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Is Appraisal Fraud Still a Valid Claim?

Livinglies's Weblog

It should come as no surprise that 10 years after the crash, Bloomberg reports that most U.S. homes are worth less now than before the crash, with many homes worth less than when they were purchased or refinanced long before the crash. Appraisal fraud was thus institutionalized to the dismay of the licensed appraisers and subsequent “drive-by” appraisals done by real estate agents. The question is whether this fraud is NOW actionable. I think it is.
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Get a consult! 202-838-6345
https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments.
THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.
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Based on over one hundred years of analysis and research, most economists agree with the Case-Schiller conclusion that in the end, the fundamental factor in housing prices is median income of people who own or would like…

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“Illegal Loans”

Livinglies's Weblog

Lots of loans have provisions that are illegal. As far as I know the only illegal provision of a loan that could make debt, note and mortgage go away, i.e., becomes void in its entirety (versus the provision containing the illegal language), or that entitles the borrower to recover all his payments or more is a usury statute in a state where the statute specifically provides that remedy. Thus negative amortization is illegal in many states (see below). But depending upon the statute, and the case law of each state, my opinion is that the provision in the note that contains the offending language is probably void as being against public policy. But be careful what you wish for. What happens next?

Get a consult! 202-838-6345
https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments.
THIS ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL…

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