Florida AG 2 million settlement award: What about the homeowner?

Florida AG - Pam Bondi

March 26, 2011 - Yesterday, it was announced that the Florida Attorney General Office is receiving a settlement award of 2 million dollars.  The settlement is against attorney Marshall C. Watson and his law firm. A foreclosure mill which has been accused of improperly prosecuting foreclosure cases in Florida.

The distribution of the award is questionable and will not benefit those that have gone to bat to try to provide information to make the settlement possible.  Those who have lost their homes are already quite possibly on the street, in less than adequate shelter or staying with relatives. Homes have been ripped apart, pets left behind or split from family members. Jobs lost.  Wherever they are - those homeowners, rushed through foreclosure mill tactics,  were the ones injured. Florida State instead of helping with a settlement for those injured is using the settlement money to defray the taxpayer from funding investigation costs and to give a grant to Legal Aid to hire more lawyers to assist homeowners FACING foreclosure.   

With reservations which are outlined below we  applaud the determination to make law firms accountable for accuracy,

“We are aggressively investigating these law firms in order to protect the interests of everyone involved in foreclosure proceedings. Homeowners, lending institutions and the courts deserve to know that the law is being followed and all documentation is true and accurate,” stated Attorney General Pam Bondi. “Anything short of total assurance of complete accuracy during such serious situations is unacceptable.” - Florida AG 

If fraud is the basis of the settlement, shouldn't the fraud be reversed and the homeowner injured be compensated FULLY?  Where is the equity and where is help?   READ posts about the fraud perpetrated by the banks and then what is happening in courts.  Contract law is not being upheld except when it benefits the banks. Shouldn't part of the settlement have been fixing the wrongful foreclosures.  Shouldn't the state revise laws immediately to protect homeowners.  I want to be fair, spending money for Legal Aid lawyers to help prevent foreclosure actions is good but should not replace helping those already harmed by these seedy law firms. 

"Half of the $2 million payment from Marshall Watson’s firm to the Attorney General’s Office will be contributed to the Florida Bar Foundation to continue the Florida Attorney General Mortgage Foreclosure Grant Program. This grant program provides for the funding of Legal Aid attorney positions throughout Florida specifically devoted to the representation of low-income individuals facing foreclosure actions. " - Florida AG newsrelease

INQUIRING MINDS would like to know why it takes AG's to do the job (AND DETERMINE SETTLEMENT AWARDS) when the courts ARE NOT doing their job.  If Florida and other states had the judges with 1/2 the caliber of New York's Judge Schack, the necessity of the AG investigation would be moot point.  Taxpayer dollars would be saved and the economy could recover. 

Sometimes Government just looks at things backwards. For SEVERAL YEARS this wrongdoing has been ignored by courts, states and banks.  WE are talking MILLIONS of homeowners nationwide. Maybe we need to start suing the states to recover settlement damage for fraud perpetrated upon homeowners. Government seems powerless to help those that are really the victims in this whole toxic loan, mortgage fraud and foreclosure fraud mess. Anyone care to step up to the plate? 

Viral Report of BANK FRAUD: BEST REPORT SEEN! Video included

BEST Report I have seen on the bank and political FRAUD involved in foreclosure fraud.  Now they need an in depth report on the MORTGAGE FRAUD.    If you are concerned that you might have mortgage fraud search through the blog posts using tool above.  OR Check Many of the blogs on the blog roll to right and join mortgage-challenge yahoo group and showmetheloan.net.   You can also find out about foreclosure fraud and resources on these groups.

30-90% are WRONG.  Everyone I know says the figure is 90% and sometimes more.

If you know someone facing eviction give them the information on where to get help by letting them know of these groups.   It is not to late.

Listen to the report above and pay attention to the securities and chain of title.   WE need to save AMERICA  and deal with the fraud.  FRAUD is FRAUD is FRAUD.  PENSION funds are affected.

