posted on Jan, 7 2011 @ 08:44 PM
Today, the Massachusetts Supreme Court decided US Bank v. Ibanez. This is the largest victory for consumers who are facing foreclosure or who have
been foreclosed upon. Basically, the court found that if your loan has been securitized (and 85% of all loans have been), your 'lender' no longer has
standing to foreclose.
This decision could cause the downfall of the big banks. This decision does, what TARP bailouts sought to prevent- cause the mortgage industry to
We agree with the judge that the plaintiffs, who were not the original mortgagees, failed to make the required showing that they were the holders
of the mortgages at the time of foreclosure,” Judge Ralph D. Gants wrote for the SJC. “As a result, they did not demonstrate that the foreclosure
sales were valid to convey title to the subject properties.”
The banks claimed that “securitization documents” they submitted established valid assignments that made them the holders of the two mortgages
before the notice of sale and the foreclosure sale.
But the SJC disagreed.
If a loan has been securitized, the original deed is invalidated. This is HUGE, and could benefit every homeowner who has been defrauded simply
because they were not told who their loan had been sold to, or who owned their note (when I am paying for a house, I want and need to know who I
should be paying).
Because this area of law is so complex, I have attached a book that every person in America should read. It details how we have all been defrauded
by the banks, including borrowers, investors and insurers. I am in the process of suing Citimortgage. To date, they can't produce evidence that they
own my loan. I imagine they will 'create' some documents....but now it doesn't matter what they do.....they have no standing and I can prove it.
Please read the attached file, it is your duty as an American to understand how your tax dollars are bailing out corrupt banks that should have failed
based on their deceit and exploitation of law.
Foreclosure Defense Book by Vince Khan:
Foreclosure Defense Book
edit on 7-1-2011 by
lostviking because: spelling