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Primer: What Is a Wrongful Foreclosure?

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A foreclosure sign in Rio Vista, Calif. (Justin Sullivan/Getty Images)

The issue at the center of the foreclosure scandal isn’t the use of robo-signers and shortcuts in paperwork: It’s whether the banks’ mistakes and lack of due diligence caused people to face wrongful foreclosures.

Banks have denied that this has happened, saying, “We are confident that processing errors did not result in any inappropriate foreclosures.” Foreclosure defense attorneys, however, say that wrongful foreclosures not only happen, they’re widespread. This disagreement comes down to what constitutes a wrongful foreclosure.

Here’s our attempt to break through the rhetoric and lay out the arguments:

1) Homeowners were not in default but faced foreclosure.

Most everyone agrees it’s wrong for banks to foreclose on someone who isn’t behind on a mortgage or has even paid off a mortgage. Homeowners in both these scenarios have faced foreclosure actions due to processing errors—often involving miscommunication between lenders, servicers, title insurers, foreclosure law firms and other bank contractors. In many of these cases, banks have apologized for such errors.

2) Homeowners who were told that to be eligible for a loan modification, they needed to fall behind on their mortgage—and subsequently found themselves on the path to foreclosure.

It’s not uncommon for banks to give this kind of advice to homeowners who were at the time current on their mortgage but were seeking a modification. In a survey we conducted in August, nearly half of the 373 homeowners who responded told us that their mortgage servicer incorrectly told them that they had to stop making mortgage payments in order to qualify for a loan modification.

This has led some homeowners across the country down a path to foreclosure. Several have lost their homes—or come very close—because the bank instructed them to default and then foreclosed, according to reports by Courthouse News Service.

One Colorado Springs, Colo., family, seeing a drop in business income, sought a loan modification and was told by GMAC Mortgage that to qualify they had to miss two mortgage payments, reported the Denver Post. When they took that advice and were rejected for the modification, they tried to catch up on what they owed in order to avoid foreclosure, but by that time their debt had increased because of additional fees.

3) Homeowners were behind on their mortgage but could have caught up if not for additional fees.

In a speech this month, Federal Reserve Governor Sarah Bloom Raskin criticized the mortgage servicing industry for using a “Pandora’s Box of predatory tactics” including “the padding of fees, such as late fees, broker-price opinions, inspection fees, attorney’s fees, and other fees.” (The Federal Trade Commission has a consumer fact sheet on its website that urges homeowners to “read your billing statements carefully to make sure that any fees the servicer charges are legitimate” and to ask for itemizations and explanations when needed.)

Raskin also mentioned servicers’ practice of taking out overpriced forced-place insurance policies and the “strategic misapplication of payments”—whereby homeowners’ payments for the mortgage principal and interest were first applied to pay fees and insurance premiums, triggering default or precipitating foreclosure on the mortgage principal.

In light of these problems, some state judges presiding over foreclosure cases have begun asking banks and the law firms they hire to justify the thousand-dollar fees they’ve charged to homeowners. From a piece in the Tampa Tribune:

"Routinely, routinely, I'm seeing charges of $1,600, $1,800, $1,000, $800, any of those are ridiculous, and there had better be a good reason for it," [Pasco County Circuit Judge Susan] Gardner said, noting that these fees should typically be $45 to a couple hundred bucks.

Banks deny that they maximize profits by capitalizing on fees, but legal services attorney Diane Thompson of the National Consumer Law Center told lawmakers last week that the fees are responsible for triggering foreclosure in about half the cases she’s seen.

4) Mistaken foreclosures due to dual track of foreclosure and loan modification processing.

Banks aren’t supposed to foreclose on homeowners until they’ve exhausted all available loss mitigation options. But foreclosures and loan modifications being processed simultaneously by different divisions within the bank can cause many struggling homeowners awaiting approval for a loan modification to be foreclosed on first.

Here’s what we reported in May about one homeowner who was waiting to hear back about her application for a loan modification:

She was still waiting in March when a realtor, representing the new owner of her home, showed up. Her house had sold at auction — for less than half of what Gomez owed. “They don’t give you an opportunity,” she said. “They just go and do it with no warning.”

It’s not supposed to work that way. Under the federal program, which requires servicers to follow a set of guidelines for modifications, servicers must give borrowers a written denial before foreclosing.

When Gomez called Bank of America about the sale, she said she was told there was a mistake but nothing could be done. She did get a denial notice— some three weeks after the house was sold and just days before she was evicted.

In October, the Wall Street Journal told the story of a couple who had been granted a loan modification by their servicer, JPMorgan Chase, only to receive notice that Chase had foreclosed anyway. The bank said it had made a mistake.

In a hearing last week, lawmakers, legal experts and banks all agreed that in cases in which loan modifications can both help homeowners and produce higher returns for investors, they should be granted. Failure to do so, said Alan White, an associate law professor at Valparaiso University School of Law, is just as wrong as foreclosing on someone who isn’t behind on the mortgage.

5) Foreclosures in which the bank can’t prove it has standing to foreclose.

Even in cases in which homeowners are clearly in default for reasons unrelated to servicer actions, legal experts have argued that it doesn’t mean just anyone can swoop in and take away the defaulted homeowners’ property—it has to be the person to whom the debt is owed or someone acting on behalf of the mortgage owner. And when a loan has changed hands numerous times in the securitization process, banks have had a hard time proving standing and producing the documents necessary to enforce a foreclosure.

In a 2007 analysis of bankruptcy mortgage claims, University of Iowa law professor Katherine Porter found that about 40 percent of the time, banks didn’t provide the proper paperwork—specifically, the note—to enforce a mortgage claim and collect the debt. She wrote that the statistic was “troubling” and a threat to the “integrity of the bankruptcy system.”

Many foreclosure defense attorneys argue similarly about banks’ failure to produce the same paperwork when enforcing foreclosures. To this point, an official from the Florida Bankers Association told the Jacksonville Business Journal that foreclosure defense attorneys are taking advantage of legal technicalities, and delinquent homeowners shouldn’t escape consequences simply because there were mistakes in the transfer of mortgage paperwork.

Despite the debates elsewhere, many legal experts seem to agree: The so-called technicalities go to the heart of the American system of law and property rights. To argue otherwise, testified Georgetown University associate law professor Adam Levitin, would be to “claim that rule of law should yield to banks’ convenience [PDF].” 

