Insurance Companies Sue Bank Of America Over "Massive Mortgage Fraud", Find 91% Of Securitized Loans Are Misrepresented | zero hedge

NOTE: ou will want to read this whole article by clicking link on title... It includes a Scrib'd document that is very interesting. :)

Insurance Companies Sue Bank Of America Over "Massive Mortgage Fraud", Find 91% Of Securitized Loans Are Misrepresented | zero hedge: "To wit, from the lawsuit: 'In carrying out its review of the approximately 19,000 Countrywide loan files, MBIA found that 91% of the defaulted or delinquent loans in those securitizations contained material deviations from Countrywide’s underwriting guidelines. MBIA’s report showed that the loan applications frequently “(i) lack key documentation, such as verification of borrower assets or income; (ii) include an invalid or incomplete appraisal; (iii) demonstrate fraud by the borrower on the face of the application; or (iv) reflect that any of borrower income, FICO score, debt, DTI [debt-to-income,] or CLTV [combined loan-to-value] ratios, fails to meet stated Countrywide guidelines (without any permissible exception).' The plaintiff counsel is Bernstein Litowitz, which was made famous from the WorldCom litigation. We doubt they will settle for a few measily pennies on the dollar. As for the list of litigants, it is a veritable who's who of the insurance industry: Dexia Holdings, FSA Asset Management, New York Life iInsurance Company, The Mainstay Funds, Teachers Insurance & Annuity, TIAA-CREF Life Insurance, and College Retirement Equi"

Bank of America

Countrywide

Insurance Companies

Mortgage Loans

ratings

Wells Fargo

WorldCom

reservist-in-war-against-foreclosure: Personal Finance News from Yahoo! Finance

reservist-in-war-against-foreclosure: Personal Finance News from Yahoo! Finance: "With that expense and his reduced income, he said, he fell behind on his mortgage -- a difficulty many part-time soldiers faced when reserve and National Guard units were mobilized.

Believing he was protected by the civil relief act -- as, indeed, he was, as of Sept. 11, 2004 -- his family repeatedly informed Saxon that Sergeant Hurley had been sent to Iraq. But Saxon refused to grant relief without copies of his individual military orders, which he did not yet have.

Although Saxon's demand would have been legitimate if Sergeant Hurley had been seeking a lower interest rate, the law did not require him to provide those orders to invoke his foreclosure protections.

Nevertheless, Saxon referred the case to its law firm, Orlans Associates in Troy, Mich., which completed the foreclosure without the court hearing required by law. The law firm filed an affidavit with the local sheriff saying there was no evidence Sergeant Hurley was on military duty. At a sheriff's sale in October 2004, the bank bought the property for $70,000, less than the $100,000 the sergeant owed on the mortgage."

Insurance Companies Sue Bank Of America Over "Massive Mortgage Fraud", Find 91% Of Securitized Loans Are Misrepresented | zero hedge

Insurance Companies Sue Bank Of America Over "Massive Mortgage Fraud", Find 91% Of Securitized Loans Are Misrepresented | zero hedge:

"The benchmark for documented mortgage originators' lies is getting higher and higher."

Former Texas Judge Gets Attorney Fees, TRO, Writ Of Execution Against Chase

Former Texas Judge Gets Attorney Fees, TRO, Writ Of Execution Against Chase

Rupco notches housing successes | Westfair Online

NOTE: BOLD IS ADDED

Rupco notches housing successes | Westfair Online: "In 2010, RUPCO was the make-or-break force that helped 55 homes find first-time buyers in Ulster County. As importantly, RUPCO counseled 400 homeowners on how to forestall imminent foreclosure.

“I think we’ve been able in these difficult economic times to bring additional housing resources to Ulster County and to the Hudson Valley region,” RUPCO Executive Director Kevin O’Connor said. “We’ve worked collaboratively with so many organizations. The foreclosure initiative – the Hudson Valley Foreclosure Prevention Program – is RUPCO, Hudson River Housing and Legal Services of the Hudson valley – serving huge numbers. The partnership with Homeless Prevention Rapid Re-Housing program is a stimulus program – a $1million partnership between RUPCO and Family of Woodstock – that targets first foreclosures.”

O’Connor said the downturn has been the worst in the region since the major loss of IBM jobs in the early 1990s. “We have served twice the number we expected to in half the time.” Acknowledging both the need and RUPCO’s proficiency at dispersing funds, he said another $260,000 has been allocated by the state to bolster its efforts.

Additionally, RUPCO has:"

Rupco notches housing successes | Westfair Online

NOTE: BOLD IS ADDED

Rupco notches housing successes | Westfair Online: "In 2010, RUPCO was the make-or-break force that helped 55 homes find first-time buyers in Ulster County. As importantly, RUPCO counseled 400 homeowners on how to forestall imminent foreclosure.

