Fraudclosure: Still Too Big to Jail, When Our Military They Fail? Part 1
“Our nation owes a debt to its fallen heroes that we can never fully repay, but we can honor their sacrifice.”
🙁 Happy Memorial Day America 🙁
On or about March 13, 2009, Mr. Julian Garvin, a client of The Law Offices of Evan M. Rosen, was called to active duty by the United States Army for one year, to begin on March 22, 2009. On March 26, 2009, he informed his mortgage servicer, JPMorgan Chase Bank, N.A., that he had been called to serve our country. Mr. Garvin provided a copy of his deployment order and asked them to reduce his interest rate, as required by federal law. No such adjustments were made. While on active duty, and for 11 months after his return, Mr. Garvin continued to make his full monthly payments. Then, at the peak of the crisis, he was unable to continue to pay.
On November 14, 2012, ALS-RVC, LLC, the entity claiming the right to foreclose, filed suit. The case went to trial and was involuntary dismissed, in part, because of ALS-RVC’s failure to adjust the interest rate as required by the Servicemember Civil Relief Act (SCRA). 50 U.S.C.A §3937. In other words, ALS-RVC lost the case.
ALS-RVC then appeals.
In their Initial brief they concede the SCRA “applies to this situation, and [Mr. Garvin’s] loan payments should have been credited with a reduced interest rate during his active duty…” They also concede that “Subsection (e) of 527 is entitled ‘Penalty’ and reads, ‘Whoever knowingly violates subsection (a) shall be fined as provided in title 18, United States Code, imprisoned for not more than one year, or both.’ 50 U.S.C.A § 3937(e).” Yet, rather than trying to make amends for their admitted, jailable offense committed against a member of the United States Army, the bank and their lawyers appeal.
In the 80s, we were introduced to the phrase “trickle down economics.” From what we see in this and so many other foreclosure cases, the only thing trickling down from Wall Street is fraud, greed, arrogance and a complete disregard for the rule of law.
We will continue to keep readers updated on this situation while we do our best to keep this United States Veteran in his home.
The answer brief to ALS-RVC’s appeal can be read here: 2016-03-30 – Answer Brief