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Tuesday, May 29, 2012

The banks business model is Fraudulent. Eric Holder and Head of DOJ’s Criminal Division Were Partners for a Firm Which Used to Represent the Big Banks, Fannie, Freddie and MERS Obama’s Department of Justice isn’t prosecuting any big fish. Indeed, the Obama administration is prosecuting fewer financial crimes than Ronald Reagan, George W. Bush, George H.W. Bush or Bill Clinton. This is true even though the big banks – such as Bank of America, Citigroup, JP Morgan and Wells Fargo – committed some fraud, but their entire business model is fraudulent. See this, this, this, this and this. The same is true of Fannie, Freddie. And even more so with Mers, where its entire purpose – from day one – was fraudulent. Here, here, here, here and here. So why haven’t the fraudsters running these chop shops been prosecuted by Attorney General Eric Holder, and the head of the DOJ’s criminal division Lanny Breuer? Reuters helps explain why today: U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department’s criminal division [watch this to get a sense of Breuer], were partners for years at a Washington law firm that represented a Who’s Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters inquiry shows. The firm, Covington & Burling, is one of Washington’s biggest white shoe law firms. Law professors and other federal ethics experts said that federal conflict of interest rules required Holder and Breuer to recuse themselves from any Justice Department decisions relating to law firm clients they personally had done work for. Both the Justice Department and Covington declined to say if either official had personally worked on matters for the big mortgage industry clients. Justice Department spokeswoman Tracy Schmaler said Holder and Breuer had complied fully with conflict of interest regulations, but she declined to say if they had recused themselves from any matters related to the former clients. Reuters reported in December that under Holder and Breuer, the Justice Department hasn’t brought any criminal cases against big banks or other companies involved in mortgage servicing, even though copious evidence has surfaced of apparent criminal violations in foreclosure cases. The evidence, including records from federal and state courts and local clerks’ offices around the country, shows widespread forgery, perjury, obstruction of justice, and illegal foreclosures on the homes of thousands of active-duty military personnel. *** While Holder and Breuer were partners at Covington, the firm’s clients included the four largest U.S. banks – Bank of America, Citigroup, JP Morgan Chase and Wells Fargo & Co – as well as at least one other bank that is among the 10 largest mortgage servicers. *** Covington represented Freddie Mac …. [and] MERS Corp …. Court records show that Covington, in the late 1990s, provided legal opinion letters needed to create MERS on behalf of Fannie Mae, Freddie Mac, Bank of America, JP Morgan Chase and several other large banks. *** Covington in 2004 also wrote a crucial opinion letter commissioned by MERS, providing legal justification for its electronic registry. MERS spokeswoman Karmela Lejarde declined to comment on Covington legal work done for MERS. This isn’t as bad as Department of Justice lawyer John Yoo’s letter justifying torture by the Bush Administration, but it’s arguably somewhat analogous, as it is a legal opinion trying to justify blatant illegality. No wonder top financial crime expert Bill Black says that we have to fire Eric “Place” Holder  and all other government officials who are blocking prosecution of the criminals who caused the economic crisis. Indeed, it makes one wonder whether the Department of Justice still dispenses justice … or has turned into a “protection racket” for the rich and powerful.Not much better. Of course, most of the rest of boys in DC are

Sunday, May 27, 2012

Memorial Day Weekend, Sunday

Bank of American ordered another BPO. They have consistently made contact with me every holiday since Thanksgiving 2010. This is part of the psychological warfare. Another Realtor, drives up my driveway and refuses to leave, she says she has an Order to take pictures. I keep forgetting to start writing down their license plates and grab my phone to report a trespasser. Next time I will surely remember. Keep in mind these scabs are doing this for 40 bucks a pop. I wonder what it cost her to drive up here in gas.

