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Thursday, 02 January 2014 14:30

ATTENTION LAWYERS: ARE SERVICER ADVANCES ARGUABLY A NOVATION

Written by  Neil Garfield
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Where “servicer” advances to the trust beneficiaries are present, it explains the rush to foreclosure completely. It is not until the foreclosure is complete that the payor of the “servicer” advances can stop paying. Thus the obfuscation in the discovery process by servicers in foreclosure litigation is also completely explained. Further this would open the eyes of Judges to the fact that there may be other co-obligors that were involved (insurers, credit default swap counterparties etc.). Thus while the creditor is completely satisfied and has experienced no default, the servicer is claiming a default in order to protect the interest of the servicer and broker-dealer (investment bank). It is a lie. — Neil F Garfield, http://www.livinglies.me

This is not for layman. This is directed at lawyers. Any pro se litigant who tries doing something with this is likely to be jumping off a legal cliff so don’t do it without consultation with a lawyer. If you ARE a lawyer, you might find this very enlightening and helpful in developing a strategy to WIN rather than delay the “inevitable.”

I was thinking about this problem when the servicer advances are paid. Such advances are in an amount that satisfies the creditor. If the creditor is named as the real party in interest in a foreclosure, there is an inherent contradiction on the face of the situation. Someone other than the creditor is alleging a default when the creditor will tell you they are just fine — they have received all scheduled payments. Even though it is most likely that the money came from the broker-dealer I was thinking that this might be a novation or a failed attempt at novation.  A definition of novation is shown below. Here’s my thinking:

1.  the receipt of payment by the trust beneficiaries satisfies in

Read more http://livinglies.wordpress.com/2014/01/02/attention-lawyers-are-srevicer-advances-arguably-a-novation/

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