on Tue, 10/12/2010 - 20:52
#645019
Mako has a gift of cutting through bureaucratic crap and laying it down in layman's terms.
Really why would you pay when not a soul can legally force you to?
"material concession from the banking syndicate, in the form of systemic mortgage writedowns"
Hahaha, write downs, who would want a write down on their mortgage when there is NO party that is a holder in due course able to start a foreclosure action. Let me see, do you want a $1000 monthly payment or a $0 monthly payment?The statutory limitation starts the after the last payment is made
The problem is not robo-signers, nor is it missing Notes. The problem is there is no party with proper "standing" to start a foreclosure action. Only the holder in due course can start a foreclosure action.
"the elimination of trillions of private debt, however instead of Uncle Sam eating it all this time (via the GSEs), the banks would end up sharing some if not all of the pain."
All are going to feel the pain this time, the banks are not going to save you. The system will eventually just foldup.
For the homeowner, the solution stands by standing the wrongs of the loan servicer, which by default voids the foreclosure action, which subsequently moots the unlawful detainer action.
http://openjurist.org/961/f2d/459
A debt collector may not use any false, deceptive, or misleading representation or means in connection with the collection of any debt... say like claiming it is a substitute for trustee in a judicial foreclosure action.
Boy ole boy, the fun should start as soon as the bloodsucking tick who claims to be an Attorney enters a court to start foreclosure action or collect a "debt".
http://openjurist.org/445/f3d/152/goldman-v-f-cohen-05-2645-cv
"Upon our review of the record, we hold that a consumer debt collector's initiation of a lawsuit in state court seeking recovery of unpaid consumer debts is an "initial communication" within the meaning of the FDCPA"
OH shit, you mean all these lawyers are bloodsucking ticks? Sure looks like it Bob.
"This house is clean." - Pet Detective
