The Foreclosure Crisis in 30 Seconds: Damon Silvers at the COP




I sure could use some…

31 Responses to “The Foreclosure Crisis in 30 Seconds: Damon Silvers at the COP”
  1. John says:

    In the phone book there is no such thing lised as a forensic auditor. How do you find one? In Alabama, Birmingham if possible!

  2. J Glenn Lowe says:


    Big Wall Street Banksters created the Foreclose Economy because they are that greedy and “Too Big to Care” about the American Dream and basic Contract Law. It was done by design and with treasonous and willful intent strictly for power and profit.

    The Illegal Securitized Mortgages that became the death blow to our economy actually bet on the foreclosure of the homeowner for as much as a 30 times return on investment. This is true financial terrorism. It is actually better for the investor to foreclose than to help someone stay in their home.

    Want to know how easy it is to fix this problem? Crash all of the Big Banks now and fund local banks only that serve to enrich local economies only. Look at the example of the state owned banks in North Dakota, whose population has only a 4% unemployment rate.

    The Fed and their complicit banks must be abolished to save the Republic!

    It’s the only thing we can do. CRASH THE BIG BANKS NOW “Too Big Too Fail” apparently means “Too Big To Succeed” and “Too Big for their own Wallets”

    The sooner the better. Why don’t we ask a 3rd grade math student what he thinks? The real problem is that a politician who could do something about it has his own mathematical challenges about healthy economies. “Bite the hand that feeds him” (by indicting Banksters), or make millions putting children in the streets for power and profit.

    Apparently ALL politicians are going to make the same choice over and over again. They have always sold the souls of your children and their future and they always will. Take the big Banksters out of the picture. Build a local banking system that cares about its community and helps it thrive instead of sucking the life out of it by bribing and fixing the entire system for itself, taking us all of a cliff with it.

    Crash all the big banks now. Create new local Banks only = No more Wall Street Banksters.

    Problem Solved!

    J Glenn Lowe

    Die Banker Die – A Tribute to the Wall Street Banksters that suck the life from all of us and our economy just to get a nice Christmas Bonus –

  3. l vent says:

    I just heard a pretty disturbing story from a friend of my husbands. I guess he has been paying his mortgage on time all along and decided to do a credit check on his credit and discovered that the bank listed him as being $20,000. in default. He called his bank and asked why this is and where his payments have been going and they told him that his payments are going to other places. I guess they offered him a loan mod. with a reduction in payment of $1300,00 a month. WHAT IN THE HELL IS GOING ON HERE? I am thinking maybe these banks are trying to cover their butts with money from people who are paying to cover for what is missing from people who are not paying. I think maybe they are hoping paying customers wont find out. People who are paying on time might need to run a credit check on themselves. Maybe the bankstersare fearing a Government audit and are afraid they will be found to be insolvent. Has anyone else heard of this going on ??? This is truly frightening.

    • This is actually really common. The overwhelming majority of people we hear from lately have been making payments.

      What happens is the banks offer a modification to people who are current. They send a contract that’s signed by both parties; everything is in writing. They then accept the modified payments, sometimes for a few months and sometimes for much longer; a year or two.

      Eventually they tell the people that a permanent modification has been denied, that the interim payments have been going into escrow with the real loan falling into default, and if the homeowner doesn’t come up with an enormous payment very quickly they’ll foreclose. The homeowner complains and they foreclose shortly thereafter.

      It’s not to cover payments for people not paying; it’s theft, and it’s incredibly common. We spoke to one woman who’s case isn’t atypical. Her bank called her when she was a week late. She told them she was in the hospital, but was being released the next day and would send a payment. They told her she was eligible for a modification. She said great, made her payment, then signed off on the mod paperwork and made payments for 16 months. Eventually they told her a permanent modification was denied and if she didn’t pay $60,000 within a week they’d foreclose. She argued she had a contract and a few days later they foreclosed. Repeating: she never missed a payment, had a contract for a modification, and the bank foreclosed.

      It’s called fraud. Specifically, foreclosure fraud. It has nothing to do with people who don’t pay. It has to do with dishonest, reckless, irresponsible bankers who refuse to accept losses they signed up for and who the government — at every level — has refused to hold accountable in any way, shape, or form. Welcome to our world.

    • Andrea Guice says:

      Ask yourself, IF CSI (example) can find a “muderer” from a “hair strand” with FORENSIC SCIENCE, then, a “FORENSIC AUDIT” (YES! there is a such thing!) CAN FIND ANY FRAUD IN YOUR MORTGAGE LOAN!!!
      No court can foreclose with evidence of the “F word”, FRAUD! Get the “FORENSIC AUDIT” people! NOW! & sue them royally!

