Why knowledge of accounting is important to understand how the apparent debt vanishes in the context of securitization.

by Neil Garfield

The big change occurred when the Wall Street securities firms forced securitization practices over the line. Whereas the purpose of securitization had always been to reduce risk, the investment banks meant to eliminate it. The only way you can eliminate the financial loss from a failed asset is if you don’t own it. That is basic accounting, basic law and common sense.

If you don’t own an asset there is no basis in the law that allows you to claim a loss if the asset is somehow damaged (assuming it even exists). If you have no loss then you have no claim and the court ahs no power to grant you any “relief”.

Before 1995, all homeowner transactions were subject to the same accounting rules. Accounting consists of making data entries and issuing accurate reports about those data entries. All laws, regulations, and rules about data entries and reports are based upon compliance with Generally Accepted Accounting Principles and practices (GAAP). And all of GAAP is based on double-entry bookkeeping.

Double entry, a fundamental concept underlying present-day bookkeeping and accounting, states that every financial transaction has equal and opposite effects in at least two different accounts. It is used to satisfy the accounting equation: Assets = Liabilities + Equity. With a double-entry system, credits are offset by debits in a general ledger or T-account.

See https://www.investopedia.com/terms/d/double-entry.asp

In legal practices and doctrines, such accounting entries and reports are considered evidence that transactions occurred. And if the entries were made by an employee of the company who personally received shipment or payment, that employee would make data entry of that receipt.

The data is then processed through an accounting department that matches that entry with a different data entry showing how or why that shipment or money was received. In the simple example, if someone receives a payment it will be posted as a data entry of cash received. Accounting would post it as an increase (credit) to the cash account and a decrease (debit) of a prior account established with a product that was sold and converted into an account receivable.

Each data entry has a corresponding entry in some other account. If you paid for something, you would show a debit to cash and a credit to inventory for the product received. The outside auditor (or a court) takes all that as evidence of an event in the real world — unless, on examination, it turns out that the product was never received or that the cash was not used for the purchase of the product, such as in embezzlement.

So in a residential loan transaction, the lender keeps an accounting ledger in which all data entries are compiled. When the lender gives a borrower money, the lender debits a cash account and then credits another asset account to take the place of the cash it used to fund the loan. That other account is generically described as a loan account receivable. In general banking practice, a depository loan account is created in the name of the borrower, and the money proceeds from the loan are deposited into the name of the borrower. The borrower, if he or she was a business, would keep an accounting ledger that showed an increase (credit) to the cash account and an increase in accounts payable under the subcategory of loans payable.

So when the lender comes to court asking for foreclosure, it satisfies the prima facie elements of the claim for foreclosure by saying we loaned money to the defendant, we have the records, the defendant paid us until he didn’t, and we are suffering financial loss or injury arising from the defendant’s failure to pay. That would et them past the pleading stage.

Then at trial, the lender would produce its records custodian who would testify that he/she keeps the records for the lender. At the request of the Attorney for the lender, the custodian would provide the foundation testimony to establish that he has personal knowledge of how the books and records are kept, who receives payments, how they record them, and how the data entries are then recorded into the account ledgers of the lender. If the borrower contested whether payments were accurately entered, the lender would be obligated to produce a witness who actually received or supervised the receipt of payments from the borrower.

And so it was — for centuries.

Starting in 1995, the securitization system based upon “derivatives” (which began in 1983). So securities brokerage firms set about buying loan portfolios, initially, which evolved into borrowing to buy loan portfolios of real loans from real lenders. The first such activities were performed in accordance with the theory and intent of securitization of residential debt. Investors bought pro-rata interests in the portfolios which were managed by master servicers who subcontracted the work to subservicers. it was all perfectly legal but the securities brokerage firms were limited in sales to the dollar value of the loans. That in turn limited the commissions and fees to a percentage of the loan portfolios being traded.

Around the year 2000, everything changed. The securities brokerage firms started executing a plan that would give them multiples of the amounts traded as “loans” instead of percentage commissions. As an analogy, imagine a car salesman suddenly finding a way to get $500,000 for every car he/she sold for $40,000. If his/her commission was 5% the earings would increase from $2,000 to $500,000. And even if his scheme was somewhat illegal or extra-legal he would have enough money to pay off everyone around him to shut up, giving them more money than they had ever seen in their lives.

