KABOOM | “Fraudulent Conspiracy” Michigan Counties, Oakland and Ingham, File Unprecedented Foreclosure Fraud Suits Against Fannie and Freddie

Michigan counties file unprecedented foreclosure fraud suits

Counties, states may have lost tens of millions

Two Michigan counties, Oakland and Ingham, are suing some of the biggest players in the mortgage industry for what one official called a “fraudulent conspiracy” to avoid paying state and county property transfer taxes.

Oakland County Treasurer Andy Meisner is suing mortgage giants Freddie Mac and Fannie Mae in the nation’s first federal lawsuit seeking to recoup tax payments never paid on properties that were transferred several times during the height of and during the foreclosure crisis that has gripped the nation over the last few years,

“I do think it’s fraudulent and I do think there is strong evidence to suggest there has been fraud. I do think it is a fraudulent conspiracy,” Meisner said. “We are identfying the people involved and we are systematically working to hold them accountable.”

While Ingham County Register of Deeds Curtis Hertel Jr. would not go so far as to allege a “fraudulent conspiracy” he says that the aim of his lawsuit is to find out just how deep the malfeasance went.

“This is about getting to the truth,” Hertel said Wednesday, standing in front of one of the many foreclosed and empty houses in the city of Lansing. “I believe the crisis has been further exacerbated by a systematic attempt to avoid state transfer taxes in my office.”

Check out the rest here…

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4closureFraud.org

h/t nakedempire

Comments
12 Responses to “KABOOM | “Fraudulent Conspiracy” Michigan Counties, Oakland and Ingham, File Unprecedented Foreclosure Fraud Suits Against Fannie and Freddie”
  1. An East-Coast (PA) loss for a pretender-lender in bankruptcy; good agency law discussion (as well as other things):
    http://bryllaw.blogspot.com/2011/06/pa-bankruptcy-decision-loss-to.html

  2. Tim Bryant says:

    I bet this will start the dominos falling with other counties nationwide. The GSEs cannot claim immunity, as the Tucker Act prevents immunity when it involves taxes.

    Bravo !!

    • leapfrog says:

      Did you see the comment in the full article about how this might not be good news? The poster stated that by suing for such a low amount he could be setting a precedent. Does anyone think there is any merit to that claim?

      • Tim Bryant says:

        That would only be damages to the county. It does not bar any fraud claim from a borrower. It may even bolster such claims. I don’t consider this bad at all.

  3. Diana Cessna says:

    They make the same fraudulent claims when banks sell Fannie or Freddie REO. I’ve repeatedly talked about how the addendums attached to REO purchase contracts state terms that are misleading and not true. Just because you force purchasers to sign addendums disclosing that you are breaking the law, doesn’t allow you to break the law.

    Liar Liar pants on fire… This is a direct condition in a Fannie Mae purchase addendum that is required and attached to every Fannie Mae REO purchase:

    “If Fannie Mae is the owner and the Seller hereunder, the Purchaser acknowledges that Fannie Mae is a congressionally chartered corporation and is exempt from realty transfer taxes pursuant to 12 U.S.C. 1723a(c)(2). ”

    Whether they are indeed the owner and/or Seller is another issue on these properties but that’s another topic.

    Contact me if you’d like a full copy of this addendum.

  4. l vent says:

    WOOHOO!!!!!!!!! Wake up America!!! Just stop paying. They only have us by the cahones when we keep paying for the FRAUD.
    THAT DEBT WAS FRAUDULENTLY INDUCED A SPECULATION OF OUR ABILITY TO PAY.
    THEY COLLAPSED OUR ECONOMY INTENTIONALLY TO ENSLAVE THE PEOPLE.
    CHECK OUT THE YOU TUBE VIDEO ENTITLED: CNBC ILLUMINATI CRASHES STOCK MARKET.
    THEY HAVE INTENTIONALLY CREATED A NATION OF DEBT ZOMBIES.
    Check out the latest Keiser Report: http://maxkeiser.com/
    Max said is time to say fongul to the IMF. That is Italian for F—You
    The IMF OWNS FANNIE AND FREDDIE.
    TIME TO STOP THE ENSLAVEMENT OF THE AMERICAN PEOPLE BY THE NEW WORLD ORDER.
    TELL CONGRESS, NOT TO RAISE THE DEBT CEILING. THAT DEBT WAS CREATED OUT OF THIN AIR TO ENSLAVE US.
    I love Ron Paul’s idea. He was on the Kudlow Report last night speaking about how he is going to put a new bill before Congress to LEGALIZE IT, NOW.
    Time for America and the world to WAKE UP AND STOP BEING FORCED INTO DEBT SLAVERY.
    TELL THE IMF WHO OWNS FANNIE AND FREDDIE IT IS TIME TO RESCIND ALL OF THE FRAUDULENTLY INDUCED DEBT THEY HAVE CREATED.
    IT IS UNSUSTAINABLE.
    THEY CANCELLED THE NOTES AND ALL OF THE DEBT THEY CREATED WHEN THEY INTENTIONALLY CRASHED OUR ECONOMY AND SENT OUR JOBS OVERSEAS.
    .

    • l vent says:

      It is about time someone had the guts to take on the ORIGINATORS OF THE PONZI SCHEME, IMF OWNED FANNIE MAE AND FREDDIE MAC. THEY ARE THE MAIN FRAUDSTERS WHO PUT THIS DIABOLICAL SCHEME IN ACTION OF SELLING AMERICA OFF TO THE GLOBE. THE U.S. GOVERNMENT IS CORRUPT AND LET US THIS HAPPEN. TIME TO SEND ALL OF THESE CORRUPT TREASONIST POLITICIANS PACKING. THEY ARE EITHER BOUGHT BY THE NEW WORLD ORDER OF THEY ARE IN THE NEW WORLD ORDER. TIME FOR THE AMERICAN PEOPLE TO SAY FONGUL TO GLOBAL GOVERNMENT AND ALL OF THE CORRUPT REPUBLICONS AND DEMORATS WHO PUT US HERE!!!!!!!

      • housemanrob says:

        STOP PAYING! STOP NOW! STOP…STOP…STOP……………NOW THEY WILL ALL GO BROKE. REMEMBER, THEY CANNOT JAIL US FOR FAIURE TO PAY MORTGAGES. WE WIN!!!!!!!! END OF STORY!!!

      • housemanrob says:

        Vent, I thought that was fungoooooooooooooooo!

      • l vent says:

        You are probably right houseman! I wish I had an Italian curse word spell checker. All of my relatives who came from the old country are dead now. I wish they were still here. They made me laugh all of the time.

      • housemanrob says:

        My Dad looked at a menu one time and asked me……….what is pasta fagioli? (he pronounced it as spelled, I ALMOST FELL OUT OF MY CHAIR! By the way, you can call me Rob……….lf you wish.

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