  4. Walter C. Spraggins says:

    Wow! This is Outstanding stuff. I would love to donate but I can not right now; anyway. The thing is, I am “in” a foreclosure kind of thing and have been for 5 years, 2 months, and 23 days, (not that I am counting) I have even been enjoined from entry into my own home and business after 12 years of property tax payment. It deals with lands purchased by patent from the US Gov. Who’s locations have been “Moved under” adjoining homes and fenced lands by order of a lower court heard in Walton County staring Judge Kelvin Wells and then Judge Howard Laporte and in support of Jay Odoms development Hammock Bay a CDD and did I mention the 35 million dollars in infrastructure loans secured by County bonds and the road that was paved across my land after they demolition my fence, restrained me, and then moved a Federal Gov. Section Line. The 1st DCA on Oct 14, 2010 issued a pro curium affirmation of the movement of a Federal Government Section Line in a complete reversal of well settled Florida Law and now I have half a house and I have to file against my Nabors to get them off my land, and they will have to file against their Nabors, and so on. The mortgage co. on the other wants to foreclose on the old legal description but they have that wrong anyway, seems the original description was not used, they used the description of a contiguous parcel of land I owed and every time it was “sold” or maybe it was only supposedly sold, it got compounded, so now they want that and my half of the house and they want the judge to allow them to ‘amend” the note and the mortgage. I’m the Appellant Pro Se (the guy who is not an Attorney with a fool for a client and they are both broke with no place it live, maybe: and at the same time) who is working to get this case (his case) into the doors of the supreme court of the State of Florida and or the USA; so I’ll give what I can. Thanks and keep it up; your paying forward and that makes the difference and one day soon I’ll be back with something I can contribute… till then do not stop… and Thanks.
    PS I could use professional help—(no joke; right; and its Halloween too)—if you could suggest a door to knock on I’ll follow up on it… for help that is and if not that is ok too.
    Oh by the way here are my case numbers.. because… I know everybody needs more stuff to read…1D09-5285 and 2005-CA-312

  5. housemanrob says:

    I don’t think Heath Ledger could have said it any better!

  6. hogwash says:

    I’m confused- I do not recall my lender ever disclosing to me that they were going to “securitize” my promissory note by bundling it with other notes. I also do not recall them telling me that my signature is what monetized that “negotiable instrument” -as a matter of fact they never told me that it was a negotiable instrument and would be sold several times to domestic and foreign investors. btw-did they loan me money or credit? Is it possible that my signature created it and they loaned me my own credit with interest? Isn’t “true consideration” and “full disclosure” 2 major factors in a legal contract? I thought banks by federal law could not loan credit and are also not allowed to loan theirs or their depositors money(?) Also- I am still having a hard time finding the banks/lenders signature on any of my paperwork- the only signature I see is allegedly mine which looks like a unilateral contract to me(?) Plus- I am still waiting to see the “Original Note” with my wet ink signature and I am told that all they have is a certified true copy of it. So who is the real party in interest or holder in due course?
    Can someone tell me if any of that is considered fraud, collusion, studied concealment, misrepresentation and counterfeit?
    anyway- just asking.

    • Stupendous Man - Defender of Liberty - Foe of Tyranny says:

      These are my opinions. I am quite willing to be proven wrong and invite anyone that has fact and information in conflict with my opinions to bring them forward, and to serve me up some crow.

      There is nothing that requires them to tell you it is a negotiable instrument.

      There is nothing that prohibits them from “negotiating” the negotiable instrument.

      It is/was a unilateral contract. There is nothing illegal about unilateral contracts.

      Those opinions are not intended to imply you haven’t been abused, or that your alleged lender has not violated regulation, law or statute. Just that you are not likely to find any traction in regard to those issues.

  7. Let’s see… ummm. . . the American public pays the taxes that pay the salaries of the Congressional delegations that hire the panel members and the agency directors with the funds from the taxes that are paid for by the American public. . . . . and if the foreclosures and evictions continue the economy will remain in a collapsed state making it less likely that there will be tax dollars to-pay-the-salaries-of-the-Congressional-delegations-that- hire-the-panel members-and-the-agency directors with the funds from the taxes that are paid for by the American public. . . . .ummm …and that may lead to decreases in salaries of the Congressional delegations who may then find themselves in position of facing foreclosure. . . just a little sense of consequence here for any of those Congressional leaders reading the blog…

    • RAMONA says:

      oh, but it wil l never be that bad, its never going to become OUT OF CONTROL to affect us. the courts in florida were even running off of the foreclosure money??? now they are worried they might have less money to run the courts? omg, where does it end?

  8. l vent says:


    • John says:

      1 vent,

      I don’t believe they should get our homes and should give back those foreclosed on. We were paying a monthly amount that we would be happy to continue when work is resumed.
      This would help the banks and investors too, otherwise they will not go for it.

