March 29, 2017

REALITY and A NATION OF LAWS

I AM INCREASING IMPRESSED BY THE QUALITY OF WRITING AND THOUGHT OF OUR READERS. HERE’S ONE FROM RUEBEN NIEVES

August 21st, 2010
Dear John Q Public
I am concerned over the massive amounts of foreclosures that have plagued this nation, robbed homeowners of their equity and their homes by the predatory lending practices of the banks. Many of these foreclosures are done through “Trustee sales” which do not allow a hearing and a right to a jury trial.

I am concerned because the entities seeking this remedy are overwhelmingly federally chartered corporations created under acts of Congress for public and national purposes.

Several Supreme Court decisions have ruled that the activities of these type of corporations are governmental not propriety.

I am seeking help from the city of Sacramento based on my research to send a letter to the regulatory authorities—The Office of Thrift Supervision and The Office of the Comptroller of the Currency to issue “Cease and Desist Order” to its members to use only Judicial Foreclosure which does not violate the 5th Amendment.

Most of these lenders are not making meaningful modifications. They would rather foreclose and affect everyone’s equity downward than modify the loans.

If the banks were required to go to court, the homeowner could raise affirmative defenses like unclean hands because most of the loans were inherently predatory because they were not intended to go to term but to be refinanced in a couple of years creating a revenue stream for the banks.

The city would be impacted by revenues tied to the sinking value of the homes through lower property taxes thus forcing severe budget shortfalls. If the regulatory authorities failed to comply with the cities demand, then the city could seek a writ of mandamus coupled with a preliminary injunction prohibiting banks from foreclosing until the legal issue as to their right to foreclose non judicially could be established.
On July 13th, 2010 I spoke before the city council of Sacramento. You can see my video plea on the website of the city of Sacramento. If there is anyone who can help stop these foreclosures with funding, you can contact me at [email protected] I will send you a copy of my research.

Thank you

Reuben Nieves

Filed under: foreclosure

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