Foreclosure Defense Florida

Ibanez- Watch The Banks Crash.

The impact of the Ibanez decision cannot be understated.   For far too long trial courts and even appellate courts across this country have ignored the sloppy or fraudulent practices of the banks, sometimes excusing their conduct, other times explaining it away.   The Ibanez decision made it clear….even banks that are too big too fail have a responsibility to keep basic records and their failure to do so cannot just be ignored.

This decision will reverberate across the country….just wait until the investors wake up to this decision on Monday….oh and what this I hear about these Wikileaks?

There has got to be a fundamental realignment in this country…the rule of law must begin to be re-established…..Ibanez pushes us in that direction.

Wall Street Journal

One Comment

  • StephenH says:

    I think the banks deserve this ruling myself. If the bank messed up the paperwork, split mortgages into pieces and lost the notes, it is their fault not the homeowners.

    When they split the notes and sold them to investors they should have at least maintained a portion that was still owned by the bank and kept a paper trail with names of the investors and which investors own which pieces of which houses. They could together have foreclosed this way if the paperwork was complete. Because the banks messed up the paper trail and did not, the court correctly ruled that the banks no longer own the loan and aren’t the proper party to foreclose it.

    As the result, for these two homeowners the court correctly ruled “Home sweet home” for them.

    As to the remaining loan balance, maybe it could be collected as a unsecured loan if the paperwork is good enough for that.

    Christopher Peterson has an interesting law paper he wrote on the MERS Mess that gives more info on this: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1684729

    William K Black and L Randall Wray also wrote an interesting article on this called “Foreclose on the Foreclosure Fraudsters”: https://www.huffingtonpost.com/william-k-black/foreclose-on-the-foreclos_b_772434.html which says that people whos loans have the paperwork so badly botched that they are not forecloseable and the true owners could not be determined should be able to live in their homes debt free.

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