KUDOS to MSNBC for the BEST article I have seen! And to see the full video report of Woman burglarized by her bank CLICK HERE

Renters Rights after Foreclosure

I just found out my landlord lost this house to foreclosure or trustee sale. What do I do??? Does a Renter have any rights? 

I have seen this question a lot and it is really a distressing situation for both landlords and tenants.  Landlords maybe trying to negotiate a modification with the bank and not realize they are in danger of a trustee sale or foreclosure sale at auction.  The tenants might know ahead of time, think they might be able to bid on house and not be able to come up with enough funding.  Whatever the situation renters DO HAVE RIGHTS.

As a renter you should always keep a record of your payments, receipts and your lease or rental contract in a file that you can locate easily.   It doesn't hurt to scan and keep the files on a CD or in a computer file as well. 

 AFTER AUCTION: 

 Federal law allows your longterm lease to be in effect until ending date of the lease. Generally Federal law gives you 90 days even if you do not have a lease. This right is granted in the "Protecting Tenants at Foreclosure Act of 2009".  EXCEPTIONS: if the new owner is a buyer that plans on LIVING in the home they must give you 90 day notice.   Consult the Arizona Tenants Association if you need more details.  This blog is not meant as legal advice.     

A new owner may try to evict you and serve a  Forcible Detainer Notice.  This Notice will give you 3-5 days to answer. You need to answer it to protect yourself, laws are not automatic.   Your LEASE should be in effect  until  the termination date with some exceptions as noted above. Again consult the Arizona Tenants Association if you need more details.  This blog is not meant as legal advice.     

As a renter once you have been informed of a new ownership you pay the new owner; even if the former owner is fighting the sale and trying to regain ownership.  I know this is confusing to some landlords that have lost their house to a trustee sale, especially if they were negotiating for a modification. They should not put renter in the middle and should include the issue in their lawsuit, if they are pursuing legal action to reverse the trustee sale. 

Robinhood: STATES in Tights? Federal $1 billion bailout scares me

  ROBINHOOD:  STATES IN 

TIGHTS? 

                  

WASHINGTON (MarketWatch) -- The U.S. Housing and Urban Development Department on Wednesday allocated $1 billion in funding to U.S. states to help stabilize neighborhoods faced with many foreclosures. The sweeping bank reform bill, the Dodd-Frank Act, allocated the funds for the programs. "These grants will support local efforts to reverse the effects these foreclosed properties have on their surrounding neighborhoods," said HUD Secretary Shaun Donovan. States can use the funds to acquire land and property; demolish or rehabilitate abandoned properties. 

NOTE:   Conflict of interest is showing, where is the help to homeowners?  Are they helping homeowners Or increasing land holdings for the cities and states?  Let see with 1 million you can buy up a lot of property and increase the net worth of the city or state. 

sxc.hu #566365

Do states make laws that affect the homeowners ability to win or lose their foreclosure fight in court? With states benefiting I call these grants a  conflict of interest! 

Many Taxpayers have been denied help that ONLY extends the loan - now THEIR tax dollars are being used to help fund recovery for the aftermath of the foreclosure frenzy. Is there any end in sight? Where is help for the drowning underwater Americans? 

alll images creative commons, public domain or sxc.hu.

Changes in the Foreclosure Market: Are you ready

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PROFESSIONAL PREDICT FUTURE FORECLOSURES

Life just has a way of taking things and mixing them all up. Things are still crazy but the learning experience is incredible. Yesterday I talked to a forensic auditor that I had not met before. We talked a lot and shared experiences. Result is that I have a new opportunity to share information with people and learn more.

What is very apparent from each professional I speak with is that this is not coming to a halt anytime soon. I have reported previously of the millions that will be foreclosed on in next year or so. This professional said that there is an estimated 50 million foreclosures expected over the next (3) three years. Will you be next? I am looking for sources and reports on that. A few of my posts previous this one touch on the results and predictions of the foreclosure market. Do you think the financial genius Warren Buffett had it right when he talked with Obama? Leave a comment!

