Veteran’s Four Year Foreclosure Fiasco Finally Comes to an End – Ocwen Gives Back Stolen Title to Paid Off Home

Happy Memorial Day! Loan Servicer Sought Foreclosure Despite Proof Mortgage Was Paid GREENFIELD, Ind. — A woman who said she had no idea that her house had been put up for foreclosure even though the mortgage was paid off is relieved that a loan servicing company has backed off after years of struggle. After Marilyn … Read more

Deadbeat or Not? You Decide! Re: Lehman Brothers Holdings, Inc.

From the Hamlet Again, let’s revisit that “deadbeat borrower” stigma again. The pervasive yet hollow-toned propaganda aimed at diverting attention from the real perpetrators of the biggest scam in the history of the world by blaming the family whose scheming ways had them planning and executing the downfall of the global economy (and even worse, … Read more

The Market Ticker – And The Housing Fraud Continues

Posted by Karl Denninger From a report emailed to me over the weekend: At the core of the foreclosure-prevention strategy is ignoring delinquencies. The percentage of older delinquent loans not yet in foreclosure is startling: 60% have at least 12 missed payments, and 35% have at least 18 missed payments. Add to this that three-fourths … Read more

Understanding the Securitization Process and the Impact on Consumer Bankruptcy Cases

Random Repost Blast from the Past. Going to start off each day with a random repost from the archives… Securitization is a complex series of financial transactions designed to maximize cash flow and reduce risk for debt originators. This is achieved when assets, receivables or financial instruments are acquired, classified into pools, and offered as … Read more

Updated Video Page with Some Favorites

Will be updating this page with a lot more throughout the week… Stay Tuned… You can see all of the videos that have been put up so far below… 4closureFraud Tim Miller – “Love, Your Broken Home” **NEW SONG** ________________________________________________________________________________ Fighting Foreclosure Fraud ________________________________________________________________________________ Task Force Takes Down Homeowner with Guns Blazing ________________________________________________________________________________ Federal Reserve … Read more

Toxic Titles – Following a Loan into a Mortgage-Backed Security

Random Repost Blast from the Past. Going to start off each day with a random repost from the archives… The Problem of Foreclosure Titles Securitized by MERS Now, here’s a Power Point Presentation that should be shown to anyone who has a shred of doubt that these banksters are committing  fraud. It was put together … Read more

Now Here is a Bright Idea – ING to Introduce ‘Never Ending’ Mortgage

Source: National Mortgage News Homebuyers in Australia soon can choose what’s being called a “never-ending” mortgage in an attempt to overcome that nation’s affordability crisis. According to a report in The Sunday Telegraph, ING Direct, the nation’s fifth largest residential funder, will originate loans that have no fixed term and no requirement to repay any … Read more

Securitized Assets – Excellent Presentaton on Financial Management of Structured Products

Financial Management of Structured Products โดยสมาคมนักวิเคราะหห์หลักทรัพย ์ สมาคมตลาดตราสารหนี้ไทย และ สำานักบริหารหนี้สาธารณะ กระทรวงการคลัง Bangkok Convention Centre at CentralWorld 1. Introduction to Securitization 2. Introduction to CDOs 3. Credit Derivatives • Definition • Credit Default Swap: A Building Block of Synthetic CDO • ISDA Credit Derivatives Definition 4. CDO Structures • Balance Sheet CDO, STCDO, CDO^2, ABSCDO, Hybrid … Read more

Soldier in Iraq Loses Paid Off Home Over $800 Debt

MotherJones Capt. Michael Clauer’s homeowners’ association foreclosed on his family’s $300,000 house and sold it for $3,500. — By Nick Baumann Michael Clauer is a captain in the Army Reserve who commanded over 100 soldiers in Iraq. But while he was fighting for his country, a different kind of battle was brewing on the home … Read more

Teaching Better Fraud Methods? – An Assignment or a Formalization or a Memorialzation?

