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Citi settles fraud cases ties to Texas-based Mortgage Assigner

admin — Wed, 09 Feb 2011 14:23:10 +0000

If facing foreclosure, don’t just give up. Fight for your rights.

“Citigroup paid almost $82,000 in opponents’ legal costs when settling challenges to four bankruptcy claims that used Orion letters in 2010, according to agreements filed with federal bankruptcy courts in New York and Arkansas. The bank reduced interest rates on the remaining debt by an average of 49 percent, while cutting the outstanding mortgage balance in three cases by a combined $55,000, the filings show.”

– The Bank Slayer

Citigroup Settles Fraud Cases Tied to Texas Mortgage Assigner

By Donal Griffin and Dakin Campbell – Feb 8, 2011

Citigroup Inc., the third-largest U.S. bank, settled or lost at least five claims in 2010 brought by borrowers who accused the bank of filing fraudulent mortgage documents provided by a Texas firm.

In the most recent settlement in December, a bankrupt homeowner in Wappingers Falls, New York, challenged Citigroup’s use of a mortgage “assignment,” which shows the transfer of ownership of a mortgage. It was signed by an employee at Orion Financial Group Inc., a Southlake, Texas, firm that provides document services to lenders.

The document was “of fraudulent nature and questionable origin,” the borrower’s attorney, Linda Tirelli, wrote in an August objection to the bank’s claim at U.S. Bankruptcy Court in New York. Citigroup created and filed the assignment after proceedings began because it otherwise couldn’t prove its right to collect the debt, she wrote in an e-mail. The bank denied the allegations and didn’t admit liability in the settlement.

Attorneys general in 50 states are investigating the industry’s use of mortgage assignments as part of a wider probe into faulty foreclosure methods, according to Geoff Greenwood, a spokesman for Iowa attorney general Tom Miller. Last month, a Massachusetts court ruled that two foreclosures by Wells Fargo & Co. and U.S. Bancorp were invalid because assignments presented in those cases failed to prove the chain of ownership of the mortgage, sending financial stocks down.

Connect the Dots

Bankruptcy judges are “appropriately skeptical” when mortgage servicers claim to have assignments, said Keith Lundin, a U.S. Bankruptcy Court judge in Nashville, Tennessee, in an interview.

“They’ve got to show me more than their swearing that they have the right,” he said. “They’re going to have to connect up the dots back to the note and the security agreement, which would be the mortgage.”

Harold Lewis, an executive with the CitiMortgage subsidiary, told Congress in November that the bank reorganized foreclosure operations last February, helping it avoid the faulty affidavit-signing practices that forced peers such as JPMorgan Chase & Co. to temporarily halt home seizures last year.

Citigroup paid almost $82,000 in opponents’ legal costs when settling challenges to four bankruptcy claims that used Orion letters in 2010, according to agreements filed with federal bankruptcy courts in New York and Arkansas. The bank reduced interest rates on the remaining debt by an average of 49 percent, while cutting the outstanding mortgage balance in three cases by a combined $55,000, the filings show.

Raising Questions

“It doesn’t strike me as something that lenders do every day of the week,” said Melissa Jacoby, a bankruptcy law professor at the University of North Carolina in Chapel Hill, referring to the size of the concessions. “It does raise some questions about the practices.”

A spokesman for Citigroup, Mark Rodgers, said it doesn’t comment on individual cases. The company continues to use Orion for assignment letters, he said. While borrowers have disputed the bank’s use of assignments, they haven’t accused Orion of wrongdoing.

“We don’t create fraudulent documents,” said Orion Chief Executive Officer Mike Wileman. His firm’s documents show which company may hold the note and can be based on information from the bank, he said. “Sometimes the evidence is circumstantial,” he wrote in an e-mail.

Court Records

Rodgers declined to say how often the bank relies on Orion or other outside document providers for assignments. Records aren’t electronically searchable in most of the more than 3,000 counties across the U.S. In Texas’s Dallas County, where documents are available online, Orion prepared at least 14 assignments transferring mortgages to Citigroup since the start of 2009, a search of records there shows.

In the Wappingers Falls case, Citigroup said it was owed about $390,000 from a mortgage on a property in Chapter 13 bankruptcy. The bank filed an assignment prepared by Orion to back the claim. This document claimed another lender had assigned the loan to CitiMortgage on June 24, more than three weeks after the bankruptcy began.

