“Judge George N. Bowden of the Superior Court in Washington State ruled against Bank of America (BoA) in a foreclosure battle that ended with the “nonjudicial foreclosure sale under the Deed of Trust Act (DTA) [deemed] void” and the court setting the foreclosure aside.

In this case defended by StafneTrumbull law firm in Washington State, the homeowner won his house from BoA which is another big win against the company who has been caught doing these type of practices against millions of Americans.”

Here is the link to the full story as well as a video interview with the attorney who won the case.

http://brightsideglobal.com/?p=3660

Of all the preposterous assumptions of humanity over humanity, nothing exceeds most of the criticisms made on the habits of the poor by the well-housed, well-warmed, and well-fed.

-Herman Melville, novelist and poet (1819-1891)

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Mike

Many things went into the unfortunate economic fiasco of 2008 that is plaguing our economy still to this day. One that has not been discussed is the currency by which many of the mortgage securities were backed. When the notes started to became due, the banks found that the value of the currency had doubled as compared to the dollar, costing them twice as much to redeem. This is one of the first of many things and a key one responsible for the economic implosion/collapse. Many homeowners were left in the wake to deal with payments that they had originally been able to handle, only to have them balloon up to unaffordable payments. They had been promised that they could refinance out of them, only to find that they could not.

Shakespeare once wrote “the quality of mercy is not strained; it droppeth as the gentle rain from heaven to the place below…and earthly power doth then show likest God’s when mercy seasons justice.” Jesus said one of the two great commandments is this: “you shall love your neighbor as yourself.” And when asked, “who is my neighbor” He related the story of the good Samaritan. Jesus asked, “Who do you think was his neighbor?” The answer, “he who showed mercy”. Jesus said “go and do likewise.” This is what I strive to do. The Bartons are my neighbor; I do not understand the need to toss them out until their case plays out in court. In the meantime, I shall show mercy and compassion. I think it is what many of us would wish if we were in their situation.

People may have different opinions regarding what caused this situation, but we can all agree that this is a very unfortunate situation. The important thing now is not to give false hope or advocate fixes outside of the law. The sooner the Bartons start looking at actual possible outcomes, the sooner they can move forward with their lives.

Since this is a long discussion, it’s time for a few reminders.
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Most importantly – if you really care about this, be at the meeting on Monday. 6 pm, Greenbridge YMCA, 9720 8th Avenue SW. Lightly attended meetings – and while it was a small room and a few people were standing, I would still characterize ~20 people last night as a lightly attended meeting – tell the city nobody cares either way. You don’t have to say a single word. Just show up. (You can leave written comments in person, even.)
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#2, WSB is a site for civil discussion. No namecalling. And that doesn’t just mean profane/obscene names – that means insults and other forms of rudeness. You can argue, discuss, disagree, as long as it’s civil. Those are the house rules. Lots of other places online that are free-for-alls. Not here. Never has been, never will be. Thanks! – Tracy

Actually, they have no basis for continuing possession of their house in connection with their court case – it is purely a matter of seeking economic damages (and regardless, despite the lack of legal merit, they could file for an injunction, which they have not done).

“[T]his really seems like a basic property owner’s right.”

Actually, retained possesion under the circumstance is not even in the realm of available remedies – so no, its not only not a right, its contrary to established law.

“Even if you ignore that the Bartons had an aging parent with Alzheimer’s to care for during the time period when they refinanced (not inexpensive at all), the Bartons did what many people did during that time and which made economic sense at that time.”

Oh, you mean borrowing money and not repaying it, and then trying to keep the money and the collateral. Nope – I don’t think so. Nice try play the Alzheimer’s card though.

“Remember, it was the banks that caused the economic crash of 2008 which caused the Bartons business to tank and the Bartons not to be able to keep up with their payments”

Oh, did you forget the irresponsible borrowers in the equation. Perhaps you are unaware that there would have been no economic crash but for the borrowers defaulting on their debts, and that those bad debts were largely a product of well intentioned politicians who wanted to open up the housing boom to all – even those who could not affort it unless the boom continued (which as we know, it did not). Please spare me the “its all the banks’ fault” line – it was the borrowers’ fault too.

“it was the banks that received a taxpayer bailout; and it was the banks that were supposed to offer loan workouts as a condition of that bailout[.]”

First accurate thing you’ve said.

“let’s make the banks do what they legally and fiscally are supposed to do for struggling homeowners, or hold the banks accountable.”

And lets make the borrowers like the Bartons do what they are leagally and fiscally required to do under their contracts.

Look – I’m no cheerleader for the banking industry. But come on, are you unable to see this for what it is – an ill conceived and misguided attempt at garnering sympathy with half truths. Honestly, you come across as thinking you are independent and progressive minded, when all it sounds like from the rhetoric is the “bahhhh bahhh” of sheep who listen to too much talk radio without critical analysis.