Tag Archives: foreclosure

Let The Fraud Continue

Banks Continue ‘Robo-Signing’ Foreclosure Practices In Spite Of

Promises To Contrary: Investigation

NEW YORK/IMMOKALEE (Scot J. Paltrow) – America’s leading mortgage lenders vowed in March to end the dubious foreclosure practices that caused a bruising scandal last year.

But a Reuters investigation finds that many are still taking the same shortcuts they promised to shun, from sketchy paperwork to the use of “robo-signers.”

That is the headline in the Huff Post Business section yesterday, September 20th.

Remember that the banks promised to not do that any more?  Of course they did but that promise can be added to the other 3 promises one should never believe.

Imagine, a promise made by organizations that have exhibited no moral conviction, no human compassion and certainly no concern for the economies of the entire world.  A promise made by a consortium of global scoundrels, criminals, gangsters, liars and thieves.  And what a shock it is to hear that they have broken their comments.

Banks today are on a preplanned course of obtaining as much U.S. real estate as they can.  It is a part of an even greater plan by powers not yet identified to transfer as much American wealth to a handful of elite.  We have already seen the evidence of this cash wealth transfer.  Now the real evidence of the fraudulent activities surrounding banks in their attempts to transfer real property to the same handful of elite is rearing its ugly head.

It is as if the Matt Taibbi’s description of Goldman Sachs as the Great Vampire Squid has spawned an entire underground cave full of  Vampire Squids with Goldman as the Mother Vampire Squid.

Yet with all of our lawmakers in Congress, our U.S. Attornely General and all the Attorneys General in the United States, the FBI, the FDIC as well as our Executive branch does absolutely nothing.  In fact, they all turn the other way.  They to must fear these Vampire Squids.

But not enough is ever said of those people, the real people, living, breathing human beings who have been and are affected by this rash of asset transfers.

The Huff Post – Reuters Report – does put a face on the story.

In its effort to seize the two-bedroom ranch house of 87-year-old Margery Gunter in this down-on-its-luck Florida town, OneWest Bank recently filed a court document that appears riddled with discrepancies. Mrs. Gunter, who has lived in the house for 40 years and gets around with the aid of a walker, stopped paying her loan back in 2009, her lawyer concedes. To foreclose, the bank submitted to the Collier County clerk’s office on March 3 a “mortgage assignment,” a document essential to proving who owns a mortgage once the original lender sells it off.

But OneWest’s paperwork is problematic. Among the snags: state law permits lenders to file to foreclose only if they already legally own a mortgage. Yet the key document establishing ownership wasn’t signed and officially recorded until months after OneWest filed to foreclose on Mrs. Gunter. OneWest declined to comment on the case.

Problematic??!!

I would say problematically illegal.  The question is who signed the “key document” and  what was that persons authority to do so?  Part of the Florida Statute says that an Assignment (proff of transfer of ownership) must be filed and recoded prior to the foreclosure action being filed by the Plaintiff.  Again, I am not a lawyer but I would have to say that this fact alone is a procedural casue for the action to be dismissed by the court.

With proof positive of wrong and illegal practices, still nothing is done by our courts or legal justice system.  It is as if many of our courts have gone over to the dark side.

Now in years gone by, in a time and space far far away- almost as if in another galaxy – banks would have always preferred to “work something out” with a homeowner rather then to take their home.  The old (real old) saying that banks did not want to own real estate is no longer true.  They do want to own real estate.  They want to own it all.

One of the industry’s top representatives admits that the federal settlements haven’t put a stop to questionable practices.

Some loan servicers “continue to cut corners,” said David Stevens, president of the Mortgage Bankers Association. Nearly all borrowers facing foreclosure are delinquent, he said, but “the real question is whether the servicer complied with all legal requirements.” The loss of a home is “the most critical time in a family’s life,” and if foreclosure paperwork is faulty homeowners should contest it. “Families should be using every opportunity they can to protect their rights.” (emphasis added)

From our mouths to the mouth of the President of the Mortgage Bankers Association.  “Families should be using every opportunity they can to protect their rights”.  Yes, we all do have rights.  Protecting our rights is an even bigger issue for the long run.  We must protect and preserve our rights if we expect our children and their children to live in a free Republic.

There are some in the judicial arena that are as concerned with the preservation of our rights as we are.  While not yet in the majority of judges we are seeing more and more taking a stand for justice against fraud and criminal behaviour of banks and the attorneys that represent them.

Increasingly, though, courts are holding that the trusts suing to foreclose don’t actually own the mortgages. Judges have ruled that foreclosing based on flawed or missing evidence violates longstanding laws meant to protect all Americans’ property rights. (emphasis added)

In a landmark decision in January, the Massachusetts Supreme Judicial Court overturned a foreclosure (emphasis added) because of a lack of proper documentation.

