Missouri Indictment Gives Notice of Title Defects to All Buyers

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“Defendant, acting knowingly in concert with its employees, with the purpose to defraud, used as genuine or transferred with the knowledge or belief that it would be used as genuine, a writing, namely Deed of Release number 2009020598, knowing that it had been made or authenticated so that it purported to have been made by another, or that it had been made so that it purported to have been made by authority of one who did not give such authority.”

“Defendant acting knowingly in concert with its employees, with the purpose to mislead the Boone County Recorder of Deeds, a public servant in the performance of her duty, submitted or invited reliance on a writing, namely Deed of Release number 2009020598, which Defendant knew to be lacking in authenticity, and which stated a fact material to the purposes for which the writing was offered.”

EDITOR’S ANALYSIS: The Missouri Indictment comes as a surprise to many who viewed AG Koster as just someone on the sidelines. It constitutes just one indictment from one County in the State of Missouri. Presumably, since Koster said the investigation was ongoing, there will be similar indictments from other Missouri counties and perhaps other states will be emboldened to do the right thing: set the record straight by establishing a pattern of fraudulent conduct by the Banks and servicers designed to cover up defective documentation arising from the origination of the mortgage loans all the way through eviction of homeowners by strangers (pretenders) to the transaction.

What strikes me as particularly interesting for the future of this ongoing saga, is the effect these indictments will have on title claims in warranty deeds, mortgage deeds, deeds of trust and satisfactions of mortgages. Specifically, anyone who buys or loans money on property needs to be very careful about what they are doing, because now they have actual notice of title defects. They are no longer a bona fide purchaser for value without notice.

The significance of this cannot be over-stated. Most of the recordings in county title registries relate to mortgages in which there was a claim (either on record or off-record through MERS) of some type of transfer, sale or securitization of the loan. It now appears as though most of those filings have at least some fabricated, forged or altered documentation that once upon a time had carried a presumption of validity.

That presumption is eviscerated, in my opinion, by the indictment and the various media reports, so much so that the burden is now on the banks and servicers to plead and prove their case that even if the documentation contains defects, the loan is still documented and the enforcement of the loan is permissible. Judges and lawyers would do well to reconsider the presumptions that are at work in the foreclosure arena and change their strategies accordingly — demanding that the the banks and servicers assume the burden of persuasion in all foreclosures — judicial and non-judicial.

Trustees on deeds of trust and the lawyers who represent pretender foreclosers have lost a key element of protection for their contributions to this mess. They have actual notice of the problem and while the indictments are not convictions, the combined total data that has emerged in media reports and civil and criminal actions by the chief law enforcement officers of each state puts NOTICE on the table, to wit: they know that there is a high probability that the documents upon which they rely in pursuing foreclosures are false declarations lacking in authority. 

Trustees on deeds of trust, who have never done the due diligence required under the statutes enabling their existence now have an added duty that they are ignoring — to demand proof of the veracity of the declarations, instructions and documentation they receive.

But the impact of the NOTICE factor is much broader. There are only a few million foreclosures. But there are tens of millions of transactions that were recorded in refinancing, sales, foreclosure sales, credit bids (from creditors who were not creditors), and other fatal flaws in the release, satisfaction or recording of new mortgages. All of those mortgage transaction need to be re-examined, which is why the regulatory agencies that told borrowers to pound salt just a year ago are now monitoring compliance with cease and desist orders against all the major banks and servicers.

The issue of title is one of notice and recordation. Even if the regulatory authorities miss something, or law enforcement misses something, the facts are now in the public domain that lead to a reasonable requirement of due diligence, which means insisting on proof of the truth of the declarations (and the authority to make those declarations) contained in the documents upon which the pretenders, the Courts and lawyers relied. In my opinion, that means there is a cloud on all titles for all residential transactions that were completed from 1996 through the present.

The enormity of that statement does not escape me. because it means that even innocent new buyers and lenders who loaned money on the purchase of a foreclosed home might have the security interest impaired, which is another way of saying they don’t have the collateral they thought they had. And the title companies, bracing for the onslaught of lawsuits for coverage that if, sustained, would bankrupt all of them, are not ready to lay down and die. The title companies have every intention of fighting liability, saying that they too were deceived by the fraud, and that they never intended to insure such a risk.

