Bagels at a Bar mitzvah Part II

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moretrouble

LoanSafe Member
NewRez, a subsidiary of Rithm Capital Corp. has been acquiring subprime servicers (Shellpoint, Ditech, etc... on their website),. For a subprime trust like mine, It bought remaining bonds in whole, then use the trust name to foreclose, then paid itself off pocketing the difference for profit.

For example, they bought the remaining bonds in whole with a stated balance of 10M (balance in the trust) at discount at 75% (they stated that in their financial statement), paid 7.5M. the market value of those properties mortgaged by loans in the trust is about 60M (appreciation since 2005-2007 vintage). After the foreclosures (assuming they foreclose on all the loans). After all said and done, Rithm would make 60M-7.5M + 10M = 62M. That's how they 've been able to pay out 600M in dividends but producing nothing of value.

Here is a clue, if a trust is foreclosing on you but NOT on behalf of the certificate holders, more than likely the parry behind the scene is just using the trust name. And if a subprime loan, it is NewRez (Rithm). Very sophisticated strategy.
 
S

Survivor_IN

LoanSafe Member
Does this mean that "NewR&z" is the investor? or the collection agent? I'm seeing court action that is so aggressive as to qualify as a FDCPA violation. They want the loan in full (with fees and interest) and pressing for a sale gives them leverage. Just my opinion of the newris statement. It has C/O PHfuH WetSpalm Beach Florida.

I am certain they have acquired *some* rights but how do we know which rights? It's so deceptive. They are blocking me from appeal as if I have lost on technical error while simultaneously making same error. They must know I have a chance on appeal or they wouldn't be fighting so hard to prevent it.

Its time to let the merits come out.
 
S

Survivor_IN

LoanSafe Member
moretrouble said:
NewRez stole this house in Washington state for 1.7M. The loan was never in the trust . Attached loan list sorted by ZIP descending, as you can see there is no house with the Zip 98074 in the list. NewRez is trying to pull the same trick on me.
Click to expand...
Gorgeous house!

How does one even know who is bringing lawsuit where the parties create lawsuits using other persons names? Will any named trust do??? While it may be fair or allowed to collect by an agent of the lender, this is not an original creditor collecting a debt ... but a party banking on not being required to provide proof.

What a shame those homeowners weren't able to defend or modify. The courts are ruling on "debt" and disregarding ownership and the right to sue belonging to the right party in interest.
 
S

Survivor_IN

LoanSafe Member
Hey folks!

I discovered a change in that there is a pre-bankruptcy filing form as proof of debt education - a course on debt management - that needs to be completed PRIOR TO bankruptcy. This is important for anyone considering BK as a last minute stay of a scheduled foreclosure sale. The course certificate is good for 180 days (6 months), so I can be done in advance and the proof is ready if/when you need to file.

Upsolve website has good information and links to the federal forms. A couple of these forms need to be filed at the initial BK and others can be filed in catch-up form in 14 days. Taking the "means test" will determine if you qualify for a chapter 7 or should file a chapter 13 in order to make a payment plan. The filing fee costs 325 for a chpter 7 if you are not eligible for a waiver. The filing fees for chapter 13 can be upfront or can be placed into the repayment plan.

Like MoT said, make yourself familiar with this if you are considering a last minute BK to stop the sale.

Bankruptcy Basics:
upsolve.org

Bankruptcy Basics | Upsolve

Learn the basics about how bankruptcy works and how it can give you a fresh start by eliminating your debt.
upsolve.org upsolve.org
 
M

moretrouble

LoanSafe Member
BOfA's attorneys lied again, continues to display contempt's to court. Too bad for them, I have proof that they're lying. They filed a response to my claim objection stating my object should be denied based on presumptions. I rebutted the presumptions with proofs. Now they filed a Supplemental Response claiming Rocker-Feldman. I am writing a response. Stay tuned. Things get interesting.
 
M

moretrouble

LoanSafe Member
Lost on claim objection according to note on hearing, waiting for official order to appeal. Changing my strategy, instead focusing on DEFENDING the foreclosure, I go on OFFENSE will file a tort case in the state court for fraud, violations of UTPA, UFDCPA, state RICO... They can sell sell the house, I'll just add on the damage.
 
