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Where Things Stand: Foreclosure Paperwork Scandal

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(Joe Raedle/Getty Images)

Some struggling homeowners are currently getting a temporary reprieve from foreclosure sales and evictions during the holiday season, but that doesn't mean all foreclosure cases have stopped moving through the courts -- and it doesn't mean we're done covering the developments in the foreclosure scandal either. Here's where things stand:

Earlier this year, the discovery of sloppy documentation practices across the mortgage servicing industry caused many banks -- first GMAC, then Bank of America, JPMorgan Chase and others -- to temporarily freeze foreclosure sales as they conducted reviews of their document processing procedures. Mortgage servicers -- often divisions within large banks -- handle the day-to-day collection of mortgage payments. They're also supposed to provide loan assistance to struggling homeowners. Banks cast the problems as procedural mistakes but asserted that the underlying information in key foreclosure documents was accurate and did not result in any wrongful foreclosures. (As we've noted, banks and foreclosure defense attorneys disagree on what constitutes a wrongful foreclosure.)

One by one, they resumed some or all foreclosures and are re-filing the questionable documents, but attorneys for homeowners have said that the fixes have been inadequate and the result has been "more of the same." Last week, the Daily Business Review reported that new rules in Florida to remedy the problem of robo-signers -- bank employees who had signed foreclosure documents without verifying their accuracy -- had given rise to "robo-verifiers" who simply go through the motions of double-checking the documents.

Iowa's Attorney General Tom Miller, the point man on a 50-state joint investigation of the foreclosure scandal and mortgage servicing industry, has said that a quick settlement with banks and loan servicers is unlikely and that settlements would be worked out "one bank at a time." He's also said that criminal charges are a possibility. "We will put people in jail," Miller told homeowners and advocates in Des Moines earlier this month. The states' joint investigation remains ongoing, and some states have separately sued banks for deceiving homeowners fighting foreclosure.

On the federal level, the status of the investigation by the Office of the Comptroller of the Currency and other banking regulators is less clear. The OCC, the Federal Reserve and the FDIC are currently divided over new rules proposed by the FDIC that would rein in the bank abuses that may be causing improper foreclosures, according to the Huffington Post.

Last week, a group of more than 50 economists, analysts and academics wrote a letter to these federal regulators, urging them to establish national standards for servicing. In the letter, they said that servicing fraud presents problems for investors, homeowners and the U.S. economy. They also urged regulators to compel servicers to grant loan modifications and principal reductions -- or reducing the amount owed by homeowners -- when economically possible.

We've noted, however, that for about half of the country's mortgages, the chances for principal reductions are slim. That's because the Federal Housing Finance Agency, the regulatory agency for government-controlled Fannie Mae and Freddie Mac, does not permit them to grant principal reductions, even though doing so could save the mortgage giants money in the long term and help homeowners whose mortgage debts have come to exceed what their home is currently worth. (Read our primer for more on how Fannie and Freddie -- together with their approved foreclosure law firms -- contributed to the foreclosure mess.)

Reuters also reported that the Senate adjourned last week without confirming a new head for Fannie and Freddie's regulator. Republican Sen. Richard Shelby put a hold on President Obama's nominee, Joseph Smith, voicing concerns that Smith would support changing the rules to allow Fannie and Freddie to grant principal reductions.

The Senate also adjourned last week without appropriating $35 million that had been authorized by the Dodd-Frank financial reform bill for funding legal aid for homeowners fighting foreclosure. That means the money -- which legal experts including Miller had said was desperately needed -- wasn't actually set aside for use.

Though foreclosures continue to speed through courts in some states ($), in recent months some judges have increasingly questioned banks bringing foreclosure cases in court, forcing them to prove their legal standing to foreclose.

New Jersey's Supreme Court Justice Stuart J. Rabner last week issued an order calling on six major mortgage lenders and loan servicers to appear before the court next month and demonstrate why the state should not suspend their foreclosure actions, the Associated Press reported. And earlier this month, a justice on New York's supreme court testified before House lawmakers that he's seen problems in foreclosure cases "on a recurrent basis" and that questions of legal standing have become "a pervasive issue."

