Bagels at a Bar mitzvah Part II

[moretrouble]

So, they basically made their bed and now they have to lie in it....interesting.

Same is true of several more recent pending cases where the pretenders say one thing in discovery but then try to get around to something else before the court. Too much nonsense. Also, lots of contradictory claims going on in recent cases too...like how an employee from ABC Pretenders says ________, but then another employee from the same company states a completely different set of "facts". New servicer in mine, they claim to service for a trust, but then they sent me paperwork listing themselves as the mortgagee....you cannot have it both ways. A servicer is not the mortgagee unless they are servicing for themselves.

The profit strategy for the servicers is: (from studying loan balances in the collateral files), especially Ocwen (PHH)
1- Keeping the defaulted loans in the trust, use the excess cash flows to paydown balances as if there were no default. Servicers are obligated to remove default loans from the trust after 90 days.
2- Create a new collection account at the 90 days of default for each defaulted loan to accumulate fees and interests. There is no transaction history to support the existence of debts for this accounts, just accounting entries, no actual transferred.
3- After a few years, such as in my case, file foreclosure complaint using the trust name but try to collect the claimed amount owed on the collection account. Pocket the profit pass them out as large salaries and bonuses.
I am considering filing a new Motion for a new trial also.

 

[moretrouble]

Continued:
1- Keeping the defaulted loans in the trust, use the excess cash flows to paydown balances as if there were no default. Servicers are obligated to remove default loans from the trust after 90 days.
2- Create a new collection account at the 90 days of default for each defaulted loan to accumulate fees and interests. There is no transaction history to support the existence of debts for this accounts, just accounting entries, no actual transferred. Most foreclosure case the loan number in the complaint is different from what listed in the collateral file. Most homeowner don't know that because it costs $25,000 /year subscription to get access to the collateral file.
3- After a few years, such as in my case, file foreclosure complaint using the trust name but try to collect the claimed amount owed on the collection account. Pocket the profit pass them out as large salaries and bonuses.

I am considering filing a new Motion for a new trial also. BOfA can't get their judge out of retirement to save them. Let the bank steal the houses from us the collecting $90,000/year retirement benefit from Oregon taxpayers. Most of us don't make that much working. What a FXXXG joke. That's why I rather be homeless (with a big bank account) than paying property tax.

You're right Krafty, I do not expect any help but just point out the cost to them politicians. I still remember Geithner said: "Homeowners just foam for the banks to land"

 

[cookiemom]

Any thoughts on my previous post and why again they are sending NOI?

 

[moretrouble]

Any thoughts on my previous post and why again they are sending NOI?

To collect, feeling you out to find out how much you know. They will push you to the limit, and like the Fox case, settle at the 11th hour. My first NOI was sent in Oct 2010. Just have to educate yourself then you know what to do. Good luck against the highly educated people trying to steal legally.

 

[kraftykrab]

To collect, feeling you out to find out how much you know. They will push you to the limit, and like the Fox case, settle at the 11th hour. My first NOI was sent in Oct 2010. Just have to educate yourself then you know what to do. Good luck against the highly educated people trying to steal legally.

wow, my adventure began around the same exact time as yours....lol cannot believe this has been going on for so long.

 

[cookiemom]

wow, my adventure began around the same exact time as yours....lol cannot believe this has been going on for so long.

So if you still have the house...that is past the SOL to foreclose right?

 

[kraftykrab]

So if you still have the house...that is past the SOL to foreclose right?

As long as the case is still ongoing in the court, SOL is suspended, which means the case needs to be dismissed first before that can apply. If a case gets dismissed, then the SOL is as if the case never happened, so in that example the SOL would be expired.

 

[moretrouble]

wow, my adventure began around the same exact time as yours....lol cannot believe this has been going on for so long.

Are you having FUN? It's been so long I am looking at this whole thing as playing chess with the adversary. It sure keeps my mind active preventing dementia. I do not want a mod because there is no loan to mod, at least not on the amount BOfA claims I owe. I am open to a settlement depending on the terms. If the system is so corrupt that I 'll lose, I'll just go. I definitely do not want to contribute the corrupt/coward judges' retirements by paying property tax. I 'd rather live in my camper van, by the river. Now I understand why so many homeless people without mental or drug issues prefer van life.
I am seriously looking at filing a motion for a new trial. Then the new judge could grant the motion then I file for a amended answer and counterclaim, or more likely he/she will deny it based on timeliness, then I'll file an appeal, the whole process will take another 3 , 4 years, then I still have Federal , BK court...
They probably hope that I die.

 

[moretrouble]

Found out you can use ChatGPT to help you find case law for your motion. Who needs a lawyer and it's free.

 

[kraftykrab]

Found out you can use ChatGPT to help you find case law for your motion. Who needs a lawyer and it's free.

Please explain how you search on there, I tried and it only sent me links to subscription services like fastcase and lexis nexis

 

[moretrouble]

Please explain how you search on there, I tried and it only sent me links to subscription services like fastcase and lexis nexis

I tried it for a couple hours. It gives good how to "motion for relief of judgment" or " motion for new trial" but when I ask for case law to support the motions, the cases were not in line with what i found with Google. I ended up using Westlaw and local court rules. You can get a 7-day free trial with Westlaw and it's also should be available at the court house library. My tax dollars at work.