In settling the borrower’s objections, the bank didn’t admit wrongdoing. It paid Tirelli’s $35,000 legal fees, reduced the mortgage principal by $29,000 and chopped the interest rate almost in half, to 3 percent.

“We reach settlements in cases for a variety of reasons, usually so both parties can avoid the expense of ongoing litigation,” Rodgers, the bank spokesman, said in an e-mail.

Massachusetts Ruling

In Massachusetts, the state Supreme Court upheld a voiding of two 2007 foreclosures carried out by San Francisco-based Wells Fargo and Minneapolis-based U.S. Bancorp because the companies hadn’t demonstrated that they held the mortgages at the time of the seizures. The banks had backed claims with so- called blank assignments completed after foreclosure sales.

A lender such as Citigroup may settle to avoid scrutiny of its foreclosure practices during litigation, said April Charney, a senior attorney with Jacksonville Area Legal Aid in Jacksonville, Florida, who instructs lawyers on representing consumers in foreclosure and bankruptcy cases.

“They’re afraid of going through the process,” she said. A risk-based analysis may focus on the question, “Do I risk going in front of the judge and getting an order that is going to beam around the whole world?” she said.

Orion is based in Southlake, Texas, a city about 30 miles northwest of Dallas. It provides “mortgage assignment, lien release and document retrieval services” to the mortgage industry, according to its website. Citigroup also uses Orion for assignments in foreclosures, Rodgers said.

Initial Loss

Citigroup is still facing claims tied to an Orion-prepared assignment in a case at U.S. Bankruptcy Court in Aberdeen, Mississippi. In that case, the judge disallowed the bank’s initial claim to a property in Olive Branch, a city about 20 miles south of Memphis, Tennessee. The borrower later asked the court to force the bank to prove whether it has rights to the loan. Citigroup filed a response last month, fighting the borrowers’ demands.

“We’re going to have to go into litigation to determine who if anyone is owed the money and who if anyone still has a security interest,” said William Fava, the borrower’s attorney.

Citigroup has also filed Orion assignments in bankruptcy cases in states including Maryland and Georgia.

“Do they really have the right to enforce anything in this bankruptcy?” said Ryan Starks, an attorney for borrowers in Georgia, in an interview. “Or are they just clearing up the paperwork?”

Mortgage Business

Citigroup serviced $602 billion of mortgages in the fourth quarter of 2010 and is the fourth-largest mortgage servicer in the country, according to Inside Mortgage Finance, a trade publication.

Lewis at CitiMortgage testified to Congress in November about the bank’s overhaul of foreclosure practices. The company was still reviewing 10,000 affidavits that were executed before the overhaul, and about 4,000 affidavits may not have been signed before a notary and may be resubmitted, he said.

Citigroup doesn’t anticipate refiling any assignments, and hasn’t had to refile any prepared by Orion, said Rodgers, the spokesman.

To contact the reporters on this story: Donal Griffin in New York at dgriffin10@bloomberg.net; Dakin Campbell in San Francisco at dcampbell27@bloomberg.net

To contact the editor responsible for this story: Rick Green at rgreen18@bloomberg.net

Massachusetts Supreme Court case discussion. What does it mean for Texas?

admin — Mon, 17 Jan 2011 20:32:07 +0000

The foreclosure defense advocates have been having a field day discussing the outcome and applicability of issues from the recent Massachusetts Supreme Court decision. Today’s guest post is from George W. Gore the founder and lead attorney for The Gore Law Firm.

In this post he gives a quick overview of the case and the impact that it might have here in Texas. George points out the ways in which Massachusetts law differs from Texas law and thus how a case like this is or is not applicable to Texas homeowners.

In my opinion, it isn’t a silver bullet for Texas homeowners BUT it shows the banks get careless and don’t believe they need to follow the rules (or laws) as everyone else is expected to.

But what George doesn’t mention (because he is too humble) is that his firm has filed 100+ lawsuits versus mortgage banks just in the local Houston area and they are consistently beating the banks and winning EXCELLENT resolutions for homeowners.

- The Bank Slayer

FROM: George Gore

All,

Sadly, it does not help us in Texas nearly as much as the folks in Massachusetts. However, it does indicate a willingness to actually ding the lenders for ignoring the formalities.

