BreakingthePredatoryLenderMatrix3b | Foreclosure | Rescission

Breaking the Predatory Lender Matrix 3

By Jim Krage of www.AmericanLoanAudits.com Today, we will review 7 pages from before, Then pages 9-17 will cover Tactics for Fighting Predatory Lenders in Court: 1) Causes of Action, 2) Procedural Blocks 3) Stopping Unlawful Detainer Eviction 4) Consolidate and prove Buyer is not ³Bona Fide Purchaser for Value without Notice´ 5) Finally, 2 Sample Dismissals of UD

and Trust Bought the Note Notice´ Nominal Lender now bankrupt. Short Sale. Lenders lent Credit. so Servicer or Trustee foreclose MERS not Beneficiary. Lawsuit.Breaking the Predatory Lender Matrix 3 By Jim Krage of www. Lenders got Commissions to lie ³Bona Fide Purchase for Value without No Disclosure that Lender didn¶t Loan. 08±Lenders & Trusts are crashing NOW Lehman conned Investors to pay ± 30% bought Notes.) What www. because it paid insurance against defaults Did the investors in your Trust get insurance ± why foreclose? Loan Audits find Violations (& may get Trust Name) Homeowner Options (Loan Mod. but often Assigns & Substitutes illegally AIG got bailed out.. 70% profit? PreviouslyResult = Buyer is not a (pre-2005).com What we discussed last time: 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 12) 13) Depression was caused by Lenders & Wall Street (Lehman) Lehman crashed Sept.AmericanLoanAudits.AmericanLoanAudits.com does for you . not Money 2005-2008 Trusts bought Notes.

Past Mistakes in FOREX: many bought EUROs ± Canadian $ and some small currencies were Better Gold and Precious Metals skyrocketed ± Real Estate is now cheaper. Hard Money Loans have gone into Foreclosure massively. KFWB ± Market Wrap with Moe Ansari ± Sat 12 Noon ± Predicted new Downturn to DEPRESSION ± Option ARM ‡ ‡ ‡ ‡ Probably DEPRESSION with Hi Inflation ± Dollar Will Lose Value. and may get cheaper still.AmericanLoanAudits. State Laws TOOLS #3: Audit Recorded Documents±Assignments.com ‡ Foreclosure Sales are Avalanching from Predatory Lending: ‡ Since October 2008. Option ARMs are predicted to start a new Cataclysm. Negative Amortization. ‡ Now. NOD. Lack of Disclosures YSP (Yield Spread Premiums) ± Lender bribed Broker to get Borrower to accept Higher Interest Rate If you have a Predatory Mortgage. Interest Only Periods. Prepayment Penalties. Substitutions. RESPA. Balloon Payments. Trustee¶s Deed . Good Lawyers doing Loan Mods get an Audit of Loan Docs and Sue to wake up Negotiations. Notice of Sale. eveything will be more expensive. File a Lis Pendens (for your Complaint filed) = CLOUD TITLE TOOLS #2: Forensic Audit of Origination Loan Documents for Violations of TILA. TOOLS #1: File a Rescission. what can you do?: 1) Sell it (Lose Money or Bank agrees to take less) 2) Bankruptcy (Adversary Proceeding or Reformation) 3) Offer a Deed in Lieu of Foreclosure 4) Short Sale to a Friend 5) Sue the Lender 6) Short Refinance 7) Loan Modification (often turned down ± won¶t lower principal) ‡ ‡ ‡ ‡ ‡ Short Sales and Loan Modifications with TEETH are most popular.Breaking the Predatory Lender Matrix 2 By Jim Krage of www. Predatory Mortgage Loan elements = Variable Interest.

