Tomorrow, a bank—not your bank, but any bank—could evict you from your home. Even if you didn’t know the bank was foreclosing. Even if your mortgage is paid off. Even if you never had a mortgage to begin with. Even if the bank doesn’t hold a single piece of paper that you signed. And major banks not only know this fact, but have spent millions of dollars to defend it in court. Why? The answer starts with a Jacksonville homeowner named Patrick Jeffs.

In 2007, Deutsche Bank sued Jeffs for his home, which is a necessary step in the process of foreclosing on a homeowner in the state of Florida. Curiously, despite the fact that he immediately hired a law firm to defend his property when he found out about the foreclosure, neither Jeffs nor his attorneys were at the trial. That’s because it had already happened. Deutsche won by default because Jeffs wasn’t able to travel backwards in time to attend, even though the trial featured a signed affidavit indicating that he had been served his court summons.

The only problem with the summons Jeffs supposedly received was that it had been conjured out of thin air.


One nation, under fraud Joseph Tauke, The Daily Caller

 

n law, a case can be dismissed two ways: one is without prejudice,  which means that the plaintiff can bring a new case on the same matter up until the statute of limitations runs out; the other way, “with prejudice” means that the plaintiff can never bring that case again (unless an appeals court overturns the with prejudice designation). It’s like those spy thriller movies when assassins are told to terminate a target with extreme prejudice, a/k/a kill the target. To dismiss a case with prejudice kills the case.

This is bad news for banks and securitized mortgage trusts with sloppy paperwork, which I’m told pretty much describes most of those mortgage backed security trusts.

So, judges in Florida are getting clued in. Judges in Massachusetts are getting clued in. Judges in the great state of New York (OK, I’m a bit biased) are doing the heavy lifting on figuring this out. How about the rest of you? Got any cases in your home state that we should know about? Are judges in your home state starting to understand that foreclosures should be carefully scrutinized and not rubber stamped?

Foreclosure Law News: Terminate with Extreme Prejudice FireDogLake

© 2012 New Jersey CFO Suffusion theme by Sayontan Sinha