60 Minutes | Fraudclosure – There Goes the Neighborhood

Bank foreclosures and abandonment are causing high home vacancy levels in neighborhoods across the country. Scott Pelley travels to Cleveland, a city that’s fighting back against blight.

Read Story: There Goes the Neighborhood



12 Responses to “60 Minutes | Fraudclosure – There Goes the Neighborhood”
  1. anonymous says:

    I have what I think could be evidence of wrong doing in Reno Nevada in early 2000’s where a mortgage agent works with Les Zieve to steal a home, and then a ‘mortgage agent’ type person resells the home to another member of the loss-incurring family at a huge price. Not at all clear what went down. But I know other details that will pertain.
    Very odd.
    Any class action lawyer may contact me, and I will provide the ‘evidence’, which is very curious, and could be of use.

  2. lvent says:

    An attorney who I spoke with over a year ago told me….”The banks can’t understand why people even want to stay in these underwater homes.” Well Mr . Attorney…. The homes were never worth those prices….those prices only existed in cyberspace…..those prices were born out of gambling and speculation and never really existed…and they never lent us that money…It was all a mind game…. a sham and a fraud!!!!!

  3. Every time the bulldog a home the city also loses property taxes to the community for schools etc, and then more people get fire losing their job.. and so on… and so on…so the Banks also saves money by not paying the property taxes anymore once its bulldog

  4. mario kenny says:

    She signed her name to a contract? foolish lady deserves to lose her home and everything she owns, it is these people who, with ignorance has made their contribution to the fraud and in part why it has not been solved.

  5. indio007 says:

    Those people that felt some moral obligation to pay their mortgage almost made my head explode. What fools!

    Read the first chapter of this archaeological and historical work on debt.
    Debt: The First 5,000 Years


  6. Stanley Rogers says:

    This is 60 minutes, they can’t get too-in depth or point the finger at the real perps, however it’s good publicity to tell the story of the wreckage.
    Remember, in many towns, the council, the jurists, commerce big wigs, are good friends with real estate investors and developers. To have a house snatched via origination fraud, servicing fraud and finally fraudclosure is a great way to level old neighborhoods. This is what evil thinks people! There are more of us that need homes.

  7. StuckinSoPa says:

    What nice, up-standing, responsible citizens.

    Too bad that they don’t have any business sense. It’s a legal contract dammit, a business decision, nothing more! With the rewards and penalties for compliance or non-compliance of the terms of the contract written right into the contract. Banks are like any big business, and businesses walk away from bad business decisions every day and take the short term lumps from not upholding their end of the contract. I hate it when people are brainwashed that it is somehow their “moral obligation” to drown in debt until it destroys them.

    Morality, honesty, integrity have NOTHING to do with a legal contract, there is only the signed contract , with conditions, terms, rewards, and penalties all spelled out.

    Remember, when you deal honestly, morally, respectfully, with integrity, WITH AN ENTITY THAT POSSESSES NONE OF THSOE QUALITIES, you lose!

    Uphold the letter of your contract……or don’t! Leave morals and emotion out of the equation!

    • Fred Grundy says:

      On the flip side, the Banksters always claim they need to fraudclose partly because of “contract law”.
      When you go into a neighborhood, set people up to fail, that is no contract. No one is arguing this, that there were no contracts to begin with. The whole 9 yards is underpinned by, in the words of criminals, ” some loser who signed.”
      No one would sign a “contrac”t where the other party knew full well it was going to result in a tremendous loss to them.
      Banks, on the other hand, routinely break contracts, it’s part of the business. Imagine if we were TBTF, we could start comitting our own massive swindles and refer to them as “lawful contracts.”

  8. mario kenny says:

    OMG here I go again, people may never understand, the banks do not need to sell the home, they need title to the home, because of the Fractional Banking system, why would they modify the loan waiting 30 yrs for the payment when they can get the money in the instant?, all they need is the title in their names.

    • see says:

      You are so right. It is all about getting the title. They don’ care about the house, it is the title they want.

