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Friday, December 31, 2010

Richard Eskow latest Huff Po Article

Pictures of MERS, Part 1: Corporate Documents Illustrate the Mortgage Shell Game


http://www.huffingtonpost.com/rj-eskow/pictures-of-mers-part-1-c_b_769181.html

Wednesday, December 22, 2010

Just registered the domain name....

fuckedbybankofamerica.com

Merry Christmas!

Lets buy them up people.. buy up BOA domain names and let them have to come to us to buy them back!

Sunday, December 19, 2010

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 modify mortgages in two of the nation's most foreclosure-damaged states.

Bank of America violated Arizona's consumer fraud law by misleading consumers who tried to reduce their monthly payments to keep their homes, state Attorney General Terry Goddard said. The bank also violated the terms of a 2009 consent agreement requiring its Countrywide mortgage subsidiary to implement a loan modification program, the Arizona lawsuit alleges.

Hundreds of homeowners kept making their mortgage payments because Bank of America repeatedly assured them that their loans were being modified, Goddard said. Instead, many lost their homes anyway.

"Those people could have used that money for something else," Goddard told The Associated Press. "They were deceived into continuing to make mortgage payments when they had no hope of saving their homes."

Nevada Attorney General Catherine Cortez Masto told the AP that the Silver State's lawsuit was a last resort to try to get the bank to change its ways. It was filed after several discussions with bank managers led to assurances but little more.

"Clearly there is a disconnect between what Bank of America tells me at the management level and what's happening on the front line," Masto said.

Masto said separate lawsuits show the bank's problems with consumers are widespread.

"The only thing that I'm asking is that (Bank of America) give them a reasonable response in a timely manner," she said. "It is, in my perspective, a callous disregard for what we are telling them."

Nevada and Arizona are among the states hardest hit by homeowners who have defaulted on mortgages in the last few years as adjustable payments soared, people lost their jobs, and home values collapsed. One out of every 99 households in Nevada received a foreclosure notice last month, according to RealtyTrac Inc., and Arizona's rate wasn't far behind.

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The Arizona attorney general's office was deluged with consumer complaints and launched an investigation more than a year ago, Goddard said. Settlement talks with Bank of America began in April but ultimately collapsed Thursday.

Goddard, a Democrat, is leaving office in January after an unsuccessful run for governor and will be replaced by Republican Tom Horne. A Bank of America spokesman criticized Goddard for filing the lawsuit in his last days in office while multistate negotiations on foreclosures were under way.

Dan Frahm, a senior vice president for the Charlotte, N.C.-based bank, said it shares the attorneys general's goal of helping homeowners. "We are disappointed that the suits were filed at this time, however, because we and other major servicers are currently engaged in multistate discussions led by Attorney General (Tom) Miller in Iowa to try to address foreclosure related issues more comprehensively," Frahm said in an e-mailed statement.

"Bank of America has been a cooperative partner with the attorneys general, has worked with state leaders to evolve programs and resources to broaden assistance to distressed customers, and we are already under way with further improvements to our processes and programs for Bank of America customers," Frahm said.

Bank of America has completed nearly 750,000 loan modifications and has foreclosed on fewer than half that many homes, Frahm said. Many of the foreclosures did not qualify for loan modifications.

The Arizona lawsuit, filed in Maricopa County Superior Court, alleges that the bank has repeatedly violated an October 2008 consent agreement between Bank of America and 11 states requiring the bank's Countrywide subsidiary to modify hundreds of thousands of loans. Arizona's agreement was finalized in 2009.

Countrywide was accused of engaging in widespread deceptive practices with its customers, and Bank of America agreed to reduce principal or interest payments by up to $8.4 billion on those loans.

But Bank of America, which had acquired Countrywide in July 2008, failed to make timely decisions on modification requests and went ahead with foreclosures, Goddard said.

Bank of America is the No. 1 loan servicer in both Arizona and Nevada. It's also tops in complaints to Arizona regulators, and not just because of its size, Goddard said.

"They're head and shoulders above any other financial institution," he said. "Nobody's got a great record, but Bank of America's is worse than any of them.

Friday's lawsuit in Arizona asks for contempt citations against the bank for violating the consent agreement. It also seeks restitution for consumers, civil penalties, legal fees, plus $25,000 for each consent agreement violation and up to $10,000 for each violation of the Arizona Consumer Fraud Act.

Nevada's complaint accuses the bank of operating its loan modification program in violation of the Nevada Deceptive Trade Practices Act. It seeks civil penalties and restitution along with other fees.

Bank of America shares rose 5 cents to $12.57 Friday.

___

Associated Press writer Oskar Garcia in Las Vegas contributed to this report.

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Sunday, December 12, 2010

MONDAY DECEMBER 13, 2010 YOU CAN MAKE A DIFFERENCE

On Monday December 13, 2010 we the people of the united stated of America are going to stand together and make our voices heard. You can make a difference. All day Monday we will be calling our sentators saying NO MILLIONAIRE BAILOUTS. This is your chance to be heard, and to make a difference.

You can do this... don't be lazy! If you don't believe in bailing out the Millionaires voice your opinion. It matters.

GO TO THIS WEBSITE AND SIGN UP.

POST THIS ON YOUR FACEBOOK PAGE. STOP THE MILLIONAIRE BAILOUTS.



http://pol.moveon.org/phone_in_filibuster/?id=25458-18130096-mx0kRLx&t=1

Friday, December 10, 2010

Zillow is at it again....

When will someone put a gag order on Zillow! Zillow destroyed the market and now it is damaging the integrity of what is left. Zillow is a make- shift phoney appraisal service that is ineffective and extremely destructive.




http://www.bloomberg.com/news/2010-12-09/homes-in-u-s-poised-to-lose-1-7-trillion-in-value-this-year-zillow-says.html

Fa la la la la.....

Its a Merry Christmas on Wall Street!

Big bonuses for the big boys, while 10% of Americans are unemployed and the other 90% oh excuse me 87% are living paycheck to paycheck........(of course 3% of us are still kicking ass!)

http://www.bloomberg.com/video/65170584/

Sunday, December 5, 2010

CALL AND ASK THE TREASUREY AND WHITE HOUSE..

TO MODIFY LOANS AND START PRINCIPAL REDUCTIONS.

THESE CALLS WILL TAKE 1-2 MINTUES. THE TREASURY CALL MAKES YOU GO THROUGH SOME ANNOYING PROMPTS.

JUST SAY FORCE BANKS TO OFFER PRINCIPAL REDUCTIONS AND LOAN MODIFICATIONS.
FORECLOSURES HURT EVERYONE.


The Treasury comment line is 202-622-2970, then press #1 and leave a message; the White House comment line is 202-456-1111, and you get to get to talk to a live operator.

Wednesday, November 24, 2010

Appeal Denied!

Supposedly the method they used to verify my address was looking on my credit report (which by the way shows my correct address and the house in question.) 

They say that my credit report shows another address (not true!)  I am looking at the credit report right now.. with the correct address.

Are they trying to see how many people they can get institutionalized?

Tuesday, November 16, 2010

The public at large still blames the homeowner.

I was in a real estate finance class tonight with a group of other Realtors.  The topic of the foreclosure mess came up and the agreement was to blame the home owner 100 to 1.  ( I was the 1.)

The entire class was in an uproar when I said the banks are to blame.

Its shocking how little the general public is aware of.

NOVEMBER 16TH 2010 HEARING!

"Against this backdrop of stark uncertainty, the Senate Banking Committee is holding a hearing Tuesday that will include testimony from Bank of America and JPMorgan Chase, two of the banks at the center of the turmoil. "

By DAVID STREITFELD


Some of this stuff is really funny.

"In prepared testimony, Bank of America said it was streamlining the process for borrowers fighting foreclosure." 

They didn't mention that they are streamlining them towards foreclosure

By Ariana Eunjung Cha
The witness list for the first congressional hearing focused on the foreclosure crisis, to be held Nov. 16 at 2:30 p.m. before the Senate Banking Committee, is out.
The list includes two company officials -- Barbara Desoer, president of Bank of America Home Loans, and David Lowman, chief executive of Chase Home Lending.
Also testifying are Tom Miller, the attorney general of Iowa, who is leading the 50-state investigation into the issue; Adam J. Levitin, the Georgetown University law professor who briefed Citigroup analysts who wrote a research note last month about the problems with paperwork in securitized mortgages that shook up Wall Street; and Diane E. Thompson, an attorney with the National Consumer Law Center who wrote a much-circulated report on why mortgage servicers foreclose when they should modify loans.
The House financial services committee will hold a separate hearing on "Robo-Signing, Chain of Title, Loss Mitigation and Other Issues in Mortgage Servicing" on Nov. 18.