Main holding:

Quote: The judge did not err in concluding that the securitization documents submitted by the plaintiffs failed to demonstrate that they were the holders of the Ibanez and LaRace mortgages, respectively, at the time of the publication of the notices and the sales.

GORE: In other words, they submitted paperwork showing that someone else owned it at the time of the foreclosure so the notices were all incorrect and therefore it is improper (with any quality control, they will catch this and re-foreclose next time before filing the paperwork).

Secondary Points:

1) Quote: We have long held that a conveyance of real property, such as a mortgage, that does not name the assignee conveys nothing and is void; we do not regard an assignment of land in blank as giving legal title in land to the bearer of the assignment.

GORE: Not applicable to Texas. Texas uses notes and deeds of trust. Notes can be in blank and not recorded. Deeds of trust do not have to be recorded (except to save priority and establish constructive notice of the lien).

2) Quote: Second, the plaintiffs contend that, because they held the mortgage note, they had a sufficient financial interest in the mortgage to allow them to foreclose. In Massachusetts, where a note has been assigned but there is no written assignment of the mortgage underlying the note, the assignment of the note does not carry with it the assignment of the mortgage. Barnes v. Boardman, 149 Mass. 106, 114 (1889). Rather, the holder of the mortgage holds the mortgage in trust for the purchaser of the note, who has an equitable right to obtain an assignment of the mortgage, which may be accomplished by filing an action in court and obtaining an equitable order of assignment. Id. (“In some jurisdictions it is held that the mere transfer of the debt, without any assignment or even mention of the mortgage, carries the mortgage with it, so as to enable the assignee to assert his title in an action at law…. This doctrine has not prevailed in Massachusetts, and the tendency of the decisions here has been, that in such cases the mortgagee would hold the legal title in trust for the purchaser of the debt, and that the latter might obtain a conveyance by a bill in equity“). See Young v. Miller, Gray 152, 154 (1856).

In the absence of a valid written assignment of a mortgage or a court order of assignment, the mortgage holder remains unchanged. This common-law principle was later incorporated in the statute enacted in 1912 establishing the statutory power of sale, which grants such a power to “the mortgagee or his executors, administrators, successors or assigns,” but not to a party that is the equitable beneficiary of a mortgage held by another. G.L. c. 183, § 21, inserted bySt.1912, c. 502, § 6.

GORE: THIS WOULD HAVE BEEN A KEY POINT: But, sadly, as wording indicated, Massachusetts is on its own here. Texas does not have the same “does not follow” rule. In Texas, it is well established that the deed of trust (or lien) follows the Note.

3) Quote: A valid assignment of a mortgage gives the holder of that mortgage the statutory power to sell after a default regardless whether the assignment has been recorded. See G.L.c. 183, § 21;Mac Farlane v. Thompson, 241 Mass. 486, 489(1922). Where the earlier assignment is not in recordable form or bears some defect, a written assignment executed after foreclosure that confirms the earlier assignment may be properly recorded. See Bon v. Graves, 216 Mass. 440, 444-445 (1914).

A confirmatory assignment, however, cannot confirm an assignment that was not validly made earlier or backdate an assignment being made for the first time. See Scaplen v.Blanchard,187 Mass. 73, 76 (1904) (confirmatory deed “creates no title” but “takes the place of the original deed, and is evidence of the making of the former conveyance as of the time when it was made”). Where there is no prior valid assignment, a subsequent assignment by the mortgage holder to the note holder is not a confirmatory assignment because there is no earlier written assignment to confirm. In this case, based on the record before the judge, the plaintiffs failed to prove that they obtained valid written assignments of the Ibanez and LaRace mortgages before their foreclosures, so the post foreclosure assignments were not confirmatory of earlier valid assignments.

GORE: This is one point that we look for here in Texas. The party doing the foreclosure has to be able be the party of record (or servicer for that party). Typically, the foreclosure mills have done a good job on this issue of making sure the deed of trust is transferred to the foreclosing party before bringing the foreclosure action (seems to be triggered by the borrower’s default).

The one possible exception that has been noted is when they have brought the foreclosures in the name of MERS (the nominee on many deed of trusts). Typically, they simply transfer the deed of trust to the foreclosing party by signing as a MERS officer on behalf of previous lender to avoid MERS being the actual foreclosing party. Whether or not this gets them in the clear is a debatable matter but at this point, these transfers have been accepted as proper by Texas courts and the fact that few homeowners are willing or able to fight this allows the banks to continue to use this strategy.

