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FRAUD STOPPERS Foreclosure News and Updates

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FRAUD STOPPERS Foreclosure News Daily update ⋅ September 22, 2020

 
FORECLOSURE NEWS Daily Update ⋅ September 22, 2020  

Milwaukee County offering mortgage assistance support for homeowners facing foreclosure

WDJT

… CARES Act funding to eligible homeowners facing mortgage delinquency or foreclosure due to financial hardships as a result of the pandemic.

     
 

Bluestone Group Triggers UCC Foreclosure on Williamsburg Development Site

Commercial Observer

An official at Bluestone was not available to answer a call requesting comment on the foreclosure action. Rosewood Realty Group’s Aaron Jungreis, …

     
 

AHLA Survey: Half of US Hoteliers Say Foreclosure Possible

Business Travel News

Half of U.S. hotel-owner respondents to a recent American Hotel & Lodging Association survey indicated that they were in danger of foreclosure by …

Survey: 74% of Hotels Will Lay Off More Employees Without Further Aid – Hotel Business

Full Coverage

     
 

Grand Chicago Hotel in Foreclosure, a Symbol of Covid-19’s Toll on Hospitality Industry

Wall Street Journal

Now, some see the foreclosure action against Palmer House as a sign that lenders might be getting tougher, more willing to start the process of seizing …

     
 

Commercial evictions, foreclosures to be halted through Oct. 20, Cuomo says

silive.com

— Commercial tenants will not face eviction or foreclosures if they are unable to pay their rent due to setbacks from the coronavirus pandemic through Oct …

Cuomo extends New York commercial eviction moratorium — again – Albany Business Review

Full Coverage

     
 

Lessons From the Last Recession: How I Saved My Home from Foreclosure

MSN Money

Lessons From the Last Recession: How I Saved My Home from Foreclosure. Thirteen years ago, Thomas Nitzsche was working night shifts in the …

     
 

Applications Open Oct. 1 For Rental Assistance And Foreclosure Prevention Programs In Boca Raton

Patch.com

Households cannot have liquid assets that exceed $25,000. Foreclosure Prevention for Homeowners. The homeowner’s mortgage(s) must have been …

     
 

Oregon Extends Foreclosure Moratorium and Restrictions for Secured Lenders until December 31 …

JD Supra

On June 30, 2020, the State of Oregon enacted House Bill 4204 (the “Bill”) establishing a temporary commercial and residential foreclosure …

     
 

Cuomo Extends Moratorium On Commercial Evictions, Foreclosures

Jamestown Post Journal

Andrew Cuomo on Monday announced an executive order extending the state’s moratorium on COVID-related commercial evictions and foreclosures …

     
 

11 new cases of COVID-19 reported over weekend

Evening Observer

MORATORIUM ON EVICTIONS, FORECLOSURES EXTENDED … The commercial eviction and foreclosure moratorium was extended through Aug.

Foreclosure News

     
 

Home equity surges as demand soars and mortgage rates hover near lows

CNBC

As long as they have some equity, they would not be forced into foreclosure. “Homeowners’ balance sheets continue to be bolstered by home price …

     
 

Some good news for homeowners struggling to pay the mortgage

KOMO News

This temporary foreclosure freeze only applies to single-family mortgages backed by Fannie Mae or Freddie Mac. If you are struggling to pay the …

     
 

THE COURTS

Morning Journal News

County Treasurer vs. Martha Jean Newlan, Trustee for the Martha Jean Newlan Trust, foreclosure sought for alleged delinquent taxes for properties on …

     
 

Advocates push for extension to Massachusetts eviction ban

Worcester Telegram

The initial pause on evictions and foreclosures in Massachusetts took effect in April and was scheduled to expire Aug. 18, but was extended until Oct.

     
 

McDowell

Morganton News Herald

20-SP-72 NOTICE OF FORECLOSURE SALE DEED OF TRUST BEING … property is being foreclosed pursuant to N.C.G.S. §25-9-604, if necessary; …

     
 

NY Lenders May Face Barriers In Real Estate Dispositions

Law360

202.8 prohibit foreclosure of any commercial property for a period of ninety days without limitation to mortgages, that provision addresses enforcement …

     
 

Around Brooklyn: Brooklyn Museum to sell 12 works

Brooklyn Daily Eagle

Downtown Brooklyn hotel faces foreclosure … hotel that provided housing for the homeless during the coronavirus pandemic is facing foreclosure.

