BANKS HITTING THE WALL

TOP READER PICKS FOR SERVICES AND PRODUCTS EDITOR’S NOTE: This is not just a paper crash, which old-timers like myself will remember from the Wall Street paper-crash of the late 1960′s. Simple logic leads to the inevitable conclusion that property rights and contracts, mortgages, notes and obligation are all about paperwork and recording. The trail is [...]

Bank of America to Pay $108 Million in Countrywide Case

GET LOAN SPECIFIC RECORDS PROPERTY SEARCH AND SECURITIZATION SUMMARY FTC v Countrywide Home Loans Incand BAC Home Loans ServicingConsent Judgment Order 20100607 Editor’s Comment: This “tip of the iceberg”  is important for a number of reasons. You should be alerted to the fact that this was an industry-wide practice. The fees tacked on illegally during [...]

APPRAISAL FRAUD IN DETAIL

APPRAISAL FRAUD IS THE ACT OF GIVING A RATING OR VALUE TO A HOME THAT IS WRONG — AND THE APPRAISER KNOWS IT IS WRONG. This can’t be performed in a vacuum because there are so many players who are involved. They ALL must be complicit in the deceit leading to the homeowner signing on [...]

Liability of Participants in Securitization Chain

The reason for this requirement of transparency and the cutting edge of claiming or clawing back the illicit profits is simple: in a true fair and free market, the lender would know his risk and the borrower would understand the terms. Both would be on alert if unusual fees, profits and kickbacks were known to [...]

What to Ask Your Prospective Attorney

NOW AVAILABLE ON KINDLE/AMAZON! So you have decided to challenge your servicer as to whether they really have the right to collect anything from you and whether they have been turning over payments to the “proper party” (the real lender) and whether they have any information regarding the securitization of your loan, and an accounting [...]

Challenge To Lawyers to Make Money — or do you like stress?

I’m sure many clients have had some conversation or asked for advice concerning their financial situation and in particular their homes. I am the author of this blog site — www.livinglies.wordpress.com — that seeks to aid people who are the victims of illegal lending practices. Most attorneys are passing up an unparalleled opportunity to earn [...]

Mission Statement and Introduction to Blog

This is a developing resource for attorneys and borrowers to assist them in creating strategies and tactics in foreclosure defense and offense. Assistance and comments regarding bankruptcy jurisdiction is also covered. Bottom Line: The procedure invoked by the mortgage meltdown scheme defrauded investors (false ratings and insurance) in asset backed derivative securities, who were the [...]

Bank Errors Abound and they all cost you money

Besides the obvious fraud, breach of duty and illegal disclosure of fees and interest that every lender made by participating in the mortgage meltdown, they continue to make conventional “errors” that can result in extra fees for them and compounding losses for you. Whether it happens in your account or someone else’s account the costs [...]

Mortgage Meltdown: Freezing Home Equity Lines —Remedies

THE BOTTOM LINE: YOU HAVE RIGHTS AND YOU SHOULD EXERCISE THEM. DON’T TAKE THIS NONSENSE LYING DOWN. GO TO YOUR ATTORNEY GENERAL OR WHATEVER AGENCY PROTECTS CONSUMER RIGHTS AND LET THEM BATTLE IT OUT. GO TO THE BANKING COMMISSION IN YOUR STATE AND LET THEM BATTLE IT OUT. THAT MERELY MEANS BORROWING FROM THE WORDS [...]

Bank Fee Disclosures Deficient — same as Mortgages

By Gail Liberman and Alan Lavine Last update: 7:33 p.m. EST March 5, 2008 PALM BEACH GARDENS, Fla. (MarketWatch) — Get out an extra-powerful magnifying glass if you’re trying to learn what fees you’ll be charged once you open a checking or savings account. A U.S. Government Accountability Office report released this week says getting [...]