Tag Archives: Unlawful Detainer

Does this sound about right….

Does this sound about right….

This following is one of the most common stories throughout the United States that you will hear when discussing someone's personal foreclosure story .

“… all of this started with the servicer telling us to stop payments to make sure we would be in a better position for a modification.  We were current on our mortgage, however, were discussing our personal financial issues that we saw coming up on the horizon for us that concerned us and we were trying to make arrangements.”  The servicer tells a homeowner to go behind if they wish to obtain any government sponsored relief.  Homeowner goes behind and is now in default.  A judicial foreclosure or a non-judicial foreclosure begins.

The Servicer immediately cashes a credit default swap for some percentage of the mortgage balance and has some split with the investor.  Then they send 10 or 15 sets of mortgage modification applications to the homeowner and collect payments of $300 ea under their HAMP servicing agreement with the fed.  Then they offer a trial modification to the homeowner and promise that it will convert to a permanent mod if the homeowner makes all of their payments on time.  The bank loses the paperwork 3 or 4 times and charges the fed each time they process a new application and charges the fed again for sending the 3 new applicatons to the homeowner.  Less than 3% of the time. the homeowner is approved for the temporary modification and starts paying the narrowly reduced payments while the servicer dual tracks the homeowner for foreclosure and hires LPS, the parent company to LSI Title to file some fraudulent assignments in the name of the deceased bank the servicer bought the servicing rights from (countrywide, world savings, indymac, whoever).

The servicer shoplifts the temporary payments while the homeowner thinks they are going to the MBS towards P&I thus putting the homeowner further behind and fucking their own MBS investor. The servicer gets paid a fee by the fed for servicing the temporary mod under their HAMP servicing agreement. The servicer denies the modification and forecloses on the property and collects a fee from the investor for servicing the foreclosure and collects an 80% FDIC loss share payment from the FDIC which it splits with the investor. The house is sold, and as in our case to a company that buys foreclosure properties in bulk for less that their retail value which is done to manipulate the real estate market, and the investor recovers the reo value less the banks reo sale fee.  The company that buys the foreclosed property works with the servicers in order to manipulate the market as a whole.  The Non Judicial foreclosure process is a fast food style of law where the Unlawful Detainers get stream lined and rubber stamped by the Judges because the Judges are making a profit on each property in the process as a percentage to look away.

The only reason any of this could take place is due to the fact that the Legislation changed the Servicing powers and the ability to transfer the Trusteeship of the Deed of Trust.  The Registrars and everyone else mistook this legislation to mean that the Trustees can be reassigned by the Beneficiary or Servicer and possess the rights of the primary Trustee named on the Deed of Trust that was originally signed by all parties.

The illegal government rubber-stamped dismantling of the middle class. How can you ever stop a ruling class from doing something that is this lucrative???

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I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

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©2014-2018 Doug Boggs All Rights Reserved

Amended August 17, 2018 – AB 354 Institutional investors (see the fine print)

Amended August 17,2018 – AB-354 Institutional investors: housing.(2017-2018)

(SEE THE FINE PRINT IN BLUE BELOW)

Date Published: 08/17/2018 12:10 PM

 

AMENDED  IN  SENATE  AUGUST 17, 2018

AMENDED  IN  SENATE  JUNE 26, 2018

AMENDED  IN  SENATE  JULY 03, 2017

AMENDED  IN  ASSEMBLY  MAY 01, 2017

AMENDED  IN  ASSEMBLY  APRIL 18, 2017

AMENDED  IN  ASSEMBLY  MARCH 28, 2017

 

CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

ASSEMBLY BILL

No. 354


 

Introduced by Assembly Member Calderon


February 08, 2017

 


An act to add Division 21 (commencing with Section 60000) to the Financial Code, relating to housing investors.

LEGISLATIVE COUNSEL’S DIGEST

AB 354, as amended, Calderon. Institutional investors: housing.

Existing law establishes the Department of Business Oversight within the Business, Consumer Services, and Housing Agency.

Existing law, the Economic Revitalization Act, establishes the Governor’s Office of Business and Economic Development, also known as GO-Biz, under the control of a director. Existing law requires GO-Biz to serve the Governor as the lead entity for economic strategy and authorizes it to undertake specified activities, including marketing business and investment opportunities in California by working in partnership with local, regional, federal, and other state public and private institutions.

