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Re: To foreclose or not to foreclose?

Posted by msoliman on July 27, 2008 at 08:40:14:

In Reply to: Re: To foreclose or not to foreclose? posted by SoCalGal on June 21, 2008 at 16:54:22:

I recently saw a message from you ...maybe a month old. Some of the message was out of context.

First I am not counsel but work for counsel in the capacity of examiner and compliance auditor. 25 years prior analyst to the Street and advisor to counsel for matters regarding sub prime markets capital markets, I traded over a billion and sub serviced,etc

What I see time and time again is not necessarily negotiated by my office but we engaged the respondents counsel and acted solely as auditor for substance and counsel arguing a settlement.As for your efforts I commend you and do not want to discount your pursuit. Our recommendation to counsel is never compromise to a short sale (why). It is or is not a violation of regulatory guidelines; therefore identify grounds for a rescission. File accordingly with a companion filing for an offer in compromise. Counsel decides if they are open to settle. But you do need to substatntiate a number.... we calculate at a loan amount determined from the real full documented earnings. Sorry for confusion , we see consistent over advances of 50% and more by lenders successors and assignees that must be brought in line with 4506 verified earnings for likelihood to settle.

M Soliman

The following information and content is for exclusive review and solely the benefit of the reader and is never intended to be offered as a legal opinion for matters requiring counsel or where it is deemed legal advisement requires the services of an experienced attorney.

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