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“the Banks, the courts and everyone else would scream “fraud!” if you tried to have your friend sign the closing papers rather than do it yourself. Yet that is what the Banks did at the closing of the loans and that is what they are doing in the foreclosures. There is no house underwater, because there is no mortgage. There is no valid foreclosure (unless there was a conventional, normal non-securitized loan), because there is no mortgage. If anyone wants to contest that simple inescapable fact, they must PLEAD and PROVE a case to the contrary, because the documents speak for themselves when compared with the actual path of the money in these transactions.” — Neil Garfield



EDITOR’S COMMENT: The rising number of homeowners who have fought back in foreclosures together with the rising number of homeowners who are challenging the rights of their servicers and looking to quiet title to their property has taken it’s toll and for the first time, the Media and the Banks are admitting it. New York leads the nation, for the moment, but the numbers are still understated by a wide margin. Many generations will come and go before the foreclosure mess and the title crisis is solved or resolved.  The only hope for change is in the rising the number of cases in which trial courts and appellate courts are deciding in favor of borrowers, hanging their hats on “the devil in the details” fact patterns that are now wrapped around the necks of the banks.

Remember the Banks, the courts and everyone else would scream “fraud!” if you tried to have your friend sign the closing papers rather than do it yourself. Yet that is what the Banks did at the closing of the loans and that is what they are doing in the foreclosures. There is no house underwater, because there is no mortgage. There is no valid foreclosure (unless there was a conventional, normal non-securitized loan), because there is no mortgage. If anyone wants to contest that simple inescapable fact, they must PLEAD and PROVE a case to the contrary, because the documents speak for themselves when compared with the actual path of the money in these transactions.

We have been telling you here that the Banks back off when confronted, but not before they draw some blood, because they don’t want to make it easy. They don’t want it to get around that when confronted with a credible threat from a homeowner, the Banks have no where to hide. They don’t have valid mortgage or encumbrance to enforce, the loan is unsecured, and the creditor isn’t who they say it is on ANY document. The article below confirms that the Banks are not looking to win these contested case, but rather looking to keep them to a minimum so they can get their free houses in the largest land grab in human history.

The resulting backlog of cases, caused mostly by the Banks’ stonewalling on discovery and getting to the merits of any case in an adversary hearing that must satisfy the rules of evidence, has cast a pall over the entire economy, resulting in the loss of jobs that reached the unprecedented level of nearly 700,000 lost jobs per month for months on end. Because neither the executive branch at the federal and state level nor the legislative branch at the federal and state level have done anything to clarify the situation and enforce existing laws, the situation still looks bleak as government leaders side step the third rail of this crisis — thee fact that the entire credit crisis was a staged coup in which the Banks cleaned up at the expense of everyone else — investors, workers, taxpayers, homeowners, consumers etc.

The scope of this scam is so large that one must take 10 steps back to see it. It is easy to say that if you lost your job and have no income that your failure to pay your mortgage should result in foreclosure and allow the property to move on.

But when we see that the reason they lost their jobs was the Bank securitization scam and the abuse of derivatives, whose complexity, shielded the Banks from allegation of outright theft, then it seems illegal, unfair and inequitable to allow the same banks to sponsor the foreclosure and “underwater” night mare that permeates all areas of the housing market, and thus all areas of the economy.

When we see that the alleged encumbrances (mortgages) are not legally perfected and that this is not merely a technicality but rather a curtain behind which the thieves are hiding, it becomes obvious that the application of hundreds of years of common law precedent as well as modern statutes, rules and regulations at all levels should be applied. There is no free pass for the banks that won’t add salt to the wounds that the nation has endured. And there is no salve that will cure what ails us without simply stating the obvious — there are no mortgages if the deal was originated as part of a securitization scheme. That one inescapable fact, once acknowledged, will bring back the middle class, stimulate the economy and brighten the mood of a country whose citizens have lost faith and contact with their government.

It’s really in our hands now. If we keep up the pressure the results will be as I have predicted. And we won’t need to wait 67 years for resolution, because there won’t be a problem to resolve. The fall of the megabanks — essential to both our economic prospects and world peace — will provide room for the thousands of independent banks to pick up the pieces and move forward again with appropriate lending in place of the hoarding that the megabanks have used as their policy. Those banks have taken our country, indeed the world, hostage. We should not negotiate with these economic terrorists nor allow them to intimidate us. Collectively we are bigger and stronger than they are. Let’s prove it.

Backlog of Cases Gives a Reprieve on Foreclosures


Millions of homeowners in distress are getting some unexpected breathing room — lots of it in some places.

In New York State, it would take lenders 62 years at their current pace, the longest time frame in the nation, to repossess the 213,000 houses now in severe default or foreclosure, according to calculations by LPS Applied Analytics, a prominent real estate data firm.

Clearing the pipeline in New Jersey, which like New York handles foreclosures through the courts, would take 49 years. In Florida, Massachusetts and Illinois, it would take a decade.

