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Finally a federal judge with a brain

Home Forums General EHTrust/EHT Topics and Creative Real Estate Financing Finally a federal judge with a brain

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  • #4410
    Avatar of bill_gatten
    bill_gatten
    Participant

    By Michelle Washington
    The Virginian-Pilot
    ?? January 25, 2008
    NORFOLK VIRGINIA

    A federal judge has dismissed a lawsuit in which a couple claimed a home mortgage broker tried to trick them out of their house.

    The lawsuit was transferred to federal court after it was filed in Norfolk Circuit Court last year.

    Marion and Vivian Johnson had said they sought help from D and D Home Loans when financial troubles caused them to miss payments on their house.

    They said D and D President Warren Mike Robinson and an investor named Jason Washington told them the only way to refinance was by signing away the deed to their house and using a private investor to obtain a new loan. Then, they claimed D and D left them with higher payments and, when they fell behind, attempted to evict them from their home.

    In a ruling entered Wednesday, U.S. District Judge Jerome B. Friedman said the Johnsons signed contracts to sell the house to Washington without reading the papers or asking questions.

    “The record and signed documents unambiguously demonstrate that Washington would purchase the Johnsons’ house, pay off the mortgage and then the Johnsons and Washington would enter into a lease/buy-back arrangement,” Friedman wrote.

    The Johnsons received the proceeds from the sale of their house, Friedman wrote, and were given the option to repurchase it with a down payment and monthly payments. Instead, they stopped paying their lease to Washington, thereby losing their option to buy.

    Washington’s lawyer, John Lynch, said a key part of the ruling was Friedman’s finding that the Johnsons did not have an “equitable mortgage,” or a borrower-lender relationship with Washington. The Johnsons owed Washington nothing after the sale of the house and could have walked away without making any further payment, Friedman wrote.

    Tanya Bullock, the lawyer who filed the Johnsons’ lawsuit, did not return a phone call to her office on Thursday.

    Michelle Washington,

    -0-

    Thanks to network member J.E. Hutchens for this article.

    #24463

    In some States there is what is called a “Lender Lease Back Law” which prohibits someone from deeding a property to someone else in return for bringing a delinquent loan current or purchasing the property and doing a “Lease Back” with an Option to the original owner. Apparently that is not the case in Virginia, or is no longer anyway.

    #24464
    Avatar of hiddenmarket
    hiddenmarket
    Member

    Is there a leaseback law in California?

    Thanks in advance for your response!

    #24465
    Avatar of mtnwizard49
    mtnwizard49
    Member

    It wouldn’t make a difference if there was, because we don’t take title from the seller and then lease it back to him. The Seller ALWAYS retains a beneficiary interest in the trust and remains an owner of his property. He transfers title to his Trustee, which is protected by Garn-St. Germain.

    #24466
    Avatar of jim_pasquini
    jim_pasquini
    Member

    @hiddenmarket wrote:

    Is there a leaseback law in California?

    Thanks in advance for your response!

    Yes, there is.

    If you’re going to do business in California with homeowners that have been served a notice of default you’d be well served to review http://www.foreclosures.com/www/pages/state_laws2.asp?state=CA

    #24467

    @hiddenmarket wrote:

    Is there a leaseback law in California?

    If one of the hidden questions in your questions is, “How do we do it in California with the EHTrust if there is such a law”, then you will find many posts on the subject.

    Yes, you can use the NARS EHTrust to avoid the Lender Lease Back and Foreclosure Rescue Laws but, you better do it Exactly Right or if there is a problem, you will be treated just like any other lawbreaker.

    I’ll see what I can do about resurrecting some old posts on the subject. I’m sure Gary will be able to find some. I still can’t figure out how to search a topic.