Inform our investigations: Do you have information or expertise relevant to this story? Help us and journalists around the country by sharing your stories and experiences.

My bank has violated at least two of these. But what is the recourse?

The road to fewer losses, more fees, and less write-downs for the banks and servicers, is paved with foreclosures.  Therefore, if you assume the industry has little moral integrity, which it has displayed brilliantly, the mandate would be - foreclose now and ask questions later.  Any erroneous mistakes can then be hidden under the guise of “the system is back logged…there was a processing error…the proper documents were not received…etc., etc….”  What’s the worst that can happen, a slap on the wrist?  They system has made the choice easy for them.

thanks for laying this out. and for refuting the common (banker-felon promoted) line that deadbeats are merely quibbling about arcane points. and also that they conive for “free houses” as they wade through paperwork, seizing on minor technical issues as equivalent to their loan obligations.
that’s false.
one request: hope you amplify at some point *why* the homeowner has to be proven to be benefitting the *investors?* why is the homeowner’s contract to buy and finance the property simply assumed to be a secondary concern to the investors? investors whom the homeowner likely knew nothing about when the papers were signed?
will these investors profit from the flip, insurance reimbursement and (if obtained) “deficiency” lawsuit? if so, aren’t we all dead meat on the hook, powerless to stop the seizures?
banks that figurered out how to trade, slice and dice these mortgages are *only* indebted to the investors, and not obligated to put the homeowner on the same footing??
what’s up with that?

acmodspecialists

Nov. 24, 2010, 3:27 p.m.

The solutions:
1 Take the Making Home Affordable Program out of the hands of the Banksters and the Servicer’s and give it to an independent agency that can be Fair and Balance to handle the program
2- End once and for all the dual tracking systems that the banks are using and while they are processing a modification they are foreclosing on your home this dual tracking system has to end
3- Regulate, Oversight the foreclosures, Banks have to proof they have the right to foreclosure , so they don’t FRAUD-CLOUSE, make sure that the homeowners really owes what the banks are stating that they owed (we all know that the Banksters just charge all kinds of fees as they wish without oversight for all i know that can be making all of these charge out of the blue
God help us !

This is a total disgrace the banks are well aware that they will not be held accountable ,This system will be with us for a very long time , the concerns of the government is not the wellbeing of the owners or the rule of law to the powers that be the courts, public officials, there only desire is to enable the banks to do what ever they wants . Remember this administration has not fined a single bank for all the crap they have done , the banks are the chosen ones ,only a large class action can get their attention.

Great Article and proof that banks are Above the Law.

After watching this video I wonder:
Our legal system and it’s double standard will demolish trust in the United States Law?

4closurefraud.org/2010/11/24/another-bombshell-interview-matt-taibbi-and-chris-hayes-discuss-foreclosure-crisis/

Great Article and proof that banks are Above the Law.

After watching this video I wonder:
Our legal system and it’s double standard will demolish trust in the United States Law?

http://www.youtube.com/watch?v=Q-J2Mj_XzQU&feature=youtube_gdata_player

Shawn Mcsorley

Nov. 24, 2010, 9:02 p.m.

Thanks for the input neighbors !!!  I am 46 years old,
owned my house since Nov. 1998 . Raised my Son in it and have Raised some Beatiful Gardens that i Shared with my Neighbors ...  I am in Foreclosure /
Bankruptcy .  I am ashamed to say that i have worked
in the Civil Surveying and Engineering Business since
  1997 and Contributed through my employer to build
  the $150,000.00 houses that the Co. i worked for

  Processed the Final Mortgage Survey to the Builder or Bank So Happy Homeowner could Buy The
  ” New House for $385,000.00 +/-  I was Scratching
  my Head wondering Where these People Worked ? 
  man sakes, is everyone Wealthy ???  Nope ! Thanks for the heads up Neighbors !!! I am being sued
  by Freddie Mac !  Got our tax Dollars ! Maybe A Hedge Against What Social Security Fund is Left ???
  I Watched A Govenor Get Bought and Payed For By the Cheeseball Developers That are in the New Design for my state Proposed Non - Profit Management of the State Contstruction Dept.  Ouch ,

  Business as Usual !!!  Remember Fight Club !  We
  do your Dry Cleaning , Your Landscaping ,  Cater your Parties ....  Wow A Mortgage Cover-Up Or
  Overlook By The Judges ???  Go Figure !!!

  Who do you think Entertaines our Judges ? Ut Oh !

  I’ll shut up Now ! Please let me Know More Detail
  About the so Called Filing Technicalities !!! Thanks
      Shawn Mc.  Happy Thanksgiving ! 
  From President Lincoln   in   1863 !! Holiday Trivia !

Happy Thanksgiving.

Maybe many of you have seen this but those who didn’t
and want to know. How Wall Street ripped off Main Street with Goldman Sachs on the front watch this.
No wonder Blankfein CEO of Goldman can make
$ 67.5 Million dollar salary in one year,while children in America go hungry, and millions of families become homeless.

What I don’t understand is why the American people just standing as an observer and doing nothing such as protesting or revolting against this mayhem.
If we don’t do something about this 10 % of America will be homeless.
Wake up people of America, and end this corrupted system.

This is a 4 part video.

http://www.youtube.com/watch?v=ulnzj3arCQI

http://www.youtube.com/watch?feature=iv&annotation_id=annotation_307258&v=PCE5c5OaSjY

http://www.youtube.com/watch?feature=iv&annotation_id=annotation_189758&v=hIZG75noUtI

http://www.youtube.com/watch?feature=iv&v=kIEpuFyNm1w&annotation_id=annotation_925528

acmodspecialists

Nov. 24, 2010, 9:40 p.m.

More solutions part 2
1-Replace Bank regulators
2-End Cops for crooks (change the heads of the regulatory agencies)
3- End Banks to Big to Fail (brake them up)
4-End the Trillions to Fanne & Freddie to cover up the Banks
5-Fire Eric Holder
6-Fire Geitner
7-Fire Bernanke
8- Fire all the heads of the Fed that used to work for Goldman “Sucks” (many working at the fed)
9- Call your congressman (demand that they stop this fraud)
10-Write to W.H (demand the same)
This crisis is all about fraud, Please for god sakes get people in that will enforce the rule of Law

Please let me know if any of you have nay more solutions and lets put them all toguether

acmodspecialists; The problem is that Congressional representatives have been told ” they have no right to interfare with this issue. Believe it or not my Congressman’s office told me this. In fact the ethic committee got on their case and told congressional representatives to back off.

