Why the Foreclosure Mess Settlement Proposal Can’t Fix the Damage
Ever since this fall, when the mortgage industry’s robo-signing scandal first broke, people have been aware that banks have been illegally foreclosing on homes.
Now there’s a huge fight over what to do about that, mostly focused on a 27-page proposal that was supposed to represent the consensus of the 50 state attorneys general, but apparently doesn’t. On top of that effort came a report of a “shock and awe” modification push from the federal government, but as Yves Smith at Naked Capitalism details, it’s neither good policy nor practical.
One feature of both the attorneys general’s proposal and the “shock and awe” maneuver is speed.
The attorneys general are in such a hurry to find a solution that they haven’t even investigated the banks: They’re just relying on consumer complaints to define the problem. Similarly, the shock-and-awe plan involves an impossible six month deadline. As Treasury Secretary Timothy Geitner explained to Congress: “All parties have a stake in bringing this to resolution as quickly as possible” and “It’s very important that we try to bring this to bed as quickly as we can.”
See full article from DailyFinance: http://srph.it/epe9SQ
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Judge SOUD, who badly wants to steal my house, is not from VATICAN, he lives in Jacksonville, Fl…. Read “DEMOCRACY – THE PAINTED WHORE” by HAL O’BOYLE.
Stan,
Are we absolutely sure that it is not true what the AG wrote to you. I pray it is not true. However, in any case, how is it possible that an AG does not know the laws. This is scary! …..AND…you say he is the head of all the AG’s in 50 States???
Nancy
THE DEADBEATS JOKES:
# I don’t like Lawyers! Two Lawyers have eight opinions. Opinions are different but outcome the same – FORECLOSURE.
# All Lawyers & Judges make mistakes. The ones make MORE mistakes, the others – ALL THE TIME!
# The book, which completely changed my life? – The Florida Rules of Civil Procedure!
# The FL Atty. Gen Office: we are making the BREAKING NEWS – the BANKS – are GODS, and all Lawyers hired by them are – ANGELS!
# Foreclosure will stopped there where NOTHING LEFT TO TAKE!
Does anyone know how I can get a copy of the radio show that I missed today. I didn’t know it was on until 5:00 p.m. today. Please let me know if a CD or something would be available to me. Please read below!
Thank you….Nancy
I will be talking and questioning Attorney Melva Rosier on Modifications and Mediation at 12Pm on the Joann Hennessy Real Property Show. We will also be taking your questions. Tune your radio dial or computer on POWERTALK 1420 AM WDJA AT 12PM. View the podcast on the computer too. Join me — Carol C Asbury, Save My Home Law Group and Sponsor of this site for an informative hour.
Thanks for listening.
Carol C Asbury, Attorney at Law
I had property in the State of Maine. I refinanced on our retirement home that we built in 1989, to build an addition to our resident home in Massachusetts, to allow space for my Daughter and my two grandchildren.
This refinance was fraudulent since day one. Starting with an over appraisal of my home that was inflated by $200,000. This of course made my house upsidedown. Inflated our income by $2,500/month. This I imagine was not caught at closing at it was a non disclosed income loan. This I don’t understand as I certainly did have to disclose by pay stubs and 2 or 3 years of tax returns…..exactly what we did earn. There was a prepayment clause on the loan that is illegal in Maine. This I found out when reading the Forensic Audit I had done.
Our home was foreclosed on in January, 2010, but then again there was something else on the following June that mentioned foreclosure as well.
Since all this a year ago, I have found out so much. if I had known then, what I know now, I would never have left my home.
I have two Assignments of Mortgage. Both Assignments are signed by Robo-signers (Roger Stotts and Erica Johnson) and one also has co-consipirators as witnesses.
The first one was MERS giving, selling, transferring the mortgage to IndyMac Bank (who we did the closing with supposedly). The second was from IndyMac Bank to Deutsche Bank. Indy Mac was a Servicer at the time. It was no longer named IndyMac Bank (does this matter).
Last Spring, I had an occassion to speak with a customer service representative of IndyMac Servicing. I asked if either IndyMac or Deutsche on my loan? I was very quickly told NO and to send a fax to Correspondence Research Group (they gave me the fax number)….and they will be happy to get me this information. I have not heard back from them as yet.
I am sure if I knew where to look, I would find more fraud, but this is what I have come up with so far from the help of ForeslosureHamlet.
Do I have any recourse at all. From what I can find out Deutsche Bank (the bank who suppossedly has the mortgage) was high bidder at the auction so he purchased the home he already owned.
Do I need to give up the fight as there is no more that I can do or do I continue on….and do what, please?
Thank you for listening.
IT CAN BE FIXED !
