why You Need the PSA

Quoted from April Charney — I’m not sure of the source. She is right on every point.PSA= Pooling and Servicing Agreement EDITOR’S NOTE: Glad to see that April is doing what the rest of us are doing — going deeper and deeper. There are two things you need — the loan specific title search with [...]