Thursday, November 11, 2010

HERE IT IS.... AND I THOUGHT I WAS CRAZY!

"Bank of America has admitted that HAMP's "implicit" purpose is to help the banks that made the fraudulent loans -- not the borrowers."
"HAMP's parallel goal is funneling more money to the banks that induced the fraudulent loans. Data indicates that neither the HAMP modifications nor those undertaken independently by the banks actually benefit homeowners"

What this means is that homeowners are left with a terrible investment, paying a mortgage that is far larger than the value of the home. Because most modifications will lead to eventual default, all they do is to allow the bank to squeeze more life savings out of the homeowner before taking the home. Bank of America wants to be congratulated for such activity.



http://www.huffingtonpost.com/william-k-black/post_1214_b_779193.html

Thursday, November 4, 2010

CITY OF SAN JOSE

MOVES ONE MILLION DOLLARS OUT OF BANK OF AMERICA IN PROTEST OF THE FORECLOSURE SCANDAL.

this is a great Discussion on blogtalkradio

blogtalkradio

David Dayen Virtually Speaking with Jay Ackroyd

http://virtuallyspeaking.ning.com/opensocial/ningapps/show?appUrl=http%3A%2F%2Fwww.blogtalkradio.com%2Fning%2FBTRNingProd.xml%3Fning-app-status%3Dnetwork&owner=2fjqf23hkcvxb
He says they need to reset the housing market by not foreclosing.


HAMP WAS BASICALLY CREATED BY THE BANKS SO THAT THE GOVERMENT WOULDN'T FORCE THEM TO WRITE DOWN THE MORTGAGE LOANS~

IT WAS WATERED DOWN.

ONE YEAR AND 8 MONTHS LATER, ONLY UNDER 500,000.  ANOTHER 700,000 WERE DENIED AND GIVEN A DEMAND PAYMENT (THAT'S ME:( )

FOR THE 700,000 PEOPLE IT MADE THEIR SITUATION WORSE!  THE FIRST TRIAL MOD READ AS A DEFAULT. 

BANKS WERE SUPPOSED TO TAKE 3 MONTHS, BUT THEY STRUNG PEOPLE ALONG A YEAR OR MORE AND THEN DENY WITHOUT EXPLANATION...

ASKING FOR DOC ABOVE AND BEYOND, VIOLATION OF HAMP RULES.

NOT ONE SERVICER HAS BEEN SANCTIONED FOR THIS! 

THEY GAVE PEOPLE FALSE HOPE!

THE INCENTIVES ARE TO FORECLOSURE.

BANKS DO NOTHING MORE THAN MODIFY A TOKEN AMOUNT OF LOANS AND CANCEL EVERYONE ELSE OUT.

PROMISES WERE MADE.  ITS HURTING LIBERALISM.  ITS NOT A LIBERAL PROGRAM BUT IT IS PERCEIVED AS ONE.

THEY ARE ALLOWING THE BANKS TO EXTRACT A FEW MORE PAYMENTS OUT OF PEOPLE,
THEN FORECLOSE TO CREATE SHADOW INVENTORY!

ITS A NICE MONEY MAKING SCHEME!

Its caught up in this foreclosure fraud.

SOLUTIONS:

THINGS BEING DONE.
AFTER THE NOTORIETY
1. BANKS VOLUNTARILY INSTITUTED MORATORIUMS

2. JUDGES ARE STARTING TO TAKE NOTICE

3. STATE ATTORNEYS GENERAL INVESTIGATION

4. INVESTORS WANT BANKS TO REPURCHASE LOANS


AT WHAT POINT DOES THE THREAT OF CRIMINAL SANCTIONS CAUSE THEM TO MODIFY LOANS.

FIX THE HAMP PROGRAM

LOOKING FOR A MANDATORY MODIFICATIONS

Monday, November 1, 2010

PROTEST ORGANIZING PLEASE SIGN UP IN YOUR STATE UNDER COMMENTS SECTION

We need leaders... all over the country.  We are planning a Protest on all our State Capitals on the same day.

I am in PA I can take Harrisburg.

UNDER THE COMMENT SECTION PICK YOUR STATE AND SIGN UP. 

WHEN WE GET ENOUGH PEOPLE WE WILL PICK THE DATE

Sunday, October 31, 2010

Richard Eskow my new favorite writer!

http://www.huffingtonpost.com/rj-eskow/getting-medieval-on-your_b_775482.html

Here is his article:

The current debate over foreclosure fraud has been a revelation, even for those of us who have become familiar with the power of moneyed interests to influence the national dialog. Despite overwhelming evidence of widespread lawbreaking and deception, there's still a popular point of view that says that fraudulent foreclosures are "just a technicality" and that what we're seeing is neither a systemic problem nor a crime wave of epidemic proportions.
Actually, it's both. Here are four reasons why the foreclosure fraud scandal is very important. They're counterarguments to the conventional "paperwork" wisdom, a point of view whose numbing effects threaten to anesthetize us to the profound significance of this scandal.
1. DragnetA recent New York Times article is just one of many that put names and faces to the foreclosure scandal: A man who paid cash for a vacation cabin found that foreclosure papers had been filed and his locks had been changed, despite the fact that there was no mortgage on the property. A couple was foreclosed upon -- successfully -- by a mortgage trust that court papers say doesn't exist. A woman in Colorado also had her locks changed by mistake, so the bank offered to let her skip a mortgage payment as an apology. When she did, foreclosure papers were filed on her.

The writers of the Times article also frame the counterargument: "Even if the paperwork was faulty, the fact remains that most homeowners in foreclosure have not paid their bills ... " That's Argument #1 in favor of downplaying the foreclosure fraud controversy: Sure, there have been some outrageous cases like the ones listed above. But the vast majority of people facing foreclosure really have mortgages, and they're really delinquent on them. So, the argument goes, what's the big deal? Fix the paperwork, weed out the errors, and let's all get on with our lives.
Here's the real problem: Any massive invasion of personal rights and liberties will catch some people who deserve to be caught. If we placed the entire country under martial law, initiated a state of siege, and rounded up every suspicious-looking person in America with a nationwide dragnet, many -- perhaps most -- of the people dragged off to jails would be guilty of something. But that's not how free societies operate. People have rights, even if they owe money.
The legal process around foreclosures has become a massive dragnet, run and managed by the financial services industry with the compliance of too many state and national legal institutions. The most egregious stories -- i.e., people who paid cash for houses and had them seized anyway -- are almost certainly a small minority of the foreclosure cases out there. But they show us how badly corrupt the entire process has become, and how far we've drifted away from fundamental principles of due process.
2. The Dukes of Moral Hazard
Here's the complete sentence from the Times article: "Even if the paperwork was faulty, the fact remains that most homeowners in foreclosure have not paid their bills, often because they bought more house than they could afford or because they lost their jobs. As a result, they will most likely lose their homes eventually, once the banks clean up their paperwork ..." That's a point the financial services industry is only too happy to underscore: "We believe that the overwhelming majority of the cases will be that the loan was seriously delinquent and needed to go to foreclosure," the article quotes an industry spokesperson as saying.
While the Times journalists did some excellent reporting for this piece, their sentence (above) framed the situation so well - from the financial industry's point of view, that is - that a quote from the industry itself was almost redundant. Sure, a lot of people "bought more house than they could afford," and some of them did so irresponsibly. But the financial industry's all too happy to leave it at that, characterizing all these foreclosures as problems of individual character rather what they really are: a breakdown of process, law, and ethics on a systemic level.
According to the most recent report from Lender Processing Services, Inc., 9.22% of all mortgages in the US are delinquent - and that's not counting those that are in foreclosure. 8.22% are either in foreclosure or more than 90 days overdue. All told, roughly 11% of all mortgages are either delinquent or in the foreclosure process. That's a problem with the system, not the product of millions of flawed individual characters.
Here's the bottom line: More than one in ten mortgages is in bad trouble. What's more, one in four mortgages is underwater, which means there's not enough collateral to cover billions of dollars in loans. The generous explanation for the banking industry is that they're completely incompetent at what they do. A huge chunk of the loans they've written are bad. Forgive the language here, but the bank-friendliest explanation for this systemwide breakdown is that bankers suck at what they do.
But the real explanation is that they knew these loans were bad -- and wrote them anyway.
Why? Because they intended to make quick and easy money by pumping up housing values, churning loans to customers who they knew couldn't pay. (The customers didn't know that, but the banks did.) They thought they could float this crap game forever, riding an ever-growing bubble and tossing the defaulting homeowners away when they couldn't pay the nut. But the bubble burst and the crap game got shut down.
They were able to walk away from this massive nationwide scam by convincing the country that the only irresponsible parties were people who "bought more house than they could afford." It worked, too. But now they've been caught in widespread fraud -- and they want to walk away from that, too. Nobody's suggesting there weren't irresponsible buyers out there, too. But so far, the bankers have been able to convince the country that the "moral hazard" was everybody's but theirs -- even though they were running the entire system, and it's the entire system that's broken down.
This time, the guilty parties should be made to pay for criminal behavior. And they should be forced to accept some of the financial consequences of their bad behavior by writing down some of the principal on the bad loans they've issued and sold.

