Irs | FORECLOSURE FRAUD | by DinSFLA

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Joe Nocera: The Mortgage Fraud Fraud

Joe Nocera: The Mortgage Fraud Fraud


This isn’t about a banker going to jail, this is about a homeowner going to jail.


NYT-

I got an e-mail the other day from Richard Engle telling me that his son Charlie would be getting out of prison this month. I was happy to hear it.

Charlie’s ordeal isn’t over yet, of course. When he leaves prison on June 20, Charlie, 49, will move temporarily to a halfway house, after which he will be on probation for another five years. And unless he can get the verdict overturned, he will have to spend the rest of his life with a felony on his record.

Perhaps you remember Charlie Engle. I wrote about him not long after he entered a minimum-security facility in Beaver, W.Va., 16 months ago. He’s the poor guy who went to jail for lying on a liar loan during the housing bubble.

[NEW YORK TIMES]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in STOP FORECLOSURE FRAUDComments (1)

WA SB 6337: An act relating to protecting short sale sellers from payment of forgiven home loan debt if such debt forgiveness is reported to the IRS

WA SB 6337: An act relating to protecting short sale sellers from payment of forgiven home loan debt if such debt forgiveness is reported to the IRS


Title: An act relating to protecting short sale sellers from payment of forgiven home loan debt if
such debt forgiveness is reported to the internal revenue service.

Brief Description: Protecting short sale sellers from payment of forgiven home loan debt if
such debt forgiveness is reported to the internal revenue service.

Sponsors: Senators Frockt, Fain, Haugen and Litzow.

Brief History:

Committee Activity: Financial Institutions, Housing & Insurance: 1/24/12.

 

[ipaper docId=79647844 access_key=key-5a06esia441diz3qqip height=600 width=600 /]

 

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Michigan Appeals Court “Pays To Check a Map, IRS Lien Has Priority over MERS Lien” | Mortg. Elec. Registration Sys., Inc. v. Church

Michigan Appeals Court “Pays To Check a Map, IRS Lien Has Priority over MERS Lien” | Mortg. Elec. Registration Sys., Inc. v. Church


ON APPEAL FROM THE UNITED
STATES DISTRICT COURT FOR THE
WESTERN DISTRICT OF MICHIGAN

MORTGAGE ELECTRONIC
REGISTRATION SYSTEMS, INC
., as
nominee for InterBay Funding, LLC,
Plaintiff-Appellant,

v.

TAMMY CHURCH; CHARLES O.
DAVIS
,
Defendants,

EXCERPTS:

SUTTON, Circuit Judge. It sometimes pays to check a map. The mortgage lender in this case did not, and as a result it recorded an interest in Tammy Church’s property in the wrong county. Luckily for the public fisc, the IRS, which also placed a lien on Church’s property, did not make the same mistake. When the lender realized what had happened, it sued, seeking in equity what it could not get in law—a declaration that it had the superior claim to the property. Equity does not save the lender in this instance, and we therefore affirm.

[…]

Everyone makes mistakes, to be sure. But it is difficult to find a basis in Michigan law for overlooking this one. MERS is not just a sophisticated party; its sophistication relates to this precise area of business and law—lending money and securing the loans with an interest in the borrowers’ property. See Deutsche Bank Trust Co. Ams. v. Spot Realty, Inc., 714 N.W.2d 409, 414 (Mich. Ct. App. 2005) (“[T]he doctrine of equitable subrogation was never intended for the protection of  sophisticated financial institutions that can cho[o]se the terms of their credit agreements.”). Nor was
it a state secret that Church’s property was in Antrim County. MERS attached to its own pleadings a settlement statement completed the day the mortgage was executed (reflecting the MERS loan and Church’s payment of her debts) and a sheriff’s deed foreclosing Church’s property, both dated before MERS recorded its interest in the wrong county and both identifying Church’s property as part of Antrim County. “A court’s equitable power is not an unrestricted license for the court” to do what it wishes with the fact patterns that come before it. Devillers v. Auto Club Ins. Ass’n, 702 N.W.2d 539, 556 (Mich. 2005). There must be a legitimate explanation for invoking that power. There is
none here.

Continue below…

[ipaper docId=56122416 access_key=key-p57624wd4uzg1j12273 height=600 width=600 /]

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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REUTERS Exclusive: IRS weighs tax penalties on mortgage securities (REMICS)

REUTERS Exclusive: IRS weighs tax penalties on mortgage securities (REMICS)


We saw this coming for a bit now…

(Reuters) – The Internal Revenue Service has launched a review of the tax-exempt status of a widely-held form of mortgage-backed securities called REMICs.

The IRS confirmed to Reuters that the review comes in response to mounting evidence that banks violated tax requirements by mishandling the transfer of mortgages to REMICs, short for Real Estate Mortgage Conduits.

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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Foreclosed? The tax man may want his cut

Foreclosed? The tax man may want his cut


Via CNN MONEY

NEW YORK (CNNMoney) — Did you lose your house to foreclosure this year? Did your lender forgive some of your mortgage debt because the house sold for less than it the mortgage balance?

If so, you could be facing a big tax hit.

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



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NY Times Joe Nocera Hits This One Out the Ball Park. A Must Read

NY Times Joe Nocera Hits This One Out the Ball Park. A Must Read


Joe’s article is a must read. It will leave you both furious and relieved that this story was told. Name says it all.


No Mortgage Lenders in Jail, but a Borrower Lands There.

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in STOP FORECLOSURE FRAUDComments (1)

“Fred Rerun Berry” actor from 1970’s sitcom”What’s Happening”

“Fred Rerun Berry” actor from 1970’s sitcom”What’s Happening”


Mrs. Berry contacted me through my youtube channel.

For those who may not recall “What’s Happening”…  Back then this was one of the hottest shows along with “Good Times”, “Different Strokes” etc. This was a show that was part of my childhood and enjoyed very much.

Because of “Rerun” we have a dance that was named after him for his unique moves.

There will always only be one Rerun.

EssieRerunBerry1

EVIDENCE OF A 20 MILLION DOLLAR BB&T BANK COVER UP.52-2197854 & 52-2052386

“Fred Rerun Berry” actor from 1970’s sitcom(“What’s Happening”)”Family is asking for a Federal Investigation on a 20 million dollar cover up from Mr. Fred and Essie Berry Tax Identification number.(52-2197854)

Whistle Blower!!! Over the past six years regarding the late Fred Rerun Berry who was an actor from the 1970’s “What’s Happening” Sitcom. Berry died October 21, 2003.

It has been determined that there has been an unauthorized use of Mr. and Mrs. Fred Berry’s personal identification number utilizing this number to establish bank accounts in the form of loans, government grants, saving accounts and lines of credit. Thousands of dollars have been utilized in property developments, purchasing of land and community development projects in the Suitland Maryland, Largo Maryland and New Carrolton areas. Many attempts to gather documents from a Bank and a Corporation in Maryland have been met with roadblocks.

In 2001 Fred Rerun Berry appeared on” The Weakest Link and that is were it all began. Mrs. Berry started receiving paper work from the Internal Revenue, Documents and contracts in c/o Essie Berry for this corporation and Tax Idenification Number. Mrs. Berry requested bank accounts records . The bank teller wanted Mrs. Berry to provided information to confirm her identity. Information was faxed in 2004 to a bank in Maryland still no records.

In 2005, Mrs. Berry meets with the Vice-President of the bank. Mrs. Berry asked for all accounts in reference to Fred Rerun Berry Tax Identification 52-2197854 records were mail but they were incomplete.

Mrs. Berry and Portia Allen, Fred’s daughter in 2007 over heard a phone conversation with a bank employee while holding during a phone conversation say, “That poor, poor lady they drained her husbands’ account.

With all of the compelling evidence, bank records, documents and paper trail and errors that the banks have made in utilizing Mr. and Mrs. Fred Berry Tax Identification number. The Berry family is seeking a full Federal Investigation to this matter. All facts can be proven.

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in conspiracy, CONTROL FRAUD, corruption, forgery, insider, investigation, mortgageComments (1)

Homebuyer tax credit: 950,000 must repay

Homebuyer tax credit: 950,000 must repay


LMFAO!! Yet Another Bomb! Thank you for the rise in Real Estate sales…How do you say “bait and switch”! Were these disclosure properly made?

Can’t wait to see the outcome of these sub-prime mortgages when most of the 950K were counting on this!


Les Christie, staff writer, On Thursday September 9, 2010, 2:40 pm EDT

Nearly half of all Americans who claimed the first-time homebuyer tax credit on their 2009 tax returns will have to repay the government.

According to a report from the Inspector General for Tax Administration, released to the public Thursday, about 950,000 of the nearly 1.8 million Americans who claimed the tax credit on their 2009 tax returns will have to return the money.

The confusion comes because homebuyers were eligible for two different credits, depending on when their homes were purchased.

Those who bought properties during 2008 were to deduct, dollar for dollar, up to 10% of the home’s purchase price or $7,500, whichever was less. The catch: The money was a no-interest loan that had to be repaid within 15 years.

Had they waited to buy until 2009, they could have gotten a much sweeter deal. Congress extended the credit and made it a refund rather than a loan.

Continue Reading…YAHOO

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in Bank Owned, breach of contract, conflict of interest, FHA, foreclosure, foreclosures, mortgage, note, Real EstateComments (0)


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