Krafty,My first thought is that I hope you're going after them with more than just FDPCA. That violates BK laws too, and depending on how they are trying to collect--their efforts, I mean--it could violate other laws too.
My second thought is I'd love to hear the reasoning your attorney is using to try to convince you to settle. We need to remember, and I learned this thoroughly when trying to secure representation, attorneys are part of the same club. I had attorneys even admit to me that what I had was indeed solid evidence of fraud, among other things. But none of them would take on those issues on my behalf. One even told me that the reason why she, and no other lawyers as well, would take up my claims is because they all have to work with the attorneys and judges who had committed the fraud in other cases....so if they fought my claims for me, they would damage their ability to work with those other lawyers and judges in the future.
If you look at the actual laws, there is no license to practice law. There's a bar card, which is membership in an exclusive club to which us mere mortals are outsiders. They use the system as they choose to. It's not about you or me...it never was. And these dishonest lawyers act the way they do because they know that most of the time they will get away with it. The system is biased in their favor, and they know it. I filed a motion for sanctions, with the attorney even admitting in open court that she had private conversations with the judge's staff about my motions and filings...and the new judge denied my motion without so much as a thought. When I filed to recuse the judge, she responded by claiming she did nothing wrong. Even though it was shown and admitted that these private conversations took place, she claimed that all of her actions were permitted under the code of conduct. The system is not for us, it's for them. Every once in a blue moon, the courts are faced with a case where the wrongdoing is so bad that they have to take some action. But the every day cases are where the real tragedy is.
Still in a holding pattern on our end, thanks to COVID-19. Still waiting for a response on motion to compel, which I suspect will be that way until this is over because the court needs to set a date for a hearing on that.
Here's a different development too though...
Do any of you have an assignment of mortgage/DOT where the assignment assigns the mortgage or DOT, "together with the note"? I do. That's a legal impossibility. The UCC is law in every state, and under the UCC, Section 3, a promissory note is a negotiable instrument that MUST be transferred via negotiation and consideration MUST be present. The transfer is only valid if the buyer paid something of value for the note. In my case, there's no attempt even to claim that they exchanged value. Without that, the transfer is NOT valid under law. They have played so many games in my case about the note it's not funny. First, they used a copy of a note, where our state laws require the original be provided. Second, they knew it was lost, but did not inform the court or us for years. They waited more than 5 years after the discovery that the note was lost to make any attempt to do something about it, even though the law here requires action "within a reasonable time". And then, the assignment issue too. So, I am doing a few things at once. Still have the MTC. Filing additional discovery requests as well. Contemplating a MTD based on the flaws that have existed this whole time.....by law they are not supposed to be able to use intentionally false pleadings as a place holder for the procedurally correct stuff.
The housing market, is not the only bizarre thing going on today, my friend.(By the way, put a reasonable offer in for the house I am renting. It will get turned down, but I figured Lone Star could process it & chase their tail for a while).I was going to send this privately to Wanda, but I'm going to post it publically. There is something really wrong, in my opinion, with our current real estate market.
I remember 2007 and 2008, very vividly. I was living in South FL at the time, and I remember that in late 2006, everything started to "cool" off -- and prices stopped growing to the sky. People were no longer camping outside overnight to get their pick of lots, construction was starting to slow down, and you could just tell, everything was slowing. I think this had to do with Interest Rates rising, at the time.
In 2007, that spring, I remember a neighbor of mine talking about how she basically had to give away her condo. I wasn't too surprised, but I was amazed that 20+ people had not come to tour the home. She only received one offer, and had only seen six showings over two months.
Then later that summer -- around May, everyone and their brother seemed to have their home listed. You could drive through subdivisions that had been built a year or two ago, and find houses (some four in a row) all with a FOR SALE sign. The urgency to buy a home was gone, and builders were clearly desperate to sell their inventory of homes. Price Reductions begin to get very dramatic.
Here is the thing though. Prices were down maybe about 10% - 12% in some cases. People thought it was a "good" time to buy, the "dip" in prices. They thought the worst was over. Truthfully, no one knew how many homes were going to be dumped onto the market as foreclosures.
In 2008, through the spring... people seemed to be completely oblivious to what was happening. I remember people were still doing major home renovations, buying new homes, and still trying to sell their homes for top dollar. In mid-2008, it seemed to finally get through to people that the tide had changed. Things were beginning to look bleak.
Today... we seem to be in another inverse/weird situation. People are over-stretching themselves and jumping into bidding wars in some areas to buy homes. In a way, it's reminiscent of 2004/2005, when people were jumping into Interest-Only and you'd aggressively make an offer on a new condo. People are acting as if they don't buy a home now, they will NEVER get one. It's bizarre, in my opinion.
But... at the same time, this is all happening. You have millions of people who are behind in Mortgage Payments. Foreclosures & Shadow Inventory for an entire year has basically been swept under the rug and will come out of the woodwork next year. We are not even including people falling out of forbearance, or who haven't had their foreclosure cases filed against them. We are just talking about people who already had a sale scheduled or a final judgment issued. When you combine all three, it gets very nasty.
Some of the people buying a home right now, may not even have a job next year. There a lot of people who purchased a home within the last year with an FHA Loan, and have already lost their job, and fallen into Early Payment Default. But, people can't see past all of this.
It's weird. I just wonder what is going to happen. If the Government does not step in, we technically would have more inventory dumped at once, than in cycles, like 2008... which would cause prices to fall. And while I'm doubtful people will quickly walk away from their loans -- if the value of the homes falls 20 - 25% -- does it really even make sense to pay it back? I wonder that question myself.
To sum up this up quickly -- people are not acting rationally, right now. It's weird and the market seems to not be pricing it in. I wonder if the cards will fall, or if it will be propped up.
According to the paperwork they have sent me, the transfer actually took place 12/10/2013. The date on the assignment is June 2014. But my state has strange laws, there is no statute of frauds per se. There's a civil code article that requires some contracts to be in writing but there is no stated requirement for timing that assignment within our laws. So, a transfer that supposedly happened in 2013 could be memorialized by a written assignment years later and it would be legal on its face.Krafty,
Hope you're hanging In there, my dude!
In my research, I read hundreds of assignments from various states and it's common, though not the rule to include the verbiage where they slip the note in almost as an afterthought with the mortgage. Though it's been a while since I studied it I think the workaround for the clear impossibility of a negotiable instrument being transferred by assignment has to do with changes conveniently created in UCC 9 to streamline the securitization shell game. From the perspective of semantics or logic, their argument might be the mortgage assignment didn't affect the transfer of interest in the note but is being memorialized by reference. In other words they might imply or assert that the actual negotiation of the note took place took place separately and in the appropriate manner. They often do the same thing about the assignment in which case you want to look for the word "executed" and see how the date differs from the recording date.
Did you notice whether the assignment is within the statute of frauds? Many times they aren't, not that anyone calls them on it but technically if not within the SOF the assignment is not enforceable. Corbin and Williston reference that requirement in their writings.
While it's state-specific generally the requirement is that it must be signed by the party to be charged. In our case, that means the beneficiary. It can be signed by an agent but the name of the beneficiary must be mentioned somewhere in the document.
The FHA Fund is bankrupt. Expect all sorts of creative accounting, and shenanigans as they try to repaint the true reality of the situation."Portfolio Re-engineering" a new term I'm studying....thought you guys would be interested. It's published in the Federal Register as another "demonstration" program by HUD.
The hits just keep on coming