That pretty much leaves home buyers and lenders out in the cold. The buyers might not ever get clear title and the lender might not have a perfected lien securing the loan they made to the buyer — all through no fault of the buyer or the new lender (unless the lender is one of the securitization players in which case they knew, or had notice, of the actual defects in the chain of title.

The bottom line is that right now, many if not most properties in the country are under a cloud and, based upon the facts we know, are probably subject to breaks and defects in the chain of title that are not repairable without the signature of the homeowner(s) who were in the chain. That signature is getting very expensive to procure as more and more homeowners and prior homeowners realize that they might have a completely enforceable right to title and possession of properties long since foreclosed and from which they were long since evicted. This will leave the new ‘buyers’ without a house and with a debt and it will leave the new lenders with an unsecured debt from someone who must pay to live elsewhere.

The new brand of investors who are buying foreclosed properties together with the lenders who are financing these purchasers are relying upon taking title from someone who doesn’t have it and getting a satisfaction (release and reconveyance) from someone who never owned the loan. The dirty big secret here is that all the documents are tainted and most of them will be proven to be defective, most of which fatally defective.

That doesn’t mean that the obligation that the borrowers’ undertook is off the table. It just means that it is unsecured and not subject to foreclosure and that the asset (the home that was foreclosed or refinanced or re-sold) might still be an asset that belongs to them or in bankruptcy parlance, an asset of the bankruptcy estate.

On the other hand it doesn’t mean that the obligation is on the table either. If the investors, who are the only true lenders or creditors in those transactions, do not seek collection or enforcement against the homeowners because they have already been paid or because of any other reason, then as far as the mortgage obligation is concerned, there may be liability without enforcement.

That is where the fraud and  false declarations come in. Knowing that the investors would not even attempt to enforce the loans, the banks began this systematic fraudulent scheme to insert themselves into transactions in which they had no interest. They didn’t loan the money and they didn’t buy the loan, but they managed to persuade most of the American judiciary that being the “holder” of the note was sufficient. As the public records will attest, they were never acting for the investors. They were acting for themselves, because it was these interlopers (pretenders) who took title by submitting a “credit bid” to an auctioneer controlled by the banks.

The Missouri indictment and what follows will be a test of how much these banks and servicers have to pay the piper for their horrendous acts of fraud and chicanery that brought down world economies and our own economy in the name of naked greed.

41 Responses

  1. Title Defects?
    So What?

    All the Loans are bad,
    and everybody knows it.

    Crooked Judges
    Corrupt System
    AGs all sign Bogus Scam Settlement.

    All this chatter
    What is it getting anybody, really?

    Nobody in Govt (President and US AG included)
    seems to have any interest in upholding the Laws.

    Everybody knows the Loans are Bogus
    created with Bogus Lending and Bogus Appraisals
    in a Bogus Housing Boom that didn’t really Exist!
    Should we all talk about Robo-Signing for another year?

  2. Please be aware that the trustees are all involved in the fraud…they are defrauding the clients they claim to represent…they are also making money off them…so they know exactly what the servicers are doing and many of them also own the title companies…and some insurance companies so they will collect one way or the other from the home owners…go figure…the mess will one day be completely exposed cause there are other fraud committed not yet disclosed until the banks thinks they have gotten away…watch…and pray/see….

    They WILL NOT GET AWAY! When they think all is well then suddenly…sudden destruction!!! We will have our day in court…mark my words…the mess has so hit the fan, there is still so much more cleaning up to do by them…

  3. Good for Missouri…..someody is starting the process of making these banks and others pay for their racketeering activities!! Hell, if the banks start a precedent by being allowed to get away with fraud and producing fake documents, what’s to stop that sort of activity to spill over into other aspects of American life….people filing fake applications, credit reports, affadavits, taxes…etc! And, they can point out the banks as their defense….when would it stop??

    ONE SET OF LAWS AND RULES FOR EVERYBODY….INCLUDING THE BANKS!!