But it's also worth mentioning that foreclosures work differently depending on the state. Most states are "non-judicial foreclosure" states, meaning they don't even require foreclosure actions to go before a judge. Bloomberg noted that in these states, banks can more easily and quickly process foreclosures, and homeowners have less recourse to fight back.

Most states are “non-judicial foreclosure” states, meaning they don’t even require foreclosure actions to go before a judge. Bloomberg noted that in these states, banks can more easily and quickly process foreclosures, and homeowners have less recourse to fight back.

Banksters aware of this, and know they will not get punished in none-judicial states. While the OCC Treasury and even COP looks the other way Banks are steeling homes by the millions in none -judicial states.

Braking into homes and steeling personal property from homeowners in none-judicial states is also allowed for banks.  Changing locks, frightening children in homes is also allowed in none-judicial states by banks.
I say allowed because as of yet I did not see any punishment.

Filing faulty and fraudulent foreclosure documents is the most known in none-judicial states. In order to respond to a fraudulent notice you need an attorney. When homeowners are struggling to pay their mortgage or temporary modified payments, they don’t have an extra $10.000.00 to hire an Attorney.

The Banksters know this, and that is why they going around stealing peoples homes.

The Irony of this is that when they foreclose and the home gets re-sold for 50% less, the original homeowner could have stayed in the home, if the bank would of offered a principle reduction.
But they choose to foreclose, because this way they can charge fees to make more money from the investors.
Banks ripping off both, the homeowners and the Investors, while our government is doing nothing about these heinous acts committed by banks.

Just in case people forget, in 2008 the American people were promised to be helped if the banks will get bailed out. Well the Banks got bailed out.
Goldman Sucks CEO Blenkfein got his $ 67.5 Million salary in 2009.

What happened to the American People under Henry Paulson proposal?  In this video 5:01 pay attention to what he is saying. Did any of us benefited? If I remember banks were lowering credit limits to everyone in 2009

http://www.youtube.com/watch?v=QcI3aAMnwPk&feature=related

The OCC is a joke.

I returned home to find my locks changed, a bank “clean out” tag on my door and $1,500 of my possessions missing. Sheriff and state officials were shocked because I was not in foreclosure. They had no jurisdiction but requested that I file an OCC complaint and notify my Senator.  They were equally surprised by my bank’s actions and rushed my complaint to the OCC.

18 months later, the OCC notified the Senator and me that there was nothing they could do. I filed a FOIA request to see what was happening behind the scenes. My file showed an OCC in complete disarray. My bank gave false and misleading information to OCC investigators that were never verified. Support staff failed to follow through on requests from supervisors. Senior staff disagreed with each other. Finally, the OCC gave false information to my Senator.

OCC is allowing banks to break into private homes and rob the homeowner.

While I am not defending banks, the people who are being foreclosed must remember that it was their promise to pay the mortgage on time. Faulty foreclosure apart, why should the borrowers be bailed out when they are not making payments? They took a gamble and rode the housing boom. They want the gains but when it turns sour they want bailouts. It is easy to blame, look within yourself. The bank may not have the correct paper work, but that does not change the fact that the majority of people foreclosed are defaulters. It is not fair to people who pay on time and save for rainy days to find the speculative buyers getting bailed out.

Alfred,
You are an idiot.

While I was married and a stay-at-home mom, we WERE behind on the payments.

I got divorced, finally found a job, but could NOT catch up on past payments.  I *was* making monthly payments in full and on time for a year when the mortgage company demanded that I catch up on all payments.  I begged them to modify the loan, to refinance me… they refused.  They doubled my mortgage and I could NOT pay that amount.

A year ago, I owed $42,000 in principal on a house appraised at $82,000.  My payments were $575 per month at 9.25% interest.  They would not refinance me.

Now it’s being foreclosed at minimum bid $57,000 after they weren’t able to collect $1100+ mortgage payments from me.

