Welcome to The Home Equity Theft Reporter, a blog dedicated to informing the consumer public and the legal profession about Home Equity Theft issues. This blog will consist of information describing the various forms of Home Equity Theft and links to news reports & other informational sources from throughout the country about the victims of Home Equity Theft and what government authorities and others are doing about it.
Wednesday, June 20, 2012
Property Buyer Pursuant To Contract For Deed Sues Seller For Failure To Transfer Legal Title After Being Tendered Payment
In Galveston, Texas, The Southeast Texas Record reports:
Local resident Ivonne Elena Davila has filed suit against Flor Reyna of Spring for failing to provide documentation to real property in Texas City. A lawsuit filed June 7 in Galveston County District Court says Reyna, also known as Flor Orihuela, has failed to provide annual accounting statements to Davila for property on 11th Street as mandated by Texas law.
The original petition states that Davila demanded the defendant execute a warranty deed conveying the legal title to the property, tendered a promissory note and drafted a deed of trust.
According to court papers, Reyna contacted Davila's attorney and notified him "that she was willing to sign the deed and accept the proposed promissory note and the proposed deed of trust." The defendant also reportedly divulged that she had an attorney, but the suit states "no communication from the defendant to the plaintiff's counsel is appropriate or needs to be recognized."
Davila alleges her counsel repeatedly urged Reyna's to approve and sign the proposed documents to no avail. Failure to do so violates state law, according to the suit.
The plaintiff seeks a temporary injunction which prevents the defendant or anyone affiliated with her from "accelerating, maturing or canceling the contract for deed or threatening to do so" and at least $20,000 in attorney's fees.
CBC News: Betrayal of Trust (A CBC investigation reveals how lawyers across Canada have misappropriated and mishandled clients money, to the tune of tens of millions of dollars, or sometimes even charging vulnerable people top dollar for shoddy services)
Land Contract/Contract For Deed/Rent-To-Own Rackets
The New York Times: The Housing Trap (In the wake of the housing crisis, low-income families have turned to seller financing to buy homes but these deals can be a money trap)
Beware The Fine Print: Consumers Forced To Sign Away Their Rights To Use Court System
The NY Times: Arbitration Everywhere, Stacking the Deck of Justice(Part 1 in series examining how clauses buried in tens of millions of contracts have deprived Americans of one of their most fundamental constitutional rights: their day in court)
Foreclosure Mills' Abysmal Record In Complying With New NYS Foreclosure Requirements
Justice Deceived: How Large Foreclosure Firms Subvert State Regulations Protecting Homeowners
MFY Legal Services Report On Questionable Practices By Process Servers In Debt Collection Cases
Justice Disserved: A Preliminary Analysis of the Exceptionally
Low Appearance Rate by Defendants in Lawsuits Filed in the Civil Court of the City of New York
Mortgage Mess Redux: Robo-Signers Return (A Reuters investigation finds that many banks are still employing the controversial foreclosure practices that sparked a major outcry last year)
CNN Video: As Foreclosures Mount, Florida Court Turns To 'Rocket Docket'
The Wall Street Journal: A Florida Court's 'Rocket Docket' Blasts Through Foreclosure Cases (2 Questions, 15 Seconds, 45 Days to Get Out; 'What's to Talk About?' Says a Judge)
"Produce The Note" Strategy When Dealing With Missing Promissory Notes In Foreclosure Actions
ABC Video: Fighting Against Foreclosure (Some homeowners have found a new tactic to keep the banks at bay)
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