We go back to court with PennyMac Loan Services and Northwest Trustee Services!
In 2012 our Rescission was erroneously ruled "time barred" in our local state court. Interestingly, the two causes for ruling it invalid are exactly the two facts that were recently clarified in the United States Supreme Court showing the ruling was erroneous:
1. That a borrower does NOT have to file a lawsuit to enforce the rescission within the 3 year statute of repose to "validate" the rescission. Rather, it is VALIDATED when the borrower sends a letter to the lender stating they wish to rescind.
2. That a borrower does not need to tender back the proceeds of the loan to validate the rescission. Rather, the note becomes VOID UPON SENDING OF THE LETTER. The tender amount becomes unsecured debt, to be paid back AFTER the lender completes the re-conveyance of the title back to the borrower-IF they do!
Our case is a carbon copy of Jesinoski, and here is our Motion for Relief that was just filed. It's a very straightforward and obvious correlation to the recent United States Supreme Court Ruling on Rescission. You can read about that here: CLICK HERE!
Download Baker Motion for Relief signed
We urge you to share this far and wide with others who may have rescinded and were shot down in local courts. The Supreme Court has spoken, and it is about time. Rescission was intended to be a powerful and painful consequence for lenders who tried to rip off borrowers, and IMPORTANTLY navigated the presumption that the shenanigans of the lender likely left borrowers without the resources needed to get justice.
Thank You United States Supreme Court, and HAPPY VALENTINE'S DAY PENNYMAC LOAN SERVICES AND NORTHWEST TRUSTEE SERVICES!
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