The 49 State Attorney General Foreclosure Screwjob – IT’S EVEN WORSE THAN REPORTED!


The 49 State Attorney General Foreclosure Screwjob- IT’S EVEN WORSE THAN REPORTED!

There should be no shortage of press reporting on just how bad these bank settlements are.  The banks stole hundreds of billions, the headlines report they’ll be penalized “up to” a few billion, but the reality is their true cost is far less than the delusional headlines.

Here’s the latest and what may be one of the most offensive aspects of the settlements:

If a homeowner gets principal reduction on a second home, he may owe income taxes on that forgiveness. On the other hand…..


That’s right suckers…while the taxpayer will pay tax penalties for the “relief” provided, the criminal enterprises that accepted such sweetheart deals have in fact engineered deals that just get sweeter for them all the time!

Was this added bonus tax boodoggle known to the attorneys general that signed off on this offense to the American people or did they get bamboozled?  Either way The People get shafted once again

There can be no more clear example of the undeniable proof that the government in this United States serves the interests of the corporations than these three horrendous bank bailouts.

But perhaps even more disturbing is just how low the press in this country has sunk, reporting only the bullet point headlines on press releases fed to them, rather than actually doing real reporting.

Rest here…


9 Responses to “The 49 State Attorney General Foreclosure Screwjob – IT’S EVEN WORSE THAN REPORTED!”
  1. Mystify says:

    Do not send any money to any banks, do not answer your phones. The best we can do is Nothing in the hope that we clog the system up,so much that they have to notice! Stop making payments and you stop the insanity!

  2. MeeshaLin says:

    I’m with you!! We should be getting back all that we lost at the very minimum! I am one of the hundreds of thousands of ex homeowners who lost their home to fraud! Not only did I loose my home, my little boy lost his home, the only home he ever knew! I lost EVERYTHING I saved to buy a home since I was 17 years old. I bought the home that was stolen when I was 33 years old! O can’t even get an apartment in my name, no credit cards, no car. We the people deserve justice! Give us back our lives!

  3. Wayne says:

    Just heard the other day that here in the State of Arizona the Governor stated that the state was sound and had a surplus. Makes me wonder WTF. Just two years ago they had to borrow or received a line of credit from Bank of America in the billions for the budget. Mainly because the state was broke. Now there is a surplus?
    Now I been wanting a modification since Countrywide was in business. Didn’t get one from Countrywide and when Countrywide said they would foreclose on me, I stopped paying them. The three years with Bank of America, I never paid them either. I showed proof of fraud to the attorney generals office yet they would not do anything.
    Bank of America last year recorded a fraud assignment, robo signed in the recorders office. Fraud assignment recorded in the recorders office is against the Law yet I could not find anyone who help me fight this.
    I still haven’t paid anyone in four years (not going to either). My new servicer, SLS, is getting paid either. No one can show me where my documents are. This includes my original Deed and the Note. QWR’s seem to be pointless.
    Asking for the Dept of Justice settlement … everyone has told me that since my loan was originated from one of the Big Banks, I do not qualify.
    My original lender doesn’t exist anymore and some of those people are going to jail for mortgage fraud. The Title company doesn’t exist anymore either. New title company has a copy of my Deed.
    Countrywide never recorded a damn thing. I don’t even know if the Loan Doc’s even made it to Countrywide.
    Talk about being SNAFU-ed.

    • Cheri says:

      I filed a complaint with Joesph A Smith’s Office. and I received a auto email back. Then with The Michigan State Attorney’s Office. A Ms Beth Thompson called me on Oct 4 2012 from the state attorneys office. She Referred me To MSHDA Office. They referred me to Comptroller of The Currency / Adminstraitor of Banks-US dept of treasury. I filed a complaint with their dept as well. I sent an email to Senator Carl Levin and filed a complaint, received a letter but nothing more..I received a letter from Bill Schuette Michigan’s State Attorney General. He referred me The US Dept Of Consumers Protection. So I filed a Complaint with The US Dept of Consumer Protection. The file is still open.

      So here is A brief summery of My Complaint To Them..
      I really have no hope in getting any resolution to this mater any longer. It has been quite a disheartening experience. I believe our system of ‘checks and balances’ truly no longer exist. But I do want to make you aware that Bank of America isn’t complying with the Settlement agreement. And Perhaps it will save someone else’s home.