3. Contract Killers
A loan is a contract, an agreement between two parties. The lender agrees to provide a certain sum of money, which the borrower agrees to repay according to agreed-upon terms and conditions. One of the biggest problems with the foreclosure fraud scandal - and the systems, tricks, and traps that created it - is that it obscures the contractual record between the parties, leaving all the information (and all the power) on one side of the transaction.
Consider the woman whose bank offered to let her skip a monthly payment in return for accidentally changing her locks, and then proceeded to foreclose on her. With shell games like the mortgage industry's MERS, which obscures the actual trail of ownership and insulates the lender from court proceedings, the bank in question doesn't even have to show up during the foreclosure process. That means that she's denied the right to face her trading partner in court. Due process is trampled upon, and so is the right to legally enforce a contract.
People facing foreclosure aren't just people who lost their jobs or "bought too much house." They're people who had a deal with their bank. Then they were hit with late fees, or unilateral changes to their loan terms, or other surprises that caused them to fall into a spiral of debt. Of those who have missed payments, many of them have a legitimate case to make: that the other party broke the contract and that's why they've missed payments. The foreclosure fraud scandal has taken away their right to defend themselves in court.
4. Getting Medieval On Your Assets
The last counterargument is literally an ancient one. It's based on the long-established right of any citizen to be inviolable in their home and possessions. This goes back to the Magna Carta, which established that the will of the monarch wasn't arbitrary and that the property of "freemen" could not be seized without proper legal recourse. This principle was enshrined in the Fifth Amendment of the Constitution, which says "No person shall be deprived of life, liberty or property without due process of law." (emphasis mine)
It's bad enough that we've seen massive violations of the Constitution and people are saying it's no big deal. But we're also seeing massive violations of a legal principle that was established as an inalienable human right ... in 1215 AD! And people are still saying it's no big deal. This isn't a "technical" problem or a "paperwork" issue. It reflects on our national character, and our will to preserve the rights and liberties that have existed for eight centuries.
The problem isn't that some people bought "more house than they can afford." The problem is that we have more rights as free citizens than the banking industry can afford. So, naturally, they want us to pretend those rights don't exist. If we do, we'll lose them. And that will be a really big deal.
_______________________________________________________________
Richard (RJ) Eskow, a consultant and writer (and former insurance/finance executive), is a Senior Fellow with the Campaign for America's Future. This post was produced as part of the Curbing Wall Street project. Richard also blogs at A Night Light.
He can be reached at "rjeskow@ourfuture.org."
Website: Eskow and Associates

Saturday, October 30, 2010

BANK OF AMERCIA executive Rebecca Mairone

Is either a very stupid woman or she thinks the rest of us are.  She says Bank of Americia is doing well with Hamp because they have modified the most loans. What she didn't mention is that Bank of America has a pool of Delinquent loans that is much larger than the other servicers.  So in actuality Bank of America has done the worst by far!

It modified 21% of the eligible loans.

The other Big Four banks have done better: Citigroup has granted permanent modifications to 44 percent of potentially eligible borrowers. For Wells Fargo, it's 37 percent, and for JPMorgan Chase, it's 32 percent.

So Rebecca Mairone what do you have to say about that?

State Attorneys Generals to take down big banks.

Wooo Hooooo..look at this people!

The Treasury Department, the and the OCC are doing nothing but condoning what the banks are doing.  Its disgraceful, but finally the Attorney Generals are banning together and taking action.

This is a must read for anyone following this.



http://www.nytimes.com/2010/10/30/business/30nocera.html?pagewanted=2&ref=business&src=me

WHY WE NEED A FORECLOSURE MORATORIUM

http://www.huffingtonpost.com/sen-sheldon-whitehouse/why-we-need-a-foreclosure_b_776172.html

"The system is simply not working logically when it cannot answer the question, "why is the bank throwing me out of my house, to sell it to someone else who'll pay LESS than I'm willing and able to pay right now?"

THE BEST ARTICLE TO DATE, PLEASE READ AND RE POST!

HOMEOWNERS GET THE BOOT FOR BAD PAPERWORK WHILE BANKS GET MILLIONS FOR SAME!


From the article
"The contradiction highlights what many critics of the past two administrations' policies have claimed for some time: they exert overwhelming force when it comes to saving financial institutions, but merely modest assistance when it comes to distressed homeowners."

by Shahien Nasiripour

Actually they are merely "pretending" to assist homeowners and there are huge number of  personal hired to "pretend" to be working..  Those fax numbers are probably to some  paper  recycling factory.

http://www.huffingtonpost.com/2010/10/29/money-first-questions-later_n_776135.html

Friday, October 29, 2010

Sadly this is no joke.

this relates to short sales, which I do too, but its the same process to get a home mod for a borrower as what they do to Realtors.




http://www.youtube.com/watch?v=12PmtP1j7ts&feature=related

Thursday, October 28, 2010

HOW MUCH CAMPAIGN MONEY DID THE BANKS PAY OBAMA TO SAY THIS?

http://www.huffingtonpost.com/2010/10/28/obama-foreclosure-program-_n_775553.html

Obama says that more aggressive efforts would only help the undeserving.  He goes on to say that in June banks started documenting financial information so that people would not mistakenly be put into trials. This is a ridiculous lie because back in Sept. of 09 they fully documented my income and I have read stories or thousands of other borrowers whose income was fully documented prior to being put in a modification.

He has the NERVE to go on to say he has gotten letters thanking him.

How about the hundreds of thousands of letters protesting the abuse?
Sickening.  He is giving the banks carte blanche to steal from and manipulate borrowers.

off the subject

This is a really important aritcle about what is going on with the research and development for new medications to treat obesity.

A really important point is made here; there are 50 different medications on the market to treat High Cholesterol, and only 2 to treat obesity.  Obese people don't fight for funding or research  because they feel they are at fault.

You don't hear diabetics going around saying they feel responsible for their diabetes, when in fact in most type II diabetics are as much responsible for their illness as an obese person is responsible for being overweight.  The stigma has to change, and with a full third of the population in America being obese maybe it will.

Check it out.

http://www.nytimes.com/2010/10/29/health/policy/29drug.html?src=un&feedurl=http%3A%2F%2Fjson8.nytimes.com%2Fpages%2Fbusiness%2Findex.jsonp

Wednesday, October 27, 2010

Pro Publica's article on loan mods today.

The Government’s Incredible Shrinking Mortgage Mod Program


Pro Publica's analysis of the modification program is that it is shrinking.

Banks records of modifying loans has been meager.  So it looks like the Banks are winning, people are giving up and walking away. So Fannie mae and Freddie Mac pay the banks, the banks then sell the house. The tax payers ( the people) pay Fannie Mae and Freddie Mac, and the Banks continue doing business as usual. Execpt one small thing.  They got even more houses then they would have if the government didn't lead the borrowers to their door.


http://www.propublica.org/article/the-governments-incredible-shrinking-mortgage-mod-program

Tuesday, October 26, 2010

THE FILTH AND LIES CAN REALLY MAKE YOU SICK.

"Treasury official told HuffPost on Tuesday that no one who is current on their mortgage payments can become delinquent because of a HAMP modification."

So what ARE the consequences of the BLATANT LIES, that this Treasury official told the Huffpost? 

Treasury's wrong about that," said Diane Thompson, a lawyer with the National Consumer Law Center. "Everybody comes out of the trial modification period owing more than they did when they went in, and everybody comes out with their credit worse."

