Foreclosure Workshop #57: LCP-Maui vs. Tucker — What Every Homeowner Facing Foreclosure Needs To Know About Deficiency Judgments

Your Host: Attorney Gary Victor Dubin
with
Co-Host:  Former Hawaii Governor John D. Waihee 

In most States, as one of the most vicious aspects of the foreclosure system, if the auction sale price is not enough to pay off the balance of a loan, the lender or its collection agency assignee is entitled to a deficiency money judgment.

Deficiency collection can then consist of aggressively garnishing wages, seizing bank accounts, and foreclosing on a borrower’s other real property if any, forcing many borrowers into bankruptcy, further increasing the emotional trauma and financial loss due to being foreclosed on. Continue reading

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Non-Traditional Mortgages Appeal to Hawaii’s Highest Court

hear-yeeThis Sunday The Foreclosure Hour shared the appellate process with listeners to help them better understand the complexity of the court system.

Last month (September 2016) the Hawaii Supreme Court heard attorney Gary Dubin argue on behalf of a Ewa Beach, Hawaii resident who was sued for foreclosure by “U.S. Bank National Association, as Trustee, in trust for the registered holders of MASTR Asset Backed Securities Trust 2005-NC1, Mortgage Pass-Through Certificates, Series 2005-NC1,” a securitized REMIC trust.

The Plaintiff, like so many others, claimed (and the lower Circuit Court penned in the Findings of Fact) it “is now the Holder of the Note.” Of course, there were the usual series of “after-the-fact” robo-signed assignments trying to establish the right to enforce, and an allonge dated “after-the-fact” signed in blank. Even a witness who was basically a computer jockey viewing screen shots with no personal knowledge of who or how the data was entered.  But in this case, there is a bit of a twist which, it appears, the Justices were picking up on as they asked astute questions about the procedure and the original (now bankrupt and liquidated) lender, New Century Mortgage Corporation. Continue reading

DEFICIENCY JUDGMENTS – Is your Court a Collection Agency for Crooks? Class Action Filed in Hawaii.

final judgmentDeficiency judgments are another dark corner, if not the darkest corner in foreclosure. The Dubin Law Offices filed a Class Action Complaint in Hawaii United States District Court today [4/29/13] because of the injustice of deficiency judgments.

It’s not bad enough to lose your home to the banksters that fraudulently inflated your appraisal, filed fraudulent robo-signed fabricated documents in your state recordation offices and in court, rigged your LIBOR interest rate, lied, cheated and stole your home getting away with everything; but then they turn around and sell your home to themselves for half price and then sell it again for less than you owe to someone else. Lord (and DeMarco) only know, why they won’t sell it back to you for the lower price. But they don’t. Continue reading