Trashed Out | Jackbooted Thugs Clean Out Wrong Home, Stolen Property Destroyed

“On the door of the home Friday was a hand written note that reads “This is private property. No trespassing. If you coming in here, you won’t be leaving.” ~ Woman says foreclosure team cleaned out wrong home A Des Moines woman came home to find her belongings gone. A police report shows that last … Read more

NY Times | Foreclosure Settlement – When Banks Erase a Debt That Isn’t There

“It’s bad enough that these letters are inaccurate. But even worse are the tax problems that they may create for people like Ms. Esposito. In most cases, the Internal Revenue Service considers debt that is forgiven to be taxable income. One exception occurs in bankruptcy; when a debt is discharged, it is not taxable.” ~ … Read more

Homeowner Faces Felony Charge for Pointing Shotgun at Bank Employee Photographing Home As Part Of Monthly Inspection

Solsberry Man To Face Jury After Pointing Gun At Bank Employee (BLOOMFIELD) – A March 2013 jury trial date has been set for David Council Jr., of Solsberry, who is accused of pointing a loaded .12 gauge shotgun at a bank employee who was on his property on Washboard Road taking photographs as part of … Read more

How BofA was Forced to Settle $2.43 bln Merrill Class Action

How BofA was forced to settle $2.43 bln Merrill class action Brad Karp of Paul, Weiss, Rifkind, Wharton & Garrison and Max Berger of Bernstein Litowitz Berger & Grossmann share an elevator bank at 1285 6th Avenue in New York City. Bernstein Litowitz, a 50-lawyer plaintiffs’ firm, has space on the 36th and 38th floors. … Read more

$300 Million | Pam Bondi – “There is no time line for distribution of the (foreclosure settlement) funds”

9 Investigates millions meant for struggling homeowners Florida was awarded millions this spring as part of a nationwide settlement, against five big mortgage lenders, but investigative reporter George Spencer found there is still no telling when homeowners could get the payback. ~ 4closureFraud.org Tweet

Scores of Homeowners Unsure How to Get Back Title from Land Trusts

Scores of homeowners unsure how to get back title from trusts WEST PALM BEACH — For some, it was the last hope to keep their homes and so they listened to the pitch rather than their gut. They paid thousands of dollars, deeded their homes to a land trust company, and waited for the payout … Read more

The Next Subprime Crisis Is Here: Over $120 Billion In Federal Student Loans In Default

The Next Subprime Crisis Is Here: Over $120 Billion In Federal Student Loans In Default Whereas earlier today we presented one of the most exhaustive presentations on the state of the student debt bubble, one question that has always evaded greater scrutiny has been the very critical default rate for student borrowers: a number which … Read more

Servicers Will Meet ‘Each and Every’ Standard in $25B Foreclosure Settlement

Servicers Will Meet ‘Each and Every’ Standard in $25B Settlement The first real test of the $25 billion mortgage settlement comes Tuesday, when the nation’s largest servicers must reveal their progress. That’s the deadline for the five companies—Ally, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo—to certify that they are complying with 304 servicing … Read more

Former IRS Examiner, Dennis Lerner, Charged With Leaking Whistleblower’s Name To Big Bank Target

Former IRS Examiner Charged With Leaking Whistleblower’s Name To Big Bank Target A former Internal Revenue Service examiner was arrested today at his home in Edgewater, N.J. on charges that he illegally leaked the name of a confidential tax whistleblower to an executive of the same bank that was the whistleblower’s target—a bank that allegedly … Read more

St. Louis County Judge, Brenda Stith Loftin, Sides with Banksters, Blocks New Foreclosure Ordinance Requiring Mediation

St. Louis County judge blocks new foreclosure ordinance CLAYTON • A St. Louis County Circuit Court judge on Thursday blocked the county from implementing a new ordinance that requires banks to participate in formal mediation before foreclosing on county residents. Associate Circuit Judge Brenda Stith Loftin granted a temporary restraining order at the request of … Read more

