Category Archives: Foreclosure Mills

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Judicial or Non-Judicial? Belial Bank Debates How to Foreclose Oregon Homeowners – Part Two

Posted on by Phil Querin

When we last left this telephone conference in Part One, Damien Faust, chief legal counsel for Belial Bank, was regaling everyone with his brilliance in creating the following legal provision that the Big Banks had quietly inserted into every lender’s trust deed forms: “Borrower understands and agrees that MERS holds only legal title to the […]

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Posted in B. L. Zebub, Belial Bank, Financial Crisis, Foreclosure, Foreclosure Mills, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Servicers, Trust Deeds | Tagged , , , , , , , , , ,

A Good Day At The Foreclosure Mill

Posted on by Phil Querin

After several years of toil as a low paid toady for a high-powered foreclosure mill law firm, our intrepid young associate has finally won a case! [Note to the easily convinced: This post is pure satire. The case is real, the ruling is real, MERS is real, but the characters and law firm in the post are […]

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Posted in Foreclosure, Foreclosure Mills, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Trust Deeds | Tagged , , , , , , , , ,

Oregon Foreclosures – What Are The Big Banks Up to Now!?

Posted on by Phil Querin

  “Oh what a tangled web we weave, When first we practice to deceive!” Sir Walter Scott, Marmion, Canto vi. Stanza 17. Scottish author & novelist (1771 – 1832)   There are two new interesting developments on the foreclosure front in Oregon.  But first, here’s a recap of where we’ve been and where we are […]

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Posted in Foreclosure, Foreclosure Mills, Legislation - Oregon, MERS, Miscellany, Real Estate General, Real Estate/Distressed, Servicers, Trust Deeds | Tagged , , , , , , , , , ,

The Lender Lawyers’ Nightmare – Schack Attack!

Posted on by Phil Querin

Arthur M. Schack is a no-nonsense New York judge.  Especially when it comes to foreclosure mill attorneys (FMAs) who don’t take him seriously.  Here is a recent example: HSBC Bank USA, N.A., AS INDENTURE TRUSTEE FOR THE REGISTERED NOTEHOLDERS OF RENAISSANCE HOME EQUITY LOAN TRUST 2007-2, Plaintiff, Index No. 9320/09  vs. Ellen N. Taher, et. […]

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Posted in Foreclosure, Foreclosure Mills, Legislation - Oregon, Miscellany, Real Estate/Distressed, Servicers | Tagged , , , , , , ,

Triage Time At Belial Bank – U.S. Bank vs. Flynn

Posted on by Phil Querin

“…any assignments of the beneficial interest must be recorded in order for a non-judicial foreclosure to comply with the Oregon Trust Deed Act.  The defendant [borrower] presented evidence in Exhibit 104 that by December 4, 2009, and apparently through December 11, 2010, Freddie Mac was the owner of the mortgage and therefore the holder of […]

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Posted in Belial Bank, Foreclosure Mills, Miscellany, Real Estate/Distressed, Servicers, Short Sales, Trust Deeds | Tagged , , , , , , , , , , ,

Recon Redux

Posted on by Phil Querin

“Foreclosure processing delays continue to mask the true face of the foreclosure situation, although there were some clues in the May numbers of what lies behind that mask,” said James J. Saccacio, chief executive officer of RealtyTrac. “First, activity spiked in May for various stages of the foreclosure process in some states, a pattern that […]

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Posted in Foreclosure, Foreclosure Mills, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed, Servicers, Trust Deeds | Tagged , , , , , , , , , ,

Solutions to the Foreclosure Mess in Oregon

Posted on by Phil Querin

  Snidely Whiplash, Arch Villain, Rocky & Bullwinkle Cartoon This post follows on the heels of my discussion of Oregon’s Foreclosure problems, here. At this time, we know two things: (a) The lenders and servicers cannot change our trust deed foreclosure law to accommodate their foreclosure practice; and (b) In fact, they likely don’t have […]

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Posted in Foreclosure, Foreclosure Mills, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed, Realtors | Tagged , , , , , , , , , , , , ,

Exclusive Interview with Belial Bank’s Chief Lobbyist and PR Man Ѱ

Posted on by Phil Querin

Regretfully, I cannot disclose how the following transcript fell into my hands.  I have guaranteed the complete anonymity of my source, who participated in the surreptitious recording of a recent face-to-face interview with Kenneth Y. Slick, III, chief lobbyist and head of public relations for Belial Bank.  Mr. Slick has been affiliated with Belial Bank […]

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Posted in B. L. Zebub, Belial Bank, Foreclosure, Foreclosure Mills, Legislation - Oregon, Lenders, Market Conditions, Miscellany, Real Estate General, Real Estate/Distressed, Servicers | Tagged , , , , , , , , , , , ,

Another Bad Day At The Foreclosure Mill….

Posted on by Phil Querin

sat·ire/ˈsaˌtī(ə)r/Noun – The use of humor, irony, exaggeration, or ridicule to expose and criticize people’s stupidity or vices, particularly in the context of contemporary politics and other topical issues. Wikipedia [The following bit of satire is intended to be read immediately before or after my recent post regarding a class action lawsuit filed against Lender […]

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Posted in B. L. Zebub, Bankruptcy, Belial Bank, Foreclosure, Foreclosure Mills, Miscellany, Real Estate General, Real Estate/Distressed, Servicers | Tagged , , , , , , , , ,
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