“I think we’ve been able in these difficult economic times to bring additional housing resources to Ulster County and to the Hudson Valley region,” RUPCO Executive Director Kevin O’Connor said. “We’ve worked collaboratively with so many organizations. The foreclosure initiative – the Hudson Valley Foreclosure Prevention Program – is RUPCO, Hudson River Housing and Legal Services of the Hudson valley – serving huge numbers. The partnership with Homeless Prevention Rapid Re-Housing program is a stimulus program – a $1million partnership between RUPCO and Family of Woodstock – that targets first foreclosures.”

O’Connor said the downturn has been the worst in the region since the major loss of IBM jobs in the early 1990s. “We have served twice the number we expected to in half the time.” Acknowledging both the need and RUPCO’s proficiency at dispersing funds, he said another $260,000 has been allocated by the state to bolster its efforts.

Additionally, RUPCO has:"

Fla. Chief Justice Charles Canady says Florida courts cannot withstand additional spending cuts, must stop relying on fees from foreclosure cases | Gainesville.com

NOTE: IS THIS WHY THERE is so much corruption and turning of head, allowing fraud by judges... It builds the state coffers???? greed

Fla. Chief Justice Charles Canady says Florida courts cannot withstand additional spending cuts, must stop relying on fees from foreclosure cases | Gainesville.com: "Chief Justice Charles Canady says Florida's courts can't stand any more spending cuts nor can they continue to so heavily rely upon fees from foreclosure cases to pay their bills.

The state Supreme Court's leader gave that assessment to the Senate Judiciary Committee on Tuesday.

Florida lawmakers are facing a shortfall of $3.6 billion to $4.6 billion in the budget year that begins July 1."

Nashville home foreclosures up again | Nashville Business Journal

Nashville home foreclosures up again | Nashville Business Journal: "Foreclosure rates in the Nashville-Davidson-Murfreesboro-Franklin area increased to 1.73 percent in November, up from 1.29 percent in November 2009. It’s also a jump from October, when the rate was 1.56 percent."

Bank of America and Wells Fargo Most Sued Banks in 2010

Bank of America and Wells Fargo Most Sued Banks in 2010: "The IRA report found that last year Bank of America was sued in federal court 3,285 times and Wells Fargo was sued 3,092 times, noting that these cases can garner more than $1 million in settlement costs.
According to the report, Citigroup, JPMorgan, Goldman Sachs, and Morgan Stanley have many fewer lawsuits.
Only US Bancorp has a large portion of mortgage exposure but manages to avoid a proportionally large amount of lawsuits, last year experiencing only 59 federal litigations."

Another Decline in California Foreclosure Activity - TheStreet

Another Decline in California Foreclosure Activity - TheStreet: "La Jolla, CA (DQ News) -- The number of California homes going into foreclosure dropped again during the fourth quarter of 2010 to its lowest level in more than three years, the result of shifting market conditions as well as evolving lender and mortgage servicer policies, a real estate information service reported.

More on Real Estate
Rayonier Beats Despite Lower ProfitsNovember Home Prices Continue to CoolDigital Realty Leasing Revenue Gains 160%
A total of 69,799 Notices of Default (NoDs) were recorded at county recorders offices during the October-to-December period. That was down 16.2% from 83,261 for the prior quarter, and down 17.5% from 84,568 in fourth quarter 2009, according to San Diego-based DataQuick Information Systems.


Last quarter's activity was the lowest since 53,943 NoDs were recorded in the second quarter of 2007. It was just over half the record 135,431 default notices recorded in the first quarter of 2009."

Churches Become the Latest Victims of Foreclosure | The Atlanta Post

Churches Become the Latest Victims of Foreclosure | The Atlanta Post: "The country is still reeling from residential and commercial real-estate properties falling into foreclosure, but the banks are going to have even messier plates due to recent reports that a number of churches are struggling to keep their doors open.
According to The Wall Street Journal, many churches borrowed too much or built too big during boom times and now are struggling to repay their debts as membership and collections shrink. Real-estate services firm CoStar Group Inc. stated that nearly 200 religious facilities have been foreclosed on since 2008. Rev. Jesse L. Jackson Sr. told the Journal that “churches are the next wave in this economic crisis.”"

Local News | Man convicted in LA of foreclosure scam | Seattle Times Newspaper

Local News | Man convicted in LA of foreclosure scam | Seattle Times Newspaper: "ederal prosecutors say McGrue's company, Gateway International, promised to delay or prevent foreclosures by having at least 250 victims sign over title to their homes. In return, McGrue sent the lenders more than $50 million in phony promissory notes that he claimed were backed by the U.S. Treasury.

