Foreclosure // Current TV

Obama Pushes Congress to Assist Homeowners (VIDEO)

‎'That’s why I’m sending Congress a plan that will give every... more

StewSteve
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6 days ago
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WHY ARE THESE PETITIONS EVEN NECCESSARY?

I received this petition and call to action today from MoveOn.Org. I'd like to know why this petition is even neccessary?
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[Today could be the day when President Obama decides if he'll stand with homeowners or with the big Wall Street banks behind the housing crisis. We need to keep the pressure on the president to launch a full federal investigation now, and not to give into the banks' demand for a sweetheart settlement deal. Can you make a phone call to the president right now demanding an investigation?White House comment line: 202-456-1111
Then, please report your call by clicking here:
http://pol.moveon.org/call?cp_id=1707&tg=704&id=35007-20389118-fsWnFDx&t=3]
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Why are we having to CONVINCE our president to do the right thing? I made the call, but I told it like it is, please feel free to follow my script if you choose to. I believe that we have done enough pussyfooting around with those who are supposed to represent us in the White House.

... There are hundreds of thousands of families who are still living in the homes that have been foreclosed on, hoping and praying that some justice will be done , that right action will take place on their behalf. If you, Mr. President, give a settlement to the banks which have created this poverty economy, the banks will have a field day with an unprecedented LAND GRAB...Make no mistake, for the Millions who have already been ousted, duped into thinking there was nothing they could do to save their homes, to those who have yet to be put out in the streets if you betray them/us even further, you will see such a swell of Occupiers on the White House lawn as will be inconceivable.

Will such a cowardly and treasonous act cause a civil war? Probably... Is this what you want? Is this your goal for your country, to have your foot upon the necks of Americans? Are you too, OWNED by the banks? I would not have thought so, but if you condone the fraudulent and criminal actions of the banks and investment firms that have brought this suffering upon the American People, you will have shown yourself to be without moral conscience, without patriotic affiliation to the people you have sworn to serve and that you are without the backbone to stand up to the corruption that is the downfall of our civilization in this moment, at this time. If you betray your people, I do not know how you will possibly be able to look your wife and children in the eye. Shame is upon you for even considering this settlement.

Mr. President, Do the right thing, REFUSE any kind of settlement until a complete investigation can be carried out and criminal charges brought to bear on those whose greed and corruption have injured not only our own countries economy, but have crossed oceans and touched the lives of many other countries in the world. Become the leader you were meant to be, that you promised you would be. Stand up and act with purpose and solidarity with your people, not with big money, big banks or big corporations.

Most Sincerely, your fellow Americans.I received this petition and call to action today from MoveOn.Org. I'd like to... more

Penni
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18 days ago
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4 comments

President Obama is on the brink of cutting a backroom deal that would give bankers broad immunity for illegally throwing tens of thousands of Americans out of their homes. : politics

To help expose the looming cash-for-immunity deal between the Obama administration and... more

dryeraser
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3 months ago
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1 comment

Florida Middle Class Gets Direct Reach-Out From President Obama

Hearts & Minds confused, conflicted and up for grabs in the critically swinging... more

danieltilson
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3 months ago
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Foreclosure firm mocks victims with Halloween get-up

A homeless-themed party might sound like a good idea for a Halloween celebration. But what if it’s celebrated at a foreclosure law firm that handles mortgage issues for all the major banks and whose business actually leaves people homeless?
Unlike many costume Halloween parties, the black-humor masquerade has sparked overwhelming anger. Employees of Steven J. Baum, which represents lenders including Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, are being blamed for mocking the homeowners their law firm targets with foreclosure.
Photos from their annual Halloween Party were released by New York Times columnist Joe Nocera. He got photos from a former employee of the foreclosure law firm, who asked to remain anonymous because she “feared retaliation.”
“In an email, she said that she wanted me to see them because they showed an appalling lack of compassion toward the homeowners — invariably poor and down on their luck — that the Baum firm had brought foreclosure proceedings against,” Nocera wrote in his October 28 column.

In one picture, two Baum employees are dressed like homeless people, with fake dirt on their faces. One of them holds a bottle in a paper bag, and the other holds a sign around her neck that reads: “3rd party squatter. I lost my home and I was never served.”

Nocera explains that his source said that “I was never served” is meant to mock “the typical excuse” of the homeowner trying to evade foreclosure proceedings, he writes.
The other woman in the photo holds a bottle of liquor in a paper bag and pushes a shopping cart with a sign reading "will work for food."
There was also another photo showing a coffin with a picture of a woman whose eyes have been cut out. A sign on the coffin reads: “Rest in Peace. Crazy Susie.” Nocera explains that this is a reference to Susan Chana Lask, a lawyer who “had filed a class-action suit against Steven J. Baum and had posted a YouTube video denouncing the firm’s foreclosure practices.”

