DEFICIENCY JUDGMENTS – Is your Court a Collection Agency for Crooks?

Kangaroo Court

DEFICIENCY JUDGMENTS – Is your Court a Collection Agency for Crooks? Class Action Filed in Hawaii

Deficiency judgments are another dark corner, if not the darkest corner in foreclosure. The Dubin Law Offices filed a Class Action Complaint in Hawaii United States District Court today [4/29/13] because of the injustice of deficiency judgments.

It’s not bad enough to lose your home to the banksters that fraudulently inflated your appraisal, filed fraudulent robo-signed fabricated documents in your state recordation offices and in court, rigged your LIBOR interest rate, lied, cheated and stole your home getting away with everything; but then they turn around and sell your home to themselves for half price and then sell it again for less than you owe to someone else. Lord (and DeMarco) only know, why they won’t sell it back to you for the lower price. But they don’t.

As if that wasn’t bad enough, you’ve lost your life’s savings, all the equity you thought you were accumulating for retirement and the kids’ college, you’ve lost your job because the banksters crashed the economy – in essence your whole world has been turned upside down and destroyed – then the bastards file a deficiency judgment against you for the fictitious difference between what they gave the property away for and what your owed. In some cases it has been in the million$! And you’re stuck with a gawd-awful debt over your head for the rest of your life unless you file bankruptcy and ruin what little credit you may have left for another 10 years.

Is it any wonder why 99% of Americans want to take down the TBTF?

Rest here…


2 Responses to “DEFICIENCY JUDGMENTS – Is your Court a Collection Agency for Crooks?”
  1. talktotennessee says:

    This is the most accurate assessments of the CRIMES that banks inflicted on their victims that I have read to date. With the government’s help it is being swept under the rug and business as usual “cleaning up the mess” and still people believe it was precipitated by individuals who “bought more house than they could afford.” It matters not that people were deceived by their friendly originator, real estate person, remodelers, etc. etc. etc. Despite both parties, Washington and Wall Street turning their back, the damage is far from over. Millions of mortgages are underwater, municipalities are hit with property tax deficits and none of the players care. The modification farce is only trumped by the outrage of deficiency judgments. Case in point: Property had two loans (very common in the bubble). First mortgage foreclosed, sold for less than their loan, leaving the second position lender with nothing, whoc promptly went for the deficiency judgment against the homeowner who lost their property or surrendered in bankruptcy. The house sold to an investor, who resold it within 30 days for $50K more than he paid for it, no repairs. Enough to have covered the second mortage plus a profit. The first position mortage holder didn’t care to protect the second although he easily could have. Who is left holding the debt? The homeowner has a deficiency of $37,000 with growing interest. The investor who paid cash on the courthouse steps for the house made a profit of $45,000 “as is” and never entered the house.
    Is this legalized scam or theft? If not, what do you call it?

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