Authorities say McGrue didn't save a single home but he collected at least $800,000 in fees and rent from victims. He also got titles so he cold resell the properties."

Will the White House ever get it? Military legal suit results in bank foreclosure awards (video)

(note this is personal opinion and not meant as legal advice nor is it directed at any one bank.  my surmises are based on what I have read and learned. - you must check your own facts and draw your own conclusions)

3 years into foreclosure mess, with government programs a dismal failure and FRAUD issues not being clamped down on hard by legal means; the reports on the wrongdoing by banks toward the military is NOT surprising. 4000 military denied lower interest and protection by laws. 14 families foreclosed on wrongfully. Chase now admits it and apologizes according to various news sources, although I could not locate an apology quickly on their website nor on the chase military website.

It is galling to me that ANYONE has to fight to have rights granted.  Many foreclosures were denied TILA violations, we haven't even addressed toxic loan targetting all that much. The discovery of the robo-signed paperwork should have had MOST of the judges around the country, throwing some lawyers and/or bankers in JAIL.  It is a crime to record false documents. It is additional crime to present them in court.  It should not have been necessary to  call for a 50 state investigation.

It does not surprise me that the banks IGNORED military rights, just as they have in the past ignored Tila recissions and QWR (qualified written requests) and loan validation requests.
We are happy for the military issue being resolved. Marine Capt. Jonathon Rowles, was the person bringing this to attention!   Watch the video below to learn more.

Visit msnbc.com for breaking news, world news, and news about the economy

Errors affect thousands of military mortgages - Navy News | News from Afghanistan & Iraq - Navy Times

NOTE: LETS guess - they foudn this themselves right? NOT ON YOUR LIFE - the banks only address things brought to their attention notice the additional paragraph added. bolded for effect.


Errors affect thousands of military mortgages - Navy News | News from Afghanistan & Iraq - Navy Times: "JPMorgan Chase is issuing checks totaling $2 million to 4,000 service members after discovering overcharges and errors in their mortgages.

“We made mistakes, we deeply regret them, and are working to fix it in the hopes that this does not happen again,” said JPMorgan Chase spokeswoman Kristin Lemkau.

Fourteen service members were improperly forced into foreclosure. Chase has resolved 13 of cases and is working on the remaining one, Lemkau said.

The errors were made in the loans of service members who requested their rights under the Servicemembers’ Civil Relief Act, and came to light after a lawsuit was filed in federal court by a Marine fighter pilot.

The SCRA provides a number of protections to service members, including the right to require a bank to reduce interest rates to 6 percent on loans entered into before active-duty service or mobilization."

AND THIS from same article read the whole thing its is fascinating:

Lemkau said Chase officials were aware of some of problems with service members before the lawsuit, “but the full-on review intensified” afterward.

NOTE: IN OTHER WORDS THE BANK HAD NO INTENTION OF DOING ANYTHING.... THE LAWSUIT JUST ENCOURAGED THEM TO DO RIGHT!

Sen. Jeff Merkley asks Obama for sharper focus on foreclosure crisis | OregonLive.com

Sen. Jeff Merkley asks Obama for sharper focus on foreclosure crisis | OregonLive.com: "WASHINGTON - With the housing market still sputtering in Oregon and across the nation, Sen. Jeff Merkley asked President Obama on Thursday to renew his focus on the crisis and to spell out his plans in Tuesday's State of the Union address.

"Addressing the foreclosure crisis is essential to our families and our economy,'' Merkley says in his two-page letter to Obama.

'Nearly three years have passed since the housing bubble burst, the unemployment rate skyrocketed, and our economy began its sharp decline. While some sectors of the economy are beginning to show signs of recovery, the nation’s housing market continues to struggle. Indeed, foreclosure filings continue at a pace of over 300,000 per month, devastating families across our nation,' he writes."

San Francisco Bay Area Home Prices Fall as More Foreclosed Properties Sold - Bloomberg

San Francisco Bay Area Home Prices Fall as More Foreclosed Properties Sold - Bloomberg: "Foreclosure sales increased for the fifth straight month to 31 percent of all purchases, the largest proportion since March. California as a whole had the most foreclosures of any U.S. state last year, with 546,669 filings, Irvine, California-based data seller RealtyTrac Inc. said last week.

“Most of what we’re seeing are distress sales and bargain hunting, with a smattering of discretionary buying,” John Walsh, MDA DataQuick’s president, said in today’s statement. “While the dicey economy and employment concerns are major factors, tight mortgage credit is also a big issue right now, especially for the upper half of the market.”"

Where's my refund? Tila, Recission, and Truth in Lending Arguments

NOTE: Where's my refund - the payments paid for years to the servicer? In truth TILA refunds are harder to receive than what this article portrays. The article however, has GREAT information. We filed TILA claims with servicer and they answered NO WAY its been past 3 years. FRAUD however means that the 3 years is extended. Make sure to have a full foresensic audit, or forensic examination of your closing paperwork and application.