I was NOT taking advantage of a housing boom.  I bought an old house for my family that was appropriate for our income.  I didn’t plan on a divorce or having a hard time finding a job.  I didn’t plan on breaking my leg this summer.  And I sure didn’t plan on my mortgage being doubled.  They COULD have worked with me, but they refused.  And now I’ve lost everything I’d invested in for the past 20 years, the only home my children have known, blood/sweat/tears as we’ve planted/painted/fixed, and the security I’d planned on for my senior years.  I used my retirement as a down payment and swapped my rights to my ex’s retirement in return for the house in the divorce.

What would YOU suggest I’d done differently, Alfred?

These robo-signing problems were not due to"sloppy documentation practices” as the author claims and banks would like you to believe.  They are due to out- right premeditated fraud.  Attorneys general in 48 states are investigating and AG’s in Nevada and Arizona are suing Bank of America calling it fraud. 

Read Matt Taibbi
http://www.rollingstone.com/politics/news/matt-taibbi-courts-helping-banks-screw-over-homeowners-20101110

Improper paperwork and practices are the tip of the berg. What will happen when mortgage holders discover that their mortgages have been fraudulent from the inception? What will happen when people study their paperwork and discover that, in most cases,  there is no contract - and that their ‘lenders’ did not actually lend them their own funds, as required? Holders of mortgages might consider unilaterally cancelling their mortgage and note. So far, citizens have been intimidated, but maybe that era is ending..

Alfred, you are an idiot!:-)

People like Diana have been defrauded.  They were told that their mortgage rates would rise a small amount or that they would be able to refinance if they needed to.  They were sold overpriced homes, some of which were flipped threeor more times.

Many of the apprasials and inspections were fraudulent.  It is common practice for realtors to refuse to give business to appraisers who do not “meet” their contract prices for homes, and inspectors who find problems with homes causing delayed closings and extra dollars involved in repairs.

I finally got out of the business in disgust.  Realtors make used car salespeople look like saints.

Barry Soetero

Dec. 27, 2010, 4:39 p.m.

Alfred - you obviously do not know enough to make a somewhat intelligent comment.  Why don’t you spend some time at ourlemon.com and learn about MERS and Robosigners before posting any dimwhitted comments anywhere on the Internet - or just go back to your village.

It is absurd the Federal Housing Finance Agency wil not allow principal reductions.

Alfred-I agree with Barry,Pat and David’s assessment of your intellectual prowess concerning this matter. I am very sure you do not have any answer (worth considering) in regards to Diana’s dilemma. I would suggest you walk a day in her shoes. Actually, I would like to rephrase the comment. You are a f…ing idiot!

It is precisely articles such as this that really perpetuate the banking propaganda!

It is NOT “sloppy documentation practices.”  It is FORGED AND FRAUDULENT “LEGAL” DOCUMENTS THAT ARE CORRUPTING OUR LAND RECORDS of this nation. 

That is nearly all land records corrupted.  If there was any purchase, sale or refi done on any property in the last decade, you will find forgery, fraudulent filings and notary fraud in almost every document.

Being Middle Class Dot Org

Dec. 27, 2010, 6:37 p.m.

Thanks for the good work propublica.
The banksters were “allowed” to refile paperwork.  Odd, isn’t it?  The paperwork they filed was not flawed, as they state, it was fraud.  When someone signs an affidavit before a notary, attesting to the facts, stating the facts contained therein are true and correct to the best of their knowledge, and it is entered into a court of law, that’s called fraud.  But since they are banksters aka the government, they get a do-over.

I have a feeling if you or I would have tried this concept (filing FRAUD documents) we’d end up in a very different position.  And I don’t think we’d get a “do over”.

Being Middle Class Dot Org

Dec. 27, 2010, 6:47 p.m.

Alfred.  You would be correct if the demise of the housing industry wasn’t cause by the banksters creation of MERS, betting against the loans, giving loans to anyone with a pulse and insuring them against loss.  The banksters, together with the government, is the reason the housing market crashed.

As a result, many are unemployed, home values have declined more than ever since the Great Depression.

