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27 More Foreclosures Dismissed
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Anonymous Coward
User ID: 286963
11/16/2007 10:21 PM
Report abusive post | |
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Anonymous Coward
User ID: 286963 (OP)
11/16/2007 10:31 PM | | Re: 27 More Foreclosures Dismissed | Quote |
So, if they can't foreclose, and they can't evict, the home "owner" would stay in the house forever without making another payment it seems to me.
And the mortgage company that was paying the taxes and insurance out of the payment money would quit paying both the property taxes and the insurance.
Therefore, both the government in which the house was located would lose all tax based revenue, but the "group" of mortgage "owners" would never collect a dime of the money owed them.
This would spread like a cancer across the entire US as home "owners" would assume they can live in the house forever and never make another payment. Human nature and greed being what it is, most home "owners" would quit making payments.
Now, that frees up lots of money to keep the consumer going, but it freezes up the movement of money IMO as no one trust anyone, especially the courts.
Looks like total and complete financial Armageddon to me. |
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^TrInItY^  
Forum Administrator
11/16/2007 10:32 PM
 | | Re: 27 More Foreclosures Dismissed | Quote |
Few will listen,
Of the few who listen, fewer still will understand,
Understanding does not mean believe,
Of the handful who believe, most may not know what to do,
Those who even know, how many will actually do ?
And the rare ones who have done it.......
Need not listen to you anymore.
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Anonymous Coward
User ID: 284299
11/16/2007 10:35 PM | |
Jos
User ID: 279542
11/16/2007 10:44 PM | | Re: 27 More Foreclosures Dismissed | Quote |
Why not just borrow 200 thou, by a house, take out a reverse mortgage and let the reverse mortgage payments pay
the monthly loan payment, and live in the house, and pay
nothing, forever. |
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Anonymous Coward
User ID: 286963 (OP)
11/16/2007 10:45 PM | | Re: 27 More Foreclosures Dismissed | Quote |
Free lunch - found at last! |
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Anonymous Coward
User ID: 327455
11/16/2007 10:56 PM | | Re: 27 More Foreclosures Dismissed | Quote |
Lets watch the Thomas House,
I woudl bet $100 they will amend / intro a new bill just for this. |
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Anonymous Coward
User ID: 252993
11/16/2007 10:59 PM | | Re: 27 More Foreclosures Dismissed | Quote |
Free lunch - found at last! Quoting: Anonymous Coward 286963
Depends on where you are eating.
The Big Boys have been getting their's free since - oh, 1913... |
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Anonymous Coward
User ID: 284299
11/16/2007 11:31 PM | | Re: 27 More Foreclosures Dismissed | Quote |
Lets watch the Thomas House,
I woudl bet $100 they will amend / intro a new bill just for this. Quoting: Anonymous Coward 327455
Any laws passed only affect the future, not anything already done. |
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Anonymous Coward
User ID: 289164
11/16/2007 11:39 PM | | Re: 27 More Foreclosures Dismissed | Quote |
When you get a mortgage, do you not give them the deed to the property? And when you pay off a mortgage, do you not get the deed back?
Where are the deeds to these properties? |
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Anonymous Coward
User ID: 318005
11/16/2007 11:41 PM | | Re: 27 More Foreclosures Dismissed | Quote |
 I liked the link Trinity. I especially liked the gaurentee if you ever have to use it. Not sure what the link was doing on this thread however? |
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if
User ID: 308374
11/16/2007 11:53 PM | | Re: 27 More Foreclosures Dismissed | Quote |
there are still American judges willing to do this and put themselves on the line applaud them,
they know or have realized the set up as I did years ago,
good for them,
let them rest easy and peacefully at night, |
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all world ac
User ID: 277489
11/17/2007 12:01 AM | | Re: 27 More Foreclosures Dismissed | Quote |
what will the Chinese and the other foreign investors do
when they realize their hundred million dollar
loan packages are worthless?
are these guys connected?
will they come to your home and want their money?
maybe we need to learn some kung fu.
i look good in black. |
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Anonymous Coward
User ID: 326217
11/17/2007 12:08 AM | | Re: 27 More Foreclosures Dismissed | Quote |
Quoting: Anonymous Coward 286963
Maybe if you READ that document, instead of just GUESSING at what it said...
