Our Ignorance Has Created a System That Chills Homeowner Access to Courts and Attorneys

The real problem is that stockbrokers masquerading as investment banks have committed the greatest economic crime in human history and have managed to cover it up by huge investments into the system wherein they control the narrative. Where everyone is ignorant of the complexities of Wall Street finance, they look to Wall Street to explain the events. Instead, they should be asking about the facts supporting the questions at hand: If there is an unpaid debt that you are trying to cover, then let’s see the accounting ledger showing the loan account receivable and the debits and credits to that account.
[Practice HInt: Don’t accept the payment history as that ledger or account receivable. It isn’t, unless a witness from the designated claimant or plaintiff with personal knowledge, can say with certainty that the accounts were outsourced to the servicer. They aren’t.  While there is an outsource it is to third-party vendors and not the self-proclaimed servicer. It is also hearsay on hearsay when you think about it and lacking in foundation unless you blindly assume that the foundation exists. The payment history does NOT start with the establishment of an account receivable nor does it end with payment to a legal creditor. Those elements are always missing. ]
As a direct result, every judge, regulator, lawmaker, and even homeowners and most attorneys believe at the outset that a debt exists and that it is owned by the Plaintiff. Any defense is seen as “wiggling” through technicalities. Any homeowner victory is a bone thrown to due process and equal protection for PR reasons.
The questions should at least be asked why it was “necessary” to falsify millions of documents if there was an actual transaction that met the required attributes of a loan transaction and whether, even if the loan had occurred, if it was still a loan or a debt at the time of the foreclosure. The question should be asked why a custodian of the accounting ledger of the designated creditor does not produce testimony or affidavit along with the ledger like in the old days.
The reason the courts, lawmakers, and regulators were so amenable to demands or influence to be used against good foreclosure defense lawyers who might expose the reality, is that the Wall Street entities had invested literally billions of dollars to push the message that the loans were real, the debts were real and the designated plaintiff, even if not exactly conforming to law, was a proper vehicle to give relief to the owners of an unpaid debt. This eventual recompense is assumed to exist even though the “real” creditors are not known.
What would have happened if successful efforts had resulted in a growing awareness that the use of a designated creditor was unlawful and was covering a larger scheme where the profits, already in extremis, were only be augmented by foreclosures instead of debts being paid. How many documents would have retained the presumption of authenticity and validity? And how many lawyers would have been disciplined within the context of an assumption that they were merely weaponizing the system against itself? Take away that assumption and you see the lawyers in a very different light (and their clients).
As seen from “above” such lawyers are not real attorneys because they are bottom feeders who take money from the economically depressed in the vain hope of retaining the homestead. They should be seen as heroic and leading an important fight against ignorance and greed. As such, minor transgressions, even if proven, would lead to minor discipline. Instead, many lawyers who have practiced foreclosure defense have been disciplined and otherwise barred or discouraged from ever taking a case in which they could defend a foreclosure.
This is why few homeowners are able to reach a lawyer who knows enough to challenge the foreclosure on its merits, contesting the basic premise of even whether the proceeding qualifies as a foreclosure. Few homeowners are able to retain a lawyer, even if they have the means, who will attack the documents and the money trail, and ask, with follow up, “who is the owner of my alleged debt?”
Thus Wall Steet is able to create a fictitious self-fulfilling prophecy. They are in full control and they use it. So when some lawyer comes along who starts winning cases regularly causing some judges to wonder why the “banks” can’t get it right, they MUST attack. But like everything else in the world of smoke and mirrors created by Wall Street bookrunners, they do it through intermediaries like the Bar association, and then the State Supreme Court which can’t be bothered and which rubber stamps the “prosecution” (sans due process and equal protection) for disciplinary violations.

Nobody paid me to write this. I am self-funded, supported only by donations. My mission is to stop foreclosures and other collection efforts against homeowners and consumers without proof of loss. If you want to support this effort please click on this link and donate as much as you feel you can afford.

Please Donate to Support Neil Garfield’s Efforts to Stop Foreclosure Fraud.


Neil F Garfield, MBA, JD, 73, is a Florida licensed trial and appellate attorney since 1977. He has received multiple academic and achievement awards in business and law. He is a former investment banker, securities broker, securities analyst, and financial analyst.

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One Response

  1. How and why does the U.S. Government allow this to continue? The reasoning goes like this: When the crisis hit, Wall Street’s fraud was put on the table. At first, by accounting rules under FASB, the “banks” were required to take the off-balance sheet “trusts” back onto their “on” balance sheet. But, the banks could not do this because the claimed loans in the “trusts” were never on anyone’s balance sheet.
    There was no “account” to take them back to. So the government had to bail out, and purchase the fake securities from the fake trusts themselves. Hence, the government was aware of the lack of accounting. The government also knew there would be foreclosures, so, eventually they pushed modifications – which were few and far between and just continue the fraud.
    How did they justify all this? They claim they did it to save the economy. That is, we were told the financial markets would collapse if the government did not act. That is debatable, but there were (are) trillions of dollars in these fake loans which include derivatives upon derivatives, and the biggest business in the world – debt buying. And, what else did those in control decide to do? Tell the people that they “bought too much house.” And, that they used their house like an “ATM machine.” And, they did not deserve the loan in the first place.
    What did all this accomplish? More servicing fraud, more fraud in courts, more people losing their homes through no fault of their own.
    Nearly every single court case you read, the courts are still under the false impression that the trustee is represented, and the trusts are valid.
    Each and every case based on this is false.

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