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Weekend Edition - August 12, to August 16, 2013 - ForeclosureGate Gazette

Weekend Edition - August 12, to August 16, 2013 - ForeclosureGate Gazette

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Weekend Edition - August 12, to August 16, 2013 - ForeclosureGate Gazette
Weekend Edition - August 12, to August 16, 2013 - ForeclosureGate Gazette

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Published by: ForeclosureGate Gazette on Aug 17, 2013
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WEEKEND EDITION, AUGUST 12 – AUGUST 16, 2013

MONDAY, AUGUST 12, 2013
ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners

Connect The Dots
Thomas A. Glaski V Bank Of America: Borrower May Challenge The Securitized Trust's Claim to Ownership Glaski argued that the investment trust that supposedly held his loan did not have the power to foreclose because his loan had never been properly transferred to the trust…. Mortgage holders sue Richmond over eminent domain plan A suit filed in federal court in Northern California by three mortgage-bond trustees asks for a preliminary injunction against Richmond and Mortgage Resolution Partners….

Theory vs Fact and What to do About It in Court Think about it. When the bond sells or is repurchased, what happens to the loans. The bond “derives” its value from the loans (hence “derivative”). So if you sell the bond you have sold a share of the underlying loans, right? Wrong —

The Landscape of Wall Street's Creative Destruction “Anything I can do,” one woman tells the group after being briefed on its plan to rehab bank-owned homes and move in families without houses. She points across the street to a sagging, boarded-up place adorned with a worn banner -- “Grandma’s House Child Care: Register Now!” ….

As Prices Rise, Banks Repossess More Homes As real estate gains value nationwide, banks are acting more quickly on delinquent loans and repossessing more homes. For years the process has been slow and arduous, with hundreds of thousands of borrowers living….

Banker Admits Investigation

Obstructing

Mortgage

Fraud

According to the plea agreement, on October 9, 2008, Galo, in her capacity as an officer of Key West Bank, received two federal grand jury subpoenas related to an investigation into mortgage fraud and money laundering….

Law provides foreclosures

more

protection

in

Michigan homeowners in foreclosure would have less time to save, sell home under new proposal Michigan homeowners could have more time to avoid foreclosure but less time to reverse it under legislation moving quickly through the state….

The legislation requires banks and servicers to make loan modifications to everyone who's eligible. Also, loan servicers can't sell off a home until there's a clear yes or no on the loan modification.…

Independent Foreclosure Review Payments Exceed $2.4 Billion More than 2.7 million checks, totaling more than $2.4 billion, related to the Independent Foreclosure Review (IFR) Payment Agreement have been cashed or deposited through June 13, 2013. To date, more than 3.9 million checks, totaling more than $3.4 billion, have been sent to eligible borrowers. The first wave of checks was sent April 12. A final wave of checks will be issued during the summer….

Homeowner/Foreclosure Legal Q&A
Is there anything I can do to speed up credit repair after a foreclosure? >>>> How can I use a demurrer to argue lack of "duly perfected title" in UD, (post foreclosure defense) >>>> If I purchase a foreclosure property and their are surplus funds after the sale, how are funds distributed? >>>> What happens to liens after a house goes into foreclosure?>>>>

Independent Foreclosure Review (IFR) Crime Scene – 2nd Look
Bank of America accused of racketeering in lawsuit >>>> The Evil Lies of Crazy Bankers: 6 Former Employees Expose Inhuman Greed of BofA >>>> BofA Should Face Foreclose Probe by TARP, Waters Says>>>> Bank of America whistle-blower’s bombshell: “We were told to lie” >>>>

Page 1 of 5

WEEKEND EDITION, AUGUST 12 – AUGUST 16, 2013

TUESDAY, AUGUST 13, 2013
ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners

A Dream Foreclosed: As Obama Touts Recovery, New Book Reveals Racist Roots of Housing Crisis More than 10 million people across the country have been evicted from their homes in the last six years. Her new book, "A Dream Foreclosed: Black America and the Fight for a Place to Call Home," focuses on four families who have pushed back against foreclosures. "The banks exploited a larger historical trajectory of discrimination in lending and in housing that has existed since the beginning of this country….

