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overtheedge
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Post-Foreclosure Hell: Garnished Wages, Seized Assets, Deficiency Judgments - Mish - Global Economic Analysis

I'm not a lawyer or a judge and I don't play one on TV, but ...

I look at the XIIIth Amendment to the US Constitution and I think I might see something behind the "Great Oz" curtain.
Deficiency judgements are civil.
If you sign a contract and then refuse to abide by the conditions of said contract, is that defined as fraud?
If not currently, might it become so overnight? Who makes the rules for the Judiciary? Who decides on the definitions?
It just might really matter about, "It depends on what the definition of is is."
Now look at that XIIIth again. Pay particular attention to Section 2.

Do as you will, but do your own due diligence.
Take a bow, Mish. Few are willing to write about the pandemic of this social disease.

Commented 3682 days ago

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Beginning of the headline :In 2009 and 2010 "Walking Away" was the rage. (skip the adds and scroll down to my list of articles). Back then, I frequently cautioned Before Walking Away Consult An Attorney, advice repeated in nearly every reference to the practice. Walking away without declaring bankruptcy, especially with a recourse mortgage was always a dangerous practice. Moreover, law is complicated because rules vary from state to state, and non-recourse loans often became recourse loans if refinanced. Post-Foreclo... Read More

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