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NON-JUDICIAL CANCELATION OF LOAN DOCS: Rescission Litigation Coming on Many Fronts

Stan Burman:

Great blog post by Neil Garfield discussing his analysis of the Beach v. Ocwen Federal Bank case decided by the United States Supreme Court and how it relates to rescission litigation.

Originally posted on Livinglies's Weblog:

For further information please email us at neilfgarfield@hotmail.com or call 954-495-9867 or 520-405-1688.

This is not a legal opinion on any one case, even if the transaction is a Florida transaction where I am licensed as an attorney. Consult with licensed legal counsel before taking any action or deciding not to take any action. I advise people to obtain our Rescission Analysis Package (RAP) before taking any action in or out of court.

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see Beach v Ocwen Federal bank 692 so2d 146 (US Supreme Court).

Opposing counsel will rely on Beach v. Ocwen Federal Bank, 692 So. 2d 146, on certiorari to the Supreme Court of Florida and then to the Supreme Court of the United States, decided on April 21, 1998. My suggestion to attorneys is that they should use the same case (in addition to Jesinoski). In Beach, the “lender” did file an action or affirmative pleading…

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Widow’s Reverse Mortgage ‘Nightmare’ Underscores Lifeline’s Risks

Stan Burman:

Arlene Hill. an 82-year-old widow is fighting to keep the home she has lived in for 45 years due to being misled by a broker into signing documents to remove her name from title in order to qualify for a larger reverse mortgage.

Originally posted on Justice League:

Arlene Hill needed a financial lifeline. She thought a reverse mortgage would provide it.

Now the 82-year-old widow is fighting to keep the home she has lived in for 45 years.

Regulators have long been concerned that reverse mortgages — a type of home loan that allows older homeowners to access the equity in their homes and defer payment until they die, sell or move out – can put homeowners like Hill in financial peril. All too frequently, they say, brokers don’t clearly outline the potential risks of such an arrangement and homeowners don’t understand what they are buying.

Hill says that she was both confused about the terms of the reverse mortgage she took out on her Simi Valley, Calif., home and misled by a broker who was eager to close a sale.

In 2009, with her husband, Herb, unable to work after suffering a stroke and the onset…

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IlLINOIS AG ANNOUNCED $1 MILLION SETTLEMENT WITH SAFEGUARD PROPERTIES

Stan Burman:

Safeguard Properties, LLC has entered into a settlement with the Attorney General for the State of Illinois to pay $1 million dollars and to comply with 40 operating procedures when conducting inspections of homes in default or facing foreclosure. It is about time but if I were Lisa Madigan I would have held out for more money.

Originally posted on Justice League:

Homeowners Illegally Locked Out of Homes to Receive Restitution

Chicago — Attorney General Lisa Madigan today announced a $1 million settlement with Safeguard Properties LLC over allegations the company illegally locked Illinois residents out of their homes before a foreclosure was finalized.

Under Madigan’s settlement, Safeguard, a Delaware corporation based in Ohio, must pay $1 million, nearly all of which will be paid to Illinois residents who filed complaints over Safeguard’s practices. Safeguard must also follow 40 operating standards in conducting inspections and other services relating to Illinois properties set by Madigan’s office to ensure homeowners’ rights are protected.

Safeguard is the largest company in the country hired by mortgage lenders to determine whether homeowners in default or facing foreclosure are living in their homes. If a property is deemed vacant, Safeguard is responsible for securing and maintaining the property to ensure it does not lose value after it is…

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Rescission Litigation: 3 days from when? 3 years from when?

Stan Burman:

Another good blog post from Neil Garfield on the power of rescission and he also includes some great rules that he believes should be followed.

Originally posted on Livinglies's Weblog:

For further information please email neilfgarfield@hotmail.com or call 954-495-9867 or 520-405-1688.

This is not a legal opinion on any person’s case. Consult with licensed legal counsel in the jurisdiction in which your property is located.

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This wraps things up for the week, and a reminder that there is no show tonight.

I think the following rules should be applied to the letter of rescission. Remember that Congress explicitly stated that borrowers have the right to effectuate rescission with a mere letter. Congress did not state that the lenders could reject the rescission with a letter. They MUST file a legal action alleging whatever defects they wish to assert. Since the rescission is effective by operation of law it is ONLY through operation of law that the rescission could be vacated.

1. Don’t refer to the date of origination. You don’t know when your liability, if any, arose. You only…

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Tips for scheduling motion hearings in California eviction cases

Tips for scheduling motion hearings in California eviction cases are the topic of this blog post. The time frames in eviction cases in California are very short and therefore choosing the best day of the week to schedule a hearing on certain motions can make a lot of difference for a tenant facing possible eviction. This blog post will discuss my personal opinion as to the best days of the week in which to schedule a hearing on demurrers, motions to quash and motions to strike although some of the tips discussed herein may be useful for other motions as well.

A motion to quash service of summons is generally the first motion that is filed in response to a California eviction complaint assuming that the defendant contends that they were not properly served.

Any hearing on a motion to quash service of summons in a California eviction must be set for hearing within 3-7 calendar days from filing of the motion. See Code of Civil Procedure § 1167.4(a) and California Rule of Court 3.1327(a). If the motion to quash is served by mail than the hearing date may be extended to between 8-12 calendar days because of the additional 5 calendar days required by the provisions of Code of Civil Procedure § 1013. See California Rule of Court 3.1327(a). I want to stress that some Courts and Judges strictly enforce the 3-7 calendar day limitation so you should always check with the local Court clerk to verify the exact time limit allowed in their particular Court.