House Republican GSE Bill Would Codify MERS, Pre-Empt Private Property Rights The top Republican on the House Financial Services Committee has tucked a provision into his mortgage finance reform bill that would create a privately held “National Mortgage Data Repository.”….

The Chart That Housing Bulls Don't Want You To See It is hard to square the economic circle of homebuilder/REIT-related equities falling (given concerns about the higher-rate environment) with a broad equity market rally

SEC to require admissions of guilt in some settlements The Securities and Exchange Commission will begin requiring admission of guilt in certain types of civil settlements, a major departure from the agency’s routine use of a boilerplate clause that allows defendants to pay fines without….

Worcester digging out of foreclosure mess, but many homes still in the pipeline Plywood sheets cover broken windows, and the remnants of an old leak stain the kitchen ceiling. It's on the market for $74,900, marked down from $139,000, and worn around the edges in a way common to many foreclosed properties….

The housing rebound: Some say this time it's for real After seven roller coaster years, a real recovery in home building and housing values may be here. In the Twin Cities, the data point in the right direction. The supply of homes for sale is at a 10-year low, and the bidding wars are back….

Missing attorney sued for more than $320,000, third lawsuit this month Missing Lake Worth attorney Timothy McCabe and his law firm pocketed $320,170 between 2010 and 2012 from struggling homeowners sucked into a foreclosure prevention scheme, according to a lawsuit filed in federal court Friday….

New Home Construction Booms as Foreclosure Filings Rise A new national survey says homebuilders are feeling optimistic about sales, and in parts of the Inland Empire, like Corona, new home construction is booming. But the construction comes as foreclosure filings took a noticeable jump over the past several weeks, putting Riverside and San Bernardino counties in the top 15 highest foreclosure rates in the state….

Homeowner/Foreclosure Legal Q&A
Is there anything I can do to speed up credit repair after a foreclosure? >>>> How can I use a demurrer to argue lack of "duly perfected title" in UD, (post foreclosure defense) >>>> If I purchase a foreclosure property and their are surplus funds after the sale, how are funds distributed? >>>> What happens to liens after a house goes into foreclosure?>>>>

Independent Foreclosure Review (IFR) Crime Scene - 2nd Look
Bank of America accused of racketeering in lawsuit >>>> The Evil Lies of Crazy Bankers: 6 Former Employees Expose Inhuman Greed of BofA >>>> BofA Should Face Foreclose Probe by TARP, Waters Says>>>> Bank of America whistle-blower’s bombshell: “We were told to lie” >>>>

Page 2 of 5

WEEKEND EDITION, AUGUST 12 – AUGUST 16, 2013

WEDNESDAY, AUGUST 14, 2013
ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners

Worcester Anti-Foreclosure Team Wins Landmark Legal Case Mildred and Gregg Collins will not be evicted from the three-decker they inhabit at 82 Ingelside Avenue on Worcester’s East Side neighborhood–at least, not for now. That’s the good news. The bad news: nobody knows for sure who legally owns the property in which they are being allowed to continue residing….

Grandmother Fights Chase Alone In Wrongful Foreclosure; Gets Modification It’s a story heard many times over. A homeowner seeks to modify a home loan but instead is confronted with unjust delays, lost paperwork, and abusive foreclosure tactics….

President Obama Answers Your Questions About Housing We’ve got to give more hardworking Americans the chance to buy their first home. We have to help more responsible homeowners refinance their mortgages,” President Obama said.

Waters Asks for Investigation into B of A Foreclosure Tactics Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, is asking for an investigation into claims that Bank of America purposefully delayed borrowers from entering the Home Affordable Modification….

State Senate Punishes Homeowners by Holding Homeowner Tax Relief Bill Hostage In a classic case of dirty politics, the Senate Appropriations Committee is holding SB 30, a bill that provides tax relief to homeowners selling their home in a short sale, hostage contingent on SB 391 becoming law….

