When you consider that the law of “securitized mortgage loan defense” (not simply “foreclosure defense”), is only a little over four years old, rising from the ashes of the housing market collapse of 2008, you realize that this area of the law has developed recently and extremely rapidly, and wit
In the world of securitized mortgage loan defense, I’ve found from past experience that I will never be able to say that I’ve seen it all. That is because something new and surprising always seems to be lurking around every corner.
We see with some regularity banks sending statements to our clients claiming that they owe more on their mortgage than they in fact do. When this happens, it is most likely due to the bank’s failure to credit homeowners with the payments they’ve made.
Recently, we were approached by George, who has struggled with his mortgage since 2004. George fell behind at that time because his wife had medical problems, with corresponding exorbitant medical expenses.
Several years ago, Ohio, along with about ten other states, was awarded federal funds for the purpose of providing homeowners mortgage relief under a program known as Hardest Hit. Ohio’s share of funds amounted to just under $600 million.
Four years ago, when the housing market bubble burst, and I became involved in securitized mortgage loan defense (not simply foreclosure defense), I learned our judicial system was like a sleeping giant – it was going to take courts time to wake up and understand the brand-new world of loan secur