The straw buyers were assured they would never need to pay off the mortgages, despite being named as the borrower, the charge states, and the loan applications were replete with false information. Gunnison charges that winefield personally solicited homeowners, determined sales prices for the sham sales, attended closings and at times acted.
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Home Equity Theft Reporter The May 3, 2012, decision in Gilbert v. Residential Funding LLC is the first by a federal appellate court to hold that a borrower need only send notice of rescission within the three-year period to validly exercise a right to rescind.
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