This is a great article from the New York Times about a Brooklyn judge who is standing up to the banks by making them follow the law. Imagine that? From the banks making bogus signatures to not proving they own the mortgage, Judge Arthur M. Schack does not let any lender funny business cause homeowners in his district to lose their homes. Meaning, he is doing his job!
I first wrote about this “lender funny business” back in 2007 when several Ohio Federal Judges throughout dozens of foreclosures in the state because the banks could not prove that they actually owned the mortgage. That was when the “Who owns my mortgage defense?” was born.
Hundreds of homeowners have used this defense to successfully stop their foreclosures and I suspect we will see many more in the coming year. However, this is rare because most homeowners do not even contest their foreclosure or answer the foreclosure motions, let alone respond at all to their lenders calls or mail.
If homeowners fought back, I think the banks would be in big trouble.
Moe’s “banking blunders” blog posts from the past:
Deutsche Bank Foreclosures Tossed Out of Ohio Federal Court – “They Own Nothing!” - Read the original ruling here
Ohio Homeowner Fights Foreclosure & Lives Pymt Free for 11 YEARS!!!
The Judicial Integrity of the United States Court is “Priceless” – 27 More Foreclosures Dismissed
From the New York Times:
He plucks out one motion and leafs through: a Deutsche Bank representative signed an affidavit claiming to be the vice president of two different banks. His office was in Kansas City, Mo., but the signature was notarized in Texas. And the bank did not even own the mortgage when it began to foreclose on the homeowner.
The judge’s lips pucker as if he had inhaled a pickle; he rejected this one.
“I’m a little guy in Brooklyn who doesn’t belong to their country clubs, what can I tell you?” he says, adding a shrug for punctuation. “I won’t accept their comedy of errors.”
Read more from the New York Times
