Foreclosure Defenders: Learn MORTGAGE ATTACK

Foreclosure Defenders:
Settle Rather than Sue, but Sue if You Must
Mortgage Attack Offers Tort Complaint Service to Secure WINs in Foreclosure Defense

Broadly Distribute this announcement to your mailing lists.

By now you know that Mortgage Attack (http://mortgageattack.com) provides the gateway to excellent (possibly the best known to man) examinations  of mortgage transactions.  The examination reports REVEALS THE TORTIOUS CONDUCT, contract breaches, and a variety of other violations  underlying the mortgage transaction.

Traditional Service - Exam and Report

Traditionally, you (mortgagor or foreclosure defense attorney) pay  for the examination and receive a written report within 7 business days on the examiner's letterhead.  If you want to sell the service, then you mark it up as you please and send Mortgage Attack the following:

• the signed confidentiality, service, and fee agreement,
• a filled-in questionnaire
• a copy of every document that has anything to do with the mortgage transaction or associated litigation.

Mortgage Attack will provide you with an invoice, and after you pay the invoice, you will receive the examination report by email within about 10 days.

New Service - Exam WITH Tort Complaint

Now Mortgage Attack has unleashed a new added service.  For an additional fee up front, Mortgage Attack will provide the attorney with the examination report styled as a complaint, counter-complaint, and/or cross-complaint, ready for filing in your state court, based on the findings of contract breaches, tortious conduct, and other violations involving the mortgage.

Review of Offer

Mortgage Attack serves as volunteer ombudsman for a litigation services company which provides the examination service and writes the pleading for the attorney who purchases the examination service.  The attorney may then review the complaint and tweak it as desired, then file it.  The complaint will identify causes of action (specific contract breaches, tortious conduct, federal and/or state regulatory violations) and seek jury trial and damages. The complaint can become instrumental in reaching settlement with lender and agents without having to follow through in the lawsuit.  Generally, the lender/agents realize they cannot win against the evidence.  In the event the attorney needs to prosecute the case, the attorney will not need expert witnesses to prove the injury, but may need experts to prove the amount of damages from credit rating injury or appraisal fraud.  Thus, the service puts the attorney in the position of winning for the client at minimal expense. 


How to Use This Offer for Serious Profits

Attorneys, unless you really love drafting possibly erroneous tort or breach of contract complaints, you might want to take Mortgage Attack up on this no-lose offer.  That complaint will let you approach your foreclosure plaintiff with an irresistible recommendation for settlement, especially if you also point the target to this huge predatory lending judgment (nearly $5 million to the borrower because the lender didn't settle).  If you actually file the complaint, your target will probably beg to settle.

Note that the examiner will provide all necessary coaching to the attorney.

Mortgage Attack does NOT recommend that the mortgagor unskilled in litigation undertake the prosecution or negotiation of a tort lawsuit.  I certainly would not undertake it, because I don't want to lose.  I would hire an attorney and pay the normal hourly rate to craft a settlement offer, and I would ask the examiner to confer with the attorney as necessary to ensure success.

No Point for Lawyers to Delay Foreclosures
ATTACK, don't just Pretend-Defend

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You also know by now that most foreclosure defenders only PRETEND to defend, but actually delay the foreclosure a few months while bilking clients for a service the clients don't need.  Mortgagors can ask for a loan mod to stop the foreclosure for months, then offer deed in lieu or buy down the loan balance.  They don't need a lawyer for that.

What does a pretender defender get for that service, about $10,000 to $30,000?

Well imagine this:  Spend a fraction of that on mortgage examination report in complaint format, draft a settlement offer in two or three hours, and take the offer to the foreclosure plaintiff with the report in complaint format and the copy of the above linked $5 Million judgment example.  You spend an hour or so dickering, then land a settlement that leaves the client with the house free and clear, credit report purged of bad marks, and/or a handsome settlement from the bank, your fees paid, and a new reputation as a master CLOSER.

It takes so little actual time, at most a day or two, to use this process, that foreclosure defense lawyers become HERO MORTGAGE ATTACKERS rather than mere Pretender Defenders.

Every so often you get a bank that won't settle, and you go ahead and sue, knowing your skill, combined with examiner coaching, will land a humongous predatory lending judgment in your client's favor.

How do you like that picture?

