by Brian Mahany I thought I had seen everything until I read a story about Investor’s Saving Bank. If you haven’t figured out why juries dislike lenders and are awarding large judgments against banks, read on. A New Jersey company sought mortgage funding from Investors Savings. At the closing, Investors only provided half the funding. […]
New Wave of Foreclosures Coming
by Brian Mahany The headline from CNBC that a new round of foreclosures is coming comes without surprise. Thankfully, fewer borrowers are falling behind but there are still millions of Americans who are hopelessly behind on their loans. We say “hopelessly” because the lending community has miserably failed to assist homeowners who may have needed […]
Former Bank of America Executive Indicted For Fraud
by Brian Mahany Anyone reading this blog knows our opinion on big banks. Chase, Wells Fargo, BONY and especially Bank of America have become “to big to care” in our opinion. Treasury officials may say they are to big to fail but we think that they have outlived their usefulness. Although these banks still do […]
Bank of America & The Mexican Drug Cartels
by Brian Mahany Around our Detroit office, we often refer to Bank of America as the “Death Star.” Sci-fi fans understand the reference but for those who haven’t seen Star Wars, the Death Star is a huge space station with a death beam capable of destroying a planet. Bank of America isn’t quite that powerful […]
A Message Of Hope From The Proverbial Cockroach (Repost)
[2021 Ed. note: This post is printed from Global Wealth Protection LLC. GWP is a provider of offshore asset protection. If you enjoyed reading this post, consider subscribing to their newsletter or attending their program Global Escape Hatch beginning on September 19th in Panama. Details are on their website. I reprinted this piece because of […]
Ally Latest Lender To Admit Foreclosure "Problems"
by Brian Mahany Ask any court clerk and you will hear dozens of tales of missing documents, forgeries and even lenders foreclosing on homes when the borrower never missed a payment. The banks, however, are a bit more reluctant to come clean. Recently Ally FInancial and its servicing unit, GMAC Mortgage, identified thousands of problem […]
Death Toll From Foreclosure Crisis Climbs
by Brian Mahany Foreclosures not only destroy families and their hopes and dreams, they can also cost lives. In a nation with millions of abandoned properties, tragedy is never far away. With no one to maintain the property, abandoned houses often become home to vagrants, drug dealers, and rats. When an abandoned house has a […]
D-Day and the Battle Against the Mortgage Industry
by Joe Bird, Esq. My father served in WWII. He landed on the beaches of Normandy, D-Day plus 12. He was a member of the demolition and engineering section of his Division. A corporal who volunteered when he was rejected by the Air Force for a special officer’s training program because of his poor vision. […]
More Ammo In The Fight Against Fraudulent Foreclosures
by Brian Mahany Over the last several months we have identified many of the legal mistakes made by big banks and loan servicing companies – mistakes that may allow the homeowner to avoid foreclosure or at least force lenders to negotiate a fair and equitable resolution. Today’s post examines loan bundles and improper mortgage assignment […]
"Show Me The Note" Foreclosure Argument FAILS
by Brian Mahany Some people reading this post are thinking we have gone to the dark side. Don’t worry – nothing could be farther from the truth. As lawyers, we fight hard for our foreclosure clients but have to be realistic. Anyone reading mortgage blogs and some of the Occupy Homes materials would think that […]