It is an unfortunate fact that many of the legal approaches that have had modest success in recent years no longer produce the same level of winning results. This is because the law firms representing the big banks have created strategies to deflect, distort, and distract from the real issues.
In response, we have spent an exhaustive amount of time and resources analyzing all of the cases that have been successful in resolving problems created by the mortgage securitization mess. We have designed our legal information litigation strategy to hit the banks hard where they are most vulnerable.
Our primary focus is on getting clear and marketable title to the property by arguing that the actions of the banks have made the security provisions of the mortgage/deed of trust unenforceable. Instead of fighting the foreclosure itself head-on, we argue that none of the banks or their agents have the right to enforce the foreclosure provisions of the Mortgage/Deed of Trust. In other words, the real issue is that the banks lack standing to foreclose.
If none of the various bank entities involved in the homeowner’s transaction have standing to enforce the foreclosure provision, the homeowner is entitled to a declaratory judgment AS A MATTER OF LAW.
This is not a static situation. While it is true that the banks are not going to go down without a serious fight, and are constantly creating new legal maneuvers in order to win, we have also are not sitting still and relied on the same arguments and approaches either.
Our experts have harnessed their collective reservoir of knowledge and experience to create alternatives to most of the existing strategies intended to help homeowners facing foreclosure.
What the Banks’ Lawyers Do in Court
The degree to which the banks have succeeded in court is owed, in large part, to the fact that they have been somewhat effective at patching together various legal theories that have blanketed court jurisdictions across the country with a quilt of convincing legal jargon and nonsense that has even confused and confounded judges.
They are more than willing to write up clever arguments in bewildering “legalese” in order to justify what they have done to American homeowners. In effect, the banks have constructed a legal version of the old sidewalk shell game where the proverbial ball has behaved seemingly in defiance of the laws of physics. The banks would have everyone believe that what they have been doing since the 1970’s is perfectly legitimate and “above board”.
They gave been relying on a complex interaction between areas of law commonly referred to as “UCC 3 commercial paper law”, “UCC 9 securitization law”, “bailment law”, “agency law” and local laws covering the jurisdiction where the property is located. When judges find that what is being put in front of them is beyond their comprehension, they retreat away from all the complexity in favor of asking the more basic and simplistic questions about the issues being argued… which is exactly what the banks’ lawyers are counting on.
What Our Members Do to Fight and Win
Our successful members are able to competently object to the nonsense being argued by the banks and to break down, into “bite-sized” chunks, an explanation of what really happened; what the banks really did; explaining exactly who defrauded who; exactly who breached a contract. They are able to do this in a way that makes sense to honest judges who simply need to have the truth put in front of them, presented in a way that makes sense to them, complete with solid legal research behind it, and the necessary citations showing a history of legal precedent. THAT IS WHERE OUR KNOWLEDGE AND EXPERTISE makes a tremendous difference.
We are finding that most judges do honestly want to protect the equitable interests in the party that genuinely can be shown to have equitable interests. They do want to see justice being done. They do not want thewrong party to prevail. They also do not want to rule outside of previous precedent, which, again, is where our expertise and research makes a difference for our members.
Simplifying the Complex
Albert Einstein famously pointed out that the essence of genius is not in making the simple subject complex; that it is, rather, in making the complex subject simple. That is what being a part of this private member association is really all about. We are all about deciphering complex concepts – multifaceted transactions involving multiple parties, each with multiple interests – into something so simple and straightforward that a caveman would understand it. Our members are able to benefit from our expertise and research.
Many lawyers who have challenged the banks have gotten close to exposing the scheme, only to find that their explanations get stuck in the “muddy” complexity of the legal theories involved. This, as we have explained, generally results in judges erecting various procedural barriers in front of the homeowners under the auspices of protecting the equitable interests of the banks and their agents. In other words, if the complete argument against the banks and for the homeowner is not CLEAR and COMPELLING enough, the banks win. Clear and compelling is what our experts are good at
The Foreclosure Assistance program put together by U.S. Equity Initiative has moved the bar forward in many substantial ways: Our Private Administrative process is a targeted approach to Informal Discovery:
• § 3-501. PRESENTMENT or States equivalent
• 15 U.S. Code § 1692g – Validation of debts
• Truth In Lending Act (TILA RECISSION) codified in 12 CFR Part 226 (Regulation Z); particularly§ 226.34 Prohibited acts and §226.32 sub-paragraph (ii) et seq. predatory lending practices
• The primary focus of the legal aspect of our program revolves around taking the theories and best practices that have been most successful around the country and make refinements.
• Our program seeks to avoid getting mired in the complexity of the various areas of law involved, instead focusing on a simple, focused approach that makes it harder for judges to avoid the strength of our core arguments.
The U.S. Equity Initiative Private Member Association team has a diverse set of skills and significant experience in certain core areas that will increase the likelihood of success for our members.
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