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Rich Rydstrom Attorney AVVO 10of10, Business & Deal Structures, Buy Sell, Ventures, Licenses, Industry & New Industry
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Who were my mentors (by necessity) ?
Herald Price Fahringer
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William B. Lawless

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Over 33 Years Experience, Attorney Rated 10 of 10, “Superb”

Richard, as Chairman of CMIS, published by the 110th Congress, led the national debate to achieve solutions
to the Great Recession & Zombie 2nd Mortgages, with Billionaire Wilbur Ross, AFN & the United States Treasury.


Zombie Debt - Time Barred Defense

2023 Zombie Mortgage Protections
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by Attorney Rich Rydstrom

33 Years, Rated 10/10 Superb



Illegal Zombie 2nd Liens,

Debts and Mortgages

By 33 Year Veteran Attorney Rich Rydstrom, Esq.
Former Chairman of CMIS, 1-877-WIN-4-You™ |
HAMP 2MP, West v. JP Morgan Chase, BP 17,200, 17082, Reg F, CCP 337

As Chairman of the Coalition for Mortgage Industry Solutions (“CMIS”; ), I led the debate for solutions to the Great Recession, including foreclosure and servicer standards and the forming of default solutions. In 2008 they said I was wrong. But in 2013, I won the landmark West v. JP Morgan case affirming that California Borrowers could sue the banks (lender/servicers/foreclosure trustees) in California states courts, for violations of federal rules, regulations, guidelines, standards, and public policy, including violations of HAMP, HAFA and 2MP. This is long settled now.

But shockingly, now in 2023, we face a barrage of debt collectors, threatening foreclosure of our homes for second or junior liens that were long ‘charged off’ or ‘extinguished’, without proper communications, required legal notices, bank statements, credit reporting, and legal process. It is illegal to threaten to foreclosure on a lien, if the ability to collect legally has expired. In part, this is the case in California when we apply Federal Reg F and the California statutes of limitations.
Reg F; and Time-Barred Debt:

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion to affirm that the Fair Debt Collection Practices Act (FDCPA) and its implementing Regulation F prohibit a debt collector from suing or threatening to sue to collect a time-barred debt. Accordingly, an FDCPA debt collector who brings or threatens to bring a State court foreclosure action to collect a time-barred mortgage debt may violate the FDCPA and Regulation F.  (CONSUMER FINANCIAL PROTECTION BUREAU 12 CFR Part 1006 Fair Debt Collection Practices Act (Regulation F); Time-Barred Debt.)

In California, and in California Superior Court, we can use The Rosenthal Act incorporating the FDCPA, and other state causes of action, such as Unfair Trade Practices (“UCL”), Breach of Contract, Fraud and Misrepresentation, both negligent and intentional, among others, to find liability and hold the debt collectors liable for acting outside of the law.
In California, enforcement of a debt must be lawful, otherwise it is unlawful to threaten foreclosure or file a lawsuit to enforce same. The California Civil Code of Procedure, section 337, holds that a debt is time-barred from enforcement over 4 years from the date of the breach of contract, which is typically the date of non-payment, or date of the ‘charge-off’ or ‘extinguishment’ – whether by purchase/sale, insurance claims or assignment.

The Federal government supplies regulations, standards, and guidelines which the breach of same may satisfy the elements of California causes of action as mentioned above. For example, HAMP/2MP states that if a lender/servicer charges off the debt/lien it is an extinguishment. It also says that an extinguishment prohibits the creditor from collecting on that debt/lien, even if the defendants cleverly disguise the party transactions by inserting a non-SPA-signatory. Litigation to come. Stay tuned.

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Video Zombie Mortgages & Defense


Resources Library California Law on Zombie Debt and Mortgages

PART 2. OF CIVIL ACTIONS [307 - 1062.20]  ( Part 2 enacted 1872. ) 
TITLE 2. OF THE TIME OF COMMENCING CIVIL ACTIONS [312 - 366.3]  ( Title 2 enacted 1872. ) 

CHAPTER 3. The Time of Commencing Actions Other Than for the Recovery of Real Property [335 - 349.4]  ( Chapter 3 enacted 1872. )
Within four years:

(a) An action upon any contract, obligation or liability founded upon an instrument in writing, except as provided in Section 336a; provided, that the time within which any action for a money judgment for the balance due upon an obligation for the payment of which a deed of trust or mortgage with power of sale upon real property or any interest therein was given as security, following the exercise of the power of sale in such deed of trust or mortgage, may be brought shall not extend beyond three months after the time of sale under such deed of trust or mortgage.

(b) An action to recover (1) upon a book account whether consisting of one or more entries; (2) upon an account stated based upon an account in writing, but the acknowledgment of the account stated need not be in writing; (3) a balance due upon a mutual, open and current account, the items of which are in writing; provided, however, that if an account stated is based upon an account of one item, the time shall begin to run from the date of the item, and if an account stated is based upon an account of more than one item, the time shall begin to run from the date of the last item.

(c) An action based upon the rescission of a contract in writing. The time begins to run from the date upon which the facts that entitle the aggrieved party to rescind occurred. Where the ground for rescission is fraud or mistake, the time shall not begin to run until the discovery by the aggrieved party of the facts constituting the fraud or mistake. Where the ground for rescission is misrepresentation under Section 359 of the Insurance Code, the time shall not begin to run until the representation becomes false.

(d) When the period in which an action must be commenced under this section has run, a person shall not bring suit or initiate an arbitration or other legal proceeding to collect the debt. The period in which an action may be commenced under this section shall only be extended pursuant to Section 360.

(Amended by Stats. 2018, Ch. 247, Sec. 2. (AB 1526) Effective January 1, 2019.)

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