“The holder of an assigned mortgage needs to take care to ensure that his legal paperwork is in order,” wrote Justice Robert Cordry in a concurring opinion. “Although there was no apparent actual unfairness here to the (homeowners), that is not the point. Foreclosure is a powerful act with significant consequences, and Massachusetts law has always required that it proceed strictly in accord with the statutes that govern it.”

(U.S. Bank National Association, trustee, vs. Antonio Ibanez, 458 Mass. 637.)

Justice Robert Cordry is among the handful of judges in this country “who gets it”.  He joing the ranks of Federal Judge Boyko of Ohio who denied 17 cases for lack of standing and proper paperwork and Supreme Court Judge Schack of New York both of whom have been on the right side of justice since this crisis began.

We applaud these judges and the few others out there who “get it”.   There are others and we would love to hear about them from you.  If you have had a positive, legal experience let us know.  If you have know of judges and/or cases where they have ruled on the side of the law not on the side of fraudulent banks, trusts and servicing companies please let us know.

Please view the entire story from Reuters on the Huff Post…click here

NOTE:  Soon an important announcement from TheForeclosureDetonator.  We are gong to become proactive in the fight against illeal foreclosures.  Stay tuned.

Foreclosure Victims Plan Protests Across U.S.click here 

This is the action we need.  We need to show our lawmakers that we are serious about our rights.  Click on above to read more.  THIS IS IMPORTANT.

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Robo Signers List

Wow.  Why have I not seen this before.  My better half just found it as is published on Scribd on April 1, 2011.  It is a long piece as it details a lot of information of individual Robo signers and Robo signing in general.  For example:

What is a robo-signer?
Robo-signers are mortgage lending company employees who prepared and signed off on foreclosures without reviewing them, as the law requires. Jeffrey Stephan, the GMAC employee who was the first identified as a robo-signer, has acknowledged in sworn deposition that he prepared 400 such foreclosures a day.The discovery of robo-signers could simply bethe tip of the iceberg. If so, more revelations could only increase the pressure on large banks.Their potential exposure to losses could skyrocket….

What·s the significance?
 The “robo-signing of affidavits and Assignments of Mortgage and all other mortgage foreclosure documents served to cover up the fact that loan servicers cannot demonstrate the facts required to conduct a lawful foreclosure.  If it turns out that robo-signers did indeed sign off on loans without review, they committed fraud by claiming knowledge of a financial matter of which they had no personal knowledge. It could also mean that some people are wrongly being evicted from their houses….
This excerpt warrants attention so I am creating the “bold” emphasis.
Briefly, Robo Signers are illegal because fraud cannot be the basis of clear title, trustee’s deeds following Robo Signed sales are void as a matter of law, notarization is a recording requirement for many of the documents, which we also know was often botched, and most importantly because robo signed falsifications ARE meant for use in court, including unlawful detainers and bankruptcy matters….

Clear Title May Not Derive From A Fraud(including a bona fide purchaser for value).  In the case of a fraudulent transaction the law is well settled.
This is a MUST HAVE document.

If you are an attorney and have not seen this it is a must have reference source.  It has links and information that can be vital to your defenses.

If you are an individual facing or in foreclosure, this document is a “must save” reference guide as it will give you information to help you find the fraud in your loan, assignments and foreclosure filings as well as other valuable information links, depositions etc., such as:
CONGRESSIONAL WRITTEN REPORT REGARDING
SECURITIZATION AND FRAUDCLOSURE OF NOVEMBER 18, 2010
click on title for link
It also provides a very long list of named Robo Signers giving who they worked for, who they signed for and what titles they used.
Here is just one example of what you will find:
Allen, Greg –
Greg ALLEN is an employee of Lender Processing Services
in Mendota Heights,Dakota County, MN.  He signs Mortgage Assignments as an officer of MERS, servicing companies, and lenders.  Allen often signs these Assignments to trusts years after the closing date of the trusts.  Allen frequently signs Assignments for mortgage companies that filed forbankruptcy years before the effective date of the Assignment. Deutsche Bank National Trust Company is one of the banks that frequently uses Assignments signed by Greg Allen to foreclose.   Greg Allen has signed Mortgage Assignments using the following titles:
Vice President, Mortgage Electronic Registration Systems, as nominee for American Home Mortgage Acceptance, Inc.;
Vice President, Mortgage Electronic Registration Systems, as nominee for Bayrock Mortgage Corp.;
Vice President, Mortgage Electronic Registration Systems, as nominee for CTXMortgage Co., LLC;
Vice President, Mortgage Electronic Registration Systems, as nominee for EMC Mortgage Corp.;
Vice President, Mortgage Electronic Registration Systems, as nominee for EQ Financial,Inc.;
Vice President, Mortgage Electronic Registration Systems, as nominee for FirstGuaranty Mortgage Corp.;
Vice President, Mortgage Electronic Registration Systems, as nominee for FranklinFinancial;
Vice President, Mortgage Electronic Registration Systems, as nominee for MaitlandMortgage Lending Company;
Vice President, Mortgage Electronic Registration Systems, as nominee for MortgageNetwork, Inc.;
Vice President, Mortgage Electronic Registration Systems, as nominee for PMC Lending; and
Vice President, Mortgage Electronic Registration Systems, as nominee for ValleyBank.
SEE full deposition -stopforeclosurefraud.com/2010/12/18/full-deposition-transcript-of-lps-greg-allenmers-is-live/

They list these Robo Signers alphabetically so it is easy for you to begin to verify some of the signatures in your documents.