While each of the complaints for foreclosure pleads standing and jurisdiction, evidence
submitted either with the complaint or later in the case indicates that standing and/or subject
matter jurisdiction may not have existed at the time certain of the foreclosure complaints were
filed. Further, only one of these foreclosure complaints thus far was filed in compliance with this
Court’s General Order 07-03 captioned “Procedures for Foreclosure Actions Based On Diversity
Jurisdiction.
So ALL it means is that the bank hasn't shown proof that THEY hold the mortgage.
I have absolutely NO doubt they will quickly refile, WITH proof.
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Bean There
User ID: 327523
11/17/2007 12:39 AM | | Re: 27 More Foreclosures Dismissed | Quote |
From OPs cited link ;
“The Judicial Integrity of the United States Court is “Priceless” ( emphasis mine )
God of Mercy, I can’t stop laughing ! So it’s Judges to the rescue, huh ? Who gave those black robed priests the go ahead? |
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Anonymous Coward
User ID: 286963 (OP)
11/17/2007 1:10 AM | | Re: 27 More Foreclosures Dismissed | Quote |
From the Implode-O-Meter
The prior case is now being cited for the precedent it has set..
[ link to iamfacingforeclosure.com]
Maybe if you READ that document, instead of just GUESSING at what it said...
While each of the complaints for foreclosure pleads standing and jurisdiction, evidence
submitted either with the complaint or later in the case indicates that standing and/or subject
matter jurisdiction may not have existed at the time certain of the foreclosure complaints were
filed. Further, only one of these foreclosure complaints thus far was filed in compliance with this
Court’s General Order 07-03 captioned “Procedures for Foreclosure Actions Based On Diversity
Jurisdiction.
So ALL it means is that the bank hasn't shown proof that THEY hold the mortgage.
I have absolutely NO doubt they will quickly refile, WITH proof.
I agree as the op there are holes in these arguments.
Property Tax liability will not be forgiven as the owner on record as it pertains to property tax will not be given a pass. This will be dtermined on a state-by-state basis pertaining to local laws. The burden lies in the banks and/or lenders as they navigate through the assignments of property transfer that were or were not assigned properly.
In these cases we are talking purely technical issues. These issues can be overcome but only at the expense of the lender/bank/CDO etc.
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Anonymous Coward
User ID: 284299
11/17/2007 1:11 AM | | Re: 27 More Foreclosures Dismissed | Quote |
I have absolutely NO doubt they will quickly refile, WITH proof.
. Quoting: Anonymous Coward 326217
Oh, you do, huh? Don't hold your breath. |
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Anonymous Coward
User ID: 284299
11/17/2007 1:13 AM | | Re: 27 More Foreclosures Dismissed | Quote |
If I were one these homeowners (?) who has a foreclosure thrown out, I would just pay the taxes. That's a WHOLE OTHER can of worms. |
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Hold the Phone
User ID: 310669
11/17/2007 1:16 AM
 | | Re: 27 More Foreclosures Dismissed | Quote |
Free lunch - found at last!
Depends on where you are eating.
The Big Boys have been getting their's free since - oh, 1913... Quoting: Anonymous Coward 252993
So true! |
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Mark In NYC
User ID: 325789
11/17/2007 1:57 AM | | Re: 27 More Foreclosures Dismissed | Quote |
I've been in touch with three different RE lawyers here in CA and they are thrilled about this.
The least this court decision is going to do is provide a way to stop foreclosures cold in their tracks. The homeowner cannot sell the property because the lien is still recorded against the title. So the house is in LIMBO. It cannot be foreclosed and it cannot be sold.
The real trick will be going back to the court and asking that the invalid lien now be removed from title. That means the borrower gets the house without a loan or a lien on it. And the mortgage bond holder looses.
Frankly when you see a couple (like I did yesterday) who make 30k per year each (combined household income is $60k) and some broker put them into some complicated "for investors only" kind of loan that offered payments on their new house of $1400 per month for the first two years. The the payment resets to "market rate" and it goes up to 5800 per month for the next 28 years.