The rules of accounting and the rules of law are the same. If you don’t own an asset you have no financial loss associated with the loss of the asset. And that is because there is no account that gets debited or credited with any payment or disbursement related to the asset. According to GAAP and the law, if there are payments and disbursements, they are not related to an asset if it is not owned by the party who made or received payment. Without that, the courts are without any authority to hear any dispute relating to the asset. If the party making a claim does not own the asset, it cannot claim a financial injury. And without a present financial injury, there is no claim.

Foreclosure Daily Update ⋅ June 11, 2021

Foreclosure

Dothan Eagle

L3415 NOTICE OF FORECLOSURE SALE HOUSTON COUNTY Default having been made in the payment of the indebtedness secured by that …

To stem blight, Tri-State city dangles tax hike, forced foreclosure

WXIX

And if there’s still no action, Fossett says the city will put a lien on the property and take it through foreclosure. Advertisement. He’s hoping it doesn’t come …

NOTICE OF FORECLOSURE SALE UNDER POWER DOUGHERTY COUNTY, GEORGIA

The Albany Herald

NOTICE OF FORECLOSURE SALE UNDER POWER DOUGHERTY COUNTY, GEORGIA Under and by virtue of the Power of Sale contained in a …

Foreclosure

Times-Journal

Cloudy with occasional light rain throughout the day. High 79F. Winds SW at 5 to 10 mph. Chance of rain 60%. Locally heavy rainfall possible.

Why you should refinance your mortgage instead of waiting for forbearance and foreclosure …

Fox Business

However, if you’re looking to save on mortgage payments or pull out your home’s equity, waiting around for these extensions may not be the best course …

Senate requires former AG to testify about foreclosure of Trump’s data

Texas News Today

The committee staff and the other two who knew about the foreclosure of the data were able to talk anonymously. Apple notified the commission last …

Real Property, Financial Services, & Title Insurance Update: Week Ending March 26, 2021

JD Supra

Foreclosure: Trial court cannot arbitrarily reject evidence or testimony in a mortgage foreclosure proceeding, and lender that proved elements was …

Eau Gallie ‘zombie house’ where man was killed faces Melbourne City Hall crackdown

Florida Today

“I have been advised that the home is under foreclosure, and people are living (in) it with no power. I have been told they are running a generator for …

Federal pause on evictions and foreclosures to end this month

Live 5 News WCSC

(WCSC) – Tens of thousands of people have not caught up on rent in South Carolina, meanwhile the federal ban on evictions and foreclosures is coming …

Real Property, Financial Services, & Title Insurance Update: Week Ending April 9, 2021

JD Supra

Foreclosure / Damages: Party seeking foreclosure failed to present competent, substantial evidence to prove the total amount owed on the note …

State Treasurer Launches Homeownership Initiative

Urban Milwaukee

… network to improve homeownership opportunities and prevent foreclosures. … fix home safety concerns and helping people avoid foreclosure.

NOTICE OF SALE UNDER POWER, DOUGHERTY COUNTY

The Albany Herald

… the Deed Under Power and other foreclosure documents may not be provided until final confirmation and audit of the status of the loan as provided …

The Week Ahead: Seeking Answers to the Issue of Affordability

The MReport

At the same time, millions of households that lost income are behind on their housing payments, nearing eviction or foreclosure, and a disproportionately …

STATE OF GEORGIA COUNTY OF DOUGHERTY NOTICE OF SALE UNDER POWER

The Albany Herald

… PLLC 10700 Abbotts Bridge Road Suite 170 Duluth, GA 30097 Phone: 470.321.7112 Firm File No. 21-052333 – AmE. Categories. Foreclosure. × …

Home equity grew by $2 trillion in the first quarter

WDJT

… homeowners who cannot catch up on their mortgage after forbearance will more readily be able to sell their home rather than losing it to foreclosure.

Nationwide Homeowner Equity Gains Hit $1.9 Trillion in Q1 2021, CoreLogic Reports – StreetInsider.com

Full Coverage

City Celebrates National Homeownership Month

charlottenc.gov

The city offers several housing counseling services, including financial literacy, pre-homeownership counseling, and foreclosure prevention.