If anyone deserves a bailout, it the American homeowner for believing in the American dream.  The dream has become a nightmare.  This crisis does not affect just homeowners who cannot pay their mortgage, it affects every homeowner.  When the house next to you forecloses, what happens to your value?  When several homes on your street go into foreclosure, you can only imagine what happens to your value.  Homeowners in distress and homeowners able to make their payments should all be concerned about the housing crisis.  And place the blame where it belongs.

Alfred- the only comment i have for you is you could be next. It doesn’t matter how much you have in reserve once you loose your job you done.

You’re running your big mouth like you some f***king big short I hope you have a change of heart and really understand that a lot of hard working AMERICANS are in serious trouble and needs help here in AMERICA !!!NOT AFGANISTAN!!! BUT UNITED STATE OF AMERICA!!! Cause of all this problems? the WAR!!!! we paying for it alright.

I used to be an appraiser in Chicago. If my appraisal didn’t match the sales price, my boss would usher me into his office and “work” the report. I thought this was standard practice, until I gained experience. 
I also learned that people could dispute the appraised value, until they got the value they needed. All they had to do was go to another lender. 
And this was after the Arizona debacle with the Phoenix Resort and Keating.
And now, with all these regulations in place, AZ still leads the nation in inflated home values.  Duh.
I, too, wonder why lenders, in this economy, refuse to negotiate with homeowners, who tend to their homes, yet have fallen behind in payments due to this economy.  Better to have somebody stay in their home and take care of it. Lenders aren’t in the property management business, and local ordinances require properties to be cared for, or face demolition.  Duh.  Let’s see….do I take less money…or no money plus pay insurance and upkeep?  Easy answer….take less money now, and re-negotiate later?  It used to be “I wish I had banker’s hours”  but now it’s “I wish I had a banker’s job.”

Middle Class Dot Org

Dec. 27, 2010, 6:58 p.m.

Jill, that is what I have been posting at beingmiddleclass.org—- that appraisers inflated appraisals and if they didn’t, they were asked to leave.

Servicers are not modifying loans because they make more money extending and pretending the loans (keeping loans on their books and charging investors money for “servicing” the loans). 

With the securitization, most do not know who their investor is.  The loans were pooled, lumped together and put into a Trust and sold on Wall Street. 

A lot of the predatory loans were made and then the banksters betted against the loans; knew they would default so it was a win/win for most of the money makers.  The homeowners lose. 

HAMP is a scam.  The bankster will tell you you are pre-qualified for the trial program, take as much money as you are willing to give them, and then when you call them on making your trial a permanent one, they will tell you that you do not qualify for assistance and foreclosure will begin.

Terry Avondet

Dec. 27, 2010, 7:10 p.m.

After fighting with our Mortgage company for over a year trying to get our loan modification, we are giving up.  They have refused, using so many lies that we have lost count including saying that we were not living in the home that we have lived in for 14 years or that we make too much money.  So in about 3 weeks we will lose our home.  I am medically retired and my husband is a disabled veteran.  Our country is really heading downhill fast when we worry about other countries problems ahead of our own.

Not one mention of MERS and the issue of whether the banks even hold the notes to these properties. Why was that left out? Couldn’t be because if that were made an issue, the banks would come down?

How do you find out if your state is “non-judicial” or not???  Hamp is a huge joke, I was just turned down (it only took 4 months)  because Bof A said they couldn’t lower the payment enought to meet the criteria.  What??? why do we have the program at all? and why isn’t the president enforcing it if it was his great idea?  And Alfred, ya you are an idiot, the banks got the bailout and they were supposed to pass it through and modify people who were paying too high of an interest rate and they don’t so don’t you dare go preaching until you know the whole story.  The banks aren’t modifying loans because they can write off the WHOLE loss when they forclose and then they get the house and then resell it, that’s how they are making money now seeing they are not doing any lending with the HUGE bailout they got.  I’m in FL (hit by the oil too) so if anyone knows if FL is non-judcial please let me know.  thx

Alfred I agree with Barry,Pat David Roy and Beingmiddleclass you are an idiot.  In my opinion you are also a smock. (I hope spelled it right. )

And on top of this when they take your home fradulently you can use you rainy day savings to hire an attorney.


