NEWS FLASH | IBANEZ – BANKS LOSE PIVOTAL FORECLOSURE CASE IN MASSACH– USETTS HIGH COURT

THE DECISION IS IN.  UPDATES AS WE GET THEM…

Die Banker Die

Ibanez Case Supreme Court Rulling Jan 2011

4closureFraud.org

Comments
16 Responses to “NEWS FLASH | IBANEZ – BANKS LOSE PIVOTAL FORECLOSURE CASE IN MASSACH– USETTS HIGH COURT”
  1. Dawn says:

    I educated my County Recorder about MERS and securitized mortgages……………he filed a complaint with the Attorney General and the rest is history combined with the above cases http://www.salemdeeds.com/

  2. alec ross says:

    I forgot to add that Massachusetts law apparently is that the mortgae note does NOT automatically follow
    the note, and that the transferor must also sign an assignment of mortgage, in order to transfer the
    mortgage lien rights to the transferee. That is not a requirement in Florida. If you assign the note
    the mortgage lien automatically goes with it even if you don’t sign a document called assignment
    of mortgage.

  3. alec ross says:

    The court’s ruling won’t work in Florida. The appeals courts in Florida have held that the mortgage follows the note (or whoever has possession of it), with no need for an assignment of mortgage document being signed,
    and that endorsements in blank (where the name of the assignee not printed on the note) is okay.

    As for what will happen in Massachusetts, that court simply said a foreclosure can’t be filed unless the claimed holder has the note (or rights to it) at the time suit is filed. This is called “standing”. So….., while
    the original foreclosure can be setaside, the bank can start all over again if it gets possession of the
    original note BEFORE it does the foreclosure. This is same rule in Florida. The bank has to own or have
    possession of the note before it files the foreclosure suit.

  4. So far 2011 has been good…It just may be the domino’s are starting the great domino fall. Crime and lies sooner or later trip you..when you least expect it. I wonder if they still think they are so big they can’t fail. I would love to see them fall flat on their face…as millions of people stomp on them. I wonder if that is why OB put a Chase exec. in a top position? Another banker in Washington. I think OB is about the only one in the government who never was ‘ involved’ with the big cheeses of banking…or is he ?? Who really cares..they are all bed partners… rotten from the core up. But let’s keep the fight up…the end of the tunnel is getting closer. I can almost see some light.

  5. bert says:

    1 Woe to them that devise iniquity, and work evil upon their beds! when the morning is light, they practise it, because it is in the power of their hand.
    2 And they covet fields, and take them by violence; and houses, and take them away: so they oppress a man and his house, even a man and his heritage.
    3 Therefore thus saith the LORD; Behold, against this family do I devise an evil, from which ye shall not remove your necks; neither shall ye go haughtily: for this time is evil.

    BANKS BEWARE** THE ONLY KINGDOM SHALL STAND IS THE KINGDOM OF GOD. MICAH 2 V 1-3

  6. AverageCitizen says:

    We also sued (Deutsche Bank) in Ohio and won – result FORECLOSURE DISMISSED .

    Feel free to contact me if you need more information on how to fight these fraudsters.

    • OhioFighter says:

      I am currently trying to fight HSBC in Ohio. What advice do you have?

    • Sal Pignataro says:

      We would so love to have your assistance.

      We are considering suing Aurora Loans for how they handled our modification – it was all designed to stall us until they could foreclose. I even sent them a letter requesting they show me PROOF they have rights to our property – they just sent us a letter saying “they will get back to us”.

  7. l vent says:

    This is the only right and just verdict. This should have an impact of gigantic proportions in favor of the homeowner’s. Now is the time for a nationwide moratorium on all foreclosures. The fraud has been proven and ruled against in high court by a judge. The banks do not have the proper documentation (the notes) in which to foreclose on people’s homes. The people on the other hand have their original recorded paid off deeds from origination with no debt attached to the deed RE: UNSECURED MORTGAGE. They never recorded the notes they sold off with the mortgages or assigned the debt to the paid deeds. The banks and wall street screwed up badly and it is time for them to admit that our mortgage debt is now no more significant of a debt than and unsecured credit card debt. The banks should no longer be allowed to steal people’s homes.

    • yvonne says:

      Correction, I dont think they screwed up….they outdid themselves…their greed and plot to continue this facade backfired on them…they had every intentions to continue to use these unregistered notes to defraud more investors…

  8. internetasker says:

    Thanks once again for sharing these materials and he preceding comments as well. Feedback:

    1. An Observation also inviting feedback:

    The court’s reference to non-addressed issues is in regard to subsequent purchasers, including bank purchasers.

    But another huge issue also not apparently before the court is the lives and liberties of now ousted homeowners. Is there present hope for the unfairly homeless? Trickle-down or otherwise?

    2. Opinion Reference, retyped so might need checking again:

    “…not addressed in this opinion, because the issue was not before us, is the effect of the conduct of banks such as the plaintiffs here on a bona fide purchaser who may have relied on the foreclosure… “

  9. leapfrog says:

    I just can’t believe this. Someone pinch me. The banksters lose? Oh my, can’t have THAT happen. Judges who do the right thing? That’s unbelievable too.

  10. PJDJ01 says:

    I love this. I love this. And if this costs the economy, so be it. Banks have screwed us for too long.

    • DAN DAN says:

      Amigo, this economy doomsday scenerio isn’t even real! All lies to the American People. Did you ever see the Matrix? We are living in it. What you think is true really is not. If you think about it…Money is really paper that we have given value/authority to. If the dollar looses it value, how much will it be worth? Paper. Let that sink in for a while. Blessings!

  11. Amvona.com says:

    We expect the outcome in the not too distant future to be that a great many “loan servicing” companies will simply become, what they have been all along – unsecured debt collectors, not unlike those calling on defaulted credit card balances, but with no authority in law to foreclose.

    The Ibanez case is extraordinarily important, and we expect other states will look to the MA ruling for guidance in the future.

    Not sure what the cost is to fix thousands of wrongful foreclosures, but it’s probably safe to bet that buying financial stocks is not a very good idea right now.

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