Have you watched the above videos? Great story.

The only solution is to start a revolution. But people are to busy to get out. In this country only the Illegal aliens are the ones who are goung out and protest. That is why our government don’t deport them. Our government is affraid of the illegals.
While US citizens are affraid of the government, and that is why our government is pushing them.
Do you remeber when 500 000 illegals protested in Los Angeles? So the government stopped deportation. see the picture yourself. If 500.000 homeowners would protest than banks would stop pushing people out of their homes.

When this many homeowners will show up then maybe we have a chance until then many people will be kicked out of their homes.

http://www.msnbc.msn.com/id/11442705/ns/politics

all Right, I am trying to get in the Holiday Spirit and
  Just fixed my Double Deviled Eggs ” Minced Jalapeno’s dried out of My Garden This Season ” Checked with Brother Dan , He Said do A Dozen for He and I , The the Rest Shawnees Mild Double Devils.
  anyway, I’m trying not to be a downer Before My Fav!
  Dinner of the Year ” Next to Easter ”

      8   Phases of A Republic / Democracy !!!
 
Throughout History the average life Span is 200 Yr’s.

  ”  From My Over + Intelligent Stepdad ”  Looked up

  or saw A Thesis from 1700 +/- Scholar On Republics
 
  Phase 1 Very Simplified !!!
 
  1 } A Group of people can move from Bondage to
      Spiritual Faith ...

  2 }  Then with Faith and Trust of each Other Move
        From Faith to Courage Amongst Them !

  3 }  With Courage as A Community they Grow with
      Courage to Liberty !!!

  4 } With liberty and Organization they move on to

              ” Abundance ”  Still need Humility not
              ” Arrogence ”  Ooops Mortal Humans !

  5 } Abundance Leads to Compacency !  Ooops !

  6 } Complacency Leads to Our Apathy !  Ooops !
 
  7 } Apathy   Leads To Dependance ! Ooops !

  8 }  Dependance Right Back To ” Bondage ”

  We The People Finally Realize our Entrusted /
  Elected Officials Have their Hands in our Till and
  Have Been Working It ( The Tax Payer ) For over

        50 Yrs. !!!  I Had Some Wonderful Insightful

    People in my Life Share Their Wisdom !!!  I Did
  Listen ... I Don’t Have the Answers But I Sure Have
  Many More Questions And hope the Greedy

  Entrenched   Arrogence Of The Representatives of

    Our Country are not Sinking Our Ship To Drive Their

      Mercedes or BMW !!!  Status Scraped off My

    Back ??????  I Don’t Think So !!! Shawn Mc.

When angry homeowners can get organized like these people than foreclosures will stop.
If these people could get what they wanted by protesting, why can’t homeowners do the same?

Wake up America and let your government hear you.

http://www.youtube.com/watch?v=3BzV3Y7hvKo&NR=1[/url]

acmodspecialists

Nov. 24, 2010, 10:44 p.m.

Garor you are right but then again how do we organize something like this? i’m all for it But we will need the media

Civil solutions would be Great !!! I really want to watch what i say ” Don’t want A Late night Knock at my Door ” 
 
  How about Reviewing Where our tax dollars have Gone ???  I am 46 and payed Taxes from 14 Yr’s old
  to 45 + / -  Yr’s.  I Vow To Have A Say In Where my
  Tax Dollars are Going Before I Pay Any More !!! 

      What Does Everyone Else Think ???

    To Qualify :  I Have Never Voted in My Life and Never Will unless It’s For my New Village Sheriff That I
Have Known for 30 Yr’s as My Neighbor !!!!!!!  1 Bullet

    Can You Say The Independent States Of

        America ???  !!!  Sure ,  I Know You Can !!!

  Sincerely Shawn,  Lets Publish Our Local , Civil &
    State &  Federal Lawmakers Payed off Bill Passers ,  Local , civil & State & Federal Judges

    Home Addresses !!!  Hold Everyone Accountable

  Have Neighborhood Members Be the Judges of any

  of their Rubber Stamp Judgements and then Dig

  Deeper and find out what Favors They Shoveled out

  to Their   ”  Bribing ”  Buddies and how their Children and Grand Children Benefited From their

  Favoratism !!!!!!!  What are there Addresses ??? 

  The Children and Grand Children Of our Entrenched

  Lawpassers ???????  O.K. I Said I Had More Questions ???  Where   Is Our   Money ?????????

The Problem could be that once we start “And We

      Have Started ” Asking pointed Questions, that is
 
    Just going to lead to more Interesting Questions that

  our Lawmakers , Special interest “Money Groups”

  Representatives, Senators, Judges ”  that are entrusted to Uphold the Legal Law ”  Lawyers ,  Ex -
  Lehman Brothers Now Govenor Guys Would Rather

  Probably Throw Bullets at us Than Have To Explain

  THe Honest Answers !!!!  ”  Truth ” 

    Hence ” The Demise of Another Democracy ”

    But Surely Dorks,  ” Ride that Horse Till It Dies ” 
 
    So Lets ask More Questions and Post More Cell

  & Home Numbers and addresses Of all our Gov.mnt’s   Homes ” How ever many ” And ” Wherever

  They May Be and as they appear Randomly By

  True American Citizens Posted on the Internet Then

    The Closer we Get To Honesty !!!  Some of our

  Govenors, Lawmakers “Proposers"Judges “Passers”  Rich

  Campaign Donaters !!! Lets not Forget anyone that

  we can track to Proffiting off of the tax payers Sweat

  It is Pretty Simple !!!  We all Know in our own Comm.

  Who the Suspected Abusers of Power Are, The Kinivers !!!  Really,  We Build there Additions,  we wash there Cars !  Clean There Houses !!!  Really,
 
  How Hard is it to Hold Greedy,Lying Dorks Accountable !!!!!!~!!!!!!!!!    Yeh Baby !

A lot of the folks, including my childrens mother, havent paid their mortgage for years…she gets the child support and has not mortgage….and the banks dont do anything.  One of my friends did not pay for four years and now he wants to buy a house in the neighborhood for cash…...prices have gone down enough and so he can do it…..Somehow that does not sound right either to us who do pay our mortgage…..I wonder what the commenters think.

