This is seriously the BEST video about Obama. The 2008 "Obama Girl" says in ALL in 4 minutes.
She says the sentiment all of us feel who had believed the lies of Obama in 2008.
I have been honest, saying it before on this blog. I believed the Lies of Obama in 2008. I believed our Country was going to get back to Freedom and our Constitutional Rights. But for some reason the day of his inauguration in 2009 was the last time I ever listened to him. I somehow knew that day, he was not what he said he was. I became 'aware' right after the election of 2008. I was a complete sheeple before that. Now I know the Truth of everyone in D.C., they are not for the citizens of the U.S., they are for the corporations and elite. Everyone of them are frauds. They would not be where they are and elected unless they were bought and sold by their masters behind the scenes.
This girl is AWESOME! She is able to express how we all feel who were betrayed by the Lies!
Showing posts with label fraud. Show all posts
Showing posts with label fraud. Show all posts
Thursday, April 10, 2014
Thursday, December 12, 2013
Four Bankers in Iceland Sentenced to Jail for the FRAUD they committed. Including the Chairman of the Bank.
If this would happen all over the world, we would be in much better shape!
Iceland's court sentenced four bankers to jail, including the Chairman of Kaupthing Bank.
Obviously Iceland's courts are not as corrupt as the rest of the world's courts. The U.S. has never considered jailing Corzine (MF Global), besides all the other top Wall Street bankers. But the fact that Iceland has jailed bankers, shows all is not lost. It is up to all of us to continue trying to get people to wake up.
Article:
In a landmark ruling, Reykjavík District Court sentenced four former executives of Kaupthing Bank to between 3 and 5 1/2 years in prison for financial crimes dating back to 2008.
Vísir reports that former Kaupthing director Hreiðar Már Sigurðsson received the heaviest sentence: five and a half years, minus time already spent in custody. He was also sentenced to pay 33.4 million ISK in legal fees.
Former Kaupthing chairperson - and former Interpol fugitive - Sigurður Einarsson was sentenced to five years, and a total of 14.3 million ISK in legal fees.
Investor Ólafur Ólafsson was sentenced to three and a half years, and 20.6 million ISK in legal fees.
Former director of the Luxemborg branch of Kaupthing Magnús Guðmundsson was sentenced to three years in prison.
In the court's opinion, the four conspired to conceal the fact that one of the investors in Kaupthing, Mohammad Bin Khalifa Al-Thani, owned his 5.01% stake in the bank thanks to money lent to him by the bank itself.
Investigations into the four go back to the Icelandic bank crash of autumn 2008. In the wake of a report on the contributing causes of the crash from the Special Investigative Commission, the Special Prosecutor’s Office was created. The office targeted many top bank officials from Glitnir and Kaupthing.
Eva Joly, who at one point served as an assistant to the Special Prosecutor, told the Grapevine last year that Iceland should "be proud you invested in these investigations", while cautioning to have patience - investigations were three years along at the time.
The four are expected to appeal the decision to the Supreme Court. All of their prison sentences are non-probationary.
Wednesday, April 24, 2013
Rand Paul is a FRAUD and another Obama! He has committed Treason against his Father and Now U.S. Citizens. I have NO Respect for him at All!
First I believed in Rand Paul when he ran for the Senate in Kentucky. I supported his run and win.
Then during the 2012 Presidential election when he committed Treason and was a traitor against his father by endorsing Romney, I never listened to another word he said until his epic filibuster..
He redeemed himself in my eyes when he accomplished the epic 13 hour filibuster which I actually watched more than half of. I was thrilled he was standing up for all of us and the country. I became a Rand Paul supporter once more.
NOW.... he has committed treason against the U.S. people and he has nullified his epic filibuster by going directly against it.
Rand Paul says at 2:30 point of the video below "If someone is coming out of a liquor store with a gun and $50 dollars I don't care if a drone kills him or a policeman kills him."
WTF???!!!! REALLY???
You - Rand Paul..... Don't Care if a drone is JUDGE JURY AND EXECUTIONER of someone ROBBING a store? So someone should be KILLED for robbing a Store?
How Dare you..... believe drones should KILL people during a crime instead of letting a jury of their peers convict them!!!! Also, who is to say the real robber didn't toss the person out with the gun, no one knows what the real situation is, until evidence is completely provided in a COURT ROOM!