GORE: So, the main holding is nice and we might get a chance to use it if the foreclosure mill or bank really messes up (although it is hard to mess this up because their accounting seems to be triggered by the supposed note holder) or we come up with a new theory (we try every day). Point one is inapplicable in Texas and point two, the biggest issue, is not one we can use either.

- George W. Gore

Holiday Foreclosure Freeze? No, not for Texas.

admin — Mon, 13 Dec 2010 13:39:08 +0000

Although Fannie Mae, Freddie Mac and several other large lenders are claiming a Holiday Gift with their self imposed foreclosure freeze sadly it won’t help Texans one single bit!

This “gift” is nothing more than a shameless attempt at improving their poor public image.

Why won’t it help Texans?

Because although they will suspend foreclosures for the holiday season, roughly from Dec. 20 to Jan. 3, the next foreclosure sale date is January 4!!!!!!

For those outside of the Texas area, Bank of America, JPMorgan Chase & Wells Fargo will offer this “respite” for loans held directly and loans for which it has servicing authority.

But it will not apply to vacant properties and or loans serviced for other investors that may not be not participating in the overall freeze.

- The Bank Slayer

Tips for Success with Bank of America’s Equator system

admin — Mon, 06 Dec 2010 13:45:24 +0000

Part 2 – Equator Tips for Success

If you want to be successful in short sales that require Equator make sure to employ these Tips and Traps. Part 1 can be read here

The following Equator tips and traps come from Dan Welch. Dan Welch is the lead short sale negotiator for Home Solution Counselors and a bring ‘em on and “your next” closer.

Bank # next

Dan saw the light and fled from the darkside (he used to work inside the bank – working against homeowners). He now spends the better part of 40 hours a week with a wireless headset, three phone lines and a Batphone Hotline into The Gore Law Firm as he routinely hammers banks into accepting and approving short sales.

We asked Dan to provide us with a game plan for success with Equator. Most agents know that Bank of America‘s short sale tool can cause a real estate agent to lose control of the short sale process.

Know your time frames: The servicer and the agent both have time frames on ALL tasks assigned in Equator. Call every week, ask the servicer what the next task due for the negotiator is and ask when that task expires. If it’s beyond that deadline, bust some balls. Don’t let up. They promised they would meet a deadline!
Read the manual: When you initiate a short sale with BAC, they send you a user’s manual for Equator. Read it! Knowledge is power and power is good.
Stay on top of your tasks: When a task is due on 11/14, you better make sure to add a note to your calendar. When that task dies, so does your deal. How long have you been working on this file? 6 weeks, 3 months, a year? And it was declined and closed by those haters at the bank and now you have to start over!!?? YOU (agents, or 3rd party negotiators) are responsible for completing the assigned tasks by their deadline. Helpful hint: Get your borrower’s paperwork and required docs together BEFORE they’re requested and keep updated bank statements and paystubs. Being prepared; I know it’s a novel concept.
It ain’t over till it’s funded! : Just because you get a counter acceptance, doesn’t necessarily mean you’re getting it approved. Did you forget about mortgage insurance? Don’t understand how MI works. Read this article HERE. This stuff can cause an extra delay of 2 weeks or MORE – after the initial SP acceptance. So, wait to tell your seller that the deal will work until AFTER you find out what the MI company wants. To be safe, wait until you have a demand payoff letter, in hand, from the servicer – and the numbers actually work.
Keep impeccable notes, take screenshots & record ALL calls: When your negotiator who’s working too many files drops the ball on yours; you need proof and evidence to show their supervisor or one of the upstanding gents at “TGLF”. Nothing better than replaying their own words from a recorded call or displaying a screenshot. If necessary bring a lawsuit with this evidence. They’ll turn tail and run and you’ll get what you want.

Final thought: Equator and the industry in general are changing at a break-neck pace. These tips may be pertinent today and mean little tomorrow. It’s an ever-evolving business and it’s important to stay on top of the facts and evolve with the industry. Most of us, who are still in this crazy industry and plan on eating tonight, have had to adapt greatly over the past several years. Equator is new, but it’s not scary – just frustrating. Good luck and try to keep a cool head.

Traps to Avoid with Bank of America’s Equator system.

admin — Fri, 03 Dec 2010 15:59:37 +0000

Part 1 – Equator Traps to Avoid.