Crisp and timely little piece.  Now get wise.  Wall St, the big banks, and the Fed DON’T CARE about individual home mortgage loans that go delinquent or individual foreclosures.  The big boys are fixated on AGGREGATES - exposure, risk, cost.  It’s coming to a head in $ Hundreds of Billions of sliced/diced/tranched MBS’s that were misrepresented at issue/sale to Fannie & Freddie, pension trusts, bond insurers, life & P/C insurers, domestic and foreign institutional and ordinary investors.  They’ll have to be bought back at or near par.  What do you think the new QE2 cash being pumped into the banks is about?  It ain’t about making loans, I promise.  It’s about forbearance and another bailout (stealth) of Wall St.  Many more banks won’t get a bailout and will still fail and the FDIC-type authorities will end up with the bad loans needing to be foreclosed and collected.  That means the taxpayer.  It also means home resale prices will plummet further.  So it’s in the interest of politicians and federal bureaucrats to get as many delinquent loans foreclosed and the collateral recovered as quickly as possible.  If that means Congress has to get back into it and pass a law that says we’ll ignore technical and paperwork defects that frustrate getting foreclosures and land titles cleared through State courts and Bankruptcy courts, it’ll be done.  Wall St will be saved again.  It’ll become a historic opportunity for offshore $$$ and foreign $$$ to gobble up U.S. real estate and political influence cheap.

It is more than disingenuous for banks to claim that attorneys “take advantage of technicalities”; it is criminal!  Especially since these same banks have homeowners scurry madly for the most obscure, redundant and yes, “technical” documents for presentation whenever ANY transaction THEY claim requires accuracy in order to proceed with is missing “technical” documentation…that’s what “closing” day is ALL about - crossing the “tees” and dotting the “eyes”...that’s why attorneys are requisite to begin with - the accuracy and legitimacy of “technical” paperwork! 

I have to conclude that banks think themselves above and beyond the rule of law when they state that the documentation of people shelling out money to them becomes mere “technicality” when being foreclosed…while for them who really do nothing but rack in the questionable profits and yes, shuffle technical paperwork - these same documents are crucial and imperative throughout the entire mortgaging process!

Brian if you say that “So it’s in the interest of politicians and federal bureaucrats to get as many delinquent loans foreclosed and the collateral recovered as quickly as possible” Then, who in the right mind will be willing to buy a home anymore? when you know that any Bank can Fraud-Closuse in your home and property rights can be violated by the Banks without any accountability?
Property rights are the core of the capitalism and the core of the american freedom, and at this moment are being violated every day by the banks with their robo-signing falsification of affidavits, an,d on and on. Somebody has to stand up to these banksters !

I’m going to recommend you to see Inside Job movie-documentary its in many theaters now

I Have been A Golf Caddie on Weekends From 1991
  to spring 2007 ( When the surveying Co. I worked For
Had to take out Loans to Make Payroll ) Ouch !!!
  I Became Full time Caddie “full time” Spring 2007.
  It is Amazing How Many Big Dollar Attorneys
  Entertain Judges For 18 Holes and Lunch & Drinks !

  Mmmmm….  Wonder Why ???? 
 
  The new Govenor of my State I Have Known and Been in Groups With For 18 holes For 15 Years or More !!! My new Gov. Is the 2nd. on My list of Biggest
Cheaters against his Buddies in Golf When he Was
Invited and didn’t Have to Pay Shit !!!  In 19 Yrs. 2nd!

      Some people Like ” Hitler ” Take Pride in their
  Ability To Fool The People ” Sheeple ” As My Step
  Dad Would Say !
 
  I think We Really have to Ask How much Longer are
We Going to Have our heads Burried in the Sand ???

  Just Woke up from My Turkey Knap, Hope I Don’t
  Seem Grumpy !  Brother Dan Put Sliced Apples in
  the Turkey, It Was Excellent ! 

    Anyway, I have seen The Backside ” 10 % ” Of the
  wealthy in our Country and Have seen the way the
  Deals Get done and How Much Bread Really gets
    Buttered On The Sly !!! Makes Me Sick !!!

  I Guess our Gov’t. Deregulated the Banking Industry
  To Set the Current Crash Up !! So Back to Our Gov’t.

    Ouch !  Black Eye !!!  2 Questions . Not even Relevant What they Are ( Besides, Where’s Our Money )   

  If a Mans Mouth and Words Do Not Match Their Body Language Hook Em Up Behind The Truck and
  Drag them For a Block or 2 and Get out And ask Again !!! Pretty sure With Weasles Like these Within
1 Mile they Will Tell the truth !!!!!!!  Politicians !!!

  To Much Smoke and Mirrors For Me !  Fat Cats !
 
  Where is our Social Security Money ?????

  Been Paying into it since I was 14 !  Can’t I Cash that
  and Buy My House ????? Oh ! Fat Cat , It’s not there ?    Ouch !!!  Seems like Quite a Bit of
 
        ” Mismanagement ”  ? Understatement !!!!!

            Deceit ?  More Like It !!!!! Lied to and Cheated By Those we Thought we Could Trust for A
  Long time !!!    Lets do Something Different !

  Hope All had A Great Day !!! Sincerely Shawn ! 
 
  Guess I’ll go live off the land in one of our State Parks.  We payed our tax dollars to Keep it !
  I don’t want to Pave it !  We Have spent A Ton or
two of our tax Dollars to Keep them there for The People.

  ” We the People ”  What Does that mean if “WE”
  Don’t Speak up Together !!! 

  How would our Fore-Fathers Have looked at the Webs our Gov’t. Has Weaved For So Long to Get
  Where We are at Today ??????? Shoot Liars &
  Thieves is Probably What They Might Say !!!

  Actually The Poloticians and Bankers Could
  Actually be Labelled   ” Traitors ” To Citizens !

    Attorneys Fall in to My Catagory of Fish Bait !

    Some Atty’s. Do Good, Very Few ! 
    I Am an open Minded Fair Man !!!!!!! 
 
  Would someone E-back and let me Know what
  Particular Errors & Omitions I am looking for On

  Freddie Macs Foreclosure Docs. 
 
