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.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s