  4. True…”they” will NEVER get our spirit, our soul, or our SMILE…:)

    …and THEIR souls will have a lot of ‘splainin to do…in the next world…

  5. @ Papergate

    Thanks for understanding and letting us know that there are legions out there also fighting; each in their own way. I am more of a general common sense type person and find it challenging to keep pace intellectually with many on this site but I always figure I might throw something out there that may be useful to someone here or on the sidelines following the site. I am so sorry for the people who have had their spirits broken by all of this. I read the post of “Catherine” and the horror stories she has personally assited with and it is such a crime. Soon our streets will be filled with the helpless and homeless. I wish to give some of my fiestyness to those who have been broken. These mobsters can rob me of my home, savings, retirement; but they will never never get my spirit or my soul. I have made it through worse! Everyone has something worthwhile to contribute and should not feel too shy or broken to participate. It is one way to feel that you at least still have the right to free speech and a place where you are completely understood.

  6. @Kathryn and Enraged:

    I have and will always be here ‘listening’ to and on your sides for sure you can rely on that . . . you were never once alone, even if you were the only one ‘chatting’ at the moment – I am always quietly reading, having my java, making notes – you have not been having imaginary one way conversation with “nobodies” . . . in fact there are legions of us sitting there with you – they’re just too shy or broken to respond. Some are cheerleaders some are in the stands but both are at the game!

  7. @ Tresspass Unwanted
    In this instance, and I appreciate you taking the time to answer me TU,
    I am not speaking of the trustee for the mbs, but rather the substitute trustee that has been assigned the job of conducting the auction in a non-judicial state. If there was a letter that was worded correctly and was noticed or whatever it took to give it teeth that we could send en masse to these “trustees” that would make them say to the servicer and /or their lawyers “we can no longer expose ourselves to the liability of these foreclosures unless you give us a document wherein you swear that the documents you are relying on to foreclose are, by your own personal knowledge, verified true” and in lieu of getting such a document they need to cease and desist. I would think maybe that would be a way to go. If we could get a lawyer to write something up and we could pay a fee for having it notarized, sent certified mail and recorded with the deed. I am not by any means an expert in this and I find myself inadequate to stand up in court to argue these things and cannot afford an “attack dog”, but I have no problem writing a motion and filing it with the court, as I am sure many people on this and other sites could do as well.

  8. @hman – it’s because there is no transparancy being enforced anywhere. That presumes there has to be transparency, and there must be, otherwise anybody can sign anything, and that includes f/c docs. Well, they can’t, but they are anyway. When First Mess Them Over executes a NOD allegedly for Kill Em Quick sub’d trustee, they may have the authority to do so. BUT, in the absence of evidence of that authority, they have to be put to their proof. Object!
    “The record produces no evidence of First Mess Them Over’s authority to act for Kill Em Quick”. We all know were this to happen,
    the two of them would likely collude and produce the (limited probably) poa or agency agreement. At least MAKE them! Any authority to do anything in regard to interests in real property has to be in writing pursuant to the sof – period. Any judge who does not have a big bent or who does not want to be overturned on appeal will acknowledge this truth. This is why substitutions of trustees have to a) be in writing and b) be recorded, so that the “record produces evidence of authority”.
    Hey, that just made me think of something about those robo-signors. Can’t quite get a handle on it this minute, but long and short I think, is they were executing docs “having to do with interests in real property” and thus governed by the statute of frauds so their authority had to be in writing. If not, not just robo-signing misdeeds, but act is void or voidable just on that score. I think: no authority. And who is gonna put it in writing: “go sign all those or go sign Sally’s name to all those?”
    ????

  9. @hkcon,
    Beat you to it.
    When my home was being stolen, I contacted the Trustee on the Deed of trust, and got a written response back. I told him, or better yet pleaded (against my free will) that he not give the title to my property to the (pretender) entity who was trying to steal the home and call it a foreclosure.

    The response was pretty much, I don’t have to talk to you. I am bound by contract law and trust law and I am here for the benefit of the beneficiary, or the one who has the note AND (emphasis added) a security interest in your home. You mention the entity so I guess it’s the entity.