Tila, Recission, and Truth in Lending Arguments: "MY ANSWER TO OUR READER’S QUESTIONS: 1.TILA Rescission is self enforcing. It automatically extinguishes the lien and the liability. The time for rescission does not run until you actually knew the full scope of the violation. That is tantamount to it never running out. 2.YOU CAN ASSERT AND SHOULD ASSERT TILA VIOLATIONS IF YOU CAN BEFORE YOU ARE IN FORECLOSURE OR EVEN IF YOU ARE CURRENT IN YOUR PAYMENTS. 3.Judge is required to look for authority himself if you are representing yourself without a lawyer (pro se). This provision in effect makes the Judge your lawyer and your Judge. Pretty good combination for you. 4.Judge has no discretion to deny damages, refunds etc to Borrower once a violation of TILA, no matter how small, is discovered."

Bair Proposes Nationwide Claims Commission for Foreclosure Victims | FDL News Desk

Bair Proposes Nationwide Claims Commission for Foreclosure Victims | FDL News Desk: "The FHFA released a letter yesterday highlighting a new initiative, in conjunction with HUD, to figure out a new model for compensating servicers, so they aren’t incentivized to foreclose.

Let’s be blunt – this isn’t good enough. A nationwide compensation fund is fine, but in the end it’ll probably end up as just a payoff, the cost of doing business for the banks. You have to add to that real modifications with principal reductions, to reset the entire housing market and stabilize it. And you have to provide consequences for illegal behavior, which is in the background of virtually every foreclosure action over the past several years. Judge Arthur Schack is taking on foreclosure lawyers because they are lying in his court and breaking the law. The remedy for that is to throw those people in jail, and that needs to go all the way to the top. “I’m not going after lawyers, I’m out to do justice,” Judge Schack said. “We have something called due process of the law.” And there’s no justice without actual sanctions for criminal behavior. “We’re not Animal House,” concluded Judge Schack. “Some animals, like banks, are not more equal than others, to bring George Orwell into this.” It was Animal Farm, but have I mentioned that I love Judge Schack?"

COLE: Daley's Third Way path to Third World economy - Washington Times

NOTE - AND HERE YOU HAVE IT: we have been shouting long and hard that this is a LAND GRAB, that our rights as property owners are being eroded. The government is not to protect YOU; government is owned by the banks and will side over the homeowner and the economy everytime.

 IF YOU DON'T GET OFF YOUR BUTTS AND FIGHT WE ARE GOING TO LOSE AMERICA and the basic rights we have to own homes. THIS IS STATES RIGHTS ISSUE - NOT FEDERAL

COLE: Daley's Third Way path to Third World economy - Washington Times: "Therefore, last week's release by Third Way of a domestic policy memo outlining a plan for 'Fixing Foreclosure-gate' may well be a trial balloon for the Obama administration's next set of policies for dealing with the ongoing housing crisis. We can only hope that it won't be any worse than the administration's ongoing, miserable failure known as the Home Affordable Modification Program, or HAMP.

Unfortunately, our hopes would be in vain, because this memo outlines a federal power grab, taking precedence over 400 years of well-settled real-property case law. Essentially, it proposes that Congress pass legislation that would, among other things, provide 'a 'safe harbor' barring paperwork-related litigation on certain foreclosures,' and establish 'a statute of limitations to limit the time period in which suits can be brought.' In other words, it would override states' rights to decide real-property law and to 'protect' the rights of 'injured homeowners,' and it would simply eliminate many of those rights.

Why did Third Way release this memo now? It is a direct response to last week's decision by the Massachusetts Supreme Judicial Court on the Ibanez v. U.S. Bank case,"

Countdown to Repeal: Economy Will Suffer If Obamacare Stands | The Foundry: Conservative Policy News.

NOTE: I am against forcing healthcare on people via tax penalties just on general principles. I am glad there are so many economists that see a basis for fixing this huge MISTAKE of HCR

Countdown to Repeal: Economy Will Suffer If Obamacare Stands | The Foundry: Conservative Policy News.: "Geithner is right that Congress should act to improve the economy, but leaving Obamacare in place would do the opposite. Repeal of Obamacare is the only way to restore economic prosperity in the United States, according to the 200 economists who signed a letter addressed to House and Senate leadership in support of overturning the new health law. The letter stresses that “the Patient Protection and Affordable Care Act is a threat to U.S. businesses and will place a crushing debt burden on future generations of Americans.”

Of the several provisions that will cause detriment to the economy, the letter highlights expensive mandates and penalties, higher taxes, and massive new spending.

