Supporting, Informing & Connecting People in Foreclosure
Lender and servicer modification abuse, dual tracking and deceptive business practices have caused undue emotional stress on homeowners. The Courts usually demand a precise record in order to establish a claim against the banks and their pals. Foreclosure is a dirty business and you need to have the right tools and knowledge to make your points.…Continue
RTC vs. Key Financial was a 1989 case that was appealed, laid dormant in the 1990s and was finally decided in 2002. Katie bar the doors! The investors won and Wall Street knew that the floodgates had been opened... the jig was up! The common thread among today's securitization beauties is nearly the same as 20 years ago - only worse:
"When the New England real estate market began to collapse in the early 1990s, certain loans acquired by Home Owners [RTC] began to underperform. Upon investigation, Home Owners determined that the original property appraisals that accompanied some of the purchased mortgages were artificially inflated."
Oh, duh? Ya think? So, now ask any Legislator, Judge or doubting Thomas:
It's not your fault. You had no control over the back-room game... it's been going on for years and no one has been there to protect you or the investors. Sad isn't it?