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WELLS FARGO CREATES FRAUDULENT MORTGAGE, FRAUDULENT FORECLOSURE, AND FRAUDULENT NEGATIVE CREDIT INFORMATION

July 29, 2008

In the course of defending numerous foreclosure actions around the United States, we have come across some fairly horrendous fact patterns, but to date, that described here (a true story, by the way) is unprecedented.
The victim is a single young woman in Michigan who was looking to purchase a home. After viewing several properties, she [...]

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DO YOU KNOW HOW MUCH YOU REALLY OWE ON YOUR MORTGAGE LOAN?

July 23, 2008

This is a question that anyone who has a mortgage should be asking, notwithstanding what the “bank” or “loan servicing company” claims that you owe on your monthly statement or, if you are in foreclosure, what is being claimed as owed. The truth may surprise you.
A “mortgage loan” actually has two components: the Promissory Note [...]

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AFFIRMATIVE DEFENSES TO FORECLOSING PARTY’S CLAIM OF “LOST NOTE”

July 23, 2008

A common thread which is emerging in foreclosure cases is the claim of the plaintiff (a/k/a the “foreclosing party”) that they have “lost the note and/or mortgage”. In such a case, the foreclosing party may file a Affidavit as to the lost note and mortgage in a purported attempt to cure the material defect of [...]

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OHIO STATE COURT CANCELS FORECLOSURE SALE AND STAYS FORECLOSURE CASE FILED BY TRUSTEE FOR BEAR STEARNS ASSET-BACKED SECURITIES ON FILING OF FEDERAL ACTION AGAINST BEAR STEARNS AND ITS BROKERS AND OTHERS FOR VIOLATIONS OF FEDERAL TRUTH-IN-LENDING ACT, FEDERAL REAL ESTATE SETTLEMENT PROCEDURES ACT, CONSUMER PROTECTION STATUTE, CIVIL RICO, FRAUD, AND OTHER RELIEF

July 23, 2008

In another historic victory for borrower victims of predatory loan practices, the Court of Common Pleas of Mahoning County, Ohio has entered an Order today canceling a foreclosure sale set for June 24, 2008 and staying same pending the outcome of the borrower’s Federal lawsuit which has been filed against Bear Stearns Residential Mortgage Corporation, [...]

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“Failure to Add Indispensible” Parties: Why Not Raising This Defense in Your Client’s Mortgage Foreclosure Case May be a Ticket to a Legal Malpractice Claim

July 22, 2008

This article is intended for attorneys who choose to defend a mortgage foreclosure action. As has been repeatedly published in this blog, in the great majority of instances we have seen, the Plaintiff in the foreclosure action is something along the lines of “ABC Bank as Indenture Trustee for the Registered Holders of XYZ Asset-Backed [...]

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Preliminary Inquires Preceeding Foreclusure: A Small Investment in the Proper Letter May Open Many Doors and Avoid Nightmares Later

July 21, 2008

We have been receiving an increasing number of inquiries from foreclosure victims requesting our assistance in dealing with recalcitrant servicing companies who either ignore or send a “bluff response” to inquiry or demand letters sent by borrowers who are not attorneys. We have also received a literal deluge of telephone calls, e-mails, and faxes from [...]

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