Mandates that require employers to purchase insurance for their workers or pay a penalty will reduce businesses’ resources to grow and create new jobs. John C. Goodman, president of the National Center for Policy Analysis, explains how, by increasing the overall cost of labor, Americans can “expect huge labor market upheaval and high unemployment” as a result of the new law."

Foreclosure Defense and South Carolina Matrix Decision | South Carolina Bankruptcy Lawyer Blog

Foreclosure Defense and South Carolina Matrix Decision | South Carolina Bankruptcy Lawyer Blog: "A recent South Carolina case, Matrix Financial Services Corporation v. Frazer provides common sense help. Matrix says, in effect, if lenders don’t follow South Carolina law when closing mortgage loans, they may not be able to foreclose their mortgage when the borrower defaults.

The South Carolina Supreme Court explained the problem lenders may face as follows:

[I]n this case Matrix comes to the court with unclean hands, and is thus barred from seeking equitable relief. Matrix hired LandAmerica OneStop to perform the title search, prepare the documents, and close the refinance loan–all admittedly without the supervision of a licensed attorney. Thus, Matrix has committed the unauthorized practice of law in closing the refinance mortgage, clearly violating South Carolina law. The dissent’s protestations aside, a party cannot violate the law and expect not to bear the consequences of its actions. This Court will not grant a discretionary, equitable remedy to a party who refused to follow the laws of this state. Therefore, even if Matrix were able to satisfy the requirements for equitable subrogation, Matrix would not be entitled to that equitable remedy because it has unclean hands."

Foreclosure Prevention Efforts Stepped Up by Obama Administration - Current Rates, News and Information about Foreclosure | Go Banking Rates

note: Maybe everyone reading this should call the FHFA and educate them on some facts: THIS IS INTOLERABLE that government would wait an additional year to find a solution to the FRAUD.

Foreclosure Prevention Efforts Stepped Up by Obama Administration - Current Rates, News and Information about Foreclosure | Go Banking Rates: "This is why the Federal Housing Finance Agency (FHFA) is seeking input from the industry, investors, consumer groups and other government agencies to figure out how to change the system.

Foreclosure filings and repossessions reached record numbers in 2010, and while 500,000 borrowers have received permanent loan modifications under the Home Affordable Modification Program (HAMP), many more could have avoided foreclosure if they’d received help from servicers.

The FHFA is pushing to get some solid modification ideas and plans in place as soon as possible, but actual changes to the system aren’t expected to take place before the middle of 2012."

The Latest Mortgage Mediation Lesson

The Latest Mortgage Mediation Lesson: "Maryland housing officials told a House of Delegates panel yesterday that despite the state’s 33,000 active foreclosures they had only completed 317 mediations—just shy of one percent. The lackluster performance prompted panel members to ask whether the program justified its overhead. The short answer is, “No, not if Maryland requires homeowners to opt-in.”

There is nothing wrong with Maryland’s foreclosure mediation program. For homeowners that participate, things look pretty good—one third received a loan modification or otherwise reached a settlement. The figure is lower than success rates in other jurisdictions, but all programs so far have seen settlement rates rise as they matured.

The problem is the 99 percent of homeowners facing foreclosures that don’t participate. There are many reasons for why homeowners don’t opt-in for mediation. They range from the practical (homeowners in foreclosures receive a deluge of offers for assistance, many of them spurious,"

The New KBND.COM!!!

The New KBND.COM!!!: "Oregon Senator Jeff Merkley says the federal government must do more to help stem the flow of foreclosures. He says the federal home affordable modification program is not working. “The difficulty of having a common point of impact, of papers being lost, of suggestions to make partial payments or not make full payments. And while you are pursuing a modification tract, a foreclosure tract is also being pursued which has created enormous stress and confusion.” In Bend Tuesday, Merkley unveiled his proposed six point p"

GOP investigative hearing to probe bailouts - Bloomberg

GOP investigative hearing to probe bailouts - Bloomberg: "Related News:

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WASHINGTON (AP) — The House's major investigative committee will explore financial bailouts and the foreclosure crisis on Jan. 26, in the panel's initial hearing this year.

Chairman Darrell Issa (ice-uh), of the Oversight and Government Reform Committee, invited special inspector general Neil Barofsky and Treasury Secretary Timothy Geithner to testify.

Barofsky has investigated failures in the government's financial bailout program and problems with the Obama administration's Home Affordable Mortgage Program to alleviate foreclosures."

Massachusetts court issues long-awaited decision on foreclosures - Lexology

Massachusetts court issues long-awaited decision on foreclosures - Lexology: ".

