Category Archives: Trust Deeds

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Distressed Housing: This Too Shall Pass

Posted on by Phil Querin

[Caveats: 1. The following information is solely based upon Oregon law.  Residents from other states should not assume their laws will result in the same outcome. 2. This post is for informational purposes only and should not be relied upon as “legal advice” for your particular situation.  In all cases, you should consult with your […]

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Posted in Deed in Lieu of Foreclosure, Deficiency Liability, Financial Crisis, Foreclosure, Legislation - Oregon, Miscellany, Real Estate/Distressed, Tax Issues, Trust Deeds | Tagged , , , , , , , , , , ,

Oregon to Sign on to 50-State AG Settlement

Posted on by Phil Querin

Word has it that Oregon has agreed to sign on to the 50-state attorneys general settlement with five of the country’s largest banks: Bank of America, J.P. Morgan Chase, Wells Fargo, Ally Financial, and Citi Group.  As in all settlements, neither side will be completely satisfied, and this time is no different.  But it is […]

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Posted in Deed in Lieu of Foreclosure, Financial Crisis, Foreclosure, Legislation - Federal, Legislation - Oregon, Lenders, Loan Modifications, Market Conditions, MERS, Miscellany, Real Estate/Distressed, Realtors, Refinancing, Servicers, Short Sales, Trust Deeds | Tagged , , , , , , , , ,

Sharpe vs. Wells Fargo Home Mortgage – A Critical Analysis

Posted on by Phil Querin

Hypocrisy: [c.1200, ipocrisie, from O.Fr. ypocrisie, from L.L. hypocrisis, from Gk. hypokrisis “acting on the stage, pretense,” from hypokrinesthai “play a part, pretend….” Online Etymology Dictionary] Example: When banks lend money today, they demand absolute transparency of their borrowers. Every “T” must be crossed and “I” dotted.  Signatures, income, credit, employment, all must be verified and re-verified to the nth degree. But […]

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Posted in Fannie&Freddie, Financial Crisis, Foreclosure, Foreclosure Mills, GSEs, Legislation - Oregon, MERS, Miscellany, Real Estate/Distressed, Servicers, Trust Deeds | Tagged , , , , , , , , , ,

Oregon Bank Foreclosures: Frequently Unanswered Questions

Posted on by Phil Querin

The following Frequently Unanswered Questions have been provided in an effort to better understand Big Banks and their systemic inability to explain, answer, or even address, basic questions that pervade the Oregon foreclosure landscape.  Since the they have not offered the slightest explanation to frequently ask questions,  I am compelled to do so.  If  I […]

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Posted in Financial Crisis, Foreclosure, Foreclosure Mills, Legislation - Oregon, Lenders, MERS, Miscellany, Real Estate/Distressed, Trust Deeds | Tagged , , , , ,

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 , , , , , , , , , ,

An Alternative To Judicial Foreclosures In Oregon

Posted on by Phil Querin

The Conundrum. In Oregon we have a foreclosure conundrum:  ORS 86.735(1) requires lenders to record all successive trust deed assignments when non-judicially foreclosing a trust deed.  However, lenders have routinely either lost, never created, or destroyed, their trust deed assignment documents during the securitization frenzy of 2005 – 2007. This means that starting with the subprime […]

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Posted in Deficiency Liability, Financial Crisis, Foreclosure, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Trust Deeds | Tagged , , , , , ,

Oregon’s Shadow Inventory – The “New Normal”?

Posted on by Phil Querin

The sad reality is that negative equity, short sales, and foreclosures, will likely be around for quite a while.  “Negative equity”, which is the excess by which total debt encumbering the home exceeds its present fair market value, is almost becoming a fact of life. We know from the RMLS™ Market Action report that average […]

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Posted in Foreclosure, Lenders, Market Conditions, Miscellany, Real Estate/Distressed, Realtors, Short Sales, Trust Deeds | Tagged , , , , , , , , , ,

MERS Musings – James v. ReconTrust, Bank of America, et. al. Analyzed [Part Two]

Posted on by Phil Querin

[This is Part Two of my post regarding the recent ruling by Magistrate Judge Stewart in the case of James v. ReconTrust, Bank of America, et. al.  here. Part One can be found here. – PCQ] Do All Assignments of the Deed of Trust Need to be Recorded? Mr. and Mrs. James argued that their […]

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

Distressed Homeowners’ Bill of Rights

Posted on by Phil Querin

Having counseled approximately two hundred Oregon homeowners drowning in negative equity, I have discovered that many, if not most, believe that somehow their lenders can literally swoop down and take not only their home, but all of their bank accounts, savings, retirement funds, and/or daily wages.  In truth, the only real power most banks have […]

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Posted in Deficiency Liability, Foreclosure, Legislation - Oregon, Loan Modifications, Market Conditions, Miscellany, Real Estate/Distressed, Short Sales, Strategic Default, 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 , , , , , , , , ,
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