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.
IS THERE A NATIONAL FREEZE? OR IS THIS A SNOW JOB?
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 CALL POLITICIANS LEADERS – WHY?
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
BANKS INVESTIGATE THEMSELVES
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
, Countrywide and ReconTrust (the trustee used to sell the home) all are integrated. One of the BAC addresses is America Countrywide LANE. I wonder how many judges have offices there. Or maybe they own stock in BAC. hmmmm.