Breaking the Predatory Lender Matrix 2 By Jim Krage of www.com Short Sales and Loan Modifications with TEETH are most popular. NOD. Notice of Sale. unless they are in a Lawsuit) 3) If an Audit of Recorded Docs finds errors. State Laws TOOLS #3: Audit Recorded Documents±Assignments. RESPA.AmericanLoanAudits. File a Lis Pendens (for your Complaint filed) TOOLS #2: Forensic Audit of Origination Loan Documents for Violations of TILA. the Sale may be reversible (Often Eviction by Unlawful Detainer can be stopped) (Results can be used for Quiet Title and Wrong Foreclosure Procedure Causes of Action in a Lawsuit) . Substitutions. Trustee¶s Deed Check with a Lawyer to see what¶s Best for You: 1) Rescinding the Contract (Note) and all documents based on it (like the Trust Deed) = can remove the Security of the Deed of Trust (The Rescission may need to be validated by a Judge for full effect) 2) If a Loan Audit finds Violations in Origination Loan Docs = Leverage (Some Lenders will ignore Audit Findings. ‡ ‡ ‡ ‡ Good Lawyers doing Loan Mods get an Audit of Loan Docs and Sue to wake up Negotiations. TOOLS #1: File a Rescission.

Fraud.Breaking the Predatory Lender Matrix 2 By Jim Krage of www.AmericanLoanAudits. and a CE Audit] .com ‡ Some Reasons to Rescind ± then Examples: ‡ 1) TILA Violations of Notice of Right to Cancel (for Refi¶s TILA offers 3 years to Rescind) ‡ 2) TILA Violations of APR (for Refi¶s TILA offers 3 years to Rescind) ‡ 3) TILA Violations of undisclosed Finance Charges (for Refi¶s TILA offers 3 years to Rescind) ‡ 4) Violations of Misrepresentation. Consideration (Calif. Civil Code 1689 & 1691 allow Rescission) ‡ Rescission can Void the Security Interest of the Lender (Always check with a Lawyer for What¶s Best for You) ‡ [NEXT = 2 Notices of Right to Cancel with no Date.

Lehman got people to invest.com In these Securitization Trusts. Lehman and the ³nominal Lender´ fraudulently misrepresented the actual nature of the transaction to defraud both the investor and the homeowner.Breaking the Predatory Lender Matrix 2 By Jim Krage of www. and bought the notes outright without disclosing it to the homeowner. .AmericanLoanAudits. used 70% for commissions & reserve funds (to pay investor back partially ± to keep µem quiet). used 30% to buy notes. The Lender got a Commission to be a Front by putting its name on Note and Trust Deed.

com More and more Foreclosures are happening. If you¶re lucky enough to get a good judge. All of the above should be VOIDABLE. Audits help you know.AmericanLoanAudits. Often MERS signs Assignments and Substitutions of Trustee as Beneficiary. you may win in court in the above circumstances. you may stop the Foreclosure Sale or the Unlawful Detainer Eviction. Get a Lawyer to present it. if you present it properly. .Breaking the Predatory Lender Matrix 2 By Jim Krage of www. where the Servicer is foreclosing without even an Assignment to them. Sometimes.

AmericanLoanAudits. Wells Fargo.com Are YOU or a FRIEND in Foreclosure? Who is Foreclosing? 1) The ³Lender´ on the Note? 2) The Servicer? (Aurora. Litton. etc) 4) Was an Assignment recorded to them? 5) Was the Substitution of Trustee proper? 6) Who signed the Assignment & Substitution? 7) Was FRAUD at inception and in foreclosure? . OneWest.Breaking the Predatory Lender Matrix 2 By Jim Krage of www. Chase. etc) 3) The Trustee? (Deutsche Bank.

3 courts to sue a) State Court (Complaint) b) Federal District Court (Complaint) c) Federal Bankruptcy Court (Adversary Proceeding) .Breaking the Predatory Lender Matrix 2 By Jim Krage of www.AmericanLoanAudits.com ‡ ‡ ‡ ‡ Stop Banks w/ Lawsuit .

Finance Code.com Causes of Action in a Complaint : ‡ a) Fed = TILA (HOEPA). Improper foreclosure Procedure. RESPA. . Unfair Business Practices. Fraud.Breaking the Predatory Lender Matrix 2 By Jim Krage of www. FDCPA ‡ b) State = Quiet Title.AmericanLoanAudits.

