The West Coast Foreclosure Show: Post-Jesinoski Rescission Strategy Revisited

The rescission is ALWAYS effective upon mailing and must be vacated or set aside by a court of competent jurisdiction upon the filing of timely claims by a party with legal standing.

You can compare rescission to foreclosure. When the sale is complete and the deed is issued,  the event has happened. It is no longer a claim. Even if the sale can be voided because of a void assignment or whatever, the sale still has happened.  The sale is in its history and it in the chain of title.  See Neil Garfield’s Recent Rescission post here.

The ONLY entity who can sue to vacate the rescission is a party with legal standing. Since the rescission IS effective if unopposed, the note and mortgage are void. “That means they can’t use the note and mortgage to establish standing,” claims Garfield, because, “THAT is jurisdictional!!”  If you rescind your loan, and argue your right to rescind, you will lose.  There is nothing to argue- it is done.  Not even the homeowner can undo a completed rescission if they wanted to.

Charles Marshall, Esq.

cmarshall@marshallestatelaw.com

Phone 619.807.2628

Investigator Bill Paatalo

Office: (406) 328-4075

bill.bpia@gmail.com

www.bpinvestigativeagency.com

Informational purposes only.