You are on page 1of 5

WEEKEND EDITION, MAY 6 MAY 10, 2013

MONDAY, MAY 6, 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 Settlement Checks Significantly Smaller Than Regulators Forecasted: Homeowners Adam Crain reckoned he was due $125,000. That amount would come as compensation for losing his Oak Harbor, Wash., home to foreclosure while he was serving aboard a naval vessel in the Middle East. He calculated that sum using a table distributed by federal regulators as part of a $9.2 billion settlement with mortgage companies over a wave of improper foreclosures.

Oregon Judge Rejects 'Split the Note' Theory A three-judge panel of the Oregon Court of Appeals affirmed a lower court ruling rejecting a borrowers use of the split the note theory to argue against a nonjudicial foreclosure,MERSCORP Holdings (MERS) announced. In the case Hunt v. Aurora Loan.

New Ill. foreclosure rules to be broadly applied starting May 1 Before seeking a foreclosure judgment against a borrower who has appeared in court or filed documents in the case, a lender will have to file an affidavit with the court showing the types of loan modification or other programs available.

Peter Schiff Collapse

And

The

Coming

Housing

The Role of Nonprofit Organizations and Public Programs in Promoting Home Rehabilitation and Repair Activity The approximately $300 billion a year private home remodeling and repair market comprises most of the investment for maintaining and improving the nations housing stock.

Peter Schiff, the eternal provocateur, suggests the Feds extraordinary support of bond and housing markets will lead to a market crash as interest rates rise, leaving banks, mortgage originators, and lenders stuck with homes.

Foreclosure Protesters Disrupt Wells CEO's Speech The protestors were affiliated with the Alliance of Californians for Community Empowerment, a group that in the past few months has accused Wells of failing to offer principal reductions to delinquent borrowers, as required under the national mortgage settlement. Riverside County's foreclosure rate edged up

The Federal Reserve announced it has approved the capital plans of 14 financial institutions Strong capital levels help ensure that banking organizations have the ability to lend to households and businesses and to continue to meet their financial obligations, even in times of economic difficulty.

Riverside County's foreclosure rate edged up last month, mirroring a reversal of activity throughout the state, a real estate tracking firm reported today. A total 1,698 mortgage default notices, auction sale notices and bank repossessions were recorded countywide in March, translating to 1 in 468 households in some stage of foreclosure, according to Irvine-based RealtyTrac.

Homeowner, Foreclosure, Mortgage and Legal Q & A:


Homesteaded Property Florida: Can the bank foreclose? >>>> Is an attorney helpful in the foreclosure process? >>>> Bought a second mortgage at auction, how to pay off first? >>> I was just served foreclosure papers, now what? >>>> What about the new bills that passed in California? >>>>

The U.S. Government Accountability Office (GAO) Report On Independent Foreclosure Reviews (IFRs):
What The GAO Found: Independent Foreclosure Reviews (IFR)>>>> GAO Report on Foreclosure Reviews Misses How Regulators Conspired with Banks Against Homeowners>>>> Review of Botched U.S. Foreclosures Beset by Missteps, GAO Says>>>>

Page 1 of 5

WEEKEND EDITION, MAY 6 MAY 10, 2013

TUESDAY, MAY 7, 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

When a House Is Just a House, and Family Means Home The man who delivered the foreclosure papers was all business. He met my wife, Ruth, in the driveway as she was bringing the kids home and gave her the papers. She signed, sighed and told Jolie and Aleeza nothings the matter, lets go inside. Its not as if we were surprised. My parents told me, Be good, work hard and youll have more than we do. For years now, Ive realized it was a lie.

Florida Legislature Shredding Bill of Rights Under Guidance of the Banks Under the guise of facilitating mortgage foreclosure litigation, the Florida state Senate is attempting to destroy the rights, defenses, and counterclaims of homeowners without due process;

Drop in Home Loans Takes Toll on Banks Wall Street knew the craze wouldnt last. The nations biggest banks, capitalizing on government efforts to bolster the housing market, have raked in handsome mortgage profits of late. On Friday, that started to change.

ASF Submits Comment Letter to BCBS re Securitization Framework Revisions On March 14, ASF submitted a detailed comment letter to the Basel Committee on Banking Supervision (BCBS) in response to their December 18, 2012 consultative document entitled, Revisions to the Basel Securitisation Framework.

Report: Housing unaffordable for low-income residents across Md. A worker living in metro Baltimore earning $10 per hour would have to work two full-time jobs to be able to pay the fair market rent for a one-bedroom apartment without expending an unreasonable portion of his or her income on housing.

Banks Still Playing Loan Mod Games One of the top search phrases that still brings people to my blog is some combination of the words mortgage modification and fraud or scam. So there are a whole lot of people out there still being strung along and messed with Foreclosure timelines reach record lengths

Gunman identified in deadly SWAT shootout in Georgia According to property tax records, the home was foreclosed on last November. The mortgage then switched hands from Wells Fargo to Freddie Mac.