      I agree the paperwork is not there in many instances but my experience is no matter how mad we get and how unjust the act is, if its an individual or a homeowner, you will be screwed and no matter how bad the bank or investor was, hiow unlawful, they will be saved. if it is proven beyond doubt that they were wrong, some poor soul or two will go to jail (usually one that spoke for us against the banks) and be the example (scapegoat) for them all.

      Money taks and they have the money and influence, their’s and now 700 billion of ours, the taxpayer. This proves my point of who’s to be helped to win this. How many homes would that 700 billion of paid off?.

      Better to come up with a foreatall so they get your money eventually rather than expect to come out not owing anything. Not being negative, but realistic based on history!

      • fioremom says:

        It’s easy to get worked up. I tried to express it in a song.

        I hope people like it.

      • RAMONA says:

        yes that is the way it seems to go…teh one who trys to protect us from the scum of the earth goes to jail. how much longer are we as a people going to let them rob us? they will be putting us in debtor jails soon. I mean america has more people in jail than any otehr nation.why is that?

    • RAMONA says:

      and want our social security in the stock market too

  9. RAMONA says:

    where is the protection that our taxes have paid for?

  10. RAMONA says:

    these banks are terrorists and traitors to the american people..where is our homeland security!!!

  11. l vent says:

    @John: So you say give the banks back all of our property and let them keep the houses they have already stolen? They can’t even prove they own our property or properly securitized this debt. Your later suggestion is a little more sensible. I dont feel sorry for investors who didnt do their homework and I. The only thing they cared about was getting richer off of the backs of you and me.I hope the Bankster Crooks,WALL STREET and any political party that helped them further their agenda and get us all to this terrible place in history BURN IN HELL AFTER THEY FIRST ROT IN PRISON UNTIL THE DAY THEY DIE.

  12. mAGGIE SIMI says:


  13. James M says:

    The argument that it is a choice between the home owners or the banks is false. This is spin from the banks.

    The banks are only trustees on the mortgage pools. It is the holders of the secured asset backed securities who invested in the AAA rated mortgage pools who have to take the hit.

    I will say it again. THE BANKS ARE ONLY THE TRUSTEES on the secularized pools.

    If a pool takes a loss it is the investors like the foreign sovereign wealth funds who should take the loss. For the US public to be making up the deterrence is wrong. They invested in something that turns out not to be a good investment. So sad. If they had done well they would have kept the profits, they did not, so must take their losses.

    They in turn may have an action against the Goldman Sacks or Moodies who sold or rated the bunch of dung they purchased. Not my problem. Not the problem of the US public or the US goverment if Goldman Sacks gets sued for selling horse manure.

    I will say it again. THE BANKS ARE ONLY THE TRUSTEES on the secularized pools.

    It is the investors in the pools who have to take the hit. That is what investing on wall-street is like, sometimes you make a lot of money and sometimes you lose your stake.

    It is a false proposition that we have to chose between the Banks and the Home owners.
    It is a false proposition that the US goverment needs to step in and make up the difference to save both.

    Shift the loss to the speculative investor, that is who should, by law, be responsible for their speculation.
    Sorry the exotic mortgage backed security you were sold by Goldman Sacks was not as AAA as they pretended, better luck next time.

    • John R. says:

      Wholeheartedly agreed! I was the 1st car jacking victim in the County in which I live. At gunpoint, I handed a notarized title over to the thief and watched him drive away. I found the car on a used car lot 2 weeks later, called the sheriff, had it impounded and tried to sue to get it back. They gave t to the car lot saying “I allowed” the transaction to happen. I’m not lying. But i ate the loss. I’d invested in a junker, redid the entire interior, rebuilt the tranny, replaced the entire front end and braking system and painted it. I had lot’s invested in time and money. I ate the loss. That’s the way business is. Sometimes you have to eat a loss. The investors? Too sad. Maybe they should be suing the banks for lying to them about the quality of the loans or the bad documentation that sometimes never even occurred. Whatever! They invested, it went bad…. sorry, you should have done some Due Diligence before investing!

  14. John says:

    One more comment.

    The banks were given 700 billion dollars to help them solvent. How mant dollars were homeowners given? I didn’t get a dime, did you? Do you expect to get anything? I don’t!

    My point is if it comes down to us or them, the banks will win every time. banks break the law, nothing happens, you break the banks law and serve time. Not right, but we all understand that’s the way it has been and is .

    We homeowners only hope is the fight between the banks and their investors. If helping us helps them, we have a chance!

  15. J Glenn Lowe says:


    Look at the example of the state owned banks in North Dakota, whose population has only a 4% unemployment rate. The Fed and their complicit banks must be abolished to save the Republic!