From: Lynn Szymoniak The standard language in most of the mortgage assignments being signed by employees of Lender Processing Services (most recently, Kathy Smith, Joseph Kaminsky) has changed in one significant respect. The effective date of the transfer from grantor to grantee is now not stated as a specific date. Instead, we have the following: … Read more

Ohio Attorney General vs AHMSI American Home Mortgage Servicing Inc

Random Repost Blast from the Past. Going to start off each day with a random repost from the archives… Ohio Attorney General Richard Cordray today filed a lawsuit against American Home Mortgage Servicing Inc. (AHMSI), a Texas-based company servicing more than 12,000 subprime and prime mortgage loans in Ohio. The lawsuit alleges numerous violations of … Read more

Full Deposition of Beth Cottrell Chase Home Finance – Robo-Signer Extraordinaire

Wow… She doesn’t know anything… She doesn’t even read ANYTHING! She does the assignments, the verifications of complaint “under penalty of perjury” and amounts due and owing! Just got it so wanted to share… Full analysis to come… WOW 4closureFraud Full Deposition of Beth Cottrell  Chase Home Finance – Robo-Signer Extraordinaire Part 1 Full Deposition … Read more

Hurry Up! Monthly Foreclosures Need to Double from April’s Record Pace to Clear the Distressed Pipeline – Lets Get Those Deadbeats OUT!

If you do not fight you WILL lose your home! Do not be ashamed of your situation and tell everyone you know about what is happening and join together with others. Challenge Everything or you will be one of the millions that will lose their homes due to the financial Ponzi schemes created by Wall … Read more

Another MERS Defeat In re SIMEON MORENO, Chapter 13, Debtor – Motion for Relief from the Automatic Stay Denied

First there was George Bailey We all know how that story goes… Then there was Judge Jennifer Bailey Florida Judge Wipes Out Homeowner’s $207,000 Mortgage! Now we have Frank J. Bailey, Bankruptcy Judge But we do have his most excellent memorandum… Discussion As the party seeking relief from stay to foreclose a mortgage on the debtor’s … Read more

“The MERS Mortgage Twilight Zone” Case Dismissed WITH Prejudice – Hon. Arthur M. Schack Slams HSBC Attorney Firm Steven J Baum, PC

WOW… This has to be his best work yet! Plaintiff’s renewed motion for an order of reference, for the premises located at 22 Jefferson Street, Brooklyn, New York (Block 3170, Lot 20, County of Kings), is denied with prejudice. The instant action is dismissed and the notice of pendency for the subject property is cancelled. … Read more

Corporate America Pays Price for Arrogance in Taking Family’s Home

Random Repost Blast from the Past. Going to start off each day with a random repost from the archives… Corporate America pays price for arrogance in taking family’s home John L. Smith A stone against a giant. David dropped Goliath with a well-placed rock. But in corporate America, the best most little guys can hope … Read more

BOA, aka Bank of America, Tries to Rape and Pillage a PAID IN FULL Home AGAIN!!!

I have had enough of this shit, haven’t you? Homeowner – “I Honestly Felt Like Bank of America was Trying to Steal my Property” Lets see, how many times have I posted about BOA and other “lenders”  “Trashing Out” <– Link, homes this year? Hmmm? Sorry, I ran out of fingers… Here is an extra … Read more

How the Homeowners Took Down the Entire Financial System – Anatomy of Risk Management Practices in the Mortgage Industry: Lessons for the Future – May 2010

Anatomy of Risk Management Practices in the Mortgage Industry: Lessons for the Future Clifford V. Rossi Robert H. Smith School of Business University of Maryland May 2010 Executive Summary Not since the Great Depression has there been a contraction in the U.S. housing market of such scale. With much attention given already to complex mortgage … Read more

Keith Sadler – Foreclosure Protesters Get 12 Months Probation

They call themselves the Stony Ridge seven. Today, they were all sentenced for their roles in fighting a foreclosure eviction earlier this month. Each said they were standing up for injustice, fighting on behalf of the little guy and against big banks. The judge disagreed. Jessica Angelov, Bryer Baumgartner, Nicholas Botek, John Kutsch, Daniel Orange, … Read more

Florida 5th DCA – More Heat for Rubber Stamping Judge for Denying Motions to Cancel Foreclosure Sales Over and Over and Over and Over

Funny how the banks cant even get their sales canceled… Ex-Volusia County Circuit Court Judge John V. Doyle is drawing renewed heat for issuing rubber-stamped denials over and over and over and over… Although this appeal is brought by the Plaintiff / Lender, it speaks to the issues of the procedure followed by the rubber-stamping … Read more