Foreclosure timelines are growing more bloated, largely due to sustained government intervention in the housing market, according to RealtyTracs March U.S. Foreclosure Market Report. At the same time, foreclosure activity continues to subside, drifting closer to pre-meltdown levels, RealtyTrac reported.

Homeowner, Foreclosure, Mortgage and Legal Q & A:


Homesteaded Property Florida: Can the bank foreclose? >>>> Is an attorney helpful in the foreclosure process? >>>> Bought a second mortgage at auction, how to pay off first? >>> I was just served foreclosure papers, now what? >>>> What about the new bills that passed in California? >>>>

The U.S. Government Accountability Office (GAO) Report On Independent Foreclosure Reviews (IFRs):
What The GAO Found: Independent Foreclosure Reviews (IFR)>>>> GAO Report on Foreclosure Reviews Misses How Regulators Conspired with Banks Against Homeowners>>>> Review of Botched U.S. Foreclosures Beset by Missteps, GAO Says>>>> GAO Foreclosure Report Finds Bank Regulators Failed To Provide 'Key Oversight'>>>>

Page 2 of 5

WEEKEND EDITION, MAY 6 MAY 10, 2013

WEDNESDAY, MAY 8, 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

Victims Of Foreclosure Fraud Cant Cash Reimbursement Checks Apparently, in order for borrowers to cash the compensation checks they received, their bank must contact Rust Consulting, the company handling the distribution of compensation funds for the U.S. government in order to verify the checks are cashing. However, when these banks followed typical protocol and contacted the bank issuing the

Wall Street Takes Your Homes, Deposits, and Your Social Security

Your

Warren grills bank regulators over bungled foreclosure review "People want to know that their regulators are watching out for the American public -- not for the banks," Warren said. Officials from the Federal Reserve and the Office of the Comptroller of the Currency took most of the heat.

Over the past couple of years, Ive tried to explain how the financial sector created MERS to destroy property records so that it would be easier to steal homes. In the old days, property records were maintained at county recorder offices. The Housing Bubble Is Back When the market is balanced the monthly mortgage payment should be slightly higher than the rental payment because 1) Mortgages get a tax break and 2) Traditional rate mortgages offer you the stability of a fixed payment.

California Foreclosure Filings Up 4.0 Percent in March California foreclosure filings Notices of Default plus Notices of Trustee Sale increased 4.0 percent in March, but were down 59.3 percent in the past twelve months..

U.S. Cracks Down on 'Forced' Insurance A U.S. housing regulator is cracking down on a little-known practice that has hit millions of struggling borrowers with high-price homeowners' insurance policies arranged by banks that benefit from the costly coverage.

Real Estate Entrepreneur Arrested on 50 Count Indictment Webb promised investors that he would use their money to purchase, renovate, and resell properties to first-time home buyers in various states, including North Carolina, Virginia, and Tennessee.

Wells Fargo, foreclosure activists face off at San Francisco city meeting The national foreclosure crisis was encapsulated in a warm, windowless room serving this week as the venue of the San Francisco Employees' Retirement System's board meeting, where Wells Fargo's lending and foreclosure record was the focus of debate. During almost three hours of public comment and board-member discussion.

Homeowner, Foreclosure, Mortgage and Legal Q & A:


Homesteaded Property Florida: Can the bank foreclose? >>>> Is an attorney helpful in the foreclosure process? >>>> Bought a second mortgage at auction, how to pay off first? >>> I was just served foreclosure papers, now what? >>>> What about the new bills that passed in California? >>>>

The U.S. Government Accountability Office (GAO) Report On Independent Foreclosure Reviews (IFRs):
What The GAO Found: Independent Foreclosure Reviews (IFR)>>>> GAO Report on Foreclosure Reviews Misses How Regulators Conspired with Banks Against Homeowners>>>> Review of Botched U.S. Foreclosures Beset by Missteps, GAO Says>>>> GAO Foreclosure Report Finds Bank Regulators Failed To Provide 'Key Oversight'>>>>

Page 3 of 5

WEEKEND EDITION, MAY 6 MAY 10, 2013

THURSDAY, MAY 9, 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

Rulings favor state, homeowners over Fannie Mae, Freddie Mac Ingham County Register of Deeds Curtis Hertel Jr. said the national lending organizations claim they are part of the federal government they are chartered by the government to exempt themselves from paying transfer taxes. But when they purchase a foreclosed house at auction they claim to be private organizations that have a lenders interest in the property, Hertel said.

Foreclosure Review Widespread Errors

Finds

Potentially

Is the party over for mortgage lenders? JPMorgan Chase and Wells Fargo, the nations largest banks, reported Friday a decline in applications for home loans, a sign that the strength of the housing recovery may be waning. The report was the latest worrisome indicator for the economy.

Nearly a third of all foreclosed borrowers who faced proceedings brought by the biggest U.S. mortgage companies during the height of the housing crisis came to the brink of losing their homes due to potential bank errors or under now-banned practices, regulators.