Breaking the Predatory Lender Matrix 2 By Jim Krage of www. 60 days to answer) ‡ 3) FDCPA 15 USC 1692 . undisclosed Finance Charges.com ‡ Federal Causes of Action in a Complaint : ‡ 1) TILA .if you dispute debt 30 days after NOD (Notice of Default) .if APR wrong.AmericanLoanAudits. bad Notice of Right to Cancel ‡ (HOEPA = if high interest rate) ‡ 2) RESPA .if they ignored QWRs you sent ± (20 days to Acknowledge.

com ‡ (some) State Causes of Action in a Complaint: ‡ 1) Quiet Title ‡ 2) Improper Foreclosure Procedure .B&P 17500 ‡ 6) Finance Code ‡ 7) Usury (?) .no disclosure / false disclosure ‡ (specify ALL elements ± Lazar v Superior Court) ‡ 4) UCL ± Unfair Competition Law ‡ a) Unfair Business Practices .B&P 17200 ‡ b) Unfair Advertising .Breaking the Predatory Lender Matrix 2 By Jim Krage of www.AmericanLoanAudits.violations of Civil Code ‡ 3) Fraud .

other .AmericanLoanAudits.com STOP EVICTION AFTER FORECLOSURE ± UNLAWFUL DETAINER ‡ Allege Plaintiff has No Standing: a) Trustee's Deed not recorded in 15 days b) DBA not current c) no Assignment d) no standing .Breaking the Predatory Lender Matrix 2 By Jim Krage of www.

Breaking the Predatory Lender Matrix 2 By Jim Krage of www.com STOP EVICTION AFTER FORECLOSURE ± UNLAWFUL DETAINER ‡ Allege Plaintiff used Wrong Court Procedures -> (if you didn't file a complaint) file a Demurrer: 1) Summons not Served properly (Motion to Quash) 2) Faulty Eviction Notice 3) Plaintiff is not the proper party (not beneficiary) 4) Not Perfected Title (this is summary proceeding) 5) Improper Verification .AmericanLoanAudits.client didn't verify ± lawyer verified (& branch in same county) .

AmericanLoanAudits.Breaking the Predatory Lender Matrix 2 By Jim Krage of www.other .com STOP EVICTION AFTER FORECLOSURE ± UNLAWFUL DETAINER ‡ Allege Plaintiff has No Standing: a) Trustee's Deed not recorded in 15 days b) DBA not current c) no Assignment d) no standing .

com STOP EVICTION AFTER FORECLOSURE ± UNLAWFUL DETAINER (UD) ‡ File a Complaint ‡ File a Notice of Related Cases (w/UD) ‡ Consolidate the Complaint and UD .AmericanLoanAudits.Breaking the Predatory Lender Matrix 2 By Jim Krage of www.

5 violation.AmericanLoanAudits.to ³Cloud Title´ 3) Hand out Notices at Auction .Breaking the Predatory Lender Matrix 2 By Jim Krage of www.com STOP EVICTION AFTER FORECLOSURE ± UNLAWFUL DETAINER (UD) Steps to Prove that Foreclosure Buyer is not a ³Bona Fide Purchase for Value without Notice´ 1) Prove that Foreclosure sale Buyer was not a Bona Fide Purchaser for Value 2) Record Lis Pendens. Notice of Civil Code 2923. Preservation of Interest. Rescission. etc .

. 3) We provide a Qualified Written Request to try to get the Trust Name and other Docs 4) We work with your lawyer. we can help: 1) We Audit Origination Loan Docs in 2 Steps: a) A Compliance Ease Audit to recalculate APR.AmericanLoanAudits.com.Breaking the Predatory Lender Matrix 2 By Jim Krage of www.AmericanLoanAudits. which some don¶t want to hear. including the Trust.com At www. to help them understand the potential issues. etc b) A Manual Audit that scours the documents 2) We also check Recorded Docs for errors.

AmericanLoanAudits.com/fraud/ Watch our Sept.com/video/ A video of this 1/23/10 Presentation will be posted soon. 2009 Video at: http://www.com If you want help.Breaking the Predatory Lender Matrix 2 By Jim Krage of www.americanloanaudits. 2. call Jim at (562)867-3230 or visit www.AmericanLoanAudits.com Read more about Securitization Trusts and the current situation at: http://www. .americanloanaudits.

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