The tip of the iceberg in mortgage rescues

Discussion of various forms of Advance Fee Fraud, including application fees for loans that never materialize, self-liquidating loan scams, as well as mortgage elimination scams and related debt elimination scams [Nigerian-type scams should go in the Nigerian 4-1-9 forum]
Judge Roy Bean
Judge for the District of Quatloosia
Judge for the District of Quatloosia
Posts: 3704
Joined: Tue May 17, 2005 6:04 pm
Location: West of the Pecos

The tip of the iceberg in mortgage rescues

Post by Judge Roy Bean »

The depth of deceit in rescue scams just never surprises me - but there may be consequences:

http://www.nytimes.com/2009/03/08/nyreg ... &th&emc=th
“Our position is that the mortgage with IndyMac is toilet paper — it has no legal standing,” said her lawyer Rick Wagner, litigation director with Brooklyn Legal Services Corporation A. “The law for 200 years is that no title can arise from a fraudulent act.”
Ah, Rick, let me give you (and especially the other 90% of the legal community that is apparently content to ignore your client's situation) a hint here - "titles" have been arising from fraudulent acts for years. Hopefully you'll prevail, but when a Federal agency steps in, don't expect rational behavior.
The Honorable Judge Roy Bean
The world is a car and you're a crash-test dummy.
The Devil Makes Three
verus2612

Re: The tip of the iceberg in mortgage rescues

Post by verus2612 »

The good director is in for a rude awakening should push come to shove. Assuming that he's able to overcome the hurdle of Indymac being treated as a bonafide purchaser for value without knowledge of the fraud alledgedly perpetrated by the poor woman's rescuer relative to the lien of the mortgage, he's going to find out that a lot of things that might have been a defense against Indymac aren't applicable when the holder of the mortgage is the FDIC.
Judge Roy Bean
Judge for the District of Quatloosia
Judge for the District of Quatloosia
Posts: 3704
Joined: Tue May 17, 2005 6:04 pm
Location: West of the Pecos

Re: The tip of the iceberg in mortgage rescues

Post by Judge Roy Bean »

The Honorable Judge Roy Bean
The world is a car and you're a crash-test dummy.
The Devil Makes Three