This bill would require an institutional investor, as defined, to register by July 1, 2019, and annually thereafter, with the Department of Business Oversight by providing a statement containing certain information, including, among other things, the total number of single-family homes in the state that are owned by the institutional investor, including the number owned in each county, and the number occupied by renters throughout the state, and in each county. The bill would authorize the department to charge a reasonable fee to process the registration. The bill would require the department to submit a report to the Legislature by July 1, 2020, and annually thereafter, regarding the information collected from institutional investors during the prior calendar year pursuant to the provisions of this bill.

Vote: majority   Appropriation: no   Fiscal Committee: yes   Local Program: no  


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

SECTION 1.

Division 21 (commencing with Section 60000) is added to the Financial Code, to read:

DIVISION 21. Institutional Investors

60000.

(a) An institutional investor shall register by July 1, 2019, and annually thereafter, with the department by providing the Department of Business Oversight with a written statement of all of the following for the prior calendar year: 

(1) The total number of single-family homes in the state that are owned by the institutional investor, including the number that are owned in each county, and the number that are occupied by renters throughout the state, and in each county.

(2) The total number of single-family homes in the state annually purchased by the institutional investor.

(3) The total number of offers to purchase single-family homes in the state made by the institutional investor.

(4) The total dollar value of single-family homes owned by the institutional investor in the state and the total dollar value of single-family homes owned by the institutional investor that are occupied by renters.

(5) The total number of single-family homes that are sold to existing tenants.

(b) The department may charge a reasonable fee to administer the registration required pursuant to subdivision (a).

(c) For purposes of this section, “institutional investor” means a publicly traded company or corporation that owns more than 100 single-family homes in the state during a calendar year that are occupied by renters and that have a total value of more than ten million dollars ($10,000,000). An institutional investor may use an automated valuation model to estimate the value of homes it owns for purposes of determining whether the ten-million-dollar ($10,000,000) threshold required by this subdivision is met.An institutional investor does not include a lienholder that acquires ownership of a single-family home through a judicial or nonjudicial foreclosure.

(d) For purposes of this section, “single-family home” means a home that is alienable separate from the title to any other dwelling unit or is a subdivided interest in a subdivision. 

(e) (1) Notwithstanding Section 10231.5 of the Government Code, the department shall submit a report to the Legislature by July 1, 2020, and annually thereafter, regarding the information collected pursuant to subdivision (a) during the prior calendar year.

(2) A report required to be submitted pursuant to this subdivision shall be submitted in compliance with Section 9795 of the Government Code.

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NOTE FROM MyCourtHistory:

The problem we have here is something that was part and parcel of my litigation against Wells Fargo.  In an illegal Unlawful Detainer ( which all of them are in the state of CA), a large part of the fraud against the court is the institutional investor groups that are in collusion with the illegal trustees, that pay off the corrupt judges.

Part of litigation strategy I used in my case was to file a Lis Pendens against the property upon receipt of the Unlawful Detainer claim against me, the property owner.   What this action does is place into the public record of a legal action, or an encumbrance, against the property.  This creates the line of litigation directly on to the person who then purchases the property in a Trustee Sale.  The new owner will become part and parcel of the open litigation.  They are unable to use the property, to take over the property, to claim right to the property until the open litigation is complete.  The new owner purchases any and all encumbrances against the property.

This tactic is used to keep most people from buying properties that are in litigation.  Therefore, it is a tactic used to stave off a Trustee Sale.  Any and all parties that are part and parcel of the Trustee Sale become part and parcel to the litigation by the property owner adding that party to the lawsuit as a DOES.  This is not what most homeowners wish to participate in, and it is not a very sound business strategy for institutional investors to buy properties in litigation.

Usually, the argument by the buyer would be that they were unaware of the litigation.  They will lay claim to the fact that they are Bone Fide purchasers.  This term is used do to the leniency the court offers non-institutional home purchasers.  Therefore, I found this new amended version of this bill quite troubling.  The legislation has just eliminated the institutional buyer from the overall protections allotted using the filing of a lis pendens.

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I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

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©2014-2018 Doug Boggs All Rights Reserved

I’ve reached a milestone! It’s time for a call for action!

Thank you to all of you who have joined my blog project that I began nearly four years ago, as today I celebrate that I’ve reached a milestone of over 2500 subscribers so it’s time for a call for action!