Flippers once again ride the housing wave In California, the number of homes sold in recent months that had been flipped—or bought and resold within six months—has reached the highest levels since late 2005, according to PropertyRadar, a real-estate data firm….

Man Charged Documents

with

Forging

Real

Estate

After the sale was complete, the defendant allegedly filed fraudulent documents granting the property back to him in an attempt to reclaim the home….

Mortgage Settlement Monitor Reports Eight Fails in Testing Results “Over the past six months my team and I have tested the banks’ compliance,” said Smith. “My testing through the end of last year resulted in three testing fails, and I can disclose five additional fails in 2013. These results demonstrate that the Settlement is allowing us to uncover areas in which more work needs to be done. The banks are now working to correct these errors and will be tested again to determine their level of improvement….

Homeowner/Foreclosure Legal Q&A
Is there anything I can do to speed up credit repair after a foreclosure? >>>> How can I use a demurrer to argue lack of "duly perfected title" in UD, (post foreclosure defense) >>>> If I purchase a foreclosure property and their are surplus funds after the sale, how are funds distributed? >>>> What happens to liens after a house goes into foreclosure?>>>>

Independent Foreclosure Review (IFR) Crime Scene - 2nd Look
Bank of America accused of racketeering in lawsuit >>>> The Evil Lies of Crazy Bankers: 6 Former Employees Expose Inhuman Greed of BofA >>>> BofA Should Face Foreclose Probe by TARP, Waters Says>>>> Bank of America whistle-blower’s bombshell: “We were told to lie” >>>>

Page 3 of 5

WEEKEND EDITION, AUGUST 12 – AUGUST 16, 2013

THURSDAY, AUGUST 15, 2013
ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners

Thousands of Marylanders are losing homes in second wave of foreclosures Maryland is getting a second dose of the housing crisis — a sequel that foreclosure experts and state officials knew was coming but no one wanted to see. Between January and June, Maryland went from having one of the lowest foreclosure rates in the nation to the third highest as banks worked their way through a backlog of delinquent loans, created in part by the state’s long foreclosure process….

Glaski Decision in California Appellate Court Turns the Corner on “Getting It” J.P. Morgan did suffer a crushing defeat in this decision. And the borrower definitely receive the benefits of a judicial decision that will allow the borrower to sue for wrongful foreclosure including equitable and legal relief which in plain language means reversing the foreclosure and getting damages….

Owning a Home Isn’t Always a Virtue Encouraging homeownership has been considered a national goal at least since “Own Your Own Home Day” was introduced in 1920 by various business and civic groups as part of a National Thrift Week. The newly popular word “homeownership” represented a goal and a virtue for every good citizen — to get out of the tenements and into one’s own home ….

Federal housing offices to close in worst foreclosure areas The federal housing department, which handles such things as emergency placements for the evicted and the newly homeless, is slated to shutter its office in the area within the next four…

Sen. Corker builds upon GSE reform Sen. Bob Corker, R-Tenn., is leading a bipartisan group in the hopes of creating legislation that is constructed to reform the housing finance system, particularly winding down both Fannie Mae and Freddie Mac….

Abandoned South Tampa home is fire hazard says Tampa couple "Look at it," Carson said. "It looks like something out of a Stephen King novel. Would you want to live next to that?" The house was abandoned two years ago. The mailbox is rusted, the lawn...

HOA Documents: Are They Worth the Money? When you purchase a property in a common interest development, often referred to as a homeowners association (HOA), the documents that go along with that purchase can cost $400$1,000….

Executive At Debt Collection Agency Pleads Guilty To Bribing Bank Official For Collections Business Between 2007 and 2011, Oxford executives engaged in a multi-year scheme to defraud its lender, Connecticutbased Webster Bank, as well as its investors, clients, and the commercial debtors that Oxford collected from. Oxford’s victims lost more than $12 million as a result of this scheme….