According to Nocera, the firm is already under investigation by New York’s attorney general, and it recently agreed to pay $2 million to resolve an investigation by the Department of Justice into whether it had "filed misleading pleadings, affidavits and mortgage assignments in the state and federal courts of New York."
In a statement released by Steven J. Baum, the company stated that Nocera’s column was “another attempt by The New York Times to attack our firm and our work.”
http://rt.com/news/foreclosure-firm-halloween-homeless-203/A homeless-themed party might sound like a good idea for a Halloween celebration. But... more

MotherForTruth
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3 months ago
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3 comments

Foreclosure Firm Steven J. Baum Holds Homeless Themed Halloween Party (PHOTOS)

The law firm of Steven J. Baum in Buffalo, New York, held a homeless themed Halloween... more

dryeraser
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3 months ago
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"Banker Man"

My home town ain't no town, it ain't no home.... banker came and took away... more

paulfogarty
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4 months ago
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“To Express a Feeling of Mass Injustice”: #OccupyWallStreet Hits a Tipping Point

Here is what OCCUPY WALL ST is doing:
The declaration of the occupation of New York City, the first official statement from the occupation, leads with the need “to express a feeling of mass injustice.” You could hardly come up with a better elucidation of that injustice than the fact that social insurance programs like Medicare and Social Security and welfare are being offered up for cuts, while the richest people and corporations aren’t asked to contribute. Corporatism and massive inequality is the core grievance of this occupation, and of the dozens of smaller movements we’ve seen over the past year. They are connected in spirit and sentiment. And maybe the bill of particulars is variegated, some might say “unfocused.” But everything on that list springs from that core grievance.

And the only call to action, at the end, is one of greater civic participation:

We, the New York City General Assembly occupying Wall Street in Liberty Square, urge you to assert your power.

Exercise your right to peaceably assemble; occupy public space; create a process to address the problems we face, and generate solutions accessible to everyone.

To all communities that take action and form groups in the spirit of direct democracy, we offer support, documentation, and all of the resources at our disposal.

Join us and make your voices heard!
That’s a message that can build and grow something quickly. And we’re already seeing that, mass arrests notwithstanding. Major trade unions and labor leaders are taking the side of OccupyWallStreet and providing reinforcements. The culture has already created the narrative that the protesters are plugging into. A series of direct actions, many of which were already planned weeks ago, have picked up the “Occupy” branding and are rolling out across the country, with 100,000 people signed up on Facebook to support them. Even major media types have understood that this is something not only to be studied, but to be celebrated.
http://tinyurl.com/3n5fkenHere is what OCCUPY WALL ST is doing: The declaration of the occupation of New York... more

LOrion
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4 months ago
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1 comment

Just back from IRAQ Tim Collette has a message for you. Thanks for preventing CHASE from taking fathers home.

CHANGE.org saved soldier's home (with father) on return from IRAQ. Chase had... more

LOrion
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5 months ago
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Keeping it Current - News Roundup 6/10/11

Each week, the community staff shares their fav stories. Read on to see the... more

duzins
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8 months ago
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2 comments

Bank of America gets foreclosed by homeowner. Deputies arrive with trucks to seize assets and cash

I know this story strays from the usual spotlight on human rights, but, after watching... more

MauriceLacunza
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8 months ago
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Homeowner Forecloses On A Bankster

Homeowner Forcloses On A Bankster Wow, what a rare exceptional GEM...right here in... more

thinkingblue
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8 months ago
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Homeowners Foreclose on Bank of America

Tables Turn: Deputies and movers show up at bank to seize property for homeowner

joeeddy
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8 months ago
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1 comment

Foreclosure-gate 6.0 makes Attorney General's turn about, jump ship?!

via: Naked Capitalism /by Yves Smith
California Establishes Mortgage Fraud Task Force
Posted: 23 May 2011 12:29 PM PDT
In further proof that attorneys general are abandoning the 50 state attorneys general investigation, California AG Kamala Harris announced that she is establishing a 25 person mortgage fraud task to look into abuses across the spectrum, from the individual borrower level to practices, such as questionable transfers to trusts when the securitizations were formed, that hurt investors.
Note that the defection of a second Democrat (Harris follows New York’s AG Eric Schneiderman in creating her own effort) from the AG investigation is particularly significant. A number of Republicans joined at the 11th hour and were never on board with the premise of talks, so their defection is expected. By contrast, the AGs from solidly Democratic states were expected to stay the course. The fact that the AGs from two major states have effectively left the talks confirm what we have said all along: that the negotiations were not serious precisely because no investigations had been conducted.
We applaud this step forward by Harris, since it shows at least some public servants are taking mortgage abuses seriously. From the Los Angeles Times (hat tip reader Denotis):

