While We Were Sleeping, Idaho Took the Lead: In re Sheridan — Real Party Must Have Actual Pecuniary Interest

 
NOW AVAILABLE ON AMAZON KINDLE

“The real party in interest in relief from stay is whoever is entitled to enforce the obligation sought to be enforced. Even if a servicer or agent has authority to bring the motion on behalf of the holder, it is the holder, rather than the servicer, which must be the moving [...]

Technology and Professional Responsibility: NewTrak and Required Due Diligence -”Plausible Deniability” collides with reality

The Judge authored a 58 page opinion ”to share my education with participants in the bankruptcy system who may be similarly unfamiliar with the extent that a third party intermediary drives the Chapter 13 process.” Opinion, p. 30.

where, as here, the debtor contests the relief sought, the flaws in the automated process become apparent. At this juncture, an attorney must cease processing files and act like a lawyer. That means she must become personally engaged, conferring with the client directly and abandoning her reliance on computer screens as an expression of her client’s will. This did not happen in this case until the Court became involved. It should not have taken judicial intervention to bring the Claim Objection to its conclusion.

Time to Write to Obama, Senators and Congressman

Many Thanks to Ron Ryan, Esq. representing the Tucson Bankruptcy Bar for the submission below:
Editor’s Note: Obama wasn’t kidding when he he said the thing that humbled or frustrated him the most was how slow Washington is to “get on board.” Dick Durbin had the class and guts to say it outright. The banks own [...]

Cramdown Vote: Banks Bought Senators On The Cheap

Sen. Dick Durbin (D-Ill.) introduced legislation in the Senate Thursday which would allow homeowners in bankruptcy to renegotiate — or cramdown — mortgages with banks. His corresponding amendment to the House-passed bankruptcy reform bill is scheduled to be voted on at 2:30. (Read the whole thing.)
The measure is widely expected to fail, as crucial Democratic [...]

Reality Check: Holder in Due Course Doctrine is not some fancy trick to get out of paying

Too many people are looking for an easy way out and reporting that Judge’s don’t like their arguments because they are going into court saying they don’t owe the money and there is no obligation. This argument starts you off on the wrong foot and heads for disaster.
The better approach is to start off with [...]

MERS: 57 million mortgages on its Books: MSNBC Stuckey — Lenders passed around the deed to Vargas’ house as if it were a whiskey bottle at a frat party

Great Song says it All- Click to Play: Shuttin Detroit Down
cnbc-airs-house-of-cards-closer-to-the-truth-but-not-quite-there-line-up-the-story-of-the-borrower-and-the-story-of-the-investor-and-they-are-the-same
civil-disobedience-on-the-rise-as-sheriffs-refuse-to-serve-evictions-%E2%80%9Ci-refuse-to-leave-the-home-that-i%E2%80%99ve-worked-so-hard-to-keep-i-will-not-let-the-bank-take-my-home-and-i-will-not
D-Day vet’s tale parallels mortgage meltdown
Ex-corpsman, 84, blames ‘greed, greed, greed’ as he faces losing his home

By Mike Stuckey
Senior news editor
msnbc.com
Feb. 17, 2009
CERRITOS, Calif. – Questions linger here, as ripe and nagging as the odor that once wafted over this former dairy capital: Who is [...]

WSJournal – “Servicers are limited in their ability to modify mortgages”

Key points
-“servicers are limited in their ability to modify mortgages”
READ: they have no authority to modify nor authority to foreclose
This is why so many are “strung along” thinking they are waiting to be approved for a loan modification and at the eleventh hour are told they “weren’t approved” and then the following week get a [...]

“System is Broken” — there is no clear title and no clear answers, which is why most foreclosure actions should fail or be reversed

Mortgage market clouds who owns woman’s house
Submitted by Jose Semedey — Thank You
By CARRIE TEEGARDIN
The Atlanta Journal-Constitution
Sunday, January 25, 2009
Twenty years ago, Zella Mae Green bought a modest brick ranch house in DeKalb County with an American ideal in mind. The single mother of four, who raised her children working low-wage jobs, wanted to own [...]

Credit Card Issuers See the Writing on the Wall: Forgiveness of Debt — they also got paid in full through securitization, so there is no obligation owed to them

Credit Card Companies Willing to Deal Over Debt
Bank of America says it eased off on more than 700,000 credit card holders in 2008, lowering interest rates and some balances.
By ERIC DASH
Published: January 2, 2009
Hard times are usually good times for debt collectors, who make their money morning and night with the incessant ring of a [...]

From FAQ: Powers of multiple Trustees and effects of multiple beneficiaries AND getting soemthing recorded before the foreclosure sale takes place

1. It isn’t illegal or prejudicial to a plaintiff trustee’s case for it to have acquired rights or be assigned a mortgage AFTER a borrower is in default — but it DOES raise issues of fact that must be heard by the Court. Since the Mortgage went into default there are several possibilities:
(a) under the [...]