Mitan v. Federal Home Loan Mortgage Corp., No. 12-1168, (6th Cir. Dec. 12, 2012) Michigan law distinguishes between foreclosures with notice defects and those with “structural defect[s] that go to the very heart of defendant’s ability to foreclose by advertisement in the first instance.” Davenport, 739 N.W.2d at 384. Notice defects render a foreclosure voidable. […]
This is the National Consumer Bankruptcy Rights Center’s post on a Michigan trial court’s finding of a debtor’s standing to show that HSBC did not own the note or mortgage: Debtor Has Standing to Argue Failure to Comply with Terms of PSA Posted by NCBRC – December 20, 2012 A Michigan state court found that […]
Lots of action in the foreclosure world this week… Must see TV PBS Frontline The Untouchables Did this show’s airing on Tuesday lead to Lanny Breuer’s resignation from the Dept. of Justice? Must read posts: Yves Smith at Naked Capitalism’s Series on Independent Foreclosure Review Whistleblowers Bank of America Foreclosure Reviews: Whistleblowers Reveal Extensive […]
We are caught in an inescapable network of mutuality tied in a single garment of destiny. Whatever affects one directly affects all indirectly.” ” . . . there are two types of laws: There are just laws and there are unjust laws. I would be the first to advocate obeying just laws. One has not […]
AIG “sold” (was bailed out) a huge portfolio of residential mortgage-backed securities to the Fed via the Maiden Lane vehicles. AIG claims that it retained its tort claims against Bank of America. Therefore: In August 2011, AIG filed a $10 billion lawsuit against one of the most blatant offenders, Bank of America and certain […]
I got these links from Barry Ritzholtz’s Morning Reads on the Big Picture: • The latest foreclosure horror: the zombie title (Reuters) see also Bank Deal Ends Flawed Reviews of Foreclosures (NYT) Don’t read that New York Times article if you need to be in a good mood.
Hooray, here’s a lament by someone other than me regarding the weird tendencies to treat homeowner foreclosure litigation as second-class litigation, applying different legal standards to homeowners than to everyone else. This is from a post on the Family & Consumer Law Blog and the full article is here: Courts too frequently have treated foreclosure […]