    #24468

    I THANK GOD FOR PROVIDING ME WITH THE VIGOR, TENACITY, DETERMINATION, AND SUPPORT OF MY WIFE AND FAMILY TO ENDURE THIS FIGHT. I HAVE LOST/SPENT $3.5 MILLION IN DEFENDING THE TRUTH (AS AN INNOCENT, UNINTERESTED 3RD PARTY) IN THESE TRANSACTIONS. THE PLAINTIFFS CAME TO OUR COMPANY–COULD NOT QUALIFY FOR ANY TYPE OF REFINANCING TRANSACTION. THE PLAINTIFFS ADMITTED THEIR CREDIT WAS “JACKED UP, FORECLOSURE WAS IMMINENT, AND THEY HAD NOT FILED FEDERAL OR STATE TAXES IN 5 YEARS.” MR JOHNSON COULD NOT MAINTAIN A JOB. THEY REQUESTED THEIR WAY UP THE CHAIN OF COMMAND TO MY OFFICE. WITH TEARS STREAMING OUT OF THEIR EYES, BEGGING ME FOR HELP, I REFERRED THEM TO 6 DIFFERENT INVESTORS WHOM PURCHASED THEIR HOME AND ASSISTED THEIR NEEDS. IT WAS ONLY AFTER THEY STOPPED PAYING BY SEVERAL MONTHS (EACH PLAINTIFF BY MORE THAN 6 MONTHS IN DEFAULT), DID THE PLAINTIFFS LOSE THEIR MEMORY AND DECIDE TO SUE ME BECAUSE THEY THOUGHT IT WOULD BE AN EASY “SHAKE DOWN”. THERE WERE 6 CASES TOTAL AND OUT OF THEM 3 PLAINTIFFS WERE PART TIME LOAN OFFICERS WHICH WORKED FOR MY COMPANY, 1 FORMER HIGH SCHOOL FOOTBALL COACH, 1 DIRECTOR OF A SCHOOL, 2 MINISTERS, 1 FORMER LEGISLATIVE AID AND MOST WERE COLLEGE GRADUATES. THEY ALL FORGOT THEY SOLD THEIR HOMES AND ATTENDED A REAL ESTATE CLOSING WITH AN ATTORNEY. THE NEWSPAPER, LOCAL, AND NATIONAL TELEVISION REFUSED TO AIR THE DOCUMENTED TRUTH. I HAVE BEEN ON/IN NIGHTLINE, CBN, NATIONAL MAGAZINES, AND NEWSPAPERS AND NOT ONCE HAS ANYONE AGREED TO RELEASE THE TRUTH ABOUT THE BENEFITS THESE PLAINTIFFS RECEIVED (CASH,ABILITY TO STAY IN HOME,DEBT CONSOLIDATION,THE ENTIRE TRANSACTION BEING IN CLEAR AND PLAIN ENGLISH). THE PLAINTIFFS WERE REPRESENTED BY THE SAME ATTORNEY, WHOM DESTROYED MY OTHERWISE SUCCESFUL 15-YEAR CAREER FOR SIMPLY TRYING TO BE A GOOD CHRISTIAN AND HELP MY FELLOW MAN. ATTY. TANYA BULLOCK HAS BEEN DIRECTLY/INDIRECTLY INVOLVED WITH MY TOTAL DEMISE (IRS, BUREAU OF FINANCIAL INSTITUTIONS, VIRGINIA EMPLOYMENT COMMISION, CHESAPEAKE COMMONWEALTH ATTORNEY’s OFFICE, etc…) BEFORE I MET TANYA BULLOCK OUR COMPANY HAD NEVER HAD A COMPLAINT WITH THE BBB OR ANY REGULATORY BODY AND I HAVE BEEN RESPONSIBLE FOR THE ORIGINATION OF TENS OF THOUSANDS OF LOANS. LAWS NEED TO BE CREATED TO PROTECT HONEST BUSINESS PEOPLE FROM OVER ZEALOUS/ YOUNG ATTORNEYS TRYING TO CREATE A NAME FOR THEMSELVES AT ANY COST, EVEN IF THEY HAVE TO MANUFACTURE LIES AND DESTROY PEOPLES LIVES. I NOW HAVE SEVERAL PENDING FORECLOSURES, HAD TO SELL ALL VALUABLES, AND ALMOST LOST MY FAMILY (WHICH REALLY IS THE ONLY THING I TREASURE ON EARTH). THE TRUTH CAN STAND ALONE IF IT CAN EVER GET OUT. ATTY BULLOCK HAS LOST EVERY TIME WE ENTER A COURTROOM BUT SHE REFUSES TO LEAVE ME ALONE OR STOP MISREPRESNTING THE TRUTH. I CAN NOT BELEAVE SHE GETS AWAY WITH LIEING TO THE CAMERAS, JUDGES, PUBLIC AND CAN CONTINUE FILING THE SAME LIES OVER AND OVER.

    #24469
    Avatar of mtnwizard49
    mtnwizard49
    Member

    For those who are interested, I conducted some research and found the details of this case at:

    http://hamptonroads.com/node/269311

    http://hamptonroads.com/node/312731

    It appears that Mr. Robinson is a mortgage broker who was not using our system at all. Here is a portion of that article:

    At least three lawsuits have been filed against mortgage company D and D Home Loans and others by people who say the broker tried to trick them out of their homes.

