Nearly 50 Percent of Palm Beach County Mortgages Underwater, and it gets worse from there
Nearly 50 percent of Palm Beach County mortgages underwater or dog paddling like mad by Kim Miller A report released today by the Santa Ana, Calif.-based CoreLogic found 44.3 percent of homes _ 147,643 _ in Palm Beach County with a mortgage are worth less than what is owed on their loans. Another 3.9 percent … Read more
Huffington Post | Underwater Homeowners Gather To Talk ‘Housing Hell’ in Tallahassee
Underwater Homeowners Gather To Talk ‘Housing Hell’ “Wednesday is the second annual ‘Rally in Tally,’ so I know that a number of our most important activists are going to be home preparing for that,” she said in a phone interview on Monday. Coursen’s organization, the National WaMu Homeowners Support Group, is one of several Florida … Read more
Bloomberg | BofA Segregates Almost Half of its Mortgages Into `Bad Bank’
BofA Segregates Almost Half of its Mortgages Into `Bad Bank’ Bank of America Corp. (BAC), the biggest U.S. lender by assets, is segregating almost half its 13.9 million mortgages into a “bad” bank comprised of its riskiest and worst-performing “legacy” loans, said Terry Laughlin, who is running the new unit. “We are creating a classic … Read more
Rally in Tally | The Restoration of Justice in Florida
The Restoration of Justice in Florida The report just posted on the linked website below will be hand delivered to each of our Florida State Legislators at tomorrow’s rally in Tallahassee. It will also be delivered in one form or another to Chief Justice Canady of the Florida Supreme Court, the Florida ACLU, The Florida … Read more
By the Numbers: A Revealing Look at the Mortgage Mod Meltdown
By the Numbers: A Revealing Look at the Mortgage Mod Meltdown by Olga Pierce and Paul Kiel ProPublica For the past year, we’ve been digging into the administration’s fumbling efforts [1]. We’ve crunched a lot of numbers along the way, and now we’re sharing what we found – including loads of previously unreported data. Using … Read more
David J. Stern’s DJSP Letter to the State Agency for Workforce Innovation “Mass Layoff of 96 of its Remaining 150 Employees and the Company May Cease to Operate”
David J. Stern’s DJSP Letter to the State Agency for Workforce Innovation ~ 4closureFraud.org Tweet
NBC Discusses MERS w/ Video | Counties Seek Millions From Mortgage Giant
Click through to view Counties Seek Millions From Mortgage Giant Most Americans have never heard of it, but this mortgage industry holds interests in 50 percent of all U.S. home loans. No, not Fannie Mae, or Freddie Mac either. Mortgage Electronic Registration Systems, otherwise known as MERS, is a private firm that tracks ownership in … Read more
Fraudclosure | “Nobody under this agreement will go to jail for that theft.”
“Kevin Matthews had all his possessions stolen from him, and nobody under this agreement will go to jail for that theft.” ~ David Dayen over at Firedoglake has an interesting addition to the debate on the 27 page AG settlement. There is a field hearing of the House Oversight Committee in Baltimore this morning and … Read more
PB Post | Palm Beach County foreclosure activists joining statewide rally today in Tallahassee
Palm Beach County foreclosure activists joining statewide rally today in Tallahassee By Kimberly Miller Palm Beach County homeowner advocates have organized a bus trip to Tallahassee this week hoping to raise awareness about the ongoing plight of people in foreclosure and concerns they have about how banks are repossessing homes. Two buses are expected to … Read more
Naked Capitalism | Mortgage Settlement Term Sheet: Bailout as Reward for Institutionalized Fraud
Mortgage Settlement Term Sheet: Bailout as Reward for Institutionalized Fraud American Banker posted the 27 page term sheet presented by the 50 state attorneys general and Federal banking regulators to banks with major servicing operations. Whether they recognize it or not, this deal is a suicide pact for the attorneys general in states that are … Read more
False Statements | 50-State Investigation
False Statements 50-State Investigation Action Date: March 8, 2011 Location: West Palm Beach, FL The terms of the possible settlement of the 50-State Investigation of mortgage servicer abuses have now been released. For the most part, the settlement would require servicers to do exactly what they are already required to do. For example, according to … Read more
The Ghost of MERS Past WILL Haunt Any So-called “Settlement”
~ 4closureFraud.org Tweet