Monday, May 21, 2012

Another home swindled by big bank

  Melissa and Jason Graham’s story~    My name is Melissa Graham. I have the American dream as many families across our Nation do. I am a married home owner with two children. I am a law biding, tax paying citizen who is an inspiration and positive influence to many other people in my community.    My husband and I have owned our home for over six years. When we first met thirteen years ago we would sit on my mother’s porch and dream together what we would do to the yard if we ever owned it. We made our dream come true and have worked very hard to keep our dream. We fell into financial troubles and had a change in our income. This caused us to reach out to 995-HOPE to attempt reducing our payments. We were struggling with our $2050.00 mortgage every month. We were told by our mortgage company JP Morgan Chase that our modification was going through the federally funded program. I found out after the fact Chase completed an in house modification and repayment plan. Instead of placing the amount past due in the back of the loan they rolled the amount into my monthly payments causing them to increase almost to $2300.00.      When the approval documents came to my home I called Chase and expressed my concern and confusion that our payments went up. I couldn’t understand how this was helpful when we reached out to them struggling with the lower payments. I was informed to sign the documents and make the first payment. This was going to officially place me in the modification program and my loan amount would be reviewed and lowered. I have never had a mortgage before; I trusted what the bank told me. I had the lady input a note into the system that documented I did not agree with the higher amount and I would only send the first $2300.00 payment until my loan was straightened out, and by signing the documents and making the first payment I was agreeing to be in the modification program and my payments would be reduced.    After the first payment I began calling Chase aggressively wanting my loan straightened out. I was given a run around by everyone I talked to. I was receiving calls asking for more documents. I was told by several Chase employees that there were notes from someone who worked at Chase that stated she was working on a “Special Project” and all they knew was she was requesting documents. No one knew anything about a “Special Project”. This was taking months just as the approval for the modification did and I was not making anymore $2300.00 payments as I discussed with the woman who instructed me to sign the paperwork.    In November I received a letter from Chase’s attorney notifying me that my home was going to be sold under Foreclosure. I immediately called my mortgage company in shock only to be informed by 3 separate employees that my home had a sale date of November 10th which was only 4 days away! I begged and pleaded with them for an explanation. What happened to my “Special Project”. I was given nothing but the cold shoulder.    My husband and I filed our last resort. We paid an attorney $1600.00 to file Chapter 13 bankruptcy in order to save our home. The day after our attorney filed someone from JP Morgan Chase called about documents for my modification. You can imagine my confusion at this point. I went through everything with the gentleman on the other line of the phone. I was then transferred to the company’s Bankruptcy Department where I spoke with a manager. He informed me that I never should have signed those documents and made the first payment because that locked me into the agreement. It didn’t matter that it was noted in the account that I did not agree to the terms, I was locked in. I brought up about the “Special Project” and was told there is no such thing because legally my loan can not be modified again for 1 year after it was modified.    I wrote the White House and received a response from the Treasury Department informing me they had escalated my situation to the HAMP program for review. I spoke with someone from HAMP who told me they could not help me because I had a FHA loan. They instructed me to call FHA which told me the same thing; I could not get help until June 1st.    I kept in constant contact with my mortgage company. I called when I heard of the programs our President Obama put in place to help struggling borrowers and was informed I still had to wait until June 1st. I even spoke with someone at Chase last week about how close I was to June 1st and I have been so excited to get my loan back on track and save my home! I was told by the gentleman on the other line that he sees foreclosures everyday and there is no way my home will be sold before June 1st. He said that he would really be surprised if it sold before then. He assured me there are so many people in foreclosure that it takes a very long time to get a sale date.    I found out today 5/16/2012 that a sale date has been set on my home for 5/30/2012. Did you notice the dates? 2 days before I am eligible for help my home is going to be sold on the courthouse step. I cried, pleaded, and begged my mortgage company and their attorney for a realistic option to save my home. The gentleman I spoke with at Chase was rude and very bluntly informed me I could pay off the full amount past due or I could split the amount up in 6 payments on top of paying my $2300.00 every month. If I had the money to pay $6000.00 to my mortgage company I would not be in the financial distress I am currently in. The woman at the lawyers office was just as insensitive and just kept saying over and over there was nothing I can do “OK?” No, this is not OK!    By not being informed and blindly trusting my bank I now have 13 days before my home is auctioned on the courthouse steps unless our government steps in.      So think about this for a moment. JP Morgan Chase will not give me 2 days to be able to save my home that I so desperately want to keep. A company who just lost well over 3 Billion dollars in a bad risky investment that is Federally Insured and will most likely be paid back to them by our government. Our government has bailed this company out to help home owners avoid foreclosure and they will not give my family 2 days to save it. Sign now

May 21, 2012

Lakia King called. I wonder what took so long. She called to say that my file is under review, and they hope to have a resolution shortly. I guess my number is coming up... I asked her about the principal reduction. She said my investor doesn't participate in principal reductions, but she will certainly make a note of it that I am interested in that if they start to do the PRs.

Tuesday, May 15, 2012

Another foreclosure suicide....Wells Fargo style

A couple who wasn't even late on their mortgage payments were tricked, scammed and manipulated into applying for a loan modification. Several years later the husband takes his life in a last desperate attempt to escape the torment, frustration and humiliation the bank has put him through. I say it's manslaughter. What do you think?

Monday, May 14, 2012

Mother's Day Surprise

May 12th, 2012 there was a nice present waiting for me in the mail. A short sale application from Bank of America. I guess that means they have denied the mod application? Who knows. Their tactics worked, it freaked me out and ruined my day. It infuriated me. No, BofA, I am not taking 3000, moving expenses to SELL YOUR HOUSE. No BofA, I am not going through months of an application process to see if I even QUALIFY FOR YOUR LOVELY SHORT SALE. What's the difference? Short sales ruin your credit the same way foreclosures do. The only difference is it cost YOU the owner MORE in BLOOD! THEY BETTER UP THE OFFER IF THEY WANT ME TO GO THAT ROUTE! Dear BofA. I will do it for 20, and yes, that's my final offer! Love Me.

Monday, May 7, 2012


Since Lakia King said sending documents to Bank of America in their Fed/Ex envelopes doesn't work, because they get lost, I faxed the entire package to he fax number. On average these days she is calling about every 7 to 10 days, so I expect her to call within a day or 2 again. I imagine she will either say that the bank statements are no good, or that I still need to produce real pay stubs (even though I am not a paid employee.) Naturally since I cannot produce this, the loan mod will be denied. The tenth time's a the charm? I guess I will just have to wait and see.

Tuesday, May 1, 2012

Lakia King Called again

She didn't receive the package I sent to them VIA THEIR FED/EX PACKAGE. I now have to get that paperwork together again and resend it. May 1, 2012.