Homeowner/Foreclosure Legal Q&A
Is there anything I can do to speed up credit repair after a foreclosure? >>>> How can I use a demurrer to argue lack of "duly perfected title" in UD, (post foreclosure defense) >>>> If I purchase a foreclosure property and their are surplus funds after the sale, how are funds distributed? >>>> What happens to liens after a house goes into foreclosure?>>>>

Independent Foreclosure Review (IFR) Crime Scene - 2nd Look
Bank of America accused of racketeering in lawsuit >>>> The Evil Lies of Crazy Bankers: 6 Former Employees Expose Inhuman Greed of BofA >>>> BofA Should Face Foreclose Probe by TARP, Waters Says>>>> Bank of America whistle-blower’s bombshell: “We were told to lie” >>>>

Page 4 of 5

WEEKEND EDITION, AUGUST 12 – AUGUST 16, 2013

FRIDAY, AUGUST 16, 2013
ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS The ForeclosureGate Gazette Is A Public Service Aggregate Of Foreclosure-Related News And Information Intended To Educate And Advance Justice For American Homeowners

Foreclosure; Why Homeowners Are Losing the Battle Ignoring the foreclosure papers may be someone's first instict, particularly since the foreclsoure process can introduce feelings of fear, anxiety, and uncertainty. However, ignoring the foreclosure lawsuit can be the single most reason why homeowners lose their foreclosure battle. A delay in responding to the bank's foreclsoure papers can cause a homeowner to relinquish critical protections that may be available….

Cashed Foreclosure Settlement Checks at 2.9M lose to 2.9 million borrowers who received a payout under the foreclosure review settlement have cashed or deposited their check, the Office of the Comptroller (OCC) announced Friday. The cashed payments represent a value of $2.5.…

Bank of America Whistleblowers Allege Rot at the Core of the Mortgage Industrial Complex Revealing behavior reminiscent of the officious conduct of government clerks in Terry Gilliam's Brazil, in litigation against Bank of America, former employees have filed sworn statements that allege the bank routinely gave borrowers….

The Florida Fair Foreclosure Act (House Bill 87) On Friday, June 7, 2013, Governor Rick Scott signed The Florida Fair Foreclosure Act, which made many substantive changes to how foreclosures must be conducted in the state. The primary focus of the Act is….

Realtors Go Knock, Knock, Knocking on Homeowner’s Doors This trend is proving to be especially popular among realtors in Portland and has met with some success, reports the Oregonian. In one example, real estate agent Peggy Hoag of Prudential Northwest Properties relates how she headed….

Make Sure the Bank Takes Your Foreclosed Home What happens to a house when the beleaguered owner moves out, and the lender never finishes It becomes a the foreclosure paperwork? zombie house. A zombie house can be plagued by other problems as well, such as:

Architect of Elaborate Straw Buyer Scheme Sentenced From 2004 to 2009, Canino and FCE engaged in a massive mortgage fraud scheme. As part of the scheme, Canino and his co-conspirators arranged home sales between “straw buyers” – persons who posed as home buyers….

Michigan lawmakers move to protect homes Architects of the foreclosure changes dropped an initial controversial plan to shorten the redemption period to 60 days during which Michiganians with troubled loans could make 11th-hour efforts to save their homes. The redemption period would remain at six months under current proposals to renew state rules that expire at the end of the month, but that doesn’t assuage the strongest critics….

Homeowner/Foreclosure Legal Q&A
Is there anything I can do to speed up credit repair after a foreclosure? >>>> How can I use a demurrer to argue lack of "duly perfected title" in UD, (post foreclosure defense) >>>> If I purchase a foreclosure property and their are surplus funds after the sale, how are funds distributed? >>>> What happens to liens after a house goes into foreclosure?>>>>

Independent Foreclosure Review (IFR) Crime Scene - 2nd Look
Bank of America accused of racketeering in lawsuit >>>> The Evil Lies of Crazy Bankers: 6 Former Employees Expose Inhuman Greed of BofA >>>> BofA Should Face Foreclose Probe by TARP, Waters Says>>>> Bank of America whistle-blower’s bombshell: “We were told to lie” >>>>

Page 5 of 5

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