Buy the way Alfred maybe you not informed, well so here you can watch this video and get educated about the Banksters.

http://www.youtube.com/watch?v=QcI3a…eature=related

Single mom : I believe FL is a judicial state. But over there you have a problem with robosigner Judges.
Find Matt Taibi on google and you can find out more about what is going on in Florida.
Or visit Beingmiddleclass.org and there is a lot of Information and help from great people.

Roy Was that you on Beingmiddle the other day?

Middle Class Dot stated it well when she wrote:

“HAMP is a scam.  The bankster will tell you you are pre-qualified for the trial program, take as much money as you are willing to give them, and then when you call them on making your trial a permanent one, they will tell you that you do not qualify for assistance and foreclosure will begin.”

...except that the foreclosure doesn’t begin when they reject you for a permanent modification. It begins WHILE you are making the trial payments. That way the bank can complete the foreclosure more quickly when they finally deny the permanent modification.

..and it’s not just the banks that tell you that you pre-qualify.  The HAMP makinghomeaffordable.gov web site tells you the same lie, if you have substantial equity in your home.  The qualification tool on this government web site never asks about equity, but the FDIC guidelines MANDATES that those with substantial equity are denied a modification.

For everyone with substantial equity, the trial modification is a scam intended to force you to foreclosure with additional fees and penalites, as well as ruined credit while you are making trial payments for a modification that is predetermined to fail…by FDIC mandate.

The purpose of HAMP is to help mortgage INVESTORS, not borrowers!  On page 13 of the Congressional Oversight Panel’s December report it states: 

“C. HAMP’s Structure

    HAMP is designed to provide a path to modification in those cases in which modification is the economically preferable outcome, from the perspective of the lender or investor who owns the loan, to foreclosure.”

http://cop.senate.gov/documents/cop-121410-report.pdf

acmodspecialists

Dec. 27, 2010, 10:31 p.m.

Alfred you are extremely ignorant your comments are 2 years old Banks are even foreclosing on homes that mortgage has been paid also some cases of people being current on their mortgage and they got foreclose, Breaking in homes by mistake and changing locks, Falsification of documents, affidavits and signatures also by the banks (the borrower is not doing falsification of anything ) Also the banks are now for implemented incorrect and perversive fees or forcing expensive homeowners insurance to borrowers in order to make it more difficult for them to save their home (hope you never get one of inaccurate those fees or expensive insurance )
Most important you are forgetting who was bail out and that is the banks with your tax money! and if you think you are immune because you are current with your mortgage just look at the value of your home how much value has lost thanks to the banks that you are so much defending
Last but not least i suggest you go see the movie documentary Inside Job, Read some books like
After Shock, Robert Reich
The Big Short, Michael Lewis
Crisis Economics, Roubini
The End of Wall Street, Lowenstein
The Forgotten Man, Amity Shlaes
FreeFall, Joe Stiglitz
The Great American Stick-Up, Robert Sheer
The Great Depression Diary, Benjamin Roth
The HellHound of Wall Street, Michael Perino
The Quants, Scott Patterson
The Return of Depression Economics, Paul Krugman
Too Big To Fail, Andrew Ross Sorkin
Griftopia, Matt Tiabbi
Once you do read at least some of these then please write here again I would like to see your comments when you are not and ignorant anymore

acmodspecialists

Dec. 27, 2010, 11:11 p.m.

Garbor like always you are a 100% right !
Here one new problem
The Senate adjourned last week without confirming a new head for Fannie and Freddie’s regulator. Republican Sen. Richard Shelby REPUBLICAN put a hold on President Obama’s nominee, Joseph Smith, voicing concerns that Smith would support changing the rules to allow Fannie and Freddie to grant principal reductions. Everybody should write and coll this senator
Here the 2nd problem:
The Senate also adjourned last week without appropriating $35 million that had been authorized by the Dodd-Frank financial reform bill for funding legal aid for homeowners fighting foreclosure. That means the money—which legal experts including Miller had said was desperately needed—wasn’t actually set aside for use. Also blocked by Republicans
Single mom, also look in to 4closurefraud.com for help in FL

acmodspecialists

Dec. 27, 2010, 11:15 p.m.