Warranty claim foreclosed by provision in contract

Virginia Lawyers Weekly

Where a DuPont facility continued using allegedly defective natural gas-fired burners after discovery of the defect, that foreclosed its breach of …

Michigan Radio’s Sarah Cwiek wins McCree Advancement of Justice Award

Michigan Radio

The story shows how citizens, especially those at risk of foreclosure, don’t understand how the process works and how easy it can be to lose their …

Look inside last house Fotis Dulos built that’s up for auction

New Haven Register

It was one of several properties owned by Fotis Dulos and his high-end real estate development company, Fore Group, that went into foreclosure as …

Cleveland neighborhood landmark Sterle’s may be bought by Famicos Foundation

Crain’s Cleveland Business

Famicos Foundation has acquired a loan from Huntington National Bank to step into the foreclosure case over the former Sterle’s restaurant and its …

Program helping people with rental assistance as eviction moratorium expiration date looms

wtkr.com

… families that lost their homes during the foreclosure crisis,” said Diane Yentel, President and CEO of the National Low Income Housing Coalition.

Watch: NCLA Video Shows the Housing Providers Hurt by CDC’s Unlawful Eviction Moratorium

StreetInsider.com

And once that property goes into foreclosure, the bank is allowed to foreclose on the mortgage and evict the tenant. The CDC order doesn’t actually …

Bend median home sales price drops from record in May, while Redmond rises to new record

KTVZ

The impending termination of the foreclosure moratorium raises questions as to how the market will be impacted if/when the moratorium comes to an …

Opinion: Queens has a housing crisis. Here’s how the next mayor can address it

Queens Daily Eagle

And robust foreclosure prevention programs will ensure that our neighbors do not lose the homes they’ve worked so hard to purchase. Additionally, it is …

Atlanta 90-day mortgage delinquencies among highest in US since start of pandemic

Atlanta Business Chronicle

One silver lining for those unable to resume mortgage payments is that in many cases foreclosure may be avoided. As prices continue to increase, so …

CFPB’s NOE rule at issue in Ohio lawsuit

RESPA News

An Ohio man sued his servicer for allegedly initiating foreclosure proceedings after failing to properly respond to his notice of error (NOE) after he …

Public Notices — June 10, 2021

Pagosa Springs Sun

This is an in rem action of judicial foreclosure on your timeshare interest(s) located at Village Pointe Condominiums for failure to pay assessments to …

With potential eviction crisis looming, Atlanta organization equips tenants to fight back

11Alive.com WXIA

Small property owners found themselves at greater risk of foreclosure and bankruptcy as a result. Matt Westmoreland, an Atlanta city councilman, said …

Suing landlords could be easier under bill

Evening Observer

Earlier this year, the legislature passed the COVID-19 Emergency Eviction and Foreclosure Prevention Act extending the state’s moratorium on …

VIEWPOINT: Together we can do more to meet statewide housing needs

Delaware Business Times

Our foreclosure prevention counselors aided 49 families in applying for Delaware mortgage assistance. In addition, NCALL’s Loan Fund offered 90-day …

Middletown dry-cleaner ties business problems to chemical spills

Westfair Online

Hintons5 defaulted on the mortgage, and Dlugatz Clams filed a foreclosure action in Orange County Supreme Court, demanding $636,652 from …

Dayton’s Project developer accuses lender of ‘loan to own’ scheme

Minneapolis / St. Paul Business Journal

A civil suit filed Wednesday in Hennepin County District Court requests an injunction to prevent Monarch using foreclosure to take over 601W Cos.

Fotis Dulos-Built New Canaan Home Up For Auction: Report

Patch.com

The Sturbridge Hill Road house is under foreclosure by the Savings Bank of Danbury, and the auction is scheduled for noon on the 26th (viewings start …

Today’s Real Estate Market – Why This Is Not Like 2008 Again

Islander News.com

“In 2008 the government saw the foreclosure meltdown as a top-down … to help flailing homeowners, millions of whom lost their homes to foreclosures …

Office for the Aging Sponsoring Free Legal and Financial Check Up on June 30th at Noon

Allegany County

… tax foreclosure, Questions regarding open enrollment for Medicaid & Medicare, Reviewing medical bills, and Financial exploitation and elder abuse.

Fitch Affirms Benchmark 2018-B5 Mortgage Trust

Fitch Ratings

The lender filed for foreclosure in federal court in March 2020 and the servicer’s counsel is in the process of assigning a receiver. Per the servicer, the …

Pakistan’s housing market is leading the economy: What has changed?

Global Village space

Foreclosure laws When the PTI government came into power with its prom ise … by banks had been their inability to pursue non-judicial foreclosures.

We Ventured Down Into the Las Vegas Underground House—Who Might Buy This Place?

Realtor.com News

After changing hands several times over the years, the property was rescued from foreclosure in 2015, for just $1.15 million. In 2019, it landed on the …

Clark County Common Pleas Court cases

Springfield News Sun

… of Garrett Berry Jr., John Doe Unknown Occupant/Tenant, PNC Bank National Association, Successor By Merger To National City Bank, foreclosure.

The rule allowing predatory loans from fake lenders must go now

The Hill

Restaurant owners that are fighting a 268 percent APR loan secured by property now in foreclosure are being met with the argument that the rule …

The time is now to help influence the future of mid-Roaring Fork Valley

Aspen Times

… didn’t attract much attention or interest because many people were scrambling to find or retain work as well as avoid foreclosure of their houses.

Fourth of July parade to be held in Marquette

Marquette Mining Journal

… best way to help prevent foreclosure, but MSHDA also has resources to help homeowners, said MSHDA Homeownership Director Mary Townley.

Gov. Laura Kelly to seek emergency order extension, despite GOP throwing down gauntlet

Leavenworth Times

More:Kansas lawmakers agree to extend COVID-19 emergency — but end eviction, foreclosure ban. Emergency declaration to continue orders, …

In the courts:

The Review

Thomas and Lynn Hissam, et al., foreclosure sought for alleged delinquent taxes for property on St. Clair Avenue, East Liverpool. County Treasurer vs.

How’s the market? Title insurance is a worthy investment: Part II

Reverb MSN Music

When the couple’s house went into foreclosure, the husband was awfully surprised to see his signature in his wife’s handwriting encumbering the …

Endorsement: Shirley Paul for District 46

Haitian Times

It includes a concrete plan to address the pressing issue of foreclosure. Her idea for a basement conversion plan, if implemented, would help …

Public Notices

Columbia Star

To be considered for any available Foreclosure Intervention, you may communicate with and otherwise deal with the Plaintiff through its law firm, …

Las Vegas Real Estate Market

Benzinga

Las Vegas Foreclosures. Las Vegas Foreclosure Rate: 0.4%. National Average: 0.3%. Foreclosure trends in Las Vegas are similar to the national …

WEB

The Mortgage Foreclosure Process in 5 Steps | Millionacres

Millionacres

Foreclosure can happen if you fall behind on your mortgage so you’ll need to talk with your lender ASAP. We’ve broken down the foreclosure process …

Important Changes to Virginia Foreclosure Law – Legal Blog

Woods Rogers PLC

Virginia House Bill 2175 makes dramatic changes to Virginia foreclosure law, including the procedure for conducting foreclosure sales in Virginia.

Chapter 88 Foreclosure of Mortgages and Other Liens

OregonLaws – Public.Law

Title 9, Mortgages and liens; Chapter 88, Foreclosure of Mortgages and Other Liens. Refreshed: 2021-06-08.

Actions – HR2458 – 117th Congress (2021-2022): Non-Judicial Foreclosure Debt Collection …

Congress.gov

Actions on H.R.2458 – 117th Congress (2021-2022): Non-Judicial Foreclosure Debt Collection Clarification Act.

Pinellas Court Auction Calendar

Pinellas County Foreclosure Auctions

bank foreclosure in dekalb county, ga

abrapsbrasil.com.br

We provide nationwide foreclosure listings of pre foreclosures, foreclosed homes , short sales, bank owned homes and sheriff sales. Search for Dekalb …

Filing Chapter 13 Bankruptcy to Save Your Home from Foreclosure

The James D Ealley Law Firm

Chapter 7 and Chapter 13 Bankruptcy. Free Bankruptcy Consultation. Stop Foreclosure, Repossession, Garnishment. Get out of Credit Card, Medical, …

Mortgage Relief Project

bensenville.il.us

The Mortgage Relief Project, which is part of the Illinois Foreclosure Prevention Network established by Governor Pat Quinn, can help you take …

