Foreclosure Defense Information “Payment History” is not the loan receivable account
by Neil Garfield
The payment history is not the loan receivable account by definition and it is never presented as such. Failure to recognize this obscure fact often results in failure. But those who do understand it, raise their chances of a successful defense from unlikely to very likely.
A lawyer (Scott Stafne) shared with me a case that he is apparently working on. This case is interesting because the lawyer for the homeowner has filed the final round of motions in the discovery cycle, which is a Motion in Limine — i.e., a motion to limit testimony from the sole robowitness expected to testify at trial. The basis of the motion is that the witness has no knowledge as to the past “servicers” and therefore cannot testify to any balance due.
But the courts have stretched themselves out on a limb to allow the foreclosure mills to introduce evidence that would never be permitted in any criminal trial and would only be permitted in civil trials if there was a proffer of corroborating evidence that would round out the obvious gaps in the testimony of the witness and the completeness of the exhibit.
BULLETIN: The payment history is not the loan receivable account by definition and it is never presented as such. The testimony in court nearly always skips the calculation of prior credits and debits (like disbursements to creditors) on the books of the servicer and the corresponding accounting entry on the books of a creditor. that is because there is no loan account receivable on the books of any party named as a creditor. And if it is not the loan account receivable, the Payment history is not evidence of the balance due as shown on the books of the creditor.
The lawyers who say they are representing Chase Bank probably have never spoken with or communicated with anyone at Chase. But they are right in their argument. The current rules concerning business records create a loophole that the banks have been charging through since the inception of false claims of securitization of debt (“Loans’).
What is interesting is that the case is now potentially set up to raise an objection, to wit: While the “witness” need not verify the records of previous parties regarding the “loan account”, it is the loan account that must be produced and not just a report on payments. The loan account would have a record of all credits and debits including disbursements to creditors if any. In the absence of a custodian testifying and proffering a copy of the loan account receivable — from the books and records of the creditor — (or the original accounting ledger) the balance cannot be known by the court.
Like virtually all transactions with homeowners, this case presents a “private label” case founded on the securitization of the “loan.” At this point, very little money exchanges hands in any transaction with homeowners because the applicants for loans are steered to a common securitization infrastructure. This leads to reports of funding without any money actually exchanging hands assuming there is a prior mortgage.
My point is this: the nature of securitization requires that the apparent loan account receivable be extinguished. This event generally occurs contemporaneously with the “closing” of the transaction.
The securitization plan calls for the sale of securities that are NOT tied to ownership of any debt, note or mortgage and are not backed by any debt, note or mortgage.
By freeing the sale of securities from the necessity of issuing securities representing shares of debts or pools of debt, the investment banks are able to sell multiple iterations of securities and secure a large yield spread premium that arbitrages the difference between the sales proceeds of securities and the transaction cost with homeowners, each time.
By steering homeowners toward a common base securitization infrastructure, the cash paid out at the “closing” with the homeowner is vastly reduced, thus increasing the amount of the yield spread premium to nearly 100% of the amount of the fictitious transaction with the homeowner.
The homeowners only know that the mortgage lien and note from one “transaction” were “satisfied.” They have no access to information that would inform them that each successive transaction creates a new tree of securitization representing nearly 100% profit for each successive round of sales of securities — this provides them with an average of 1200% return on each stated transaction with homeowners, wherein such transactions are repeated as many as 4-5 times.
None of these receipts are credited to any loan account receivable on the accounting ledger of any person or business entity. The credits do not appear because there is no record of a loan account receivable and nobody at any of the companies or entities brought forward in foreclosure has any access to such information.
Hence, the success of objections in court to the effect that the “Payment History” is not the loan account receivable that reveals the balance due, combined with the absence of any documents or person verifying that the company named as servicer is acting on behalf of a bank or business entity that claims to own the underlying obligation, frequently results in the objection sustained.
And even with a continuance, the lawyer for the claimant cannot produce the loan account receivable because it does not exist. Accordingly, the lawyer cannot argue any actual or imminent financial damage caused by the behavior of the homeowner. And that fact undermines the authority of the court to even hear the case.