S

Survivor_IN

LoanSafe Member
moretrouble said:
I agree with Krafty. Appeal, appeal, appeal, Motion for relief of whatever, for new trial, then appeal again, then go to federal courts. My Judgement for Foreclosure was in Nov 2018. I am still here after 5 years, I am in bk court, still have an appeal pending in the state court, and when I am done with the Federal courts, I’ll file a tor case in sate court if my house is sold. Just keep fighting. It’s not over till the sheriff kicks you out. They have an advantage in the state court because of the holder status. They can fake the note then the judge agrees that it looks real then grant a foreclosure judgement. In bk they have to prove injury and there is none.
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I'm trying to catch up with you... almost there. Fun to be in both federal and state court, but I do have affirmative offense-defenses built in my original and subsequent answers to a million amendments over the past decade or so. The MSJ totally ignored the offsets of my claims against the alleged debt. Of course, the judge gave the banks the ambiguously defined rights of action, leaving liability for my claims unaddressed.

My appeal on the MSJ was approved and my injunction on the sale was denied. Opposing counsel had some convoluted arguments against my motions. Of course, I received none of this. Still waiting on the court order, even after calling to check again and requesting the be sent to me by mail. I am suspicious since this order was not in the court files on March 21 but the alleged date of the orders is March 6 in the e-records. I even went to the courthouse to check the files because I got mocked for not receiving notices and informed I *should have* could have, obtained rulings from the file room. Ya know. I could have went downtown and picked them up, right??? No need to mail these legal papers. Whiner!!!

I am being schooled on different types of appeals. It's not just the final judgment. That injunction denial (on the sale) during appeal is obviously something the judge did not want me to have because there is a 10 day deadline to appeal it. This is a pattern. It also looks like she intentionally backdated the order to before she received my well-referenced response to the bank's objections. Maybe she didn't want me to be able to include those arguments on appeal? Plus, this backdating of orders runs out my appeal time on the injunction, while starting the clock on the appeal of the MSJ and making me past due for the related appeal filings. So much for an "orderly" appeal ...

You are definitely right on moving from defensive to offensive posture. I think that is a major mistake of self-represented litigants. Defense is easier and more comfortable but it only accomplishes the delay and does not necessarily win or end the case on the merits. That is the ultimate goal. Win on the merits.
 
S

Survivor_IN

LoanSafe Member
Hey MoT, I know you've already argued, but this interpretation, if I'm right, appears to presume that Rocker Fellman does not apply if the property sale is not completed and confirmed. At least in Division 7 Illinois. The kidtchen sink is not limited to defendants. lol. Banks throw out things to see what sticks. I've also noticed that some are arguing wrong case law or case law specific to another state.

wislawjournal.com

Rooker-Feldman Doctrine-Foreclosure

The Seventh Circuit addressed a disagreement concerning the proprietors of two Chicago real estate parcels.
wislawjournal.com wislawjournal.com
 
M

moretrouble

LoanSafe Member
Survivor_IN said:
Hey MoT, I know you've already argued, but this interpretation, if I'm right, appears to presume that Rocker Fellman does not apply if the property sale is not completed and confirmed. At least in Division 7 Illinois. The kidtchen sink is not limited to defendants. lol. Banks throw out things to see what sticks. I've also noticed that some are arguing wrong case law or case law specific to another state.

wislawjournal.com

Rooker-Feldman Doctrine-Foreclosure

The Seventh Circuit addressed a disagreement concerning the proprietors of two Chicago real estate parcels.
wislawjournal.com wislawjournal.com
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Their claim was allowed. I am finding out that the bk judge is just as cowardice as the state judge. They know I am correct but can not go against the rich guys. I am going to file a MOD my bk case because I think my time is better spend in state court for now, still us District court to go. I could appeal the claim decision but I still have to make monthly payments and I don't want to do that. I will file a tort case soon, looking for a willing attorney soon.

Survivor, Remember, It not over till you the sheriff kicks you out of the house. Even after that, you can still sue them. Don't give up.
 
S

Survivor_IN

LoanSafe Member
moretrouble said:
Good complaint to use. Use their own documents against them.
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I like the way this is organized, still reading content but is interesting so far. Only 35? Defendants! lol
On the battle front, I have the stay and the sale is cancelled from a bk7. I'm going to be gathering mortgages and any other contracts, but at least I can email to the trustee. Filing at the clerks office was a lot of ink. I'm feeling discrimination of being a self-represented litigant. I can't access filings through Court Net. I dont have a hearing for about a month. I do need to know how to file an adversary proceeding. While I'm there, I need to see what I can do about student loans.
I'm not surprised on the loss, MoT. It was a good shot and there are still other good avenues.
 
M

moretrouble

LoanSafe Member
And if your're over 65 yr old, you can file sue them for financial elderly person abuse: "wrongfully taking property of an elderly person ORS 124. In summary, we still have RICO, mail fraud and wire (5 year SOL) in the federal court and elderly person abuse in the state court.
 
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