"even in circumstances where they never missed a payment, they may face back payments, penalties, and even late fees that suddenly become due on their 'modified' mortgages and that they are unable to pay, thus resulting in the very loss of their homes that HAMP is meant to prevent."

Arthur Delancy Huffington Reporter

I personally can testify that this is exactly what happened to me.  I went in current and came out in default.

DC Protest Hamp is a Scam

I still need 10 leaders who can each get 10 people to join them and meet at the White House to share our opinions of the HAMP program.

If you can be a leader, please comment below, and sign up.  We will pick a date when we get the 10 leaders.

A six person protest made the Huffington Post
http://www.huffingtonpost.com/2010/10/26/homeowners-protest-hamp-i_n_773582.html

Monday, October 25, 2010

GOT A CALL FROM A VULTURE TODAY

VULTURE:               hello I am calling about property abc
ME the REALTOR:  oh that is a short sale and the seller is not allowing showings at this time.
VULTURE:              why?
ME:                         he is trying to work it out with the bank.
VULUTURE:          Oh that's too bad.
ME:                         Well maybe I could find you something else, what area are you looking for?
VULTURE:              It doesn't matter as long as its a foreclosure.
ME:                          I understand you are looking for a good deal, I know of several estate sales that are   very well priced and there are a lot of good deals out there that aren't foreclosures.

VULTURE:  No I only want foreclosures.  And isn't that freeze preventing the foreclosures. 

ME:   Listen you block head, what if you could get a great deal on a house that wasn't covered in BLOOD... WOULD YOU WANT IT OR ARE YOU JUST A FREAKIN VAMPIRE?
VULTURE:   NO THANK YOU I ONLY WANT FORECLOSURES.
ME:  FIGURES.

Saturday, October 23, 2010

IT is amazing how much manure is being shoveled around and how many are buying it.

In the same ridiculous article splashed acroses MSN Business News saying the US foreclosure mess chills market..
in small print it says

"One real estate investor in California said inventory has dropped 75 percent in the past two weeks, prompting a jump in prices" 

How about that?  So these last 2 weeks that the foreclosures have been kept off the market there has been a jump in prices, and how is this BAD?  OH right it is bad for the investors.  For Christs sake, can any one see reason in this.. so too bad maybe the investor who now owns 40 houses that he is renting out to poor people who lost THEIR HOMES... should not get such a good deal...

AND GOD FORBID HE ACTUALLY GETS OUT OF THE BUSINESS AND HOME OWNERS BECOME THE BUYERS AGAIN? 

CAN SOMEONE PLEASE SEE HOW MESSED UP THIS ALL IS?

Friday, October 22, 2010

FRONT PAGE OF THE HUFF POST, FORECLOSURE ON THE FRAUDSTERS!

FDIC TO PUT BANK OF AMERICA IN RECEIVERSHIP!
They are charging that the fraud is the work of the same people who crashed the financial system.

They are starting with Bank of America, my personal favorite!

"William K. Black, a former regulator and white-collar crime expert who cracked down on massive fraud during the savings and loan scandal of the 1980s, and his fellow economics professor at the University of Missouri-Kansas City, L. Randall Wray, write in the Huffington Post that it's time to "foreclose on the foreclosure fraudsters".

"The lenders, officers, and professional that directed, participated in, and profited from the fraudulent loans and securities should be prevented from causing further damage to the victims of their frauds, through fraudulent foreclosures."

Basically what they are saying is that the loans were fraudulently created, there is no paperwork so they have to commit more fraud to foreclose on the homes.


"This nation's most elite bankers originated and packaged fraudulent nonprime loans that destroyed wealth -- and working class families' savings -- at a prodigious rate never seen before in the history of white-collar crime. They created the worst bubble in financial history, echo epidemics of fraud among elite professionals, loan brokers, and loan servicers, and would (if left to their own devices) have caused the Second Great Depression."
Black and Wray


"If the government does not hold the fraudulent CEOs responsible, who is supposed to stop the epidemic of elite financial fraud? The Obama administration's answer is the fraudulent CEOs themselves. You can't make this stuff up."

Monday, October 18, 2010

DO LOAN MODIFICATIONS REALLY EXIST?

According to a Bank of America employee and an alleged phone recording they do not.  Could this be true?  Even I, as sinister as I am find this hard to believe, but the source says the employees were in trained in group sessions to lie, and to "give hope," to homeowners.

Wow this is getting even weirder than I thought it was.

WHY DOES THIS NOT SURPRISE ME?

The big banks now own companies, or at least phantom companies that are actually that same bank.  These companies buy tax debts from the government.  Then they tack on excess fees, threaten homeowners with foreclosure if they don't pay these taxes and pumped up fees IN FULL IMMEDIATELY. 





http://www.huffingtonpost.com/

Sunday, October 17, 2010

I am sorry to say this but....

This couple is who wanted to buy something that probably shouldn't have been sold, are now in the same boat as the rest of us.

Very important article.  Please post on your facebook pages and lets try to scare people away from buying foreclosures!


http://www.nytimes.com/2010/10/16/your-money/mortgages/16money.html?_r=1

Saturday, October 16, 2010

The moratorium is NOT THE PROBLEM

Here is a good article from the Huff Post that hits on a lot of the bullshit that is being thrown around.


Look at how this idiot contradicted himself:

A national moratorium would be very damaging to exactly the kind of people we're trying to protect," Treasury Secretary Tim Geithner said on Wednesday, "because the consequence of that would be in neighborhoods that have been most affected by the foreclosure crisis, where you see lots of houses on the block empty, unoccupied, what it means is those communities will be living longer with houses unoccupied, with more pressure on their house price with the people still in their houses."

So are the houses unoccupied or are people still in their houses Tim?

How is the person still in his house, maintaining it bad for the neighbor?  HELLO WON'T THE NEIGHBOR BE HARMED MORE BY THE FORECLOSURE WHICH IMMEDIATELY BRINGS DOWN THE VALUE OF HIS HOUSE!

Are these idiots saying that vacant houses are bad for neighborhoods?  That's true, so stop throwing people our of their houses and MODIFIY THEIR LOANS>>>>>>>these people are willing to pay a principal balance that is the same as what they are going to sell if for at auction... why not NOT SELL IT?


"Wall Street agrees: SO ARE THEY SAYING THAT WE SHOULD BELIEVE WALL STREET?"It would be catastrophic to impose a system wide moratorium on all foreclosures and such actions could do damage to the housing market and the economy," the Securities Industry and Financial Markets Association, a Wall Street lobbyshop, said in a statement. "It must be recognized that the mortgage market, investors and the health of the economy are all inter-related. Investors in the housing market--including American workers with pension funds, 401k plans, and mutual funds--would unjustly suffer losses in their savings from these actions."

RIGHT SO DON'T FORECLOSE... MODIFY THE LOANS SO ONLY THE BANKS LOSE MONEY..

OH OH OH, HOW ABOUT A NOVEL IDEA.

USE THE TARP MONEY TO MODIFY THE LOANS.. AND DON'T FORECLOSE!

Dean Baker, co-director of the progressive Center for Economic and Policy Research, said in an email to HuffPost that the threat of a foreclosure moratorium would give homeowners leverage to win mortgage modifications while doing nothing to hurt banks.


"If a bank realizes that it will have to spend a lot of time and money cleaning up its paperwork to go through a foreclosure it may suddenly get more serious about offering a modification that will people to stay in their home," wrote Baker in an email to HuffPost. "Also, even if that doesn't happen, homeowners may be able to stay in their homes (rent and/or mortgagefree) for another 2-3 months while the banks get the paperwork in order. What's the down side for the homeowner?"


As for banks, Baker calls bull on fears that a moratorium could have catastrophic consequences. "The fact that the banks say a moratorium would be catastrophic should be taken as having absolutely zero value. There are few people on the planet with less credibility," Baker wrote. "For the last two years everyone familiar with the housing market has been talking about the 'shadow inventory.' These are the hundreds of thousands of foreclosed homes that banks have deliberately kept off the market. The reason is presumably that they were worried about glutting the market with foreclosed properties, depressing prices even more."