    I later called the Trustee office and spoke to a woman and said, ‘the substitute trustee is filing a bunch if papers with her name on them, and later going back and modify the documents to add my name, but the date of the filing has not changed. They are making it look like I am transferring ownership and title to the (pretender) entity, please don’t give them the Trustee Deed.

    The response was, their client is our client too.

    Oh the horror of the entire fraud, right there from the one who is bound by contract and trust law, but also has a contract with the one who wants what they had and would get them to fail to perform the obligations of the other contracts they had entered into first.

    Maxim of Law
    Earlier in time, is stronger in right. First in time, first in right.

    The conflict is the pretenders can affect anyone’s credit or call any debt due, and that undue influence can be a factor in why so many turned a blind eye to the fraud “as long as it wasn’t them.” But to have the power to stop a crime and to assist in it because you closed your eyes, appears to make you an accessory to it.

    All had a fudiciary duty to do their job when the time came and many failed according to their oath or required performance contracts or licenses.

    Judges issued orders, their signature is on those orders, to steal the homes and sheriffs carried out the orders, and realtors squatted on the homes people fled from in fear of having someone put their hands on them and remove them and their possessions from their property.

    There was no offer, acceptance, consideration; all the things needed for a valid contract during that process.

    They want to go after the robosigners saying they should not sign a legal document they didn’t review…well that shoe fits on the feet of many judges that if they’d reviewed the answer to the suit, they’d see the homeowner stated their claim of right to the property and the judges did not read the documents and signed them.

    Same thing….same thing…and trustees ignored the law and many had no beneficiary and without an assignment of the property, the beneficiary abandoned the trust so it was unenforceable by anyone on the outside who was aware that the beneficiary had abandoned the trust.

    Maxim of Law
    Possession is a good title, where no better title appears.

    Maxim of Law
    A right cannot arise from a wrong.

    These banks and servicers and all their mysterious accounting, and systems, and papers don’t have a right just because they jumbled up enough stuff to give an illusion of ownership.

    Opinion,
    That settlement would be the ultimate fraud, to give them a right by accepting a bribe that is less that what was stolen was worth, and less than the ill gotten profits from the use, reuse, and redistribution of the stolen property and wealth.

    Trespass Unwanted, corporeal, life, free and independent state, a People, allodial, jure divino, in jure proprio

  10. @E.Tolle

    As matter of fact, I have a nice big ol’ rusty pitchfork all ready to go…and I am SO itching to use it…

  11. @ Enraged

    Confusion is the name of their game. I’m glad that I never had the propensity of drinking or using drugs to get through each day. Yes..confused and scattered at times, frustrated, angry, bitter all the normal emotions considering my own personal situation, others on these sites and the US in general. I have, like many of you here, spent thousands of hours pouring through this stuff. And we all know that the trail just leads us deeper and deeper into the infinite black void. You are right, what exactly is the focus. I would love to be given that answer, however, as most of our stories have some things in common, others are very different. If I have vented and seem to ramble it is because I know there are people here that understand. I have also spent countless hours writing to anyone who might listen to help not just myself but others as well. My life path has always presented obsticles and I have managed to get through them and land on my feet. This will be no exception. I am, however, not sure about this country.

  12. @Slayer,

    Northern Ohio’s money was manufacturing money for a long time. That’s gone. Central Ohio’s money was agriculture. Lot of it has been gone for a long time. When it is all gone, people may decide to smarten up. At least, prop 5 was voted down. That tells me that wealth is definitely leaving this state…

    When wealth disappears, people start using their brain.

  13. @Enraged,

    I guess when we have somebody like Courdray who actually called fraud…..well….FRAUD!!!!….They fired him….

    On the flip side, when your hired by Lehman Bros. to have Ohio fork over 485 million in pension funds, and then lose every fucking dime of it a year later, they give you a job title of “Governor”…

    Why don’t these incompetent morons called voters,
    just request cyanide gummy bears?

  14. @Katheryn,

    They have you right where they wanted you: slowly going insane, losing perspective, wondering which problem is the most important, unable to sort the massive quantity of information/misinformation/disinformation. Do you feel your mind getting foggier by the day, with all that research? This is not accidental.

