WEEKEND EDITION, OCTOBER 15 OCTOBER 19, 2012

MONDAY, OCTOBER 15, 2012

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

Is BofAs Foreclosure Review Really Independent? You Be the Judge Late last year, the country's bank regulators launched a massive program to evaluate millions of foreclosure cases and compensate homeowners who fell victim to the banks' flawed or illegal practices. Regulators dubbed it the "Independent Foreclosure Review" to emphasize that the banks would not be making key decisions about loans they had made or serviced. But a raft of evidence internal Bank of America memos and emails obtained by ProPublica, interviews with two bank staff members who have worked on the review, and littlenoticed documents released late last year by a federal banking regulator throw the independence of the review into serious doubt.

Bill Falik Speaks About a Controversial New Plan to Fix the Mortgage Crisis Having expertise in real estate, land use and development, Bill Falik started thinking about ways to stop the deterioration of the housing market after one of his housing developments in Roseville, CA was hit by a wave of foreclosures. A group of us got together and started thinking about creative approaches to resolving.

Questions From a Bailout Eyewitness IT has become almost unpatriotic to question the many and munificent bank rescues of 2008 and beyond. If you have the temerity to do so, youre likely to hear that the bailouts were the only thing standing between us and financial obliteration. You will also be told that, four years on, many of the bailouts have made money.

Illinois anti-foreclosure hundreds

workshop

draws

Bankruptcy and Foreclosure Political Bedfellows?

Strange

More than 1,000 Illinois residents facing foreclosure have turned out for an event to help them keep their homes. Gov. Pat Quinn met with some of them during Saturday's foreclosure prevention workshop in South Holland. Quinn says "keeping people in their homes strengthens families , communities and our economy."

The are two nominees for the open Senate seat in my state this election; the first well call the Challenger, and the second the Opposition. Through the mudslinging and accusations that are typical with a political race, two important facts have emerged. The Challenger filed bankruptcy in 1976 wiping out.

From foreclosure frauds to subprime shenanigans, mortgage fraud is a growing crime threat From foreclosure frauds to subprime shenanigans, mortgage fraud is a growing crime threat that is hurting homeowners, businesses, and the national economy. We have developed new ways to detect and combat mortgage fraud, including collecting and analyzing data to..

Brown signs foreclosure-prevention legislation Gov. Jerry Brown has completed work on a package of foreclosure-prevention bills aimed at preventing another massive real estate bust like the one that plunged California and the nation into a deep recession five years ago. The governor on Tuesday signed into law SB 1474 by Sen. Loni Hancock (D-Berkeley), giving the attorney general authority to impanel a statewide grand jury.

Bank of America Offers Mods with a Gag Order to Buy Silence The story is not as detailed as one would like, but in short form, a couple in West Haven, the Mandells, are facing foreclosure on a home they bought in 2000. George Mandell lost his job in 2010 and the couple tried getting a mod. They article report that they didnt qualify for certain modifications yet later Bank of America.

Four Arrested Over Real Estate Scheme in California Four suspects were arrested and charged with securities fraud, conspiracy and elder abuse for their roles in a Ponzi scheme that cost investors $2.3 million, California Attorney General Kamala D. Harris announced Friday in a release. The arrest declaration alleges that the real estate company Philip served as CEO of.

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WEEKEND EDITION, OCTOBER 15 OCTOBER 19, 2012

TUESDAY, OCTOBER 16, 2012

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

MA Supreme Judicial Court (2011) Eaton v. Federal National Mortgage Association (Fannie Mae) On remand, Eaton may renew her request for a preliminary injunction, and in that context seek to show that she has a reasonable likelihood of establishing that, at the time of the foreclosure sale, Green Tree neither held the note nor acted on behalf of the note holder. 4. Conclusion. We vacate the grant of the preliminary injunction, and remand the case to the Superior Court for further proceedings consistent with this opinion. So ordered.

Computerized Robo-Signing: Is Green Tree Servicing Taking Robo-Fraud to a Whole New Level? Never let it be said that where there is big money invested, there wont be crooks in the kitchen. It doesnt matter how big you are theres always a short cut that can that can potentially create more wealth if you dont get caught.

