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About vjake

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  1. The advantage would be an invalid debt. If a recorded "Corporate Assigment" is required to legally transfer the debt and it doesn't exist... then the debt was purchased and the jdb can't prove a valid debt to collect. They can't back up and get a "Corporate Assignment" because the "Deed of Trust" was released and the assignment is for the "Deed of Trust". Reverting to unsecured is not valid because the original agreement (between debtor and creditor) was for secured debt based on the "Deed of Trust". Anyway, this is what I have heard that someone, agency, law firm is working on... but I'm sti
  2. The "corporate assignment" is a recorded document that transfers the security of the lien... in this case in Cali the lien is security is the "Deed of Trust". Chase released the "Deed of Trust" to allow the short sale to go through leaving the remaining debt unsecuritized.
  3. calawyer... thanks for your help. I'll be ofline for a couple of days. When I get a minute I'll look up the code and documents and then comment. Thanks again.
  4. Ture that it is unsecured now ... but not an agreed upon contract... there is something to this angle but I believe just in Cali because we use a "Deed of Trust" . Contracts cannot just change there terms in mid-stream without unilateral agreement. The angle of the corporate assignment is being pursued... I just don't know who and where... hoping to catch wind of it through the forum. Thanks!
  5. Thanks for responding. There were two mortgages. The first released liability, the second did not. I am looking for a test on the lack of "corporate assignment" document. I have caught wind that this issue is circulating in Cali courts regarding these types of deficiencies because the original contract between me and the lender was for a secured loan via a mortgage. The remedy for non-payment would normally be foreclosure or judicial foreclosure. This is not the case. They released the lien thereby giving up the agreed upon method of satisfaction under the original contract.There is an issue o
  6. Hi, I am new to CI and new to blogs and very inexperienced with how to use them. Thank you for your patience. I a Cali resident and sold home in a "short sale" transaction which resulted in the creditor (JP Morgan/Chase) releasing the lien to allow the sale for less than the amount owed on the existing mortgage. The lien was a 2nd equity credit line for $250k. They lost it all in the sale but did not release me from the note. They sold the debt to a junk debt collector. My question: Cali law requires a recorded "corporate mortgage assignment" on the sale of a mortgage lien and notification to