Posts Tagged ‘modification’
NY Times- The Bank of America Settlement/Boondoggle- Bad For Americans
Author: Matthew D. Weidner, Esq.
Every time we hear news of some grand plan or settlement, I know it’s bad news for my people, my clients, the men and women on the street.
And that’s why I have been paying particular attention to the BANK OF AMERICA $8.5 BILLION SETTLEMENT! The bank’s gonna write a big fat check, that’s good….right? Wrong, wrong, wrong. The 50 state AGs are nearing a settlement, that’s good….right? Wrong, wrong, wrong.
The problem is there is noone sitting at these big fancy conference tables speaking for the American people, for the homeowners living in homes but unable to get a modification or fair break from the servicers. What these deals do provide is outsized benefits to all the Fat Cats sitting in the big tall buildings in large and opulent rooms.
Read this article carefully. Bank of America thinks this deal is going to mean quicker foreclosures. They think they’re going to ink this boondoggle then somehow they’re going to press through and throw homeowners out more quickly. What they forgot about is that there are dedicated and passionate attorneys working in humble offices all across this country who wake every single morning, committed to the challenge of protecting their clients and keeping them in their homes.
Hey BofA, you think you’re going to kick our people around? Bring it on. Or better yet, give us a seat at the table. Let my people pay. We’re reasonable. Talk to us. Mediate in good faith. Let us be part of the solution. Or we will be a real big problem.
Read the New York Times Article
THE ULTIMATE SELL OUT- THE BANKS AVOID ALL LIABILITY, TAXPAYERS PAY MORE
Author: Matthew D. Weidner, Esq.
We have become a disgusting, lawless and overtly corrupt nation where no rules or laws apply to the banks and institutions. Dispense with all your naive notions of justice, fairness and law, because in this new era these concepts do not apply if your crimes and conspiracies are big enough.
Buying a Foreclosed Property? NO WAY! It’s Buyer Beware and Title Problems GALORE!
Author: Matthew D. Weidner, Esq.
There are people poking around, some brave, some uninformed who are buying foreclosed property. THEY COULD BE BUYING INTO TROUBLE.
Think title insurance will protect you? Think again. There are so many complex reasons why this simply is not so in the context of foreclosure cases, but the bottom line is…..YOU CANNOT COUNT ON TITLE INSURANCE TO PROTECT YOU FROM A FAULTY TITLE.
Think your realtor or title company will protect you? NEITHER YOUR TITLE COMPANY OR REALTOR CAN BE HELD LIABLE IN MOST CASES FOR TITLE PROBLEMS.
What does this mean? From the Huffington Post:
Buyers of property at foreclosure are looking for a bargain, but that risk now must include the possibility that the title will be defective. One unsuspecting family purchased a home at foreclosure, intending to sell it to their daughter, only to have a title company question whether they acquired good title after they’d already invested $100,000 in renovations. (Nightmare in Land Court, Mass. L.J.) In the wacky world of securitized mortgages, who owns the mortgage is a ‘shell game’ worthy of the most accomplished back-street hustler. How securitized mortgages caused the collapse of the American economy is an oft-told tale that needn’t be repeated here.
OOHOORAH! Foreclosures Suspended for Active Duty Military!
Author: Matthew D. Weidner, Esq.
Fraudclosuregate- Video Explanation of the Coming Economic Collapse
Author: Matthew D. Weidner, Esq.
The tragedy and treason of our foreclosure courtrooms is just a symptom of the much larger economic, political and legal rot that has swept across this country virtually unchecked. The banks and institutions own us all. Their evil machine has spun wildly out of control such that no one. Not them, not our elected officials, not our appointed officials and not our judges have any idea how to get us out of the catastrophic mess we’re in.
MAY GOD HELP US ALL
Part 1:
Part 2:
Part 3:
Who’s To Blame When Mortgages Aren’t Modified or Short Sales Are Not Approved? Noone Knows?
Author: Matthew D. Weidner, Esq.
In far too many cases, homeowners are refused reasonable modifications and short sales are not approved…and nonone really knows why….or who is making the decisions. The article attached here and first published on loansafe.org should have everyone thinking.
Why are we allowing billions of dollars in property and capital be transferred by judicial process to corporations that cannot be identified and who engaged in fraud and potentially criminal acts?
One thing we all need to be far more educated about is the fact that the named plaintiff in foreclosure cases is often times just that, a plaintiff in name only. We know from depositions and the shifty maneuvering of lenders and their affiliates that the real parties pulling the strings are operating in the shadows. We only begin to understand and appreciate that the Plaintiff doesn’t have real interest in the outcome of the case when their courthouse maneuvering is brought to the attention of judges…and this is often met with a shrug of the judicial shoulders.
How many ex-parte Motions to Substitute Party Plaintiff, Assignments of Bids or Post-Judgment Change in Certificate of Title Orders have been entered in courtrooms all across this state and across the country? (The answer is probably tens of thousands, but because no-one is watching, who knows?)
How many Assignments of Mortgage or Endorsement of Note were entered when the authority and veracity of these important documents was questionable at best. (The answer is definitely in the hundreds of thousands.)
How many foreclosure cases have been filed where the capacity of the plaintiff seeking to invoke the court’s power has been properly pled? (By my estimation the number is fewer than 10% of the cases filed in this circuit and I doubt whether this is number is higher in any other circuit.)
I get back to those key questions that continue to perplex me…..
Why are we allowing billions of dollars in property and capital be transferred by judicial process to corporations that cannot be identified and who engaged in fraud and potentially criminal acts?
Why are our circuit courts just ignoring basic elements of rules and law just so they can plow through these foreclosure cases?
Why the big rush to conclude these foreclosure cases? What’s going to happen to all the foreclosure inventory? Who can afford to purchase all the foreclosed REO homes?
For more on that last question, read another article that appeared on loansafe.org that reports lenders taking back more than 4,000 properties per month in South Florida. This number will only accelerate as courts adopt the new Rocket Docket procedures, but what in the world are the lenders going to do with these properties once they get them….I’m thinking it will be a big case of, “Be careful what you wish for, because you might not like what you get……”
