Wall Street didn’t merely siphon off unearned money, wealth and guarantees from homeowners, bank depositors and taxpayers. They screwed up title on what appears to be more than 60 million transactions — so even refi’s might now have rendered the title to be uninsurable or unmarketable.
Big Banks Accused of Short Sale Fraud
No surprise here. [...]
Sometime back in the early Spring and Summer of this year, I had a series of meetings with Arizona officials from the legislative and executive branch right up to the top, an Alabama Class Action firm of some repute, and telephone conversations with the U.S. Attorney, and several other class action attorneys researching “relater” and [...]
Rising losses on commercial real estate loans will continue to hurt U.S. banks in coming months and pose the biggest challenge for many financial institutions and their overseers.
editor’s note: This is part of what we have been talking about. years down the road these bankers are looking to sue borrowers for deficiencies after people recover from the disaster the bankers caused. Also set to explode in a few years are title defects that are incurable resulting from the securitization of loans and incorrect [...]
Protecting Tenants at Foreclosure Act
Public Law
FIL-56-2009
September 28, 2009
Summary:
On May 20, 2009, President Obama signed the Helping Families Save Their Homes Act of 2009, Public Law 111-22. Included in the public law is the Protecting Tenants at Foreclosure Act (Division A, Title VII), which provides protections for tenants, including tenants in housing subsidized by Section 8 [...]