TRENDS

The NUMBER ONE THING that was reinforced from all I have learned both online and in local meetings, is that if you are going to fight your battles, you have to STAY ON TOP of things. Everything changes, from attitudes and methods, to strategies and effective documentation. What worked last year in legal battles may not work this year. In fact relying on "Show Me The Note" is not as useful a question as it used to be. Sending your bank a "Qualified Written Request" used to take a 1-3 months and now is taking 1 year or more if you receive it at all. I know this is not earth shattering news but it was reinforced over and over. Get support group, stay current and employ professionals whenever possible.

GET IT TOGETHER

We have seen locally as judges and lawyers change their strategies and responses to legal complaints. Banks have changed their strategies also - and as our local "gurus" say - get your stuff together NOW. Get all your documents together, record any crimes, get a forensic document examination, consider strategy and start saving your bucks to fight with help if needed. Learn your local laws. If you need templates there are free examples on our mortgage-challenge group or on Matt's Blog

With that in mind I will try to get more timelines and steps together for you. Meanwhile good-luck and if you are fighting for your home as we are, leave a comment... we would love to hear from you.

Shirley Temple - Be Optimistic (2)

Many, like in this USA TODAY article, are comparing today's situation with the GREAT DEPRESSION. In the 1930's with the GREAT depression : long food lines, homeless, scarce jobs - THEY HAD SHIRLEY TEMPLE TO HELP PULL THEM OUT OF PERSONAL DEPRESSION... DO YOU THINK IT WILL HELP TODAY??????

And here is one more to lift your spirits.. .Bill Bojangles one of the greatest

Guest bloggers welcome! contact me at alrady40@yahoo.com

1 MILLION homes will be foreclosed on; are you next?

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Heard on the news today: We are on target to foreclose on 1 MILLION homes this year. That is 100,000 more than last year. (2009) It is estimated that it will take 3 years to clear the backlog of people defaulting on their loans.

According to the MSN Money Central report there are about 7.3 million homes in some state of delinquency.... the report also noted:

"Among states, Nevada posted the highest foreclosure rate in the first half of the year. One in every 17 households there received a foreclosure notice. However, foreclosures there are down 6 percent from a year earlier.

Arizona, Florida, California and Utah were next among states with the highest foreclosure rates. Rounding out the top 10 were Georgia, Michigan, Idaho, Illinois and Colorado."

There are new credit laws going into place which affect mortgages and also debit credit processing. Here a couple of highlights.

1) Now strict standards were in place during the years when underwriters started ignoring their own underwriting standards. They overvalued homes by 10% which added fuel to the fire of the housing market bubble.

NOW it is announced that there will be stricter standards and that better attention will be paid to income/payment ratios. One good thing will be better disclosures of what the maximum payment will be. Not just the interest, but the payment.

2) Merchants can now offer cash discounts for cash... Banking fees will be going up as free checking and cashback rewards disappear.

3) Banks will not be allowed to charge overdraft fees without your permission and agreement to do so. Sounds good especially if you were zapped by a bank that charges 8 bucks a day until the overdraft is resolved. I don't know how this new law will work out, but if banks handle it as they do other applications, they will simply make you agree in your contract, or you won't be able to get an account... What do you think?

Finding a new home in 2 days: The best laid plans of mice and men

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WHAT ARE THE POSSIBILITIES?

Well in our sketchy reasoning our plan A for moving fell apart last 2 weeks ago and last week it became apparent that plan A is DEAD. Other opportunities have opened up. We called realtor representing the assert management team and asked about if someone were to buy our house, as is, and allow us to rent it - would they go for it?????? WE looked at what is available in the area for low cost and WOW, everything from bad location (next to the nuke plant) to needing a complete re-gut and remodel. Our friends house sold in record time (about 1 year less than most) The bank had it very low priced and the neighbor who bought their home has bought almost every property on their street. Who wouldn't buy 5 acres with orange trees and a decent sized house for about 100K?????

