The Pine County District Court recently "found multiple, independently sufficient grounds" as to why a recent JP Morgan Chase's foreclosure was illegal and therefore invalid. For instances, "[T]he Court finds that the January 8, 2014, Help For Homeowners notice did not comply with Minn. Stat. 580.041, subd. 2, and thus, the Sheriff's sale is void." See full opinion here.
Drewes Law assists homeowners in financial disputes with their mortgage lenders/servicers. If you, or someone you know is facing foreclosure, please call a Drewes Law attorney today: 612-285-3051.
The suit claimed that Lund, who was the head of Fannie’s single-family division, helped hide more than $100 billion of subprime exposure from Fannie’s shareholders, allowing it to continue to back more and more risky loans.
The settlement: $10,000. Read more here: http://fortune.com/2015/09/22/fannie-mae-lund/
Congrats Thomas Lund. Millions of people lost billions (in aggregate) on your bad decisions/actions, including more than 4 million people who lost their homes.
Drewes Law helps homeowners facing foreclosure and foreclosure alternatives. If you or someone you care about it facing foreclosure, call a Drewes Law attorney for a free consultation: 612-285-3053.
One way to reduce your mortgage balance is to get your lender to agree to let you sell the property for less than what will yield a full payoff of the mortgage balance (a "short-sale"), and forgive the difference. In order to prevent someone from simply refinancing via this method, a lender will usually require some form of the following terms to be affirmed as part of the transaction:
"Hereby affirm that this is an “Arm’s Length Transaction”, certifying under penalty of perjury that to the best of my knowledge and belief:
Sample Short Sale Affidavit from Central Mortgage.
If you were to sign this form knowing that the information was false, that would likely be bank fraud (https://www.law.cornell.edu/uscode/text/18/1344) punishable by a fine of "not more than $1,000,000 or imprisoned not more than 30 years, or both." Yikes. So despite what your realtor may advise, don't just sign forms at a real estate closing that you know are false. In my opinion, financial problems should not be compounded by criminal problems.
Generally a short-sale is not a means to stay in your home. If you or someone you know is looking for foreclosure alternatives in Minnesota, please call a Drewes Law attorney at 612-285-3053 for support.
This past spring's passage of Minnesota legislation in favor of foreclosing lenders--both reducing transparency and reducing notice requirements during the foreclosure process--really shocked me. Businesses (I believe it to be CitiMortgage's local counsel in this instance) are simply more organized and methodical in pursuing their legal and legislative interests than the population at large.
Harvard Law Professor Larry Lessig (a co-founder of Creative Commons) has an idea on how to try to de-couple politics from special interests on a national scale: use the presidential election as a referendum on "The Citizen Equality Act of 2017."
More here: https://lessigforpresident.com/the-act/
But how could you trust that he will actually resign after the stated goal is accomplished (as opposed to feeling compelled to pursue a new, secondary mandate)? His choice for vice-president would be essentially be an appointment by him of the future president--does that seem democratic? If he picked someone disliked by Congress, would Congress refuse to pass the legislation? Will this candidacy bring about a meaningful conversation?
Drewes Law helps clients in financial disputes, including homeowners in foreclosure fighting to keep their homes and debtors defending against abusive debt collection practices. If you or someone you know is facing a Minnesota foreclosure, please call 612-285-3053 for more information.
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