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Bank Lawyer’s Seminar: Rescission Changes Everything

The big banks are very worried about the power of rescission after the Jesinoski v. Countrywide decision. Dorsey & Whitney, LLP a law firm representing the banks gave a recent seminar and one of the readers of Neil Garfield’s blog somehow got him a copy of a PDF of the seminar presentation. This is great news for homeowners and bad news for the banks!

Livinglies's Weblog

QUOTE FROM SEMINAR: “The bottom Line: Until 3 years have elapsed, a mortgage is only as secure as the lender’s proof of compliance with TILA.”

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For more information please call 954-495-9867 or 520-405-1688

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see tila-right-of-recission-041415

From one of my readers, I received the Power Point Presentation given by a law firm representing the banks. It confirms everything I have been saying. It also offers a glimpse of some of the ways they will try to wiggle out of it. Suffice it to say that in addition to losing far more cases than what has been previously been reported, the banks are now stuck with a problem that they can’t fix, to wit: when they try to “securitize” a pool of new loans they cannot say that the deal is done because the borrower could assert a right to rescind triggering a nightmare of problems for all the parties…

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