Daily Archives: September 2, 2012



So, if you owe the bank $300,000 on a house that sells for $200,000, you still owe the bank $100,000

You might think, in weeks and months to come, that the home foreclosure crisis is over. Actually, it’s just going behind closed doors.

We have a news story in the works, but that will take time and require painstaking compilation of confusing strands in a complex legal web. Meanwhile, in mid-September, most of the home foreclosure notices published in Oregon newspapers will disappear, leaving the impression that our housing crisis has eased.

Not so. In fact, people with serious financial problems now risk losing much more than their houses.Foreclosures will be moved to the courts, where borrowers can be held accountable for the entire deficiency instead of just turning over keys to the front door.

It’s a change from “non-judicial” to “judicial” foreclosure proceedings.

First, without reciting all the legal details, a non-judicial foreclosure is handled by a trustee who holds the deed on behalf of a lender. The process requires newspaper notice of the foreclosure and a property sale at auction. The borrower my lose his or her house and credit rating, but nothing more.

A judicial foreclosure is handled by the courts, ending in a sale conducted by the county sheriff “on the courthouse steps.” Sheriff’s sales of property also have required newspaper notices in the past, but the Oregon Legislature decided instead to hide them on an obscure website.

Rest here…




Mortgage Registry (MERS) Muddles Foreclosures

MORE good news from the housing front last week. Pending home sales rose 2.4 percent in July, to their highest level since April 2010. Mortgage delinquency rates are down: the Federal Reserve Bank of New York reported a decline of 6.3 percent at the end of June from the March quarter.

Granted, new foreclosures continued to be filed — 256,000 people had a foreclosure added to their credit reports in the June quarter — but that figure was the lowest since mid-2007, the Fed said.

In stark contrast to this improving backdrop are the legal battles still being waged over wrongful foreclosure practices. The glacial progress in these cases is not surprising, given the crowded courts and combatants’ usual stalling tactics.

What is surprising is the fresh evidence these cases are turning up of cockeyed mortgage practices, during both the boom and the bust. As these matters are adjudicated, perhaps we will finally learn whether these practices were intended or accidental.

Read on.

IMPORTANT ! HOMEOWNERS THAT WERE LONG BEACH/ WAMU the allegedly CHASE! loans – wamu loans -jp morgan


Chase and Deutsche bank claiming WAMU loans across the U.S.  Read page 261

Q    (By Ms. Mack)  Right.
2       A    No, there is no assignments of mortgage.
3  There’s no allonges.  There’s no — in the thousands of
4  loans that I have come in contact with that were a part
5  of this purchase, I’ve never once seen an assignment of
6  mortgage.  There is simply not — they don’t exist.  Or
7 allonges or anything transferring ownership from WAMU to
8  Chase, in other words.  Specifically, endorsements and
9  things like that.
10       Q    This would be actually specifically through
11  the FDIC and would contain the language that is in 3.3.
12       A    No.
13            MS. CREWS:  Object to form.
14       A    I haven’t seen the document.
15            MS. MACK:  Well, I’m clarifying this and
16       talking about certain documents.
17       Q    (By Ms. Mack)  So you just don’t — you don’t
18  think that is something that was performed —
19            MS. CREWS:  Object to form.
20       Q    (By Ms. Mack)  — as far as transferring the
21  properties in the manner indicated in the purchase and
22  assumption agreement?
23            MS. CREWS:  Object to form.
24 A Again, I — I don’t know of any requirement or
25  process that was followed regarding the language in this
1  paragraph; that whatever — that basically produced or
2  basically caused to affect new or certain documents
3  being added to those WAMU loans.

What?!? Did Attorney James Goldberg of Bryan Cave Assault a Family During a Bank of America Foreclosure Deposition?

San Francisco, CA (PRWEB) August 31, 2012

According to Americans United Against Fraud, an advocacy group for home owners, in court papers filed with the California Superior Court by Plaintiffs David and Salma Merritt; Bank of America attorneys from Bryan Cave, is alleged to have assaulted Plaintiffs sister and 84 year old father before being physically “restrained and pinned to the conference table,” until the lawyer calmed down.

Americans United Against Fraud (AUAF) Executive Director Christopher Espanola, reports that papers filed on August 29, 2012, in the California Court of Appeal’s case Merritt v. Bank of America et al., H038420 (6th District), reference pleadings and evidence filed in Santa Clara Superior Court case Merritt v. Mozilo et al., 109-CV-159993, alleging that Bank of America has been receiving judicial favors from judge James Stoelker.

Court records show that on August 17, and July 17, 2012, the Merritts filed a Motion for Protective Order along with declarations of witnesses, reporter transcript and DVD footage, asking the Court for protection from further alleged abuses by Bank of America and Countrywide Home Loans.

The Merritts allege in their court filings that on July 16, 2012, they arrived at a scheduled Bank of America deposition in San Jose with their video camera, 18-month old daughter, sister, father Ronald Merritt and Home Owner Advocate Porter E. Johnson. Upon their entering the room, Bank of America’s lawyer James Goldberg of Bryan Cave, launched into cursing and verbally attacking them with profanities and “Who the hell are these people?” And as Mr. Merritt introduced them, Goldberg is alleged to have yelled, “Oh no! Every one of you have to get out!–and what’s that? [Pointing to Mr. Merritt’s camera] you’re not doing any damn videotaping here, not on your life!”

The court records further alleges that Mr. Goldberg pushed Mr. Merritt, then his sister, and began assaulting their father before “David” grabbed then pinned Goldberg to the table saying, “Look Jim! Calm down…” over and over.

Rest here…

Read on.