What Does Your Lender Think About Your Rights?

3 Mar

 

What lawyers who represent lenders and loan servicers really think about your attempt to fight to save your home from foreclosure.

Here is a recent email exchange I had with one of the large lender/loan servicers in regard to asserting my Client’s Truth in Lending rescission rights.

This email allows you to get a little flavor of what the big bad bailed out banks think about helping other people who need a bailout.

HERE WAS HIS EMAIL QUESTION TO ME:

It is a mystery to me why lawyers get involved with clients simply to delay the inevitable.  The only reason I’ve been able to fathom is that the lawyer gets paid instead of the bank, while the borrower continues to live in the house.  Doesn’t seem like a good way to keep one’s malpractice insurance premiums down.

I’m not suggesting that is what you’re doing here.  However, XXXXXXX must protect itself and the loan owner from such pointless shenanigans.

I’m not aware of a new date for the foreclosure sale, but this doesn’t mean that one hasn’t been set……

NOTICE HOW HE SEEMS INTENT ON LECTURING ME ABOUT MY MALPRACTICE INSURANCE AND ASSUMING EVERYTHING IS INEVITABLE.  IN HIS WORLD, THERE IS NO TAKING ON THE BANKS, NO QUESTIONING THE BANKS, NO DEFIANCE THAT WILL BE TOLERATED BY THE BANKS, THEY GOT THEIR MODIFICATION BUT HOW DARE YOU TRY TO ASSERT YOUR LEGAL RIGHTS, ESPECIALLY WHERE VALID TRUTH IN LENDING RESCISION RIGHTS WERE PRESENTED AS PROOF TO THIS GUY.  HERE IS MY RESPONSE TO THE GENTLEMAN.

XXXXXXXX,

 

I can appreciate your position here are a few mysteries I am looking for answers to:

(1) Why when banks get bailed out big time, do they act like no homeowner deserves a decent bailout?

(2) Why in all of my cases where I find a bona fide Truth in Lending (“TILA”) violation, does the lender always either (a) deny that the violation exists in the face of attached documentary evidence, or (b) refuse to even respond to a TILA rescission letter?

(3) Why do lenders/loan servicers routinely fail to address the question of who actually owns the loan? Or provide proof of such?

(4) Why do loan servicers routinely fail to respond, or fail to respond in a timely manner, to legitimate qualified written requests under RESPA?

(5) Why are lenders refusing to do short-sales at or near fair market values only to find that they get less at a foreclosure sale?

(6) Why are lenders/loan servicers routinely making blatantly false declarations under California Civil Code Section 2923.5?

(7) Why is California Civil code section 2923.6 routinely violated?

(8) Why do “lenders” continue to try to collect payments where the loan in question was already paid off via insurance, bailout money etc.?

(9) Why is it that MERS continues to try to pretend it is a beneficiary and foreclose on people?

(10) Why is it so many substitutions of trustee are invalid and the resulting Notice of Default invalid and not in compliance with California Foreclosure Laws?

(11) Why is it that other lawyers who represent banks (who are making out pretty nicely for their efforts) complaining about other lawyers who are fighting for Clients who want to keep their houses and exercise legal rights that they clearly have?

(12) Why won’t attorneys for lenders/investors be honest about sale dates?  Is there truly something to hide or is it a total lack of respect for attorneys who represent deadbeat homeowners?

As a lawyer, I am sure you are aware there are two sides of the coin here.  It is not a black and white issue.  Can you send me proof of who the owner of this loan is in the form of an indorsed promissory note that your client is in possession of?  I have not seen any proof.  Seriously, do not fault us for fighting for the rights of homeowners who are often facing severe financial hardship (usually for reasons out of their control – like a bogus economy), and who are fighting to keep a roof over their head, and using the legal rights the law affords them to fight the system that was setup to defeat them.

To your malpractice claim assertion, it is malpractice NOT to identify, stand-up and assert my Client’s legal rights – whatever you may think of them.

If you do not want to be straight up and inform us of the new sale date, and if foreclosure is inevitable, why not just tell me there is nothing that is going to be done, and the sale will occur whenever your Client feels like it.  I can live with that if you want to be honest.  If that is the truth let’s talk honestly about it.  I can handle the truth!

(parts omitted due to client confidentiality)

You are a beneficiary of this system partially created by your Clients, so I would not be flabbergasted by what you are dealing with.

This is a typical day in the life of dealing with big banks and fighting for our clients using every law that we can think of that may help in the fight to save a home from foreclosure.

Going hand in hand with this article, here is another post we posted discussing other reasons we work so hard to battle these banks:

Phoenix Foreclosure Defense Attorney strives to put the “TRUTH” back in Lending!

