Tonight! False Claimants: Who’s on First?


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Tonight’s Show Hosted by Neil Garfield, Esq.

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After 12 years of thinking and analysis I have boiled everything down to one question: Does the party named by the lawyers ever get anything out of a successful foreclosure? I think the answer is always NO if the loan has been sold into the secondary market and worse yet if it has been subject to securitization claims which are almost always completely false.

If the lawyers have given a name of an implied entity that does not exist, the answer is obvious but sometimes you need to parse their words to even discover that they are naming a party that does not exist. If the lawyers name a legally existing entity then the question is whether that is the entity who will actually receive the benefit of foreclosure. Again the answer if you parse the words used by the lawyers the answer is no, whoever it is they named as claimant will never see the use or proceeds of the foreclosed property.

And then you have the hybrid. Like Deutsch or US Bank or BONY as trustee for a jumble of words that imply but do not identify a trust and refer to certificate holders without identifying the certificates that in all events disclaim any interest in the subject debt, note or mortgage.

BOTTOM LINE: If the lawyers know that the name they are using for the claimant is a fictitious entity or is an entity that has never received the proceeds of foreclosure in the past, then they know that the foreclosure is invalid and probably fraudulent but they do it anyway because they can and they get away with it.

6 Responses

  1. We know the “trusts” are fake, but need to also look at changing positions to cover up.

    Servicers claim the legal name of the trust includes the trustee name. For example — “Too Big to Fail Bank, trustee, for Junk Series XYZ.” However, this is false. Prospectus will give the legal name of the Trust Series – and it does NOT include the name of the trustee. Then, if not in foreclosure, the servicer will claim they “hold” the loan. Impossible if the TBTF Bank is the trustee. But, then trustee will say — they are not the holder. This is what happens if NOT in foreclosure but just trying to “GET OUT.” This is why representation is really by the servicer in courts.

    Deeper. Collateral. Warehouse “lenders” that hid behind the curtain, never got paid. All collapsed before they could be paid lines of credit.

    It is horrible that the government let the people fend for themselves in courts that support the TBTF banks. Government settlements dumped the true victims – the homeowners.

    For everyone who has fought to keep their home — thank you. Even if you lose, you have done more then you know to keep the fraud alive, and expose the greatest financial crime of the century – or, perhaps, ever. One day, the truth will come forward thanks to efforts of people to save their homes. Thank you to Neil.

    I have come to the conclusion that “Title” cannot be cleared without foreclosure. Every trick in the book will be used to get there. We cannot give up. .

  2. A Raleigh house flipper has lobbed a lawsuit against Bank of America, claiming the banking giant knowingly cost it thousands of dollars by selling it a foreclosed property – complete with its former owner in tow.

  3. Losingmyhome- it was I who suggested that you change your name while visiting Foreclosure Hamlet all those years ago in 2009. And I am truly sorry that you are nearing the end of a long and heroic fight. As I recall, you were single then, and fighting by yourself. You’ve done well. And learned a lot.

    “ I’d rather die on my feet, than live on my knees”.

  4. Why are the state bars allowing the lawyers to aid and abet theft and fraud? And why won’t our lawyers help us the homeowners?

  5. I am having the same trouble java gold….3rd serivcer the substitute palintiff is different than the seriver???? th convolution just continues yet my house will be stolen. There is no rhyme or reason in florida. i am so sad 10 years of fighting coming to a close. I laugh becuase when i found foreclosure hamlet in 2009 they all forced ne into chaning my name from losing myhome in florida to saving my home.. I thought by I could save it but its not happening all the laws are against us???? FNM has procedures but the judge only follows state law and why would the state have laws re: note endorsement? modifications ? they dont need th eoriginal to foreclose? this is rediculous and very sad. To steal a home they should originals of everything

  6. How could a servicer who just showed up at the scene of the crime in the end to put their name as plaintiffs have any standing ever ?????

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