• Archives

  • Blog Stats

    • 668,997 hits
  • Categories

Backing Banks Over Borrowers, California Judges Often Big Stakeholders in Same Banks

Judges in California often own stock in the big banks that are foreclosing on homeowners and often do not disclose that fact. That is outrageous and is one major reason that some courts routinely rule against the homeowners the great majority of the time.

Justice League

Sue your bank in California over a wrongful foreclosure, and the best you’re likely to get – if you have ironclad evidence that it broke the law – is a loan modification. That is, a “win” for the borrower usually means the bank keeps another customer and collects interest payments that are thousands of basis points above the level at which the bank is able to borrow from the Fed. Very often, however, homeowner lawsuits against the banks end in dismissal. In the parlance of the courts, the defendant’s demurrer is sustained. Judges in California’s superior courts often rule in favor of the banks, and the few lawsuits that filter up to the appeals courts and Supreme Court don’t fare any better.

Why do the banks keep winning in court against borrowers alleging wrongful foreclosure, fraud and other abuses? Many borrowers and their lawyers say there’s a judicial bias favoring…

View original post 1,383 more words

Advertisements

What is your opinion?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: