ReleaseWire Connect

With many homeowners facing foreclosure and looking for help across America, many worthless services have cropped up with such promises as "mortgage elimination" or other foreclosure tactics that in some cases are patently illegal. One commonly advertised service is a Securitization Audit.

When asked how the mechanism works, Bradford explained: "It's very simple; appraisal fraud, other tortious conduct, contract breaches, errors, setoffs, statutory/regulatory violations, etc., underlie over 90% of mortgage transactions. These abuses give homeowners leverage to beat the banks. When we examine mortgage transactions (contract) and find misconduct, our clients use our analysis to draft and send a contractually mandated 'grievance letter' to the Servicer, which mandates they take 'corrective action.' Since the damage has already been done, the only "corrective action" they can take is to settle with the homeowner."

When foreclosures started arriving in mass many attorneys chose an easy method of making money. This method is ignoring any real dispute and analysis of the mortgage transaction and instead filing copycat generic defenses that have no merit and may not even delay a foreclosure. Most of these copycat defenses involve "standing," "MERS," "securitization," "assignment," or other disputed arguments. This is the most profitable way for an attorney to defend a foreclosure. Pay 5 cents a page for a copy machine formulaic defense, which does nothing to help the borrower, while lining their pockets with thousands the borrower paid, basically to stall the foreclosure. Because this is the most profitable way for the attorney to defend a foreclosure, this is what the majority of blitz advertisements and attorneys you will find doing.