Two days ago in the case of Obudskey v McCarthy and Holthus LLP the  Supreme Court of the United States (SCOTUS) heard oral argument on issues relating to the application of the Federal Debt Collection Procedures Act (FDCPA).

The argument for including the law firm pursuing foreclosure was presented by DANIEL L. GEYSER, Esq. in a case that started in Texas.

In the course of reading the oral argument and comments by the court it is clear that everyone is struggling with defining the roles of each of the players in foreclosure.  The fact that such a struggle exists is a testament to the credibility of arguments raised by homeowners that claimants are misrepresenting their roles and capacity to pursue foreclosure or at least on dubious ground for claiming any rights in relation to the subject debt. While the SCOTUS ruling could go any number of ways, the fact that…

Yesterday’s article was about a paradigm shift at the Florida Supreme Court that flipped, for the most part, law that prevented homeowners from being granted attorney fees when they won their foreclosure cases.

Today (hat tip to Greg Da Goose) I received an article published by Burr Forman (bank lawyers) that admitted that the ruling was surprising and also projected that the ruling could have far reaching implications under various proceedings and laws.

seehttp://www.burr.com/2019/01/07/blogs/consumer-finance-litigation/Florida-Supreme-Court-Reverses-Fourth-DCA-on-No-Standing-No-Fees

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Let us help you plan for trial and draft your foreclosure defense strategy, discovery requests and defense narrative: 202-838-6345. Ask for a Consult or check us out on www.lendinglies.com.

I provide advice and consultation to many people and lawyers so they can spot the key required elements of a scam — in and out of court. If you have a deal you want skimmed for red flags order the Consult and fill out…

Eric Kandell is making his pitch to veterans. Wearing a red T-shirt, with the words “Low VA Rates” emblazoned across his chest, he looks fit and muscular, as if he had stepped off an Army base himself. In this YouTube video and others, he tells current and former service members how they can take tens of thousands of dollars in cash out of their homes. They can pay off credit cards, remodel a kitchen, install a swimming pool, or travel to Las Vegas. “Do whatever you want,” he tells them. “Imagine your home is like an ATM.”

Kandell is targeting borrowers from the U.S. Department of Veterans Affairs mortgage program. He’s the 43-year-old president of a company whose very name is a come-on: Low VA Rates LLC. It’s among the lesser-known financial outfits dominating the business of selling cash-out VA mortgage refinancing, which totaled $41 billion worth of new loans over…

see NLRG Defending Student Loan Claims

First let me say there ARE differences. But mostly you are dealing with the same or similar issues. Who actually made the loan? Who actually owns the debt? Do they have the paperwork or are they faking it? Can it be discharged in bankruptcy?

http://www.nlrg.com/legal-content/the-lawletter/contracts-investigating-and-defending-against-student-loan-claims

One lawyer wrote in to me saying that, like the mortgage cases, the opposition can’t produce the note. Despite protestations to the contrary, this is highly indicative that the loans were sold into the secondary market and then claimed as assets of a trust that most likely did not exist, had no beneficiaries, no trustee (with powers of a trustee), and had no trustor or settlor. The contributing lawyer stated that so far he has not lost a single case.

My personal take on this is that borrowers who receive this form for “forgiveness of debt” should probably send a letter or form of contest to the IRS stating the objection to the filing of the 1099-C. The objection or contest should state, in most cases, that this has been filed by a party who had no right, title or interest in the loan and that the form is not indicative of any final resolution of the debt, which is owned by third parties unrelated to the filer.

One of  my favorite legal research firms just published a short blurb on the subject:

The Lawletter Vol 43 No 7 Charlene Hicks—Senior Attorney, National Legal Research Group

To date, no consensus has been reached among courts throughout the United States on the question as to whether a creditor’s issuance of an IRS Form 1099-C results in the extinguishment of the reported…

By Sydney Sullivan

This will be one of several posts on the future of Fannie Mae and Freddie Mac. Your thoughts and your owns stories are welcome in the comments section.

Nearly a decade ago, in September 2008, US Treasury Chief Hank Paulson unveiled his historic government takeover of twin mortgage buyers, putting the government in charge of the mortgage giants and the $5 trillion in home loans they back. The plan eliminated the top executives which were out and replaced with Wall Street titans.

The House Oversight and Government Reform Committee held a hearing on the financial collapse of Fannie Mae and Freddie Mac, their takeover by the federal government and their role in the financial crisis. The video below is a 4 hour review of a planned response to the crisis in the housing and mortgage markets at the time of the economic meltdown and crash of 2008.

The…

For those who like what I write but have doubts about what I am saying consider this article that is based upon truth and nothing but the truth.

According to a Rolling Stone article published in 2015 by Matt Taibbi, “one of America’s ugliest secrets is that our own whistleblowers often don’t do so well after the headlines fade and cameras recede. The ones who don’t end up in jail… often…go through years of harassment and financial hardship.”

One of those whistleblowers still fighting to receive justice against unlawful retaliation and financial penalization is Michael Winston. Called by Salon Magazine “The Man Who Knows Too Much…”, he lost nearly everything after trying to tell the truth about Countrywide Financial Corporation (CFC).

See the Biography of Michael Winston

HISTORY

Remember: “First come, first served”
Like the Billionaires dumping stocks – get it out of the banks now and invest in something tangible. Plant a garden, put solar on your roof – you may not want to leave those 401ks and mutual funds just sitting there because they may not be there when you need them most. [Ed. DeadlyClear]

By Ellen Brown, Web of Debt | News Analysis | Friday, 22 March 2013 | Click here for original Truth-out post.

If these worries become really serious, . . . [s]mall savers will take their money out of banks and resort to household safes and a shotgun. – Martin Hutchinson on the attempted EU raid on deposits in Cyprus banks (Photo: Loz Pycock / Flickr)