Foreclosure filed in 2009 Certified PSA Proves Bank Illegal & Assignment Prove Attorney Committed Fraud. Can I sue Bank & Atty?

Asked almost 2 years ago - Glenwood, IL

Attorney attached fraudulent affidavit & an assignment she signed. I wrote ARDC. Two months later Case Management Calendar Call Order signed by a Judge states Stricken from the call. No further case management conference is required. Checked off is 0032 Non-owner occupied single family home or condominium. I still live in my home. Called the law firm & was told they no longer represent the bank. Called bank & several times was place on hold with no reply. Told for two years case is in loss mitigations however no one in loss mitigations will talk to me and they hang up fast. For almost three years the bank has not contacted me by phone or mail and loss mitigations won't take my calls when I call. Received a check for substantial amount from company name RUSH. What does this mean/

Attorney answers (3)

  1. 1

    Lawyer agrees

    Answered . The check was likely a result of the national mortgage settlement. Rust was the claims administrator for the settlement. As far as getting the bank to respond to you, you might want to file a complaint with the Illinois Attorney General's office and the Consumer Financial Protection Bureau.

    The above response is not intended to create, nor does it create either an attorney-client relationship or an... more
  2. Answered . Do you still live in your home? Is the foreclosure case still active? Those are questions that need to be answered.

    The information in this answer is not intended as legal advice nor do I intend to create an attorney-client... more
  3. Answered . The short answer is yes. However it is more complex than that. Most likely your objective is to either recover the home, or to defeat the foreclosure - both extremely difficult legally and politically. To start its important to look at the complaint (with the exhibits) that the foreclosing bank filed in your matter in conjunction with the PSA filed with the SEC. Understanding and analyzing the PSA governing the plaintiff's conduct in attempting to foreclose is a very precise practice of foreclosure defense. Many attorneys and people talk about securitization and PSA's however reading a PSA versus actually applying it in your case as a legal strategy are two very different things.

    The financial instruments used in the securitization of your loan are extremely complex. To properly unravel the bank's documentation requires a keen understanding of the relationship of laws that govern the PSA including and most specifically the IRS tax code.

    As a firm, we look specifically for loans that were allegedly securitized in a trust. If there is an assignment that is plus. Many of the documents that these trusts have used to foreclose were false documents and by using the banks own admissions and documents provide the leverage and advantage borrowers need in court. The challenge we face as attorneys is identifying the fraud. Between the bank's filed documents with the courts and the documents filed with the SEC it is possible to expose the fraud to your advantage.

    It is strongly urged you find a competent attorney who not only speaks to the subject of securitization but can specifically point to how it will help you and how they intend to use it to your advantage.
    Beware of attorneys who offer bankruptcy as a solution to your problem. You need a litigator not a bankruptcy attorney to use securitization in your foreclosure. Also beware of attorneys who charge you fees for their initial consultation.

    Best of Luck.

    This is by no means legal advice in any way, nor on your particular matter. The above statement is an assessment... more

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Property foreclosure

If you miss too many mortgage payments, your lender can start foreclosure proceedings to take ownership of the property, but it has to follow your state's laws.

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