Trashed Out: To Clean Up Foreclosure Mess, Banks Rely On Little-Known Industry Plagued By Fraud, Abuse

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To Clean Up Foreclosure Mess, Banks Rely On Little-Known Industry Plagued By Fraud, Abuse

Last March, a 23-year-old bank contractor cut through the secured gate at the entrance to a farm in Little Rock, Ark., and proceeded to a small house on the property. There, according to a police report, he broke the lock off one of the doors and forced his way inside.

The man, who police would later identify as David Cole, was allegedly there on official business: He worked in a little-known but booming industry that maintains and inspects millions of foreclosed and abandoned homes owned by mortgage lenders in the wake of an epochal real estate bust. The bank responsible for this particular home had presumably decided that the home was another discarded mess, and Cole’s company had been dispatched to shore the building against the ravages of weather and decay.

The owner of the property, a recently widowed woman named Marie Osborne, acknowledges that she was indeed in foreclosure. She was away when Cole arrived, she said. Still, the house was very much hers and far from abandoned, as even a cursory review would have made clear, according to a lawsuit she subsequently filed.

When she returned home, Osborne was “astonished” to discover that her doors had been padlocked and her belongings ransacked, she claims. A grandfather clock was missing, along with an antique gold mirror, several televisions and family photos, Osborne alleges.

Rest here…

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4closureFraud.org

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2 Responses to “Trashed Out: To Clean Up Foreclosure Mess, Banks Rely On Little-Known Industry Plagued By Fraud, Abuse”
  1. charley rice says:

    THE 2008 TARP BAILOUT PRIME BANK OF AMERICA PRESIDENT CEO BRIAN MOYNIHAN who had received $45 Billion and WELLS FARGO BANK CEO John Stumpf has received $25 Billion from the TARP are Double Dipping on Secured Defective instruments.

    THEY’RE BRINGING PERJURY WRITING FRAUD BY USING A
    “MISTAKE OF FACT AND MISTAKE OF LAW CCC 1688-1689” BY CLAIMING TO
    BE LENDERS TO FORECLOSE ARE TRYING TO RESURRECT DEAD SUBPRIME BANKS of 2005-08.

    SUBPRIME BANKS THAT HAVE FILED CHAPTER 11 BANKRUPTCY CLOSED on or after JUNE 18, 2008 WENT OUT OF BUSINESS FOREVER CANCELLED THE DEED OF TRUST CONTRACT AND MADE IT A DEFECTIVE INSTRUMENT WHICH IS UNENFORCEABLE.

    NO PARTY HAS LEGAL RIGHT TO FORECLOSE. ESPECIALLY WHEN THE DOT CONTRACT FAILS TO HAVE ONLY ONE SIGNATURE OF THE HOMEOWNER AND NOT THE CEO IS NOT A VALID CONTRACT.

    NO COURT HAS JURISDICTION TO ENFORCE AN INVALID CONTRACT. UCC LAW OF CONTRACTS.

    THEY’RE DOUBLE DIPPING ON A SECURED defective ASSET AND IT’S A VIOLATION OF RICO and they’re still breaking laws of a COURT ORDER should be SANCTIONED and their lawyer DISBARRED…

    A VIOLATION OF THE COURT CONSENT JUDGMENT AND ORDER EXHIBITS
    DOCUMENT THAT CONTAINS 25 PAGES named

    UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA

    Dated on JUNE 15, 2010 Case # CV-04193-JFW-SS Filed, FTC v COUNTRYWIDE
    HOME LOANS, INC., a corporation and BAC HOME LOANS SERVICING, LP, a
    limited partnership. “Which stated immediately effective on the JUNE 15, 2010 date”

    *On Page 10 of the Consent Order part VII FOR 8 YEARS AFTER THE DATE
    ENTRY OF THIS ORDER ALLPARTIES ARE HEREBY PERMANENTLY
    RESTRAINED AND ENJOINED, IN CONNECTION WITH THE SERVICING
    OF ANY LOAN, FROM (1) INITIATING A FORECLOSURE ACTION, OR
    ASSESSING FEES IN CONNECTION WITH AN ACTUAL OR THREATENED
    FORECLOSURE ACTION, UNTIL THE DEFENDANTS HAVE REVIEWED
    COMPETENT AND RELIABLE EVIDENCE THAT SUBSTANTIATES THAT
    THE CONSUMER IS IN DEFAULT UNDER THE TERMS OF THE LOAN
    INSTRUMENTS; AND (2) CONSUMMATING A FORECLOSURE SALE UNTIL
    DEFENDANTS HAVE INVESTIGATED ANY NON-FRIVOLOUS DISPUTES
    DISPUTES BY THE CONSUMER AND INFORMED THE CONSUMER OF THE
    RESULTS OF THE INVESTIGATION…*

    ALL JUDGMENTS ARE VOID AND SHOULD BE VACATED and a Recusal of a Judge!!

  2. rw says:

    THE PROBEM WITHTHE BANKS NOW IS THAT THEY HAVE TARGETED HOMEOWNER ACCOUNTS, WE LIKE TO — USE A METHOLOGY OF SOMEONE ELSE DOING THE CRIME HOWEVER, IT IS THE BANKS. STEALING MONEY FROM ACCOUNTS AT AN ALARMING RATE, BUT NO ONE GOES O JAIL,

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