A good starting place would be a look at property blight and foreclosure conveyances to non-existent companies; bankruptcy “Lift Stay” motions that “lack standing,” “proof of claims” different from ‘lift stays’ “movers”; and illegal property deeds. Also, lawyer are wrong for injurious frauds, failing to “effect service” or failing at any substantive Civil Procedure requirement –NOT the homeowner for refusing to cooperate with erroneous and / or fraudulent home repossession.

And often foreclosure delays are because of foreclosure lawyers, but they keep that fact from clients. Lenders, (are not required to know laws) sometimes are unaware that lawyers’ mistakes, errors, and frauds provide reasons, defenses, and basis to attempt negotiating mortgage contracts.

Also, property owners seeking debt reorganization through Chapter 13 Bankruptcy are not to be blamed for contesting a false “proof of claim” or false “Lift Stay” motion. Thus, countless foreclosure lawyers owe $$$$$$ to their lender clients for fatally botching foreclosure cases.

LSU finance professor, Joseph Mason travels the country, inter alia, masking Louisiana’s foreclosure corruption and racketeering activities connected to judicial frauds, Wells Fargo, and Freddie Mac. (*Thank you Senator David Vitter!!!* )His statements make light of harm from lawyers’ fraudulent foreclosure activities. Mason is misinforming about the filing of fraudulent court documents. In disagreement with Mason the problem is NOT “overblown.” If the focus of people like Mason is on “quelling” fraudulent foreclosure filings and deliberate frauds instead of looking at critical facts and issues, then concealment is the preferred route.

But, glossing over things is not appropriate for people who have been tortiously harmed by extortion and fraud –here in Louisiana or any place else! Refusal to even consider what those actions are, and who are the actors, exacerbates rather than extinguishes casualty. Even worse, the culprits who are most responsible for damages remain intact to continue wreaking havoc.

Also, injurious acts by foreclosure lawyers, render them as well as their clients liable for damages. The half has not been told of outrageous, unfair collections, and privacy invasion associated with foreclosure! Lawyers know what they’ve done; they seek to have victims go away to avert exposure.
Mortgage default causes foreclosure, but default doesn’t justify fraud and victimizing defaulted borrowers.

*Important FACTS about FORECLOSURE and MORTGAGE FRAUD
http://www.lawgrace.org/2010/09/30/important-facts-about-foreclosure-and-mortgage-fraud/

*OPEN LETTER TO PRESIDENT OBAMA on Foreclosure Crisis (Wells Fargo)
http://www.pr-inside.com/open-letter-to-president-obama-on-foreclosure-crisis-r1505916.html

Too expensive and risky. Muni’s already in trouble because heavily invested in MBS’s and MBS derivatives and reliant on property taxes; layering this risk on is too much concentration of risk in property (arguably already way past that). Muni bond pricing would go through the roof. Also it’s another form of bailout; we have to stop subsidizing bad behavior by banks.

But I do think that you’re on to something, and that you’re right; can’t freeze the entire housing market.

there just might be a way to fix it so that sales of houses can resume with some degree of assurance that getting a clean title is possible.
My county is doing a tax sale right now and they take the responsibility to give Quit Claim deed with the following statement tacked on:

“Please Note
In accordance with the General Property Tax Act, Public Act 206 of 1893, as amended, MCL 211.1 TO 211.157, (“the Act”) the property offered for sale was foreclosed for unpaid delinquent real property taxes. Pursuant to the Act and by Judgment of the Wayne County Circuit Court, Case No.09-014685 PZ., redemption rights to the properties have expired and fee simple title to the properties has vested in the Wayne County Treasurer, in his capacity as the Foreclosing Governmental Unit in the County of Wayne, and all liens against the properties under Michigan law, except for future installments of special assessments and certain liens recorded by the State of Michigan, were cancelled. All existing recorded and unrecorded interests in these properties were extinguished, except visible or recorded easements or rights-of- way, private deed restrictions, or restrictions or other governmental interests in these properties imposed pursuant to the Natural Resources and Environmental Protection Act, Public Act 451 of 1994, as amended, MCL 324.101 to 324.90106. It is the responsibility of prospective purchasers to research the existence of any liens or encumbrances not cancelled by the Act or Judgment of the Court. Prospective purchasers are also responsible for examining the title, location and desirability of the property to their own satisfaction prior to the sale. ALL PROPERTY IS SOLD “AS IS”. The Wayne County Treasurer makes no guarantee, expressed or implied, relative to the title, location or condition of any property. Please Note: As the Foreclosing Governmental Unit, the Wayne County Treasurer now offers the property for sale to the highest bidder.”

Why can’t the states do the same thing or individual towns and cities?
SOMEBODY HAS TO TAKE ACTION TO CLEAR THE TITLES!
WHY NOT THE LOCAL GOVERNMENTS?

What do you think?

“About a month after Washington Mutual Bank made a multimillion-dollar mortgage loan on a mountain home near Santa Barbara, Calif., a crucial piece of paperwork disappeared.”

It affects a few more files than what you’ve represented … doesn’t it? Don’t remember the exact number you came up with but heard it was something like the low 100’s. Um….

Don’t worry – no need to answer. We’ll be happy to answer for you, with specific case numbers to boot; makes it easier to look them up so that you can go make the families thrown to the street whole.

Michael Olenick
olenick-at-legalprise.com