Foreclosuregate – Our Friend and Colleague Michael Olenick of Legalprise on Dylan Ratigan

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>>> well, more now on the housi housing crisis in this country. the federal reserve is proposing another kick in the pants for american homeowners. they’re looking to do away with part of a 42-year-old law that allows homeowners facing foreclosure to get out of bad loans and refinance them,nge, homeowners would have to pay off the entire principle before that process could begin even if the loan can’t be proven as valid. as “the new york times” puts it — this just a latest blow to struggling americans and would you believe our judicial system– it was theer etically based on innocent until proven guilty, the burden of proof being on the one who would jail you or take your home. well, now the government the flipping that. helping banks pull off foreclosure by presenting a transparent paper trail. i asked mike ole nick about the level of difficulty facing homeowners who are trying to get the documents they’ve need.

>> we’ve seen thousands of docket entries to say it was a typo. it was that they filed for foreclosure or were on banks ti name. we’ve seen enter tris were we’ve seen, we’d like to be replaced. one judge summed it up best when they wrote back, this is not a typo.

>> and if you were to look at the other part of the legal system, murder trials, violent crime, rape trials, and the ease with which an accused murdererist can ge t away with a crime that is clearly connected to them based on a technical failure of the judiciary, compare that to the size of the technical failure op the banks part relative to people they are throwing out of their houses.

>> banks would be finished. they would even be finished if treated by the same standards as any other litigant in a regular civil case, which these are supposed to be. the only way they’re able to make this happen is because we’ve adopted basically completely different rules. we haven’t officially adopted them. they’re just being paid attention to. you’ve heard about florida’s infamous rocket docket where every presumption is held against the borrower, which is exactly backwards. absolutely. it goes back to the earliest days of the found of our country where they said, we’re not going to do this, where they set down many standards and for whatever reason, we decided to let this in our court system.

>> is it the whole point of this system that the banks use the retirement funds of everybody in america, the teachers, judges, cops, as the blackmail leverage to get the taxpayer to give them trillions of dollars and basically be able to take that money out and tell everybody to screw off?

>> absolutely. it’s a back door bailout. if we look at the likelihood of modification, a bank negotiating in good faith, the bigger a bank, the less likely the bank is to grant a permanent modification.

>> what is a little guy to do? you get to this point and you’re starting to describe a centrally controlled government bank-run country where they decide who gets to live where and who does what based on who’s paying out of our politicians. what do we do about it?

>> dig in and try to work.

>> work to find the documents. hustle for the documents. z zwl.

>> yeah, and also try to support people who are actively trying to work on this. a small group in florida really are the ones that have blasted this out to the whole country. people thought we were crazy six months ago. we were looking at document after document after document, but we see clearly forged signatures. we saw people being run over in rocket docket– absolutely. wasn’t uncommon to see you know, the retirees of florida who were taken by subprime thieves, some of them didn’t even know they were taking out mortgages, hobble out into homelessness on a rocker after a judge saying, good-bye. who were supposed to be hearings, where the judge would say, have you paid and the judge never, i never once saw a judge, even when lawyers were there, say, okay, bank, will you swear to me that you lent them this money. they can’t. they didn’t. the people are investors who would prefer, strongly prefer, to work with those borrows because they want to mitigate their losses.

>> something worth checking out. we thank him for his time to continue our exploration of the ongoing housing issues.


5 Responses to “Foreclosuregate – Our Friend and Colleague Michael Olenick of Legalprise on Dylan Ratigan”
  1. ted1 says:

    how can the banks have such power is it just because they have donated to all politicans campaigns can we just have one law passed have the bankers come to throw me out of my house i am in fl and gators will eat any kind of rotten trash. my lake is full of gators. you have to give them credit they really know know how to run a con.and you see they can make their own laws.lets fight back with real ammo words even from our lawyers have no teeth.angelo paid off the feds to stay out of jail $64.5 mill and bofa paid it for him.

  2. Flex says:

    Last time I heard about The Federal Reserve in the book ” The creature from Jekyll Island by Edward Griffin” has nothing to do with the U.S. Federal Government. The Federal Reserve is actually a hybrid, a cartel, a banking cartel system, owned by four families, The Rothschild, The Rockefeller, The Warburton, and The JP Morgan.

    Now, taking this as fact, how in the world the Federal Reserve can even have the slightest idea that they can suggest to implement a law that is 42 years old? What is even more demoralizing and insults the intelligence of millions of people in this country by suggesting to refinance everybody’s loans and will not take effect until all the principal is paid off even if the lender does not exist. This is to Welcome more Fraud!
    Is this the best they can do to cover up all the transparency of their wrong doing for almost a century? This is more than insulting, because it makes you wonder what the heck the Federal Reserve think they are and how can they imagine that the people of the greatest country in the world will take this load of crap?

    Don’t they realize that people are smarter today than 50 or 90 years ago? That technology dictates the future of mankind. Here we are in the greatest developed country in the world and we are taking this crap from this chicken shit called Federal Reserve. Why don’t we vote to audit them and put them in prison after we find out what we already know. Why do we need the Federal Reserve if we can all work together and pay for anything we need or want in cash in the form of a real monetary system.

    The Federal Reserve is a cancer cell that mutates as it grows in popularity by lending trillions of dollars to the Government, who in turn, lends it to many countries of the world, as we know today, they are bailing out Greece, Ireland, and very soon, Spain, Italy, and Portugal. The Federal Government keeps borrowing to spend the money in all the government programs to keep people happy with their lives style and all their employees happy by giving government jobs with salary increase every year just for their ego and power to keep people alienated and keep depending on government programs.