Linda I would like to help you, if you still living in the property maybe i can help, i don’t want to use propublica for this but I would like to help,  look me up in the web acmodspecialists.com
Also make a copy of what you wrote here and send it to the media, congress, senate etc, does not hurt and it may help

acmodspecialists

Dec. 27, 2010, 11:29 p.m.

Garbor i forgot the 3rd problem
“Remember that time-honored inversion of the Golden Rule: He who has the gold makes the rules. Representative Spencer T.  Bachus, REPUBLICAN of Alabama and the new head of the House Financial Services Committee, offers a specific example in a recent interview with The Birmingham News: “In Washington, the view is that the banks are to be regulated, and my view is that Washington and the regulators are here to serve the banks.”
How about that?

One thing could bring banks to negotiations is
MASSIVE “MISSING THE MORTGAGE PAYMENT” MOVEMENT

acmodspecialists   Now that the Republicans will be in charge foreclosures wil be so massive that by the year 2012 America will have 20% of its population foreclosed.

I am talking about 60 million people. Men Women and Children. If you calculate 14 million homes and figure 3-4 people including children this is over 60 million.

Mark my word. The republicans are NOT ALL but most of them like Nazis.They are against the American working class.
They have killed every bill since this mortgage crisis started, that would of helped homeowners.
They have never helped the working class. Never ever.
Ronald Reagan Screwed this country by distroying the middle class and making the top 1% even richer.

They only represent corporations and large banks.
The lobbiyst bribe them and they ignore the fact that they should represent the American people.
Democrats most of them no different either.

The only politicians I can name who spoke up for the middle class here in CA was Maxine Waters (D) and Mr. Daryl Issa Rep. Also Brad Sherman. (D)
These three should run this country because they are for the working people.

Our legislation here in CA killed the bill , That would of helld Banksters accountable for wrongful and fraudelent foreclosure. I guess they got paid off by the Mortgage Bankers Association who lobbied against this bill big time.
I wonder how much money and gifts they received. Just to screw the people out of their home and make it legal.

This bill could of protected even those homeowners who don’t have a mortgage. But banks steel their homes and then banks brake in and then change the door locks on the homes. Even if it is owned free and clear.
But our legislatiors said it is not fair to the banks.
If they want to do foreclosures by fraud it is OK.

People like Alfred disgust me.  The things that are happening, foreclosing without proper documentation and all the other abuses and yet ALFRED comes here to admonish citizens who but for the improprieties of the banks and wall street would not be behind in many cases.

May justice be visited on you Alfred, some day if there is justice you too may be oppressed and then you can remember your cold, self-serving, self righteous attitude here and no doubt other forums where you spread your bile.

Anne;
you are right there is a thing out there called Karma

ALFRED, my maggoty friend, if memory serves the bankers who you say you are not here to defend WERE BAILED OUT.

Why should not innocent citizens and taxpayers WHO WERE PROMISED HELP in return for the helping hand given to banks, why should they not receive aid?  Whatever “wave of profits” they road, they pale in comparison to the greed and avarice of wall street that caused this mess.

Alfred, how can I convey to you how loathesome and despicable you are.

You’re a snake, you come here saying you don’t defend the bankers but you are.

You can say whatever you want, it is obvious you are a LIAR.  your actions reveal you even while your words fail to hide your hateful motives.

However much anyone’s personal weaknesses and frailties may have contributed in some way large or small to their current distress, their personal weaknesses did not seek to victimize anyone.  But that is what you are doing Alfred, I can almost see you drooling over your computer as you relish the thought of people losing their homes.

You, people like you, cause me to believe in evil and the anti-christ.  You are the disciple of the anti-christ imo, you can’t hide ALFRED.  You are coming through loud and clear.

@Gabor, clearly everyone sees ALFRED for what he is.  He is a coward, a self-righteous fat-cat coward who hides behind his computer to lob stones at people who are struggling to survive.

Let’s all hear it for ALFRED aka Scrooge.  I guess that those visits from Christmases past present and future didn’t help poor ALFRED’S frigid heart.

