Baum fall throws NY foreclosures a curve
Thousands of Baum foreclosures in NY limbo
The implosion of the foreclosure-mill law firm of Steven J. Baum has thrown close to 10,000 New York families into legal limbo.
Baum announced last week that he was closing the firm after Fannie Mae and Freddie Mac, the government-run mortgage organizations, said the law firm was no longer eligible to handle foreclosures.
The Baum firm, which is located in Buffalo, with a second office in Westbury, Long Island, notified the New York Department of Labor that all 67 employees would be laid off in mid-February. (By law, any firm has to give employees 60 days notice when issuing mass layoffs.)
Last week, along with the Baum firm announcing its closure notice, Fannie Mae sent a directive that mortgage servicers are authorized to transfer Fannie Mae foreclosure or bankruptcy matters from Baum to any other retained attorney network firm in New York.
Baum’s folding is the second default-services firm to cease foreclosure operations in the wake of last fall’s robo-signing scandal and the investigations it spawned.
In March, the David J. Stern law firm in Plantation, Fla., one of the largest foreclosure mills in the nation, ceased foreclosure work.
While some court observers speculate that, with the Baum firm’s closure, thousands of court cases will proceed with new counsel, that was not the case with the Stern shutdown.
Rest from the NY Post here…
Fannie Mae Directive below…
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4closureFraud.org
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Fannie Mae Directs Servicers to Transfer Fraudclosure Files
I thought Fannie was supposed to do away with that “retained attorney network firm” thing?
I wish the Immortals and all of their minions and cohorts who hate freedom and want Global tyranny would all get on their mother ship and go to hell..
freddie and fannie will continue to steal with forged documents, They have learned to do it on their own without any help from any other scumbag. IE that how They make all those bonuses worthwile.
they know only 3-4% of the people fight their foreclsoure. the rest think foreclosures were likein our parents day you actually could not afford your house, today we are not suppose to afford the house. i did some math. wells afrgo new when i was approved for my house how long my disposable income would last. see they new my income and new my bank account. if they were committing mortgage application fraud and not including taxes and insurance in the amount to approve loans we were all in the negagtive at closing.
(some folks that respond think we bought more then we could afford there were 2500 homes for sale in my county why put us in a home or buy a home we cant afford unless the motive was to make sure we cant afford it and buy insurance on that fact hence the credit default swap insurance)
wells fargo new i would be in foreclosure in 30 month (i used the amount the mortgage broker lied about on my application) from closing which is alittle less 3 months. from 2006 till now food prices an, gas, and clothes have gone sky high our salaries have decreased because of health insurance expences. we lasted 42 months. and the fraud behind trying to get a modification the lost paperwor, the moving of files, getting letters from different desks wanting different paper work. the list goes on.
This should be interesting. Will Fannie continue producing fraud affidavits and unethical behavior or acknowledge the loans are faulty and they are unable to prove who owns the loan. Call a moritorium on foreclosures or do something sinister to steal the houses regardless of what it takes.
They probably will Shelley until every single American starts putting up a fight for their property rights…Not enought pro se defendants and Americans are disrupting their evil plans…WE THE PEOPLE must cause chaos for them by fighting the fraudclosures,quit using their banks, credit and debit, revolting on the mortgage, the property taxes and all of the false debt enslavement the NWO has imposed on mankind…People must live within their means and pay cash.