To begin with, Massachusetts is one of the states2 which permit mortgage holders to foreclose without the filing of an adversarial judicial case, a process known as “non-judicial foreclosure.” In Massachusetts, the mortgage holder must simply certify that it is exercising its contractual right to sell the property as a result of a default and that the mortgagor is not protected by the Servicemembers Act (a federal statute restricting foreclosures on property owned by a person serving in the military). The question presented in Ibanez was whether the plaintiffs, who were trustees of securitized mortgage pools, had acquired clear title as a result of their purchases of the properties in conjunction with the exercise of the non-judicial foreclosure powers granted by the mortgages on the properties."

Bank Foreclosure Monitors Under Consideration by States in Industry Probe - Bloomberg

Bank Foreclosure Monitors Under Consideration by States in Industry Probe - Bloomberg: "GMAC’s decision comes after a Maryland nonprofit, Civil Justice Inc., agreed to drop a class-action lawsuit on behalf of homeowners whose foreclosure documents were signed by GMAC employee Jeffrey Stephan, Anthony DePastina, an attorney for Civil Justice, said in a phone interview. Stephan said in sworn depositions last year and in 2009 that he signed as many as 10,000 affidavits a month without checking their accuracy in a practice that has come to be known as “robo-signing.”

“Hopefully GMAC’s actions will set a precedent with other lenders where robo-signing has occurred,” DePastina said. “I think there will be a ripple effect throughout the country.”

DePastina said as many as 1,000 foreclosures may be tied to defective affidavits. Proia said that number is “factually inaccurate.”

“The company has been filing cases for dismissal and many have already been granted,” Proia said in an e-mail."

FDIC chair: Foreclosures raise 'double dip' risk | Inman News

FDIC chair: Foreclosures raise 'double dip' risk | Inman News: "More than three years into the foreclosure crisis, mortgage servicers remain 'behind the curve' in dealing with distressed homeowners, and risk triggering a double dip in U.S. housing markets, FDIC Chairwoman Sheila Bair told mortgage bankers today.

Bair said regulators should use new authority granted to them under the Dodd–Frank Wall Street Reform and Consumer Protection Act to draft national standards for loan servicers. The standards would address 'misaligned incentives' that allegedly left loan servicers without the expertise and resources they needed to engage in effective loss mitigation, she said, laying the groundwork for the 'robo-signing' scandal."

New foreclosure mess: Faulty documents | PRI.ORG

New foreclosure mess: Faulty documents | PRI.ORG: "Judges are losing their patience for dealing with lawyers guilty of submitting false documents. 'Judges who are lawyers really care for the profession,' New York Times national legal correspondent John Schwartz told The Takeaway, 'and when they see other lawyers doing the wrong thing then they get really upset.'

There have been consequences for lawyers who present fabricated documents, Schwartz reports. One judge ordered that $20,000 be paid in fines and costs related to papers that he said contained numerous falsities. Some courts require lawyers to vouch for documents that they submit. 'New York State, for example, has demanded that lawyers sign a two-paged affirmation saying that 'I've checked with the bank that is putting these papers forward and what's inside is accurate,'' says Schwartz.

These actions have not been without controversy from the lawyers involved. Some complain that the regulations put too much responsibility on lawyers, and that it puts lawyers in charge of their client's crimes. There has been some debate about vouching for the documents, but, as it stands, lawyers in New York are required to submit the forms."

Jared Loughner: Palin puppet or Individual with Delusions

When conversing on Faceebook with friends about the Tucson shooting, most are very concerned about mental illness and the way it affects our society and how it is often not diagnosed or dealt with properly. Some of the discussion turned toward the shooter and blame towards political figures. I have other theories that do tend to evolve from all I have learned in the foreclosure fight - my theory is that we don't know much of anything and the media will not be forthcoming any time soon.

Jared Loughner: Palin puppet or Individual with Delusions

This is the post I posted on Facebook: "John Laughner the Tuscon Shooter of Gabby Giffords and Judge Roll was not exactly a tea party member... and indeed he was anti government. You may not realize it but most (I'd say a HUGE percentage) of Tea Party members WANT government to change - not anti government. Media will try to portray him as a tea party member - but initially it was reported he was of liberal leanings.... hardly tea party stuff. Many Liberals believe in the gold standard and classically that is part of the definition of Liberal. Media is saying those that want gold as a standard are Tea Party members.

There is no proof whatsoever that the shooter listened to Palin! Logic dictates certain things follow each other. The shooter was an isolationist. I haven't read anything about the shooter attending tea party meetings etc... .that is something that some people have INTERJECTED in order to prove their point that it was political rhetoric that contributed to the shooting. The statement that he was influenced by maps or political rhetoric of Palin; infers that Loughner not only listened to but acted statements by Sarah Palin and interpreted her to be condoning violence. To do that you have to establish he actually listened to Palin and it just doesn't seem to be reported that he was her fan! Since Loughner's violent tendencies predate Sarah Palin, I think this is total BS. At some point you have to think logically.