 

[moretrouble]

In further research, I discovered how the servicers like Ocwen, Mr. Cooper, and mREITs like Rithm Corp make money. Before this year (up till 2019) when Fed fund rate was near zero. They were able to borrow from the market at 2% (by selling servircer advance bonds) then advanced payments dued by defaulted loans (principal+interest+tax+fees) to the trust. The fees (servicing + ancillary) were slightly more than enough to cover the interest on the bonds. The defaulted loans have been continually paid down using servicer advances. The big profit comes in when they foreclose. On my loan, the balance in the trust is $175K but they filed a writ for $631K. Once they sell my loan, they would pay off the loan in the trust and pocket 631-175=$456K profit. That's how Rithm has been able to divert over $ 4 billions of profit to their owners by producing nothing of value, stolen from the foreclosed homeowners. The proof is in the market data from Bloomberg.
Now they are hurting because higher Fed fund rate. BBB rated bonds requires 20% yield a lot more difficult to get funds.

 

[Survivor_IN]

Any thoughts on my previous post and why again they are sending NOI?

My thoughts are they will wait either 3 months or 6 months to file the court case (FC). Technically there is a period of time (per servicing rules/ CFPB) where they are to offer you alternatives such as a modification or give you time to catch up on payments before they file. --- Just be sure to answer the case with SOL answer and to also followup with a motion to dismiss based on SOL.

 

[Survivor_IN]

wow, my adventure began around the same exact time as yours....lol cannot believe this has been going on for so long.

ROUGHLY SAME

 

[cookiemom]

My thoughts are they will wait either 3 months or 6 months to file the court case (FC). Technically there is a period of time (per servicing rules/ CFPB) where they are to offer you alternatives such as a modification or give you time to catch up on payments before they file. --- Just be sure to answer the case with SOL answer and to also followup with a motion to dismiss based on SOL.

Just seems crazy, like they are just repeating what they previously initiated in 2021. My attorney responded to them

 

[razmik]

Hello everyone, I hope you remember me from 12 years ago! I am still here and fighting. My last appeal to Mr. Cooper didn't go well and we lost. The servicer has a new trustee out of Texas and sent me some documents asking me to pay the debt or they will start the foreclosure.
My present lawyer does not give me any hope and she says I can not win.
I need a new lawyer in Los Angeles, California guys. If you know one who is familiar with our situatines, please send the information. Thank you in advance...

 

[moretrouble]

Still waiting for my "Notice of Levy" so I can file my Challenge. The challenge requires a hearing by law. My first question to the opposing attorney is "Are you REALLY representing Bank of New York, Mellon as Trustee of the Trust? or some debt collector trying to steal my house?

 

[moretrouble]

ChatGPT: US lawyer admits using AI for case research

1
Kathryn Armstrong - BBC News
Sat, May 27, 2023 at 3:20 PM PDT

ChatGPT can answer questions using natural, human-like language and mimic other writing styles
A New York lawyer is facing a court hearing of his own after his firm used AI tool ChatGPT for legal research.
A judge said the court was faced with an "unprecedented circumstance" after a filing was found to reference example legal cases that did not exist. (that's what I found).
The lawyer who used the tool told the court he was "unaware that its content could be false".

 

[Survivor_IN]

HILARIOUS!

Attorneys face cause using ChatGPT after AI makes up citations in court documents

Two attorneys from the reputed New York firm, Levidow, Levidow & Oberman, P.C., are getting set to respond to an unusual order to show cause after a judge found them using ChatGPT to help them with their legal research. They were only caught after a judge noticed the inclusion of fictitious case...

brooklyneagle.com

June 6 is hearing to show cause....
"Um, Your Honor, ... My bad."

Meanwhile, back to the grind. The free version didn't work anyway. lol

ChatGPT: US lawyer admits using AI for case research
A judge said the court was faced with an "unprecedented circumstance" after a filing was found to reference example legal cases that did not exist.

 

[Survivor_IN]

Hello everyone, I hope you remember me from 12 years ago! I am still here and fighting. My last appeal to Mr. Cooper didn't go well and we lost. The servicer has a new trustee out of Texas and sent me some documents asking me to pay the debt or they will start the foreclosure.
My present lawyer does not give me any hope and she says I can not win.
I need a new lawyer in Los Angeles, California guys. If you know one who is familiar with our situatines, please send the information. Thank you in advance...

Doubtful you will find one as most attorneys do not want to take on the banks. This is why there are so many pro se against the banks. I am not sure what the appeal was for and its relevance. It is odd that they are asking for you to pay the debt or they will start the foreclosure if you were allegedly already in foreclosure. I'm not familiar with California law and am not an attorney either. I'm not sure about the new trustee but that might indicate that Mr. Cooper has/had no standing to continue. I don't know but they may be interested in restarting the clock on the statute of limitations. I'm suspicous that they want or need to send a new "notice of default." Currently it is either 3 or 6 months before they can file foreclosure. Check on it under CFPB.