Foreclosure News Daily Update ⋅ February 2, 2022 |
|||
|
Flood of COVID-19 home foreclosures didn’t happen in Orlando, rest of US Orlando Sentinel There were foreclosure filings on 151,153 properties nationwide in 2021, a 29% drop from 2020, according to a study by foreclosure analysts Attom. foreclosed homes in hubbard ohio. Check out 300 Sharon, PA foreclosure homes for sale, wh – vitorvolpon.com Foreclosures – Duval County Texas – Duval County Texas – sheriffsaleauctions.com
|
|||
|
Mountain View MHP -Public Auction-Landlord Lien Foreclosure Sale | Tacoma Daily Index Tacoma Daily Index NOTICE. Spanaway- Public Auction/Landlord Lien Foreclosure Sale – 02/07/2022 at 10:00 AM – 1974 SKY 60/12 Mobile Home, VIN: 1004H; Mountain Valley …
|
|||
|
Montauk pagoda once asking $55 million headed to foreclosure – The Real Deal The Real Deal A judge approved the foreclosure auction of 42 Old Montauk Highway, a pagoda-style mansion that has struggled to find a buyer since 2009. Foreclosure Buying Process – Curasi Realty, Inc. – Curasi Realty, Inc. buchanan county homes for sale. Find amazing real estate investments in your area. 304 H – Aizaz Ahmad Chaudhry
|
|||
|
Notice of Mortgage Foreclosure | Legal Announcements | oanow.com Opelika Auburn News L4760 NOTICE OF MORTGAGE FORECLOSURE SALE STATE OF Alabama COUNTY OF LEE Default having been made of the terms of the loan documents secured by …
|
|||
|
Foreclosing on a Reverse Mortgage Holder – DSNews DS News The bank-initiated foreclosure proceedings against the Palmero estate, which Mrs. Palmero opposed on the basis that the subject property was her …
|
|||
|
Kanye West: ‘Stop asking me to do NFTs…for now’—here’s what he’s focusing on instead – CNBC CNBC Don’t miss: This couple made nearly $120K in under 6 hours selling NFTs to save their home from foreclosure. VIDEO4:0304:03.
|
|||
|
The ESG Factor, January 2022 – One of These Things Is Not Like the Other: New York State … JD Supra The Plaintiff filed a motion in the Supreme Court of the State of New York looking to stay the foreclosure, arguing that the mezzanine sale was …
|
|||
|
Los Angeles County Eviction Moratorium Extended | Snell & Wilmer – JDSupra JD Supra … Requirements in Response to End of COVID-19 Foreclosure Moratorium · Oregon Legislature Imposes New Foreclosure Moratorium Which May Be …
|
|||
|
Published in the Echo Journal, February Pine and Lakes Echo Journal NOTICE OF ASSESSMENT LIEN FORECLOSURE SALE YOU ARE NOTIFIED THAT: 1. Default has occurred in the terms and conditions of the Declaration of …
|
|||
|
Mass. highest court to weigh in on racial bias in predatory home loans – WGBH WGBH A foreclosure sign in front of a home in Richmond, Calif. Justin Sullivan / Getty Images. By Daniel Medwed · Henry Santoro. February 1, 2022 …
|
|||
|
STATE OF MINNESOTA COUNTY OF BECKER DIST – Detroit Lakes Tribune Detroit Lakes Tribune NOTICE OF MORTGAGE FORECLOSURE SALE THE. February 02, 2022 01:45 AM. 2022 Notice to LAKE VIEW TOWNSHIP RESIDE. February 02, 2022 01:45 AM.
|
|||
|
Mahoning County courts: New cases | News, Sports, Jobs – The Vindicator The Vindicator KENNETH A. BOWSER et al., complaint for foreclosure. ROBERT M. VUKOVICH vs. GATEWAYS TO BETTER LIVING INC. AND BWC, notice of appeal.
|
|||
|
$350 million pandemic homeowner assistance fund launches; applications open – Daily Local Daily Local … their homes and foreclosure – this program will do just that,” said Gov. … defaults, foreclosures, displacement and utility disconnection.
|
|||
|
Estate of Jean Carol Watson | Public Notices | theameryfreepress.com Amery Free Press Defendants. Notice of Foreclosure Sale. Case No. 2021 CV 241. PLEASE TAKE NOTICE that, by virtue of a judgment of foreclosure entered on December 3, … Gov’t foreclosure = Deal: 3BD End-group Townhome – real estate – by… – Craigslist Baltimore – Craigslist Baltimore Legal Notice Sale of Real Estate Montgomery County – Classifieds – Classifieds WOW! Gov’t foreclosure in Great area,GARAGE over 1 acre! – real… – Craigslist Baltimore – Craigslist Baltimore
|
|||
|
Ringleader Pleads Guilty in Arson, Insurance Fraud Scheme – Claims Journal Claims Journal In August 2013, one of their co-conspirators renegotiated the mortgage on a home in Kansas City to prevent foreclosure.