This project began as a catharsis for me to get out my story regarding my lawsuit I filed against Wells Fargo for fraud while using it as a platform to inform others around the United States and the world of what I have learned of the fraud and corruption in the foreclosure industry, the financial industry, and our judicial system here in the United States  That lawsuit was the the hardest thing I have ever had to do and it came at the hardest time in my life.

I received my first fraudulent foreclosure documents from the defendants on Dec. 31, 2010,  while being current on my mortgage, despite the fact that I had not worked as a builder and real estate developer for nearly two and a half years at that time due to the collapse of the economy created by the defendant and other Wall Street financial behemoths, I was confused at the entire situation.  With no money to hire a lawyer, I had to act as my own attorney.  I quickly began researching and collecting information in order to formulate a lawsuit which was filed in February 2011.   Learning the legal language, rules and procedures in order to understand fraud and contracts and the laws of the foreclosure industry in the state of California was a very daunting task.  Learning the procedural intricacies of the rules of how to write and submit a lawsuit was also a very daunting task.  Doing both of these tasks at the same time while running against the timeline of losing my home was extremely challenging and very hard on my marriage.

I was able to stop the impending foreclosure action while the litigation took us through California Superior Court where I had filed the lawsuit originally.  Shortly after filing in the state, the defendants remanded the lawsuit to the federal court level to where I then needed to learn the new set of rules dealing with that court system as well, all the while, maintaining the timelines and filing deadlines of all of the motions, responses, and other moving documents that are part of a lawsuit in our judicial system.

Over these past years of writing this blog I have come in contact with thousands of people who have had to deal with their own foreclosure stories.  Each story is unique to every family and their own battles.  Some have had to deal with financial troubles or health issues or both while at the same time attempting to save their home.  There is one thing that I have noticed talking with every person and helping many go through hundreds or thousands of documents is that they have had to learn and come to realize the depth of fraud that is involved.  I have found that there is fraud in every case I have ever come across.  The level of deception by the financial industry is astounding.

Not only have I been working on this blog to help expose some of the fraud in the financial and foreclosure industries, I have also been authoring two books that I am releasing.  One is titled, “The Unlawful Unlawful Detainer” which details my own unlawful detainer case, and the other is titled “A Quantum of Justice” which follows my lawsuit against Wells Fargo Bank and goes in depth of the financial and foreclosure industries, and how it affects you at home without you even knowing.

A CALL TO ACTION

As I reach this milestone of 2500 subscribers I have decided to begin the production on the documentary film that will follow up the two books I am releasing.  I will be interviewing Senators, Congresspersons, judges, lawyers, lobbyists, and many homeowners throughout the country to help me consolidate and expose the level of fraud that is involved in every home across the United States.

Now, you may have noticed that I stated in “every home” and not “in every home loan transaction” across the United States.  This is because I will show how there are people who have been foreclosed on by a bank who paid cash for their home and have never acquired a loan.  I will show that there are people who have been foreclosed on who have acquired a loan while they were dead and buried.  I will show that there are people who have been foreclosed on by banks that they have never done business with.  This and much more will be exposed giving all pause as to their level of trust in our corrupt systems.

I am currently working with a couple of CA state Senators to help change some of the rules of law that have allowed some of the foreclosure atrocities to manifest.  I am helping to shed light and to show them what legal nuances are being manipulated in order for the millions of illegal foreclosures that have taken place and continue to happen on a daily basis.

If you have not yet subscribed to this blog I urge you to do so and you will receive discounts for my books upon release.  You will also receive a discount on the DVD or download of the film when it is completed.  There will be other specials that will be offered to my blog subscribers as these projects move forward, so don’t hesitate to subscribe today!

If you have a story to tell  you can contact me through my blog.  I welcome to hear from you, my readers, who now span throughout the globe.  I look forward to hearing from you as I begin to prepare my journey across this great country of ours and sit across from you at your own kitchen table to discuss these issues that our government has done nothing to help subside.  My film project will take the information exposed in the Oscar winning films “The Inside Job” and “The Big Short” and bring it home to the living rooms of every family across the country showing how all of this corruption affects you and you don’t even know it.

Again, thank you for your continued readership.  Please tell your friends and others you may know who might benefit from this information and have them subscribe, as you have, as well.

If you would like to help be a part of this documentary, or know someone who might be in a position to assist in this project, I welcome to hear from you through my blog.  I know I have many readers from the film industry and many readers that might be in a position to help financially to be a part of the Executive Production team.  I welcome to hear from you.

 

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I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

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©2014-2017 Doug Boggs All Rights Reserved