    • Amada L Escandon O'Rourke says:

      in my case Jill Pfiefer help us with our home loan after paying HomeEq more that 36,000.00, so since 2006 my home is in rescission and still appear like this in the County Records of my city Chula Vista, Ca.
      but last December Ocwen told me that if I wanted a loan mod I had to go without paying the mortgage…ans in JAn 24, 2011 my house has been declares in foreclosure by Ocwen and my credit is ruin.I did my own Forensic Investigationthat is only a title search but in depth analysis. every home loan has story to tell. I found that “someone” took 3 reconveyances in my home in 2004! one is from Argen, the second one is from joan H Anderson that is Edgar Online.com selling securities at the SEC. and the third one is from Chase Bank…every instrument shows deception and forgery making a total of $1,300.000.00!!!

      . We have told our DA Bonnie Dimanis but she does not care and more because I am hispanic…I did not know that she did not like mexicans-americans..oh well her lost! pray for me because tomorrow is my day..Ocwen told me last week that I was going to be called by a”lawyer” and they gave a number and yes!… I investigated the number first because Ocwen and all SCAN-transmitted docs can be done when you answerd the phone thinkingthat someone is calling you but in fact you are accepting the call and it register automatic using phone automatic transmission. they gave this number to call .(866) 960-8299 ….Some are toll free fax number. What is western progressive llc address? 18377 beach blvd, suite 210 Huntington beach, CA 92648 (866) 960-8299 …

      THIS “LAWYER IS IN FLORIDA ALSO WITH oCWEN! AND THEY THOUGHT I WAS NOT GOING TO FIND OUT?…HOW STUPID THEY ARE. maybe thay will steal my home tomoerrow by recording a forged document seems to be no problema for them…what a shame to see all the authorities that were suipossed to protect us hurting us like this..but God is watching all of us! let’s pray for them because they are very ugly inside and out…awful people!
      this is what I found and now I now what to expect!
      Street address or identifiable location: 2815 VAN MARTER DRIVE, KINGMAN, …

      oCWEN HAS THE SAME ADDRESS!!12650 Ingenuity Drive Orlando, Florida 33401 _ NAME, ADDRESS & TELEPHONE NUMBER OF … of Notice of Sale) Les Zieve, A Licensed Arizona Escrow Agent 18377 Beach Blvd., … Lodi, CA 95241 | Phone: (209) 333-1111 | Fax: (209) 369-1084 …

      Show map of 18377 Beach Boulevard, Huntington Beach, CA 92648
      Jan 21, 2011 – Elsie Ramirez: Notary, FL. The foreclosure mill being used on us is Law Offices of Les Zieve who’s address is the same as Western Progressive …

      You visited this page on 12/16/11.

      and it turn out to be another crook…this what I found…Cases filed matching “Law Offices of Les Zieve-ocwenBaywide Home Loans, DB Home Lending LLC, HSBC Bank USA, N.A., Law Offices of Les Zieve, Mortgage Electronic Registration Systems, Inc. and othersPresiding Judge: Hon. William H. AlsupCause Of Action: Truth in Lending
      Defendants: HSBC Bank USA NA , Les Zieve and Ocwen Loan Servicing LLC. Presiding Judge: G Murray Snow … Defendants: Baywide Home Loans, DB Home Lending LLC, HSBC Bank USA, N.A., Law Offices of Les Zieve, Mortgage Electronic Registration Systems, Inc. and others. Presiding Judge: Hon. William H . Alsup …
      Ocwen Bank And The Law Office Of Les Zieve Les Zieve is a So called Lawyer that should land him some jail time Huntington Beach For Florida and California. … The Law offices of Les Zieve 17682 Beach Blvd Suite 204 in Huntington Beach …

      • Laura Stacey says:

        The address you gave at 18377 Beach Blvd, Huntington beach is that of the Law Offices of Les Zieve. They have many clients that are servicers for mortgages and trusts. Ocwen is one of the largest. I lost my home in January and am still trying to find a way to get it back. We have a sheriffs lockout Friday but am still hoping for a miracle.. We are in Arizona so have fewer options than most. I wish you all the luck in the world and hope you can win for the rest of us that got rolled over

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