WEEKEND EDITION, SEPTEMBER 9 – SEPTEMBER 13, 2013

MONDAY, SEPTEMBER 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

Both sides in Richmond eminent domain plan set for showdown at City Council meeting FGG EDITOR'S NOTE: What's at stake here for Wall St and the Mortgage Banking Industry? Why, ripping off the securitization scab and exposing the pus-filled underbelly, where we finally discover, among other things, that a clear chain of property title for most homes we have purchased and most homes that we plan to purchase in the future, doesn't exist-------------------Reeling from legal and financial challenges and mortgage industry-financed campaign attacks, backers of a plan that would make Richmond the first city in the nation to seize underwater mortgages using eminent domain…..

Staten Island Man Stole Freehold Couple’s Mortgage Payments, Prosecutor Says A Staten Island man is accused of stealing three years’ worth of a Freehold couple’s mortgage payments and filing for bankruptcy in the husband’s name to forestall a foreclosure….

Obama Said to Call for Limited U.S. Mortgages Role President Barack Obama will call for Fannie Mae and Freddie Mac (FMCC) to be replaced with a government mortgage reinsurer that would sustain losses only in catastrophic circumstances….

Former President Of Tarp Bank Pleads Guilty To Bank Fraud In entering his plea, Hall admitted that from 2005 and continuing through 2010, he committed bank fraud involving the Tifton Banking Company during his employment as President and CEO of the bank….

Regulators stepping collectors' practices

up

probes

of

debt

More than a year after regulators cracked down on Wall Street's flawed home foreclosure procedures, authorities are stepping up pressure on debt collectors over a flood of lawsuits rife with unsupported allegations against….

Title insurance protects your interest in property [Don't Believe It] Q: On new construction and paying cash (no lender financing), do I need to obtain title insurance on my new home? A: That's the million-dollar (or whatever the….

2013 Mortgage rule implementation This page is part of a broader effort by the Bureau to help you comply with the Dodd-Frank Act mortgage reforms and our rules. In the DoddFrank Act, Congress gave the Bureau the responsibility to adopt specific mortgage rules….

Industry veterans don’t always make bad regulators But just about no one devotes a big chunk of their life to learning the finer points of telecom policy or securities law if they’re not getting paid for it. This creates a problem for regulatory agencies: In order to effectively regulate an industry, you need to understand it. But the people who understand it tend to be paid by it.….

Homeowner/Foreclosure Legal Q&A
Do I have grounds for a lawsuit on a foreclosure? >>>> How does the foreclosure process work? >>>> Would a pending foreclosure appeal show up on a title search? Does it "cloud" the title in any way? >>>> What are consequences of three year rental agreement in Florida in case of short sale or foreclosure? >>>>

Eminent Domain Developments
Richmond Mayor Gayle McLaughlin on city's bold plan to stem foreclosures >>>> To Rescue Local Economies, Cities Seize Underwater Mortgages Through Eminent Domain >>>> Using eminent domain to fix Newark's foreclosure crisis: Opinion >>>> Mortgage investors raise alarm as eminent domain spreads>>>>

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WEEKEND EDITION, SEPTEMBER 9 – SEPTEMBER 13, 2013

TUESDAY, SEPTEMBER 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

Foreclosed Homeowner Wins Her House Back From The Bank Jacqueline Barber, a homeowner in Atlanta, GA, will be able to stay in her home despite the bank auctioning it off in foreclosure. Barber, a retired police detective who is also fighting a form of blood and bone marrow cancer, won a buyback, or the ability to buy her home from the bank at or below the home’s rock bottom market value, with the help of Occupy Our Homes Atlanta (OOHA), Tim Franzen of American Friends Service Committee…..

The Florida Foreclosure Judge’s Bench Book! This is How A Consumer Wins a Foreclosure Summary Judgment With foreclosure trials and foreclosure summary judgments whipping though courts more quickly than ever before, it’s critical that consumers have some idea what rules are in place that our….

Foreclosure Completion

Review

Payments

Near

In its latest foreclosure review payment update, the Office of the Comptroller of the Currency (OCC) announced nearly 3 million people have cashed or deposited foreclosure review checks as of August 1….

HAMP didn’t require homeowners to miss payments For so long, every time a homeowner was told “You need a modification. However, we can’t help you get one because you are current on your payments. You need to get behind payments to show us a hardship so…

Man Sentenced for Leasing Land to Others He Did Not Own Investigation showed that Bradshaw leased hunting land, which he did not own, to three separate victims in the amount of $37,000. Judge Sanders ordered Bradshaw to five years behind bars, with all but five days suspended….

2013 Real Estate Settlement Procedures Act (Regulation X) Specifically, the Regulation X final rule implements Dodd-Frank Act sections addressing servicers’ obligations to correct errors asserted by mortgage loan borrowers; to provide certain information requested by such borrowers….

Mortgage modification could widen: Moody's

forbearance

losses

Nationstar may not be the only servicer facing surprise losses due to erroneous accounting practices. Fitch Ratings recently claimed that confusion over how to account for….

