Archive for October, 2011
Ok, I couldn’t help myself from putting up a Halloween-themed title today. But it will definitely be a good night for a Fort Worth area couple who will get to stay in their home to hand out candy to trick-or-treaters. A judge granted these North Texas homeowners’ application for temporary injunction, which orders Citibank/CitiMortgage and Fannie Mae to cease all efforts to evict the couple from their home while their lawsuit against Citi and Fannie Mae is ongoing.
The homeowners, represented by foreclosure defense attorney Walker M. Duke, filed suit in early 2011 seeking declarations that CitiMortgage had no interests or rights in their mortgage when it foreclosed on their home in October 2010, and that Fannie Mae’s purchase at the foreclosure sale was therefore void. Following this foreclosure sale, Fannie Mae attempted on two separate occasions to evict the homeowners and have the constable remove their belongings.
One side note–the homeowner that Citi and Fannie Mae tried to evict is a Vietnam veteran who has stage-4 cancer. At least for today, the trick is on them.
We try to keep this blog politically neutral as the issues discussed here affect all Americans equally. However, we do not hide our praise for New York Attorney General Eric Schneiderman who is a key player in derailing the abominable 50 State AG “settlement” with the likes of Bank of America, JP Morgan Chase, Wells Fargo and the rest.
Mr. Schneiderman was recently on the Rachel Maddow show discussing his position on the mortgage crisis, and what needs to be done to correct it. He could not get into great detail in such a short interview, but nonetheless, shows he is unwilling to bow down to his own party, the Administration, or anyone else that stands in the way of pursuing justice for the people of his state.
Skip to 4:30 where his interview begins:
hat tip: Naked Capitalism
Unfortunately, due to strict non-disclosure language contained in the settlement agreement, this post will be light on details. Fortunately for a Utah homeowner, however, a foreclosure action was stopped, a modification agreement reached and a home saved.
It is possible, folks, to get the banks to work with you. But you need the right tools and the right arguments on your side. Do not give up. Time is of the essence, however. The longer you wait to act, the less the chances of a favorable outcome.
A Dallas-Fort Worth-area family will get to stay in their home while pursuing litigation against Nationstar Mortgage and Fannie Mae, who foreclosed and tried to evict the homeowners from their residence. Foreclosure defense attorney Walker M. Duke obtained a temporary injunction, which prohibits the banks from evicting the plaintiffs and their family while the lawsuit is pending in court.
The lawsuit seeks a judicial determination that Nationstar Mortgage had no right to foreclose on the homeowner’s property and that as a result, Fannie Mae, who bid on the property at the foreclosure sale, had no right to take possession of the house.
Attorney Walker Duke of the Duke Law Office, who represents the homeowners, applauded the court’s ruling. “The property records, which were filed by the bank, are false on their face. It’s clear there are legitimate issues as to title and why the bank filed such blatantly false records with county. I’m very pleased that the homeowners will be able to keep their house while investigating the bank’s misbehavior.”
Duke cautioned that bank mistakes are not uncommon. “Property records have been maintained by local county officials for literally hundreds of years–it’s the foundation of our American property system. There are laws that require these records to be accurate when filed. Apparently, the banks feel these laws don’t apply to them. I’m just trying to hold them accountable.”