Service Member Abuse | A Foreclosure Problem Congress Couldn’t Ignore

A Foreclosure Problem Congress Couldn’t Ignore

After a news report showed banks were improperly foreclosing on members of the military, the companies are scrambling to fix the problems and camo-wash their images.

Some excerpts from the report…

Yet that’s what the entire mortgage industry is doing. And the reason for it is simple. The banks know that the military is one of the only widely respected institutions left in the country, and well-publicized instances of abuse of service members will cause a far bigger backlash than they have experienced to this point. What’s more, evidence of wrongful foreclosures on the military will lead to further scrutiny of their actions with other borrowers.

This is what you could call “camo-washing,” similar to the greenwashing that corporations employ to create an appearance of attentiveness to environmental issues. The banks bend over backwards for the benefit of members of the military they have wronged, to distract from the fact that they’re not doing the same for millions of others. It also works to enhance their public image, positioning them as sympathetic and responsible, willing to make good when they screw up.

But the logic is lacking. Banks are fighting any settlement to the foreclosure fraud scandal that forces them to pay penalties to their borrowers. But they’re showering service members with money and free homes. All the attention and care paid to military foreclosures simply underscores the fact that next to nothing is being done with all the wrongful foreclosures on everyone else. Almost three million families will get a foreclosure notice this year, just about the same number as last year and in 2009. But the banks are focusing on a small handful of military foreclosures.

Nobody denies that foreclosing on members of the military while they serve overseas is particularly egregious. But hardworking civilians duped into loans, ravaged by an economic meltdown and stonewalled in their effort to save their homes are not somehow less deserving than the men and women on the front lines.

Check out the article in full here…

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4closureFraud.org

Comments
9 Responses to “Service Member Abuse | A Foreclosure Problem Congress Couldn’t Ignore”
  1. Michael-Lynn says:

    Greetings IVENT,

    I agree with you almost 100%, but take issue with the “$10” and “$1” explanation, as it seems to me from my inquiry about these manner of stating what the amount was that was involved and perhaps signed under oath (and please correct me where I am wrong as the real truth needs to be known about everything), is that it is a matter of privacy that some people desire to not have subsequent buyers know what the prior deal involved. If any subsequent buyer wants to know the value, I think it is available from a realtor that has access to the sales prices of comparable properties in the area to dig out the actual prior sale price. It may be that there is something wrong in filing a document that hides the actual amount, but for purposes of contract law and sales of real estate, the $1 and other valuable consideration, establishes a minimal consideration for the transaction and “other valuable consideration” is most likely, just more of the same, but unsaid and not disclosed, if it is something otherwise, as in the meeting of the minds, buyer and seller can negotiate whatever the other valuable consideration is, which can be something more in addition to the $1, that I doubt anyone ever sees, that otherwise could be a gift horse also and worthless as a tooth loose horse.

    • l vent says:

      They never told us about the release of mortgage, it was hidden when they gave me a new pin# and hid the ORIGINATION under the OLD PIN. An attorney at my Recorders office found my old pin# and there it all was. The clerk told me they have not assiged a lien in 20 years and because of that my home is paid for. The HIDDEN RELEASE OF MORTGAGE LETTER READS LIKE THIS: KNOW ALL MEN BY THESE PRESENTS, that, NAME OF SECOND BANK WHO WAS F/K/A AS ANOTHER BANK IS A SUCCESSOR BY MERGER TO MY ORIGINAL LENDER, for and in consideration of the payment of the indebtedness secured, and of the sum of one dollar, the receipt whereof is herby adknowledged, does hereby REMISE, RELEASE CONVEY, and QUIT CLAIM unto HOMEOWNERS, its heirs/his/hers/theri,heirs, legal representatives and assigns all right, title, interest, claim or demand whatsoever they may have aquired in, through or by a certain MORTGAGE, bearing the date of________, and recorded on ________, in DOC#_________in the Recorders Office of_______County, on the premises therein described as follows, situated in the County of _________, State of ________, to wit: LEGAL PROPERTY DESCRIPTION. Signed, Notarized, and legally stamped and recorded at the Recorder of Deeds office. Along with a Legally recorded and notarized, Release of Mechanics Lien . The release of mortgage is legally recorded under the old pin, though a lien was never recorded under the new pin or on title, either.