If you want such a dream to come true in your law practice, you need to get Mortgage Attack to arrange an examination of your client's mortgage transaction FAST.  You can bring that foreclosure to a screeching halt forever IF you take the recommended action.

What action?

Call Mortgage Attack RIGHT NOW (okay, East Coast business hours)

727 669 5511

Click here to send direct email: Mortgage Attack Email

For ANY Mortgagor, Not Just Foreclosure Victims

You might think of this mortgage examination only benefits foreclosure victims, but it applies equally to any mortgagors, even those making house payments with no problem.  It ideally suits realitively wealthy mortgagors who have the money to litigate.

Imagine "owning" a $12,000,000 estate that has a $5,000,000 mortgage.  If the lender over-appraised the estate by a million or so, you got cheated even worse than the millions of buyers of $200,000 residences worth only $140,000.  

Wouldn't YOU like to get your home free and clear?  Can you imagine the multimillion dollar settlement to avoid a tort lawsuit in which you might win tens of millions in punitive damages for predatory lending?  Doesn't it seem like a no-brainer to spend a pittance for a mortgage examination and a complaint against the lender and agents, a complaint that might win compensatory and punitive damages for you in the millions?

The main point:  If you have the money to fund the litigation, should it become necessary, and you can prove the fraud, why hesitate to sue?

Call Mortgage Attack today to get your mortgage examined by a competent group of professionals.

Mort Gezzam

Financial Crisis Inquiry Commission Report

Bob Hurt - Scorn for Govt Fraud

An Ectograph of Biz-Gov Fraud, Greed, Racketeering


The United States Government finally figured out what caused the present financial crisis that skyrocketed unemployment to 15% or more, and jammed realty prices down close to their real values, 30% to 60% of their phony 2008 levels.  The government issued its Financial Crisis Inquiry Commission report and posted it on the web.This report explains the financial crisis in gory detail.  


In a nutshell:


EXECUTIVE SUMMARY - Conspiratorial collaboration between government and the banking, mortgage, and insurance industries resulted in unprecedented sale of realty to unqualified buyers, and unauthorized use of notes in commerce known as securitization, coupled with fraudulent derivative sales and widespread appraisal fraud pillaged investors.  Crooked rocket docket courts compounded the problem in judicial foreclosure states by letting crooked lenders, trusts, and servicers steal realty and throw owners into homelessness.


Now you have the bottom line.  But don't take my word for it. Download and read the report here:


Get and Use the FCIC Report in Court


http://www.fcic.gov/

The above site constitutes SELF AUTHENTICATING EVIDENCE, so you can cite probativeexcerpts of it in your foreclosure fraud, appraisal fraud, or mortgage fraud court case.

You can get a screen capture program here for your browser:

http://www.google.com/search?sourceid=chrome&ie=UTF-8&q=browser+screen+capture

You can use it to capture pages of the report for use in pleadings.

The report summarizes the crisis as follows:



Salient Paragraphs of FCIC Report Summary

------------ FCIC summary of crisis, starting page xvi ---------------

In this report, we detail the events of the crisis. But a simple summary, as we see it, is useful at the outset. While the vulnerabilities that created the potential for crisis were years in the making, it was the collapse of the housing bubble—fueled by low interest rates, easy and available credit, scant regulation, and toxic mortgages— that was the spark that ignited a string of events, which led to a full-blown crisis in the fall of 2008. Trillions of dollars in risky mortgages had become embedded throughout the financial system, as mortgage-related securities were packaged, repackaged, and sold to investors around the world. When the bubble burst, hundreds of billions of dollars in losses in mortgages and mortgage-related securities shook markets as well as financial institutions that had significant exposures to those mortgages and had borrowed heavily against them. This happened not just in the United States but around the world. The losses were magnified by derivatives such as synthetic securities.

The crisis reached seismic proportions in September 2008 with the failure of Lehman Brothers and the impending collapse of the insurance giant American International Group (AIG). Panic fanned by a lack of transparency of the balance sheets of major financial institutions, coupled with a tangle of interconnections among institutions perceived to be “too big to fail,” caused the credit markets to seize up. Trading ground to a halt. The stock market plummeted. The economy plunged into a deep recession.

The financial system we examined bears little resemblance to that of our parents’ generation. The changes in the past three decades alone have been remarkable. The  financial markets have become increasingly globalized. Technology has transformed the efficiency, speed, and complexity of financial instruments and transactions. There is broader access to and lower costs of financing than ever before. And the financial sector itself has become a much more dominant force in our economy.

