ANSWERS, AFFIRMATIVE DEFENSES & COUNTERCLAIMS
ANSWER: In a civil case, an answer is the defendant's written response to the plaintiff's complaint. An answer is generally required to be filed within twenty to thirty days of Service of Process of the complaint upon the defendant.
AFFIRMATIVE DEFENSES: An Affirmative Defense is generally part of an answer to a charge or complaint in which a defendant takes the offense and responds to the allegations with his own charges against the plaintiff for the plaintiff’s perceived wrongdoing.
DISCOVERY: DEFINITIONS, TYPES, OBJECTIONS & FORMS
DISCOVERY: Discovery is defined as the entire efforts of a party to a lawsuit and his/her/its attorneys to obtain information before trial through demands for production of documents, depositions of parties and potential witnesses, written interrogatories (questions and answers written under oath), written requests for admissions of fact, examination of the scene and the petitions and motions employed to enforce discovery rights.
TESTED MOTIONS, RESPONSES AND DIRECTIONS
Reasons Why Your Affidavit (Or Assignment) is False or Fraudulent:
Following this chapter is a list of the top 200 reasons why an affidavit or assignment is false or fraudulent. If any of those reasons apply to or are contained in your document then the chances are great that the plaintiff bank has offered an affidavit (or assignment) that can be challenged in court as a fraudulent document.
Foreclosure Definitions
INTRODUCTION: The Federal Real Estate Settlement and Protection Act (RESPA) gives a borrower certain rights and lays out certain procedures that must be followed by lenders when making home loans.
QUALIFIED WRITTEN REQUEST: A Qualified Written Request (QWR) is your legal right to access all necessary information regarding your loan under the Real Estate Settlement and Protection Act (RESPA).
DEBT DISPUTE LETTER: A Debt Dispute letter is the necessary document that must be sent to a debt collector in order to properly dispute a debt.
LEARN MORE IN THE
The Definitive Guide to Foreclosure Defense
JUDICIAL VS. NON JUDICIAL Foreclosures
The procedure for handling foreclosure differs in each state.· Foreclosures are controlled by state law. Foreclosures are not federally controlled although there are relevant statutes such as the National Housing Act and relevant guidelines imposed on federally supported organizations such as Fannie Mae and Freddy Mac.· It is very important to understand the differences and know the specific procedure in your state.· Seek out the statutes or the procedures for your state.· Inform yourself of the law and those procedures.· It is not rocket science.· If lawyers can do it surely you can, too.· Included in the Appendix following this chapter is a chart that gives a brief outline of the type of foreclosure procedure in each state as well as the time frame involved. The terms used and timeframes vary from state to state, but the information provides an overview of the different processes.· We have also included in the Appendix following this Chapter a state by state guide to the laws of each state.
Example of Timeline: California
WHEN A DEFAULT AND FORECLOSURE TAKE PLACE
Bank of America Has Modified 50,000 Mortgages
By RUTH SIMON 5-26-09
Bank of America Corp. has so far modified mortgages for more than 50,000 borrowers as part of its settlement of predatory lending charges brought by state attorneys general against Countrywide Financial Corp.
The move potentially saves financially troubled homeowners as much as $823 million, according to a report provided to state officials this week.
Under the terms of the settlement, which covers 390,000 borrowers, Bank of America agreed to, where possible, modify the terms of certain subprime mortgages and option adjustable-rate mortgages serviced by Countrywide, which was acquired by Bank of America last year. The report covers modifications offered or made between December and March. Forty-two states have signed on to the settlement. At the time the settlement was announced, Bank of America said reductions in principal and interest could save borrowers up to $8.4 billion.
Bank of America neither admitted nor denied wrongdoing in the case. Attorneys general in a number of states including California, Florida and Illinois had filed lawsuits taking issue with Countrywide's marketing and sale of risky mortgage loans.
Appraisals Roil Real Estate Deals
Conservative Approach to Home Pricing Makes It Harder to Refinance or Sell
By JAMES R. HAGERTY and RUTH SIMON 6-09-09
Appraisals are becoming one of the biggest obstacles for Americans trying to sell their homes, refinance their mortgages or tap into home-equity credit lines.
During the housing boom, appraisers often complained of pressure from lenders to inflate home-value estimates to justify dubious mortgage lending. Now, some people in the mortgage business -- and some borrowers -- say the pendulum has swung too far the other way.
Do Loan Modifications Work?
Nick Timiraos
5-26-09
Fitch Ratings has a report out today that looks at how well loan modifications work, as the WSJ notes Tuesday. The upshot: between 65% and 75% of modified subprime loans will become 60-days or more delinquent again within a year of the loan modification.