Here is the point the bans are insured they get their money ! The Servicer gets paid! Everyone wins twice! Except for the homeowner! The loan Modification if you finally get one from Bank of America read it! You are back to where you started from in a couple of years. So if your house does not go back up in value you have been caring for their property. You lose! I fought them for two years I feel like I have been in the rin with Mike Tyson but in the end they take your soul and you have been fighting with the DEVIL that has no heart. You can’t win when they have no heart! You are coming from heart and they are coming from who knows where!

@Susan, perhaps the chill you describe feeling in your heart can be explained or understood by remembering this phrase: “Dance with the Devil”.  that is what this struggle amounts to, its the devil’s entertainment forum, his choice, he chooses to dance with you cheek to cheek even the whole time knowing how his very touch leaves pestilence in its wake.

to know these bankers is to know that evil is alive and well in America.  Greed and avarice are the order of the day.  If they had any conscience at all they would stop devouring homes but they have none, their only concern is to feast on the homes of people who are struggling while they are too weak to resist.

Alfred,

I just read your comment and I hope that this year does not bring you Loss of jobs or strokes or Death in the Family! I hope you have what you deserve a year of thoughtfulness of others. What goes around comes around!
Susan

Not that there is a shortage of things to be repulsed by and to be concerned about, but the images that come to mind, the thoughts that come to mind of the moral decay that lives within these walking vessels of evil is truly frightening and repulsive.

They gorged themselves until, finding themselves in trouble, they came, snake-like to the public trough for help to survive.  Once better and on their way they have not wavered in their dedication to the same evil that drove them in the beginning.

how can anyone know that and not be disgusted by it?

I’ve read a lot of primitive answers to Alfred. To a certain extend he is right and president Obama said the same thing. I’ve read a lot of stories in the press about people who hoped to make a quick buck, who bought a house they couldn’t afford or others who thought they really needed a second home. They do exist and shouldn’t be bailed out. Now, Alfred overlooked the fact that some people fell on hardships and that there is fraud by banks but it doesn’t make it less true that some people just speculated and lost.
To wish Alfred evil makes me question much more than the sanity of the responders. How intolerant and vicious. Indignation doesn’t excuse everything.

The banks are foreclosing on some people that have really suffered and I am only saying that Alfred should think about those people before he makes those Blanket statements! Because what goes on in ones home is different in every case. Not everyone is a crook. Not everyone thinks like that! Wait before you pass judgement! It is a terrible thing to face being homeless for something that was beyond your control!
I wish nobody harm but before they pass judgement on me they should walk in my shoes!

acmodspecialists

Dec. 28, 2010, 3:05 a.m.

Grabor, again you are 100% right in your comment made Yesterday, 12:16 a.Here is the 4th an main problem, People voted in this election to put the Republicans back in charge ! so people are voting incredibly against its own interest, so to me this is the worst of all the problems

Nobody wished ALFRED evil, or at least any evil he didn’t bring on himself by “lecturing” people he doesn’t even know about how its their fault for being in trouble.  His crystal ball seems to me to be on the fritz so maybe he should get it looked at before he comes here judging anybody..

People like him are cowards.  Because he speaks out of both sides of his mouth.  First he says he’s not defending the bankers, and then he does.  So he is just another example of a fast-talker snake oil salesman.

You notice how he disappeared after he dropped his bomb?

I don’t know about anyone else but I have been lectured about as many times as i have tolerance for.  My tolerance for cowards like him is all used up.

The FACTS are the BANKS caused this problem and THEN THEY GOT BAILED OUT.  And then some coward like him comes in her to tell us we don’t deserve any help and its our own fault.  He doesn’t know us but he’s seen the evidence on the banks and still he can’t stop himself from pontificating and sermonizing.

What was wished on him is that he feel the same thing we feel, to be down and out and then have some moral clown like him show up, not offering help, just telling him what a loser he is.

There is nothing lower than beating up on somebody when they are down.  Some people can’t figure that just by using their head so people like that have to learn the hard way.  If there is justice he will learn the hard way.  And I hope if/when it happens to him that he remembers what a jerk he was today.

acmodspecialists

Dec. 28, 2010, 3:25 a.m.