The team of 17 lawyers and eight special agents from the state Department of Justice will pursue three major areas, Harris said in an interview:
•Corporate fraud, including instances in which bundled mortgages were sold as securities to the state or its pension funds under false pretenses. Harris said her office plans to prosecute some cases under California’s False Claims Act, which she described as “one of those very powerful tools that California uniquely has … to pursue, in essence, what are false claims that are submitted to the state.”
•Scams, including instances in which consultants, lawyers and others took fees from people in foreclosure, saying they would help the homeowners get loan modifications or other remedies, but delivered nothing.
•Fraudulent lending practices, including deceptive marketing, failure to fully disclose loan terms and qualifying people for loans who couldn’t afford the terms…
“We are looking at a situation of up to $640 billion in wealth having been lost because of this wave of foreclosures that has hit the state,” Harris said, referring to the decline in homeowner equity. “There is a direct connection” between mortgage fraud “and the issue that we are challenged with in terms of our state budget crisis.”…
Harris said her initiative was distinct from the multistate investigation because it would go after all aspects of the mortgage-lending business…
Harris said that although successful prosecutions of major players in the mortgage meltdown have been difficult, the severity of the crisis called for a tough-minded approach to mortgage fraud, one that could target executives of major financial institutions.
“If the evidence leads us there, no case will be too big or too small to pursue,” Harris said. “There remain millions of people affected by the mortgage crisis.”…
“The burden of proof in a criminal case is very high,” Los Angeles defense attorney Jan Handzlik said. “It would be necessary for the AG to prove beyond a reasonable doubt that the mortgage executives had knowledge of the fraud and acted with a criminal intent.”….
William K. Black, a University of Missouri-Kansas City law professor and an aggressive regulator of the savings and loan industry after its crisis in the 1980s, said the state prosecutors could be successful if they carefully chose their targets.
Black asserted that the federal government has the means to pursue these cases but hasn’t shown the will.
“The success rate in the savings and loan cases, despite the fact that they were more complex … was 90%, and this was against the best criminal defense attorneys in America,” Black said.via: Naked Capitalism /by Yves Smith California Establishes Mortgage Fraud Task... more

figgdimension
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9 months ago
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4 comments

Owning a Home in San Francisco

There’s been lots of articles in the paper recently about owning a home being a... more

baghdadbythebay
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9 months ago
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The Evil that Banks Do

Meet Virginia Holwell. Virginia paid her taxes this year. She worked for the state of... more

JonRaymond
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10 months ago
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10 Types of Companies Involved with Foreclosures

When a piece of property enters into the foreclosure process, there can be several... more

AngelAlina
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10 months ago
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US Banks in 'Cash for Keys' Foreclosure Talks

The five biggest US mortgage servicers were told this week at a private meeting with regulators to consider paying delinquent borrowers up to $21,000 each as part of a broader settlement of the foreclosure crisis.

People who attended the meeting, chaired by the Federal Deposit Insurance Corporation on Monday, said the industry-wide “cash for keys” program would involve the biggest servicers, led by Bank of America, paying borrowers as an incentive to leave their homes.

Banks would pay borrowers who are more than 90 days behind on mortgage payments up to $1,000 to seek independent financial advice and up to $20,000 in cash as a “fresh start” payment towards living costs in a new home. They would have to vacate their properties quickly and leave them in good condition.

Fannie Mae and Freddie Mac, the government-sponsored mortgage guarantors, and private investors who own mortgage loans were also mentioned as possible providers of cash in the scheme. Eligible borrowers would likely include some, but not all, of the 4.8 million who are more than 90 days in arrears.

Sheila Bair, FDIC chairman, raised the idea but people involved said it was not an official government proposal and was rejected strongly by some of the banks.

Officials and bank executives discussed other options at the meeting, which had been requested by some in the industry. The FDIC and the servicers declined to comment. Some banks already pay some borrowers to vacate their homes because it proves cheaper and quicker than a court-ordered eviction but payments are generally much smaller.

Foreclosures were halted by banks across the country when it emerged that many of the legal documents were being completed by so-called “robo signers."

The Department of Justice; state attorneys-general; banking regulators, including the FDIC; the Treasury; and the new Consumer Financial Protection Bureau are among the agencies trying to come to a settlement with the industry. A combined penalty of about $20 billion has been discussed, with one idea to use the money to write down the outstanding debt of struggling homeowners.

However, prospects for a single “mega settlement” have worsened because officials disagree on the level of penalty and whether money raised in fines should be used for a principal writedown. The banking regulators, who do not agree among themselves, are nonetheless keen to come to an agreement quickly.

One way through the gridlock, which has been discussed among officials, is giving the servicers a menu of options for settlement, which might include principal writedown or a “cash for keys” scheme.

http://www.cnbc.com/id/42265558The five biggest US mortgage servicers were told this week at a private meeting with... more

Schnookums
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11 months ago
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Foreclosure-Gate 4.0 - Fraudclosures

For over two years I’ve had a front row seat for the foreclosure crisis, the... more

figgdimension
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11 months ago
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15 comments

JaMarcus Russell Loses His Houses

Even former athletes with guaranteed contracts are not immune from the current... more

samthesixth
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11 months ago
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