|
|||
|
Fitch Upgrades Stratton Mortgage Funding 2021-1’s Class B and C Notes; Affirms Others Fitch Ratings Foreclosure Frequency Macroeconomic Adjustments: Fitch applied foreclosure frequency (FF) macroeconomic adjustments to the UK non-conforming (UKN) …
|
|||
|
Is Long Island’s housing market another house of cards? | Newsday Newsday As COVID-related housing foreclosure moratorium ends, about 14500 Long Island homeowners are at least three months behind on paying their …
|
|||
|
Sweet Home mill auction draws bids | Government and Politics | lebanon-express.com Lebanon-Express The former Weyerhause/Willamette Industries mill property has been owned by Linn County since 2010, when it was acquired following a tax foreclosure …
|
|||
|
Slate lends $137M on W’burg rental development – The Real Deal The Real Deal The deal had to come together quickly as The Collective, a U.K.-based co-living developer, was under pressure to sell the site before a foreclosure …
|
|||
|
The Courts | News, Sports, Jobs – Morning Journal The Courts | News, Sports, Jobs – Morning Journal G. Kirk and Dawn Zilich Miller, et al., foreclosure sought for alleged delinquent taxes for property on Avondale Avenue, East Liverpool.
|
|||
|
North Carolina opens $273 million fund to help homeowners pay bills, other housing-related … WBTV … defaults, displacements and foreclosures for homeowners experiencing … dues/fees or delinquent property taxes to prevent foreclosure.
|
|||
|
Clark County Common Pleas Court cases – Springfield News-Sun Clark County Common Pleas Court cases 22CV0044: Honda Federal Credit Union v. Donald F. Collier, Jane Doe, Pamela Littlejohn, foreclosure. All cases are up-to-date. Property transfers:.
|
|||
|
The Differences Between Filing Chapter 7 Bankruptcy Vs. Chapter 13 Bankruptcy – Digital Journal Digital Journal The filing of the bankruptcy stops the foreclosure or repossession and allows them to catch up the past due payments over a period of 3 to 5 years.
|
|||
|
Santa Barbara Hotel Workers Sue Ty Warner for $6 Million The Santa Barbara Independent … resulting in evictions, foreclosure of mortgages, unpaid bills, the inability to purchase health insurance, and severe emotional damages.
|
|||
|
020122-qc-nws-urbanhomestead -043 | | qconline.com – Dispatch Argus Dispatch Argus Built in 1901, the two-story house near Fejervary Park in Davenport had been in and out of foreclosure and utilized primarily as a rental property …
|
|||
|
Cortland Common Council Agenda: February 1st, 2022 (Live Stream Information Included) Cortland Voice … AND WHEREAS, a tax foreclosure proceeding would be time consuming inconsistent with the need to immediately address issues at the Property; …
|
|||
|
Foreclosing on a Reverse Mortgage Holder – Appraisal Buzz Appraisal Buzz … Supreme Court case examining the differences between a reverse mortgage and a traditional mortgage when the foreclosure process is initiated.
|
|||
|
5 Best Bankruptcy Attorneys in Tampa, FL Kev’s Best They have the information, abilities, and competence to assist you with filing for foreclosure, bankruptcy, debt settlement, credit restoration, …
|
|||
|
ATTOM’s Real Estate API Platform Webinar Summary ATTOM Data Solutions ATTOM blends property tax, deed, mortgage, foreclosure, environmental risk, natural hazard and neighborhood data for more than 155 million U.S. …
|
|||
|
Fight Real Estate Defaults With Proactive Bankruptcy Filings – Law360 Law360 In such circumstances, with deed-in-lieu arrangements and foreclosures … likely not be long before they are served with a foreclosure complaint. Islamic Financing and Foreclosure – Counselors of Real Estate – Counselors of Real Estate Mezzanine Loan Foreclosures | Practical Law – Westlaw – Westlaw
|
|||
|
Constantine decides not to refurbish fire station – WLKM Radio 95.9 FM WLKM Radio 95.9 FM The village purchased the building in 2018 after foreclosure for non-payment of taxes. Share. tweet …
|
|||
|
TRUSTEE’S SALE OF 9311 ELECTRA LANE, RICHMOND, VA 23228 Richmond Times-Dispatch The Purchaser may, if provided by the terms of the Trustee’s Memorandum of Foreclosure Sale, be entitled to a $50 cancellation fee from the …
|
|||
|
FILE NO: 20 SP 36 STATE OF NORTH | Public Notices | averyjournal.com Avery Journal … of personal property in connection with a foreclosure of real property. … as a matter of law, survive the foreclosure of the Deed of Trust, … 4/5/2022 (2) – Collin County Foreclosure Notices – Collin County Foreclosure Notices
