I’m back

So I’ve been on jury duty the last three weeks (ugh!), but at last it’s over, and I’m back to my old ways pretty soon…Lots is going on in the world, between the  gutless lawmakers in Wisconsin (the ones who are hiding in Illinois), Mubarak’s deposition, Qadafi’s defiance, Iranian ships in through the Suez Canal and so on.

The case I was on was about a real estate deal gone wrong.  At the height of the real estate bubble, people were buying houses and property, fixing them and turning them over for profit.  It seems like people doing all this were playing fast and furious with titles, deeds, finance companies, and other shady people.  So this one guy buys a home worth over $2 million for no money down and obtains a loan for that amount.  His business partner takes the paperwork, the deed and title, forges them, removes the leinholder completely, and goes and borrows money against it again, now the total borrowed is $4 million.  Then it turns out that the original owner had split off a small worthless portion of the property and taken out $2 million  in loans on that one.  So the buyer pays a couple of payments then stops.  The company that holds the lien, so to speak, tries to foreclose, but cannot, because officially it holds no rights to the property.  So now, the lender sues the title company, the original borrower, the one who claims title to the property, the real estate agent who set up the whole second half of this deal, and finally one of the money bags.  So after hearing two weeks of testimony, we had to go into a little room and make 15 decisions.  We did, though I didn’t agree with all the decisions that came out of it.  Fortunately, we found out that the con artist, who could sell ice to an Eskimo, is safely behind bars, but there are a lot of people who lost in this deal.  Rest assured that the lawyers won…


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