Foreclosure litigants need to return to First Principles in the Coming year 2021. What better way than to see Neil's latest Blog post explaining how even admitting you have a mortgage loan when it is securitized, particularly from the mortgage meltdown years from roughly 15 years ago to several years ago, is self-defeating, in that the truth is that there is no identifiable lender, borrower, payor, or payee, in the true and meaningful manner those terms are properly used. As Neil explains, the money which arrives at the closing table of these securitized mortgage loans, is not even a loan, in that 1., no loan is sold, 2., nobody records a purchase of a loan obligation, and 3., nobody maintains any account receivable.
Bill Paatalo will delve into how this works in the real world/legal world by going over an article exposing how in MERS related loans, a 'borrower' who thinks he has discharged a 'debt' by 'paying it off' may in fact have done no such thing. Join the Show to get the breakdown on this analysis.
Finally, we will touch on in today's Show the latest developments with the foreclosure moratorium and the contiuing Covid-19 crisis.