ADDITIONALLY

I mean, after all Loughner is going to listen to those that AGREE with him. It is doubtful he was influenced by ANYONE especially given his derangement. He was a loner, independent and held his own opinions. Those characteristics are what each of the people that have known in the past have stated. In the few reports I have read, none of his friends called him a Tea Party member. In fact, one report captured and summed up what I have read in other reports today:

Friends described Loughner:

"He did not watch tv. He disliked the news. He didn't listen to political radio," Zack Olser, said, "He didn't take sides. He wasn't on the left. He wasn't on the right." - fair use quotes. Zack Olser was one of his high school acquaintances.

So where is the evidence Jared Loughner LISTENED to any of Palin speeches?

WHAT next, is the media going to start saying a huge contribution to his violence was a heartbreak and people should stay in a less than happy relationship, because a breakup might set off violence later on? Some reports said that a girl that broke up with him a few years back and indicate the breakup triggered his downward spiral. She is not responsible for his actions and neither is Palin - much as you would like that to be.

What next , people should not break up because it might cause a mental upset? Logically that means that we will have to outlaw, breakups, and any politcal rhetoric that is questionable; instead of dealing with the mentally ill in a better manner in America.

He also smoked pot and took drugs and was not religious - are those contributing factors too?

I still stand by the theory that there is WAY MORE here than media is letting on, and I am not so sure he was mentally ill. I am waiting for more information to come out.

Banks lose key foreclosure case in top Mass. court | Reuters

NOTE: FRIGGING ABOUT TIME- we've beeen saying for months the SERVICERS are not showing paperwork of ownership. The wrong parties are foreclosing and the right parties can't even be found oftentimes. Go Massachusetts!

Banks lose key foreclosure case in top Mass. court | Reuters: "ank shares fell, dragging down the broader stock market, after the Supreme Judicial Court of Massachusetts on Friday issued its decision, which upheld a lower court ruling.

The unanimous decision is among the earliest to address the validity of foreclosures done without proper documentation. That issue last year prompted an uproar that led lenders such as Bank of America Corp, JPMorgan Chase & Co and Ally Financial Inc to temporarily stop seizing homes.

'A ruling like this will slow down the foreclosure process' for banks, said Marty Mosby, an analyst at Guggenheim Securities. 'They're going to have to be really precise and get everything in order. It doesn't leave a lot of wiggle room.'"

Susan Golis | eHow.com

sxc.hu

Susan Golis | eHow.com

Susan writes on a number of topics and she has two articles that are very good for readers of this blog.

Many wonder how they can afford to move, or how to rent an apartment or home after being evicted. How to rent an apartment is a question that I had to face down with broken credit and a servicer not willing to even look into loan modification (thank goodness).

Some wonder how to avoid foreclosure and she has articles for both types of readers. If you are in this foreclosure situation and want to fight - scroll through some of the older blogposts. Whatever your situation, we hope it works out well for you. Leave a comment below.

http://www.ehow.com/how_4560794_avoid-foreclosure-unique-tips.
html http://www.ehow.com/how_4605687_rent-apartment-after-foreclosure.html http://www.firehow.com/2010110421231/how-to-rent-apartment-after-foreclosure

Sharing information and tips to increase earnings. Increase your passive, residual income. Guest bloggers welcome.

Google Maps

Google Maps - Dozens of bird, fish and wildlife killed off this last week. THANKS to Beryle of mortgage challenge yahoo group, who sent this link.

Pictures are harder to argue than words. :)

Phoenix ARizona - improper service, arresting lawyers and tenants evicted

It is plain to see that the thought processes in the pro-se (self representation)  group are working.  You can visibly feel the difference in court as the judges lean forward to pay more attention to the words being uttered.  Of course it is impossible to convey all that happened but I will try. Yesterday when one group member arrested the opposing lawyer in open court, the lawyers were laughing and the judge was in disbelief, questioning what the heck was being done: "you are attempting a citizen's arrest?"

The defendant (a homeowner like most readers here) explained that the false and forged documents used to foreclose his home and transfer interest were recorded in the country recorder's office (a crime). By presenting the recorded false documents in court was a crime -  it was perpetrating fraud open the court, and the state of Arizona. The defendant had no choice left but to ARREST the opposing counsel (lawyer).

After a few moments,  the judge was listening carefully to the defendant's words and the judge's stone-face showed it was no laughing matter.  Of course, the judge  denied the arrest and the defendant (in special appearance) was cautioned to stop or he would be placed in contempt.  The defendant then informed the judge that the lawyer was placed into the judge's custody.  The judge seemed a little more responsive as he realized the defendant homeowner was putting responsibility on the judge for aiding in the stealing of his home with illegal documents. He set the matter for a hearing or trial on January 12, 2011 at the 125 Washington courthouse in Phoenix. 

