Wednesday, October 13, 2010

50 state Inquiry - Foreclosure Freeze or Snow Job ?

 50 state Inquiry - Foreclosure Freeze or a Snow Job ?  Today I was on my way to court and the car radio blared out the anticipated news:   40 State Attorney Generals join together to investigate the mortgage industry.

Mind you I was listening while driving so I cannot quote word for word,  but the report went on to state the familiar terminology.   The robo-signers is an issue that needs investigation to make sure that foreclosures are legal. For those that don't know, robo-signers is term to describe the paperwork fraud - of legal witnesses not reviewing paperwork, and/or notary fraud involved with foreclosure paperwork.  Wow great!    When I got home this afternoon the investigation had all 50 states participating!!!!!  

SURPRISE:   There was no announcement of a foreclosure freeze WHILE  investigating fraud. WHAT THE HECK?    There is the self imposed Bank of America  & GMAC nationwide freeze.  Our Attorney General sent letters to 60 financial institutions. But no freeze.   What kind of snow job are we in?   check out my page for freeze news   There are two major banks with voluntary freeze nationwide.


There is mortgage fraud, foreclosure fraud, payment fraud, accounting fraud.   OK so the banks aren't doing things in a legal manner all the time.   The important  question is: “ Why not FREEZE all foreclosures nationwide.  Are politicians letting the rattlesnake babysit the baby?    Do you let people under arrest conduct their own criminal investigation???? 


They, the leaders make the claims of paperwork fraud  sound as these are  mere procedural errors that happens a little bit more than the comfort level allows: __R iiiii ght ___

  • Fraud  MIGHT have happened some. -  depositions reveal  up to  10 thousand signatures a month).  
  • Fraud  MIGHT be a little bit industry wide. -  5 of the 7 major banks are involved . 
  • Fraud  MIGHT affect a few homeowners. - estimated  60 to  90% of foreclosures are wrongful 


The banks are pretty much reporting that the  foreclosures  are probably correct decisions,  however the paperwork is shoddy. HELLO -- if the paperwork is shoddy, HOW DO YOU KNOW the decision was right? Why are the banks volunteering a freeze (well 2 are) if the paperwork is all correct?  HELLO? 

Wells Fargo settled with 2 million in foreclosure prevention fine as part of the settlement with AZ AG, all the while Wells Fargo proclaiming that it  stood behind its documents;  THEY DIDN'T NEED AUDITS!  

Wells Fargo speaks with lying tongue ... why settle if you stand behind your documentation?

STOP THE FORECLOSURES and investigate the judges next.  Why should it take thousands of homeowners writing and calling daily to get action?  Why aren't the lawsuits enough or the media examples enough to get action going. There are a few judges that actually read documents but the rocket docket judges need to be dealt with too.  Is it possible the judges are that stupid, and lazy or is there something else going on there?

You know there is fraud when you realize that Bank of America, Countrywide and ReconTrust (the trustee used to sell the home) all are integrated.  One of the BAC addresses is Countrywide LANE.  I wonder how many judges have offices there. Or maybe they own stock in BAC.  hmmmm.  


Haggard Ryder said...

Snow? Heck I think you can call this one account of the weather. Isn't the forecast this year for clear and still?

With the elections only a few days away I think it is Clear to your Ass and Still Coming. What do you think?

Or maybe is just me thinking they are trying to blow smoke up my ...

Darla said...

LOL you have a point... maybe after elections we will know more about what kind of smoking snow there is!