Wells Fargo is suing itself to clear title on a property in order to foreclose on it; as the first mortgage holder, it must sue all subsequent mortgage holders, including the second mortgage holder...Wells Fargo!
The condo owner's attorney, Dan McKillop, suggested that the reason had to do with paperwork. While a lender could avoid suing itself as a lienholder by just releasing the lien after the foreclosure, that apparently involves an extra step or steps, which end up making it easier and faster for the bank to sue itself. That may be -- I don't pretend to understand this area of law -- but generally it is against the rules to file a complaint that you know cannot succeed (for example, because you can't recover against yourself), even if it may come in handy for some reason. Maybe this is in fact a clever strategy, or maybe, as a professor quoted by FOX Business suggested, "[t]his is just folks cranking out paperwork without conscious thought."
Financial Crisis Comes Full Circle As Bank Sues Itself
BB pal Mitch Altman informs us that he’s ceased manufacturing on his marvelous invention the TV-B-Gone, a keychain remote control that turns off any television with a push of the button. It’s great fun in sports bars, airports, restaurants, and wherever else there’s an idiot box that annoys you! Grab one now because when they’re […]
This preview of next season’s engines reveals categorical differences with the current specifications. (Reddit, amazingly, found the original.)
Why did the Star Wars movies come out in the sequence 4, 5, 6, 1, 2, 3? Because in charge of sequence, Yoda was. (via r/jokes)
Store more on your Mac without making a scene thanks to this microSD memory card adapter. Compatible with MicroSD, MicroSDHC, and MicroSDXC, HyperDrive sits unnoticeably inside your machine without any protruding parts getting your way. Store everything from documents, movies, music, and photos, to Time Machine backups without spending major cash on cloud storage.Instantly expands […]
Carrying this EDC card is like slinging around a handheld toolbox wherever you go. Its minimal design is small enough to fit in your wallet’s billfold, and it’s TSA-compliant so you’ll never leave it behind. It’s got hex wrenches, metric and imperial rulers, flathead and Phillip’s screwdrivers, and a bottle opener so that you’re ready […]
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