Annie Bell Adams, Foreclosure Victim, Sues Big Banks Over Libor Manipulation If true, the allegations have identified the most tangible negative effect of Libor manipulation so far, the human consequences of which have been hard to pin down. The city of Baltimore has sued banks over Libor manipulation, and other struggling U.S. cities are looking into doing so.

Foreclosure aftermath leaves homebuyers hurting The housing bubble and the collapse that followed left a generation of Bay Area homebuyers struggling to recover from failed investments and shattered dreams. From January 2007 through September this year, nearly 102,000 homes in the South Bay, East Bay and on the Peninsula have changed hands through foreclosure, according to ForeclosureRadar.

Banks Bungle Foreclosure Deals What would you do if the vacant foreclosure next door was falling into disrepair and threatening your own home's value? If you're like Homosassa, Fla., resident Lisa Cocuzza, you'd try to buy it and fix it up.That was Cocuzza's plan five years ago when a for-sale sign went up at a vacant foreclosure across the street. Worried that the property would continue to deteriorate and soon blight her neighborhood, she offered to pay its full asking price of $69,000.

Mortgage settlement attracts scammers of desperate homeowners The ink was barely dry on the governments $25 billion mortgage settlement with the nations biggest banks earlier this year when scam artists seized on the opportunity. In Alabama, struggling homeowners received calls promising them cash payments from the settlement, if only they would provide the routing number to their bank accounts.

HUD-certified counselors homeowners avoid foreclosure

can

help

Joy and Andrew Giordano thought they could save their Baltimore home from foreclosure without any help. But in the end, they couldn't. To avoid foreclosure, the Giordanos applied twice to their lender for refinancing under the government's Making Home Affordable program. Twice they were turned down. "We were not getting the right information from our bank,".

Cordray harbor

downplays

importance

of

safe

New Jersey Governor Blows Off Questions About Failed Foreclosure Prevention Program And that isnt the only way in which Christie is keeping aid from getting to homeowners who need it. According to a report by WABCs Jim Hoffer, another pot of federal money delivered to the Garden State to prevent foreclosure has gone largely unused:

"The safe harbor versus rebuttable presumption is a mirage," Cordray said. "Even safe harbor isn't safe. You can always be sued for whether you meet the criteria or not to get into the safe harbor. It's a bit of a marketing concept there. The more important point is.

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WEEKEND EDITION, OCTOBER 15 OCTOBER 19, 2012

WEDNESDAY, OCTOBER 17, 2012

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

Oakland aims to prevent foreclosures Like other homeowners in his East Oakland neighborhood, Manuel De Paz is underwater on his house and behind on his payments. His attempts to get a loan modification from his bank were frustrating and fruitless, he said. De Paz, 45, who provides social services to immigrants and refugees at a Berkeley church, hopes that a new Oakland initiative to prevent foreclosures will help him persuade the bank to make his mortgage more affordable.

Foreclosure: Stand With Jacqueline Barber My name is Jacqueline Barber. I spent 20 years working as an officer and detective for the Atlanta Police Department. In 1998, I was struck by a car while on the job, causing spinal injuries that left me unable to work. Forced into early retirement, I spent the next few years recovering and welcoming new grandchildren to my ever expanding family.

Thousands of South Floridians to get about $2K after losing homes to foreclosure Some 167,398 Floridians who lost homes to foreclosure may each get about $2,000 as part of the nation's largest consumer financial protection settlement. The checks will be sent out in early 2013, with more than a third going to people who lost homes in Broward, Palm Beach and MiamiDade counties.

So Where is Schneiderman? Computerized Robosigning Has Made Its Debut It seems now that the officialdom in DC has taken the position that foreclosure fraud is a thing of the past. By contrast, a number of states, most notably California, have made it clear they arent going to rely on these new servicing standards (which as we and other have discussed at length, actually serve to institutionalize foreclosure fraud by.

