Robbi I have to gently disagree with your conclusions. If the status quo continues, foreclosures will continue without protections (judicial, administrative, political) for those facing foreclosure, no entities will be held accountable for the collapse or post collapse frauds, and very few homeowners facing foreclosure will receive assistance such as principle reduction. The injustice will unfortunately continue. The masterminds in power will continue to wield that power and influence to ensure the continuance of past and present policies. The illusion that is the US economy, the world economy will continue with artificial pumping of monetary supply to big institutions, money that never trickles down to the masses but nonetheless keeps these false economies going.

The premise of the article is that we are in an artificial housing market, that current valuations are inflated, and that the bubble will pop when the shadow inventory hits the market. I believe the powers that be have a game plan for the influx of the shadow inventory that include just letting the houses rot, bull-dozing them, and/or selling them in bulk to investors at pennies on the dollar. After a foreclosure and after insurance pays the claim, servicers could care less about what happens to the property. I’m not disagreeing that it is a big risk to buy a home in an artificially inflated market. My point is when has the housing market (and the economy in general) NOT been artificially inflated and that there is always risk when buying something.

Among other frauds Astoria Federal S & L successor in interest to Fidelity NY FSB perpetrated in order to steal my two NYC condos was they hid two mortgage checks on each property thereby never being able to send compliant acceleration letters without putting the cart before the horse
NO PROBLEM for Astoria. They solved all obstacles to foreclosure by using void ab initio judgments signed in state court while the case was under Federal JURISDICTION.

A JUDGEMENT IS EITHER VALID OR INVALID.

I BROUGHT two MOTIONS TO SHOW CA– USE TO NYSC pursuant to the US Supreme Elliot v. Piersol AND JUDGE Schlesinger ruled it wouldn’t be right to evict the parties who had the Forged Deeds especially since Thomas Malone Attorney from Fidelity National Title and David K Fiveson of a sham title company he called Coronet Title told judge Schlesinger they have ‘EQUITY”and she ruled against Elliot v. Piersol

After many Appellate motions including a direct appeal to the Court of Appeals
Chief judge Jonathan Lippman”s decision stated
” motion for leave to Appeal dismissed upon the ground that the order sought to be appealed from does not finally determine the action within the meaning of the Constitution”
and the first dept of ny appellate refused to give me a final decision so it remains in limbo.