Tuesday, October 12, 2010

KPHO: Foreclosure updates and they GET IT WRONG!

WELL -  You would think with all the news KPHO would at least get it right. You'd think they would know what the heck the Foreclosure gate issues are.     They miss WHY foreclosures must stop. Darrell the man evicted, had it right!  He was doing all the right things and the bank foreclosed anyway.  He was Steamrolled. It is happening at an alarming rate. The media could have ran 105 miles or more with the information Darrell gave them in the news interview. They should have gone to the courtrooms in Mesa and watched as the evicting  lawyers tell those in eviction that they have NO HOPE, and NO RIGHTS and that it doesn't matter if they were in modification or not.  I heard Darrell loud in clear - there is steamrolling going on here!

KPHO also interviewed Jay from ASU.  He basically said that stopping foreclosures would harm the housing market, and that they have a right to foreclose despite any "mistakes".  I don't remember the exact wording and the story is not up on KPHO.com.  But I have to say, this:  JAY the WHY the banks can't foreclose answer is out there, there are by some estimations, 90%  of foreclosures are wrong.  It is not just the paperwork it is homeowners and families being kicked to the curb, when they have contractual rights that are being "steamrolled".

 *It is not just the paperwork-stupid".  The paperwork issue is not about  "mistakes".    The paperwork is FORGED documents, documents signed by a person attesting to KNOWLEDGE of the facts. They do not know the fact and CANNOT know the facts in 10 -30 seconds per signing.   THE NOTARY is often breaking law by not WITNESSING the signature, and worse yet notarizing days later.  Often the SIGNER is not the person that is authorized it is a team of up to 10 people FORGING the executives signature.  There is much much more to the issues but that is probably enough to boggle your mind. 10,000 documents a month or more. 

The paperwork is symptom of ALL the banks have done wrong; starting with the day they took your loan application.   Are  you even SURE you got a loan?   Did they follow all the laws then?  Are you sure what YOU wrote on application was what YOU wrote on the application? Was the appraisel correct? What about your payment scheduling and costs - you might need a loan document examination because chance are the numbers are OFF.  Golly, Is the right COMPANY even foreclosing.  Did you know people have been hit up by 4 different companies. Doesn't that make you wonder if their accounting is correct?  Jay you just don't know Jack.


You see they say in headlines ECONOMY WILL BE HURT BY FORECLOSURE FREEZE... what you learn after listening or reading is that the VULTURES will be hurt. .... those that make a living by selling foreclosed homes, REO homes, and flipping foreclosed homes.  Darrel in the KPHO news article was the homeowner who lost his home while modifying with the bank. The experts say the leaving title open to question will slow housing recovery: message to those not paying attention - homeowners ARE suing. Titles ARE in question and you can't fix it with a simple paperwork hocus pocus.  

If you have read this blog for long you know that a bank can change locks and claim a mistake.  The bank can foreclose on homes without a mortgage and claim a mistake.  And anyone with notarized documents, a willingness to record false documents and follow through to auction, well they  can then  claim your home.  After the sale,  the presumption by ARS (arizona)  law is that all was done right in conducting the trustee sale. 
BUH  BYE  Home. 

Our friend John is right.  IF everyone stopped buying foreclosed homes there would be no market. The banks make money on foreclosures.   Which brings up point 2 of why the economist was wrong.  THERE are a GLUT of foreclosures on the market and not enough demand for them.  This means houses can sit vacant and increase crime...  

Meanwhile a displaced family might lose jobs due to time needed to deal with situation, lose schooling or education and many more things can happen that impact society MORE than a few people need to learn different ways to earn money other than cannibalizing other's misfortune.  

You see many of these people are in process of negotiation with bank and then BAM  the house is sold out from under them BACK TO THE BANK (more often than not) and Eviction starts quickly usually with note on door that they have 5 days to respond. 

This article made me mad...  Yes,  it is important for people to work. BUT,  to protect the vultures over the DEFRAUDED homeowner?  This country IS going to Hell in a Handbasket. And if you know what that means then you know that foreclosure is not a respecter of persons or age, we all are vulnerable. 

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