      Oct 2 2012..was the the day The Banks were Required To Prove They Comply with the 305 Rules set forth in the Settlement.. As far as I can tell..”It’s Business as Usual” at ‘Bank of America’. Their horrible customer service is still the same. When you finally get through to to someone. They pass you on to some one else over and over. You can never get a straight answer from anyone. Nor do you ever talk to the same person twice.

      We were going into foreclosure. Our Sheriff Sale date was May 24th. On May 23rd we received an automated phone call saying to call BoA because our loan status had changed. We did and had to leave a message. We then received a call back from A Yvonne Williams. She said she was from the ‘justice dept’ at BoA. That she was our ‘Personal Relationship Manager” and was going oversee our mortgage from now on and we were only to speak to her regarding our loan. She said we qualified for a new modification because of the Settlement. She told us she had put a hold on our Sheriff Sale. Then she asked for specific documents and paper work to be faxed to her. We did everything she asked. We were told to wait to hear from her. She contacted us a few more times for more documents.

      Then at the end of July we received a two sentence letter saying she was no longer our ‘Personal manager” and to call the number given. It was the same number we had always called, Customer Service. No one seemed to know or care who she was, and told us our sheriff sale had not been put on hold. That we would have to talk with their legal dept. We were passed around again and again, cut off, hung up on ect ect. Same as usual.

      As you may know In Michigan you get a 6 month redemption after the sheriff sale date. Because of the woman from BoA and her lieing We were now 3 months into the redemption period and hadn’t even known it had been sold. With the original 1st modification, we had made 18 payments on time. Then suddenly BoA stopped excepting the payments and said we were in foreclosure. Nothing has changed there and nothing will.

      I have heard so many similar stories were BoA contacts the homeowner offering them a modification. With a new hope. The homeowner sends all the documentation the bank asks for. Which the bank will then say was incomplete, missing, and asks for duplicates. Then the bank will give the homeowner a three month trial lower monthly payment. When the three months are up and the homeowner calls the bank to find out their status. The person simply says keep making the lower payment. That it’s taking longer because they are so back logged. Then after six months or more. The homeowner receives a Foreclosure Notice. In our case 18 months. and the homeowner finds out None of the payments have gone to the loan. So Now they are so far behind they can not pay the enormous amount the bank asks to save their home….They Truly are Stealing America’s Homes, Hopes, and Dreams.

      • Cheri says:

        As Far as The Independet Review …I tried to file But BoA didn’t Send The Documents needed for Us to file a request with The Independent Foreclosure Review. I had to call there because it would not go through on their web site. I was told there it was because The lender , BoA didn’t send anything to their Review regarding our Foreclosure. So They needed to send me a hard copy of the request form.. That was two weeks Before the dead line. On Dec 29th and we still had not received the request form. Which was time sensitive and needed be filled out and sent back Postmarked no later then Dec 31, 2012?

        When I first heard the rep on the phone tell me they didn’t get the Documents needed from BoA I knew something wasn’t right. Then when I called the second time After not getting the request from. Rep, names “Clinton” told me he could not answer when they sent the Documents out because he wasn’t on the bank of America’s Team and need to transfer me to them and they would answer the questions I had.

        he transfered me…and the person who answered was no other then “Clinton’ Again…So I Said “hello Clinton This Is Cheryl From Michigan, we just spoke. I Didn’t realize you were also on the BoA Team/. So You must have taken the Same Class as the Workers from BoA ‘How To Confuse and Up Set the Customers?”” He stammered and then put me on hold, and of course I got disconnected. I called back, Another rep, a woman answered this time. I could Hear Clinton in the background speaking to someone on the phone. I told her to say hello to Clinton from me.

        Anyways she told me the Documents had been sent on Wed. I Asked her this past Wed or the Wed After I called. She wouldn’t answer straight forward. She just kept repeating “On Wed”. So I asked her if the Documents were not there by Dec 31st would they still honor my request? She said No but sent it in Anyways and see what happens????
        I received the Documents, I believe on Jan 8th.or 11th. After I had read the News About Them Being Shut Down On the 30th, the day before the deadline.

        It’s All BS The Gov and the Banks. I believe the Banks And The Gov are One and The same.

