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Junior Trust Deed Buys First Trust Deed Issue
I am uncertain what cause of actions, if any, you have against this hard
money lender for forging the letter to the 1st to obtain information. Maybe
some kind of right to privacy.
The lender bought a note which accrues interest at 4% per annum and they
misrepresented to you and the Court that the interest rate is 16.99%. You
should consider reporting the lender to the U.S. Trustee for violation of
POC: A person who files a fraudulent claim could be fined up to $500,000,
imprisoned for up to 5 years, or both. 18 U.S.C. 152, 157, and 3571.
Second, I would object to their POC. If the original mortgage had an
attorney fees clause, then you can also seek attorney fees for objecting
and winning the POC issue.
Sincerely,
*Michael Avanesian, Esq. *
Avanesian Law Firm
801 N. Brand Blvd., Suite #1130
Glendale, CA 91203
Tel: 818.276.2477 | Fax: 818.208.4550
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On Tue, Dec 29, 2015 at 7:40 AM, tysonlawfirm@yahoo.com [cdcbaa] wrote:
>
>
> Hi everyone,
>
>
> Debtor has 1st trust deed of $230,000 at 4% interest. 2nd trust deed is a
> "hard money" loan of $60k. Debtor gets behind on 1st Trust deed and applies
> for a loan modification. 2nd trust deed gets nervous and buys out 1st
> trust deed. There are two issues:
>
> 1) 2nd trust deed has filed a proof of claim for $290k at 16.99% interest
> (the interest percentage of it's loan of $60k) and
>
>
> 2) 2nd trust deed forged debtor's signature to get information from the
> 1st trust deed in order to purchase the loan. We know this because the
> title insurance company sent a copy of a letter from the 2nd trust deed
> apologizing for forging the debtor's signature on the inquiry (payoff)
> letter.
>
>
> Does anyone know if the : "new" loan has to be bifurcated; i.e., $230k at
> 45 and $60k at 16.99% and what can be done (if anything) regarding the 2nd
> TD forging the debtor's signature to get information to buy the 1st TD out?
>
> Thanks for any help!!!
>
>
>
I am uncertain what cause of actions, if any, you have against this hard money lender for forging the letter to the 1st to obtain information. Maybe some kind of right to privacy.The lender bought a note which accrues interest at 4% per annum and they misrepresented to you and the Court that the interest rate is 16.99%. You should consider reporting the lender to the U.S. Trustee for violation of POC:risoned for up to 5 years, or both. 18 U.S.C. 152, 157, and 3571.Second, I would object to their POC. If the original mortgage had an attorney fees clause, then you can also seek attorney fees for objecting and winning the POC issue.Sincerely,Michael Avanesian, Esq.Avanesian Law Firm801 N. Brand Blvd., Suite #1130Glendale, CA 91203Tel: 818.276.2477 | Fax:818.208.4550
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