Author Archives: admin

How We Got Here – The Process of Securitization

 It helps to have some background into how Mortgages used to work (like for the last two hundred years). 1)      A Bank would loan a homeowner money. 2)      The homeowner would sign a  promissory note (note or IOU) promising to … Continue reading

History - Or how we got here, MERS, The Players

Are Lenders Attorneys Calendar Challenged?

On March 9, 2011, the Second District Court of Appeals rendered its decision in Sandoro v HSBC Bank in favor of the Homeowner. Their decision is not the end of the case; they sent it back to the Trial Court … Continue reading

Foreclosure Fraud, Foreclosure Stories, Homeowner Wins Foreclosure Case, Mortgage Servicers

What to expect from a law firm defending your case.

If you decide to hire a law firm to defend your Mortgage Foreclosure, what should you expect? The primary goal of the defense should be: Get an agreement with the lender not to pursue a deficiency judgment Or if you … Continue reading

General Advice

“Destroy the loan docs!” Judges asked to approve mass shredding

It’s bad enough to lose loan paperwork worth a quarter-million dollars (or more!) Now some trustees for bankrupt lenders are asking federal judges to approve a massive, intentional destruction of the original loan papers. Why? Because it’s apparently just too … Continue reading

Foreclosure Stories, Overview

How Mortgages are supposed to be Transferred to a Securitization Trust

There is a growing amount of discussion these days about possible defects in foreclosure proceedings commenced by loan servicers.  A lot of this discussion concerns procedural matters, such as whether the correct steps are being taken to verify the accuracy … Continue reading

General Advice, History - Or how we got here, MERS, Mortgage Servicers, Overview, The Players

Massachusetts’ demand for Recording Fees and MERS’ Response

Commonwealth of Massachusetts  Southern Essex District Registry of Deeds Shetland Park 45 Congress Street Suite 4100 Salem, Massachusetts 01970  JOHN L. O’BRIEN, JR. Register of Deeds Phone: 978-542-1704 Fax: 978-542-1706 website:      NEWS FOR IMMEDIATE RELEASE Salem, MA … Continue reading

Foreclosure Stories, MERS, The Players

The Problem with Mortgage Assignments

During the roaring 2000’s, banks were in such a hurry to create mortgages and sell them on in the secondary market that they were careless with their paperwork; particularly with mortgage assignments.  When foreclosures started coming in, many of the … Continue reading

Foreclosure Defenses, Foreclosure Fraud, General Advice, History - Or how we got here, MERS

What is strategic default?

Not everyone even defines strategic default in the same way, but panelists were generally in agreement that it involves a borrower who has the ability to pay his or her mortgage but chooses not to. Often that decision is tied … Continue reading

Foreclosure Defenses, General Advice, Overview

Attorney General opens probe into eighth foreclosure firm

State investigators say Ben-Ezra & Katz presented false and misleading documents to judges Diane C. Lade, Sun Sentinel February 23, 2011 The Florida Attorney General has opened an investigation into Ben-Ezra & Katz, a Hollywood law firm that processes thousands … Continue reading

The Players

Just one Reason Nevada is #1 in Foreclosures

We’ve all read the stories about Nevada having the highest rate of foreclosures in the US. Here’s one example of why that’s so. The Nevada legislature passed a law to reduce foreclosures.  They required all foreclosures to go through Mediation … Continue reading

Foreclosure Stories