United States District Court, E.D. California.
GENET HABTEMARIAM, Plaintiff,
VIDA CAPITAL GROUP, LLC; US MORTGAGE RESOLUTION; PNC BANK, NATIONAL ASSOCIATION; and DOES 1 to 50, inclusive, Defendants.
Some three years later, PNC notified Plaintiff by mail that its SDOT was discharged, apparently due to a settlement agreement PNC had reached with various agencies of the United States government. PNC effectuated that cancellation by sending a 1099-C form approved by the Internal Revenue Service for cancelling a debt. Plaintiff received the Form 1099-C on or about June 29, 2010. According to Plaintiff, because the 1099-C cancelled the amount she owed on the second mortgage, she believed it legally released her from any further obligation to pay Continue reading →
The forum is a daylong event where leaders in both servicing and federal government come together to engage in honest and open dialogue about the industry’s most pressing issues and challenges affecting both your business and the entire housing economy… Without a single homeowner representative on the Agenda. Continue reading →
The failure of the U.S. government to prosecute those who were the masterminds behind the NTMs (nontraditional mortgages) and subprime loan debacle, that more likely appear to have been an intentional Ponzi-like scam, makes Eminent Domain a plausible solution for relief. If handled properly Eminent Domain may actually save homes and families – not to mention saving lives and local governments that foolishly invested in unregulated and rigged derivatives and securities.
Do the math. Hypothetical figure (conservative): $900 month payments X 67 million MERS mortgages X 12 months (1 yr.) = $723,600,000,000 new revenue stream annually – and this figure is conservative… it’s likely 2-3 times higher and this is JUST MERS. Continue reading →
Bailed Out Fannie and Freddie Are Repaying Taxpayers? Answer: FALSE
In a recent Committee on Financial Services report the truth comes out about government sponsored Fannie and Freddie that foreclosure defense experts and “MERS Blur” researchers realized long ago… There is no way Fannie and Freddie can ever repay the bailout debt; and, they were at the helm of the mortgage Ponzi-like scam to the detriment of the American public.