It’s called ” QUIET TITLE.” It’s what the banks are quietly trying to do after they foreclose on your home. Many HOMEOWNERS may be upset about HOMEOWNERS in foreclosure applying for a ” Quiet Title “, but they shouldn’t because it’s in their best interest to stop illegal foreclosures and get the housing with ” Good Titles ” on the rise again.
Misplacing the blame on what the banksters and the news media have labeled as ” Deadbeats ” is far from the truth. These so called ” Deadbeats ” are just HOMEOWNERS who like the rest of the HOMEOWNERS who wanted to own a part of the American dream. Their purchasing of homes is what created the steady increases of property values which EVERY HOMEOWNER benefited from. Now, the banksters want to steal these homes , for FREE, that they have foreclosed upon. Had the banksters and Wall Street not created this Ponzi scheme, without jepodarizing TITLE, all HOMEOWNERS would continue to benefit from their increase property values.The Flippers who flipped homes to profit from their increased property values would, also benefit. Homes wouldn’t be UNDERWATER in property values.
The sooner judges, in their states, STOP ALLOWING banks and their foreclosure attorneys to illegaly foreclosure on HOMEOWNERS, the sooner HOMEOWNERS can move to the next step, QUIET TITLES, that will allow America’s economy to regain it’s strength. The judges who knowingly allowed these fraudulent foreclosures, nill attorneys whoallowed themselves to be used by the banksters and Wall Street, politicians, government officials and regulators are all not immune to jailtime.
Is a “Quiet Title” too late for me to get? My home was foreclosed over a year ago. The bank still has the house as far as I know.
If it is not too late, can you please explain a little more about the purpose of this quiet title and where does one get this?
Thank you….Nancy
well the following are all substantiated allegations but sorry mr geitner and mr bernake and mr walsh of the occ. the jig is up and we all know you all approved all this bank bs and all the fraud. you approved it allegedly by looking the other way.
the policy of forebearance is the official name and they want to cover it all up because they are afraid that if the cat gets out of the bag it will sweep thousands of federal governement and state regulators out of office including some of the alleged corrupt ags along with it. when the ny state ag says he wants no part of iowa ag sellout proposal. he means it.
20 billion for 9 $ trillion dollar fraud on american homeowners and the fraud continues with this hamp 2 bs.
come 2012 many of these loans will reset to 2.5 percent.
get the picture. when that happens most of the banks will go under.
the cash flow will stop. our mortgage payments will drip by 50 percent or more.
I say a national boycott of all national banks and the big lenders like gmac and ally and sue the thugs who are stealing our homes is in order and lets show the feds and the banks who is running the show.
no deposits no returns no loan no cash checking no nothing. until thay make full restitution of $ 9 trillion dollars to american homeowners. scrap hamp 2 and nothing but more bs and bait and switch and coverup.
and kick out geitner bernake and walsh and all their senior staff. and clean house .
that includes the corrupt ags as well.
that shoud about do it I think
and if there is a HAMP it is federal statutory law NOT voluntary cowchips like they been selling.
these guys in treasury occ and the regulators and the ags think we all middle class homeowners are just a bunch of dumb bums.
we all boycott the national banks for six months they will be thinking about that mentality for a long time and how to change it quick.
david b.
Attorney generalFrom Wikipedia, the free encyclopediaJump to: navigation, search
In most common law jurisdictions, the attorney general, or attorney-general, is the main legal advisor to the government, and in some jurisdictions he or she may in addition have executive responsibility for law enforcement or responsibility for public prosecutions.
The term is used to refer to any person who holds a general power of attorney to represent a principal in all matters. In the common law tradition, anyone who represents the state, especially in criminal prosecutions, is such an attorney. Although a government may designate some official as the permanent attorney general, anyone who comes to represent the state in the same way is referred to as such, even if only for a particular case
above is the definition of an attorney general.
Because so many people are being abued by the banks,, by foreclosure attorneys, and some courts,is there a way for a state like Florida and New York to appoint a temporary attorney general knowledgeable about foreclosure law and the criminal intent perpertrated against the the many abused citizens of the state?
Geitner says all parties want to bring this to resolution as quickly as possible….What parties? Have We the People been asked our opinion or solution ? They know damn well what we would say. They want to rush it…before all lawsuites are started. A criminal always rushes from the scene of the crime…and many times returns to the scene after the crime has been done.
It took many years to plan this crime, many years to do the crime…and they want to quickly resolve it ??? This crime calls for arrests and indictments. Yes, arrests can be done…just as another comment mentioned. Arrest the the small guy, they will talk…names will be mentioned who gave the orders…AND OTHER VALUABLE INFORMATION……or they will face prison themselves. Crimes are solved this way.