What's damaging homeowners is the failure of Secretary Geithner and others in the administration to hold the servicers accountable for breaking the mortgage system and for violating the law. What's damaging is Treasury's failure to create and mandate a loan modification program that would actually help homeowners stay in their homes and stabilize their communities," wrote Rheingold. "What would be helpful would be the imposition of this necessary timeout so that servicers can use this time to learn how to comply with the law and Treasury can finally figure out a solution to the problem of hundreds of thousands or millions of unnecessary foreclosures."
http://www.huffingtonpost.com/2010/10/14/foreclosure-moratorium-home-prices_n_762800.html

Friday, October 15, 2010

RETIRED LAYWER STARTS FORECLOSURE MORATORIUM

Thomas A. Cox worked for years at Maine National Bank at at a job he describes as unpleasant.  His background of calling in small business loans and using homes as collateral was the basis for his thorough understanding of foreclosure paperwork.  Eventually he gave up law and struggled with his own personal issues, until he decided give his time and expertise FOR FREE to help the people on the other end of the foreclosure experience.

He stumbled across Nicole Bradbury's file, a woman in Denmark, Maine who was losing her $75,000. home after losing her job and her husband falling ill. 

The three words "limited"signing officer" were the words which jumped out to Cox and started  the Foreclosure Moratorium in 50 states!

Cox vowed that he would expose GMAC's process!  I dare say......... expose it he did!


Wednesday, October 13, 2010

Finacial sector the TOP DONER to Republican or Democratic Candidates

Why would politicians allow banking fraud?  It would reveal systematic and criminal fraud... if they allowed it to be investigagted.

This is a good piece check it out!


http://www.youtube.com/watch?v=P76Djeo5-4w

The Vultures are very angry.

The latest counter news.  The vultures are really pissed off.  Apparently there are a large number of people who claim  they are quality human beings. (They did not lose their jobs, they were not self-employed so their earnings did not plummet.) 

These so called "good people"  I will call them vulutres, are really upset about the foreclosure moratorium.  I kid you not, they are saying this out loud, on the news, on youtube, and anywhere else that they can get an audience.  Freezing foreclosures is taking good opportunities away from them.  They deserve to get houses at rock bottom prices, and now they can't.  The people living in these houses can't afford them and THESE PEOPLE SHOULD BE LIVING IN APARTMENTS.  I actually heard someone say that.

Silent scream.

Their more eloquent moron speakers are explaining it this way, let the market crash so it can recover.  This is exactly the opposite of what will initiate a market recovey. 

Force the banks to modify loans, and the market WILL recover.

Let the market crash and it snowballs and more people lose value in their homes.    When you let my house foreclose, guess what happens?  Your house is now worth what my foreclosed house sold for. Its really simple.  Let me give you an example since these people cannot seem to see one move ahead.

We live on the same block.  You were a good upstanding citizen.  You bought your house for 150  you paid it down to 130 (by being careful and not losing your job.) 

I bought my house for 200.    I paid it on time, just like you, until the market crashed, I lost my job, my income dropped, or I tried to sell to buy a smaller house, but since the market dropped I could not sell.  There are any number of reasons this happened to me.  When one person doesn't pay his mortgage you can blame him, when hundreds of thousands of people don't pay their mortgage common sense SHOULD tell you SOMETHING IS GOING ON.   

Both our houses were worth 250.  Now they are both worth 175.  You neighbor, are still ahead....I am behind.  But... let me fall and guess what is going to happen to you?

SOLUTIONS VS. CATASTROPHE

1.  Banks give me a modification, so I can afford to pay my mortgage and stay in my house
end result....

YOUR HOUSE RETAINS ITS VALUE. 

                  OR
2. Foreclose on my house, sell it for 100. 

THE VALUE OF YOUR HOUSE PLUMMETS!

YOUR HOUSE IS ALSO WORTH 100 AND YOU OWE 130.  GUESS WHO'S IN TROUBLE NOW NEIGHBOR.  SO IF YOU HAD A LICK OF COMMON SENSE YOU WOULDN'T BE FIGHTING FOR THE MORATORIUM TO BE LIFTED, YOU WOULD BE FIGHTING FOR THE MODIFICATIONS TO BEGIN..

Its pretty much that simple.  As my brother always says..... MEMORIZE IT!

Tuesday, October 12, 2010

FOX news..

Is there anything more infuriating!

OHIO STATE ATTORNEY RICHARD CORDRAY SUES GMAC

Justice department looking at Criminal prosecution against the banks that defrauded the courts.

 Banks used the courts by falsifying affidavits on a mass scale. Th

http://www.youtube.com/watch?v=QaGCKWst0eA

Halt all foreclosure that was using "robo signers."

Saturday, October 9, 2010

its infuriating

They are trying to convince the public that the moratorium is bad for the taxpayers.

It simply IS NOT TRUE.

They are blaming the homeowners AGAIN.  SHE IS ACTUALLY SAYING THAT THESE FORECLOSURES ARE VALID.

If the banks do modifications everyone wins.  If they don't everyone loses its that simply.  "Letting the foreclosures happen"  will further devalue the market for homeowners who are not presently in trouble,  so they too will have to foreclose, the decline will become so horrendous that a full depression may be the end result.

No one is talking about the real issue.  The banks need to cut their losses and give the modifications which  will stop the foreclosures not pick up speed or slow down the speed of the foreclosure.......

the modifications if done, will save the market.  Nothing short of that will.

But I just don't think it is going to happen.


http://www.msnbc.msn.com/id/39582924/ns/business-real_estate

Will the Moratorium last or is it an election Ploy?

Are we at the beginning of the end for the banks, or IS THIS JUST another game being played on the US citizens?  Do we vote people into office who say they are going to help, only to be scammed again? 

What choice do we have?  What are they really planning? 

Government to Deploy Broader Mortgage Aid


The Obama administration on Tuesday will launch its most ambitious effort at reducing mortgage balances for homeowners who owe more than their homes are worth.
 underwater loans could be  modified through the program,

(REALLY IF IT COULD BE THEN IT COULD NOT BE  Right?)

 the first initiative to target homeowners who are current on their mortgage payments but are at risk of default because they have no equity in their homes. Some experts are warning, however, that the same knots that tied up prior initiatives could do so again.

REALLY COULD DO SO AGAIN?  YOU MEAN THE BANKS COULD TIE THINGS up, THE LOAN MODS DIDN'T TIE THEMSELVES UP. 

Under the new "short refinance" program, banks and other creditors that write down mortgages to less than the value of the property ( can) essentially hand off the reduced loan to the government.


 The process involves refinancing borrowers into loans backed by the Federal Housing Administration.
While the program puts taxpayers at risk—officials estimate one in five loans in the program could default—

THIS PART IS IMPORTANT.

(THE LOANS THAT RE-DEFAULTED WERE THE ONES GIVEN IN HOUSE MODIFICATIONS THAT WERE NOT MODIFIED ENOUGH TO HELP THE HOMEOWNER)  LETS CALL IT WHAT IT IS. THE IMPLICATION IS THAT THESE PEOPLE ARE DEADBEATS AND WILL DEFAULT NO MATTER HOW MUCH HELP IS GIVEN THEM, WHEN IT IS the banks that are stealing from the poor.  Like of like the opposite of Robin Hood.  Steal from the poor and give to the rich.
the government has set aside $14 billion previously earmarked for housing aid from the Troubled Asset Relief Program to cover losses.
  WHOSE LOSSES ARE BEING COVERED?  THE BANKS?  THE GOVERNMENT?  HOW ABOUT THE HOMEOWNERS?  ARE THEIR LOSSES BEING CONSIDERED?


"The new program, which was announced in March, is starting as the housing market shows signs of renewed trouble and as the Obama administration's signature Home Affordable Modification Program, or HAMP, falls short of its goals of helping three million homeowners. Half of the 1.3 million borrowers that enrolled in temporary loan modifications have fallen out of HAMP because they didn't qualify.


THIS PART IS INFURIATING TO SAY THE LEAST.  BORROWERS FELL OUT OF LOANS BECAUSE THEY DIDN'T QUALIFY???????

Only one-third has received permanent modifications.

 NOT BECAUSE THEY DIDN'T QUALIFY...............BUT BECAUSE THE BANKS COULD MAKE MORE MONEY FORECLOSING THAN DOING A MODIFICATION they were put into temporary mods to trick then into paying less than their original payment so the bank could then steal their home.


The initiative also comes as mortgage rates fall to their lowest levels in more than 50 years. Average rates on 30-year fixed-rate loans dropped to 4.43% last week, down from 4.55% during the previous week, according to a survey published Wednesday by the Mortgage Bankers Association."