The last house we looked at needed kitchen, some mold removal work, new walls in some rooms, and new fencing and total repaint. Almost all windows need repaned. WE didn't get to see bathroom andI suspect the fireplace is filled with squirrels or birds. WE didnt' get to GO inside to check the house out thoroughly. It sounds like an adventure but is overpriced by about 50K or more. Without time to investigate more we wonder about the property - who knows if there are termites or worse??? Looks like ex-drug dealers lived there or land squatters. Hey maybe the bank would sell it to us for 2 thousand. Or pay us to live there for 1 year. HAHA

WHERE WILL YOU LIVE?

My friend is helping sort emotions and the denial is common for people like me, confronted with being forced to leave and the decisions it entails. If you move because of a job the choices are less. Here is is... can we pay this? Can we resell it? Is it close enough for schooling? Can we take dogs? Not fun choices and each one complicated by other scenarios. It is more than the brain can cope with, while working, fighting legal battles and trying to make sense of life.

For those wondering, we are looking for cheapest place we can find, so that payments are next to nothing. No we can't buy it.... 4closure kind of wrecks the credit. :) I will try to get pictures of some places available by banks in the low cost range on my next post so you can see what is available for those whose relatives or friends can try to help. Remember renting through normal channels is not necessarily an option. Plus we have dogs... at least we have dogs for now. Wanting to find a place to live that is temporary is harder than finding the place you want to live in for 5 or more years!

EFFECTS ON SOCIETY

It seems there is lots of land squatting going on around town. On some properties the fencing is complete and secure, but on others it is apparently not cared for at all and fencing is down in places, if not completely destroyed. Meanwhile we found out that the deputy that handles all evictions has been on the job for a long time and LOVES his work. Looking at all the houses that have set empty in our 10 mile radius - I wonder how someone loves creating houses that attract vandals and teenage party spots. No wonder there are radio ads that encourage parents to teach kids that going into vacant houses is not acceptable.

I CAN SEE CLEARLY NOW ....

WE are looking around our place with new eyes as too "why" we ever wanted to pay high payments and stay in our home .... and I know why..... even over priced by 3-4 x the value, we built this from scratch. We picked out the land and had semi-custom build on it. WE have cared for it, spent hundreds if not thousands of dollars for fencing, curtains, landscaping and such.

That was back in better days income wise and the property values were low because it was waaaaaaaaaaaay out of town. WE made the unfortunate error of responding to refinance pleas by loan people to help build our business and buy other property. We had never in our lives refinanced before. BIG MISTAKE. Hindsight is 100% clearer as to path choices. Even still if the economy had held up our business would not have been impacted and we would still be okay.

We are still fighting for our home, but resigned to possibility we may have to move more permanently and not just move out temporarily. The court process is likely to take more than 1 year.

Foreclosures affect YOU : Upside down in your home?

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I ran across this interesting blogpost about how homes are increasingly going underwater in value. Basically showing the rise in foreclosures about 35%. It also estimated that home values will FALL with this glut of foreclosed homes on the market. More and more people will be stuck without the ability to sell their home to get out from under the loan.

Check out the post 23% of Homes Underwater and let me know what you think! I just heard from a friend that came home to a note on the door... isn't that sweet? Scroll down again to that video of the telphone call to BOA (BANK OF AMERICA) about HAMP (GOVERNMENT PROGRAM) ... This home help program could have helped her, BUT it was a loan owned by one of the major players that won't play ball fair and square. Call your senators!

So in exchange for the bailout supposedly helping homeowners we get:

FEW LOAN MODS

INCREASINGLY LOWERED PROPERTY VALUES

MORE HOMEOWNERS FACING FORECLOSURE

UPROOTED FAMILIES

DETERIORATING NEIGHBORHOODS

THIS AFFECTS EVERYONE