      • l vent says:

        Why would my COUNTY RECORDER OF DEEDS OFFICE lie to me and tell me my house is paid for FREE AND CLEAR? I can live in it, sell it or do whatever I want with my home? They also have attorneys on site who will not give you the answers unless you ask the questions.

      • l vent says:

        Please take note of the wording by the second bank, SUCCESSOR BY MERGER WITH THE ORIGINAL LENDER.

    • l vent says:

      It was written in due and valuable consideration to the homeowners and their legal heirs, not another bank. The deal was with made with the homeowners and their heirs with the original lender who joined together with a second bank, successor by merger and sold us the mortgage for a buck which released the mortgage… You just can’t make this stuff up.

  2. l vent says:

    Yeah, War is hell on the homefront too! We are fighting for all of the peoples rights, and freedoms under the U.S. CONSTITITUTION, too…….This whole issue boils down to PROTECTING OUR National Sovereignty from a bunch of maniacal and diabolical fascist tyrannical ellite foreign Multinationals who are out to destroy America.
    They posed as American Institutions to destroy us with the debt THEY created TO — USE AGAINST ALL OF US. They DO NOT OWN OUR HOMES, they only PRETEND TO OWN A DEBT.
    They NEVER SECURED a COLLATERAL LIEN and that is WHERE THEY SCREWED THEMSELVES.
    That PROOF IS IN THE ORIGINATION FRAUD.
    _ THEY_ FLOATED WAY TO MUCH DEBT AND THAT WAS INTENTIONAL.
    THESE_ SAME_ DIABOLICAL SCAM ARTISTS AND MANIACS DID THE SAME THING IN WEIMAR GERMANY. THEY RING A NATION UP AND PULL THE RUG OUR FROM UNDER THE NATION IN ORDER TO BANKRUPT IT AND OWN IT BUY CALLING IN ALL OF THE _FAKE_ DEBT THAT THEY CREATED (WHICH CREATES AN ENGINEERED FINANCIAL COLLAPSE CATASTROPHE IN THEIR RIGGED MARKETS THAT THEY RIG WITH SPECULATION)
    _THEY_OWN THAT DEBT BECA– USE OF THEIR OWN RISK TAKING..THEY JUST WANT SOMEBODY ELSE TO PAY FOR THEIR RISK TAKING AND THAT WOULD BE THE ALL OF US.
    THE BANKSTERS ARE REALLY WHO ARE _INSOLVENT_.
    THE UNITED STATES GOVERNMENT SHOULD HAVE NEVER ALLOWED THIS TO HAPPEN, YET THEY ENCOURAGED IT.
    FANNIE/FREDDIE ARE NOT AMERICAN OWNED INSTITUTIONS. THEY ARE OWNED AND CONTROLLED BY THE FOREIGNORS, THE IMF.
    THAT DECEIT BY OUR OWN GOVERNMENT PROVES COLLUSION WITH THE FOREIGN ENEMY BUT ALSO WAS HIGHLY TREASONIST.
    THESE TREASONISTS WORKING FROM INSIDE OF OUR COUNTRY HAVE CA– USED A VERY REAL THREAT FROM THE FOREIGNERS WHO WANT TO DESTROY ALL OF OUR RIGHTS AND FREEDOMS GRANTED TO US UNDER THE U.S. CONSTITUTION AND THAT WAS INTENTIONAL AND INTENDED TO DO PERMANENT HARM TO ALL OF US.
    NATIONAL SOVEREIGNTY WILL PREVAIL UNDER THE U.S. CONSTITUTION.
    WE THE PEOPLE OWE NO ALLEGIANCE AND NOT MONEY TO U.N./NEW WORLD ORDER.
    THEY MADE $100 TRILLION OFF OF THE FRAUD THEY COMMITTED.
    OUR HOMES ARE PAID FOR FREE AND CLEAR BECA– USE OF THAT VERY PONZI SCHEME THEY COMMITTED.
    THEY WANT TO GET PAID FROM BOTH SIDES OF THIS SCAM.
    THEY CAN ALL GO TO HELL FROM WHERE THEY CAME FROM.
    THE FOREIGN OWNED MULTINATIONALS A/K/A WALL STREET AND THE BANKSTERS ENTIRE BUSINESS MODEL IS NO MORE THAN ONE BIG SCAM AND ONE BIG FRAUD ALONG WITH THE ENTIRE MORTGAGE INDUSTRY..
    THAT INCLUDES THE FEDERAL RESERVE BANKING SYSTEM OF DECIET.
    That ENTIRE FRACTIONAL RESERVE MONETARY SYSTEM is DESIGNED TO MAKE THE AMERICAN PEOPLE FAIL AND THE RICH GET RICHER.
    THEY KNOW THAT A NATION THAT IS IN DEBT, IS NOT FREE.

