Posted by Michele Newsom on Friday, March 18, 2011,
If you have a second mortgage or are thinking of getting one you may want to read this. http://www.truth-out.org/in-proposed-mortgage-fraud-settlement-a-gift-big-banks68578 In Proposed Mortgage Fraud Settlement, a Gift to Big Banks
Wednesday 16 March 2011 by: Jesse Eisinger | ProPublica | Report
Lurking in a proposed mortgage fraud settlement
with the state attorneys general is a clause that could be worth
billions for the big banks.
Yes, I mean the set... Continue reading ...
Posted by Michele Newsom on Wednesday, March 16, 2011,
http://stopforeclosurefraud.com/2010/10/23/georgia-class-action-rollins-v-mers-merscorp/ Continue reading ...
Posted by Michele Newsom on Monday, March 7, 2011,
Corporate greed...America is not broke.
Contrary to what those in power would like you to
believe so that you'll give up your pension, cut your wages, and settle
for the life your great-grandparents had, America is not broke. Not by a
long shot. The country is awash in wealth and cash. It's just that it's
not in your hands. It has been transferred, in the greatest heist in
history, from the workers and consumers to the banks and the portfolios
of the uber-rich.
Today just 400 Americans ... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
Yes it's a wiki article get over it... Predatory mortgage servicing
From Wikipedia, the free encyclopedia
Predatory mortgage servicing (predatory servicing) is a pejorative term used to describe abusive, unfair, deceptive, or fraudulent mortgage servicing practices of some mortgage servicers
during the mortgage servicing process. There is no legal definition in
the Unit... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
Posting this here as it pertains to my dealing with Citi and has some decent info from another persons point of view... My suggestions is to read the whole forum thread as there is a LOT of info there to help... I work in financials as a financial researcher, and was very aware of
the liquidity troubles that Citi was (at the time privately) facing. I
tried to use that as leverage, using a common sense approach, but Donna
was unable to
1) Admit that CitiGroup was facing any type of asset tro... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
By David McLaughlin October 28, 2010, 8:02 PM EDT(Updates with Bank of America comment in sixth paragraph, modification figures in seventh paragraph.)
Oct. 28 (Bloomberg) -- Bank of America Corp., the
largest U.S. bank by assets, was sued by a Florida borrower who accused
the bank of violating the federal government’s home-loan modification
program to boost its earnings. http://www.businessweek.com/news/2010-10-28/bank-of-america-sued-over-loan-modification-practices.html Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
July 07, 2010 5:01 PM
They're supposed to be helping homeowners, but seem to be hitting roadblocks.
Government programs, introduced by federal lawmakers, to offer loan modifications during the housing crisis.
How it works? The government pays money to the banks, and the banks then lower homeowners' mortgage pay... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
This is another lawyer's site but has some great info and statistics on what has happened and how to go about doing things. Research is key, doing your own is best and this lawyer may not be the one for you. I will have a page on where to go for help with a list of lawyers as well... By now, you may have made your own attempts at loan modification. You
now know what we have known: Despite all the government and media hype,
the voluntary loan modifications are not the silver bullet to the
fore... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
This is an article as well as an ad for a law firm as well as I can tell but it's got some good advice, again these articles are here for you to read and for research purposes and I always think it's a good idea to do research on your own as well smile. Applying for a loan modification does NOT mean you can ignore your lawsuit!
Every day, throughout Florida, banks commit fraud against unsuspecting homeowners If you’ve been ... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
Posted by Michele Newsom on Thursday, March 3, 2011,
Scam run by banks employees... A bit old but important... Woman’s Foreclosure Nightmare: ‘Like A Black Hole’
December 13, 2010 Enlarge Chris Arnold/NPRRachel Keyser
and her daughter, Sydney, stand in front of their house in Deerfield,
N.H. Since falling prey to a mortgage scam in 2004, Keyser has faced
repeated attempts to foreclose on the house.
http://livinglies.wordpress.com/2010/12/16/npr-scam-run-by-one-of-the-banks-very-own-employees/ Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
NPR Segment on Mortgage Fraud: Complicity of Lenders
The Great Pool of Money is a terrific and entertaining
commentary on the mortgage crisis. The piece suggests the complicity of
the lending institutions in causing the crisis. As an attorney
representing mortgage fraud defendants, the piece suggests a line of
cross examination: the lending institutions encouraged the practices
that caused the bad loans in an effort to sell more mortgage backed
securities. The hour long segment was ... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
Homeowners Are Protected Against Fraudulent and Deceptive Mortgage Companies
By
Michael A. Goldstein
and Charlene Chinn The Massachusetts Consumer Protection Act is a law which allows
consumers to take legal action against unfair or deceptive business
activity. M.G.L c. 93A is the Massachusetts statute which is used in
order to deal with such matters. Violation of the regulation gives the
individual litigant an opportunity to obtain actual dama... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
The mortgage crisis has sent millions of homeowners in search of ways to
modify their mortgage obligations. Unfortunately, it has also provided a
breeding ground for companies bilking distressed homeowners for
thousands of dollars in fees for services often available for free.
Worse yet, many scam artists simply disappear after collecting their
upfront fees from homeowners desperate to prevent foreclosure. http://commonlaw.findlaw.com/2009/01/mortgage-loan-modification-scams-on-the-rise.html Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
FTC, State Enforcers Sue Scammers, Warn Others; Announce Education Campaign Designed to Reach Borrowers Directly
The Federal Trade Commission today announced a crackdown on
fraud and deception by mortgage modification and home foreclosure
rescue companies. The FTC is seeking to halt the proliferation of these
mortgage relief scams – which target distressed and vulnerable
consumers who are delinquent or facing foreclosure – through increased
law enforcement, consumer outre... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
Judge slams mortgage company fraudulent note practiceThis is really big news if you’re involved in the mortgage crisis in
the United States. And even if you’re not in the United States, you
have to understand that the entire world economy crashed.
And part of the reason was excessive loans to people who couldn’t
afford homes throughout the United States and North America. And that
the same philosophy trickled down into what they called secondary
mortgages and financial crisis. htt... Continue reading ...
Posted by Michele Newsom on Thursday, March 3, 2011,
Gee, what one finds reading around the web. Here, Karl Denninger posts about an article in the Seattle PI:
"The FBI was aware for years of "pervasive and growing"
fraud in the mortgage industry that eventually contributed to America's
financial meltdown, but did not take definitive action to stop it.
"It is clear that we had good intelligence on the mortgage-fraud
schemes, the corrupt attorneys, the corrupt appraisers, the insider
schemes," said a recently retired, high FBI official. Anot...
Continue reading ...
| |
BOB CHRISTIE | 12/17/10 07:17 PM |
PHOENIX — Attorneys general in Arizona and Nevada filed civil lawsuits Friday against Bank of America Corp., alleging that the lender is misleading and deceiving homeowners who have tried to ...