"But not every homeowner who is underwater can participate. The bank or investors that own the loan must be willing to write down its value"  CAN'T PARTICIPATE?   WHAT?  YOU MEAN IS NOT GIVEN A MODIFICATION. PERIOD.  THEY CAN PARTICIPATE BUT ARE NOT OFFERED THE OPTION... FOR GOD'S SAKE CALL IT WHAT IT IS.

Friday, October 8, 2010

Bank of America to Halt Foreclosure in all 50 states.

Attorney Generals in several states have put moratoriums on foreclosures in many states, but Bank of America is the first bank to put a HALT on Foreclosures in ALL 50 States...

Politicians are pushing for federal investigations!

Thursday, October 7, 2010

BREAKING NEWS


Obama won't sign the two page bill passed by lawmakers which would allow legislation to loosen standards on foreclosure documents.

 I am probably being overly optimistic, but I feel like underneath the surface the truth is erupting.


http://www.huffingtonpost.com/2010/10/07/obama-pocket-veto-foreclosures_n_753987.html

Wednesday, October 6, 2010

Congressional Democrats Request Big Bank Investigation

October 4, 2010

Excerpts from the Congressional letter to Attorney General Holder, Chairman Bernanke and Acting Comptroller Walsh.


The problems are no longer personal.

Systemic Problems exist with the way the banks are dealing with homeowners.

The excuses we have heard from the banks are simply not credible.
_________________________________________________

http://www.foreclosureindustry.com/2010/10/ohio-ag-files-suit-against-gmac/

JUST FILED TODAY!

OCTOBER 6, 2010

Ohio State Attorney General Richard Cordray
v.
GMAC
and
ALLY
http://www.huffingtonpost.com/pat-choate/legalizing-the-bank-forec_b_752426.html

"In the process of quick foreclosures and panic sales, the banks are creating a second national housing crisis by discounting the price of the foreclosed houses, often by 40 percent or more, thereby driving down the value of neighboring houses. Also, many title companies are refusing to issue title insurance, a basic requirement for securing a mortgage by even the best-qualified purchaser, further stifling an already weak sector of the economy."

Pat Choate
Huffington Post

BANKS BREAKING AND ENTERING WITHOUT REPERCUSSIONS.

Bank breaks into home with woman in it, to changes locks, while she is there.  She was not in foreclosure but was working with the bank for a loan modification.



http://mattweidnerlaw.com/blog/2010/10/here-is-the-video-from-msnbc-bank-burglaries-go-unpunished-watch-and-share/

WE MUST TAKE ACTION.

VOTE AGAINST HR 3808.

 email or call the President at 202-456-1111 to ask him not to sign the bill.


H.R. 3808 requires federal and state courts to recognize notarized documents from other states,

"Mortgages are now being used as backing for securities traded all over the world by financial institutions. When a mortgage goes into default, a “chain of title” (list of its owners) must be created. It’s being discovered that many financial institutions have taken shortcuts in creating lawful chains of title that allow them to foreclose and take homes when they would not otherwise have the right under the law. "

Jennifer Brunner
Ohio Secretary of State

Tuesday, October 5, 2010

Richard Zobeck,

Good Article.

http://www.huffingtonpost.com/richard-zombeck/homeowner-activists-and-a_b_749477.html

FONT MATTERS or so they say.

So apparently the font I use is important when I file my lawsuit.  I guess the Judges don't want to have to sift through fruity fonts in pink.  Although that would be my preference.  I guess I will have to follow the rules. 

Word gave me a run for my lack of money, by adding extra paragraphs and pages everywhere.... why I ask you, why are these silly details driving me nuts?  But Hampwarrior took word DOWN, that's right, there is a tiny paragraph symbol mixed in with a lot of other mysterious symbols,  and when you click it you see that there are hidden paragraphs of nothing everywhere.  Why I have no idea... and the page breaks, whose idea were those?  So you click control and enter and viola there are mysterious page breaks all over your work.   BUT NO MORE WILL WORD CONTROL ME..

Not today anyway. 

What better way to spend a day than working on a lawsuit complaint to the company that stole the last year of my life, while watching Lassie?

ONE HOMEOWNER'S PERSPECTIVE SAYS IT ALL....

ANOTHER ONE OF BANK OF AMERICAS VICTIMS SPEAKS TO ALL OF US... EXCEPT THE CEO'S AND BANK PRESIDENTS, POLITICIANS WHO ONLY CARE ABOUT THEIR OWN BOTTOM LINE AND SUCCESS, THEY DON'T CARE THAT THERE ARE FAMILIES AND PEOPLE WHO ARE BEING DESTROYED BY THEIR EVIL GAMES.


"Im hoping that by now that terrified feeling has subsided for you. You need to know how many of us are out here going through our own scenario of this same kind of experience. There are more of us than you can even imagine. You can't tell by looking at us just who we are. We look like your neighbors, teachers, co-workers, your nurse, your bank teller, grocrey checker, your family and friends. I know. And I am not ashamed anymore to tell my story. And it's in the telling that I have been set free and have allowed others to open up about their situation in turn. Also, once I did let go of the secret I had been keeping, it no longer held the same power over me that it did when I had felt shame over it. It began to matter less and less if I got to keep my house or not. I soon felt my destiny was mine to choose... No longer Bank of America's. I know that they can allow me a modification...or not. That is still up to them, but I'm just not sure if I will accept it or not anymore. If they don't offer one, then I just figure it's the way it's meant to be. It would be a fine time to move on. I am not stressed or sick or scared anymore. It isn't my circumstances that have changed, but my attitude has. I so wish for you this same peace as well. "

kimmyg

Monday, October 4, 2010

SHORT SALES ARE SCAMS TOO.

I am a realtor, I should know.  I have two of them supposedly going on right now.  Every time I bring the banks an offer they manange to find a way out of taking it.  So I spent 8 hours today working on mountains of paperwork that they ask a seller to produce for a second lien holder who may get 5% on his loan.  I suppose it is much better to have the full  write off than to get a small payout.

SO STOP PLAYING THESE GAMES with seller's and with Realtors who are trying to earn a living.    Are we selling the house or not?  I had one bank, who turned down a deal for $1250.  WHAT?  This makes no sense.  Then they get another offer FOR 10,000 MORE, but they would have to pay out closing costs. They would still walk away with 10,000 more after the payout but they say no we don't pay closing costs.  WHAT?  Same bank, same house which has been on the market for a year and a half.  At this point anyone intersted is waiting for the Sherriff sale, and isn't that the goal anyway Mr. Bankster?

So if you are thinking of doing a short sale keep in mind that you will have to WORK AND WORK HARD FOR IT... AND IN THE END IT MAY NOT HAPPEN.

Its just another game for gain.

Sunday, October 3, 2010

Friday, October 1, 2010

Bank of America executive signing 7-8 thousand Foreclosure notices a month

Without reading them.  That's just in Massachusetts too! 

You can't blame her there were so many it just made sense to push them through.  Its better for the economy anyway to get rid of the rif raf.  If they are going to die they should do so and decrease the surplus population.


http://www.cbsnews.com/stories/2010/10/01/business/main6919520.shtml

Thursday, September 30, 2010

Wednesday, September 29, 2010

They did this... it never had to be this way.

At the end of the line, and out of options.  Options I had last year, options that I watched slip away as I worked to get a Making Home Affordable modification.  Options that they took from me as they squeezed my last pennies out of me to Dual Track their success and my failure.

Now it is the final curtain, its dark today.  Very dark. 

BUYER BEWARE...... what else is new?

THE FAIR HOME LOAN BUREAU IS NEITHER FREE NOR ADVERTISING HONESTLY.

If you are a desperate and scared homeowner you could fall for this among other amazing scams out there, Making Home Affordable, being the biggest one of them.  But back to the Fair Home Loan Bureau, advertised on the Huffington Post.

The free part is the phone call and referral to an attorney.  OMG I just get more sick every day. 

The not so free part is the monthly payment that runs for the life of your loan if they save it, and I didn't even get so far as to ask what the payment is if they loose.  Probably the same thing but on your dead loan this time.


Here is part of their AD ON THE HUFFINGTON POST.

"A FREE service to American homeowners.

The Fair Home Loan Bureau was established to make home loan modifications easier and more accessible. Homeowners interested in home loan modifications should contact the Fair Home Loan Bureau first to begin the home loan modification process."

