Attorney General Bill McCollum today announced his office has launched three new investigations into allegations of unfair and deceptive actions by Florida law firms handling foreclosure cases. The Attorney General’s Economic Crimes Division is investigating whether improper documentation may have been created and filed with Florida courts to speed up foreclosure processes, potentially without the knowledge or consent of the homeowners involved.
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The simple truth was and is that I was excited about the prospect of making the REST Report available to homeowners. I’d worked for ten months to make it available, and it was ten months with a front row seat to the ongoing tragic scene that has become the foreclosure crisis. (And look… it’s working even better than I thought it would, so what would you do in my position, sit quietly?)
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For over a year I’ve known that the crux of the issue for homeowners trying to get a Loan Modification under the federal government’s HAMP program has been the shrouded mystery of the NPV Analysis. The Net Present Value (NPV) calculation is the KEY component of determining whether or not the homeowner gets a trial, and ultimately, a permanent loan modification under the HAMP program. That mystery is now GONE!!
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This Washington Post headline yesterday is all you need to know about how corrupt the process has become to pass ObamaCare by any means necessary this week: “House may try to pass Senate health-care bill without voting on it.”
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The US housing market will face another retreat while mortgage-backed securities and Treasurys are likely to go through a “material” correction, Meredith Whitney, CEO of Meredith Whitney Advisory Group, told CNBC Tuesday.
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A notorious law firm, United Law Group, based in Irvine, CA was shut down today (March 11, 2010) by the FBI after a raid on their offices by the FBI, Irvine Police and other governmental agencies.
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The radar screen of foreclosure fraud is starting to really light up with bogies… otherwise known as “bogus” mortgage assignments and un-authenticated affidavits. I think the bottom line is that Americans are just plain fed up with the fraud and trickery being perpetrated upon our communities, our country and its citizens by corporate America, as well as the executive and judicial branches of this country. Enough is enough is what I hear every day and I predict a meltdown of the corporate foreclosure machine very soon lest a total revolution breaks out in this country by the “astroturf” tea baggers and the like.
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Fresh off the press of the 2nd District Court of Appeals, today the 2nd DCA issued a stunning shot across the bow of US financial institutions by reversing a trial court’s decision to grant summary judgment in favor of US Bank, NA.
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There is a recent decision out of the Sixth Judicial Circuit in FL (Pinellas County) that I believe warrants focus and analysis for homeowners and their attorneys. In Wachovia Mortgage v. Matacchiero, the Defendant filed a Motion to Dismiss (MTD) the case through her attorney. The basic premise of the MTD was that the Plaintiff lacked [...]
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Well, we all knew it would eventually happen but geez, the poor kids! This guy simply can’t get it together! This time, his poor kids and Michelle were affected by the home teleprompter mishap.
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The bottom line is that most judges in Florida and other states trample on the civil rights of homeowners and deny them due process because of their “personal views” on the issues of foreclosure. I highly encourage homeowners to organize in their communities and march on the steps of their local courthouse and protest what their elected judges are doing and not doing to uphold the law as Judge Schack is doing in this case.
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I have a lot of conversations with people about our economy, foreclosures and such… from clients to friends in business to attorneys. Everyone who’s asked me what I foresee coming I’ve told them that 2010 will be a very tough year and they better prepare now. We aren’t done yet folks… and the policies of the Obama Administration and our collective disaster we call Congress, are going to make things even worse – and very well will extend the recession quite painfully. I have told people to expect another wave of foreclosures. As long as you have no job creation and more job loss happening every day, this cycle won’t stop. It’s as simple as that.
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This ruling could ultimately end up being the demise of ALL foreclosure actions involving securitized loans. One thing is clear in that the federal court identifies the investors as the owners of the loan and is so doing the court also recognizes that the servicer/intermediaries/pretender lender have no authority to do ANYTHING in the way of enforcement, modification, collection through legal means such as a foreclosure action because they simply have no standing (the alleged debt is not owed to anyone other than the investors).
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“Systemic abuse.” “Extraordinary incompetence.” “Reckless.” In a growing body of legal cases, judges and the Justice Department are breaking from legal jargon to starkly chastise mortgage companies.
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I don’t think Barack Obama is a democrat or a liberal… I think the best statist one could compare him to is Mussolini – who was a fascist; and with closer inspection, I think it’s safe to say we have a Fascist in the White House. Read below and then tell me this doesn’t describe Obama almost to a tee…
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