    The worse ordeal of this whole mess is that people and many generations will be paying interest for all this money borrowed from the Federal Reserve with their income tax for many generations to come, perhaps for hundreds of years.
    This is why the same people who created The Federal Reserve, were the ones who created and passed the income tax bill under the same President, right after the Federal Government passed the Federal Reserve. The irony of this ordeal is that the income tax bill is unconstitutional because it does not even exist in the constitution. If you want to learn the facts about The Federal Reserve and The Income Tax, please watch the video by Edward Griffin at the link above. I also suggest for everybody to watch many documentaries about Edward Griffin, specially about the income tax.

    It is very important that millions of people if not the whole country watch this clip from creature of Jekyll island and better yet, read the book and learn the real truth behind this renegade Federal Reserve that is nothing than the greatest Ponzi scheme that makes Bernie Madoff as little as an ant next to this elephant called Federal Reserve.
    The answer to fight this Goliath is at the end of this video. So if you would like to find out the plan of action, you must watch the video. After all, is your life, your freedom, your children, your family, your home, and your country at stake. Please share this site with everyone you know and those who you don’t know. The benefit will be the same if everyone organize and fight together, otherwise, the words from Thomas Jefferson will come true, and millions of Americans will wake up homeless with their children in the streets, something we are already seeing right now.
    How much more do we need to pay and how long do we need to wait before we do something? Haven’t we learn enough or don’t we have enough evidence to put away all the Fraudsters, the Banksters, and all their cartels accomplices to the crimes already committed.

    Would you like to stop this corruption immediately? Here is one idea that I read in a blog recently. Since we know that the banks sold our notes in Wall St as securities in the process of securitization to private investors, sometimes many times to other investors, and we just found out that they did not deliver the notes, did not transfer the notes to the trustee under the trust. And Since the trust does not have your note and they are not the note holder, they can not foreclose or collect a payment from you, then let me ask you this, Why are you sending your mortgage payment every month to a servicer with a P.O. Box number as an address, knowing that you don’t know who is the investor who bought your note, and you don’t know if they are the real note holder.

    If you don’t believe it, try to do a custody of your title or a chain of title search before it is too late. Millions of people sent their mortgage payments every months to servicers, so called note holders. But the irony of this whole ordeal is that they do not have the note, the assignment of the note, sometimes they don’t even are the owner of the debt. Would you like to know what will happen if after you paid your home after 30 years or whatever it took to pay it off, you expect to get the conveyance deed of the property? To find out that they do not have the title because they were not the original lender who supposively lent you the money, but now they are out of business. Do you know how many banks have gone out of business since 2007? How about an average of 130 banks per year. This means about 390 banks so far.

    Woaoh! I can not wait to see what is going to happen to all the title companies that will get millions of law suits for all the cover up after issuing toxic titles for all the millions of homes sold in foreclosure as REO in the last 3 years. If you are a consumer advocate or a paralegal, you better go to school and get your Attorney License in the next two or three years if you can, because consumers are going to need millions of Attorneys in the next 2 years to fight for the legality of their homes.
    Hopefully, this comment opens up your mind and your curiosity to learn more and do your due diligence to do more search about what is going on in the financial crisis today.
    God Bless You, your family, your friends, your neighbors, and your country!!!

  3. Thanks Michael!! When I’m referring to a small group in Florida that means you, and Lisa, and Lynn, Matt, Tom, April, Nye and everybody else.

    Everybody throughout the whole country: you can make a difference. Not only in your own cases but in your neighbors cases, your friends cases, and the cases of strangers you’ve never met and who never knew or will know that you helped.

    Anybody in foreclosure needs legal help, and for that the very best thing they can do is hire a top-notch foreclosure defense lawyer. We’re blessed with lots in Florida, but there are also great advocates throughout the rest of the country.

    But to everybody else; it’s more than the legal work. Dig in and root out the injustice.

    I’m working on an analysis of the Federal Reserve disclosures that came out last week. One item that stood out more than any other were a group of bonds (large loans to corporations) used to write “sub-prime credit cards” for GE. The money was lent to GE for virtually nothing despite that the credit cards were almost guaranteed to fail and likely carried sky-high interest rates: the only way they would have been able to borrow at this rate is if they took high interest and fees into account when making the loans. That is, it seems apparent that GE had predatory lending practices as a business model and when it came back to bite them an arm of the US Government bailed them out rather than letting them suffer the consequences of their repulsive behavior. These practices have to stop.

    Form your own groups. Lisa Epstein of Foreclosure Hamlet is especially good at showing you how to do this; then fight like mad. Fight for yourselves, your children, your community, and the foundation of our country. If this sounds over-the-top it isn’t; the fabric of our country is being ripped apart but individuals have the power to stop it. I know that your lives are busy — we all are — but, even though it sounds tacky, your country needs you. Whether you’re a billionaire or broke, young or old, man or woman, black, white, or any other color we’re all in this together. For the sake of yourselves, your country, and future generations fight this. You’ll suffer plenty of setbacks but, in the end, you really can make a difference.

    Quoting Ghandi: “First they ignore you, then they ridicule you, then they fight you, then you win.” We’ve come a long way but we still have a long way to go.

  4. Lucia says:

    How do we stop this “PROPOSED KICK IN THE PANTS” by the FED? Anyone have any ideas?

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