Bank of America nears mortgage suit settlement | Business | Chron.com - Houston Chronicle

Bank of America nears mortgage suit settlement | Business | Chron.com - Houston Chronicle: "The proposed settlement is with a group of large investors including Pimco and BlackRock, as well as the Federal Reserve Bank of New York. Together they hold $56 billion in mortgage-backed securities from Bank of America, based in Charlotte, N.C.
The securities affected by the deal come from Countrywide Financial, the subprime mortgage lender whose practices have come to symbolize the excesses of the housing boom. Bank of America bought Countrywide in 2008.
The settlement goes beyond the securities owned by these investors, however. It covers nearly all of Countrywide's first-lien mortgages, which total $424 billion worth of original, unpaid principal balances. As a result, investors beyond those that are concluding the settlement stand to benefit."

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

BOA bank of america: Lying Scumbags Hinder Gov. Inquiry and Lose Billions

*

Watch the video below and as far as I am concerned, I have no sympathy. In my opinion BOA BAC NYM are lying sacks of **** that deserve to lose far more than a measly 27 billion dollars MORE (they already lost 46) . My opinion is they have lied, cheated, committed fraud, interefered in governmental inspections and have hurt the American Economy far more than any little bit of financial damage being done to them now. The estimate is that there are 11 million UNSOLD HOMES that are causing a glut on the market.... lowering values.

Every time you hear a LOCAL government official saying, "we have huge gap in the budget and need to raise taxes," remember this: BANKS and MERS conspired to keep recording fees out of the hands of government. Causing a shortfall of revenue to each state.

Everytime you see a house with foreclosure sign - remember that most of those houses are now owned by FHA/HUD thanks to BOA (BAC) CHASE GMAC (allied) DEUTSHE etc. The banks either sell the homes to FHA/HUD or they bundle up several homes and sell to Million Dollar investors (yup for one million dollars).   SELLING those RUSHED foreclosures back to the government. People can't even buy some houses that are abandoned - we want a house that has been sold to BOA since Aug. 2010. BOA is the owner of record at Maricopa County Recorder's office. BOA claims FHA owns it, FHA has no listing of the property.  SAD!!!!! 

 Everytime you drive by a house and see a sign for sale (bank owned) or paperwork in the window - REMEMBER THAT A FAMILY LIVED THERE ONCE - what has happened to that family? Split up, substandard living place, temporary shelter, living in forests, marriages destroyed or families torn apart and starving pets abandoned to shelters -  SOME HAVE LOST JOBS;

creative commons: BOA kiosks

Every time you drive by a BOA remember that they INTERFERED and HINDERED a government investigation into the foreclosure FRAUD.... needlessly booting out many people after REFUSING to modify loans or answer qualified written requests for verification of debt and all proceeds applied to loans

Every time you drive down the streets of your town, or shop - see how many branches and expensive buildings the banks own.

74 BILLION IS TOO LITTLE FOR BOA TO PAY

*fair use

[New post] GAME OVER? VEAL CASE VINDICATES EVERY POINT REPORTED ON LIVINGLIES - Spam - Yahoo! Mail

If you have been through bankruptcy get ready.. read the full post by clicking on link to find out the latest rulings in the 9th district circuit.... THIS IS AWESOME

[New post] GAME OVER? VEAL CASE VINDICATES EVERY POINT REPORTED ON LIVINGLIES - Spam - Yahoo! Mail: "The bottom line is that there is no claim, an objection to the proof of claim will obviously be upheld in view of this ruling, and the homeowner is going to get their home free and clear of any encumbrances or debts unless the real creditor shows up --- which is unlikely since the investors are busy suing the investment banks that sold them the bogus mortgage bonds.
LAWYERS ARE SHARPENING UP THEIR PENCILS GETTING READY TO FILE MOTIONS FOR REHEARING AND RECONSIDERATION IN AND OUT OF BANKRUPTCY COURT.
QUOTES FROM THE CASE:
'We hold that that a party has standing to seek relief from stay if it has a property interest in, or is entitled to enforce or pursue remedies related thereto, teh secured obligation that forms the basis of its motion.'
'We hold that a party has standing to prosecute a proof of claim involving a negotiable promissory note secured by real property if, under applicable law, it is a 'person entitled to enforce the note' as defined by the Uniform Commercial Code.'"

MR. X - vs. Citibank's motion to expunge notary decommission records from county recorders office

*all facts are to the best of my knowledged and all wrongdoing is alleged... this is written without prejudice and with journalistic license of free speech.  Verification of facts can be done by accessing court document search tools

CURRENT CASE IN ARIZONA: GET YOUR PUKE BUCKET READY! 