1068 North Benoist Farms Road FL 33411 – Foreclosure

PBC Home Auctions

Bid now for 1068 North Benoist Farms Road at the Foreclosure Auction! Browse our huge list of foreclosed properties to find your next home in Palm …

Tenant options when landlord is in foreclosure or bankruptcy

Legal Issues Taxonomy

This category covers what a tenant can do when their landlord’s property is in foreclosure, or if their landlord is in the bankruptcy process. It covers …

Foreclosure 释义| 柯林斯英语词典

Collins Dictionary

Foreclosure is when someone who has lent money to a person or organization so that they can buy property takes possession of the property because …

Bid4Assets.com > Auction Detail > (925749) NOTICE OF SALE: Foreclosure Auction for 135 FLAX …

Bid4Assets.com

NOTICE OF SALE: Foreclosure Auction for 135 FLAX HILL RD 17B, NORWALK, CT 06854. Seller Name: Bid4Assets. Rating: Not Applicable.

Foreclosure Appearance Answer Additional Defendant Signatures 030818

Illinois Courts

735 ILCS §5/2-605(a) requires that if the. Complaint/Petition is verified by oath that the Answer must also be verified. 735 ILCS §5/2-610(b) requires …

Construction and Lien Law

Kravitz | Schnitzer | Johnson

Our team can help you mediate a foreclosure case to avoid the litigation process. Call our team today at (702) 362-6666 to learn more about this …

New law will help you delay mortgage payments and prevent foreclosure | Financial Service Network

Financial Service Network

A moratorium on foreclosures; Mortgage Forbearance. Connected: Special financial protection against foreclosure, eviction and repossession for …

Appraisal services for REO properties – Mountain High Appraisals, LLC

Mountain High Appraisals, LLC

Getting a bank owned, REO or foreclosure property appraisal. Mountain High Appraisals, LLC, Denver, CO.

Magistrate Recommends Judgment for Taxes, Lien Foreclosure

Tax Notes

… foreclosure of tax liens on his property, finding that the individual failed to respond or otherwise appear, and the government has shown evidence of.

20 times square foreclosure

Design Pitch Deck

Rich Square, NC foreclosure listings. Meanwhile, you kill the two cows because the Feng Shui is bad. If so, that is some high end profitability. QE from …

MH – Silver Pointe Foreclosures For Sale June 10th 1:15am

RE/MAX Real Estate Central

Information on foreclosure homes for sale, bank owned, acreages, Lake homes bank foreclosures, New construction. New MH – Silver Pointe Open …

biggerpockets foreclosure book

STIT Buntet Pesantren

Foreclosure listings in every state and every status from start to finish, with new foreclosed homes for sale updated daily throughout the U.S. We are the …

HUD incommunicado about dead Villager’s home in foreclosure – News Break

News Break

The U.S. Department of Housing and Urban Affairs has been incommunicado about a dead Villager’s home in foreclosure and descending into a …

Fremont ohio homes for sale

matkosro.sk

Fremont OH foreclosure listings. Price 130 000 Single Family Nearby homes for sale Fremont has 27 commercial real estate spaces for lease …

Sheriff-sale DIVINE DR Las Vegas NV 89128

ForeclosureListings.com

Foreclosure Property Details. Bedrooms: 3. Bathrooms: 3. Style: Condo/Townhome. Sqft: 1,330. Age of the building: 1994. Contact Information.

Mortgage Fraud

Daily update ⋅ June 11, 2021

Former area mortgage broker charged in $1 million scam

Business Observer

FORT MYERS — Former Lee County mortgage broker Thomas Errico has been charged with fraud for his role in a mortgage loan modification and …

Former regional mortgage broker charged with $ 1 million fraud | Business Observer

Florida News Times

Fort Myers — Former Lee County Mortgage Broker Thomas Jericho has been charged with fraudulent charges against his role in mortgage loan …

Man accused of swindling the vulnerable out of their homes sentenced to eight years in prison

Washington Post

A Prince George’s County judge sentenced a man convicted last month of mortgage fraud to eight years in prison on Friday, saying in a blistering …

Will New York Law Trump the Manhattan DA?