BOA Seeks to Seal Damaging Testimony from Urban Lending A drama is playing out in the state of Massachusetts. Bank of America is pretending to be the lender or the authorized servicer or both. But it outsourced the task of dealing with borrowers seeking modification. The company that was used is Urban Lending Solutions (ULS). A deposition was taken from a knowledgeable source from within ULS….

Homeowner/Foreclosure Legal Q&A
Do I have grounds for a lawsuit on a foreclosure? >>>> How does the foreclosure process work? >>>> Would a pending foreclosure appeal show up on a title search? Does it "cloud" the title in any way? >>>> What are consequences of three year rental agreement in Florida in case of short sale or foreclosure? >>>>

Eminent Domain Developments
Richmond Mayor Gayle McLaughlin on city's bold plan to stem foreclosures >>>> To Rescue Local Economies, Cities Seize Underwater Mortgages Through Eminent Domain >>>> Using eminent domain to fix Newark's foreclosure crisis: Opinion >>>> Mortgage investors raise alarm as eminent domain spreads>>>>

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WEEKEND EDITION, SEPTEMBER 9 – SEPTEMBER 13, 2013

WEDNESDAY, SEPTEMBER 11, 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

Court decisions set up legal foreclosure showdown in Utah A federal appeals court decision could mean a lawsuit based on a key provision of Utah’s foreclosure laws will be sent back to state courts, which are now under the sway of a recent Utah Supreme Court decision that went strongly against the largest foreclosure entity in this state, Bank of America. At issue are rulings by several federal judges in Utah that Texas laws govern foreclosures in this state when they are carried out by ReconTrust Inc., the Texasbased foreclosure arm of Bank of America….

Veteran arrested after refusing to leave home after foreclosure Desert Storm veteran and longtime metro Atlanta resident Mark Harris was arrested on Saturday for refusing to leave his property after being foreclosed upon and evicted….

How to battle eviction: That’s how you fight the bank! “Just telling me I got to up and leave … I just can’t see it,” he said. “I can’t understand it. We got a lot of love in this house. We watch out for each other. I can walk the street over here….

Spaniards Fight to Get Savings Back Today, Mr. López is one of about 300,000 Spaniards who, in the midst of a brutal recession, have seen their life savings virtually wiped out in what critics call a deceptive and possibly fraudulent sales campaign by banks that were threatened by the implosion of Spain’s property market….

Illinois Governor Signs Bill to Extend Act Providing Grace Period The act was first adopted in 2009 and with the extension, the Illinois Homeowner Protection Act will continue on until July 2016. “Keeping families in their homes ensures strong communities throughout Illinois and drives our economy forward,”….

Supreme Court property rights

ruling

bolsters

private

Senators introduce bipartisan bill to replace Fannie, Freddie with new agency The senators are attempting to bridge the contentious divide in Washington over the role of the government in the housing market….

In a decision bolstering private property rights, the Supreme Court ruled that a Florida landowner could sue a local government….

Progress on Housing Finance Reform The legislation includes the essential elements of housing finance reform: a dominant role for private capital; considerable protection for taxpayers against future bailouts; a secondary government backstop to ensure stability; competition and entry by new firms into housing finance so that no future entity is too big to fail….

Homeowner/Foreclosure Legal Q&A
Do I have grounds for a lawsuit on a foreclosure? >>>> How does the foreclosure process work? >>>> Would a pending foreclosure appeal show up on a title search? Does it "cloud" the title in any way? >>>> What are consequences of three year rental agreement in Florida in case of short sale or foreclosure? >>>>

Eminent Domain Developments
Richmond Mayor Gayle McLaughlin on city's bold plan to stem foreclosures >>>> To Rescue Local Economies, Cities Seize Underwater Mortgages Through Eminent Domain >>>> Using eminent domain to fix Newark's foreclosure crisis: Opinion >>>> Mortgage investors raise alarm as eminent domain spreads>>>>

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WEEKEND EDITION, SEPTEMBER 9 – SEPTEMBER 13, 2013

THURSDAY, SEPTEMBER 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

Is This City’s Radical New Plan The Answer To The Housing Crisis? Richmond, CA may become the first city in the U.S. to take over underwater mortgages after city council members approved an unorthodox plan to protect residents from foreclosure early Wednesday morning. The proposal would allow the city to seize properties through the power of eminent domain if lenders reject Richmond’s offers to buy the loans discounted to their current market value….

The SEC is now demanding that companies admit wrongdoing. That’s a big deal. Recently, however, judges and politicians like Democratic Sen. Elizabeth Warren have gotten impatient with that slap-on-the-wrist approach. One judge even refused to accept a settlement with Citigroup because, without an admission of wrongdoing,…

Identity Theft: The Nuclear Option The purpose of this article is to support the prior conclusions expressed in my articles and appearances that in addition to being a Ponzi scheme, a necessary component of the illusion of a securitization plan was identity theft in which the identity of a person or entity is used for fraudulent purposes….