     
 

Cincinnati law firm Lerner Sampson & Rothfuss furloughs 90 workers due to coronavirus

Cincinnati Business Courier

Lerner, Sampson & Rothfuss specializes in litigation, foreclosure, bankruptcy, eviction, loss mitigation and real estate owned transactions. Rothfuss said …

     
 

NY halts commercial evictions, groups demand aid for renters

San Francisco Chronicle

(AP) — New York commercial tenants are protected from evictions and foreclosures through Oct. 20 under a new executive order announced Monday.

COVID-19: Moratorium On Evictions Extended Again, Cuomo Announces – White Plains Daily Voice

COVID-19: Moratorium On Evictions Extended Again, Cuomo Announces – Yorktown Daily Voice

Full Coverage

     
 

Redding wins legal dispute over former Gilbert and Bennett wire mill.

CT Insider

Redding began the foreclosure process against Georgetown Land Development Company over the former wire mill property in 2014 and filed the …

     
 

Coronavirus update San Antonio, Sept. 21: Officials report 102 new COVID-19 cases, 1 new death

KSAT San Antonio Foreclosure News

… members since campuses reopened. Wolff said he issued an emergency order today to cancel a foreclosure sale that was scheduled for October.

     
 

Loss Mitigation Strategies – Lessons Learned from the Last Economic Crisi

Lawyers.com Blog

Description. Zoom in at Noon with Roy Oppenheim: Discussions on loan modifications, short sales and foreclosure defense strategies. REGISTER …

     
 

South Florida real estate projects in the pipeline for the week of Sept. 18

South Florida Business Journal

LV Midtown LLC filed a $15 million foreclosure lawsuit against Aventura Hotel Properties over the 1.03-acre site at 3601, 3610, 3630, 3651 and 3701 …

     
 

DealBook: How Ginsburg’s Successor Could Remake Business

The New York Times Foreclosure News

She also supported withdrawing a law that helped homeowners recover legal fees from banks that improperly attempted foreclosure. Here are some of …

In Miami, buzz over Cuban American judge Barbara Lagoa as potential Trump Supreme Court pick – NBC News

Full Coverage

     
 

Luxe Rodeo Drive Hotel in Beverly Hills Closes Due to Coronavirus Shutdowns

Commercial Observer

“Industry data shows 1 in 4 properties already are struggling to pay mortgages, risking foreclosure.” Many fear a wave of foreclosures nationwide, and …

     
 

RENEE L. MCCRAY v. JOHN E. DRISCOLL, III, et al.

Maryland Daily Record

Real property — Foreclosure action — Proper content o appellate brief This appeal involves a foreclosure action brought in the Circuit Court for …

     
 

Monday Bulletin: Remembering RBG, Marching Band Disbands, Condo Woes, Murph the Surf

westsiderag.com

Five years later, the developer is facing potential foreclosure on four of his properties, including The Astor, Crain’s reported. “Sales of newly developed …

     
 

Midland County crime log – Sept. 22, 2020

Midland Daily News

The complainant bought a foreclosed property where the previous owner owns the adjacent parcel that has a pole barn with living quarters on the …

     
 

China’s home foreclosures soar as nation’s debt-fuelled property bull run sputters on falling income …

EdgeProp.sg

China’s property foreclosures soared this year, as deteriorating job prospects and shrinking income amid the worst economic contraction in decades …

     
 

New York extends eviction moratorium

WRGB Foreclosure News

(WRGB) The state continuing to protect tenants, once again extending the eviction and foreclosure moratorium by another month. If they are unable to …

     
 

Commercial evictions halted, groups demand aid for renters

Lockport Union-Sun & Journal

ALBANY — New York commercial tenants are protected from evictions and foreclosures through Oct. 20 under a new executive order announced …

WNY again leads state’s regions in positive COVID tests – Olean Times Herald

Full Coverage

     
 

An Eviction Moratorium without Rental Assistance Hurts Smaller Landlords, Too

Brookings Institution Foreclosure News

… along with a growing number of state and local governments, have taken measures to protect nd tenants from the threat of foreclosure and eviction.