The $5800 final payment is more than 100% of their monthly income. They were pushed into a house that cost them then nearly five hundred thousand dollars - some 9 times their annual gross income. And while one has a high school education the other has a GED. They were hardly "sophisticated real estate investors" by any stretch of the imagination. They just wanted a home in an area that they felt safe. In LA county that home cost them 1/2 million dollars. They didn't have a clue that their payments would go up to $5800 per month.
Some greedy and unethical mortgage broker pushed them into this loan and seduced them into buying this outrageously expensive (for them) house. And they worked hard and made their payments ontime for each and every month of the first twenty-four months.
Then they got screwed by the loan and the law.
Until this stuff came along. Now it's the lender and their wholesale greed that put the lender in the position of being the one being screwed and they don't like it.
I call it poetic justice!
Life really is a banquet - and truly - most poor sucker are starving! Enjoy the ride baby. |
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Anonymous Coward
User ID: 327551
11/17/2007 2:06 AM | | Re: 27 More Foreclosures Dismissed | Quote |
The only one's foreclosings are dinky ass niggaer and mexicant's
suck it and see |
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Anonymous Coward
User ID: 304500
11/17/2007 2:28 AM | | Re: 27 More Foreclosures Dismissed | Quote |
You can't write or spell and you are talking about African Americans and Mexican Americans like there is something wrong with them? WTF??? |
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Anonymous Coward
User ID: 286963 (OP)
11/17/2007 3:10 AM | | Re: 27 More Foreclosures Dismissed | Quote |
The only one's foreclosings are dinky ass niggaer and mexicant's
suck it and see Quoting: Anonymous Coward 327551
typical FOX News watching Hannity white supremacist loving Bush lover from Utah. |
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Anonymous Coward
User ID: 327588
11/17/2007 5:22 AM | | Re: 27 More Foreclosures Dismissed | Quote |
How wonderful, property owners are being defrauded on behalf of a bunch of welfare-ass demotards that haven't learned that you don't buy things you can't pay for. What a glorious day for Marxists and other demotards everywhere. |
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Anonymous Coward
User ID: 327639
11/17/2007 8:57 AM | | Re: 27 More Foreclosures Dismissed | Quote |
Ever hear that Possession was 9 tenths of the Law? Do you know what it means? It means if you have it in your possession and they can't get you out, you own it. Now the statute of limitations for Adverse passion should come in should come into play. |
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Anonymous Coward
User ID: 327639
11/17/2007 9:01 AM | | Re: 27 More Foreclosures Dismissed | Quote |
OH, and, I would surely like to get back my house that was foreclosed on in 1995. I almost won that one too. Bless these peoples souls. Good luck. |
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Anonymous Coward
User ID: 327642
11/17/2007 10:03 AM | | Re: 27 More Foreclosures Dismissed | Quote |
Why not just borrow 200 thou, by a house, take out a reverse mortgage and let the reverse mortgage payments pay
the monthly loan payment, and live in the house, and pay
nothing, forever. Quoting: Jos 279542
The amount of the reverse mortgage can only be equal of equity you have in it, so, if you just borrowed the 200k and you had a down payment of 10k, the most they would loan you would be 8k (80%). |
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King Neptune
User ID: 304696
11/17/2007 10:30 AM | | Re: 27 More Foreclosures Dismissed | Quote |
You have a gift save the ones you can. |
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Amazing
User ID: 326972
11/17/2007 11:15 AM | | Re: 27 More Foreclosures Dismissed | Quote |
Why is the homeowner suddenly the victim here? They knew when they signed the note on an adjustable rate mortgage that there was a chance the rate would increase, thereby inflating their payment. They were told all this, up front, the day they walked in the bank to buy an over priced, big house. Now that the chickens have come home to roost, and their payments have sky rocketed, it's the bank's fault. Classic example of today's society where no one is at fault for their own actions. |
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Anonymous Coward
User ID: 160240
11/17/2007 11:35 AM | | Re: 27 More Foreclosures Dismissed | Quote |
Why not just borrow 200 thou, by a house, take out a reverse mortgage and let the reverse mortgage payments pay
the monthly loan payment, and live in the house, and pay
nothing, forever.
You and your spouse both have to be over 62 for a reverse mortgage. No exceptions. |
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Anonymous Coward
User ID: 327743
11/17/2007 2:14 PM | | Re: 27 More Foreclosures Dismissed | Quote |
Forever ! |
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