U.S. Federal Government/public domain

The fraud and wrongdoing in the banking industry in mortgage and foreclosure fraud knows no boundaries.   Higher than a court judge reins the Secretary of State.  Ranking right up there with the SOS are the state Attorney Generals. You'd think with all of  the fraud discovered and settled with the 50 Attoney General Probe, that the banks would be quivering in their boots. Indeed,  Brian Monohan, CEO and president of Bank of America  (or BAC home loans fka Countrywide Mortgages with  of ReConTrust and ties with Bank of New York Mellon) SHOULD CALL FOR immediate clarification of procedures and reversal of wrong.. but oh no full circle we come, -

BOA is not the only bank that should quiver in its boots,  Deutsche Bank (german) and HSBC (china) GMAC aka Allied, and Chase all have their  dark secrets in the world of mortgage/foreclosure fraud. But I digress, back to the subject.........

Banks indeed are NOT quivering, in fact they are commencing in more illegal actions with one bank

CITIBANK Mortgages  demanding that courts EXPUNGE the Secretary of State's findings regarding notary fraud. No doubt this is due to the fact that banks not only hire notaries full time, they provide the offices, payroll, instrcuctions and holiday bonuses for the robo-signing notaries. Explain to me how a bank can put in motions to disregard law, disregard the SOS findings - and motion to circumvent the reversal of false and forged documents.

Citibank v. Mr. X 

SOS-Ken Bennett

CASE IN POINT:   Our homeowner friend  (Mr. X) , filed a notary compaint resulting in the decommission of a notary's license, making all notarized documents by that notary invalid. Once their is fraud you cannot simply go back and undo the fraud. Fraud by law visciates everything.  Mr. X then files a lawsuit to regain custody of his home.  Citibank is not taking that lying down and files a motion to compel the court to not only disregard the fact that the notary lied and that all documents are now void - but they file a motion to EXPUNGE the recorded notary fraud from the county recorder's office.    powerplay.

 The bank's motion before the courts is to remove records from the County Recorder's Office. Any documents, affidavits or paperwork that would cloud the title due to the notary's CRIMINAL actions. Mind you, no-one is pursuing the notaries to put them in jail, just as no prosecutor has filed charges against the banks for filing FALSE and FORGED documents.  Many homeowners that fall for scams are recording false documents into public records and ending up in jail for breaking the law.

False documents cannot be removed from any government recording office, as a matter of law; so why does the bank and court entertain the idea that corrections can be removed?  OH that's right, they weren't required to file a clear chain of title either.................

MOTION TO EXPUNGE COUNTY RECORDED DOCUMENTS

Our homeowner friend, MR.X, found out about the motion to EXPUNGE SOS REVOCATION OF NOTARY LICENSE from country recorder's files, on a friday - just hours before the answer was due.  His lawyer advised him to not worry about it!   What to do now? Fire that lawyer and try to figure out how to undo what the lawyer's neglect has done. There was no time to answer the motion, given the late hour.
THis is no accident.   In my opinion this is an orchestrated attempt to conceal fraud. Winning here in Arizona will set a small amount of precedent... if this is happening elsewhere it will snowball.  WE may have to hav a Suupreme Court ruling on the handling of fraud.

ARIZONA COURTS are notably some of the most corrupt courts in the country - hence NO WINS despite known issues with robo-signing. In other states  such as  New York there is a  modicum of knowledge of  the law when it comes to promissary notes, evidence of debt and correct foreclosure procedures.  Arizona does not care. If they succeed in doing this removal of documents from the public office, then heaven help us all across the nation.

There should be NATIONAL OUTRAGE!!!!  This is scary shit.... that the banks and courts can redo paperwork that OFFICIAL GOVERNMENT OFFICERS have submitted.  The SOS and Attorney General's should put the full weight of their authority upon the court. The County Recorders nationally should rise up and protest the mandhandling of documents that have proven to be valid.  Of course,  let's not forget one bank told the AG in our case that they would not stall the sale anymore - they are right and that's that.   Arrogance at its finest, banks telling the Attorney General the way things will be.

Since the court did not immediately dismiss the banks motion indicates that the court  judges are corrupt and are grasping at any straw to save their pensions.   Pension funds are tied directly to the success of banks, real estate trust funds and even prisoner bonds.  For a court to entertain for 1 second the idea that a notary's decommission (resulting in the notary seal being invalid on documents he/she notarized) tells me that the courts have no basis in law or equity or truth.  Corruption rules.