     
 

Acclaimed Attorney, Timothy McFarlin, Examines the Spike in Mortgage Delinquencies as an …

EIN News

As homes begin to go to foreclosure, or get liquidated by the homeowner to at … Just a few foreclosures in a neighborhood can destroy the comps …

     
 

HUD announces over $212M in CDBG funds available to New Yorkers for rent, mortgage payments

Albany Times Union

… state to assist households with overdue rent and mortgage and protect them from eviction or foreclosure. New York City will receive the most funding …

     
 

Belmont council delays reopening village alley

Martins Ferry Times Leader

… that there are two properties, one on Market Street and one on Bridge Street that are in tax foreclosure and have become overgrown and neglected.

     
 

Demonstrators Protest Systemic Displacement

KBND

… a lawsuit to fight the foreclosure when they were evicted. This, despite the ongoing moratorium on foreclosures through the end of the year. Read All.

     
 

Millions can’t pay rent. Landlords making less than $50000 a year are caught in the middle

CNBC

… continued partial payment or non-payment could force some into forbearance or foreclosure,” the Government Accountability Office said Monday in …

     
 

Hearing scheduled on receivership of downtown Des Moines parking garage

Business Record

14, Bankers Trust Co. filed a foreclosure petition in district court alleging 5th and Walnut Parking LLC and developers Justin Mandelbaum and Sean …

     
 

Upscale Luxe Rodeo Drive Hotel Closes, a Casualty of the Pandemic

RADIO.COM

“Industry data shows 1 in 4 properties already are struggling to pay mortgages, risking foreclosure.” Aron Harkham, president of Luxe Hotels and son …

     
 

Take Charge America Offering Free One-On-One Housing Counseling During October

Arizona Daily Star

“Whether facing eviction, shopping for a home in a tight market or experiencing anxiety about foreclosure or mortgage default, people are …

     
 

#BankBlack

The New York Times

Four years before this summer of unrest in New York City, I attended the protests after Alton Sterling and Philando Castile were shot and killed by …

     
 

Take Charge America Offering Free One-On-One Housing Counseling During October

Business Wire

Avoiding foreclosure and default options. Rental Counseling. For individuals getting their own place for the first time or moving to a new location, rental …

     
 

Many LA hotels are at risk of shutting down permanently during pandemic

KCRW

The LA Times reports that one in four hotels are struggling to pay their mortgages and at risk of foreclosure. Support KCRW — your daily lifeline. KCRW …

     
 

Survey: 74% of hotels will have to lay off more employees without new stimulus deal from Congress

USA TODAY

Half of hotel owners said that due to the pandemic, they are in danger of foreclosure. What’s more: More than two-thirds of hotels said that at current …

     
 

CORRECTION

SalemNews.net

COMMON PLEAS COURT. New Cases County Treasurer vs. Gregory and Patricia Weaver, et al., foreclosure sought for alleged delinquent .

     
 

KeyBank Adds Home Equity Portfolio To Black Knight’s MSP Servicing System

National Mortgage Professional Magazine

KeyBank also uses Black Knight’s Empower loan origination system, bankruptcy, foreclosure, loss mitigation, invoicing, actionable intelligence …

     
 

Here Are Today’s Best Mortgage & Refinance Rates for September 21, 2020

MONEY

… to be bolstered by home price appreciation, which in turn mitigated foreclosure pressures,” said Frank Martell, president and CEO of CoreLogic.

     
 

Mortgages – Claim preclusion

Massachusetts Lawyers Weekly

Where a plaintiff lender has filed a “try title” complaint against a defendant that was the highest bidder at a foreclosure sale, the complaint must be …

     
 

Few Mass. Mortgages Have Negative Equity: Report

Banker & Tradesman

… by home price appreciation, which in turn mitigated foreclosure pressures,” CoreLogic President and CEO Frank Martell said in a statement.

     
 

Housing Counseling Services – Lockport Township

Patch.com

… a successful spending plan, protecting yourself as a Landlord or Tenant and even finding ways to prevent and avoid foreclosure, our counselors are …

     
 
WEB  

Clay County Foreclosure Auctions

realforeclose.com

     
 

list of bank-owned foreclosed properties

TD Bank

     
 

Rising 90+ day mortgage delinquencies are the foreclosure shadow inventory

first tuesday Journal

The longer the shadow grows, the greater the tidal wave of foreclosures to come.