THIS IS ONE POST YOU MUST PASS ON TO EVERYONE YOU KNOW.  It is without a doubt the most valuable post I have ever posted here on TheForeclosureDetonator.

Here now the link to the valuable reference guide courtesy of Scribd…click here

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Homeownership Preservation Foundation…Bookmark this site

click on image to go to site…

The Homeownership Prevention Foundation is a Not For Profit organization with a very impressive list of officers, board members and affiliates whose purpose it is to counsel people in financial distress, about to face or are facing foreclosure.

I offer this solely based on the information I got from reading their website.  I have not had any personal experience with them nor have I spoken with anyone from there.

Much of their work relies on the various government programs and bank modifications that have proved to be somewhat ineffective for most.

However, these programs have helped some and you might just be one of the “some” it can help.  The NPF counselors will begin direct negotiations with your bank/servicer, in itself a positive function, as most people tend to fear talking to their servicing companies.

While this is NOT a FORECLOSURE DEFENSE site it does offer FREE help and alternatives utilizing certain government programs and general financial crisis counseling.  I feel it is a worthwhile resource and worth a phone call (available 24/7) for a one on one conversation. Their services are always FREE. .

In fighting foreclosure, you need all the information you can get.  Here is an excerpt from their site.

The Homeownership Preservation Foundation (HPF) is a network of non-profits that helps distressed homeowners navigate their budget challenges by providing specific actions steps and, whenever possible, helping them to avoid foreclosure.  And best of all, we do it for free.

Since 2007, HPF has served more than five million homeowners, an average of 5,500 people each day, who depend on us as a trusted, neutral source of information and assistance.  Although we are an independent organization, we are partnered with, and endorsed by, numerous major government agencies, including the U.S. Department of Housing and Urban Development and the Department of the Treasury, as well as others on the frontlines of the country’s housing crisis, including Fannie Mae, Freddie Mac, NeighborWorks America, and your mortgage company.

For FREE foreclosure help, call the Homeowner’s HOPE™ Hotline now at:

  888-995-HOPE™
(888-995-4673)

We can provide counseling to you, free of charge, in English and 170 other languages, 24 hours a day, 7 days a week, 365 days a year.
We’re here to help. The next step is your call.

Their site also has a lot of other valuable information for you even if you do not want to call them.  Bookmark their site for ongoing news and information.

And remember, don’t give up, don’t move out, don’t cave in against the banksters and all of their illegal activities.  Keep fighting.

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Bank of America and Wrongful Foreclosures

Q.  When is a crime not a crime?

A.  When the crime is committed by a bank.

Those of who blog about wrongful foreclosures have for years now been writing articles disclosing the many frauds committed by the banks.  From securitization to the court house step sale of residential property.  Yet for years now no one in power – law enforcement agencies – seem to care.  In fact, they most often have turned a blind eye if not aided and abetted these crimes themselves.

Last night I was wondering about our laws and the very basic principal of assumed innocence until proven guilty.  Of course, this applies only to criminal cases not to civil.  In civil court the one must prove their innocence so they are presumed guilty at first.  I never did understand that.

All that being said, I am a firm believer in the assumption of innocence until proven guilty.  Without that major assumption many would fall into this abyss of guilt when truly innocent.  This, of course, is a much larger topic not for this particular forum.

Having said I believe in innocence until guilt is proven, why then to I openly accuse banks and their bankster executives of criminal actions and continued criminal activities?  The answer is simple.  It is because there has been more then sufficient evidence produced and published  – often times with admission.

Here are just two more examples of proven guilt beyond a reasonable doubt.  While the stories are not new, they have received wide spread national media attention.  These are not isolated cases and Bank of America, as indicated in one of the linked articles below, is referred to a “serial offender of foreclosure fraud”.

The first story is about the 82 year old Tampa man who went on vacation to return home to a house that had been emptied of all its contents.  All of his lifelong belongings and possessions.  The locks on his door were even changed.

On the outside this would immediately look like a case of breaking and entering, burglary and grand theft yet the local police department did nothing.  They called the contractor who was hired by B of A to clean out the house who simply told the police “it was a mistake” (Indeed, they were contracted to clean out the house next door).  The police then concluded that this was a civil matter not a criminal case.  Civil???  Someone just broke into a house and burglarized it of all its contents! 