|
|||
|
Our View: Take advantage of homeowner assistance | Opinion | guampdn.com Pacific Daily News Foreclosure and eviction moratoriums stopped on June 30, 2021, and Pandemic … defaults, foreclosures, loss of utilities, home energy services, … Foreclosure Prevention Assistance – BenefitsCheckUp – BenefitsCheckUp
|
|||
|
WEB |
|||
|
Foreclosure Notices – Palo Pinto County, Texas Palo Pinto County, Texas Foreclosure Notices. February 2022 Foreclosures. How to find us. Palo Pinto County Courthouse 520 Oak St Palo Pinto, TX 76484 …
|
|||
|
Foreclosures and Sales – Gaines County, Texas Gaines County, Texas How to find us. Gaines County Courthouse 101 S Main St Seminole, TX 79360. How to reach us. Phone: …
|
|||
|
Notice of Foreclosure Sales – Menard County, Texas Menard County, Texas How to find us. Austin County Courthouse One East Main Street Bellville, Texas 77418 …
|
|||
|
Foreclosure Notices – Rains County, Texas Rains County, Texas NOTICE OF FORECLOSURE SALE FINANCE OF AMERICA REVERSE-BOYD. DECEMBER 2021. NOTICE OF TRUSTEE SALE CHEVEZ-IRON BRIDGE
|
|||
|
Foreclosure Notices – Kinney County, Texas Kinney County, Texas How to find us. Kinney County Courthouse 501 S Ann St Brackettville, TX 78832. How to reach us. Phone: ( …
|
|||
|
Notice of Trustee Sales – Moore County, Texas Moore County, Texas How to find us. Moore County Courthouse 715 S Dumas Ave Dumas, TX 79029. How to reach us. Phone: …
|
|||
|
Foreclosure Notice – Sterling County, Texas Sterling County, Texas Foreclosure Notices. How to find us. Sterling County Courthouse 4th St Sterling City, TX 76951. How to reach us. Phone: (325) 378-3481 …
|
|||
|
Foreclosure Investing with Homes for Sale in NC: How to Find, Finance & Market … The Country Bookshop Get the best strategies for buying foreclosed homes in North Carolina. 4,000 sources for finance. Have the best North Carolina Foreclosure Property …
|
|||
|
Fundraiser by Joanie Lsmb : Foreclosure on Home… Sister Jan Lamb – GoFundMe GoFundMe Hi ! I am Joanie Lamb! My Parents Home, where My sister is Living , is going to go t… Joanie Lsmb needs your support for Foreclosure on Home…
|
|||
|
Cash For Houses-Foreclosure Stopped – real estate wanted – apartment… – Craigslist Baltimore Craigslist Baltimore I buy houses As Is for CASH. I don’t have to qualify for a loan to buy your house! If you want or need to sell your house give us a call today!
|
Now You Can Unlock the Power of Justice and the Rule of Law with FRAUD STOPPERS
Are you tired of being a victim of financial fraud, seeking the justice and legal remedy you deserve? Look no further – FRAUD STOPPERS is here to empower you with the comprehensive tools and support necessary for success. With a wide range of services tailored to your needs, we are your ultimate ally in the fight against fraud.
FRAUD STOPPERS Arsenal of Solutions includes but is not limited to:
- Audits & Investigations: Our team of skilled professionals will meticulously analyze your case, leaving no stone unturned in uncovering the truth. We employ cutting-edge techniques and resources to expose the fraud and gather irrefutable evidence. We are the only organization (to our knowledge) that can provide you with a Full Level 4 Bloomberg Securitization Audit and all the loan level data and trust information for all Government Sponsored Loans (GSE’s) and loan placed in private trust (shipped off shores) that do not report to the Securities and Exchange Commission (SEC).
- Expert Witness Affidavits & Testimony: Our network of esteemed experts will provide compelling affidavits and testify on your behalf, lending credibility and authority to your case. Their specialized knowledge and experience will strengthen your position in the legal battle.
- Turnkey Litigation Packages: We understand that navigating the complex legal landscape can be overwhelming. That's why we offer comprehensive litigation packages, equipped with all the necessary documents and strategies to mount a strong defense against fraudsters.
- Professional Paralegal Support: Our dedicated paralegals are committed to assisting you every step of the way. They will guide you through the process, offer invaluable insights, and provide crucial administrative support to ensure your case is well-prepared.