Blackstone Raises $5 Billion Rental Bet With Lending Arm B2R is reaching out to landlords with portfolios of properties seeking to grow in the burgeoning industry for single-family homes to rent, said the people, who asked not to be identified because the discussions are private….

Forcing Modification on a Reluctant Servicer This is not theory — it is about the facts. Why would you take a document handed to you by the bank or attached to a pleading or recording be assumed by the attorney for the homeowner to be true and correct. We know it isn’t. So it is the lawyer’s job to probe through discovery down….

Math-challenged Americans more likely to end up in foreclosure Americans who have trouble dividing 300 by 2 are much more likely to end up in foreclosure than consumers with average math skills, a new study has found….

Employees: Bank rewarded us for foreclosing Bank of America employees said in sworn statements they were told to lie to homeowners about loan modifications and were rewarded for sending homeowners to foreclosure rather than modifying their loans….

When debt collector seeks payment, who has burden of proof? Here's the crux of the problem: Is it the debt collector's responsibility to prove that money is owed, or the consumer's responsibility to prove that it isn't? State and federal officials are increasingly focusing on such issues as debt collectors turn up the heat after the prolonged economic downturn….

Homeowner/Foreclosure Legal Q&A
Do I have grounds for a lawsuit on a foreclosure? >>>> How does the foreclosure process work? >>>> Would a pending foreclosure appeal show up on a title search? Does it "cloud" the title in any way? >>>> What are consequences of three year rental agreement in Florida in case of short sale or foreclosure? >>>>

Eminent Domain Developments
Richmond Mayor Gayle McLaughlin on city's bold plan to stem foreclosures >>>> To Rescue Local Economies, Cities Seize Underwater Mortgages Through Eminent Domain >>>> Using eminent domain to fix Newark's foreclosure crisis: Opinion >>>> Mortgage investors raise alarm as eminent domain spreads>>>>

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WEEKEND EDITION, SEPTEMBER 9 – SEPTEMBER 13, 2013

FRIDAY, SEPTEMBER 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

Judge says foreclosure lawsuit vs. Richmond should not be heard now A U.S. judge on Thursday said a lawsuit to stop the city of Richmond, California's plan to potentially use eminent domain on foreclosed properties should not be heard at this time. At a hearing in a San Francisco federal court, U.S. District Judge Charles Breyer said he had not made up his mind on whether the mortgage industry would ultimately prevail on its lawsuit, just that he should not address that question until the city actually decides to use eminent domain on underwater mortgages….

How We Helped Save California Homeowners from Foreclosure NCLR and our Affiliate Network in California worked hard to stop the practice of dual tracking, where banks moved a homeowner through the foreclosure and loan modification….

A Child’s Perspective Evidence of families in turmoil is commonplace in our profession. We enter the scene only when the economic and emotional smoke has settled, and the protagonists are long gone. With the sheer volume of homes that we service….

Domenic Lombardo And Nancy Anzalone, Appellants We reverse the summary judgment because, based on the record evidence in its present state, there remains a genuine issue of material fact regarding whether appellee complied with the condition precedent contained in the….

CFPB issues proposed mortgage rules

modifications

to

The Ability-to-Repay rule protects consumers from irresponsible mortgage lending by requiring that lenders make a reasonable, good-faith determination that prospective borrowers have the ability to repay their loans….

International buyers scale back purchases of US homes An 11.5 percent drop in average sales price, to $354,193, coupled with fewer sales, resulted in a 17.4 percent drop in total sales dollar volume for international sales, to $68.2 billion, according to NAR’s 2013 Profile of International Home Buying Activity….

Senators launch bill to boost secondary mortgage market Sens. Bob Corker, R-Tenn., and Mark Warner, DVa., are spearheading the bill designed to complete this task. The draft legislation is known as the Housing Finance Reform and Taxpayer Protection Act of 2013….

Wells Fargo Must Face Foreclosure Suit After Loan Accord Wells Fargo & Co. (WFC) must face borrowers’ claims that it violated the Equal Credit Opportunity Act by starting foreclosure proceedings while the customers were making payments under a loan-modification agreement. The U.S. Court of Appeals in San Francisco today reinstated the claims of John and Carol Schlegel, who received default notices after the bank told them to proceed with payments under….

Homeowner/Foreclosure Legal Q&A
Do I have grounds for a lawsuit on a foreclosure? >>>> How does the foreclosure process work? >>>> Would a pending foreclosure appeal show up on a title search? Does it "cloud" the title in any way? >>>> What are consequences of three year rental agreement in Florida in case of short sale or foreclosure? >>>>

Eminent Domain Developments
Richmond Mayor Gayle McLaughlin on city's bold plan to stem foreclosures >>>> To Rescue Local Economies, Cities Seize Underwater Mortgages Through Eminent Domain >>>> Using eminent domain to fix Newark's foreclosure crisis: Opinion >>>> Mortgage investors raise alarm as eminent domain spreads>>>>

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