    • l vent says:

      THE PROOF OF THEIR PERNICIOUS, DIABOLICAL AND MANIACAL EVIL INTENTIONS ARE IN THE CREDIT DEFAULT SWAP INSURANCE AND THE HUGE TAX-PAYER FUNDED BAILOUT THAT AIG RECEIVED AND THE TARP TAX-PAYER FUNDED BAILOUT THAT THE BANKSTERS RECIEVED. THEY KNEW FULL F———WELL THEY CREATED A NATION FULL OF FRAUDULENTLY INDUCED FAKE DEBT THAT THEY NEVER CONTRIBUTED ONE DIME OF THEIR OWN TO CREATE.
      THEY NEVER WANTED US TO OWN ANYTHING BUT THAT FAKE , FRAUDULENTLY INDUCED DEBT.
      THEY ARE SOO GREEDY THAT THEY WANT THEIR CAKE AND THEY WANT TO EAT IT TOO.
      THEY WANT IT ALL, THE CREDIT DEFAULT SWAP INSURANCE MONEY WHICH IS WORTH 3 TIMES THE VALUE OF THESE UNDER WATER HOMES THAT THEY SUCKED THE EQUITY OUT OF AND THEY WANT TO BUY THE HOMES BACK FOR A SONG TO DO WHATEVER THEY WANT WITH, DEMOLISH, RENT OUT OR SELL TO THEIR SICKO FRIENDS.AND FAMILY,
      THESE ARE HOMES THEY _NEVER_ OWNED. THAT IS A FASCIST TYRANNY.
      THE UNITED STATES GOVERNMENT MUST PUT A STOP TO THAT FOREIGN MUTINATIONAL FASCIST TOTALITARIAN TYRANNY IMMEDIATELY.

      • l vent says:

        THE PROOF THAT OUR HOMES ARE PAID FOR FREE IN CLEAR IN THE ORIGINATION FRAUD. THE NON-EXISTANCE OF THE PROOF OF A LIEN AND THE PROOF IS ON THE DEED WE PAID $10.00 TO RENT OUR LAND . FANNIE MAE AND FREDDIE MACS BANKSTER COMRADES CAME ALONG AND CHARGED THE HOMEOWNER A FEE IN GOOD AND VALUABLE CONSIDERATION OF $1.00 FOR OUR MORTGAGE ( shh, that was supposed to be a secret)!!! TO CREATE COLLATERAL FOR THEIR PONZI SCHEME A/K/A THE CDO OR COLLATERALIZED DEBT OBLIGATION. THAT MEANS IN A NUTSHELL, OUR HOMES ARE PAID FOR FREE AND CLEAR. THE PROOF IS IN THAT PAY-OFF LETTER FROM THE SECOND BANK THAT RELEASED THE MORTGAGE TO US, THE HOMEOWNER.. GOD BLESS AMERICA!!!!!

  3. enough already says:

    I guess us civillians whom have worked a life time with the public, example i am a nurse. it was ok put me in a mortgage that was the highest end of my salary. make me pay down my debts that woulld only last 3=5 yrs just to get me in a house that 5 years later i cant afford 12 yr shifts are t much for a woman approaching 50, but now have no liquid money to help me keep my home what was wrong with a smalled mortgage i could afford . being scammed by wells fargo 1st duped to pay 10k added to an upside down loan because of deceptive practices of losing paper worlk, and now the same they hacking loan proccessors computers to move files out of modification. losing fed ex packages. i ahve had enough of the fraud please help us we are also in the trenches. in a differnent war.

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