Hi Everyone,
I wanted to briefly use this week to mention the following. I know many of you are aware of how the system works. You are aware that notes signed at the closing are often destroyed and copies with our signature securitized/monetized and cashed in either before or after the closing. In many cases due to your account file being sold from one company to another, you have a good feeling that they may not even have your entire file.
Be aware you have a great advantage of knowledge over other people. But also you have to realize if you are going to file a motion or commence a lawsuit, you have to raise arguments supported by the facts.
If you assert fraud, you can't just file a motion saying the "industry cashes in notes, the never lent me money, etc." Based on your specific facts of what happened to you, you can raise the arguments of fraud, material non-disclosure of facts, etc, but they must be specific to your case. The idea is to get the matter before a judge, and when it comes to discovery and production of evidence...thats when they are in for trouble.
As always this is not legal advice but some food for thought. As always seek an attorney to assist you in legal matters.
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That post speaks to me! I did a complaint post foreclosure and the Judge dismissed the case during Discovery - lesson learned. Now that I am a Secured party Creditor I would like to do a Negative Averment against the Trustee and all involved - property is in Nevada. Do I go after the lenders and foreclosing parties directly or thru the court? How far back do I go...the original lender is being sued by GMAC for selling bad loans.
ReplyDeleteHi Guys here is a fun twist in thoughts. I want to a4v other peoples mortgages and or pay off their debt with the a 4 v. can I buy their debt from them and remite a notice for demand on original contracts. Is there a law that says I can not buy others debts from them personally and file a discharge notice on the debt I have purchased.
ReplyDeleteWhat type of motion or complaint can I file post foreclosure in order to make the lender prove they have the right to enforce the note? Harold mentioned something about making the lender prove by showing tax docs, 1099 OID and other documents during discovery.
ReplyDeleteHi Everyone,
ReplyDelete1) In terms of going after lenders/servicers, if you are filing a suit, you can name everyone. If you are doing a negative averment, you can take that approach as well.
If you are being foreclosed on and are on the defensive, you will have to deal with directly with the organizations suing you unless you file a counterclaim and bring in other lenders/servicers to the party.
2) You can buy debt from people. What was described is novation. Just be clear to people what you are doing including all terms in your contracts. Also be sure your A4V's are working since most people who did A4V are still waiting for results to happen.
3) You can file an order to show cause, motion to compel to force them to bring the note, mortgage and 1099 tax docs to court. Keep in mind you must be specific as to why in your case you have been a victim of fraud or material non-disclosure of these terms to you.
Is NOVATION available to us investors when the homeowner has already claimed Chapter-13 bankruptcy?
ReplyDeleteDo we need a Court Order to use an, "Equity Purchase Agreement," since no sale is taking place? Can Title still be placed into a NARS Land Trust even though it's already in Bankruptcy?
How can we protect our position as an Equity Partner if the homeowner has already filed their Chapter-13?
I am approaching this as a loan-modification for the homeowner, where I am the holder of a Note for 49% of the value of the property..