     
 

Getting out of foreclosure

Tabby’s Place

You’ve done it; I’ve done it; I strongly suspect we will both do it again. I’m talking about talking trash about 2020. I think we might have overdone it just …

     
 

Notice of Foreclosure

Key West Citizen

To view our latest e-Edition click the image on the left. Promote your event. Log In / Sign Up. Today; Tomorrow; This Weekend; This Week; Next Week …

     
 

How To Find Foreclosure Homes For Sale

New Silver

The reason foreclosed homes often sell below their market value is because the bank (loan provider) is motivated to get the property off their books as …

     
 

Commercial Foreclosure Checklist (OH)

Westlaw

A Checklist outlining important steps for a lender to consider when preparing for and conducting a judicial foreclosure of a mortgage secured by …

     
 

Collin County Foreclosure Notices

Collin County Foreclosure Notices

Foreclosure Notices. Foreclosure Notices. Show/Hide Filter. List Filters. Sale Date. 10/6/2020 (2) [X]. City. Frisco (2) [X] · Show All. Property Type.

     
 

Buying a Foreclosed Home in Florida: What Do I Need to Know Before I Buy?

HG.org

Disclosure obligations imposed on sellers of foreclosed homes are not exactly the same as owner-occupied properties. If the seller that bought a …

     
 

How To Sell Your House To Avoid Foreclosure In Houston

Priority House Buyers

People in foreclosure often have other unfortunate things happening in their lives and dealing with the banks is the last thing they want to do. The good …

     
 

Boca Raton FLORIDA – Circle Tile (City of)

Boca Raton, FL

The City has approved Rental Assistance and Foreclosure Prevention Programs that can provide assistance to tenants that are delinquent on their …

     
 

Gov Cuomo Extends Moratorium On Evictions/Foreclosures

WLEA

The commercial eviction and foreclosure moratorium was extended through August 20 and later through September 20 by Executive Order, and the …

     
 

Panama Foreclosure

Facebook

House in Santiago Veraguas starting at $74,646.00 | Learn how to Buy Foreclosed Real Estate for sale in Panama by the courtrooms in public auction.

     
 

Foreclosure Archives – GlobalFinTechSeries

Global FinTech Series

KeyBank is now servicing first mortgages and home equity loans on a single platform – KeyBank is now using the Black Knight MSP servicing system …

     
 

IMPRESSIVE COLORADO LAND! 38.64 ACRES IN BENT COUNTY!

Government Auction

Lot #4: IMPRESSIVE COLORADO LAND! 38.64 ACRES IN BENT COUNTY! FORECLOSURE! JUST TAKE OVER PAYMENTS! All …

     
 

1630 Embassy Drive FL 33401

PBC Home Auctions

Bid now for 1630 Embassy Drive at the Foreclosure Auction! Browse our huge list of foreclosed properties to find your next home in Palm Beach …

     
 

Global markets slide on fears of further foreclosure | Business

FR24 News English

The FTSE 100 suffered its worst day in more than three months as the odds of a second national lockdown narrowed and the coronavirus outbreaks in …

     
 

Judgement of Foreclosure & Sale Orders

theBrokerList.

… County Judgment of Foreclosure and Sale Orders – Commercial Property. The Properties are being sold together or separately. Building Size: 5,414.

     
 

Foreclosure: 2BR/1BA Chittenden County Condo

GoToAuction.com

Foreclosure: 2BR/1BA Chittenden County Condo. Thursday, October 22 @ 11AM. Register & Inspect from 10AM …

     
 

Stock markets sink on further foreclosure fears

FR24 News English

… biggest slaughterer, down 13.7% to 96.8p, while jet engine maker Rolls-Royce fell by a tenth to its lowest level since 2004. TAGS; fears · foreclosure …

     
 

COVID-19 Rental, Evictions and Foreclosures FAQ Boulder County, Updated 9/21/2020

Boulder County

mortgage payments (see foreclosure section below), therefore relieving pressure for rental payments. • If a housing provider hands a tenant a Notice to …

     
 

Taber Foreclosures For Sale

Lethbridge Real Estate Centre

Taber Foreclosure list call Gordon Davy (403) 380-8884. Research Taber Bank & Court Ordered Foreclosures, bank owned homes for sale on …

     
 

Complaint to Commence Action to Enforce Mechanic’s Lien (GA)

Westlaw

… action) and property owner (foreclosure action) to enforce a mechanic’s lien related to improvements to privately owned real property in Georgia.