President Obama's Plan for Mortgage Modification
The Fair Home Loan Bureau was established after the enactment of the stimulus package to help Americans begin the loan modification process free of charge

http://www.fairhomeloan.org/landing-page/form2?gclid=CKn35J_YrKQCFR5N5Qod22sydw

Charlatans!  Pure unadulterated greed and nasty marketing.

BTW do you have to be an American to get scammed, or can you get scammed if you are a citizen of another country?

Tuesday, September 28, 2010

The HAMP Hope Hotline. Don't fall for it.

So last Monday I called the HAMP Hope HotlineThe HAMP Hope Hotline is another scam the Government  has created to pretend they are monitoring the banks.  Not that some of the very hardworking representatives don't want to help, but obviously it was set up with the same intention as the HAMP program, to keep the desperate confused homeowners busy....and well...... confused.  Bank of America even named a department in their organization the Hamp Hope department.  So when you say you called the HAMP Hope Hotline, they say which one, the one in our company or the other one?  Are they freakin kidding?  Is this situation for real?

So anyway, the "real"  HAMP Hope Hotline, calls Bank of American with me on a 3-way call.  This is when BOA tried to say they denied me for insufficient paperwork, which I produced in less than 60 seconds.  Of course then they found it.  So I was told my denial was in appeal, and I would hear back from them within 5-7 days.  Really?  Hmmmm, its 8 days later, should I hold my breath?   I am not calling them for some more run around, department transfers and nonsense conversations.

I am one of the people who has gotten off this not so merry-go-round.

Sunday, September 26, 2010

Bank of America Forecloses on Florida man who has NO MORTGAGE,

Jason Grodensky had  never even taken out a mortgage.  Jason and his Dad bought their house cash in December and in July got a foreclosure notice and discovered that the title was transfered to BAC Home Loans Servicing.   Is this getting weird or what?

Bank of America acknowledged the mistake and generously offered to correct it at their expense.

Thursday, September 23, 2010

How are the banks Performing?

Well take a look at this article to see what the big banks are up to.

I personally give Bank of Amercia an F for performance. (Please leave a comment under this post and rate your bank, give the name of the bank and the grade.)

This article shows how many borrowers have been put into modifications per bank, how many are still in modifications after the 3 months, how many modifications have become permanent,and how many have been canceled which is by far the largest group, for Bank of America it is a  whopping 50%.

Now out of the modifications that have been made permanent, these charts don't tell you what kind of a deal the borrower got.  HAMP suggests that the new loan is no more than 31% of the borrowers income, but he banks have simply gotten around this by saying that the borrower does not qualify for a HAMP modification. So of the 25% that BOA modified, some of these loans may still be 50% or greater of the homeowner's gross income.  My fabulous offer which was denied anyway, was  over 50% of my gross income.  So some people may in essense only be saving a few hundred dollars a month,  but the banks can use them as a statistic, and  later when they default, say these people just can't be helped..... they are still defaulting.

YES BOA we are one step ahead of you .

http://bailout.propublica.org/loan_mods/list

Wednesday, September 22, 2010

So now BOA is calling me, I guess I complained to enough outside sources.

But what are they calling to say?  Nothing of any value to me.  They read their scripts, they say they don't know what's going on with my loan.

The bottom line is I am not "satisfied" with their acknowledgments of my complaints.  I want them to MODIFY MY LOAN.  

So Bank of America.  Next time you call and ask me what the problem is, shall I get a mega phone and shout in your ear, MODIFY MY LOAN.... ITS BEEN OVER A YEAR!?

That's what I want.  Period.

Oh and don't try to tack any principal onto my balance, I WENT IN CURRENT.

HAMP GUIDELINES ARE WRITTEN TO HARM BORROWERS

American Citizens had the right "assume" that the government had OUR best interest in mind.  A homeowner in a fragile financial situation suffering from the stress of the economic downturn, shouldn't have had to read the guidelines that were written for the servicer with a fine tooth comb, looking for land mines, but instead should have been able to rely on the guidelines written for the homeowner.

To say that we the people were BETRAYED, is the understatement of the century.  We were sacrificed is more like it. 

WE WERE SACRIFICED.

Tuesday, September 21, 2010

What a beautiful day for a daydream.

A dream that the big banks will compensate the little people for everything they took from us these last few years.  I see this happening soon, and I see their demise, and the emergence of little honest banks in each town, with Jimmy Stewart managers who care about their customers because it makes for good businness.  Don't laugh.  I have a right to my pleasant daydreams.

Monday, September 20, 2010

ANOTHER VICTORY Marques v. Wells Fargo

Mr. Marques went pro se, and beat the big boys.

Judge sent him home with a leave to amend, but a clear victory.

Judge basically said if you are an intended 3rd party for a federal contract YOU CAN SUE FOR BREACH OF CONTRACT... WOO HOOO.....

Wells Fargo lawyers tried to get the case transferred to a DC court ( home owner is in CA) judge did not go for it!

Come on for how long to you think you can rob us in BROAD DAYLIGHT... its getting too obvious now.

“On or about April 13, 2009 Defendant entered into the Commitment to Purchase Financial Instrument and Servicer Participation Agreement for the Home Affordable Modification Program under the Emergency Economic Stabilization Act of 2008 with Federal National Mortgage Association (“Fannie Mae”) and agreed to perform certain loan modification and foreclosure prevention services for eligible loans.”

“Plaintiff filed a complaint in San Diego County Superior Court alleging breach of the Agreement on the theory that he is a third-party beneficiary under California Civil Code Section 1559, that his loan was eligible for modification, Defendant refused to offer to modify it under the Agreement, but instead commenced foreclosure proceedings.”

Today was my last day of struggle with BOA for HAMP

An nice gentleman from the HAMP program talked to me at length about BOAs denial of my modification.

We called BOA, who said there was a document missing and that is why they denied me.  I found the email in which I mailed the document in 1 minute.  Gave him the time and date of the email.  He suddenly found it, re-opened my case and put it into appeal.

BUT after talking with HAMP, I realized what I must have known all along.  It is too much of a loss for BOA to give me a modification.  The reason they put me in the trial was to get me to pay as long as possible.  PERIOD.

They are supposed to give me an answer with in 5-7 days.

I am fighting my battle with you from another angle oh dear old BOA.

The Making Home Affordable plan isn't failing, the banks are failing the Making Home Affordable Program. BOA gets an F.

What Obama said was we are going to ALLOW lenders to work with borrowers?  HELLO, how about we are going to INSIST that banks work with borrowers.  Everyone keeps saying that the program doesn't work.  The PROGRAM, JUST LIKE AA, WORKS IF YOU WORK IT.   The banks have gotten away with tremendous crimes.  They need to be held ACCOUNTABLE,  the executives and CEOs need to go to prison.  Appoint new executives and if they don't follow through, send them to prison.  A poor man who robs a 7/11 of $100, will go to prison,  but a CEO who robs hundreds of thousands of unemployed and otherwise destitute people  of the money they need to find suitable housing, wastes months sometimes years of the poor man's time, and emotionally pushes some to suicide (there are many documented cases,) gets a bonus. 

The Executives of Bank of America and the other big banks need to face criminal charges, what they have perpetrated was calculated fraud.

Sunday, September 19, 2010

THIS IS GREAT....BUT IT WAS LAST MARCH.. NO ONE LISTENED...

http://www.youtube.com/watch?v=knhoo9qTXrE&feature=channel

This addresses my situation exactly!

Anyone going through a modification should listen to this just for the validation.

ITS TOTALLY OBVIOUS but NO ONE SEEMS TO SEE IT.

 In an article from the

The Wall Street Journal
By Darrell Issa and Jim Jordan

Titiled WHAT THEY'RE SAYING

http://www.gop.gov/wtas/10/08/25/wsj-cleaning-up-the-mortgage#share

The writers say:

"OBAMAS PROGRAM TO HELP HOMEOWERS HAS  UNFORTUNATELY MADE THINGS WORSE."

Why isn't anyone saying why things got worse?  Its not because of the program!  Its because the BANKS REFUSED TO COMPLY WITH THE PROGRAM. 

Then later in the article he says that loans that were modified are in default again.  Again, WHY?  Because instead of modifying the loans to 31% of the borrowers income as the guidelines suggest, the banks modified the FEW PERMANENT LOANS THEY DID to 63.5% of the borrowers income.

Isn't the answer clearly obvious?  If you are spending 63% of your income on your mortgage you can't afford to eat!