If you want to be successful in short sales that require Equator make sure to employ these Tips and Traps.

The following Equator tips and traps come from Dan Welch. Dan Welch is the lead short sale negotiator for Home Solution Counselors. Dan saw the light and fled from the darkside (he used to work inside the bank – working against homeowners). He now spends the better part of 40 hours a week with a wireless headset, three phone lines and a Batphone Hotline into The Gore Law Firm as he routinely hammers banks into accepting and approving short sales.

Since the Houston area’s Houston Association of Realtors’ MLS reports that over 73% of all listed short sales never close, with most being lost to Texas’s rapid foreclosure process, we wanted to know why Dan is getting 93% of all short sales approved and closed.

Here are Dan’s Traps to Avoid. Monday I’ll post Dan’s Tips.

NEVER trust their counter(s): If you receive a counter in Equator, take a screenshot before you do anything else. When you accept or counter back the “counter worksheet” usually disappears for good. BAC is known for countering the offer with “A” and then reneging on it and countering again with “B”. SECRET TIP : A = typically a value close to the current offer which represents ACTUAL property value. B = the price your buyer won’t pay, even in a good economy. My view is if they don’t honor counter “A”, even if they knock a couple grand off their minimum net to make good on it, you’re closer to getting them what they need to get the deal approved by management or investor.
NEVER agree to a prom note or cash contribution: I stopped agreeing to prom notes and cash contributions when I was asked by BAC to “please have your seller sign a promissory note to cover some of (GENERIC INVESTOR)’s losses.” – NO! The borrower isn’t responsible for an investor’s risky investment decision gone sour. They can either agree to a short sale or lose money on the deal in foreclosure. This should be your attitude.
Email everything through Equator: You’ll almost NEVER get a call from the servicer after making a request through Equator. Most of these agents are overworked. Sometimes carrying a workload of up to 375 files. It’s all they can do to keep up. Equator’s email messaging system is great for tracking a deal and the conversation. Also, no more hearing “I never got the message”, because you, your client, the bank’s negotiator and their supervisor can see the proof in black and white in the Equator message archive.
Dispute their value: The bank won’t disclose this…. but, sometimes they skew the BPO or appraisal results to meet their own needs!! So, call them out on it. If you’re a competent agent, you should have completed a CMA or at least run comps to make a good assumption as to property value. If the bank gives you a ridiculous number, tell them how ridiculous it is and submit comps, CMA, repair estimate or WHATEVER you have to devalue the property. I think since so much of the new process differs from the traditional short sale process, that agents or negotiators tend to forget they have the right to dispute the bank’s alleged property value. It doesn’t always work, but it’s better than rolling over and taking it! Remember, if enough of you “roll over and take it”, the bank and their investors make new policies or guidelines to make it harder for you and the rest of us to stand up and fight. So, for the sake of us all, FIGHT!
Don’t give in. Sue them if needed: Many times the negotiator on the other side is powerless or plain incompetent. If things go south or your file is facing foreclosure you CANNOT trust that simply because the file is in review in Equator or you have accepted an offer in Equator that they won’t foreclose. Get an attorney that you can trust. Get an attorney that has successfully filed lawsuits and WON against Bank of America. You can look this up yourself in the Federal or District Court level in your area. See if they have open AND closed lawsuits against Bank of America or whatever bank you are fighting. Lawsuits will allow you to remove Equator’s power and will cause the bank to assign special staff to handle the lawsuit. If necessary get a TRO or restraining order against the bank for negligence. (This is where that screenshot you took might come in handy).

Foreclosure hold is a lie…

admin — Thu, 04 Nov 2010 12:32:29 +0000

Although many of the large banks claimed to have foreclosures on hold while they review their procedures it appears they didn’t “hold” back much in the Greater Houston Area.

While the number of foreclosed property is slightly lower than previous months it not what I would call a HOLD. More like a slow down.

Did I mention that some of the foreclosures were by Bank of America?!?

Harris County shows 786 foreclosed in November vs 1,246 foreclosed in October.

Fort Bend County shows 114 foreclosed in November vs 170 foreclosed in October.

Montgomery County shows 108 foreclosed in November vs 138 foreclosed in October.

Bottom Line: Don’t trust the bank unless you have it in writing and then still watch your back (and the small print).

- The Bank Slayer

*data from Foreclosure Information & Listing Service, Inc.