  Thanks for Everyones Input !!! Shawn

I Have been A Golf Caddie on Weekends From 1991
  to spring 2007 ( When the surveying Co. I worked For
Had to take out Loans to Make Payroll ) Ouch !!!
  I Became Full time Caddie “full time” Spring 2007.
  It is Amazing How Many Big Dollar Attorneys
  Entertain Judges For 18 Holes and Lunch & Drinks !

  Mmmmm….  Wonder Why ???? 
 
  The new Govenor of my State I Have Known and Been in Groups With For 18 holes For 15 Years or More !!! My new Gov. Is the 2nd. on My list of Biggest
Cheaters against his Buddies in Golf When he Was
Invited and didn’t Have to Pay Shit !!!  In 19 Yrs. 2nd!

      Some people Like ” Hitler ” Take Pride in their
  Ability To Fool The People ” Sheeple ” As My Step
  Dad Would Say !
 
  I think We Really have to Ask How much Longer are
We Going to Have our heads Burried in the Sand ???

  Just Woke up from My Turkey Knap, Hope I Don’t
  Seem Grumpy !  Brother Dan Put Sliced Apples in
  the Turkey, It Was Excellent ! 

    Anyway, I have seen The Backside ” 10 % ” Of the
  wealthy in our Country and Have seen the way the
  Deals Get done and How Much Bread Really gets
    Buttered On The Sly !!! Makes Me Sick !!!

  I Guess our Gov’t. Deregulated the Banking Industry
  To Set the Current Crash Up !! So Back to Our Gov’t.

    Ouch !  Black Eye !!!  2 Questions . Not even Relevant What they Are ( Besides, Where’s Our Money )   

  If a Mans Mouth and Words Do Not Match Their Body Language Hook Em Up Behind The Truck and
  Drag them For a Block or 2 and Get out And ask Again !!! Pretty sure With Weasles Like these Within
1 Mile they Will Tell the truth !!!!!!!  Politicians !!!

  To Much Smoke and Mirrors For Me !  Fat Cats !
 
  Where is our Social Security Money ?????

  Been Paying into it since I was 14 !  Can’t I Cash that
  and Buy My House ????? Oh ! Fat Cat , It’s not there ?    Ouch !!!  Seems like Quite a Bit of
 
        ” Mismanagement ”  ? Understatement !!!!!

            Deceit ?  More Like It !!!!! Lied to and Cheated By Those we Thought we Could Trust for A
  Long time !!!    Lets do Something Different !

  Hope All had A Great Day !!! Sincerely Shawn ! 
 
  Guess I’ll go live off the land in one of our State Parks.  We payed our tax dollars to Keep it !
  I don’t want to Pave it !  We Have spent A Ton or
two of our tax Dollars to Keep them there for The People.

  ” We the People ”  What Does that mean if “WE”
  Don’t Speak up Together !!! 

  How would our Fore-Fathers Have looked at the Webs our Gov’t. Has Weaved For So Long to Get
  Where We are at Today ??????? Shoot Liars &
  Thieves is Probably What They Might Say !!!

  Actually The Poloticians and Bankers Could
  Actually be Labelled   ” Traitors ” To Citizens !

    Attorneys Fall in to My Catagory of Fish Bait !

    Some Atty’s. Do Good, Very Few ! 
    I Am an open Minded Fair Man !!!!!!! 
 
  Would someone E-back and let me Know what
Particular Errors and Omitions I am looking for in My

  Foreclosure Docs. From Freddie Mac !!!

Banks have been deliberately stealing homes through FALSE foreclosures for decades.  They do this primarily to flip, pile on bogus legal fees, and then falsify the selling price after the property is flipped so the victim receives minimal equity returned.

Happened to me, my payments were current, and when I told the manager of Guaranty Bank I knew exactly what they were up to, his response was “There’s nothing you can do about it”.  To which I responded, “I can sue”.  His response?:  “Don’t do that, it’ll just cost you more money”.  He was right.

I sued, went to court with all the proof one could have, copies of all payments made, bank’s records showing loan was current and monies had been overcollected, false credit reports and everything, and the the judge never looked at any of it and ruled “It’s your own damned fault”, slapping ME with a judgement for $80k for the bank’s legal defense!!!!!!!!!!!!!!!!!!!!!!!!!

I subsequently filed a complaint with the FTC, who then promptly investigated the bank and issued a Cease and Desist Order.  You can find it on line.

Wow Stephen You have shown some crazy Insight and
  Unbelievable Restraint !  Congrats ! Cease and decist I Pray was Directed at the Suit for the Atty. Cost
Directed at you ! Hopefully you Kept your House or Have Recourse !!! 
 
  I Have a Similar Story On a Credit Card I had in 1995
 
    One of the last credit cards I ever Had !!!

  I was Late in 1995 and They Sent the Tardy Notice with A New 21 % Interest ( I didn’t Read The Fine Print ).  I Cut the Card Up and ask them to send Me
What I Owe Without Their 21% Interest and I’ll Settle Up !  They Wouldn’t Do It . I Bulked, They Tacked on
Fines & Penalties and Eventually Sold My Debt !
  I Have all Records of Correspondants with Every Co.
Related To Harrasing me For 1100.00$  Would Have
  Settled 15 Years Ago ! 
        The Debt Was Legally Out of The Statute of Limitations in My state in   March of 2010 When A
  Judge Stamped For The Rogue Collection Co. To
    Yank 4965.00$  From my Savings Acct. 

  I Look the Rogue Collection Co. up on the I-net and
Find out they are Doing it to Our Service Men Abroad
As I Type This !!!!  Complaints Have Been Filed ! ?
  Wherever That Goes ! 

  I looked up Ownership Of Said Rogue Co. and found out He Live in Hyde Park ... /// ...  ///  Yeh Well !

  Aren’t We Supposed to Be able to Face our Accusers I ” In Court ” ????  Not Some Skunk - Ass
  Atty . !! Aren’t We Supposed to at Least Be Invited
    Mr. Judge ?????  To Say Our Truths ! ? ! ? 

    Ouch !!!  This Doesn’t Seem Good !!!
 
  O.k.  Organization of Citizens is Crucial !!! 

    Are we really Close to These Measures ?  If So I’m In !!!  Form our own Group That Supports Us and Goes After These Rogue Judges, Attorneys, Lawmakers in their Front Yard Just Like President Obamas Neighborhood Meetings With the Citizens !!
   