From 1978 to 2007, the amount of debt held by the financial sector soared from $3 trillion to $36 trillion, more than doubling as a share of gross domestic product. The very nature of many Wall Street firms changed—from relatively staid private partnerships to publicly traded corporations taking greater and more diverse kinds of risks. By 2005, the 10 largest U.S. commercial banks held 55% of the industry’s assets, more than double the level held in 1990. On the eve of the crisis in 2006, financial sector profits constituted 27% of all corporate profits in the United States, up from 15% in 1980. Understanding this transformation has been critical to the Commission’s analysis.

Now to our major findings and conclusions, which are based on the facts contained
in this report: they are offered with the hope that lessons may be learned to
help avoid future catastrophe.

-------------------------- End of Summary from FCIC ------------


Much more text accompanies these conclusions in the report.  READ it



Summary of FCIC Report Conclusions

----------------------- Summary of FCIC Conclusions ------------------

• We conclude this financial crisis was avoidable.
• We conclude widespread failures in financial regulation and supervision proved devastating to the stability of the nation’s financial markets.
• We conclude dramatic failures of corporate governance and risk management at many systemically important financial institutions were a key cause of this crisis.
• We conclude a combination of excessive borrowing, risky investments, and lack of transparency put the financial system on a collision course with crisis.
• We conclude the government was ill prepared for the crisis, and its inconsistent response added to the uncertainty and panic in the financial markets.
• We conclude there was a systemic breakdown in accountability and ethics.
• We conclude collapsing mortgage-lending standards and the mortgage securitization pipeline lit and spread the flame of contagion and crisis.
• We conclude over-the-counter derivatives contributed significantly to this crisis.
• We conclude the failures of credit rating agencies were essential cogs in the wheel of financial destruction.

--------------------End of summary of FCIC Conclusions

Bob Hurt's Opinion of the Mess


In my opinion, Presidents George W Bush and Bill Clinton bear serious responsibility for the crisis because of their idiotic ideas of making sure every adult in America who wanted a house could buy a house.  Next in line, the lender banks intentionally sold mortgage loans to unqualified borrowers.  Then, the Federal Reserve and member banks further encouraged the insanity by refusing to control lenders.  Then lenders involved themselves in wrongful securitizations and derivative sales that AIG and others insurers, including the FDIC underwrote.  These and fraudulent appraisals caused the collapse of real estate prices.


However, the report gives scant if any attention to the reality of 30 years of rampant appraisal fraud in which Realtors, mortgage brokers, lenders, appraisers, and some homeowners FLAT OUT LIED about realty values.  Typically, appraisers ignored replacement cost and income capitalization valuation methods, and focused on market value to determine the worth of realty.  And the Federal Reserve repeatedly jockeyed interest rates so that with every reduction, people rushed to buy a bigger house because they could now afford it.  Speculation drove prices higher to the delight of middle class investors.  As a result, inflated prices when the crisis hit stood as much as 3 times higher than the actual value of the realty, particularly in New York and California where the prices got totally insane.


The report did not reveal anything most studious people did not already know.  But it did provide the concrete GOVERNMENT PROOF of the collusion and racketeering at various levels that collapsed realty values and threw people out of work and out of their homes. Serve MANDATORY JUDICIAL NOTICE to courts of this report. Preach its implications of racketeering to all who will listen, particularly legislators and judges.. The time has come to DEMAND that the courts provide meaningful relief and remedy, not for the crooked lenders, but for their hapless victims.


Demanding Relief for Victims and Penalty for Perps

Courts should cram down every possible mortgage loan to the present real estate value minus all paid-in equity, reschedule it for 30 years with no baloon and 1% over inflation rate.  They should require written contracts signed by both the lender and the borrower, and invalidate the unilateral adhesion agreements without such bilateral contracts.  Courts must stop foreclosures dead in their tracks.  Everyone up the investment chain above the end consumer must suffer the burden of equity loss.

Every legislator, executive, and judge who supported the factors that caused the crisis should permanently leave government without pension.  Legislators must mandate a screaming end to sovereign immunity, particularly judicial immunity. Only heads on a pike will prevent such insanity in the future.


Further, Bob sayeth naught...

till later.


------------
Bob Hurt
2460 Persian Drive #70
Clearwater, FL 33763
727 669 5511
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