    We lost someone here recently: a real good guy. We all saw him slowly fall into the abyss. At the beginning, he made quite a bit of sense in his questions. He understood the questions. He could formulate them. He could even come up with a few answers. Shortly before he vanished from this site, he had become completely incoherent. We all could tell that he was heavily drinking. Borderline despondent.

    Sad case. Exactly where they want us…

  15. I’m confused. Isn’t docx a subsidiary of LPS? All these investigations and yet check out this link wherein LPS is partnered up with the GSE’s and affects all loans sold to GSE’s after March 2012. So this is a new relationship it appears. And why would GSE’s be partnering up with a company that is now under indictment? Also, one of my mortgage notes (there is a real one and a cut and pasted one) contained instructions to return to Worldwide Recording after filing. For a year I could find nothing about Worldwide Recording except that the had the same address as Nations Lending Services. Well now when I did a search for Worldwide Recording it is exactly the same website as Nations Lending Services. It is very weird.

  16. @Toile,

    Have passports. Will travel farther…

  17. Astute commentary Neil. Thanks.

    @ JG, true. Never ceases to amaze me when researching my state’s statutes how the law has been handed over to the Creditor Nation without our even knowing it.

    Dozens of statutes once enacted for consumer protection now labeled “Repealed”.

    Look at fraudulent conveyances. All two dozen statutes read, “When the creditor is defrauded,” or “an act of fraud against the creditor…” it’s amazing how they’ve gotten to our so-called legislators. When the dust settles we’ll need to rewrite the abomination forced on us by these assholes.

    @ Enraged, absolutely ending in civil war, as the haves who’ve gamed it all will need to have their sweaty palms severed from the wads-O-cash they’ve stolen. They WILL NOT walk away from their fraud devices on their own accord.

    But if that’s the score, so be it. Have pitchfork, will travel.

  18. Forget the settlement. No state Attorney General can sign away anyone’s civil rights. All these cases are admissible through judicial notice, and that includes the Mozillo deal as well. These are factual accounts of systematic fraud that began the day MERS came into being. I loved the MERS Trademark piece because it opens up a whole can of worms when it comes to their intent in forming that ‘combination’. Anyone defending foreclosure who prevails should counterclaim for damages and preserve their right to file separate civil claims that can be amassed as a class action without the need for any AG agreement.

    I also believe that county recorders across the country should join in a concerted effort to have the banks pay to repair the ‘busted’ recording system that was intended to maintain the integrity we once counted on to secure real property in America. It’s gone the way of the dollar… busted.

  19. @John Gault,

    Protecting the titles from this day forward assures that, whoever wants to come and invest in this great country that is the U.S. of A (where no one has any money left since it has all been shipped abroad, along with manufacturs and our economy as a whole) will have some protection from us, the ugly, irresponsible Americans who defaulted on their loans.

    In America, everythingis for sale. Even America. Especially America.

  20. I can’t figure who all is signing the settlement. Read a piece this morning – not clear.

    NG’s post talks about notice and opines the MO action serves as notice of defects in titles generally. Hope like heck that turns out to be true. I’ve gone on about filing something on your home to give notice of your claims. Notice = no bonafide purchaser. It appears efforts are underway to protect buyers of foreclosures! Michigan appears to already have a 5 yr sol for the recovery of land. Got that from Eaton’s supplemental brief – I haven’t read Michigan’s law. MA is messing around with a similar law “An act clearing titles to foreclosed properties”, so says the brief. Huh? That’s just not right. Before we know it, the curmudgeons will have gotten to every state’s legislation and urged and gotten further limitation and abridgement of our rights in regard to post-foreclosure actions. They have already done damage to us by getting changes to statutes in their favor regarding deeds of trust in the first place. It’s getting to be a ‘bit much’ to even try to stay on top all the bull working against us by the hands of that gang. Eaton’s own brief actually encourages statutes of limitations
    on foreclosures: “Enact a statue of limitations or marketability
    statute”. No, monsieur, surely that can’t be the remedy. The remedy is for the court to do the right thing and let those chips fall where they will.
    No responsible adult in this country bought a foreclosure
    without some inkling or another of the mass foreclosure fraud. They have recourse: possibly a title claim and in that regard, the same goes for a title company who chose to issue a titile policy. I feel for some title companies. Not all, that’s for sure, but some. Title companies at one time were just about keepers of the faith, whether as a self-protective matter or not. They didn’t insure bad titles but they also weren’t forced to make a choice to do so or go out of business. On the other hand, some of them were involved with MERS formation and let’s not forget, ever, who they were when and if life gets real again.
    I don’t know what if any recourse a buyer would have against the party who was the seller of a bogusly foreclosed home. Maybe have some, especially when the seller was involved in the bogus foreclosure. As to that, good. That’s where the recourse should be. Those guys got all the gimmies in the world and chose to continue on the same course of bad acts which necessitated their bailout and killed the rest of us.