    Simply Formulating Ideas, if Enough Show up On Judge   Sellouts Lawn ,  The Press Will Get Involved !  Then Directly Bring up His Cases and Question him On Every Action or In-action He Did !!!!!!

    Where is   Our Money ???  Politicians ?????

Everyone Watch Some   “John Wayne ” Movies !!!
 
  ” Chisolm ”  Excellent Show of A wealthy Man trying

  To Monopolize a Communty And Control it’s Citizens
 
  When He Bought the General Store, The Bank and

  The Sherrif !!!  Enter   ” Chisolm ”  Big John !!!

acmodspecialists

Nov. 26, 2010, 4:28 p.m.

The banks put the Country and the homeowners in this situation we are now, also I don’t see the banks taking responsibility for anything, They got their bail out, and on top of that, they have received money for the HAMP (modification program) and they still not willing to help the homeowner, as matter of fact they still making millions out of the misery of families losing their homes, by collecting Insurance (AIG Banks bought insurance against that poor middle class family home that does not stand a chance), Please also note the the Banksters designed these loans to crashed, and the only part that the homeowners is guilty of, is of taking the bait , Homeowners should be responsible,  but were are the responsible banks? I don;t see one person in the financials business being prosecuted for the mess they created, not only that but now they are committing FRAUD-CLOSURES? by falsification of documents, affidavits, signatures etc to foreclose on the homeowner? Can you imagine if a homeowner would do that? he will be in jail next day ! but the Bankers are untouchable, you think is fair? some people still think that everything is the responsibility of the homeowner? they were also brainwashed (buy a house now, sell it tomorrow you will make money, tomorrow the home will cost more, etc ) banks did all of that by creating false demand, inflating prices, appraisals, and coming out with loans like stated assets, stated income, interest only, Liar Loans and Negam Loans (negam means the payment was not even the interest of the loan) but not one banker has been prosecuted for all of these, I suggest people to go see the movie documentary Inside Job, I really recommend it, People will have a clear perceptive of what is really going on, please go see it, because it will be too long to explain it all here, get informed

Some solutions are simple:
1st,  Take the whole HAMP, HOPE,  etc modification programs out of the hands of the Servicer’s and Banksters, And give it to and independent agency that can be Fair and balance,
2nd, Stop the dual track system that the banks are using where at the same time that they are processing a modification they are also FRAUD-CLOSINNG in the homeowner
3-Replace Bank regulators
4-End Cops for crooks (change the heads of the regulatory agencies)
5- End Banks to Big to Fail (brake them up)
6-End the Trillions to Fanne & Freddie to cover up the Banks
7-Fire Eric Holder
8-Fire Geitner
7-Fire Bernanke
9- Fire all the heads of the Fed that used to work for Goldman “Sucks” (many of them are working at the fed)
10- Call your congressman (demand that they stop these frauds)
10-Write to W.H (demand the same)

This crisis is all about fraud, and the Bnaksters and Servicer;s committing fraud,  Please for god sakes, get people in the regulatory offices, that will enforce the rule of Law, Property rights are being violated every day.
Let me know if any of you have any more solutions or suggestions lets put them all together and push for them to be implemented

This video is from March 2010. Has anything changed? 8 months later the Banks are still doing the same things to the American people..

When will the corruption stop?
Ask your representatives now.

http://www.youtube.com/watch?v=4IrPOfgWWqg&feature=related

acmodspecialists

Nov. 27, 2010, 2:24 a.m.

Garbor, Unbelievable nothing has change actually its getting worse, and this is since March? all these is in the media why is it that nothing is getting better, or better solutions to save the homeowners? I can find a reasonable explanation of why people is not up in arms (i don’t mean real arms) but protesting all over the place
I saw a lot more protest when healths care reform and is not even close to the extraction of wealth from the middle class and the financial mess we living

acmodspecialist My explanation would be either people are too busy or too lazy. Unfortunately for these two reason is why American dream has been taken away from the middle class and given to the elite.

There is a third reason I think. The American middle class has been driven into fear by the US government. Don’t forget when people are fearful they not saying anything, because they are affraid of the consequences. Just like in Communist Countries.

In Communist countries you have a few who have it all mostly government people,and those who are close to government.    In this case Wall Street.
  The rest is being depressed by those in power. The Government is offering socialized help to the elitist (Banks) but the rest of the people are suffering financially and worrying how to put food on the table while big Bankers and government officials spend money like there is no tomorrow.

This is no Capitalism. In capitalism, if you make a mistake you fall down. In Communism you make a mistake the people will pay, So the Rich can keep their lifestyle.

You know like under the Czar in Russia.
We are the pesents, and Wall Street Fat cats are close to the the Czar .

Banks, Congress Grapple Over Scope of Foreclosure Problem

http://www.youtube.com/watch?v=dNhMQiSc080

Banks, Congress Grapple Over Scope of Foreclosure Problem

http://www.youtube.com/watch?v=dNhMQiSc080

acmodspecialists

Nov. 28, 2010, 12:42 p.m.

Garbor, great post video,

When Obama tried to tip more for the people like heath care etc they call him socialist, nazi etc, but if he goes more socialits for the banks and corporations nobody says anything not one word or complaint why is that? I found this very bizare
In any case here is something good

http://www.change.org/petitions/view/request_for_congressional_foreclosure_panel_to_examine_foreclosure_lawyers

Acmodspecialist: To answer your question it is called DOUBLE STANDARD Just like in California Illegal aliens can drive without drivers license and insurance.

If they get pulled over the police let them go. If an American citizen get pulled over they will get a ticket.

It is ok to be Socialist toward Corporations because the rich get benefit from it.
( I have no problem for someone being rich, as long as they don’t screw little people)

But when the government annonces any Socialist Idea
that would benefit the poor, just look who is complaining the most. RICH REPUBLICANS .  Because they are affraid that maybe soeone else could have a chance to have a better life.

Rich Republicans doesn’t like compitition. They want to rule the world just like Adolph Hitler.

acmodspecialist. Here is a web site for my previous comment.

http://www.huffingtonpost.com/2010/10/13/john-boehner-rich-iott_n_761919.html

acmodspecialists

Nov. 29, 2010, 2:43 a.m.