     
 

 

Foreclosure News

Why Homeowners Should Win Foreclosure Cases

by Neil Garfield

So I obviously don’t have the time to go over this in any detail. But skimming it, reveals a number of things. The first thing you should remember is that this is a report generated by a report program that accesses one or more databases that were not created, maintained or utilized for INPUT by anyone in Ocwen. If you pursue discovery (assuming you have that option or can create it) this fact could be revealed beyond any reasonable doubt — or raised by inference when they fail or refuse to respond. 

Once you do that a few things are true:
(1) Ocwen records are no longer qualified as business records exceptions to the hearsay rule because the entries of data were not made at by Ocwen employees at or near the time of any transaction 

(a) Any claimed boarding process is charade. Since the records were always on the same server and “boarding” mere consisted of changing login name and password, there was no boarding process.
(2) The actual company that owns and operates the servicer(s) containing the data that was used to generate the report, must be named because
(a) the actual relationship between the company claiming to be “servicer” and any “creditor” is unknown.

(b) Hence the authority of Ocwen is eliminated. It is not the records custodian for the XYZ Bank as trustee for the registered certificate holders of the ABS Trust pass through certificates. It is not a witness to any transaction and everything they have is generated through the report writing program which is neither owned nor operated by them.

All of that means that the lawyers don’t have a case. And they know that, which is the subject of another piece on why lawyers should not be able to do that. I have had more than one lawyer admit that there was no trust or that it was empty in private conversation. They can only justify their action by saying that even though the securitization scheme was seriously and obviously flawed they were merely enforcing the original intent of the parties. The question therefore is what if that is NOT what is happening?

Since we already know that they don’t have a creditor they won’t be able to produce one. And we know that because the loan account was extinguished or retired during the securitization process in which investment banks received money in exchange for securities that more than covered the debt from homeowners but was never credited to the loan account because the loan account did not exist. 

And perhaps more importantly from a proof perspective, the removal of the receivable suspense account arising from funding the origination or acquisition of a “loan” is an admission against interest that the loan account does not exist. So it’s matter of don’t take my word for it, ask the investment bank. They won’t answer — which any experienced trial lawyer will tell you is what turns an accusation into an inference that the accusation is true.

So then you must deal with the underlying theme in all foreclosure litigation — that the homeowner is going to get a free house and is getting away scot free. It’s not fair. 

Well here is the truth. It isn’t fair if you look at the entire transaction as only a loan transaction. But it is entirely fair if the benefit received by homeowners is less than the benefit they should have received and would have received had they known the facts and had an opportunity to bargain. And there would have been competition to offer higher incentives to homeowners to execute these weapons of mass financial destruction.

But when you have an announced “lender” go into the deal without any intention of establishing or maintaining a loan account, we have a doctrine called substance over form. Since there is no loan account the intention was obviously to generate profits through some other means. In this case the other means is the sale of securities to investors by misrepresenting their value, concealing the risks and betting on failure of the securities transaction — same as with loans.

So when you look at it from two steps back and are able to see the entire transaction you can easily see that the loan transaction was a ruse in which homeowners were lured into starting a securities scheme, the beginning of which was entirely dependent upon them executing the initial instruments that originated the securitization process — the note and mortgage. 

Considering average revenue to the bookrunner investment bank of $12 for each alleged loan, the question becomes less about why the homeowner should get a free house and more about whether a free house is enough compensation for the unknown risks assumed by borrowers and for their role in starting each securitization process. 

And before you think that might be overkill, consider this: the loans were not made by anyone who maintained a risk of loss. So the lending process was completely corrupted. the normal expectation of borrowers that they would only be offered a viable loan was blown out of the water. As a result homeowners were surreptitiously being drafted into assuming risks that were concealed and which produced the 2008 crash. 

There was no intent by either party in the documented “loan” agreement that had the intent to enter into a loan transaction containing those attributes. One side didn’t see it as loan transaction at all and the other side didn’t know the true terms and conditions.

And as for any windfall argument, consider this: it happens all the time that some litigant gets more than some people think they should. The point is not to base an opinion looking backward but rather to follow the rule of law. 

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