Foreclosures Continue At B of A and GMAC

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No Foreclosure Problems at Bank of America? Don’t You Believe It
After a 16-day review of its foreclosures, Bank of America (BAC) has pronounced itself satisfied: It found no problems at all with any of them, and it’s ready to resume processing foreclosures.

Corruption at its’ best.  Bank of America last week announced that it would resume forecloseures in 23 of the 50 states they halted them in.  Curious at best – devious in reality.

B of A claims that in just under three weeks that they went through mountains of files – some which must be over 6 inches thick – and concluded that there are no problems in any of them.  The number of cases purportedly were over 120,000.  Who are they kidding?  Even their best “robo-signers” could not have gone through that many files and pages in that amount of time let alone inspected each file for missing documents or forged signatures.

In addition, why have they resumed foreclosures in onlly the 23 judicial states where they have to go to court to get their  foreclosures?  Why not, if paperwork is or is not proper, continue foreclosures in the 27 states where no court appearances or court rulings are required to foreclose?

My answer to this is simple.  They are testing the waters of our legal and judicial systme.  They are also testing the waters of our Federal and State governments.  They want to see how judges in the various states will rule now that the evidence has come to the forefront about improper documentation.  If  some judges rule in favor of the bank regardless of having proper files, documentation and following the states statutes and Rules of Civil Procedure, the banks can establish precedence using those cases to thwart the attempts to defend by other homeowners.

I also believe that the banks are fearful of an onslaught of law suites in the non judicial states by homeowners now realizing that they too can defend and fight their foreclosures.  Most homeowners in these non judicial states and some lawyers believe that there exists no course of legal action to fight a foreclosure.  They believe that all the bank needs to do is to post a notice of sale on their door and then sell their property at auction.

Of course, this is untrue.  For those of you who may still believe this, you too have the same rights and the same defenses as those who live in the judicial states.  The major difference is that in the judicial states it is the bank who files the lawsuit that you simpley defend.  In a non judicial state – it is you, the homeowner – who must file the action in your local court and pay th efiling frees to do so.  I think the banks now believe that many kow this.

So how bold is this action by two of the largest banks in the mortgage business?  Pretty bold, I would say.  To know that you are wrong and violating not only the laws but individuals legal rights as well is just plain unconscionable.  To be exposed as a fraud and a criminal knowing that your are Too Big To Fail and will not be allowed to, is even more criminal then the fraudulent actions taken by all the banks that created this crisis to begin with.

Keep in mind also that GMAC is still owned by US as in the U.S. Government – us vial our tax dollars used to bail them out.  In other words, our government allowed this fraud – creating the worst financial crisis in this country and the world ever – then used our money to enrich them some more (it was not a bailout it was a cover up) and now our government – in an attempt, I believe, to cover up the new found fraud – is siding with the banks thereby allowing them to continue their crime spree.

Wake up America!  Why are we standing for B of A and GMAC to continue these illegal actions.  In fact, why are we standing for any of the banks to continue to foreclose in any of the 50 states unless they can prove ownership of the mortage note via bonafide Assignments or sales recorded not with MERS but in the courthouses of each and every county.  Further we should insist that the banks prove all documentation of the mortgage and note are real, accurate and complete and that all the requirements of all the states statutes and Rules of Civil Procedure are followed.

Then, if the bank has the proper standing to take the action, can prove ownership of the mortgage note, provide an Affidavit as to actual amounts owes by a person who really has gone through the account and is personally familiar with the facts and details, they should be granted the foreclosure.  IF THEY CANNOT PROVE LEGAL STANDING TO TAKE THE ACITON, CAN NOT PROVIDE ALL THE REQUIRED DOCUMENTATION REQUIRED IN THE MORTGAGE FILE AND DO NOT ADHERE TO THE LAWS THEN THEY SHOULD BE DENIED THEIR RIGHTS TO FORECLOSURE…PERIOD.

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  • L.FitzGerald  On November 1, 2010 at 7:40 PM

    It feels like America was invaded by an invisble forces , that have destroyed our financial system . While at the same time our Armed forces is being broken ,depleted , our best men & woman are dying , losing limbs ,for a corrupt Afgan bozo…and his Drug Cartel brother. Our enemy is not a poor shoeless Taliban with a Rusty AK-47 … No our worst enemy lives… in Wall Street N.Y. U.S.A., and Washington D.C. the the U.S.Congress….
    God gives us strenght to keep fighting on…

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