Responding to homeowner complaints, Nevada has become the first state in the nation to make illegally repossessing a home a felony, and may send bankers to jail for doing such. The new law was enacted after tens of thousands of homeowners complained to lawmakers about their homes being foreclosed without proof of ownership.

The outcry of consumer complaints over illegal robo-signing tactics has produced a series of lawsuits against mortgage servicing companies and banks in Nevada, which has led the U.S. in foreclosures six straight years.

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The only thing surprising about this ruling is that it took so long to be made. This is black letter law, folks, the logical extension of the Court’s Ibanez decision.

Without a promissory note, a foreclosing plaintiff cannot show a legal injury, i.e., does not have standing to sue. Without standing, the action before the court does not qualify as a “case or controversy” under Article III of the constitution. Courts can only make rulings on “cases or controversies;” advisory opinions are a legal nullity. Consequently, a court that purports to enter a “judgment” where it has no subject matter jurisdiction has in fact entered a legal nullity on its docket; that “judgment” is void as a matter of law.

As such, any such “judgment” entered where the plaintiff had no standing is open to collateral attack in any subsequent proceeding. What is more, subject matter jurisdiction cannot be waived; were that the case, parties could falsely induce courts to make binding rulings–obviously non-sensical.

The procedural posture of this particular case is unusually serpentine, no doubt. In any event, there is nothing controversial–as a legal proposition–about this case. I’m sure the banks, who are now shitting their pants over the implications of this case, see it differently, but they’re just wrong.

Source – Amnova

On Oct. 18th, 2011 the Massachusetts Supreme Judicial Court handed down their decision in the FRANCIS J. BEVILACQUA, THIRD vs. PABLO RODRIGUEZ – and in a moment, essentially made foreclosure sales in the commonwealth over the last five years wholly void. However, some of the more polite headlines, undoubtedly in the interest of not causing wide spread panic simply put it “SJC puts foreclosure sales in doubt” or “Buyer Can’t Sue After Bad Foreclosure Sale.”

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The U.S. economy is dying and most American voters have no idea why it is happening.  Unfortunately, the mainstream media and most of our politicians are not telling the truth about the collapse of the economy.  This generation was handed the keys to the greatest economic machine that the world has ever seen, and we have completely wrecked it.  Decades of incredibly foolish decisions have left us drowning in an ocean of corruption, greed and bad debt.  Thousands of businesses and millions of jobs have left the country and poverty is exploding from coast to coast.  We are literally becoming a joke to the rest of the world.  It is absolutely imperative that we educate America about what is happening.  Until the American people truly understand the problems that we are facing, they will not be willing to implement the solutions that are necessary.

The following are the top 100 statistics about the collapse of the economy that every American voter should know….