Brenda Reed | California Homeowner and Vietnam Widow Testifies Before Legislative Committee on Foreclosure Crisis, JPMorgan Chase (VIDEO)

Brenda Reed, an Oakland homeowner and Vietnam War widow, speaks out about her efforts to save her home from foreclosure by JPMorgan Chase Bank before the California Legislative Conference Committee Hearing,; California State Capital, Sacramento. May 15, 2012, Afternoon session.


9 Responses to “Brenda Reed | California Homeowner and Vietnam Widow Testifies Before Legislative Committee on Foreclosure Crisis, JPMorgan Chase (VIDEO)”
  1. j Alonzo says:

    I respect this lady and admire her. She is a true patriot. These banksters and their Neocon Democrats and Republicans all work for them. Stand up folks and take a stand. Ron Paul Revolution!

  2. To Tell The Truth says:

    Chase bought out or acquisitioned Chemical Bank New York Trust Company some years ago…Chemical Bank did not keep good paper records of the investors information I know cause I worked there in their tax/trust department on Park Ave and had to straighten out their chaotic file section at one time….now I am understanding how they are negligent with investors/homeowners affairs and should be shut down!!!

    With all the money they make they should be hiring lots of people to do proper work for them….but as the claim is so resounding more and more..THEY JUST DON’t CARE!!!!! It’s all about money but the Bible says that in the end days a piece of bread will be able to purchase a bag of gold…mmmm

  3. Ken Hansen says:

    Courage, fight the good fight!

    It’s the same everywhere. The banks are keeping houses off the market to trick people into believing that prices have hit bottom. But prices haven’t hit bottom, in fact, they still have a long way to go.

  4. zurenarrh says:

    This woman is incredible. This shit has to stop. What are we going to do? Lawsuits won’t stop it–I tried that and lost. Protests won’t stop it. The truth being widely known won’t stop it. What will stop this? What can we do right now, today, to put an end to practices like what this woman and so many of us have endured?

  5. Louis Bruno says:

    When Mrs. Reed indicated that she would not be able to tender, I believe she may not have considered all of her rights.

    The Dodd_Frank bill specifically closed the issue that was raised in the footnote in Beach v. Ocwen by the U.S. Supreme Court, and clearly held that the right to extend rescission under the Truth In Lending Act would not only extend for 3 years, but could also be used as set-off or recoupment (a right also extended under California law).

    The effect of this provision is that her principal balance should be reduced by approximately 10% for every 10 years of payments (a rough formula for the effect of removing the lender’s right to interest and fees).

    In addition, where the bank refuses to cooperate in this process, there is ample precedent to support their loss of the right to recover their principal.

    Finally, Truth In Lending Act also provides the court with the right to modify the tender requirement. This is often used by the courts at the request of the lender to re-instate their right to get paid even after ignoring the requirements of the law, however, the Commentary and Regulation Z only provide one example of how this power should be used, and that is to provide the ability to tender monthly installments over a fair period or however else the court deems just. However, with the adjustment to the principal balance Mrs.Reed may very well be able to re-finance the loan at a dramatically lower balance, rate, and payment.

    Please forward this to her if you are able.

  6. Sharon Duncan says:

    Her comments are certainly passionate, and express the experiences of many many many people across the country. The state’s attorney generals and legislatures nationwide have permitted the banks to buy their way out of accounting for their misdeeds and fraud. They have been given a free pass. If everyone would just stop paying their mortgages it would bring the banks to their knees. I realize that will not happen.To many people do not really understand the cause and effect of what the banks have done. Brenda, you have done the right thing by speaking out. I hope others follow your lead.

  7. Beth A. says:

    Mrs. Reed,

    After having viewed for video, I want to commend you for a job well done. On behalf of myself and my family I would like to thank you and your family for your husband’s service to our country and to extend our sympathies for your very tragic loss. We also want to thank you for speaking out and for not giving up the fight. We were horrified at how horrible (beyond horrible) you have been treated by Chase – those sickening evil devils. Please know that you are not alone.

  8. Beth A. says:

    Yes! What is needed is multiple opportunities for regular people to share their stories. Otherwise – no one knows that a) they are not alone and b) they aren’t the only ones that the pretender regulators ignore.

    In our case, the massive fraud began at origination and after looking at the records contained at JP Morgan’s offices after a QWR (surely someone err’d in sharing some of the copies with us) we were shocked at what we found. It goes downhill from there.

    Thank you for posting this and many blessings to those like Ms. Reed (and our friends at 4closurefraud) who take a stand and speak out at any and all opportunities.

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