Watch this brief video from MSNBC and Dylan Ratiganclick hereSorry, embed not possible

To add insult to this massive injury…the house had no mortgage.  It was free and clear.

What ever happened to the right of privacy in our own homes as well as to the right of peaceful enjoyment?

In this second case which happened in Collier County, Florida (just down the road from Tampa), another couple who paid cash for their home  and was being foreclosed on by – none other then – Bank of America.  They went to court, proved they owned the house free and clear.  The judge ruled that it was a wrongful foreclosure.

Here again, wrongful foreclosure to me means a fraudulent one.  If this is fraudulent and fraud is against the law then where is any criminal action agaisnt BofA?  Fraud, last I looked, was against the law – a crime.  Maybe I am wrong about that.  Perhaps if an attorney is reading this they may want to clarify this for me.

The outcome of this case is somewhat different from the case above.  The homeowners did succeed in fighting the wrongful foreclosure and are trying to collect their legal fees.  In a strange turn of events, they actually foreclosed on the bank.  Kudos to their attorney who had the chutzpah – guts – to do so.

View the entire report from digtriad.com/WFMY Newsclick here
Sorry, embed not possible

 

Two examples of crimes committed.  Conclusive proof and evidence I would say.  Both cases should have criminal charges placed against the offenders yet once again, if you are a bank, you own a permanent “Get Out Of Jail Free” card.

The link below is worth viewing.  I will post it another day for all to see.

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Foreclosure Information from MoreFreeInformation

More Free Information Article Directory | Challenging the Lender’s Right to Sue for Foreclosure

Challenging the Lender’s Right to Sue for Foreclosure

By: Nick Adama

Many homeowners are becoming more aware of the defense to foreclosure that has come to be known as the “produce the note” strategy. This involves challenging the foreclosing lender or servicing company on its legal right to sue the borrowers in the first place. Essentially, if the bank can not prove that it owns the note and mortgage or deed of trust, it does not have the right to bring a foreclosure action against the homeowners.

However, not every challenge to produce the original loan documents has been successful, typically due to procedural errors or other easily correctable mistakes on the part of the borrowers. Homeowners should be aware of certain actions that have been taken in successful cases, so they have a better chance of having their own foreclosure thrown out of court for the bank’s inability to prove legal standing.

First, if the homeowners are being sued by the lender in a judicial foreclosure state, it is important to deny in the answer to the complaint that the plaintiffs own the note and mortgage in the first place. This real party in interest issue can be raised through an affirmative action claim or by filing a motion with the court. However, if the homeowners do not raise the issue, the court will assume the issue of standing is not debated.

It is also important for homeowners to do their homework in checking the local land records for the property being foreclosed on. If there are documents recorded with the county indicating a different chain of title than the one the bank is trying to show through the lawsuit, the discrepancies may be enough to have the case thrown out until the foreclosing company can show it owns the note.

Banks will often submit unsupported affidavits when it will be difficult or impossible to produce the original note. But these documents can be challenged by the homeowners in their answer to the lawsuit. Simply having an officer of the foreclosing company state that it owns the original paperwork is not sufficient if it can not produce the note upon the borrowers’ request.

Especially if there are other documents indicating another company may be attempting to collect on the mortgage, the issue of standing and who owns the original note become vital. If the court allows the lawsuit to move ahead without proof of standing, the borrowers may be in danger of being sued again by the correct party. Thus, it is important to keep and obtain any documents showing any other company’s interest in the debt.

Finally, homeowners can demand that the lender produce evidence to show how, when, and whether the original documents had been assigned to the foreclosing party. Courts will be likely to look on this type of request as reasonable, especially if there are other questions of which company owns the loan or if there is other evidence (such as documents filed with the county) showing an incomplete chain of title.

In light of all the securitization and chopping up of rights to mortgages, the produce the note strategy of challenging the bank’s right to bring a lawsuit against borrowers is becoming a more wide-spread defense to foreclosure. While it may not solve every homeowner’s mortgage problems, it can delay a foreclosure by a period of months or years while the lender attempts to locate the relevant paperwork, time that the owners can use to save up money for moving expenses or to get back on track with payments.

Author Resource:-> Nick publishes articles which gives homeowners the foreclosure advice and resources they need to save their homes by themselves and fight back against the bank. The site describes various options, including foreclosure refinancing, deed in lieu, loss mitigation, stopping a trustee auction, and more. Visit the site to read more about how you can avoid losing your house and repair your credit: http://www.foreclosurefish.com/

Article From More Free Information Article Directory

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Inside The Meltdown…PBS Frontline…A Must See Program

Inside the Meltdown was broadcast Tuesday, February 17th on PBS Frontline.
The occurances of September, 2008, can be called “The Economic 911”. (my tag)

Courtesy of their site I am embedding the entire program for your viewing. It is a one hour program but is a MUST SEE by every American.