REPORT | Banking on Immigrant Detention – Wells Fargo’s Ties to the Private Prison Industry

Banking on Immigrant Detention – Wells Fargo’s Ties to the Private Prison Industry Executive Summary Private prison operators are profiting from the deepening immigration crisis in the United States. Companies like CCA and GEO Group have seen steady growth due to the countryʼs policy of locking up immigrants in privately-managed detention facilities. These companies have … Read more

George Mantor | The 47% and Those Who Love Them Anyway

The 47% and Those Who Love Them Anyway Whiners? You dare to call us whiners? Just because we need food, want a roof over our heads and not to go bankrupt if we get poisoned by big agra, injured on the job or wounded by one of your 1.25 billion hollow points? You’ll spend every … Read more

NY Times | The Rental Alternative to Foreclosure

The Rental Alternative to Foreclosure FOR homeowners who have been buffeted about by the foreclosure process, the suggestion that they willingly hand their deed to the lender and rent the home instead may only add insult to injury. But such an alternative to foreclosure — variously called “deed for lease” or “mortgage to lease” — … Read more

WaMu Appraisal Company, eAppraiseIT, Accused of Inflating Home Values, Settles with New York AG for $7.8 Million

WaMu appraisal company settles with New York * eAppraiseIT accused of inflating home appraisals * Agrees to pay $7.8 million to end lawsuit * eAppraiseIT now part of CoreLogic Inc * NY AG Schneiderman took case to trial * Schneiderman to bring new mortgage-related action soon By Karen Freifeld NEW YORK, Sept 27 (Reuters) – … Read more

Housing Was at the Root of the Great Depression, Too

Housing Was at the Root of the Great Depression, Too The U.S. economy slips into recession. The stock market takes a tumble as heady expectations for future growth cool. Interest rates fall as the Federal Reserve quickly trims the discount rate in hope of cushioning the business cycle. The low interest rate environment sets off … Read more

Bank of America Reaches $2.43 Billion Settlement in Merrill Lynch Acquisition-Related Class Action Litigation

Bank of America Reaches Settlement in Merrill Lynch Acquisition-Related Class Action Litigation Total Third-Quarter 2012 Litigation Expense Estimated to Be Approximately $1.6 Billion Litigation Expense, Valuation Adjustments for Improvement in the Company’s Credit Spreads and U.K. Tax Charge Are Expected to Negatively Impact EPS by Approximately $0.28 in Third Quarter 2012 CHARLOTTE – Bank of … Read more

Banks Trying to Move Past Robo-Signing

Banks trying to move past robo-signing A top bank official put his best foot forward in Fort Wayne a day after eligible Hoosiers learned they could join a national mortgage settlement. As part of the deal, more than 37,000 Indiana homeowners who were foreclosed on and subject to an error by a mortgage servicer between … Read more

Did Scott Brown Have Patient Zero of the Foreclosure Fraud/Robosigning Scandal, Lender Processing Services, as a Client?

Did Scott Brown Have Patient Zero of the Foreclosure Fraud/Robosigning Scandal, Lender Processing Services, as a Client? Established Naked Capitalism readers may have noticed that I’ve avoided commenting on the Elizabeth Warren/Scott Brown race in Massachusetts. That’s largely because this is a finance and economics blog, and aside from the fact that the Warren candidacy … Read more

OHIOfraudclosure: CHASE BANK vs CITY OF CLEVELAND – U.S. Court Sides with City of Cleveland v Wall Street

OHIOfraudclosure: U.S. Court sides with City of Cleveland v Wall Street For years the City of Cleveland (Ohio) has fought a herculean battle against Banks, Wall Street and the lenders which almost destroyed the entire housing stock of Cleveland. The city fought to Hold Banks accountable in local courts, State and Federal courts and even … Read more

New Jersey Foreclosures Crisis: Chris Christie Not Using $300 Million In Federal Funds To Help Distressed Homeowners, WABC Reports

~ 4closureFraud.org Tweet