California Foreclosure Indicate Long-term Trend

Uptick

Doesn't

State-Wrecked: The Corruption of Capitalism in America Over the last 13 years, the stock market has twice crashed and touched off a recession: American households lost $5 trillion in the 2000 dot-com bust and more than $7 trillion in the 2007 housing crash.

Foreclosures are declining in most of the Western states tracked by ForeclosureRadar, California, Nevada, Oregon, and Washington but some experienced anomalous upticks over the month of February.

Scam artists targeting housing rentals More and more people are falling victim to online housing rental scams, especially in resort-areas like northern Michigan. They have become more prevalent in the last four or five years, as there have been more foreclosures on the market.

Sen. Johnson to retire, committee seat in play

leaving

banking

Sen. Tim Johnson, D-SD, chairman of the Senate Committee on Banking, Housing & Urban Affairs, announced plans to retire and not run for reelection when his current term expires in 2014.

Goldmans Big Guns Fire Dud in Defense of Megabanks The six very large U.S. bank holding companies -- JPMorgan Chase & Co. (JPM), Bank of America Corp. (BAC), Citigroup (C) Inc., Wells Fargo & Co. (WFC), Goldman Sachs (GS) Group Inc. and Morgan Stanley (MS) -- share a pressing intellectual problem: They need to explain why they should be allowed to continue with their dangerous business model.

Homeowner, Foreclosure, Mortgage and Legal Q & A:


Homesteaded Property Florida: Can the bank foreclose? >>>> Is an attorney helpful in the foreclosure process? >>>> Bought a second mortgage at auction, how to pay off first? >>> I was just served foreclosure papers, now what? >>>> What about the new bills that passed in California? >>>>

The U.S. Government Accountability Office (GAO) Report On Independent Foreclosure Reviews (IFRs):
What The GAO Found: Independent Foreclosure Reviews (IFR)>>>> GAO Report on Foreclosure Reviews Misses How Regulators Conspired with Banks Against Homeowners>>>> Review of Botched U.S. Foreclosures Beset by Missteps, GAO Says>>>>

Page 4 of 5

WEEKEND EDITION, MAY 6 MAY 10, 2013

FRIDAY, MAY 10, 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

Testimony of Richard Cordray at the US Senate Committee on Banking, Housing, and Urban Affairs Born out of the worst financial crisis since the Great Depression, the Consumer Financial Protection Bureau is the nations first federal agency whose sole focus is protecting consumers in the financial marketplace. We are dedicated to improving the lives of everyday Americans and to restoring trust in consumer financial markets.

Oregon Woman Wins 3-Year Fight Against Wells Fargo Foreclosure After her husband, Leland, died in March 2008, Dingman took out a new mortgage with Wachovia while she paid off his medical bills, never missing a payment.

California Foreclosure Starts Up 73% Since January Foreclosure starts in California showed a huge increase since the beginning of this year, but the long-term trend still points to an overall decrease, ForeclosureRadar reported.

Is JPMorgan a farmer? what if there were a sneaky way to maneuver it through a far less scrutinized committee, so most people would have no idea what you were doing? This is the story of how the worlds largest banks came to love the House Agriculture Committee.

California Couple Sentenced To Federal Prison For Defrauding Tarp Banks They lived comfortably off the money, buying property and putting their daughter through college, when many taxpayers who funded the bailout were tightening their belts. Illegally profiting from the TARP bailout is

Investors vs. Occupants in the Housing Recovery One of the big questions about the sustainability of the housing recovery is whether its being driven by owner-occupants the people who live in the houses they buy or speculators.

Bank of America tops list complaints by borrowers

of

mortgage

Bank of America Corp., which handles customer service on about 15% of U.S. home loans, has accounted for 30% of the mortgage complaints logged by the Consumer Financial Protection Bureau, according to a new database.

Behind the foreclosure surge in New York, New Jersey The region was largely spared when home prices disastrously tumbled in 2007. New York and New Jersey, with some of the nation's priciest homes and highest property tax rates, saw nowhere near as many foreclosures during the Great Recession as most of the rest of the country. But that has changed.

Homeowner, Foreclosure, Mortgage and Legal Q & A:


Homesteaded Property Florida: Can the bank foreclose? >>>> Is an attorney helpful in the foreclosure process? >>>> Bought a second mortgage at auction, how to pay off first? >>> I was just served foreclosure papers, now what? >>>> What about the new bills that passed in California? >>>>

The U.S. Government Accountability Office (GAO) Report On Independent Foreclosure Reviews (IFRs):
What The GAO Found: Independent Foreclosure Reviews (IFR)>>>> GAO Report on Foreclosure Reviews Misses How Regulators Conspired with Banks Against Homeowners>>>> Review of Botched U.S. Foreclosures Beset by Missteps, GAO Says>>>> GAO Foreclosure Report Finds Bank Regulators Failed To Provide 'Key Oversight'>>>>

Page 5 of 5