    Watch should we do? It’s so simple folks. It’s the only thing we can do. CRASH THE BIG BANKS NOW “Too Big Too Fail” apparently means “Too Big To Succeed” and “Too Big for their own Wallets”

    The sooner the better. Why don’t we ask a 3rd grade math student what he thinks? The real problem is that a politician who could do something about it has his own mathematical challenges. “Bite the hand that feeds him” by Indicting Banksters, or make millions putting children in the streets for power and profit. Apparently ALL politicians are going to make the same choice. They have always sold the souls of your children and their future and they always will. Take the big Banksters out of the picture. Build a local banking system that cares about its community and helps it thrive instead of sucking the life out of it. Problem Solved.

  16. John says:

    We CAN do both. THINK!

    Either we foreclose and cause the reappraisal of homes way below what they are now, (some are predicting in one more year homes dropping 40%) and as one said, have someone buy them that can afford them. This will screw the investors and get banks sued by investors that have just an many high priced lawyers as the banks have and what will be the cost of that? Or, forestall all foereclosures until the economy picks back up, folks go back to work and can resume paying as before in the amounts as before which saves the banks from investor fraud suits and keeps the appraisels at levels just as before. This keeps all three, Investors, Banks, and Homeowners happy, safe, secure and protected.

    Which is safer and better for America?

    Since Mods cannot help most folks due to no work which causes late payments of all kinds, credit cards as well as mortgages, I also submit credit scores be forestalled and resumed as they were before this period too!
    Simply add the forestalled years to the end of the mortgage time.

    Sometimes old country boy wisdom exceeds big college complicated thinking!!!

  17. John R. says:

    I don’t know about ya’all, but I studied my ass off learning the “Law” and how it applied to my profession before I’d even enter it. I learned the “Rules” and that’s what I worked my everyday life by. They were the deciding factor in each and everyone of my daily decisions that I made to run my business and my life.

    As an American, I feel I am better than no one, and no one is better than me.

    I stayed within the confines of the “Law” and that wasn’t easy, that wasn’t fun and ultimately, it wasn’t very profitable as a Bank took all I owned, and the “Law” let them.

    So, to answer the question Mr. Silvers places above…

    We live in a Country with Laws and Rules and since I am bound by those “Laws” and “Rules” then so is everyone else… and that means the banks.

    So I say… let em sink. It’s what they deserve. We’ll figure out another way.

    Clawback the Executive pay & bonuses and all the little hidden perks. Sell off their estates. Gut their Accounts. Destroy their Credit Ratings. And if possible, jail them.

    Some poor guy, down and out and broke beyond belief goes into a store and robs it holding his hand in his coat as if he had a gun, he get’s 7 years in prison. If he does it 3 times in California, he spends the rest of life there. He MIGHT have stolen $300? These arrogant Bastards stole Billions if not Trillions of dollars and put millions out on the streets, laughing and joking all the while, living a life of luxury and privilege.

    The penalty should fit the crime. But we don’t allow draw & quartering or stoning anymore.

    • James M says:

      I agree, some poor guy does life for 3 felonies. Some rich guys pay others to excute felonious documents, and do thousands of them, and they get to work out an argeement with the AG?

      Banks want an agreement with the AG’s that the AG’s will not prosecute and in exchange they will do home mods with little or no principle reduction ? That’s it, they get someone else to take a loss, (note investor) so as not to be so hard on the home owners, and take a commission for doing it ??????

      You are right. Fraud is fraud. Conspiracy to commit fraud. Enterprise engaged in fraud. Criminal RICO with equal jail for all, equity liable for all counts even if they did not personally do the deed. That is what criminal RICO is about. It is United States federal law that provides for extended CRIMINAL penalties and a civil cause of action for acts performed as part of an ongoing criminal organization. A criminal organization is one engaged in criminal acts, to further its gains or profit.
      Recording bad assignments of mortgage in the public records and and having them returned by mail is one of the uses of the US Mail that triggers RICO.

      Put the operations out of business. Put the criminals and their bosses in jail.

      Forget to big to fail, when we get to the point of arguing they are too big to prosecute we lose everything the nation stands for. the fundamental rule of LAW.

      No enterprise should be too big, or too interconnected to rich people and their assets, to be above the law.

    • RAMONA says:

      then make sure they dont get a job after their credit is ruined also

  18. Michael says:

    Not sure if it was him or somebody else that went on to say the choice is really preserve the capital structure of the banks for a little while, until they’ve bled the country dry, then — like a parasite that’s destroyed its host — they also fail.

    • RAMONA says:

      exactly, the upside down pyrimid is about to topple. they threw pennies to the pheasants then kicked them into the streets, what do they exspect to happen with no foundation? it is going to fall but was this planned all along to starve the people? to what end? the end of america as we know it?

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