See and hear for the very first time what the causes were, why the actions taken by the government and why the urgency to spend billions of our dollars. Also learn if this crisis is close to being over. Includes commentary from former Bear Stearns executives.

The stark reality is shocking. Following is dialogue directly from the Frontline web page.

As the housing bubble burst and trillions of dollars’ worth of toxic mortgages began to go bad in 2007, fear spread through the massive firms that form the heart of Wall Street. By the spring of 2008, burdened by billions of dollars of bad mortgages, the investment bank Bear Stearns was the subject of rumors that it would soon fail.

“Rumors are such that they can just plain put you out of business,” Bear Stearns’ former CEO Alan “Ace” Greenberg tells FRONTLINE.

The company’s stock had dropped from $171 to $57 a share, and it was hours from declaring bankruptcy. Federal Reserve Chairman Ben Bernanke acted. “It was clear that this had to be contained. There was no doubt in his mind,” says Bernanke’s colleague, economist Mark Gertler.

Bernanke, a former economics professor from Princeton, specialized in studying the Great Depression. “He more than anybody else appreciated what would happen if it got out of control,” Gertler explains.

To stabilize the markets, Bernanke engineered a shotgun marriage between Bear Sterns and the commercial bank JPMorgan, with a promise that the federal government would use $30 billion to cover Bear Stearns’ questionable assets tied to toxic mortgages. It was an unprecedented effort to stop the contagion of fear that seemed to be threatening the rest of Wall Street.

While publicly supportive of the deal, Treasury Secretary Henry Paulson, a former Wall Street executive with Goldman Sachs, was uncomfortable with government interference in the markets. That summer, he issued a warning to his former colleagues not to expect future government bailouts, saying he was concerned about a legal concept known as moral hazard.

Within months, however, Paulson would witness the virtual collapse of the giant mortgage companies Fannie Mae and Freddie Mac and preside over their takeover by the federal government.

The episode sent shockwaves through the economy as confidence in Wall Street began to evaporate. Within days, in September 2008, another investment bank, Lehman Brothers, was on the brink of collapse. Once again, there were calls for Bernanke and Paulson to bail out the Wall Street giant. But Paulson was under intense political pressure from conservative Republicans in Washington to invoke moral hazard and let the company fail.

“You had a conservative secretary of the Treasury and conservative administration. There was right-wing criticism over Bear Stearns,” says Congressman Barney Frank (D-Mass.), chairman of the House Financial Services Committee.

Paulson pushed Lehman’s CEO Dick Fuld to find a buyer for his ailing company. But no company would buy Lehman unless the government offered a deal similar to the one Bear Stearns had received. Paulson refused, and Lehman Brothers declared bankruptcy.

FRONTLINE then chronicles the disaster that followed. Within 24 hours, the stock market crashed, and credit markets around the world froze. “We’re no longer talking about mortgages,” says economist Gertler. “We’re talking about car loans, loans to small businesses, commercial paper borrowing by large banks. This is like a disease spreading.”

“I think that the secretary of the Treasury could not fully comprehend what that linkage was and the extent to which this would materialize into problems,” says former Lehman board member Henry Kaufman.

Paulson was thunderstruck. “This is the utter nightmare of an economic policy-maker,” Nobel Prize-winning economist Paul Krugman tells FRONTLINE. “You may have just made the decision that destroyed the world. Absolutely terrifying moment.”

In response, Paulson and Bernanke would propose — and Congress would eventually pass — a $700 billion bailout plan. FRONTLINE goes inside the deliberations surrounding the passage of the legislation and examines its unsuccessful implementation.

“Many Americans still don’t understand what has happened to the economy,” FRONTLINE producer/director Michael Kirk says. “How did it all go so bad so quickly? Who is responsible? How effective has the response from Washington and Wall Street been? Those are the questions at the heart of Inside the Meltdown.”

To view this program please turn off Bloomberg TV by pressing the square button on the lower left of the Bloomberg image on the left side of this screen. Thank you.


Is this crisis over or even close to being over? You be the judge.

Banks Want Foreclosures…Don’t Want to Help Homeowners

With all the governments actions and attempts to repair our economy, stem the tide of foreclosures and help the people, it appears that these efforts are weak to say the least. It appears that the financial industry is stronger in their efforts to protect and enrich themselves and have more clout over Congress then do the people.

Business Week recently published a very well written expose on this topic called,

“The bad mortgages that got the current financial crisis started have produced a terrifying wave of home foreclosures. Unless the foreclosure surge eases, even the most extravagant federal stimulus spending won’t spur an economic recovery”
What really came first – the chicken or the egg – bad mortgages or bad lending practices? CNBC recently aired an investigative report, “The House of Cards”, where they exposed how Wall Street, urged by the Bush administration, lowered guidelines to allow just about anyone to get a mortgage. The story exposed the fraud not only by Wall Street but by the rating agencies who fraudulently gave AAA ratings to securitized mortgage packages which indicated these investiments were safe. With AAA ratings, the worldwide investment community would gobble them up not really knowing what they were buying.

