waldipup

Why Mortgages Aren’t Modified and What a Ruling Stopping Foreclosures Means

One point not exemplified here was that the Landmark mortgage was a first mortgage , and the Millenia , later sold to Sovereign , a second mortgage , junior to the Landmark first mortgage.

And so regardless of notification issues or anything , what would have occurred differently?

Nothing.

Even if properly notified , what could Sovereign or MERS as their agent done to change anything regarding the Landmark first mortgage forclosure action?

Nothing.

As to where the liability involved lies for the lack of proper notification -

It lies with THE ATTORNEY for Sovereign , and / or Sovereign's Title Co. , for failing to add Sovereign to the County Clerk record as new assignee of the Millenia second mortgage.

Nonetheless , if any equity was remaining after satisfying the Landmark forclosure debt , since the Millenia second mortgage was on record at the County Clerk , any remaining proceeds would have gone towards the outstanding debt on that loan , which would have eventually found its way into the pocket of -

Sovereign , the assignee and owner of that Millenia second mortgage .

So in this case , the bottom line is -

Nothing mattered anyway.

And if I knew the numbers , I'd bet that nothing mattered anyway a second time per the second mortgage Sovereign held and the homeowner winning on predatory lending by them , because -

I'm guessing there wasn't any equity left after the Landmark forclosure anyway!

How the U.S. Banking System Was Madoffed by the FASB

"Money supply increases when banks make more loans, and it contracts when loans are being pulled back. During the depression, money supply decreased by 37%, and unemployment rate spiked to 25%."

How much has the money supply been shrinking right now based on less current lending?

Separately , the marked to market rules are not that simple to quantify fairly .

How can you just ignore an inventory that is currently selling for half its former value?

How do you decide if it is a temporary "ignorable" drop , worthy of being overlooked per overall valuation accounting policy,

Or a valid long term revaluation (rangewise , anyway) ,

Making it fantasy to simply ignore it? .