If the mortgage was backdated then the lender is booking unearned interest. Unearned interest is booked as a future receivable or future income. If your title was taken and paid for from future insterst and mortage was paid to zero then you the household must abandon all claims in order for the foreclosure to succeed.
Foreclosure defenses that cite ROBO signors, notary fraud and other collective issues attributed to fraud are obviously missing the mark . Consumers have missed a substantive argument by failing to identify the excess book by lenders from back dating.
Now a question arises as to prepaid balances, reimbursement is not servicing and who is really funding the new buyers home . According to our audits results the next buyer borrower and his buyer will owe on mortgages paid for by the consumer.
This is where the accountants must pay extra attention to the 1099 A issued post foreclosure.