    What is the effect on a good faith buyer of a foreclosed property if the foreclosure is deemed void? I’m not sure. Eaton’s attorney suggests the good faith buyer should be protected. That will come, of course, at the expense of the guy wrongfully foreclosed on, right? Should the law protect the good faith purchaser and leave the homeowner whose home was stolen to find recourse elsewhere, like sueing for money
    damages but not return of his property? That doesn’t sound like much fun.

  21. @Can Y dig,

    Bingo!

    That’s why I believe more and more that it will have to end in civil war, since, even if those banks collapsed, they would fold like cheap suits and would take away with them all the taxpayers money they got.

    I was against the bailouts. I have advocated from the very beginning that we let the banks and AIG collapse and that it will be the only way to start from scratch on more solid bases. Apparently, Obama has other ideas. We’ll see… I, personally, have nothing to lose either way. Except my life but it is a temporary proposition anyway. So, the only risk for me is that it ends up shortened a bit. Big deal! I’ll get there no matter what!

  22. @Slayer,

    You can swear as much as you want: we knew what he was made of. I sure as hell didn’t vote for either one of them. The rest of the state must have, though, because that’s who we ended up with.

  23. Are we getting to the point where we can send a mass mailing to these trustee companies stating that they have and are continuing to involve themselves in fraud and that they should cease and desist immediately and that they need to ask the servicer and the lawyers for proof of veracity in all documents relating to the foreclosure (non judicial states)? If so, a letter template that we could all use would be of great importance and assistance to us.

  24. Anyone else thinking LPS might turn on the servicers rather than go to jail? I’ve been working this BS for a while and I’m not so cynical that I believe the banks will be let off the hook. I have a bunch of docs signed and recored in several states by Wells employees and notarized also by Wells employees. Does anyone know how much Wells employed LPS to do the signings and how much was retained in house? Many signatures don’t match and I’m looking at only three counties available online. I need to know whether these docs were, in fact, signed by Wells employees or whether they were signed outside by others. I have many names I’m looking at, too many to list here. Anyone with info on Wells robosigners or who needs exemplars of signatures for various Wells names is welcome to contact me at jordanalipscomb@gmail.com I am happy to share info, docs and help anyone. I am determined that Wells does not get away with this.

  25. BLOOMBERG –

    Banks Paying Homeowners to Avoid Foreclosures

    Q
    By Prashant Gopal – Feb 7, 2012 12:00 AM ET .

    inShare.140

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    Enlarge image

    Locks are changed during a home foreclosure on October 5, 2011 in Milliken, Colorado. Photographer: John Moore/Getty Images

    Play Video

    Feb. 7 (Bloomberg) — California and New York’s attorneys general haven’t signed on to a proposed settlement with five banks over foreclosure practices that has won the support of more than 40 states. Shannon Pettypiece reports on Bloomberg Television’s “InBusiness With Margaret Brennan.” (Source: Bloomberg)

    Enlarge image

    Abandoned houses at the Desert Mesa subdivision are pictured in North Las Vegas. Photographer: Jewel Samad/AFP/Getty Images

    Enlarge image

    Losses for lenders are about 15 percent lower on the sales than on foreclosures, which can take years to complete while taxes and legal, maintenance and other costs accumulate, according to Moody’s. Photographer: Tim Boyle/Bloomberg
    .
    Banks, accelerating efforts to move troubled mortgages off their books, are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe.