Dirty Tricks Playbook from the Foreclosure Mills Here is an example of one of the procedural dirty tricks that these firms play and they say they made a mistake and apologize when they are caught, but it a threat to a hearing that you have already won, lurking so that you are not prepared to argue against what they try to present in what amounts to a fake venue for a motion for rehearing.

Renters in Foreclosure: A Fresh Look at an Ongoing Problem While the number of foreclosures has dramatically increased since NLIHCs 2009 report,Renters in Foreclosure: Defining the Problem, Identifying Solutions, the estimated proportion of renters affected by foreclosures has remained relatively constant at 40 percent. That is, renters continue to constitute 40 percent.

St. Louis County judge blocks new foreclosure ordinance Associate Circuit Judge Brenda Stith Loftin granted a temporary restraining order at the request of the Missouri Bankers Association Inc. and Jonesburg State Bank. The Court finds plaintiffs will suffer immediate and irreparable financial and property damage if the Defendants are allowed to implement or enforce.

Banks Threaten Elderly Veterans With Foreclosure San Francisco - Robert Moses is 92, an African American and a World War II Navy veteran. Don Baird is a couple of weeks shy of his 90th birthday, is scheduled for heart surgery next week, and is also a World War II veteran. Aside from being former servicemen, both men also share one other thing: they are about to lose the homes they owned, each for more than four decades, to foreclosure.
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WEEKEND EDITION, OCTOBER 15 OCTOBER 19, 2012

THURSDAY, OCTOBER 18, 2012

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

FHFA Seeks Public Input on Building a New Infrastructure for the Secondary Mortgage Market The Federal Housing Finance Agency (FHFA) today released for public input a white paper on a proposed framework for a common securitization platform and a model Pooling and Servicing Agreement. Developing a new securitization infrastructure is a key goal of the FHFA Strategic Plan for Enterprise Conservatorships and builds on other initiatives already underway to align and improve the business practices of Fannie Mae and Freddie Mac.

Forced to live alongside squatter in my Detroit house, woman says Heidi Peterson always dreamed of living in a historical home. In May of 2010, she bought one in Detroit's Boston-Edison District for $23,000. After being away for a year, she said she returned to her house last week and found a woman living there. Peterson learned from neighbors she had been living there for a few months. Peterson claims the squatter changed the locks, reworked the plumbing, replaced her...

House Starts Balloon to Well Below Average from Catastrophically Below Average The big news in housing today is that residential construction jumped above expectations in September. Housing starts rose 15% month-tomonth, and permits for new construction increased 11%. Year over year, starts are over 30% up, while permits are nearly 45% up. I think this shows as much as anything what a catastrophe housing has been for the economy over the last few years.

To avert foreclosure, firm turns homes into ad space Would you let a company paint your house in Gumby green and neon tangerine as the background for corporate logos and other advertising? What if the company paid your mortgage? Thats the deal California advertising executive Romeo Mendoza is offering as he launches a somewhat altruistic some might say obnoxious campaign here and across the nation to promote his new .

Second Foreclosure Crisis Looming On the Horizon In a report published by the National Consumer Law Center called The Other Foreclosure Crisis: Property Tax Lien Sales, the National Tax Lien Association said that annual property tax delinquencies have been on the rise during the financial crisis and now amount to approximately $15 billion. Furthermore, an unnamed industry participant cited that $5 billion of the total tax liens are sold to investors at tax sales each year.

On FICOs Dubious Explanation of Why it Treats Short Sales the Same as Foreclosures April Charney sent me a link to a post which had a condescending explanation of a recent piece by FICO that warrants further discussion. The FICO article attempted to justify its position that someone who enters into a short sale gets his credit score dinged as badly as for a foreclosure. Yes, you read that correctly. One of the reasons many borrowers go to the effort to arrange a short sale, as opposed to the faster.

Ex-Regulator Has Harsh Words for Bankers and Geithner Ms. Bair painted Mr. Geithner, the former head of the Federal Reserve Bank of New York, as an apologist for Wall Street, opposing some postcrisis reforms. She questioned whether his effort to inject billions of dollars into nine big banks masked a rescue intended solely for Citigroup, a theory that other government officials have rejected.

