We have waited for a long time for the Attorney General Investigations to close and they are closer to that day. Sadly I don't think it will do much for those that have been foreclosed on, evicted or otherwise harmed by wrongful foreclosures. I don't have much hope that the investigations will change much of anything. Feeling a little pessimistic these days. The first clip reflects a bit of why I feel pessimistic:
Palm Beach County foreclosure activists joining statewide rally today in Tallahassee:
"The problem of foreclosures and all the related issues for home owners are getting worse, not better," said Ron Kaniuk, a Boca Raton-based foreclosure defense attorney with the firm Ricardo, Wasylik & Kaniuk, which is sponsoring the trip. "Bankers are aggressively working to get legislation enacted that would further strengthen their position against homeowners."
Lawmakers may consider a handful of foreclosure-related bills this year, including SB 1288, which allows for non-judicial foreclosures on commercial properties. Florida is one of 23 states that requires a judge's approval for a foreclosure.
That correlates with earlier posts of how the Senate a few months ago basically asked the banks how they could help them more. Thank you Seantors (sarcasm intended).
EArlier this week there was a posting about HSBC halting foreclosures and news of a 'BANK IN' (protest) and even gas prices rising. Food prices are rising and housing values decreasing. The outlook is not very positive unless our leaders get a grip on and stop doing things that exacerbate our economic woes. Stop the bank fraud, reimburse victimes, stop printing funny money and give all businesses the green light to create jobs. There just does not seem to be much reason for the optismism that Bernanke was talking about just last week - gas prices are raising about 2 cents per day it seems.
EArlier this week there was a posting about HSBC halting foreclosures and news of a 'BANK IN' (protest) and even gas prices rising. Food prices are rising and housing values decreasing. The outlook is not very positive unless our leaders get a grip on and stop doing things that exacerbate our economic woes. Stop the bank fraud, reimburse victimes, stop printing funny money and give all businesses the green light to create jobs. There just does not seem to be much reason for the optismism that Bernanke was talking about just last week - gas prices are raising about 2 cents per day it seems.
Below are some headline news articles today.
David Stern law firm ceasing foreclosure operations at end of month - Foreclosure mill seeking to withdraw from hundreds of cases. This may be good news for Floridians
AGs eye $25B U.S. foreclosure settlement - State Attorney General Martha Coakley “The goal we’ve had all along is to stop this flow of unnecessary foreclosures and clear up titles,”
Foreclosure paperwork inquiry nearer to end, but settlement is far off
States Push Banks to Fix Foreclosure Process - subscription needed for WSJ
The Mortgage Mess Settlement Proposal: Off to an Awful Start - Unfortunately, the proposal as it has been described so far is a joke. The requirements for banks aren't strong enough, and yetThe Wall Street Journalrefers to them as a "wish list." All the coverage portrays the document as the starting point for "difficult" negotiations, implying that the final document will be even weaker.
Money owed to victims of foreclosure rarely gets to them- State law requires counties to hand over any proceeds from foreclosure sales after all the debtors on a property have been paid. Usually there's little or nothing left.
But when money is owed, counties put almost no effort into locating former homeowners. They're only required to send a notice to the homeowner's last-known address at the time the foreclosure began — usually the very house the homeowner was forced to leave — and to publish an ad in a local newspaper, often one the homeowner has never heard of.
November popular article
2 comments:
Foreclosure Mill David Stern’s getting out of the foreclosure business seems equivalent to reporting Bernie Madoff getting out of securities business.
Everyone knows that Stern committed flagrant foreclosure frauds which, among other things, has caused an incalculable amount of people to become homeless –illegally! And it’s common knowledge that lenders ceased sending foreclosure cases to Stern because of those frauds! But, unlike Madoff, Stern –and hundreds of lawyers who file fraudulent foreclosures– has faced no charges or prosecution. Instead, finger pointing is justifiably directed at Wall Street, while the ELEPHANT is in the room, hiding in plain sight!
Scores of people’s lives have been permanently damaged –courtesy of abhorrent illegal judicial tactics ! It is IMPOSSIBLE to resolve fraudulent foreclosures without addressing blatant wrongs occurring inside nationwide courtrooms by lawyers who file foreclosure proceedings!!
Lenders are not always the ones who are foreclosing on their security interests! There are foreclosures that NEVER became returned to lenders or banks, but were fraudulently “credit bid” by “Straw Buyers” and judicial insiders. Thus, blight is a telltale sign! [example: "What happens when a bank begins to foreclose on a property, then changes its mind?" @ http://bit.ly/i5z3Py ]
None other than lawyers who file foreclosures and record property deeds after purported foreclosures have capacity to defraud Bankruptcy Courtrooms and homeowners by filing FALSE “Lift Automatic Stay” motions and “Proof of Claims.”
Foreclosure lawyers are catalysts for the goal of getting property deeds recorded out of homeowners’ names; or maneuvering homeowners to believing they’ve lost ownership of their homes, so they move out. If people don’t move –some an eviction writ will be filed in some lender’s name. For decades, use of courtrooms in furtherance of real estate fraud has been the means for various participants to get slices of the “foreclosure pie.”
Due to foreclosure fraud, lenders use homeowners’ names and social security numbers on false IRS forms 1099-A’s (the game resumes after homes become flipped to new owners who are expected to default). Result from false 1099 s for distressed property owners: an IRS tax bill. **More on lawyers who intentional file illegal foreclosures http://chn.ge/eU2zAm
Barbara you are so right5... and some families get the glorious irs forms for more than one property. Some of these fake income 1099 are for homes that have been in the family for a generation or two. I like your picture of the Elephant in the room...it stinks to high heavens because they KNOW of the fraud and are not making it right for the VICTIMS
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