Legal Articles

INSULTED JUDGE'S REVENGE

DEUTSCHE BANK LOSES KEY SUBPRIME FORECLOSURE CASE

November 15, 2007 -- A ticked off federal judge in Cleveland could complicate the subprime mortgage mess.

In a recent ruling, Judge Christopher Boyko tossed out a bunch of real estate foreclosure claims made by Deutsche Bank because he said the Wall Street firm couldn't prove that it was the owner of the property.

Worse for Deutsche Bank, a trustee for the mortgages, Judge Boyko took exception when the bank's attorney claimed the jurist just didn't understand how the complicated mortgage business works. Boyko's ...
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posted by MORTGAGE AUDIT SERVICE December 15, 2008 9:09 PM

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Dealing with the Mortgage Mess

Dealing with the Mortgage Mess Judge Tchaikovsky Does Her Job and Judges

Thursday, May 29, 2008

This is a big deal, and will no doubt strike real fear in the hearts of stated-income lenders everywhere. Judge Leslie Tchaikovsky ruled that a National City HELOC that had been "foreclosed out" would be discharged in the debtors' Chapter 7 bankruptcy. Nat City had argued that the debt should be non-dischargeable because the debtors made material false representations (namely, lying about their income) on which Nat City relied....The court agreed that the debtors had ...
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posted by MORTGAGE AUDIT SERVICE November 10, 2008 10:15 PM

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Prohibiting “Foreclosure Consultants”

Those Who Say They Can Get Your Loan Modified, Prevent, Postpone, Or Reverse The Effect Of Such Foreclosure With Your Lender For A Fee.

On July 23, 2008 the U.S. House of Representatives passed the most comprehensive response yet to the American mortgage crisis by a vote of 272-152. The American Housing Rescue & Foreclosure Prevention Act, H.R. 3221, is intended to help families facing foreclosure keep their homes, help other families avoid foreclosures in the future, and help the recovery of communities harmed by empty homes caught in the ...
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posted by MORTGAGE AUDIT SERVICE August 24, 2008 9:12 PM

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