Welcome to Freddie and Fannie’s Mortgage Shell Game

By Shawn Timothy Newman, J.D.
Adjunct Professor
Saint Martin’s University

Wheres-the-NoteIn common parlance, a mortgage (or Deed of Trust) includes the underlying loan (promissory note) and the security on that loan (mortgage or Deed of Trust). This ignores the fact that the note and mortgage (or DOT) are two separate contracts governed by some different laws and legal principals.

As noted in Powell on Real Property, sec. 37.27 [2] (Michael Allan Wolf ed., LexisNexis Matthew Bender 2010)  Continue reading

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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

THE 3 STOOGES OF MERS – DISORDER IN THE COURT

MERS 3-STOOGESA landmark decision was made this week in Culhane v. Aurora in the United States Court of Appeals For the First Circuit without a complete set of facts set out before what  appears to be its clueless judges.

The case decision, an APPEAL FROM THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MASSACHUSETTS was to some degree based on the merits of standing answering the question: “Whether a mortgagor has standing to challenge the assignment of her mortgage — an assignment to which she is not a party and of which she is not a third-party beneficiary — is a matter of first impression for this court.” Continue reading