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.
Monday, February 22, 2016
Central Florida Homeowner On Beating Standing-Lacking, Foreclosing Bankster: "I Haven’t Gotten A Phone Call Or Foreclosure Notice In Years!"
In Central Florida, WKMG-TV Channel 6 reports:
A handful of Central Florida homeowners have defied the odds doing what most people only dream of: they walked away from their mortgage.
Audrey Sterling battled foreclosure for 8 years first filing bankruptcy then challenging the fifth lender to hold her mortgage, Nationstar Bank, to produce the “original promissory note.”
“I haven’t gotten a phone call or foreclosure notice in years," she said.
Sterling says the bank couldn’t prove they had a right or “standing” to collect on the mortgage because they couldn’t produce the signed note. It was never assigned from the previous lender.
Under Florida Statute 702.015 the lender must produce the “original note” or “promissory note” not a copy.
While banks will fight and appeal that strategy for years those consumers willing to endure the emotional toll could end up like Sterling living in the place she’s called home for the last 10 years with no monthly mortgage and no debt collectors at her door.
“Once you learn the system and what they’re doing it makes sense, and that’s how I learned how to get them.”
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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