4closureFraud.org Featured in the Florida Bar News | Who owns the note? Paperwork problems still plague foreclosure actions
Never thought we would have been featured in the Florida Bar News in a positive light, but hey, maybe we are making a bigger impact than anticipated… ~ Who owns the note? Paperwork problems still plague foreclosure actions Excerpt from the report… Michael Redman, a founding member of 4closurefraud.org, a citizen group based in Palm … Read more
Photo From #OccupyWallStreet | Wonder why BofA has a shredding truck parked in front?
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SEC Proposes Ban on Magnetar-Like Deals
SEC Proposes Ban on Magnetar-Like Deals by Lois Beckett ProPublica The Securities and Exchange Commission yesterday unveiled proposed rules to ban hedge funds and banks from assembling risky securities, marketing them to investors and then immediately betting against their own creations, reaping profits when they fail. The rule would also ban firms from setting up … Read more
1-800-ROBOSIGN | Foreclosure Complaint? Stand By for New Toll-Free Number
Foreclosure Complaint? Stand By for New Toll-Free Number It probably won’t include “1-800-ROBO,” but big banks are preparing to launch a toll-free number to find consumers harmed by problems in foreclosure processing. The effort to find consumers is an outgrowth of the controversy over so-called robo-signing and other problematic foreclosure practices. Last spring, regulators ordered … Read more
Fannie Mae Fail | Heated Exchange – New Buyer Can’t Move in because Renter Won’t Move Out (Video)
Tenant, owner get in heated exchange over foreclosure LITHONIA, Ga. — Officials with government mortgage giant Fannie Mae said they’re investigating a DeKalb foreclosure sale gone horribly wrong. The new buyer can’t move in because a renter won’t move out. Channel 2′s Jim Strickland was there when they clashed in the driveway.”This signifies that I … Read more
Trashed Out | Jackbooted Thugs Hired by PNC / Safeguard Properties Broke Locks, Stole Cat, Stepped on Daughter, According to Suit
Contractors broke into Windgap home, couple says in suit Contractors working for an Ohio property management company broke into a couple’s West End home at least three times, stole their cat and other items and damaged the property, the couple claims in a federal lawsuit filed on Wednesday in Pittsburgh. The complaint by Ken and … Read more
Victory | Court Order Stops Foreclosure – Homeowner “We’re not trying to get a free house, We’re trying to save the house from Foreclosure Fraud”
Rick Sharga, senior vice president with RealtyTrac, a national foreclosure website, said lenders likely can simply restart the foreclosure process if they need to correct faulty paperwork. But he said the prove-you-own-the-mortgage-note issue could become serious. “If you can’t prove that I owe you money, that’s a problem,” he said. “It could throw the whole mortgage … Read more
Must See Video | Paralyzed Oregon Man, Living on $22,000 a Month and Able to Pay, Fights Bank of America Foreclosure
Watch the video above before reading the rest of the story at Oregonlive.com ~ Paralyzed Oregon man, living on $22,000 a month and able to pay, fights foreclosure Robert Galanida was a skinny teenager when a drunken driver rammed the pickup he was riding in, hurtling him to the blacktop and paralyzing him from his … Read more
Lasalle v. Glarum – Team Ice – The Insider’s Briefs Submitted to The Appellate Court!
Lasalle v. Glarum – Team Ice – The Insider’s Briefs Submitted to The Appellate Court! There is a very real and a very profound battle raging across this country. Actually there are many wars and they are not just limited to this country. All around the world in fact, real people are rising up against … Read more
NPR | The Return Of Toxie the Toxic Asset, In other words: Toxie lives!
The Return Of Toxie Last year, as part of a reporting project, we bought a toxic asset — one of those complicated financial instruments that that nearly brought down the global economy. We spent $1000 of our own money and bought a tiny slice of a bond backed by mortgages. We paid just a fraction … Read more
Mark Stopa | Letter to Judge Bergmann RE Motion to Quash Denied w/o Hearing – “It’s clear to me that the Court’s ruling is erroneous”
Tampa Judges – Expediency Over Accuracy? Ever since the senior judge system ended in Hillsborough County, I’ve had one frustrating experience after another with the judges in Tampa. It’s gotten so bad recently that I’ve often wondered “do you care about accuracy, or just expediency?” Today, for example, I received an Order from Judge Bergmann … Read more
Jeffrey Stephan | GMAC Takes Steps to Fix Its Problems in Mortgages
A review of roughly 25,000 loan files has “not found one instance where a borrower was foreclosed on without being in significant default” ~ GMAC Takes Steps to Fix Its Problems in Mortgages GMAC Mortgage LLC, the mortgage servicer that vaulted “robo-signing” into the headlines, says it has overhauled its foreclosure procedures. The unit of … Read more
William Black: Why Nobody Went to Jail During the Credit Crisis
William Black: Why Nobody Went to Jail During the Credit Crisis The FBI is no longer chasing White Collar Criminals Choose your player to listen: RealPlayer WinAmp Windows Media MP3 James J Puplava CFP with William K Black PhD Jim welcomes Professor of Economics and Law William Black to Financial Sense Newshour. He explains … Read more
Steven Pearlstein | Mass Refi’s and Granted Immunity from Lawsuits Stemming from Loans Issued During the Bubble
Steven Pearlstein: How about Refi.gov The best proposal I’ve seen comes from Glenn Hubbard, a former economic adviser in the Bush White House, Chris Mayer, his colleague at Columbia Business School, and Alan Boyce, a trader in mortgage bonds. The trio’s idea is to order Fannie and Freddie to reduce its fee to a flat … Read more
Bank of Japan | U.S. Foreclosures, House Prices, and the Real Economy
Foreclosures, House Prices, and the Real Economy Atif Mian, Amir Sufi, Francesco Trebbi Abstract A central idea in macroeconomic theory is that negative price effects from the leverage-induced forced sale of durable goods can amplify negative shocks and reduce economic activity. We examine this idea by estimating the effect of U.S. foreclosures in 2008 and … Read more