In the 27 states where the courts play no role in foreclosures, the pace is much more brisk — three years in California, two years in Nevada and Colorado — but the dynamic is the same: the foreclosure system is bogged down by the volume of cases, borrowers are fighting to keep their houses and many lenders seem to be in no hurry to add repossessed houses to their books.

“If you were in foreclosure four years ago, you were biting your nails, asking yourself, ‘When is the sheriff going to show up and put me on the street?’ ” said Herb Blecher, an LPS senior vice president. “Now you’re probably not losing any sleep.”

When major banks acknowledged last fall that they had been illegally processing foreclosures by filing false court documents, they said that any pause in repossessions and evictions would be brief. All of the major servicers agreed to institute reforms in their foreclosure procedures. In April, the Office of the Comptroller of the Currency and other regulators gave the banks 60 days to draw up a plan to do so.

But nothing is happening quickly. When the comptroller’s deadline was reached last week, it was extended another month.

New foreclosure cases and repossessions are down nationally by about a third since last fall, LPS said. In New York, foreclosure filings are down 85 percent since September, according to the New York State Unified Court System.

Mark Stopa, a St. Petersburg, Fla., specialist in foreclosure defense, has 1,275 clients, up from 350 a year ago. About 75 clients have won modifications, dismissals or sold their properties for less than they owed. All the other cases are pending.

“Banks aren’t even trying to win,” said Mr. Stopa, who charges his clients an annual fee of $1,500.

J. Thomas McGrady, the chief judge of Florida’s Sixth Circuit, which includes St. Petersburg, agreed. “We’re here to do what we’re asked to do. But you’ve got to ask. And the banks aren’t asking,” he said.

A spokesman for Bank of America said, “Any suggestion that we have a strategy to delay foreclosures is baseless.” A Wells Fargo spokeswoman blamed changes in state laws governing foreclosure for any slowdown. A GMAC spokeswoman said it was following “regulatory and investor expectations.” JPMorgan Chase declined to comment. Servicers said some of the decline in foreclosures could be traced to an improved economy.

There are many reasons that foreclosure, which has been slowing ever since the housing bubble burst, has been further delayed in many states.

The large number of cases nationally — about two million, plus another two million waiting in the wings — have overwhelmed many lenders and the courts.

Lenders, who service loans they own as well as those owned by investors, tried to circumvent the time-intensive process by using “robo-signers” who mass-produced documents, many of which made inaccurate claims. When the bad practices were discovered last fall, the lenders were forced to revisit hundreds of thousands of cases.

Over the last two years, most defaulting homeowners were people who had lost their jobs. Housing analysts say these homeowners are more likely to hire a lawyer and fight repossession than borrowers who had subprime loans that swelled beyond their ability to pay.

Judges these days are also more inclined to scrutinize requests for eviction rather than automatically approve them. The so-called foreclosure mills — law firms that handled many of the suits for the banks — are in retreat under law enforcement pressure. And some analysts suggest that banks are reluctant to take too many houses onto their books at any one moment for fear of flooding a shaky market.

In New York, lenders seeking to repossess face additional hurdles. The legislature has mandated that borrower and bank meet to discuss terms under the auspices of the court, but these conferences have turned out to be anything but brief or simple. Instead of one conference, 10 are often needed, court officials say.

And many foreclosure lawyers seem unable to meet a requirement, made last October by the New York Chief Judge Jonathan Lippman, to affirm the accuracy of their documentation.

“The affirmation has had a pretty chilling effect,” said Ann Pfau, New York’s chief administrative judge. “The attorneys for the banks tell us they can’t get through to the right people at their clients who can verify the information.”

Last September, before the documentation crisis, nearly 1,500 New Yorkers lost their houses as a result of foreclosure, according to LPS. The average over the last six months: 286. That is far lower than at any point since the recession began.

Similar foreclosure cases can have different fates. To increase their odds of staying put, the foreclosed who can afford it are hiring lawyers, a move that can drastically slow down a case.

Mr. Stopa, the Florida lawyer, said he divided his clients into three groups. Some are unemployed or disabled and just getting by. Others are able to save money and improve their financial situation as their case drags on. The third group are those who have strategically defaulted. They can afford to pay but are taking advantage of the banks’ plodding pace. Often the members of this group rent out the foreclosed home and keep the proceeds.

Though delays in foreclosure might seem like a gift to those behind on their mortgage, the foreclosed themselves do not necessarily feel that way.

Margaret Bellevue waited nervously in a Miami courtroom early this month. She and her husband, Roland, an architect, are among 97,000 households facing foreclosure in Dade County, where the average time to foreclose is 738 days and climbing, according to LPS data.

Ms. Bellevue was on her third lawyer in a case that has stretched on as many years. “A friend of mine got her mortgage lowered through a modification,” Ms. Bellevue said. “I’d like to do that too.”

