Recently, many California Courts have been dismissing lawsuits filed to stop non-judicial foreclosures, ruling that the non-judicial foreclosure statutes occupy the field and are exclusive as long as they are complied with.  Thus, in the case where a notice of default is recorded and a lawsuit then filed in response to stop the foreclosure since [...]

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In certain cases, mortgage foreclosure defense can be so effective that the Plaintiff prosecuting the foreclosure is unable to successfully foreclose.  This has been known to happen in cases involving “lost promissory notes” where the foreclosing Plaintiff is unable to prove standing sufficient to enforce the mortgage.
So what happens to the borrower’s status with regard [...]

This interesting article published by MSN Money discusses common mortgage foreclosure rescue scams and loan scams, and others that have recently flourished due to the poor economy.
According to the article, some warning signs that you may be dealing with a mortgage foreclosure rescue scam are if the company:

Has no telephone number or physical address.
Has [...]

With the flood of foreclosures hitting the state, especially in San Diego County, debtors receiving notices of default and notices of trustee sales are scratching their heads, not only trying to understand the intricacies of the upcoming foreclosure and eviction proceedings, but also wondering whether they will be exposed to any deficiency judgment and tax liabilities. Chances [...]

The MBS Market (the financial market that tracks and trades mortgage backed securities) was roiled on Monday as the chances for passage of a new bankruptcy bill continue to improve.  According to the Financial Times (UK), the ABX index fell 6.5 points.
In my opinion, a bankruptcy amendment authorizing Judges to modify mortgages is the only [...]

Effective January 1, 2009, and incidentally, over the amendatory veto proposed by Illinois Governor Rod Blagojevich, a special Homeowner Notice must be attached to all summonses in mortgage foreclosure cases informing the homeowner that the lawful occupants have the right to live in the house until the judge orders possession.
Homeowners must be advised as to [...]

April Charney, a nationally-recognized consumer advocate known for her outspoken attack of the excesses of mortgage securitization, received a slice of the global spotlight on Sunday when Matthew Drudge linked his site to an article running running at the TimesOnline(UK) detailing Ms. Charney’s fight on behalf of homeowners against Habitat for Humanity for selling [...]

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In the previous blog, we explored the players typical in any California Foreclosure.  In this blog, we now turn to whether any of these players actually have the ability to enforce a foreclosure.
Lets assume that an outside foreclosure agent such as Recontrust has a valid agency relationship with an entity that claims it can enforce [...]

In many California foreclosure cases, lenders are all together disregarding the underlying model provisions of UCC article 3 and 9, which California has codified in its California Commercial Code.
These lenders appear to be bypassing the most elementary and beginning stage of any foreclosure proceeding, California Commercial Code 3-301, which governs the underlying promissory note as [...]