Dear Neil Garfield:
The problem you hinted at today with your LivingLies blog entry preoccupies my thoughts. The mortgagees must cram down the loans to present market value minus paid-in equity and refinance at 3% for 30 years. No other equitable solution exists in the lender-driven financial crisis. The mortgage industry operators, loan brokers, realtors, appraisers, etc., all conspired to cheat buyers/borrowers for residential real estate purchases and corresponding loans. They overvalued houses, doctored loan applications, and made predatory loans to people they knew could not repay. The Financial Crisis Inquiry Commission Report illustrates this clearly. So, courts can and should order cram-downs as EQUITABLE remedies for homeowners.
The foreclosure mess brought on by Docx, while containing many crimes by foreclosure mill attorneys, lenders, trustees, mortgagees, etc, has nothing to do with the cheating that underlies most single family home mortgages for the past 15 years.
YOU, Neil, should focus your attention on THAT reality – the fraudulent inducement guilt that lenders and their agents bear.
Because IF the note and mortgage have validity, NOTHING changes the fact that borrowers owe the money and must forfeit the house for not making payments. PERIOD. END OF SUBJECT. No matter what defects arise in the foreclosure, lender/assignee/holder can repair it and foreclose. That’s why virtually ALL foreclosures ultimately go through. And that’s why ALL foreclosure defenders commit malpractice for not seeking and finding the tortious conduct, contract breaches, and legal errors underlying the mortgage, and bringing THAT to the court with the FCIC Report to demand a rescission or cram-down.
I just cannot imagine why you, in spite of your knowledge about this, continue to harp on fighting foreclosures instead of fighting mortgages. You keep asking people to call you for “assistance with presenting a case for wrongful foreclosure.” You recommend bankruptcy by writing “Chapter 11 may be easier than you think.” But the Office of the Comptroller of the Currency (OCC) has declared bankruptcy to stave off foreclosure a mortgage rescue scam. Does that mean YOU are a scammer?
Do you actually take referral commissions for sending clueless, desperate foreclosure victims to your network of malpracticing foreclosure defense lawyers? Would you mind telling me exactly how many of your clients have gotten a cram-down, cash settlement, or their houses free and clear by fighting the foreclosure with your schemes?
Excuse me a moment while I conjecture: ZERO.
The foreclosure ALWAYS goes through to completion and the foreclosure defense client always loses the house. The methods of foreclosure defense have a miserable failing record. They leave the borrower owing a huge judgment lien derived from mounting interest, and plaintiff costs of recovery and legal fees, plus outrageous defense lawyer fees.
Only one approach will win the victim’s house free and clear or a cram-down refinance: a proper, professional, hilt-deep examination sword that finds the causes of action against the lender for fraud, torts, breaches, and errors underlying the mortgage. That and ONLY that will give the victim a win.
WHY? Because these borrowers became MORTGAGE VICTIMS before they became foreclosure victims. Mortgage victims can use the courts properly to redress their injury, and thereby undo the mortgage and obtain compensatory and punitive damages like this. Foreclosure victims cannot undo anything, and they always lose the house. And neither you nor your lawyer referral network will EVER change that stark reality.
Let me give this to you straight, Neil. Your lawyer network costs desperate mortgage victims $10,000 to $50,000 by defending an indefensible foreclosure. The client loses the house and owes a massive judgment lien that endures for 20 years. And your lawyer network never bothers spending money on a professional mortgage fraud examination.
Suppose a client comes to a lawyer asking for help regarding a lenders accusation that the client breached a contract. What SHOULD the lawyer do?
1. Charge the hapless client $30,000 to fight the errors in the lender’s foreclosure effort, and still lose the case? Or
2. Investigate the contract and related papers for causes of action against the lender, and get a cram-down and house free and clear for the client at lender expense?
Which of those makes most sense? Which of these constitutes the lawyer’s PRIMARY legal duty to the client? Does it not constitute a form of malpractice for the lawyer to FAIL to do #2 above? I think you know the answer to that simple question.
To any MORTGAGE VICTIMS who read this: I suggest you stay away from Neil Garfield. He’s a nice man and puts a lot of effort into his blog as an advertising gimmick. But he leads you to ZERO REMEDY, straight into forclosure finality where you will lose your house and end up owing a whopping judgment lien, or into a horrible loan modification leaving you owing double the value of your house and a whopping balloon.
Instead of going through that nightmare, CALL ME and arrange a MORTGAGE FRAUD EXAMINATION that can result in you getting your house free and clear like this mortgage victim did:
Quicken Loans on losing end of $3 million predatory lending verdict
WHEELING – An Ohio County judge has ruled against Quicken Loans in a $3 million predatory lending case.
Circuit Court Judge Arthur M. Recht concluded an eight-day trial that spanned 17 months by awarding punitive damages, attorney fees and costs to mother and daughter Wheeling residents Lourie Jefferson and Monique Brown.
The award of more than $2.1 million in punitive damages, along with attorney fees and costs, brought the total verdict in the case against Quicken Loans to more than $3 million.
Jefferson and Brown also had previously reached a settlement for a confidential amount with the loan appraiser.
If you want this kind of result, CALL ME. 727 669 5511
I’ll explain the mortgage fraud examination requirements and strategy in detail, and tell you what kind of legal assistance you need.
This Microsoft colortag contains my contact info for your smart phone: