Every mortgage brokers has a simple choice: Falsify the borrowers records or not? Whether or not the borrower chooses to lie about their own income and/or buy more house then they can afford is a separate discussion. Sure, borrowers want to have as much house as possible and yes, many borrowers focused only on monthly [...]
FDIC’s Sheila Blair sues IndyMac
July 21, 2010 By 1 Comment
It’s about time that the government wakes up to the schemes some of these banks are pulling on borrowers and taxpayers. Neil Garfield put it best…”Well you have to give credit to Sheila Baer. She gets it. Here she is going after the IndyMac executives for making loans to developers that they knew would not [...]
Forensic Mortgage Loan Audit Scams: A New Twist on Foreclosure Rescue Fraud says FTC
June 7, 2010 By Leave a Comment
The latest foreclosure rescue scam to exploit homeowners is a forensic mortgage loan audit says the FTC. They should have said MAY BE a scam. What the FTC doesn’t tell you is that it is only a scam if there is no value to the audit. A good audit will analyze your loan not just [...]
Neil Garfield’s Motion Practice & Discovery Workshop
May 17, 2010 By 2 Comments
Join Neil Garfield this weekend. 14 CLE Credits + 1.5 hr MAY 23-24 9:00AM-5:00PM. CHANDLER, AZ. LUNCH INCLUDED. A Garfield Continuum Course. Foreclosure Defense and Offense. CLICK HERE TO SIGN UP INCLUDES EXTENSIVE MANUAL INCLUDING FORMS, NARRATIVES AND CASES. INCLUDES FOLLOW-UP SUPPORT AND MONTHLY TELECONFERENCES NEIL GARFIELD PERSONALLY MODERATES A WORKSHOP FOR LAWYERS AND LITIGATION CONSULTANTS DRILLING [...]
U.S. Bank versus Homeowner…Homeowner wins.
April 13, 2010 By Leave a Comment
Smackdown… Houston area homeowner scores win versus U.S. Bank. Read it here…Final Judgment – US Bank Johnson. While a Default Judgment is unlikely to last forever, U.S. Bank never bothered to answer the lawsuit in the first place. This isn’t the first time a large bank has been forced to negotiate themselves out of [...]
Supreme Court wipes out debt when banks should have known
March 28, 2010 By Leave a Comment
Although we typically advocate bankruptcy as a last, last and then one more last resort, this is an interesting article that shows that sometimes a defense to the banks attempt to collect on a debt is simply: I told you, you should have known, follow the rules. If you or someone you know is facing a battle [...]
Facing foreclosure alone? Don’t try this at home!!!
March 15, 2010 By 1 Comment
Plain and simple – it is dangerous to practice law without actual knowledge of what you’re doing. Not so much dangerous from the standpoint of ”unlicensed practice of law” but instead that a typical homeowner is not prepared to go into court and face a hostile (and possibly knowledgeable) attorney working for the bank plus deal the [...]
GMAC commingled cash. What about the mortgage itself?
March 8, 2010 By Leave a Comment
If GMAC and other mortgage servicers have no qualms about commingling funds for which they have been entrusted (by investors); it is easy to understand they have no problem jerking a single homeowner around with his loan modification or short sale. Anything to make a buck. NEW YORK, March 4 (Reuters) – Moody’s Investors Service on Thursday [...]
Lien stripping in action, let’s just get rid of the unsecured part, shall we?
March 5, 2010 By 1 Comment
David Leibowitz posted a short blurb on stripping liens from a property. Bottom line is that the “underwater portion” of a mortgage may be fair game as it is unsecured. This is a huge benefit for investor or the average homeowner who also has a rental property or two. Too bad it is not readily [...]