November 2 Foreclosure Sale Date. 5,463 set to go?

admin — Mon, 01 Nov 2010 20:00:51 +0000

Although some of the largest mortgage banks (servicers of mortgages) such as Bank of America, Wells Fargo, Chase and GMAC have announced in varying releases that they are halting foreclosures while they review their procedures, they haven’t stopped posting and prepping to auction off over 5,000 homes in the Greater Houston Area.

How many folks are posted for sale tomorrow? Yes, tomorrow – November 2, 2010.

Harris : 3,857

Brazoria: 251

Ft Bend: 675

Galveston: 279

Montgomery: 400

Total: 5,462

How many will go tomorrow? Good question. On average about 20-25% actually go to sale. The best commitment most get out of the foreclosure attorneys is “that file is on HOLD.”

On Hold huh? Like I’m holding this piece of paper…wait, not any more. I just let it go.

Pulling the sale or postponing the sale is what we want to hear. On Hold? Does this mean I need to call back tomorrow and check again?

Whether you are a homeowner facing foreclosure or a concerned REALTOR assisting a family in a tough situation don’t just assume that the “On Hold” means the foreclosure is postponed. Maybe you’ll still be on hold, maybe you won’t when the clock strikes 10:00AM on Tuesday.

If every mortgage was “on hold” then why did a couple of our homeowner clients need to secure a Temporary Restraining Order last Friday…Hmmmm.

- The Bank Slayer

Bank of America is ready to resume foreclosures.

admin — Tue, 19 Oct 2010 12:26:35 +0000

The Wall Street Journal is reporting that BofA is ready to crank up the foreclosure machine once again.

Amazing what can be done when Bank of America might take a financial hit.

BofA can’t seem to locate the submitted paperwork for a loan modification (or short sale) at least 30% of the the time. Their vaunted Equator system can take weeks to deliver a written approval for a short sale once “approved”; but yet they now can process and replace over 100,000 affidavits and assignments of mortgages in just two weeks!!

Wow, they must have hired some new robo-signers we haven’t met yet.

Why? Because it takes time to read through your own affidavit, much less an entire Application for Foreclosure.

The average “application for foreclosure” in Texas is 40+ pages. They must have somehow found a ton of people with live, actual, personal knowledge of the proof of ownership and the exact amount owed on each of these 102,000 loans they are “fixing”.

Now here is the scary thing…follow me here:

At only 15 seconds a page, it would take at least 10 minutes to read each application. Remember the person is swearing they know everything is accurate and PERFECT.

10 minutes x 102,000 loans = 1,020,000 minutes. Assuming they have 100 people working on this, that now equates to 10,200 minutes per person or 170 hours. At 40 hours a week that would take over a month if they worked non-stop.

So how can they be ready in two weeks? Maybe they found 1,000 people with “knowledge” and thus it can be done more quickly.

When they finish this task maybe they can put these industrious workers on loan modification and short sale reviews.

- The Bank Slayer

Bank of America’s foreclosure halt hurts many

admin — Tue, 12 Oct 2010 13:01:26 +0000

The fact that Bank of America has claimed to halt foreclosures in all 50 states is significant. It is likely only a matter of time until the other big banks capitulate and offer some type of foreclosure freeze as well.

What will be the outcome? It remains to be seen but for now there are several industries that are grinding to a halt: title companies, Realtors, buyers of foreclosed homes, and the banks trying to unload foreclosures are experiencing either a slow down or a complete stop. Not to mention the bond holders of mortgage backed securities. Try selling them now. I’m no financial guru but I wouldn’t bid much for something that has good cash flow now but what is actually owned and therefore retrievable later is up in the air.

Who are the largest banks involved in this mess? Reauters provided this list.

Watch for these sly foxes to start selling off loans and the servicing of loans that are in default to the smaller guys who don’t show up on the government or media’s radar.

- The Bank Slayer – see what other REALTORS have to say about us.

FAQ on Texas AG Demand Letter to Mortgage Servicers to Halt Foreclosure Activity

admin — Wed, 06 Oct 2010 21:40:03 +0000

The following FAQ is a reprint of the FAQ provided to Texas Realtors and on the affect to various types of foreclosure related transactions such as REO sale, Short Sales, Evictions and Foreclosures.

>>>>> TAR – FAQForeclosureMoratorium100610

Much of this remains to be seen but it is worth reading and noting possible issues that may arise.

- The Bank Slayer