So the banks intentionally created “bad” mortgages – which they had to know would crash – now they want to take back the homes they financed. Why? My belief is that they are looking towards another windfall profit era when home values begin to appreciate. They will have ownership (I question the legality of their taking possession) of millions of home and when the market is right they will sell them at a profit. I have read that two thirds of the foreclosed properties in Florida are not even listed – they are being hidden by the banks.

“One reason foreclosures are so rampant is that banks and their advocates in Washington have delayed, diluted, and obstructed attempts to address the problem. ”

“The industry strategy all along has been to buy time and thwart regulation, financial-services lobbyists tell BusinessWeek . “We were like the Dutch boy with his finger in the dike,” says one business advocate who, like several colleagues, insists on anonymity, fearing career damage. Some admit that, in retrospect, their clients, which include Bank of America (BAC), Citigroup (C), and JPMorgan Chase (JPM), would have been better off had they agreed two years ago to address foreclosures systematically rather than pin their hopes on an unlikely housing rebound.”

Conspiracy is a very loose term and I don’t like its’ use in most cases, but in this case I believe it is relavant. The conspiracy exists not only amongst the banks but at certain levels of our government working with the banks. The purpose of course – greed.

“In public, financial institutions insist they’ve done their best to prevent foreclosures.”

Oh yes, how good these financial institutions are at advertising and promotion. One need only go back and see how they promoted and advertised thier mortgage programs enticing everyone. They are masters at this. First they advertised how beneficial Adjustable Rate Mortgages (ARM) were, then to create more business they advertised how bad they were offering homeowners new fixed rate mortgages. Propaganda, publicity and deception, all in the name of – your guessed it – GREED.

“AN INDUSTRY IN DENIAL
However the skirmish ends, the industry’s contention that it has done as much as possible to limit foreclosures seems hollow. Some statistics it cites appear to be exaggerated. Even pro-industry figures such as Steven C. Preston, a Republican businessman who headed the Housing & Urban Development Dept. late in the Bush Administration, concede that many lenders have dragged their heels. “The industry still has not stepped up to the volume of the problem,” Preston says. One program, Hope for Homeowners—which Bush officials and banks promised last fall would shield 400,000 families from foreclosure—has so far produced only 25 refinanced loans.”

“Some from the industry denied a foreclosure problem existed, including Sandor E. Samuels, at the time chief legal officer of subprime giant Countrywide Financial. They vowed to continue selling loans with enticing introductory rates as well as those requiring minimal evidence of borrowers’ income. “We are going to keep making these loans until the last second they are legal,” Samuels later told a fellow participant.”

“Much of Dodd’s attention shifted to his campaign for the Democratic Presidential nomination. Senate Banking Committee spokeswoman Kate Szostak says Dodd aggressively pursued the foreclosure issue, but “both the industry and the Bush Administration refused to heed his warnings.” The lawmaker accepted $5.9 million in contributions from the financial-services industry in 2007 and 2008.”

Are you beginning to get the picture. There is so much more in this article from Business Week. It is rather long but is a MUST READ if you are in any way at all interested in “the truth”.

If you still don’t believe there are games being played at our expense just look at this information published on the same page on Business Week as the article.
The figures under the 2007 and 2008 columns represent the lobbying dollars spent. It appears that legislation in our government is governed not “by the people” but by the corporations. Is this the way our founding fathers meant it to be? I don’t think so. We, the people of this great nation are being hijacked and enslaved by the large and ever growing larger corporations as “our” government plays along.

I for one feel manipulated. Millions of Americans have been manipulated as the move is on to make the majority of us indentured servants.
Other interesting reports:

This podcast link from Business Week in reference to the article subject of this post. It should open in your player. This is audio not video,

Michigan Sheriff “Protects and Serves”


The Detroit Free Press published a report saying,

“Wayne County Sheriff Warren Evans’ announcement Monday that he would indefinitely halt mortgage foreclosure sales may buy some time for homeowners in financial trouble, but experts question its legality and say it can’t prevent lenders from taking back homes from owners.”

