In courtrooms all across this country, basic rules of practice and fundamental rules of evidence and law are being totally ignored and cast aside because, “it’s only foreclosure” and “we’ve got to move these cases along”. But the real question is….
Why the big rush to foreclose on homes?
I mean in this current economy, it’s not like there are nearly enough qualified buyers out there to absorb the current inventory of already foreclosed homes, much less the millions of properties that are in various stages of foreclosure.
Related to this line of questioning is a troubling phenomena of the shifting plaintiff or the unidentified plaintiff, which brings us to the next question I’ve been asking for months now…
Judge, do you have any idea who you are granting foreclosure to?
The fact of the matter is that in the vast majority of foreclose cases sloshing around the system now, noone has any real idea who is the ultimate beneficiary of the foreclosure judgment. I’ve read through many of the Pooling and Servicing Agreements and many of the loans that were supposedly transferred into these trusts were not transferred in at the outset, so why should we believe they will be transferred post judgement? Even when you think a property would go to Citibank because that’s the Plaintiff name and that’s the name on the note, the truth is that loan may be securitized and transferred to another party.
And now back to the shifting plaintiff or the unidentified plaintiff. This phenomena represents a very troubling development for our national security, sovereignty and economic stability. Courthouses all across this country are processing, “substitution of party plaintiff”, “assignments of bid”, “phantom certificates of title” without even thinking of the consequences. In what other court proceeding would judges permit parties to be substituted or switched around mid-litigation on an unsupported request from the litigant? I get that this might happen a time or two, but the widespread nature of this practice is disturbing. Total up the billions of dollars in property that is being transferred in foreclosure courts all across the country, then try and figure out who is taking title and who is benefitting….are they blank check Chinese corporations as we learned from the David Stern prospectus or is it Deustche Bank who is the real Wizard Behind the Curtain, as I recently discovered in a case I am taking to trial July 12, 2010 in Pinellas County? (For more on Deutsche Bank read here.)
Rather than ask any of these questions, we could just adopt the current prevailing philosophy….
Who Cares? It’s Only Foreclosure.