Foreclosure Litigation With James Kowalski

The paperwork mess muddying home foreclosures erupted last month. But the legal strategy behind it traces to a lawyer’s gambit in 2006 that has helped keep one couple in their home six years beyond their last mortgage payment.

Lillian and Robert Jackson stopped paying on their home in Jacksonville, Fla., in 2004 when business dropped off at their cleaning company. Eviction might have seemed inevitable when they faced a foreclosure hearing two years later.

But their lawyer, James Kowalski, had the idea of taking a deposition from the signer of the mortgage papers. When a document processor for GMAC Mortgage admitted she routinely signed such papers without being familiar with details of the loans, she was tagged as one of a species now known as robo-signers.

It was a first step in the growth of a legal sub-specialty called foreclosure defense that has sown confusion and turmoil in the housing market. Lawyers in the field now commonly use a technique more identified with corporate litigation: probing depositions, designed to uncover any lapses in judgment, flaws in a process or wrongdoing. In the 23 states where foreclosures entail a court hearing, the bank may be ordered to pay the homeowner’s legal bill if a lawyer can convince a judge that the bank has submitted false documents, such as affidavits saying employees personally reviewed the details of loans when they didn’t.
More at http://LBNnews.com

Duration : 0:7:37

Read more about Foreclosure Litigation With James Kowalski

Nationwide Mortgage – Legal Advice – FHA – Bloomberg Financial News – 2008-12-24 – Mortgage News

Nationwide-Mortgage.com , President & CEO, David Reischer discusses with Bloomberg’s, Margaret Popper, current effect of mortgage applications on residential refinance and home purchase loans. The ability for home owners to qualify for Conforming, Non-Conforming, FHA and Reverse Mortgage loans as effected by stricter underwriting standards due to the recent credit crisis.

Duration : 0:4:0

Read more about Nationwide Mortgage – Legal Advice – FHA – Bloomberg Financial News – 2008-12-24 – Mortgage News

Legal News Headlines 4.21.2010

http://lbnnews.com

Justice Stevens celebrates 90th birthday.
Arizona Immigration bill passes Senate.
Charles Schwab pays settlement over mortgage backed securities.
Supreme Court strikes down law banning animal cruelty videos.

Duration : 0:1:59

Read more about Legal News Headlines 4.21.2010