When her case came up, the judge told the lawyers they should try to work out a deal. They huddled outside the courtroom and agreed to meet again.

14 Responses

  1. As the Indian said
    “I shall endeavor to persevere “

  2. I know this is coming from right field e.g. to this article; BUT?! What the hell right does California have in subjecting us to a BofA “Debit-Card” for uneployment and disability payments???? Is this National? REALLY bizarre!!!!!

  3. Hello, I’m looking on foreclosure info in Florida. Please send message.

  4. “What you should also know, is that both Chase and BofA I have been informed, are so far under water with Silver PUT contracts that they are basically Bankrupt many times over.. they have more put contracts at 14$ an ounce than there is silver in the world… which is why they passed the Frank/Dodd bill barring silver trading as of July 15th..
    It just keeps getting better and better..”

  5. No player may borrow from or lend money to another player.


  6. There’s that Monopoly game.

    He who wins owns the most real estate and can collect rent payments, right?

    Top of Page

    The object of the game is to become the wealthiest player through buying, renting and selling of property.

    Top of Page

    Besides the Bank’s money, the Bank holds the Title Deeds, and the houses and hotels prior to purchase by the players. The Bank pays salaries and bonuses. It sells and auctions properties and hands out the proper Title Deed cards when purchased by a player, it also sells houses and hotels to the players and loans money when required on mortgages.
    The Bank collects all taxes, fines, loans and interest, and the price of all properties which it sells and auctions. The Bank “never goes broke.” If the Bank runs out of money, the Banker may issue as much as needed by writing on any ordinary paper.

    the Banker may issue as much as needed by writing on any ordinary paper.


    Top of Page

    Money can be loaned to a player only by the Bank and then only by mortgaging property. No player may borrow from or lend money to another player.

    Money can be loaned to a player only by the Bank

    The Bank “never goes broke.”


    Where does money come from? How is it issued? Who controls it?

  7. I’ve created a t-shirt—for anyone that’s interested—in my zazzle.com store (you can customize color and style), that reads:

    GOT M.E.R.S.?

    (back) livinglies.wordpress.com

    here’s the link:


    I hope it’s okay with you, Neil…if not, let me know: cariemac9@gmail.com

    It’s a good way to get the word out…(and help me put some food on the table!).
    If anyone is interested in other items with similar wording (or even added artwork), for whatever reason, I would be happy to create them and make them available (there are quantity discounts), in my store—thanks and good luck to all of you!

  8. A friend of mine in NY responded to this article title this way:
    “It will be less than 2… as soon as the currency fails…”
    I couldn’t resist sharing…:-)

  9. These are indeed historic times we live in. Time for the heroes to come forth. Wonder what ANONYMOUS is up to…?

  10. I hope everyone really starts to pay strict attention to what type of Judges and politicians are elected in 2012.
    Anyone that refuses to uphold their oath to defend our Constitution should be put out to pasture either by mass impeachments or stepping down without pensions.
    The Chief Judge of every state is obligated to seeing that the lower court judges follow the Constitution and the Laws of the Land.
    Why do we have to wait 67 years. I don’t have 67 years.

    The only ones that 67 year wait would work for is those that buy a house when they are five years old.

  11. ” Many generations will come and go before the foreclosure mess and the title crisis is solved or resolved.” 

    ……Positively Dickensian

  12. Mainstream media, financial reporters, industry analysts, economists and our government leaders still say we need to speed up foreclosures so that the economy can recover. It is time for them to wake up. The economy cannot recover until the foreclosures stop and people now in homes, stay in their homes. Those who lost homes should be able to return to their empty, now trashed, neglected homes and communites if they wish.

    This has never been about supply and demand or people who could not afford their homes. They could not afford their toxic “mortgages”. This has been about lethal doses of toxic poison systemically administered, sanctioned by those who should be protecting American citizens.

    There is no demand. Lower and lower income. Higher and higher debts of all kinds. Group living and lower standards of living. Education and vital services shut down. No one wants a house (mortgage) anymore and will not want one perhaps for a generation. Average people do not have the cash to buy them and average people will not borrow money ever again. They want freedom from the heavy hand of loan sharks. They get it now.

    This Great Depression including unemployment and the global financial crisis is the result of – not the cause of the massive foreclosures that have already taken place and the massive unabated foreclosures still ongoing. It is mind boggling that congress and all the rest never saw this as an emergency, handed vast amounts of money to the perptrators,shoved it aside and shifted the conversation to anything but that.

  13. The woman Frances B Turner holding a flipped forged deed in one of my two condos, was able to get a loan modification for the forged deed without too much trouble from Bank of America. Bank of America sure works with the crooks
    She is well connected to the corrupt attorney David K Fiveson , he was one of the two title attorneys that paid off Judge Schlesinger for her illegal decision.

  14. […] Source: Livinglies’s Weblog […]

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