2008 photo by KIMBERLY P. MITCHELL/Detroit Free Press

While the legality of his actions may be in question Sheriff Evans justifies his actions by interpreting the language of TARP. As quoted from the article,
Evans said he believes the federal Troubled Asset Relief Program, approved by Congress last fall, trumps state law and preempts him from selling foreclosed homes. The program requires the secretary of the Treasury to implement a plan to settle foreclosures and to encourage lenders to modify loans to help owners stay in their homes.
TARP or the troubled, Troubled Asset Relief Program, was in theory meant to help homeowners but as we all know that has not happened. But Sheriff Evans sees what many of us see -including this writer – that there does need to be some relief for homeowners which in turn would help deteriorating values and neighborhoods. In fact, keeping homeowner in their homes can possibly begin to stabalize the market putting us on a path to recovery.Evans seems to have a conscience lacking by many legislators and government officials. Especially lacking by our “not so great” financial institutions.
The article goes on to quote him saying;
“I cannot in clear conscience allow any more families to lose their homes through foreclosure sale until I’m satisfied they have been afforded every option they are entitled to under the law to avoid foreclosure”
Of course, Evans is a candidate for Mayor of Detroit so sum may think this a political ploy. Even it is, it still goes to serve people and possibly offer solutions. Maybe it will even force the lenders to make sincere workout efforts.
Evans further justifies his actions by saying,

“It’s just a vacant house that is going to be scavenged,” The copper is going to be taken. It’s going to be a blight in the neighborhood. Common sense would tell me that occupying that house by anybody would be better for the structure than the person not being in it.”

“Common sense”, he says – a commodity missing from many in government and in corporate America. His common sense does make sense. People – even in financial distress – still love their homes, will maintain their homes keeping neighborhoods more viable by stabalizing values. A prime ingredient needed to help the housing market.
Vanessa Denha-Garmo, a spokeswoman for Wayne County Executive Robert Ficano, raised the issue of legality in a prepared statement:

“The sheriff appears to have good intentions that would have mass appeal, especially with the struggles we are facing in this region. However, there is a legitimate question of whether or not he can legally sustain this in a court of
law.”

Yes Vanessa, maybe there is a Santa Clause. Vanessa is also right when she says that the good intentions of Sheriff Evans would have “mass appeal”.
We need not only mass appeal but we need the masses to stand up and speak out. I for one, congratulate Sheriff Evans for his bold but honest – and I believe – sincere actions.
He may not prevail but he certainly will get more people thinking and maybe more to act.
We have two Congresswomen speaking out and now a Sheriff. I would like to see more of our elected officials and our corporate citizens speak out on hehalf of the people of our nation and “Protect and Serve”

Pro Se Defendant Prevails

The purpose of TheForeclosureDetonator is to encourage people in foreclosure or facing foreclosure to defend against the action. I, of course always recommend that a person seek the advice of a qualified attorney and to retain their services to represent them.

The reality of our current economic situation is that many cannot afford the services of an attorney and don’t know that they can actually represent themselves in litigation as Pro Se. As a result, many just walk away from their homes believing that there is nothing they can do.

The lenders, servicers, trusts, trustees or who ever is the Plaintiff, along with their lawyers prey on this fact. They know most people cannot afford an attorney and further realize that most people – realizing that they are delinquent simply accept the fact and walk away.

msnbc_mikestuckey_thumbIn the article The home you save could be your own on MSNBC.com they describe one mans efforts and his performance at his hearing.

Attorney Neil Garfield of Arizona and a consumer activist crusading on behalf of those in foreclosure said,

“It’s better to be pro se than not to do anything at all,”

 “But it’s better to have a lawyer than be pro se. A lot of this stuff requires knowledge of motion practice, civil procedure, evidence, proof that the average person never had a reason to learn.”

Indeed, it is better to have a lawyer but if that is just not possible then Pro Se is the only other alternative.  There is a lot of information one can get on the internet and from certain legal aid organizations that can help teach and guide one through.  But the subject of the MSNBC.com story is that it can be done. 

“Representing yourself should really be a last resort,” agreed Halperin of the Center for Responsible Lending, a nonprofit organization with a mission of protecting U.S. homeowners  from unscrupulous (this author’s emphasis) lenders. While legal help for embattled homeowners is scarce, “There are resources out there,” he said. Many bar associations, for instance, match up clients with volunteer lawyers, and his group has formed the Institute for Foreclosure Assistance, which recently received a $15 million grant to provide legal aid to homeowners.

090127-louis-molina-vlg-9a_widecLuis Molina of Miami fought back and won.

Doing it himself
After he was served with foreclosure papers over the summer, Molina said he had “so many meetings with so many attorneys and not one of them knew what they were doing.” So the 41-year-old husband and father of an 8-year-old daughter who had been forced out of a publishingbusiness by the souring South Florida economy, started reading everything he could find online and elsewhere about foreclosure. He used Garfield’s Web site, self-help legal books and pleadings by foreclosure attorneys to fashion his own case.

The basis of defending a foreclosure is the legality by which they are being done.  Many – if not most – are illegal but if not defended by the homeowner the courts have no other choice but to grant the foreclosure. 