FORCE THE BANKS TO MODIFY THE LOANS TO 31% OF THE BORROWERS INCOME.  The borrowers would stop defaulting, the foreclosure crisis would come to a screeching halt, and the banks would have to spend the Tarp money on these modifications , not the CEO, and top executive bonuses. 

CRISIS OVER.

Sometimes the obvious is staring people right in the face.

Saturday, September 18, 2010

CLASS ACTION SUIT JULY 2010 TEXAS

PLAINTIFFS’ ORIGINAL COMPLAINT
I. PRELIMINARY STATEMENT
1. Plaintiffs are and represent people who purchased their first homes between 1994
and 2006, usually with loan assistance from the Federal Housing Administration and the U.S.
Department of Veterans Affairs. Their loans were all serviced by Defendant BAC, which is a
wholly owned subsidiary of Defendant Bank of America, N.A.

This lawsuit complains not of
poor customer service by BAC, but of a systematic home loan servicing scheme that includes
hours of telephone runaround, misleading and inconsistent information, lost correspondence,
verbal abuse, and extensive delay, all of which have documented costs not only in terms of
money, but in health. The facts in this case reveal the harsh reality that underlies the loan
Case 6:10-cv-00051 Document 1 Filed in TXSD on 06/29/10 Page 1 of 51
2
servicer’s press statements about loan modifications and forbearance agreements following
collapse of the U.S. housing market.
 

Friday, September 17, 2010

AFTER a 13 MONTH appilication process my MODIFICATION HAS BEEN DENIED.

So I went to Bank of America one year ago current on my loan.  I asked for a modification, because the government advised me to do so.  I was trying to sell my place last year, but I was told I could modify the loan into a more affordable payment, enabling me to stay in my home.  I took my home off the market ( in retrospect a really bad decision.)

I spent 13 months documenting my life to Bank of America.   I was given the run-around.  I was lied to ( lost paperwork.)  I was cheated ( false late fees and derogatories on my credit.)  I was told in February that I qualified for a Making Home Affordable modification.  I was told if I sent in 3 payments on time my loan would be modified.  I was told to pay a specific trial payment.  I did.  I even paid more on 2 occasions. 

Bank of America used this program to damage my credit and my finances.  Now Bank of America is demanding many thousands of dollars in late fees and penalties OR they say they will take my home.  They are asking me to just turn over the keys and walk away.  ( Deed in Lieu.)  In return they will damage my credit.  I am sorry I must be missing something.  How do I benefit from this?  I put over 60,000. into my house.   I should accept damaged credit as  compensation?

Can someone please explain to me how this is a good deal for me?

Well needless to say, I am choosing to NOT take their fabulous offer. 

Oh then there is the short sale offer. 

I should fill out a crap load more documentation repeatedly for many more months, I should heat the house care for it, mow the lawn, show it to hundreds of vultures who are in the market specifically for a short sale or foreclosure.  In return I will get???? OH yeah, My credit destroyed.  HMMMM second offer refused.


So what are my other options?

1. Pay thousands of dollars to Bank of America for allowing me the privilege of spending a year documenting my life to them.  If I do this I can have a worse deal than before, as they have changed my loan for the worse.  

OR......

MAKING HOME AFFORDABLE MODIFICATION IS THE FAST TRACK TO FORECLOSURE

What? Doesn't a modification or short sale application stop a foreclosure.  Well no, it doesn't.  It may stall the gavel, or it may not even do that. 

As soon as you agree to do a modification, the foreclosure process  begins.  Unless your modification is to make your loan payment higher.  But lets just say for argument sake that you are trying to get your payment reduced.  Well what happens to the differnce between your reduced payment and your original payment?  Very simply the Mortgage companies use this "deficit" to start the FORECLOSURE clock ticking.  This is also when they start to damage your credit, the day you agree to a trial modification, and in my case the day I called about it, they randomly reported me as late when I wasn't (I did get them to correct that but excuse my french, WTF?)

So every month that they stall giving you an answer, they get to keep moving that foreclosure clock closer and closer to the Sheriff's desk. 

If they actually gave you a permanent modification after the 7-18 months in which they tortured you with their game of lost and found documents, at least you could look at the terms and make a rational decision.  They don't do that however.  They tell you some ridiculous thing about needing to "test you" for 3 months. 

HELLO?  WHAT GENIUS CAME UP WITH THIS?

So now after 7,8,9,10 more months in a "3" month trial, your credit is trashed, you "owe" the banks thousands, you can't go back, you can't go forward, because they still keep saying your loan is under review.

Wait it gets better.  They ask for updated bank Statements.  When they see that your bank account is empty they decide it is time to decline your "trial" and demand repayment of the thousands of dollars, plus late fees and penalties.  And you better have a secret stash to pay that off in 30 days, or guess what?

Time to foreclose, because as I said, they have been working on your foreclosure while you foolishly send all your silly trial payments in on time, thinking that this was a real program.

After all the government started it?  Shouldn't we trust the government?

You tell me?

Government Reform and Oversight Committee MARCH 30,2010

Report more trial mods that permanent.
As of April 2010
1.1 million trial mods
fewer than 200,00 permanent

Pipeline for trial mods has to be replenished.

Treasury needs to establish the 2nd lien holder program.

GAO have been making recommendations..
Treasury taken steps but not implimented

1. Establish performance benchmarks.
2. Resolve compliance issues or penanties for services who are not complying.
3. Inconsistancies with how borrowers are being treated.
4.Problems with how complaints are being delt with
5.What kind of appeal process can we impliment that would provide due process for borrowers.


TARP program has helped numerous institutions but not the borrowes.




http://www.youtube.com/watch?v=zsMjitaXSps&feature=related

Government Housing Rescue Total Failure?

This is one of the most infuriating videos you will watch.  BOA staff have absolutely no MORALS, VALUES ETHICS OR SENSE OF RESPOSIBILITY. 

They lie steal and cheat from the borrower who is padding their pockets.   The CEOs and presidents should all be sent to prison.


http://www.youtube.com/watch?v=k0UZa0NYWNI&feature=related

Wednesday, September 15, 2010

Wells Fargo Class Action Suit

http://www.courthousenews.com/2010/04/16/BankBailout.pdf

MY STORY HOW BANK OF AMERICA SCAMMED ME.

I am a borrower who was never delinquent. The US government solicited me into the Making Home Affordable Program, now HAMP. I first applied in August 2009. After months of supplying paperwork I was told I was in a "trial" modification. I was instructed to pay the modified payment "instead of my usual payment." That was February of 2010. I have made 7 "modified" payments. Every month Bank of America reports me as delinquent. Every month Bank of America charges me late fees, penalties and interest.

 

I never missed one payment . BOA has ruined my credit. I was told by a customer service representative that I am almost 3 months behind on payments. (I never missed a payment,) I was also told that it would cost me $7,000 to get OUT of the modification. That was last month, and more fees have accumulated since then. I also was told by a customer service representative that once my account reaches 3 months delinquent, they will send out an Act 91 notice which states that they are beginning foreclosure. This should be happening shortly.  HOW IS THIS LEGAL?

 

Bank of America is using a Government program to target at risk borrowers, lure them into what appears to be a financial solution. This manipulates the borrower into coming up with funds to stay current because of the lure of the promised lower interest rate, and a more affordable mortgage. The banks knew that there were large numbers of borrowers on the verge of falling behind. They just didn’t know exactly who these people were.

 

The Making Home Affordable program allowed them to identify these at risk borrowers!  Huge percentages of borrowers are now being declined and foreclosed on after making timely payments for lengthy periods of time, sometimes as long as 18 months, (the trial payment was supposed to be 3 months.) The banks give shoddy explanations or none at all for declining borrowers who have made these payments in the hopes of achieving this allusive goal. The excuse that the borrower has not complied with paperwork demands is an obvious scam, as most of us have documented proof that we have if only someone will ask for it.

 

 

I was approved for a trial modification on February 27, 2010.  I was and am current on my loan .  All my taxes (which I paid separately , were up to date.)

 

Now 7 plus months later, Bank of America is claiming that I am 3 months delinquent on my mortgage.  I have made each and every payment on time. 

A modified payment that they instructed me to pay (IN WRITING.)
 
I am absolutely trapped now.  I will have to come up with thousands of dollars to get out of the modification, to be back in a mortgage I cannot afford.
 
But if I keep paying this modified payment.  They can foreclose on my home, while I am still paying.

The banks are using the HAMP program to identify at risk borrowers and foreclose on them while continuing to collect payments.

The banks refer to this as DUAL TRACK.