SangioveseW said: nsdp said: Glitch there is something called the Fair Housing Act of 1968. http://www.fairhousing.com/index.cfm?method=page.display&pageid=... Probably passed before you were born. Applies to purchase, sales, and lending for residential single family and multifamily dwellings among other things. It happens to prohibit suits or collections where a lien holder has no equity to attach to.I think that you've completely lost it. The Fair Housing Act of 1968, codified at 42 USC 3601, as amended in 1974 and 1988, contains a blanket prohibition against lenders seeking deficiency judgments against their borrowers in recourse loan situations? You really are making a fool of yourself here.
By the way, just in the past few years, there have been thousands if not tens of thousands of deficiency lawsuits out there, many of which have been contested by extremely competent lawyers. If there was a blanket prohibition out there, in the Fair Housing Act or elsewhere, it would have been asserted a very long time ago, which would've ended all the lawsuits right away and borrowers would've been able to walk away from their recourse obligations without worrying about deficiency judgments.
How many deficiencies have been successfully pursued since the lid blew off the MERSCorp scandal? The banks haven't yet straightened out their books and records in compliance. What happened is lawyers let the documents in under the business records act without thinking about whether or not the transfers were properly recorded in the deed records. http://www.ritholtz.com/blog/2011/09/counties-suing-banks-over-m... Fundamental rule of real estate law under the Fair Housing Act is a loan isn't valid unless its recorded. Lawyers who goofed still have the right to file an equitable bill of review alleging fraud in the business records submitted by the banks. May be beyond your comprehension but read this from the title industry rag. http://titlesearchblog.com/2011/10/28/mers-assignment-mechanism-... Do you not keep up with the local news? " California Attorney General Kamala Harris said Sept. 30 that she was rejecting a proposed settlement with the banks and would conduct her own mortgage investigation because the state “was being asked for a broader release of claims than we can accept and to excuse conduct that has not been adequately investigated.”
I see you are still being lazy this time on the 11 USC522(f). Google motion to avoid lien under 11USCD522(f) Straight from the bankruptcy court form book. http://www.nhb.uscourts.gov/OrdersRulesForms/Local_Bk_Forms/LBF4... Even pro se debtors get this one right. After the 522(f) that the HEL or HELOC is reduced to an unsecured loan and subject to the general discharge 11 USC 727.
The part of the Fair Housing Act that burns the banks is the use of MERSCORP rather than filing of record in the Deed Records as required by the Fair Housing Act. Why have so many foreclosures been stopped dead in their tracks? You should know unless you have been living on Mars for the last two years. http://merscaught.blogspot.com/2011/09/mers-class-action-update.... Are You a Victim of MERS?
YOU have made a fool of yourself, I haven't made a fool of myself. You are lazy and get to a point you like the answer and then quit. You don't check to see if there is a Catch-22 someplace and in Federal Court there always is. That is why 97% of attorney's admitted to state courts are never admitted to Federal Court. It is why one should NEVER depend on Wikipedia for answers to legal issues.
My last approved fee from the bankruptcy court was $350/hr in a debtors case. For you $700/hr and it will be cheap at that price given your mishandling of things.