Law.com

Thus the mortgage fraud statute is directed at fraud committed in connection with home mortgages for individual home buyers. President Trump was not …

The secrets an international cocaine dealer is taking to prison with him – and the 6am moment his …

Manchester Evening News

Detectives said investigations into Sheibani began with claims of mortgage fraud and money laundering. They discovered that he had lied about his …

Manhattan DA Hopefuls Balance Crime Rise, Social Justice Calls

Bloomberg

Vance has been investigating Trump for possible bank and mortgage fraud and is expected to decide whether or not to bring charges before he leaves …

A former hospital COO and former county detective in Butler County was sentenced to …

Pennsylvania News Today

… pleaed one fake income tax return and one fake mortgage application to the bank. … He investigated financial crimes, including: Theft and fraud.

Former Area Mortgage Broker Charged With $ 1 Million Scam | Business observer

BollyInside

Authorities allege Errico told his victims he could “find fraud” in their mortgage loans, which would enable him to demand loan modifications or …

Feds say Patrick Daley Thompson lied, claimed he made payments on loans from failed Bridgeport …

Chicago Sun-Times

Prosecutors have previously said three people already charged with fraud at the … Thompson is charged with five counts of filing false tax returns and two … forms to Thompson that falsely accounted for mortgage interest payments, …

NYC Mayor Is Undecided; Adams Defends Fridge: Election Update

Bloomberg

… president Donald Trump for possible bank and mortgage fraud and is expected to decide whether or not to bring charges before he leaves office.

Today’s Mortgage Refinance Rates — June 10, 2021: Rates Down for Most Loans

Nasdaq

… (or machine learning algorithms), streamline its data analytics, make its cybersecurity more efficient, detect fraud, or even combat money laundering.

Crypto Exchange CEO Tells Bubbleheads: Don’t Bet Rent Money On Bitcoin But It Will Be Worth A …

Moguldom

We’ve been a smugglers’ paradise, the epicenter of the cocaine trade, a mecca for money laundering, ground zero for mortgage fraud … We worry …

Five Individuals, Including Airline Workers, Accused of COVID-19 Relief Fraud in NY – NBC New …

News Chant USA

… that in addition to creating the false statements the defendants didn’t use the funds for any business functions as required by the mortgage program.

Mortgage Relief Benefit Of $3252/Yr For Homeowners

Patch.com

A New Mortgage Stimulus Program is giving $3,252/yr back to Homeowners. Check Your Eligibility to see if you qualify for this Mortgage Relief benefit.

Tips to protect yourself from financial fraud

canadianimmigrant.ca

Tips to protect yourself from financial fraud … Data collected from the BBB Scam Tracker suggests that Canadians who are under financial strain … for things like debt relief, credit and loan offers, or mortgage assistance, walk away.

Drayton Valley RCMP Weekly Report: June 3-9

rdnewsnow.com

8:59 a.m. – Brazeau County – Violet Grove area – Complainant reported a fraud involving a mortgage. Under investigation. 9:17 a.m. – Drayton Valley …

Mortgage Application Fraud Market Global Analysis 2021-2028: FraudGuard, CoreLogic …

Clark County Blog

Mortgage Application Fraud Market Global Analysis 2021-2028: FraudGuard, CoreLogic, LexisNexis, Fannie Mae and Many More. · Introduction and …

Mortgage Application Fraud Market Global Analysis 2021-2028: FraudGuard, CoreLogic …

Miner News

A research study conducted on the global Mortgage Application Fraud market offers substantial information about market size and estimation, market …

One lakh demanded for buying mortgage beneath High Minister’s Employment Ensure Scheme …

TheNewsTrace

Additionally Learn – Sure Financial institution Fraud Case: CBI registers case towards Avanta Truth, Gautam Thapar in Sure Financial institution fraud …

WEB

CBI books Avantha Group promoter over Yes Bank ‘fraud‘ – The Media Coffee

The Media Coffee

The CBI has registered a case of dishonest and prison conspiracy towards Avantha Group and its promoter Gautam Thapar for an alleged mortgage …

LIST OF FORECLOSURE LAWS BY STATE

Get In Touch

Location

111 W Washington Street,
Chicago, IL 60602

Email

info@fraudstoppers.org

Hours: CST

Mon: 10am - 5pm
Tue: 10am - 5pm
Wed: 10am - 5pm
Thur: 10am - 5pm
Fri: 10am - 5pm
Sat: Closed
Sun: Closed

Send A Message

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.