TILA Rescission Is Law of the Land: It Might Also Be Dead

The recent denial of certiorari by SCOTUS of a clear case that was a virtual mirror of the case presented in 2015 in Countrywide v Jesinoski, shows that the courts are  going to deny rescission rights under 15 USC §1635.

This leaves borrowers naked in the wind. There is no longer any effective enforcement mechanism for the hard fought rights of borrowers to receive real disclosure of the true nature of their loans.

I won’t say that you should not use it in your pleadings because it still is law, and it is clear and unambiguous as a unanimous court held in Jesinowski. But as of now, the refusal of the court system to apply the law is complete, including SCOTUS.

The fact that it is wrong on so many levels is irrelevant. Every society must live in a system and ours allows for bad decisions. Bad decisions are still final. My suggestions to practitioners is don’t bang your head against this wall any more.

Perhaps the way around this is a modified adaptation of the AMGAR plan in which an offer is made to pay off the entire amount demanded — provided that the new lender receives disclosure of the creditor who paid value in exchange for ownership of the debt. My opinion though is that the offer must be real — i.e. based upon actual funding.

6 Responses

  1. Another example of where OUR(???) Judiciary has decided to rule “against the written Law”… leaving all of “We the People” wondering just what the rules to this Society are(?)…. again.


    the exercise of absolute power, especially in a cruel and oppressive way. “the King’s arbitrary despotism”

    tyranny dictatorship totalitarianism authoritarianism
    absolute rule absolutism oppression repression suppression
    autocracy monocracy autarchy


    a country or political system (like our Courts?) where the ruler holds absolute power.

  2. I don’t know what case it is. Don’t even pay attention anymore because insane. But when I hear – no one is to worry about coronavirus unless over 60 – and , in effect that is no worry if they become ill or die – I worry. Seniors one of the most abused people In U.S. Fraudsters wanted their equity. They wanted senior homes. But media now tossing off them as irrelevant. Tossing off seniors , those with cancer, those with compromised immune systems, heart problems, diabetes, etc. These are people targeted to begin with. Hate to say it – have children and nieces and nephews who are young. Love them to pieces but they don’t often know what they are doing. Sorry. Need seniors. Thanks.

  3. Please, what is the case the SCOTUS denied cert?

  4. Re-posting comment under SIT-SAW.

    Nothing will work in courts. The situation is bad. There is no way that SCOTUS, or any court, will revisit badly formed laws by Congress. These were set up against the consumer/borrower from the onset. Our representatives are — GIVE ME A GOOD WORD.

    There was no REAL “note” — just a transfer of FALSELY declared default debt at so- called “origination.” The banks went after the one source of wealth after Congress gave away manufacturing to the rest of the world to benefit the CEOs. They targeted the American home. And, it is not manufacturing that caused the coronavirus. So much for the EPA.

    It does not matter what the “trust” agreement says. By law, the “trustee” is the legal holder of EVERYTHING. But, as Neil points out – the “Trust” agreement refutes this. All in violation of well established law. So are the “Trusts” in violation – as they do NOT comply with Rules and Regulations for pilot program established at the beginning of the fraud. It was ignored. .

    So here we sit — over ten years later – with the Coronavirus being a wake up call. It was impossible for the U.S. markets/economy to keep thriving while the rest of the world struggles. But it did. The policy to adjust rates, and keep low, was to cover-up the real problem in the economy. It was a band aid to the financial crisis, and that band aid just further accelerated transfer of wealth. That band aid has come off. There are no “tools” to fix.

    With NAFTA – we not only gave away the “store” — we import economically, and physically, from around the world. All was set up for the benefit of CEOs — who control Congress (I think we need Congress to take some ongoing financial/economic courses — you know, like is required for many professionals – they need it).

    We are humbled by the coronavirus. Now oil involved. Rates involved. Economy involved. I don’t have the answer. Maybe –toss every representative out and start anew.

    The sky is falling, and if there is any “bounce-back” – that too will be manipulation – for how long?

    Thanks. . .

  5. Hallelujah.

    The problem is in the Court, not in the banks. Banks merely use the opportunity to steal provide to them by Judges

  6. “Perhaps the way around this is a modified adaptation of the AMGAR plan in which an offer is made to pay off the entire amount demanded — provided that the new lender receives disclosure of the creditor who paid value in exchange for ownership of the debt. ”

    I can do this in my current situation but I am not following how this helps me. when I sent the rescission, the mortgage was void ab initio meaning no new interest or payments were due pending my offer of tender. How then does this AMGAR workaround get rid of the arrears the new parties taking over for the failed lender who act as if there is no rescission in force?

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