Foreclosure is Preferred Choice for Banks to Quiet Title

In the Page entitled “Foreclosure Profits Deter Loan Mod” last week I suggested three possible motivators for banks to foreclose in preference to short sale or loan modification.  Then I went to a seminar by attorney Michael T. Pines and another light bulb lit up brightly.  Given the muddled situation with respect to rights and interests in loans that have undergone the securitization process, foreclosure is the quickest way to clean up the mess and consolidate profits with clear title to the asset underlying the mountain of paperwork.  After all, the home is the only thing of real value in all this.  In addition, the trail back to ill begotten profits that were pocketed during the course of previous loan cycling is erased and there’s a clear slate for renewed pillaging of the home when it gets back into the marketplace.

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6 Responses to “Foreclosure is Preferred Choice for Banks to Quiet Title”

  1. brian davies Says:



    Please help with your network and all the information.

    I have fought hard and need the web connections and any help possible.

    This is a non judicial state and I have a lis pendens and in the middle of discovery.

    Thanks for anything or help you may be able to give. All court documents are on scribd.

    Brian Davies

    • Interactive Law Center Says:

      Brian –

      Your case is over litigated. It’s important to plan ahead, minimize the paperwork, and keep the court’s focus on primary issues precedent to all the details. I found you on LinkedIn (I think it’s you) and sent an invitation. I’ll also send you an invitation to my new Ning Network. Several of my articles are already on JD Supra, my web page and my blog (ie where we are right now). Soon I will upload workbook/guides for bankruptcy and foreclosure defense to scribd, and some copyrighted material. I’d be happy to help in you llitigation but it would entail collecting a fee for services.

  2. Phred Maldanaldo Says:

    With all due respect, from the eyes of this pro se, I question your statement that the foreclosure provides a clean slate.

    If the foreclosure was done without evidence of the original note at the notice of default, the title is clouded and remains clouded, as evidenced in the statements of warranty placed on current Notices of Sale. Title companies have caught on to the ploy and are refusing to insure Chase loans, for example.

    A worse case example is a foreclosed party who requests their original note back (in Calif). If the note is not forthcoming, does that not constitute evidence of fraud and a cause of action to rescind the foreclosure sale for wrongful foreclosure?

    If so, please contact me as I have a party who may face such circumstances that I could refer to you for a finder’s fee for services.

    • Interactive Law Center Says:

      I have to agree with you. A few months ago, when I made this post, I was operating under a couple of deeply ingrained assumptions that have been displaced by current events. As a general rule, foreclosure does wipe out existing liens and therefore gives the foreclosing lender pretty clean title. But it doesn’t leave a lender totally unaccountable for its own wrongdoing – there is a cause of action for wrongful foreclosure that comes increasingly into play. My mistakes were that (1) title isn’t completely clear, and (2) there is a potential legal remedy against a foreclosing lender, although it may be impossible to get title back.

      I’d like to be involved in cases that test these legal frontiers but I’m precluded from paying referral fees by Rules of Professional Conduct governing attorneys.

  3. Jessica Says:

    Michael T. Pines is bankrupt, he can’t save HIS OWN 6 foreclosed properties. Attorney Michael T. Pines LOST HIS OWN HOME and LAWSUIT against EMC Mortgage (see decision below); and is about to lose his 6 other properties which he’s trying to protect in BK. Michael T. Pines not a foreclosure RELIEF expert, he’s a FORECLOSURE expert.

    Michael T. Pines filed Chapter 11 Bankruptcy on January 11, 2010, he miserably represented himself and it was converted to a Chapter 7 Bankruptcy. Just GOOGLE “MICHAEL T. PINES” to see his background. To date, Pines has NEVER won a case against a mortgage company. Pines sued EMC mortgage regarding his own foreclosure and LOST. The judgments can be found online under UTAH COURTS or these links:

    and here:

    MICHAEL T. PINES has TWO Restraining Orders against him in San Diego County. You can find his Restraining orders on the San Diego County Sheriff’s website. Just type in “PINES” under *Restrained Last Name*. This is the Sheriff’s website:

    Pines’ foreclosed properties are as follows:

    1. 5 South 500 West Unit #1216, Salt Lake City UT 84101
    2. Case # 09-81657 – 1273 22nd Street, Ogden, UT
    3. Case # 09-81658-1246 South Meadow Run, Saratoga Springs, UT
    4.Parcel #010610036- 2336 Madison Ave. – Utah
    5.732 N. Coast Highway 101, Encinitas, CA 92024 – Law office building!
    6. Case # 1171481-21 Murphy Drive, Bella Vista, Arkansas

    • Interactive Law Center Says:

      Jessica –

      Your “Who Is” ID didn’t come up. Would you mind sharing some information about yourself, such as what interest you have in foreclosure defense litigation?

      I was surprised to read about the recent developments with Michael T. Pines (apparently there’s a PI lawyer in San Diego also named Michael Pines – not to be confused). He was a very good presenter at the seminar I attended in February, and the case law and statutory authority he cited was most useful.

      As regards the litigation in Utah, it does sound like he’s on a downward slide from which he won’t recover.

      The restraining orders in San Diego County aren’t too remarkable. They arise from personal matters.

      His recommendations to clients to break in to properties taken by lawful eviction, which I see is something he voluntary publicizes, may be an effective means of drawing attention to the impropriety of bank foreclosures. This does seem like going out on a limb. It will be interesting to see if there has been a well thought out strategy or if this tactic is totally rebuked by the judiciary.

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