  4. Jeff Hill says:

    On September 2, 2011 FHFA (Federal Housing Finance Agency) FHFA.GOV filed lawsuits against 17 of the largest lenders including Wells Fargo, B of A, Chase, Merrill Lynch, etc. both in state and federal courts demand for a jury trial. Depending on the lender, there are several “cause of actions” which include several violations of the securities act of 1933 and Common Law Fraud and Common Law Negligent Misrepresentation. (here is ONE of the filings linked: this filing is 143 pages) FHFA filed on behalf of Freddie & Fannie to recover the losses for those GSE’s. If you read through any of the filings by FHFA you will learn the 17 different lenders who participated KNEW in advance the scheme was FRAUD from the inception, designed for the sole purpose to complete as many MBS (Mortgage Backed Securities) as possible. The REAL UPFRONT money made was when the MBS’s sold in the secondary market. The 17 BANKSTERS used their legitimacy as lending institutions to put as many of these “financial instruments” together as quickly as possible and put more buyers in the marketplace then otherwise would be, causing the supply and demand equation to be unbalanced. This is HOW (and why) prices went into outer space (as opposed to through the roof) and they KNEW it in advance! If a legal contract BEGINS as FRAUD, how can it end as anything else? The question the 99% of us should be asking is WHY are the “lenders” who committed FRAUD against the investors (and subsequently ANY homeowner or home buyer during that period of time who used their FINANCING SCHEME to purchase or refinance) being allowed to treat the “mortgage loans” AS IF they are legitimate? If the loan BEGAN as FRAUD (as out lined in the FHFA filings) when and how did those “loans” become NOT FRAUD? WHY is not Eric Holder, Kamila Harris or OBAMA not stopping them in their tracks? $$$
    It’s all about the money! Get it straight, it is those WITH $$$ against those of us WITHOUT. If you have a million cash, you are NOT one of the 1%. If you have a Billion, YOU ARE one of them! By driving the prices into orbit, they not only collapsed the economy of the US, but the entire WORLD. All for money NOW! A billion was not enough, they want TRILLIONS! Goggle SPIRE LAW GROUP $43 TRILLION lawsuit filed on October 25, 2012, which names the Obama administration, Eric Holder, Kamila Harris and many more as CO-CONSPIRITORS! Everybody knows attorneys (including SPIRE) are out for themselves and the client is only a means to an end, or their tool to use to get THEMSELVES a payday! The bottom line is the “LOANS” were FRAUD from the inception, and the “right” thing (if the LAW OF THE LAND applies to all equally) is to REFUND ALL PAYMENTS that have been made to all borrowers and VOID the notes. That is what would happen IF a judge followed the law in a court of law. After the lender complete a foreclosure, then they are allowed to EVICT the occupants and sell the real property for whatever it is worth today? That is in fact INSULT TO INJURY! Why does the “politicians” permit this? Why? Logical conclusion is they are PAID! Pay me and I’ll let you pretend all the loan are “real” and you can foreclose and take the property and sell it for Today’s reduced value, how messed up is that? If I understand correctly, FHFA will sue (our tax payer $$$ paid the attornies to file the suit on 9/2/11) to protect Fannie & Freddies interest, where is the interest of the public? Who thinks the “crisis” is over? If you do, you are not informed. Please note: While these 17 lenders had a dominant share of the market, they were not the ONLY lenders at the time. Credit Unions also made loans at that time but DID NOT participate in the FRAUD. If you or I committed the violations of law detailed in the filings above, the case is a hands down loser in court for the defendants. WHY ARE THE BANKSTERS ALLOWED TO PRETEND THESE (MBS) ARE NOT FRAUDULENT? Here is another fact of this matter: Those specific MBS identified have been “written off” by the very same lenders (or servicing contractors) and have a value of ZERO on their books when the collapse occurred in 2008. I am very sad to see how many people still make their payments to the lenders until they are homeless, and the banksters are making all profit! Short sale the house they make a profit, pay the payment, steady stream of revenue and pure profit! This is so wrong in so many ways. Please HELP the HOMEOWNER, not the banks that caused it by design! Fraud is fraud, REFUND OUR PAYMENTS and VOID THE NOTES AND DEEDS! Who is with me on this?

  5. Cheri says:

    This Is Bull Shit! We Are Doomed!!

  6. Nothing short of amazing…

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