St. Louis County Council approves changes to foreclosure mediation law The St. Louis County Council on Tuesday night approved changes to a law approved in August that requires banks to participate in formal mediation before foreclosing on county residents' properties. The changes were made in response to concerns from lenders in the wake of the new law, but the ordinance remains strong in its intention to help residents facing foreclosure, said Councilwoman Hazel Erby, D-University City. Erby, the sponsor, said she had sought the protections against foreclosures for homeowners after seeing the "unfairness" of the system.
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WEEKEND EDITION, OCTOBER 15 OCTOBER 19, 2012

FRIDAY, OCTOBER 19, 2012

ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

Queens foreclosure attorney beats back US Bank and obtains dismissal The Honorable David Eliot, Justice of the Queens County Supreme Court issued a ruling thwarting the efforts of US Bank as Trustee in a foreclosure case. In his decision Judge Eliot held that... In an action to foreclose a mortgage, plaintiff establishes standing by demonstrating that it is both the holder or assignee of the subject mortgage as well as the holder or assignee of the underlying note and he further held In the case at bar, plaintiff failed to demonstrate that it had standing to commence the action..."

States Shift Foreclosure-Suit Funds When states received $2.5 billion from big banks in a mortgage-foreclosure settlement earlier this year, the expectation was that most of it would be used to aid distressed homeowners. But so far, less than half of the money has been designated for that causewith much of the rest going to help close state budget gaps, says a report scheduled for release Thursday.

Occupy Chicago and Overpass Light Brigade Participate in Anti-Eviction / Foreclosure March 14.5 million homes and an even greater number of families have been unjustly forced from their homes since the beginning of the financial meltdown (2007). Banks have used unethical (robo-signers) and draconian methods (predatory lending) to rip families from their homes exacerbating an already dire housing market.

Florida has nation's highest foreclosure rate "Southeast Florida was the epicenter of the speculative flipping and adjustable-rate, toxic mortgages that were destined for failure and foreclosure," McCabe said. "While our recovery may be under way, we still have a ways to go." One in 318 homes in the Sunshine State was in some stage of foreclosure in September, according to figures being released Thursday by RealtyTrac Inc.

Palm Beach County ruling: Foreclosure law firm wrong to charge for paperwork served to 'unknowns' A foreclosure law firm violated state law by charging homeowners for summonses served on John and Jane Doe and other unknown parties who may have claims on the property, a Palm Beach County judge has ruled. It is common practice for law firms to serve foreclosure paperwork on homeowners, as well as.

Scott Brown Worked as a Real Estate Attorney For Notorious Document Fraudster LPS According to Brown, he worked with small community banks and small mortgage companies in his part of Massachusetts, and as a title agent for two companies in particular: Fidelity National and First American. Now thats a notable disclosure. As Adam Levitin points out, Fidelity National is the former parent company of LPS, one of the worst offenders in the foreclosure fraud industry.

CA Man Charged With Operating A Multimillion Dollar Foreclosure Rescue Scheme Alan David Tikal, 44, of Brentwood, Contra Costa County, Calif., was arrested on Friday at his home on a complaint charging him with mail fraud for masterminding a multistate scam that defrauded distressed homeowners. According to the complaint filed in federal court in Sacramento, Tikal has victimized more than 1,000 homeowners, who have paid in excess of $3.1 million. According to court documents, beginning in January 2010 and continuing to the present.

The Case Against Allowing MERS To Initiate Foreclosure Proceedings CONCLUSION Whether foreclosure law and the recording system should be reformed is a valid question. But it is one that should be answered by legislatures, not by the mortgage industry.174 While the MERS system may be a commercially effective means of business,175 it runs afoul of established foreclosure law, and courts should rule accordingly. As one court put it, [t]he [lending] institutions seem to adopt the attitude that since they have been doing this for so long, unchallenged, this practice equates with legal compliance. Finally put to the test, their weak legal arguments compel the Court to stop them at the gate.176
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