    Lenders have routinely delayed or blocked such transactions, known as short sales, in which they accept less from a buyer than the seller’s outstanding loan. Now banks have decided the deals are faster and less costly than foreclosures, which have slowed in response to regulatory probes of abusive practices. Banks are nudging potential sellers by pre-approving deals, streamlining the closing process, forgoing their right to pursue unpaid debt and in some cases providing large cash incentives, said Bill Fricke, senior credit officer for Moody’s Investors Service in New York.

    Losses for lenders are about 15 percent lower on the sales than on foreclosures, which can take years to complete while taxes and legal, maintenance and other costs accumulate, according to Moody’s. The deals accounted for 33 percent of financially distressed transactions in November, up from 24 percent a year earlier, said CoreLogic Inc., a Santa Ana, California-based real estate information company.

    Karen Farley hadn’t made a mortgage payment in a year when she got what looked like a form letter from her lender.

    “You could sell your home, owe nothing more on your mortgage and get $30,000,” JPMorgan Chase & Co. (JPM) said in the Aug. 17 letter obtained by Bloomberg News.

    $200,000 Short

    Farley, whose home construction lending business dried up after the housing crash, said the New York-based bank agreed to let her sell her San Marcos, California, home for $592,000 — about $200,000 less than what she owes. The $30,000 will cover moving costs and the rental deposit for her next home. Farley, who is also approved for an additional $3,000 through a federal incentive program, is scheduled to close the deal Feb. 10.

    “I wondered, why would they offer me something, and why wouldn’t they just give me the boot?” Farley, 65, said in a telephone interview. “Instead, I’m getting money.”

    Tom Kelly, a JPMorgan spokesman, declined to comment on the company’s incentives.

    “When a modification is not possible, a short sale produces a better and faster result for the homeowner, the investor and the community than a foreclosure,” he said in an e-mail.

    A mountain of pending repossessions is holding back a recovery in the housing market, where prices have fallen for six straight years, and damping economic growth. Owners of more than 14 million homes are in foreclosure, behind on their mortgages or owe more than their properties are worth, said RealtyTrac Inc., a property-data company in Irvine, California.

    Foreclosure Holdouts
    Read more at http://www.bloomberg.com/news/2012-02-07/banks-paying-homeowners-a-bonus-to-avoid-foreclosures-mortgages.html

  26. Bank Of Stealing America just had their huge high rise in Atlanta foreclosed on!!!

    Their “lender” bought it with a $235,000,000.00 credit bid.

    http://www.ajc.com/business/bank-of-america-plaza-1336921.html

  27. I agree with Enraged – stop paying on anything going to these banks.

    Assert your constitutional right to due process – file an action against the bank; even if you can’t get or can’t afford an attack dog (oops..attorney) of your own. I don’t care if you write and file it on a roll of toilet paper; just do it. Bombard every court in every state and city with pro se litigation. Even small claims court. Keep the banks’ pit bulls (oops; attorneys) very very busy. Keep the courts very very busy. Better yet; try to get your local press involved to be at each and every pro se hearing in front of a judge. That would make for quite interesting utube videos.
    Voting O’bama out to bring Romney in is not going to due a thing to change the situation. Keep the picture of Romney proudly receiving the TRUMP seal of approval. Nothing more needs to be said; that pretty much sums it up so I have not even a clue as to how to get rid of the political scum rats supposedly representing the people and get honest loyal people in????

  28. Talks about the liability of the trustee having to do it’s due deligence.

    What happens when the trustee on record is out of business? Transnation was aquired by Lawyers Title. I’m not sure the specifics.

    However, when Transnation (defunct, sold?) the trustee on record foreclosed on me they sent me a breach of contract and then assigned the DOT to California Reconveyance. Another time the defunct trustee assigned the DOT to Quality Loan Services.

    How can a defunct trustee assign anything? Wheres the due deligence. Also, According to my servicer my loans were securitized and Deutsche is the trustee. WTF?

  29. I found some article here about Missouri.

    http://www.infozine.com/news/stories/op/storiesView/sid/50653/

    Is this for civil case?