I looked at your Link and yes i do know about that The republicans are happy about privatizing the gains while socializing the loses, but when is about asocial issue that will benefit the people the people scream about it that what is bizarre, specially when country’s that have a low social services have higher creme rate, The wealth has already been extracted from the middle class to the top 2-5% of the people in this country, now they taking their homes, whats next? Bans are alreay willing to commit fraud in order to foreclouse in so,bodys home
It is incredible that the fed keeps printing money just to satisfy their friends (Goldman,banks etc) while the country gets more in to debt, and they talking about waiting another to years to let taxes expire for the 2-5% while they borrow money from China to pay for them? How about they borrow that money to save millions of families from foreclosure?

acmodspecialists

Nov. 29, 2010, 2:48 a.m.

I looked at your Link and yes i do know about that The republicans are happy about privatizing the gains for the Banks and big corporations while socializing the loses, but when is about asocial issues that will benefit the people the people scream about it that is what is bizarre, specially when countries that have low social services have higher crime rate, The wealth has already been extracted from the middle class to the top 2-5% of the people in this country, now they are taking their homes, whats next? Banks are alreay willing to commit fraud in order to foreclouse in sombodys home
It is incredible that the fed keeps printing money just to satisfy their friends (Goldman,banks etc) while the country gets more in to debt, and they even talking about waiting another 2 years to let taxes expire for the 2-5% while they borrow money from China to pay for them? How about if they instead borrow that money to save millions of families from foreclosure?

Watched cnn-news yesterday Morning . A Neat

Fellow that was one of President Ronald Reagans

Financial Advisors ! Stockman Was His Name .

  Born in 1946. Got Out of politics in 1985 . Worried

with what he has seen go on in our Nation for Quite

  A While, He decided to speak up and Show some

  of our Gov’t's. Math Compared to His ! Based on

What he Knows .  Towards the end of the Interview

  Stockman Tells the Host “He will Buy Whatever

  Bernanke Can’t Destroy ” Announcer Looks over,?

  What do you Mean, ? Stockman says ” Gold,

  Bottled Water, Dried Beans, Flashlight Batteries”

  Then Stockman Seemed to Me to Wisely Pull Up

  Short and Not Say any More Realizing He is On

Natiomal ” Sheeple ” Television !!!  This is a guy

  That Was part of The Reagan Adm. and His Mind

  Set is This ??? Oops More Dried Beans & Dry

  Containers For Me Please ...  Thought I Would

  Share that With you All !!! Peace Neighbors !!!

acmodspecialists

Nov. 29, 2010, 2:52 p.m.

Shawn Yes i did see that interview, and finally someone form the Republican establishment has the balls to speak the true I gees hes is tire of watching his country going down like a snow ball That guy spoke the true
http://www.nytimes.com/2010/08/01/opinion/01stockman.html

Fixing the problem—does that come from state regulation or from federal? Each state has foreclosure and banking laws; the fed has banking regulations. Which agency or agency has the authority to fix these foreclosure problems?

Nissim Sasson

Nov. 29, 2010, 8:01 p.m.

Gonzo Exactly, who can? That is the big question, The President is not doing it The Fed does not want to, The Attorney General does not care, the Republicans forget it! The Tea party they have no idea about what is really going on, some Democrats yes (but only some not enough and now they are the minority)) Apparently no one. Banks have too much power they have 65-70% of the USA’s GDP
The only hope… The American People, if they get inform and protest enough (maybe)

Ok, I’ll be more specific. Foreclosure laws are state laws, and are not uniform among states. Foreclosures are done through county courts and, again, process is not consistent among states. Contract law, title conveyance - state laws. States certainly have authority to set restrictions on “junk fees” charged by servicers on foreclosed properties. So why haven’t they?

Seems to me, without knowing all the details, that state regulatory agencies and legislators really dropped the ball by not opposing the Mortgage Electronic Registration Service (MERS). With that, states gave up income from property transfer fees and failed to protect the law and citizens.

But the lines are blurred, at least from my view. Attorney Levitan (link in the story) urges oversight by federal regulators of foreclosure irregularities. Levitan also states that “While Federal Reserve Chairman Bernanke has announced that federal bank regulators are looking into the issue and will issue a report this month, I do not believe that it is within the ability of federal bank regulators to gauge the extent of procedural defects in
foreclosure cases.” And, “Bank examiners lack the experience or training to evaluate legal documents like foreclosure filings.”

Levitan also notes about junk fees that the US. Trustee’s office took on some cases and the Texas AG took on others.

Overall, there are various state agencies, and federal agencies including but not limited to US Trustee’s Office, FDIC, SEC (securities), Federal Reserve, Treasury Department, and the DoJ who could have their hands in reform and/or correction of foreclosure problems.

From where I sit, states should have stepped up to resolve junk fees and improper/fraudulent documents, and demand paper-filed changes of title (and so *what* if that slowed the process). But for all the states’ resistance to Fed interference, the states lacked the resolve and possibly the wherewithal—money, knowledge, personnel—to act on their own.

Nissim Sassion

Nov. 29, 2010, 10:43 p.m.

gonzo, I see your point, Its much to the States to fix much of it, Now the question is How can you make the States fix and deal with this? I will start with Banks that are trying to foreclosuse. need to prove that the amount they are requesting from the homeowners is valid and due (many banks just add fees as they wish) Next they have to prove that they really sre the real owners of the note and have the right to foreclouse (show the note) Any sugestions? And how can people force the States to take charge?

Stop MERS in its Tracks.
Message:

I just created a petition: Stop MERS in its tracks, because I care deeply about this very important issue.

I’m trying to collect 214,743 signatures by May 31, and I could really use your help.

To read more about what I’m trying to do and to sign my petition, click here:
http://www.change.org/petitions/view/stop_mers_in_its_tracks?share_id=EEGeqSPWQN&pe=pce

It’ll just take a minute!

Once you’re done, please ask your friends to sign the petition as well. Grassroots movements succeed because people like you are willing to spread the word!

Jane Cole

Below is the peitition that i have written,
Please go on the site and sign it.This is very important.

Mortgage Electronic Registration Systems, or MERS with the financial services industry has launched an aggressive campaign on Capitol Hill to bolster the legality of the way MERS
has turned mortgages into securities and traded them across the globe in recent years.They have held for key members of Congress an event last week that drew more than 60 people. They are selling MERS to key members of Congress. We need to petition Comgress not to increase the power of Mers. This company is part of the fraud that is causing the foreclosure crisis.