You also need to remember that some Courts only schedule hearing on motions in eviction cases on certain days of the week so you may not be able to choose the particular day that you want to. However there are some Courts that do schedule hearing on motion in eviction cases several days a week.

It is my personal opinion that the best day to schedule any responsive motion in a California eviction is Monday. My reason for choosing Monday is quite simple. Monday is the best day because even if the motion is denied the defendant has 5 calendar days to respond and 5 calendar days from Monday is Saturday. Code of Civil Procedure § 12(a) states that if the last day to respond is on a Saturday, Sunday or other court holiday then the time period to respond is extended to and includes the next day that is not a holiday. That means that the defendant will actually have until the following Monday or a time period of 7 calendar days to respond

Code of Civil Procedure § 12(a) states that, “If the last day for the performance of any act provided or required by law to be performed within a specified period of time is a holiday, then that period is hereby extended to and including the next day that is not a holiday. For purposes of this section, “holiday” means all day on Saturdays, all holidays specified in Section 135 and, to the extent provided in Section

12b, all days that by terms of Section 12b are required to be considered as holidays.”
The second best day to schedule any responsive motion in an eviction in California is Tuesday because 5 calendar days from Monday is Sunday. That means the defendant will actually have until the following Monday to respond or a time period of 6 calendar days to respond.

In my opinion every defendant in a California eviction should schedule the hearing on their motion whenever possible on a Monday or Tuesday. However I also realize that is not always possible.

The third best day to schedule a responsive motion in a California eviction is Friday because that means the 5 calendar days does not end until Wednesday meaning that the defendant not only has over the weekend to work on their response but does not have to file the response until Wednesday before the clerk’s office closes.

Another important issue to consider is to avoid scheduling any demurrer or motion to strike more than 35 calendar days from the date of filing and service of the motion unless that is the earliest date the clerk will give you. That is because some Judges will assume that your demurrer or motion to strike were only filed to delay the eviction and they may not only overrule your demurrer or deny your motion to strike but they may even sanction you. I want to repeat this again. Do NOT schedule a demurrer or motion to strike for more than 35 calendar days from the date of filing and service unless the clerk tells you that is the earliest date they can give you and believe me that rarely happens.

Attorneys or parties in California that would like more information on a California eviction litigation document package containing over 25 sample documents created and sold by the author of this blog post can use the link shown below.

California eviction litigation document package

To view over 300 sample legal documents for California and Federal litigation created by the author of this blog post visit:

View over 300 sample legal documents for sale

The author of this blog post, Stan Burman, is an entrepreneur and freelance paralegal that has worked in California and Federal litigation since 1995 and has created over 300 sample legal documents for California and Federal litigation.

*Do you want to use this article on your website, blog or e-zine? You can, as long as you include this blurb with it: “Stan Burman is the author of over 300 sample legal documents for California and Federal litigation and is the author of a free weekly legal newsletter. You can receive 10 free gifts just for subscribing. Just visit Free weekly newsletter for more information.

You can view sample legal document packages for sale by visiting Sample litigation document packages for sale

DISCLAIMER:

Please note that the author of this blog post, Stan Burman is NOT an attorney and as such is unable to provide any specific legal advice. The author is NOT engaged in providing any legal, financial, or other professional services, and any information contained in this blog post is NOT intended to constitute legal advice.

The materials and information contained in this blog post have been prepared by Stan Burman for informational purposes only and are not legal advice. Transmission of the information contained in this blog post is not intended to create, and receipt does not constitute, any business relationship between the author and any readers. Readers should not act upon this information without seeking professional counsel.

Quicken Loans and FHA Fight it Out on Illegal Loan Practices

Stan Burman:

Quicken Loans is criticizing the FHA over some of their new standards. Considering the number of lawsuits filed against Quicken Loans for predatory and deceptive loan practices I am not surprised that they do not like the new FHA standards.

Originally posted on Livinglies's Weblog:

For further information please email us at neilfgarfield@hotmail.com. You can also call 954-495-9867 or 520-405-1688

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see http://www.nationalmortgagenews.com/news/compliance/fhas-new-loan-defect-taxonomy-is-no-panacea-for-enforcement-woes-1054864-1.html

Not much time today for discussion but this fight between Quicken Loans, who pretended to be making loans even though they were just a naked nominee at loan closings, is instructive about what really happened.

REAL enforcement cannot begin until everyone starts with the right premise, to wit: that investment banks sold an IPO for thousands of inactive, empty entities and called them REMIC Trusts. No money went to the Trusts or the Trustees; and the investment banks, who are the only people who have proof of what happened with the same of mortgage backed securities, kept the money. No loan ever entered the trusts.

The money that appeared in loans to borrowers was received by the closing agent hours, days, weeks, months and maybe years after the borrower thought the closing…

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California Seminar Recommended — July 18

Stan Burman:

Foreclosure defense seminar coming up on July 18, 2015 in Anaheim, California. If I could make it to this seminar I would as will offer useful information. And the seminar offers 6 hours of CLE to attorneys in California.

Originally posted on Livinglies's Weblog:

Our Senior Forensic Analyst, Dan Edstrom and Jim Macklin are the presenters of a seminar along with Charles Marshall, Esq. who has been very active in foreclosure defense. I know them for years, trust them with all outsource work and analysis and I have prior experience with them as presenters. It is worth the trip and 6 hours of your time and the price is in keeping with the livinglies philosophy — just enough to pay for itself.

I strongly endorse the presenters and this seminar. Click on the link below and sign up now as I am quite sure that their small venue will fill up quickly.

https://www.eventbrite.com/e/7182015-anaheim-ca-6-hour-cle-seminar-relief-for-distressed-homeowners-tickets-8647834907?ref=estw

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