Genthianne, forgive me but your comment is so beginning of 2008 and is a 2 years old comment, The people that you mentioned “people who hoped to make a quick buck, who bought a house they couldn’t afford or others who thought they really needed a second home” Those people are all gone and already lost there home, the people that are suffering now and losing there homes to FRAUD committed by Banks are honest working middle class people like Linda that they been lied to, fraud etc, I know cases were the Banks told the borrower not to make a payment, so they can foreclosure on their home later on, others were even current, and they got foreclose, others the banks was trying to foreclose after a modification was granted, and it will be to long to write here all the abuses, property rights violations and even more perpetrated by these Banksters
So your comment is so 2008 !

Nissim Sasson

Dec. 28, 2010, 3:26 a.m.

Alfred, you are an idiot ! :-)

Nissim Sasson

Dec. 28, 2010, 3:39 a.m.

Alfred and Genthianne,  acmodspecialists wrote a comment here the other day from from mark twain that stated: A BANKER IS A FELLOW WHO LENDS YOU HIS UMBRELLA WHEN THE SUN IS SHINING BUT WANTS IT BACK THE MINUTE IT BEGINS TO RAIN
Mark Twain

Anybody who has to deal with these banks and manages to survive deserves a medal.  they have devised ways of torturing people that are inhuman.  You can’t call and talk to them, just making a payment is enough to stress you out for two days by the time they get through jerking you around.

I signed a permanent modification and I’m still getting letters in the mail telling me what I can do to avoid losing my home.  When I call to make a payment they say “they can’t accept it” because I’m behind in my payments.

There ought to be a special place in hell for those people who caused this because they are not suffering now, WE ARE.

they got their Christmas holiday bonus and went shopping to buy their stupid designer clothes so they can take a nice long cruise and relax and get away from it all.  They are not in touch, they are arrogantly unaware of the pain they caused and I despise them and I despise my government for empowering them.

Obama has rattled his saber saying how he’s going to fine the banks for not cooperating but he hasn’t fined anybody.  it’s all a big show put on to impress the little people.

They committed fraud they lied they cheated and they stole and they profited from it and left the rest of us holding the bag.

Nissim Sasson

Dec. 28, 2010, 4:15 a.m.

Anne, I couldn’t say any better ! well said !

Go easy on Alfred for he knows not what he speaks. Their are some very good comments posted here from people who really seem to care about this foreclosure nightmare. In addition to commenting here and other related blogs these arguments need to be brought to the attention of everyone’s local media and politicians whether you personally are involved in a foreclosure does not matter because this problem affects everyone. It is very easy for the banks and lawyers to dismiss any arguments from those who are behind on their payments but when others who have no skin in the game show support and demand something be done it becomes more difficult for the powers that be to blow them off. Since this problem affects everyone we all need to take some time to be involved and ask that this problem be fixed.

“sloppy documentation practices” is a nice way of saying “corporate criminal activity.”  its also known as FRAUD.  institutionalized crime is NOT some honest little mistake. The real estate bubble was the result of massive fraud by the entire real estate industry from top to bottom.  Mortgage fraud, appraisal fraud, mortgage broker fraud, securities fraud, foreclosure fraud.  TARP itself was a fraud.  Obama’s economic policy is simple: bail out the criminals no matter the cost to the middle class and our nation.  it is disgusting and makes a mockery of the idea of a nation of laws. all you banker apologists should be ashamed.

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This article is part of an ongoing investigation:
Foreclosure Crisis

Foreclosure Crisis: Banks and Government Fail Homeowners

Banks and the government have fallen short in helping homeowners in danger of foreclosure.

The Story So Far

Systemic failures at the country’s banks and mortgage servicers have exacerbated the most severe foreclosure crisis since the Great Depression, and government efforts to limit the damage have fallen short. ProPublica created an unrivaled database of homeowners who have faced foreclosure, opened a Facebook page to encourage homeowners to share their stories, wrote profiles of some of them, and incorporated their experiences into our reporting. We also provided a comprehensive rundown of the numbers behind the crisis.

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