CREDITWRENCH
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Thursday, December 22, 2005
A good day in court
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Richard from Indiana had a nice day in court yesterday. While he didn't resolve all his problems he most assuredly took a big step forward yesterday.

Seems that his home had been financed by a company named Amerisco who went out of business back in 2000 but had tried to foreclose on his home. They simply weren't having much luck at getting the job done until recently when they finally got around to putting his home up for a sheriff's sale. When he contacted me he related the story and was pretty desperate for something to keep them from selling his home.

After a careful study of the case and some legwork on his part we came up with a statement from the Secretary of State that proved that Amerisco has been defunct and out of business since 2ooo and so he filed a Lis Pendense to stop the sale last week and went into court yesterday. A lawyer showed up in court and claimed that the note was owed by another company who was selling the property but the problem is that they too are out of business and barred from doing business by the Attorney General of the
State of Indiana.

When that became known to the court the judge ordered them to bring the original note and mortgate and proof of who now owns the note back to court within the next 30 days. He also ordered the attorney to pull the house from the sheriff's sales until such a time as they could comply with the court's demand for production of the documents.

Richard is in the process of filing complaints with the Indiana State Attorney General's office and he will also be filing motion for void judgment because Amerisco could not possibly be the party of first interest in the foreclosure among other things. The judgment is obviously null and void upon it's face because when the judgment and foreclosure was adjudicated Amerisco had already been out of business for a couple of years at least. Fictitious plaintiff because a "dead" corporation can't file a lawsuit any more than a dead human being can.

So by the time they get back to court with the note and other demanded documentation they still won't be able to sell the house because there will be no valid judgment or foreclosure action against the property.

It's still a long way between the plate and the mouth for Richard but I'll bet he ends up with his home free and clear and a nice fat sum of cash in his wallet on top of that by the time he gets through with them.

He never would have been able to figure out how to do all of that by himself.

As I said, he's got a lot of fighting to do yet but at least he can see the light at the end of the tunnel after his success in court yesterday. And to make matters even worse, the judge was leaning over backwards trying to give the attorney every opportunity in the world to beat Richard but no matter how much he strained and moaned and groaned he just couldn't deny that Richard had something to complain about so he had to order the sale pulled from the sheriff's roster of homes to be sold.

Richard was on our Friday night conference call last week and he will be back on again this Friday night. Listen in and hear his story.
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