Comments on: How to Beat the Banks at Their Own Game – A Strategy Straight out of the Tax Shelter Playbook https://4closurefraud.org/2010/01/24/how-to-beat-the-banks-at-their-own-game-a-strategy-straight-out-of-the-tax-shelter-playbook/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Fri, 28 Nov 2025 15:09:27 +0000 hourly 1 https://wordpress.org/?v=7.0 By: frontncenter https://4closurefraud.org/2010/01/24/how-to-beat-the-banks-at-their-own-game-a-strategy-straight-out-of-the-tax-shelter-playbook/#comment-696847 Tue, 27 Dec 2016 20:33:23 +0000 https://4closurefraud.org/?p=1340#comment-696847 If it “does” work then you might as well say “it did” work. Cause these days there’s a tendency among lawmakers to shut down roads that lead to level playing fields.

]]> By: Zen Being https://4closurefraud.org/2010/01/24/how-to-beat-the-banks-at-their-own-game-a-strategy-straight-out-of-the-tax-shelter-playbook/#comment-651702 Sat, 19 Mar 2016 19:11:27 +0000 https://4closurefraud.org/?p=1340#comment-651702 In reply to Keith.

Hi Keith,
I am also late to this but would love to know the ending of this story to help other people in California. Did this work for you?

]]> By: mike https://4closurefraud.org/2010/01/24/how-to-beat-the-banks-at-their-own-game-a-strategy-straight-out-of-the-tax-shelter-playbook/#comment-436448 Fri, 11 Apr 2014 15:55:21 +0000 https://4closurefraud.org/?p=1340#comment-436448 In reply to Keith.

I know I’m a little late to this and I hate to resurrect an old thread, but I have to ask, how did this turn out for you? Did the strategy work?

]]> By: rebelwithaclause https://4closurefraud.org/2010/01/24/how-to-beat-the-banks-at-their-own-game-a-strategy-straight-out-of-the-tax-shelter-playbook/#comment-57851 Sat, 13 Aug 2011 05:05:12 +0000 https://4closurefraud.org/?p=1340#comment-57851 I think it is so incredibly GENUIS, I love it, RUB IT IN THEIR FACE, now these are the type of people that could balance a budget.

]]> By: powerplay17 https://4closurefraud.org/2010/01/24/how-to-beat-the-banks-at-their-own-game-a-strategy-straight-out-of-the-tax-shelter-playbook/#comment-2664 Mon, 14 Jun 2010 22:04:23 +0000 https://4closurefraud.org/?p=1340#comment-2664 My only question to this process is determining if a “lis pendens” constutes a “notice of foreclosure to occupy the premises” as stated in the May 20, 2009 law, or is a lis pendens just a notice of pending foreclosure litigation?
powerplay 17

]]> By: Keith https://4closurefraud.org/2010/01/24/how-to-beat-the-banks-at-their-own-game-a-strategy-straight-out-of-the-tax-shelter-playbook/#comment-1177 Sat, 10 Apr 2010 15:47:00 +0000 https://4closurefraud.org/?p=1340#comment-1177 “How to Beat the Banks at Their Own Game – A Strategy Straight out of the Tax Shelter Playbook”

I HAVE DONE EXACTLY THAT, executed a 15 year lease, recorded it and I am waiting to see the results. I am in California.

What gets me is why is there no one else talking about it if it is so effective? I have researched the law and as for as I can tell, the law is on my side, black letter law, and civil code. It is even mentioned in Obama’s “Helping Families Save Their Homes Act of 2009’’.

I would like to hear from anyone who has had success with this defense. I am three months behind on my mortgage but no foreclosure yet so it has not been adjudicated yet.

If you google the topic you will find countless articles by attorneys that support the defense.

I did hire an attorney to help me with the documents but I have to say that I knew more than he did; I had to supply all the meat as he did not know squat about this. He did know how to draft a valid bonafide lease but short of that he was useless to me. Never the less, I got it done and it is as tight as a virgin as for as I can tell.

I kind of think that one reason no one is talking this up is that it is so simple in reality. Because of that, I guess people think it won’t work and because it does not cost too much…well people think it has no value. I am just guessing as to why we have not heard more about it yet or more promotion of it. Neil did a good job of posting it but it seems no one has mentioned it any more. I may be the one of the first few guienna pigs. I long for the day to share my success with the world.

Regards,

Maverick

‘‘Helping Families Save Their Homes Act of 2009’’
http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:s896enr.txt.pdf

read
TITLE VII—PROTECTING TENANTS AT
FORECLOSURE ACT page 29 through 30
SEC. 702. EFFECT OF FORECLOSURE ON PREEXISTING TENANCY.
(a) I
N GENERAL.—In the case of any foreclosure on a federallyrelated
mortgage loan or on any dwelling or residential real property
S. 896—30
after the date of enactment of this title, any immediate successor
in interest in such property pursuant to the foreclosure shall assume
such interest subject to—
(1) the provision, by such successor in interest of a notice
to vacate to any bona fide tenant at least 90 days before
the effective date of such notice; and
(2) the rights of any bona fide tenant, as of the date
of such notice of foreclosure—
(A) under any bona fide lease entered into before the
notice of foreclosure to occupy the premises until the end
of the remaining term of the lease, except that a successor
in interest may terminate a lease effective on the date
of sale of the unit to a purchaser who will occupy the
unit as a primary residence, subject to the receipt by the
tenant of the 90 day notice under paragraph (1); or
(B) without a lease or with a lease terminable at will
under State law, subject to the receipt by the tenant of
the 90 day notice under subsection (1),
except that nothing under this section shall affect the requirements
for termination of any Federal- or State-subsidized tenancy
or of any State or local law that provides longer time
periods or other additional protections for tenants.
(b) B
ONA FIDE LEASE OR TENANCY.—For purposes of this section,
a lease or tenancy shall be considered bona fide only if—
(1) the mortgagor or the child, spouse, or parent of the
mortgagor under the contract is not the tenant;
(2) the lease or tenancy was the result of an arms-length
transaction; and
(3) the lease or tenancy requires the receipt of rent that
is not substantially less than fair market rent for the property
or the unit’s rent is reduced or subsidized due to a Federal,
State, or local subsidy.
(c) D
EFINITION.—For purposes of this section, the term ‘‘federally-
related mortgage loan’’ has the same meaning as in section
3 of the Real Estate Settlement Procedures Act of 1974 (12 U.S.C.
2602).

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