- Nationwide Attorney Networks: We have established a vast network of highly skilled attorneys across the country who specialize in fraud cases. Rest assured, you will be connected with a trusted legal expert who is passionate about seeking justice on your behalf.
- Legal Education and Training: At FRAUD STOPPERS, we believe that knowledge is power. That's why we provide comprehensive legal education and training resources, empowering you to understand your rights, navigate the legal system, and make informed decisions throughout your case.
- Debt Settlement Negotiations: Our experienced negotiators will engage with creditors on your behalf, striving to reach favorable debt settlement agreements. We will advocate for your interests, aiming to alleviate the financial burden caused by fraud.
- Private Lending: If you require financial assistance to support your legal battle, our private lending options can provide the necessary funding. Our trusted lending partners offer competitive rates and flexible terms, ensuring you have the resources to fight for justice.
And much more! Save Time, Money, and Increase Your Odds of Success with FRAUD STOPPERS' Proven Products and Programs
If you're serious about getting the legal remedy you deserve, FRAUD STOPPERS has everything you need to succeed while saving time, money, and increasing your odds of success. Our comprehensive range of proven products and programs is designed to streamline the process, maximize efficiency, and deliver results.
Time is of the essence when it comes to combating fraud, and we understand the importance of expediting your case. With our expertise and resources, we can minimize delays and ensure efficient progress. By leveraging our extensive experience in fraud investigations and legal strategies, you can navigate the complexities of the legal system with confidence, saving valuable time in the process.
We also recognize the financial burden that fraud can impose, and we are committed to providing cost-effective solutions. Our competitive rates for services, private lending options, and expert negotiation skills can help you save money while maximizing the value you receive. Rest assured that we strive to optimize your resources, enabling you to fight fraud without breaking the bank.
Partnering with FRAUD STOPPERS significantly increases your odds of success. Our proven track record and extensive network of experienced professionals ensure that you have the best possible resources at your disposal. From expert witness testimonies to strategic litigation packages and effective debt settlement negotiations, our carefully curated products and programs have a track record of achieving favorable outcomes. With FRAUD STOPPERS by your side, you can maximize your chances of holding fraudsters accountable and obtaining the justice you deserve.
By choosing FRAUD STOPPERS, you can save time, save money, and increase your odds of success. Our proven products and programs, combined with our commitment to your cause, empower you to reclaim your future. Take the first step towards justice by completing the form below.
Remember, with FRAUD STOPPERS, you have a trusted partner dedicated to saving you time, money, and increasing your chances of success. Let us fight by your side and help you put an end to fraud once and for all.
Our commitment to your success knows no bounds. We are constantly expanding our services and partnerships to provide you with the most effective tools in the fight against fraud.
Ready to get started?
Simply complete the form below to begin your journey towards justice. Once submitted, check your email inbox or email spam folder for detailed instructions on how to move your file forward.
Remember, you don't have to face fraud alone – FRAUD STOPPERS is here to champion your cause and bring you the justice you deserve.
Join us in the battle against fraud today!
Complete the form below and then after submission, check your email inbox or spam folder for detailed instructions on how to move your file forward to get the legal remedy you seek and deserve.
LIST OF FORECLOSURE LAWS BY STATE
THIS SITE IS NOT INTENDED TO BE MISCONSTRUED AS LEGAL ADVICE. FRAUD STOPPERS is a Private Members Association PMA. FRAUD STOPPERS PMA is NOT a law firm, non-profit organization, or government agency. FRAUD STOPPERS PMA does not operate in the public sector. Although this website is visible to the public FRAUD STOPPERS PMA does not intend for any information contained in this website to be considered as legal advise.
The information about Foreclosure law and other legal information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user or browser; FRAUD STOPPERS and its members do not recommend or endorse the contents of the third-party sites.
Readers of this website should contact their attorney to obtain advice with respect to any particular legal matter. No reader, user, or browser of this site should act or refrain from acting on the basis of information on this site without first seeking legal advice from counsel in the relevant jurisdiction. Only your individual attorney can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client relationship between the reader, user, or browser and website authors, contributors, contributing law firms, or committee members and their respective employers. This site provides “information” about the law and is only designed to help users safely cope with their own legal needs. But legal information is not the same as legal advice — the application of law to an individual’s specific circumstances.
The views expressed at, or through, this site are those of the individual authors writing in their individual capacities only – not those of their respective employers, FRAUD STOPPERS, or committee/task force as a whole. All liability with respect to actions taken or not taken based on the contents of this site are hereby expressly disclaimed. The content on this posting is provided “as is;” no representations are made that the content is error-free.
For instant access to an affordable local competent attorney click here
