EDITOR’S NOTE: Every time a Court actually looks at the documents, examines the pleadings and exhibits and asks the most basic questions, they rule in favor of the borrower. It’s not out of bias that they ruled as they did before nor is out of some new bias for borrowers that the latest rulings favor borrowers. It is just application of simple, basic existing law without any need to treat the issues as novel in any way.
The Banks have completed millions of foreclosures side-stepping the issue of whether or not they are in fact the creditor, whether they could submit a credit bid at the auction, whether the money is owed to them, and if they are acting as “agent” whether they will disclose the principal in the transaction. The courts deferred to the banks for too long. Now the Judges are realizing that they have been hoodwinked and that their prior rulings have enabled the worst property title crisis in U.S. history as well as the worst financial scam. The ultimate cost of these errors cannot be calculated in money alone. Ruined lives, divorces and suicides are not just numbers on a page.
SACCI v. MERS | CA Dist. Court “MYSTIFYING, UTTERLY CONFUSING ASSIGNMENTS, SUBSTITUTIONS, HOST OF ENTITIES
Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud Tagged: | 2923.5, American Home Mortgage Servicing, ANGELA SACCI, assignment of mortgage, bankruptcy, borrower, CALIFORNIA, Civil Code § 2923.5, DEED OF TRUST, DOT, fidelity, foreclosure, foreclosure defense, foreclosure fraud, foreclosures, fraud, Judge A. Howard Matz, MERS, modification, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS INC., Power Default Services, Residential Credit Solutions