A stern, confident woman who can quote Florida civil-procedure statutes by reference number, and who adores cooking Southern food and listening to classic Grand Ole Opry-era country music, Ms. Campbell steadfastly believes she is right.
"Someone defending a foreclosure action can raise defenses that are baseless, but are obstacles for the foreclosing lender," he says, calling the system "an unfair burden" for lenders.
"It's almost like clockwork. You know you're going to get another three-inch stack of documents every month or so, and you have to take the time to read through it," Mr. Summers says. "That is a burden on the courts, a burden on lawyers to decipher it, and it has enough meat in it that it's not all void."
Section 18.104.22.168 - Reloaning: Once per annum, lendee shall automatically be issued a new loan for the amount outstanding of the current loan. The current loan shall be repaid with funds from the new loan and considered settled for all purposes; the new loan shall be serviced at terms identical to the initial loan with the exception of the new principal amount. As the new loan consists fully of principal, the amount of total interest (pursuant to the "interest cap" clause of federal law) shall be $0.
The legal rate, it is to be observed, though it ought to be somewhat above, ought not to be much above the lowest market rate. If the legal rate of interest in Great Britain, for example, was fixed so high as eight or ten per cent, the greater part of the money which was to be lent would be lent to prodigals and projectors [(scam artists)], who alone would be willing to give this high interest. Sober people, who will give for the use of money no more than a part of what they are likely to make by the use of it, would not venture into the competition. A great part of the capital of the country would thus be kept out of the hands which were most likely to make a profitable and advantageous use of it, and thrown into those which were most likely to waste and destroy it. Where the legal rate of interest, on the contrary, is fixed but a very little above the lowest market rate, sober people are universally preferred, as borrowers, to prodigals and projectors. The person who lends money gets nearly as much interest from the former as he dares to take from the latter, and his money is much safer in the hands of the one set of people than in those of the other. A great part of the capital of the country is thus thrown into the hands in which it is most likely to be employed with advantage.
Astro Zombie: The issue with being able to collect 4.8 in perpetuity is that, given enough time, somebody could end up paying 200 or 300 percent on their original debt.
unnecessary paper chase which has been an unproductive and unnecessary use of judicial resources.
strongly worded and colorful
presented dozens of reasons why Ms. Campbell thought the bank didn't have the right to her house: Paul Campbell's signature was forged on the original mortgage, she said, and the original sellers never received money from the bank. At other times, she said the mortgage was never properly conveyed between banks and federal agencies, and she demanded paperwork that they were unable to immediately produce.
Attorneys' fees and court costs from previous cases hadn't been paid, or the amounts were wrong, she argued. One brief said that "Defendant Campbell specifically denies the existence of any debt.What rules against defendants? Clue me in here.
I'm talking about the specialised dockets that were created in some states specifically to deal with foreclosures, as described in this article.
Here's the thing--we do not think of the concept of "efficient breach" as something that individuals are morally allowed to do--which is wrong, because corporations do it all the time.
This woman is not engaging in efficient breach. Efficient breach is necessarily efficient: it is a net benefit to all parties after all claims are settled. Her behavior is profoundly inefficient, and wasteful. She's just gaming the system.
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