In a judicial foreclosure state such as Florida, a lender – and I use that term loosley – must initiate a court action and have a judge order the foreclosure.  When a homeowner is served with the initial action via a summons they typically have 20 days to respond to it and post their defense.  If they do not, then the case is uncontested and the judge has no other option but to grant a deficiency judgment ordering the foreclosure and sale of the property.

What makes many foreclosures illegal is that the Plaintiff, the party sueing you for foreclosure does not have “standing”.  This means that they do not have the right and authority to take this action against you.

In order to foreclosure you must have legal ownership of the mortgage note.  As a result of the securitization process, most notes were sold to a trust who them pooled thousands of loans then sold the pool in shares to investors around the world.

Due to the massive numbers of mortgages being originated and due to the enormous profits made by securitization many lenders did not do the proper paperwork, create and record the proper assignments of the notes or other evidence of the sale. 

By defending the foreclosure, you are asking the Plaintiff to “prove” their ownership therefore “their legal right – standing – to foreclose.  If they cannot prove their standing, which many cannot, the case very likely will be dismissed by the judge, ending for the time the action against you.

“To have standing in a foreclosure proceeding,a financial institution must (author’s emphasis) show that it possesses the note, and can document the chain of sales and assignments by which it was obtained. “

A story published in The National Law Journal references a Brooklyn< N.Y. judge, Arthur Schack as saying:

“I deny more foreclosures than I approve,” said Justice Arthur Schack of Kings County, N.Y., Supreme Court, in Brooklyn. “I want to see the servicing agent’s power of attorney, I want to see all the paperwork before I approve it. If the paperwork is garbage, I deny it. If you’re going to take away someone’s home, it should be done properly.”

In response to this article, I commented the following which NLJ published in their print edition.

 While two wrongs don’t make a right, the foreclosure process, representing the laws of our land should follow them.

The fraud and deception by attorneys is shameful.  They know better and they know the laws yet they still push these foreclosure actions through by the thousands. 

 

Two wrongs simply don’t make a right.  For more information on this and other topics please visit my other sites:

If we can’t trust the judicial system then who and what can we trust in this country.  The courts should be the place where justice is served for all the people in a just and legal manner.

The lenders, servicers, registrars (MERS), assignees, assignors, trustees or whoever the plaintiffs may be have all profited to the tune of millions and billions.  None of them have the real liability, they sold that to investors world wide who are the other victims here.

More people should fight their foreclosure actions.  It would do more to help the economy, maintain real estate values and the integrity of neighborhoods.

It is obviously for the money and the belief that the average person, already traumatized by the economic situation, will NOT DEFEND themselves.  They will simply pack and leave.

It is refreshing to see Judges such as the one mentioned here and others, recognizing the situation for what it is and dismissing cases.

Yes, those in default do owe the money but by committing fraud on the courts, the parties acting as plaintiffs are violating not only the law but the dignity of the courts.

Yes, many are in foreclosure for a variety of reasons.  In case we have not noticed, the economy is on a hard downward spiral.  The unemployment ranks are growing and many who had good solid jobs and income no longer do.

Welcome to TheForeclosureDetonator

This blog and the related site, www.TheForeclosureDetonator.org are meant to help the millions of Americans who have fallen victim to mortgage foreclosures.  Very few know that a foreclosure CAN be fought legally in court.  Very few know that most foreclosures are illegal and are basically “fraud”.  The lenders that are foreclosing are committing fraud not only on the many homeowners but on the courts themselves.  They prey on the masses, knowing full well that most people don’t know their legal rights and the laws governng the foreclosures.  The lenders along with the attorneys representing them are profiteering once again furthering the fraud against the invetors who purchased the mortgages in the form of securities.

Lenders have not only been paid for the mortgages they made but are now illegally taking back properties, selling them and profiting twice.

THIS MUST STOP!  We need to maintain the integrity of our neighborhoods, the justice system and most of all the citizens of this country who are being scammed by an economy working in favor of banks and Wall Street. 

This blog along with www.TheForeclosureDetonator.org will begin to provide the knowledge needed to FIGHT FORECLOSURES and win, stopping the banks and Wall Street from profiting through illegal actions.

Anyone involved in foreclosure or anyone who has been through foreclosure can be helped.  More and more judges around the nation are recognizing the fraud and denying the foreclosures.  Some are even reversing final judgments and unwinding the foreclosure.

Your comments and questions are welcome here.  Toghether we can fight this crime against the population and begin to put an end to rogue corporations whose greed is sanctioned by the government allowing them to fleece its citizens.

Here is a quote as was published in the National Law Journal:

National Law Journal as reported by Julie Kay, staff reporter on July 14, 2008

 

“I deny more foreclosures than I approve,” said Justice Arthur Schack of Kings County, N.Y., Supreme Court, in Brooklyn. “I want to see the servicing agent’s power of attorney, I want to see all the paperwork before I approve it. If the paperwork is garbage, I deny it. If you’re going to take away someone’s home, it should be done properly.”

 

 

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