Some people have asked me, why are you passionate about foreclosure defense and helping Arizona homeowners? One of the answers I like to give is the following:

OUR MISSION: “WE ARE FIGHTING FOR “TRUTH IN LENDING” (a strange concept, i know!):

(1) WE ARE FIGHTING FOR TRUE AND ACCURATE DISCLOSURE OF A LOAN PRODUCT, ITS NATURE, AND TERMS (TELL PEOPLE THE TRUTH ABOUT THE LOANS THEY ARE LOCKING INTO). GIVE THEM THE CHARMS BOOKLET AND CALIFORNIA ARM DISCLOSURES

(2) WE ARE FIGHTING FOR TRUE AND FAIR DISCLOSURE OF THE PRICE-TAG FOR THE LOAN (APR AND FINANCE CHARGES THAT ARE TRUE AND ACCURATE). ACCURATE TRUTH IN LENDING STATEMENTS

(3) WE ARE FIGHTING FOR FAIR AND ACCURATE DISCLOSURE OF THE RIGHT TO CANCEL THE LOAN WHEN APPLICABLE (GIVE PEOPLE THEIR REQUIRED COPIES AND GIVE TRUE DATES UPON WHICH LOANS CAN BE RESCINDED)

(4) WE ARE FIGHITNG FOR FAIR AND HONEST UNDERWRITING THAT IS BASED UPON A CLIENTS TRUE ABILITY TO REPAY A LOAN (WHICH MAY MEAN VERIFYING INCOME AND TELLING SOME PEOPLE THEY DON’T QUALIFY) AND TRUE AND ACURATE APPRAISAL OF PROPERTY THAT SUPPORTS THE UNDERWRITING.

(5) WE ARE FIGHTING FOR FULL DISLCOSURE OF THE HOLDER OF THE LOAN (INVESTOR) AND PROOF AS TO WHO OWNS THE RIGHT TO BE PAID, AND THE RIGHT TO FORECLOSE, AND WHO MUST BY LAW CONTACT CALIFORNIA HOMEOWNERS TO DISCUSS LOAN MODIFICATIONS AND ASSESS BORROWER FINANCES.

(6) WE ARE FIGHTING FOR FULLFULL AND FAIR ACCOUNTING FOR PAYMENTS, LATE FEES, ESCROW CHARGES, AND OTHER CHARGES IN THE LOAN SERVICER’S BACK-ROOM. ANSWER THOSE QWR’S ON TIME, AND IN UNDERSTANDABLE DETAIL. STOP REPORTING NEGATIVE CREDIT DURING THIS PERIOD.

(7) WE ARE FIGHTING FOR HONESTY AND “TRUTH IN TRIAL PLANS” – IF HOMEOWNERS DON’T QUALIFY FOR A MORTGAGE RESTRUCTING / LOAN MODIFICATION, DON’T SEND THEM A TRIAL PLAN THAT LEADS THEM TO BELEIVE THEY DO. IN ADDITION, BE TRUTHFUL ABOUT THE PRECISE TERMS OF THE LOAN MODFIICATIONS (DISCLOSE THE TERMS CLEARLY) AND HONOR YOUR TRIAL PLAN AGREEMENTS.

ITS TIME THE LENDERS OPEN THE BOOKS AND SHOW US WHERE THE BAIL-OUT MONEY HAS GONE. WE NEED SOME TRANSPARENCY. WE NEED SOME ACCOUNTABILITY TO SHOW WHAT HAS BEEN DONE WITH TAX-PAYER MONEY. WAS YOUR LOAN ALREADY PAID OFF VIA THE BAILOUT, AND NOW THEY WANT TO COLLECT MORE MONEY FROM YOU FROM A LOAN THAT MAY HAVE BEEN ALREADY PAID? IF YOUR LOAN WAS SECURITIZED INTO A “LOAN POOL” IS THERE ANY CHANCE YOUR ENTIRE POOL OF LOAN WAS BAILED OUT AND PAID OFF? IF SO, DOES THAT MEAN THEY STILL GET TO COLLECT FROM YOU AS WELL? WHAT IS THAT? ISN’T THAT A WINDFALL……..UNJUST ENRICHMENT?

PEOPLE DESERVE TO BE REPRESENTED BY A FORECLOSURE DEFENSE LAWYER WHEN TRYING TO RESOLVE ONE OF BIGGEST PROBLEMS MOST HOMEOWNERS WILL EVER FACE. IN MANY CASES, A FORECLOSURE DEFENSE LAWYER CAN EVALUATE YOUR LOAN, REVIEW YOUR MORTGAGE DOCUMENTS (FORENSIC AUDIT), DEMAND THAT DEBTS BE VALIDATED, SEND MODIFICATION PROPOSALS, REVIEW TRIAL PLAN AND OTHER LOAN MODFICATION AGREEMENTS, ADVISE ON DEFICIENCY JUDGMENTS, DISCUSS POTENTIAL BANKRUPTCY AND SHORT-SALE OPTIONS, AND ENSURE THAT YOUR RIGHTS UNDER THE FORECLOSURE LAWS ARE ADHERED TO AND PROTECTED. THE BANKS HAVE EXPENSIVE LAWYERS ON THEIR TIME, YOU DESERVE TO BE REPRESENTED DURING THIS CONFUSING AND STRESSFUL ORDEAL. THIS IS THEIR GAME AND THEIR BATTLEFIELD.

IF YOU ARE AN ARIZONA HOMEOWNER PLEASE CONTACT US (877) 276-5084 begin_of_the_skype_highlighting              (877) 276-5084      end_of_the_skype_highlighting TO DISCUSS YOUR FORECLOSURE OR BANKRUPTCY CASE.

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