The banking and loan servising industry is seeking legislation by lobbying Congress that would effectively affirm MERS legality and block any bill that would call into question what MERS does. MERS has spent over $1 million in lobbying since fall 2008, When lower courts around the country began to rule against it. MERS name was not well known until the recent uproar over foreclosures revealed broad problems in mortgage paperwork. This company must not increase its power. Our elected officials must be contacted to stop this company. As foreclosures have increased in our country it has been determined that the entity initiating the foreclosure on a particular home was unable to produce the actual mortgage note. Getting deeper into the matter, all sorts of irregularities, including that the same mortgage may have been sold multiple times, so that multiple entities might be claiming foreclosure rights. Some owners found that they were making payments with the wrong banks due to MERS or had gone through the HAMP program to find out the house was foreclosed. Clerks of Courts have complained that properties weren’t being registered in their local offices thus bypassing recording fees that took away fees for local governments. State Attorney Generals are investigating the foreclosure crisis and MERS. Original complaints were about MERS and the bypassing of fees, but more investigations have found more abuses in the mortage industry. This crisis must come to a stop, MERS must be stopped for
our country’s economic health to return. Home ownership has always been the American Dream but because of MERS the middle class has lost millions of dollars, The foreclosure crisis must
be stopped. MERS could with one quick piece of legislation make all lawsuits related to MERS across the country null and void . We need to petition our lawmakers to start a federal registry, which will effectively kill MERS business and force the industry to submit to greater oversight
Please stop MERS in its Tracks by signing this petition.
Mortgage Electronic Registration Systems, or MERS with the financial services industry has launched an aggressive campaign on Capitol Hill to bolster the legality of the way MERS
has turned mortgages into securities and traded them across the globe in recent years.They have held for key members of Congress an event last week that drew more than 60 people. They are selling MERS to key members of Congress. We need to petition Comgress not to increase the power of Mers. This company is part of the fraud that is causing the foreclosure crisis.

The banking and loan servising industry is seeking legislation by lobbying Congress that would effectively affirm MERS legality and block any bill that would call into question what MERS does. MERS has spent over $1 million in lobbying since fall 2008, When lower courts around the country began to rule against it. MERS name was not well known until the recent uproar over foreclosures revealed broad problems in mortgage paperwork. This company must not increase its power. Our elected officials must be contacted to stop this company. As foreclosures have increased in our country it has been determined that the entity initiating the foreclosure on a particular home was unable to produce the actual mortgage note. Getting deeper into the matter, all sorts of irregularities, including that the same mortgage may have been sold multiple times, so that multiple entities might be claiming foreclosure rights. Some owners found that they were making payments with the wrong banks due to MERS or had gone through the HAMP program to find out the house was foreclosed. Clerks of Courts have complained that properties weren’t being registered in their local offices thus bypassing recording fees that took away fees for local governments. State Attorney Generals are investigating the foreclosure crisis and MERS. Original complaints were about MERS and the bypassing of fees, but more investigations have found more abuses in the mortage industry. This crisis must come to a stop, MERS must be stopped for
our country’s economic health to return. Home ownership has always been the American Dream but because of MERS the middle class has lost millions of dollars, The foreclosure crisis must
be stopped. MERS could with one quick piece of legislation make all lawsuits related to MERS across the country null and void . We need to petition our lawmakers to start a federal registry, which will effectively kill MERS business and force the industry to submit to greater oversight
Please stop MERS in its Tracks by signing this petition.

Thank you again!

Parallel Foreclosure

Dec. 16, 2010, 4:15 p.m.

Dual Track is actually known as Parallel Foreclosure behind closed doors at Chase Bank and Bank of America, and probably by extension, the other main banks as well.

Sarah Buduson, a Phoenix area television reporter, exposed Parallel Foreclosure in the fall of 2009. Since that time, I don’t think anybody else since has used the phrase parallel foreclosure.

I purchased the domain name parallel foreclosure out of fear that the banks would purchase it and bury it.  Ironically, despite my dozens of articles on my parallel foreclosure blog about parallel foreclosure, nobody from the media will use the phrase.

Who would have thought that a blogger buying the domain name parallel foreclosure, researching and writing articles about parallel foreclosure, would result in not one reporter picking up on a story that was originally discovered by one of their own.

Sarah Buduson should get an award for exposing parallel foreclosure so early on, (well over a year now), but instead its as if her report, that aired on local television in Arizona, never happened.

I won’t even bother to leave a link because then my response gets redflagged, and probably doesn’t get posted.  And yet, I have TWO VERY VISIBLE LINKS from two of my blogs to propublica.

I offerd to pay my mortgage off. Chase said “prove you have it”. I did. They forclosed anyway. Do I have any recorse

Alessandro Machi

July 23, 2012, 1:15 a.m.

Hi Mike, you might want to contact HSI Trust.  http://www.hsitrust.wordpress.com/

I don’t work for them nor have worked with them, but they have been featured on ABC NEWS several times over the past year and a half.

Illegal Foreclosure Settlement

Sep. 12, 2013, 8:19 a.m.

Incredibly thanks for publish information.Foreclosure is the lawful process by which a mortgagee, or other mortgage owner, usually a loan provider, acquires a cancellations of a mortgagor’s reasonable right of payoff, either by order from the judge or by function of law Usually a loan provider acquires a protection interest from a client who loans or promises an resource like a house to protected the loan. If the client non-payments and the lending company tries to claim the residence, lawful courts of value can allow the client the reasonable right of payoff if the client repays the debt. While this reasonable right prevails, it is a reasoning on headline and the lending company cannot be sure that it can efficiently claim the residence.Illegal Foreclosure Help

Cheryl Kelmar

Oct. 11, 10:33 a.m.

People need to understand how single women are being brutalized with government defamations and allegations of criminal conduct by fighting and reporting fraudulent behavior by banks who are trying to steal their homes. Fraudulent behavior that the government has collected billions. I have probably one of the most comprehensive lists of governments’ actions against banks there is, in my book ‘The Judge’s Oath: Do Equal Right to the Poor and to the Rich.’ How can the government punish us with lifetime defamations for suing banks for the same issues they have collected billions?

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