Being paid many times over for the same debt obligation: The Circus Continues


Manage episode 272904729 series 2453550
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Great Gig if you can get it: Lehman Brothers in their bankruptcy (BK) here in 2020--yes 2020--is having to respond to a proof of claim (POC) which has been filed in the Lehman BK by Nationstar, along with a stipulation which effectively confirms the POC, to the effect that Nationstar is affirmed to have a right to collect from the debt originator Lehman on the same mortgage debt which in a typical scenario they would be restricted from collecting solely from the Individual Borrower--in other words the bulk of the listeners to the Neil Garfield Show. As Bill will discuss, the Obligation under the Note section of the POC at issue here states that: "The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all the amounts owed under this Note." Then on the Show today Charles Marshall will drill down into the latest Covid-19 impacts to civil legal procedure, foreclosure auctions, and unlawful detainer cases, including addressing foreclosure and eviction moratoriums.

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