    Lawyer Tanya Bullock, who filed the actions on behalf of all three plaintiffs, claimed in court papers that the company’s actions “expose a classic foreclosure rescue scam.”

    “The scammer tells the homeowner that to refinance the home title must be transferred to someone else with better credit, so that new financing can be obtained,” she wrote.

    D and D assured the homeowners that they could remain in their homes, make lease payments and buy back the house later, according to the complaint.

    “After the deed is signed away, the scammer evicts the homeowner,” Bullock wrote.

    She said the homeowners signed away the deed to their houses for as little as $10.

    The homeowners lose the house and any equity they have in it when D and D sells the house for fair market value, Bullock wrote.

    Lawsuits have been filed in Chesapeake and Virginia Beach. A third originally filed in Norfolk has been moved to federal court.

    All of the lawsuits are filed by people who say they sought help from D and D when financial troubles led them to miss mortgage payments.

    Each of the plaintiffs – Darrell Sa’lley in Virginia Beach, Jeffrey L. Sims in Chesapeake and Marion and Vivian Johnson in federal court – said in court papers that they believed D and D was helping them to refinance their home loans in order to avoid foreclosure.

    Instead, they said, D and D tricked them by saying the only way to be refinanced was by signing away the deed to their houses and using a “private investor” to obtain new loans. Then, they claim, D and D left them with higher payments and, when they fell behind, attempted to evict them from their homes.

    #24470
    Avatar of bill_gatten
    bill_gatten
    Participant

    I really appreicate Mike’s posting here.

    This is a clear example of what these mooches out there (the attorneys not the homeowners) are willing to do to good and honest people, merely because they can. It’s not at all unlike the guy who saves a lady’s life by knocking her to the ground to prevent her from being hit by a speeding bus, then getting sued because she twisted her ankle in the process.

    I’ve never had much regard for the legal system anyway (not to mention scum-bubble lawyers), but after seeing Mike’s letter and others like it…I’m ready to go back to ancient Greece (see The Frogs by Aristophanes) and kill all attorneys who can’t float with their hands tied behind their backs, and with their feet in a sack of rocks (that part’s not in the play, but you get the idea).

    What Aristophanes said of most significance was that the chance of succeeding in business is about 1 in 10; whereas only half of all criminals are ever apprehended; therefore, one would be wiser to seek a life of crime than to try to be an honest entrepreneur. And if one wishes to combine both (crook and business man)…then be a lawyer. (Not an exact quote, but…oh well, the guy croaked 2,000 years ago…so whaddya want from a dead Greek?).

    Bill

    #24471
    Avatar of homesavers
    NULL
    Member

    Gotta have a better Gunfighter. The poor guy experienced the power of the liberal Media combined with a hungry Attorney. Not a good combination. Why is it that the Law does not stand on it’s own but it has to be interpreted? You could lose even if you are right. Doesn’t make any sense. It keeps life interesting though because you never know if you are going to get shot in the back.

    #24472
    Avatar of areyes
    areyes
    Member

    why not deal with the homes with no equity?
    the seller can’t claim to be taken advantage of when they have nothing.

    :D

    #24473
    Avatar of mtnwizard49
    mtnwizard49
    Member

    Alvin hit the nail on the head. Janis Joplin said it best:

    “Freedom’s just another word for nothing left to lose”.

    #24474
    Avatar of bill_gatten
    bill_gatten
    Participant

    @mtnwizard49 wrote:

    Alvin hit the nail on the head. Janis Joplin said it best:

    “Freedom’s just another word for nothing left to lose”.

    Not to be contrary, Gary, but although your assertion may in fact be true; the fact remains, however, that nothing really isn’t worth nothing (the double negative perhaps indicating that nothing IS worth something)…unless it’s free–in which case, from a Logic standpoint, it’s still worth nothing if one considers that something for nothing can only be worth what one pays for it, which is, in this case…well…nothing.

    Bear in mind though that my take on this may only be valid in outlying areas when one is, as they say, “…busted flat in Baton Rouge, and waitin’ for a train.”

    Do you remember when a pack of Spearmint gum and a 6 ounce bottle of Doctor Pepper was only a nickel? And when a hair cut, with tip, was only .35 cents…and you had to go two months without one because you couldn’t afford the .35 cents. Sigh…those were the days…

    Bill

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