This government is so corrupt they themselves are criminals in aiding and abetting. They knew of the crimes before the homeowners did and did nothing… AGAIN…I will tell the true politician: ONE ACTIVELY ENGAGED IN POLITICS : OFTEN — USED WITH IMPLICATIONS OF SEEKING PERSONAL OR PARTISAN GAIN, SCHEMING, ETC. WEBSTER’S NEW WORLD DICTIONARY….THAT HITS IT RIGHT ON.
Homeowners will not tolerate whitewashing the fraud….the crime reeks throughout all mortgages. THIS WAS AND IS A DELIBERATE ACT OF CRIME…PREMEDITATED……MAKING THIS A MORE SEVERE CRIME….
AND….WHERE IS THE JUSTICE DEPARTMENT…HIDING WITH OBAMA ??? IS THAT NOT THEIR JOB TO HANDLE THIS CASE??? CAN WE EVEN TRUST THEM?? I SAY NOT…SINCE NO ONE HAS EVEN HEARD A WORD FROM THEM EITHER….AT THIS POINT ONE CAN ONLY BELIEVE THE ONLY JUSTICE IS IN THE DEPARTMENTS NAME…
As far as the 50 AG’s go….they have done nothing….a waste of time and money….THEY FOUND AND SAW THE FRAUDS…THAT WAS ADMITTED….AND THE AG’S CANNOT HANDLE A FEDERAL CRIME… SO THEREFORE..DO THEY NOT KNOW HOW TO OR WHO TO GO TO WITH THE FRAUDS AND CRIMES THEY FOUND.? KNOWING AND SEEING THE FRAUDS AND NOT DOING A DAMN THING ABOUT THEM…ARE THEY NOW CRIMINALS ALSO?
DIDN’T MR. MILLER FROM IOWA KNOW ANYTHING WHEN HE RUSHED TO GATHER ALL AG’S ?? HIS COCKY MOUTH AND HIS LACK OF KNOWLEDGE ONLY SAY’S HIS MOUTH SPEAKS FASTER THAN HIS BRAIN CAN THINK.
Don’t the matter how long ‘THEY’ are ramming and ramming their TRASHCAN, however, this is time comes to CLEAN IT UP!
Something stinks. I have written my AG in Wis about a Foreclosure Mill that used fraud to obtain 2 houses from me. Wells Fargo was the servicer. The AG says they don’t get involved in private actions. They suggested I hire an attorney.
I was communicating with the Senior VP of WF located in Des Moines Iowa. AG is Tom Miller the head of the 50 AG’s. I have a letter from WF that states robosigning is allowed in a judicial State. Tom Miller can’t even keep his own State of Iowa in order. Something stinks. How did Tom Miller get the job. An AG that does not understand MERS or Robosigning. I am going to send the letter to all websites. Anyone that wants a copy, call me.
Stan Putra
Racine WI
262 321 1282
Geitner said that all parties want to bring this to resolution as quickly as possible…I don’t see the party that represents the American People here, or the American people represented anywhere in these talks, which by the way is the most important party of all
Affidavits ARE allowed in judicial states. The bank employee who signs the affidavit is to review the mortgage, knows that the bank owns it and reviews of the foreclosure…Their signing say’s they did this.
( I think that is how it goes ). And notarizes the affidavit to certify or attest they did this.
Robosigning got the name from the affidavits being signed by employees who never had reviewed anything…took 30 seconds to sign..that was it. They had boxes of rubber stamps of notaries unbeknown to them..that they used to rubber stamp the affidavits and sign…this is the Robosigning fraud…WF just didn’t tell you what they did that was fraud…and he is wrong…Robosigning is NOT allowed in judicial states…. but affidavits are…done the proper way without fraud.
In non-judicial states affidavits are not allowed. If a foreclosure has affidavits than the homeowner has to sue them…making it a court case on the foreclosure. I hope I have this all right. .
Non-judicial…affidavits are NOT allowed. .
We The People owe NO allegiance to the NEW WORLD ORDER/UN/LUCIFER/THE GREAT SATAN. ‘IN GOD WE TRUST’ WE OWE OUR ONLY ALLEGIANCE THE UNITED STATES OF AMERICA, THE U.S. CONSTITUTION AND THE U.S. BILL OF RIGHTS. GOD BLESS AMERICA. We The People WILL NOT be tricked nor decieved OUT OF OUR FREEDOM. No matter what CHAOS they may create. THIS IS OUR COUNTRY, ONE NATION UNDER GOD, INDIVISIBLE WITH LIBERTY AND JUSTICE FOR ALL. WE WILL NEVER GIVE UP OUR COUNTRY, THIS IS OUR COUNTRY. WE THE PEOPLE ARE SOVEREIGN, WE THE PEOPLE ARE INDIVISIBLE..