I don't know which is worse; the thought that a judge is corrupt and part of a conspiracy that erodes civil property rights; or that a judge is innocent, but so uneducated in matters as to actually think the banks did not do anything wrong.

THE DILEMMA

MR. X now is faced with a delimna, do you raise your child, try to maintain a job  and live in peace or continue pursuing the American Dream and trying to make things easier for the next guy, and save America from the loss of property rights - affecting generations to come? AT what cost is it to fight to save property rights for others and for your child and children's children. Spending time in the courts and learning how to do legal paperwork is NOT FUN, it does not build relationships with family or co-workers.

OH YES; make no mistake, if we all sit back and let the banks walk forward with wrongdoing, coverup, paying government settlement fines -instead of paying back those wronged  - we will be losing rights for our children and their children and their children. Property rights are disappearing from this country.
If anyone wants to donate to MR.X - let me know and I will try to arrange something.  The legal fees mount up even when representing yourself. KUDO'S to MR. X - we admire his commitment.

If you live in Arizona read the notary manual - then go to showmetheloan.net learn how to fight for your home and make sure to donate to help keep the foreclosure fight information flowing. You can also pull your records and put in a notary complaint if appropriate. Watch in coming weeks to see the actual documentation.

Fraud in Foreclosed Homes Sales

HUD.gov

 Issues - what is fraud and what is fair rules? 

1) HUD - investors are bidding on these houses, swearing they will be owner occupant.  paying cash 5,000 to 10,000 over list price and HUD holds bids until they get the price they want. Some RE agents will not allow peopel to do this, others do a wink and nod to get buyers to bid. AT any rate, legally, HUD cannot sell to those that are investors until the house has been listed for over 15 days.  To my mind this is a mini-auction.

2) HUD has low cost home program geared to help low income.  originally if you were low income and a house had sat on market for over 6 months it could be bought for $1.00 -  those homes are sold to cities, and NON PROFITS for $1.00. Each $1 home is then either restored or sold "as is" - ----- when was the last time you saw a house for $1.00????? or $100  it isn't happening.  Those homes I am betting are going to governments to make money - like the 18,000 one in buckeye sold AS IS. 

3) Selling Banks (listings that use terms, REO, Bank owned, or Bank Repossed) are often, upon inquiry, sold to FHA/HUD/ and no longer handled by the bank.   FHA /HUD then may hold them for several months or one year not selling them, while they determine structural damage or title issues. 

3.5)  Example:  we heard of property for sale and checked it on Zillow and a Real Estate site.  since we could not locate the multiple listing number readily the first time - we checked with county records and determined BAC home loans owned the property via trust deed.  WE then called BAC who indicated that they are only servicing the property for the investor.  The investor is FHA - What the heck?  Upon a call to FHA (who was very helpful) it was determined it was not on their listings for sale, and being held for indetermine time.  We could check back periodically. We have been told the banks sell it back to FHA to get money back to cover their loss that FHA is taking them back as the insurer. (oh so they fraud people and give to the government - no wonder government doesn't seem to be effective in dealing with foreclosure fraud.)                                                                

4) HUD Money: While I think it is important to help people, why not get the money to them directly INSTEAD of announcments like this: 

HUD announced $15 million in grants to more than 200 local housing authorities through its Public and Indian Housing Family Self-Sufficiency Program last week. Communities in Chicago, Chillicothe, Ohio,Vineland, N.J., and San Antonio will receive grants to help connect families with important agencies and services. - HUD news June 7, 2011

Gotta love the banks and the government.  Helping low income?  NAH just improving communication! Let's just create more  hoops to jump through. 

photo: HUD.gov

AT this point in home hunting it is getting weary.  We are tired of several things 1) hearing one price and then finding out that a home has 5 bids within hours of a  listing   2) Finding HUD homes listed then sold for up to 10K more than listed price by investors 3) Finding home listed and discovering that it is not for sale because the banks aren't selling.

If we dont' find something soon, never fear - there is another foreclosure wave coming and it may be the worst drop foreclosures that we have seen to date.

Bank of America Gets Pad Locked After Homeowner Forecloses On It | digtriad.com

Bank of America Gets Pad Locked After Homeowner Forecloses On It | digtriad.com: "The case went to court and the homeowners were able to prove they didn't owe Bank of America anything on the house. In fact, it was proven that the couple never even had a mortgage bill to pay.

REad the rest of the story on the link above and watch the video... This is compelling how the bank knowing it did wrong, allowed it to go through court system and then refuse to pay... amazing isn't it?

A Collier County Judge agreed and after the hearing, Bank of America was ordered, by the court to pay the legal fees of the homeowners', Maurenn Nyergers and her husband. "