All this because a process server served papers to a residence and refused to believe the gentleman did not live there.   The person served actually lives in Maricopa city and was simply visiting the home of a friend.  Recently injured, the summoned person appearing before the judge explained that he had felt threatened as the process server was not listening and was aggressive.   The judge excused the wrongly served party and proceeded to tell the real homeowner that his answering motion  had waived the procedural process of serving a summons.   This does not seem to be a correct judgement but time to research that particular law is short.  Normally in foreclosure law, the courts have deemed that summons must be delivered to the person named. 

Other matters before the court indicate that people do NOT know their rights.  Given just 3 days from notice of summons (5 days are occasionally allowed) people are relying on banks lawyers to give them their legal options.  BIG MISTAKE, banks lawyers are regularly telling TENANTS or RENTERS that they will give them 30 days to move out.   BY FEDERAL LAW the least allowed time is 90 days.  The judges in several  cases I know of have allowed for the 30 days to stand OR have demanded the tenant or renter to ANSWER the motion (cost $250.00) and come to a hearing.  Sounds like a big money making scam for the state.  Jury Trials are regularly denied, citing that there is no evidence to show one is necesssary.  It is state CONSTITUTIONAL right to have jury trial with no limits mentioned. 

You will not find this stuff in your Arizona Republic or other newspapers.  You will not find it on your local talk shows or news broadcasts.  So spread around the word - things are NOT LIKE THEY SEEM!!! 

One last thing:  Two years ago I scoffed at those that said there was no justice and that things were not like they seemed.  I APOLOGISE - after sitting in court and watching the erosion of our civil rights,  I now know the truth.   The truth shall set you free. 

The Housing Bubble Blog » “On The Cusp Of Foreclosure” In California: blog excerpt

The Housing Bubble Blog » “On The Cusp Of Foreclosure” In California

NOTE this article outlines PREDATORY LENDING. There is a reason we have truth in lending laws, TILA, RESPA and fair debt collection laws...... greed makes businesses do strange things to people that could be their neighbors.

click title link to read full article: 

The Housing Bubble Blog » “On The Cusp Of Foreclosure” In California: "“Antonio and Celina Lopez recently began the bankruptcy process. They fell behind on payments just eight months after buying a home in Escondido in San Diego County.”

“Daisy Ramirez and Jose Mendoza, both 21, said they asked an agent to find their extended family a home but stressed that they couldn’t afford a payment of more than $3,200 a month. The agent found them a three-bedroom house for $570,000. After signing a blank loan application, the couple was approved for a piggyback mortgage, two loans requiring monthly payments of $3,200 and $1,200, Ramirez said.”

“She said they told the agent that was too expensive but closed escrow in January 2006 after being advised they could refinance in a year with enough equity to slash their monthly payment and even take a vacation. The house is now in foreclosure.”

“We were told the opposite of what was going to happen,” Ramirez said.”"

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White House Launches New Foreclosure Program To Help 'Underwater' Homeowners

Too little too late? DO NOT FALL for the modification scams..... you will lose any rights to sue over fraud in your home situation. Check with lawyer first. 10% off for those that have lost 50-70% value does not seem like a good deal to me..... walk aways have never looked so good!

White House Launches New Foreclosure Program To Help 'Underwater' Homeowners: "tarting Tuesday, the Federal Housing Administration will permit lenders to give these borrowers refinanced loans backed by the government. The lenders will be required to forgive at least 10 percent of the original mortgage amount. Investors who have control over the mortgages as part of their large portfolios will select which borrowers are invited to participate.

The plan was first announced in March. Its rollout represents the latest of numerous efforts by the administration to address the housing bust. So far, the government has only nibbled around the edges of the crisis, as its programs have run into numerous problems.

The lending industry was ill-prepared for a crush of distressed homeowners, the economy worsened and millions of homeowners had taken on so much debt that their financial woes have been nearly impossible to resolve.

Nearly half of the 1.3 million homeowners who have enrolled in the Obama administration's main mortgage-relief program – overseen by the Treasury Department – have already fallen out over the past year."

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‘Octomom’ Nadya Suleman still not evicted: Holidays pretty quiet at home - National Celebrity Headlines | Examiner.com

‘Octomom’ Nadya Suleman still not evicted: Holidays pretty quiet at home - National Celebrity Headlines | Examiner.com: "The balloon note that Suleman has been working to pay off is around $450,000 and with so many mouths to feed, she has found it impossible to pay the lump sum.

The final payment for the residence came due in October, but the two parties have been working out details and differences so that Nadya doesn’t have to move and perhaps one day can have the home deed in her name. As it appears now, a third party will be paying the note off and the deed will transfer to a new party as Suleman continues to live at the home."