  30. PLEASE HELP FLORIDA DISTRESS HOMEOWNERS

    PLEASE take a moment to email these Florida Representatives (no matter where you are in the nation) and urge them all to VOTE NO on HB 213 (UN)Fair Foreclosure Act up for vote this morning in the Florida House Economic Affairs Committee

    Dorothy.Hukill@myfloridahouse.gov ; Peter.Nehr@myfloridahouse.gov ; Geraldine.Thompson@myfloridahouse.gov ; Frank.Artiles@myfloridahouse.gov ; Jim.Boyd@myfloridahouse.gov ; Brad.Drake@myfloridahouse.gov ; Joseph.Gibbons@myfloridahouse.gov ; Doug.Holder@myfloridahouse.gov ; Mike.Horner@myfloridahouse.gov ; Evan.Jenne@myfloridahouse.gov ; Bryan.Nelson@myfloridahouse.gov ; Jeanette.Nunez@myfloridahouse.gov ; steven.Perman@myfloridahouse.gov ; Ronald.Renuart@myfloridahouse.gov ; Kenneth.Roberson@myfloridahouse.gov ; Irving.Slosberg@myfloridahouse.gov ; James.Waldman@myfloridahouse.gov ; Ritch.Workman@myfloridahouse.gov

    Subject: Please VOTE NO on HB 213 (UN)Fair Foreclosure Act

    Dear Sir, Madame,
    Please VOTE NO on HB 213 (UN)Fair Foreclosure Act
    Thank you very much

  31. My understanding of criminal law is that if a criminal defendant is found guilty the penalty is one of: jail, fine, or both. My understanding is that the defendant is DOCX, LLC, a Georgia corporation. So, if the defendant is found guilty, if the penalty is a fine, none of the actors who falsely signed are personally liable. If the penalty is jail, how do you put a Corporation in jail? Even if this were a civil proceeding and there were to be civil liability, the corporation could simply file for bankruptcy. Basically the question is what really do the forgers have to lose?

  32. @Enraged

    You said “Kasich”…..You really want to hear me swear, Don’tcha?!

  33. @Slayer,

    DeWine is useless. I wrote to him a while back and told him exactly that. He never bothered to answer. Ohioans voted for him, who knows why, instead of sticking with Cordray who was doing a hell of a great job. That serves Ohioans well!!!

    Having a Kasich from Wall Street to replace Strickland serves them well!!!!

    I hope they’ve learned their lesson.

  34. Typical case of the right hand not being concerned with what the left hand does.

    If Missouri AG does sign the settlement, it means that banks are, de facto, completely innocent of any fraud committed by LPS in his views. Going exclusively after LPS will only get us so far. LPS didn’t act alone and banks knew what was going on. Not lifting one finger to incriminate them will only serve to confirm what we’ve known all along: fraud is actionable… except when committed by banks.

    If it’s not the proof that they rule the world, I don’t know what is.

    We have the ability to paralyze banks by stopping every payment of anything they claim to be owed by us, 99%, whether it be a student loan, a car loan, a mortgage, a credit card or anything whatsoever. Until we do, as a group of 99% of the population, banks will continue ruling the world.

    Our choice. I’ve been advocating stopping all payments to bank and flocking credit unions. People still hang on to their Chase account. Menawhile, I am bombarded with offers to open a new account, in exchange of which banks are willing to give me anywhere between $100 and $250. That tells me that banks need cash and they need it fast. We can stop that nonsense by stopping the flow of cash going to them.

    Who’s going to do it? It has to be a general and concerted team effort.

  35. I hope Missouri doesn’t end up throwing their citizens under the bus like Ohio’s AG is contemplating. The Republican asshole (DeWine) is going to let the “King of robo-signers”, (Jeffery Stephan) skate, along with his employer, GMAC… The corrupt backing the corrupt!

    http://www.sconet.state.oh.us/tempx/701829.pdf

  36. Mr. Koster, time to head to Jasper County! Check “suits for quiet title” Carthage, 2008-9, never assigned for hearing. Fraud extends to judiciary.

  37. Hmmm. Let me get this right — Missouri Attorney General is signing the Settlement??

  38. […] Read this article: Missouri Indictment Gives Notice of Title Defects to All Buyers […]

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