bankruptcy
Fair Game – If the Lender Can’t Find the Mortgage
By GRETCHEN MORGENSON
Published: October 24, 2009
FOR decades, when troubled homeowners and banks battled over delinquent mortgages, it wasn’t a contest. Homes went into foreclosure, and lenders took control of the property.
On top of that, courts rubber-stamped the array of foreclosure charges that lenders heaped onto borrowers and took banks at their word when the lenders [...]
IN RE DARRELL ROYCE SHERIDAN, SHERRY ANN SHERIDAN, Chapter 7 Debtors.
Sheridan_decision
In this Chapter 7 case, the trustee, Ford Elsaesser (“Trustee”), objects to amotion under § 362(d) for relief from the § 362(a) automatic stay.1 Motions under § 362(d) are common in bankruptcy cases.2 Most stay relief requests proceed promptly to entry of an order, after proper notice, without any objection.
However, changes in mortgage practices over [...]
U.S. Bank v. Ibanez
“when a foreclosure is noticed and conducted for one party by another, the name of the principal must be disclosed in the notice”
“A mortgage is a contract. It is fundamental and basic that a party seeking to exercise a contractual right (here, the power of sale) has the contractual right to do so [...]
Read Full Post | Make a Comment ( None so far )Ruling by judges rattles mortgage industry
A bankruptcy judge here, joining judges across the country, is throwing a bit of sand in the gears of the mortgage machine and its ruthless foreclosure blade.
She has raised this issue: In many home foreclosures springing out of bankruptcy proceedings, the foreclosure is being triggered by a representative of the lender — a surrogate that [...]
LANDMARK NATIONAL BANK V. KESLER
No. 98,489
IN THE COURT OF APPEALS OF THE STATE OF KANSAS
LANDMARK NATIONAL BANK,
Plaintiff/Appellee,
v.
BOYD A. KESLER,
Appellee/Cross-Appellant,
MILLENNIA MORTGAGE CORP.,
Defendant,
MORTGAGE ELECTRONIC REGISTRATION
SYSTEMS, INC. AND SOVEREIGN BANK,
Appellants/Cross-Appellees,
and
DENNIS BRISTOW AND TONY WOYDZIAK,
Intervenors/Appellees.
SYLLABUS BY THE COURT
1. A party is not contingently necessary in a mortgage-foreclosure lawsuit when that party is called the mortgagee in a [...]
DEUTSCHE BANK NATIONAL TRUST COMPANY v. ROLANDO CAMPBELL, et al.
Deutsche Bank has some explaining to do. Why would they buy a nonperforming loan from MERS 142 days after a payment default?
The instant foreclosure application states that defendant CAMPBELL defaulted on his mortgage payments by failing to make his April 1, 2007 and subsequent monthly loan payments. Yet, on August 20, 2007, 142 days subsequent [...]
Why banks want you all alone when negotiating a loan modification
They are telling you to run away from loan modification companies who charge a fee. They are paying the politicians to introduce laws making it difficult for you to hire an attorney when negotiating a loan workout. They want you to contact them directly and without the assistance of an advocate. They are scaring you [...]
Read Full Post | Make a Comment ( None so far )Gerald Celente: Sub-Prime was Peanuts Compared to the Coming Commercial Real Estate Collapse
Gerald Celente appears on Fox Business News to talk more about the collapse of ‘09, where he predicts more civil unrest, collapse of commercial real estate and the retail sector, and the new credit crisis. (video follows excerpts and comments)
Who’s going to rent all this vacant retail space? This country’s been way overbuilt for a [...]
WHERE’S THE NOTE, WHO’S THE HOLDER
INTRODUCTION
In an era where a very large portion of mortgage obligations have been securitized, by assignment to a trust indenture trustee, with the resulting pool of assets being then sold as mortgage backed securities, foreclosure becomes an interesting exercise, particularly where judicial process is involved. We are all familiar with the securitization process. The [...]
Fight building over judges modifying mortgages
WASHINGTON (AP) — Most congressional Democrats say the quickest way to save homeowners like Troy Butler of Saginaw, Mich., is to let them declare bankruptcy and allow judges to dictate new mortgage terms (Loan Modification).
Easy, except the lenders that would absorb the pain — and lose control of any deals to ease the terms — [...]
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