I hope the people of Kentucky Vote You OUT! I will NEVER support you, We can not TRUST you! You are a true politician. Not trustworthy, a player of the game and I have NO respect for you!
It is sad that all politicians in Washington are against the U.S. citizens. There is not one person there who is really for our freedoms and liberty now. We have lost our country due to allowing the politicians to do as they have without people being more involved from decades ago in what they were doing.
They are all owned by corporations and big business. They are all puppets on a string that are controlled by their masters. None of them are there for us, they are there for money and power.
We need REAL people in D.C.! We need to somehow get all those asleep that are willing to vote for the same old tired and controlled D.C. official to see the light. We need everyone of them out and vote someone who is not controlled and won't be bought in!
It is so frustrating that we don't have any real representation in D.C. and people we thought were on the side of the Constitution and Bill of Rights were/are just pandering for votes and selling the people down the river to the slave masters.
Then during the 2012 Presidential election when he committed Treason and was a traitor against his father by endorsing Romney, I never listened to another word he said until his epic filibuster..
He redeemed himself in my eyes when he accomplished the epic 13 hour filibuster which I actually watched more than half of. I was thrilled he was standing up for all of us and the country. I became a Rand Paul supporter once more.
NOW.... he has committed treason against the U.S. people and he has nullified his epic filibuster by going directly against it.
Rand Paul says at 2:30 point of the video below "If someone is coming out of a liquor store with a gun and $50 dollars I don't care if a drone kills him or a policeman kills him."
WTF???!!!! REALLY???
You - Rand Paul..... Don't Care if a drone is JUDGE JURY AND EXECUTIONER of someone ROBBING a store? So someone should be KILLED for robbing a Store?
How Dare you..... believe drones should KILL people during a crime instead of letting a jury of their peers convict them!!!! Also, who is to say the real robber didn't toss the person out with the gun, no one knows what the real situation is, until evidence is completely provided in a COURT ROOM!
You are not a TRUE Constitutionalist and you are a traitor, Rand Paul!!
I hope the people of Kentucky Vote You OUT! I will NEVER support you, We can not TRUST you! You are a true politician. Not trustworthy, a player of the game and I have NO respect for you!
It is sad that all politicians in Washington are against the U.S. citizens. There is not one person there who is really for our freedoms and liberty now. We have lost our country due to allowing the politicians to do as they have without people being more involved from decades ago in what they were doing.
They are all owned by corporations and big business. They are all puppets on a string that are controlled by their masters. None of them are there for us, they are there for money and power.
We need REAL people in D.C.! We need to somehow get all those asleep that are willing to vote for the same old tired and controlled D.C. official to see the light. We need everyone of them out and vote someone who is not controlled and won't be bought in!
It is so frustrating that we don't have any real representation in D.C. and people we thought were on the side of the Constitution and Bill of Rights were/are just pandering for votes and selling the people down the river to the slave masters.
PLEASE KENTUCKY VOTE THE FRAUD, RAND PAUL OUT OF OFFICE!! HE IS THE WORST OF THEM! HE TALKS OUT OF TWO SIDES OF HIS MOUTH! HE IS ANOTHER OBAMA - MAKES FALSE PROMISES TO THE PEOPLE AND LIES TO GET ELECTED AND THEN DOES THE OPPOSITE OF EVERY SINGLE THING HE PROMISED!
Tuesday, March 19, 2013
Goldman Sach's loses Supreme Court battle over their Mortgage Backed Securities Fraud!
Goldman Sach's hit a brick wall yesterday in the U.S. Supreme Court.
They were trying to have a lower court's ruling against their MBS (Mortgage backed Securities) Fraud from 2008. The U.S. Supreme court upheld the fraud claims against G.S from the investors of MBS.
This is awesome that the Supreme Court actually upheld the law against G.S. and Wall Street.
GS sold their mortgage servicing company, Litton Loan 2 years ago to Ocwen as they have tried to get out from under all the lawsuits.
Of course as always what is a Wall Street's argument to courts..... "You can't do this, because it will cost Wall Street Billions of Dollars."
The bank has said that letting the 2nd Circuit decision stand could cost Wall Street tens of billions of dollars.Isn't it amazing that Wall Street always uses the same defense in court. I guess they simply can't give themselves the billions in bonuses and instead have to pay the investors they defrauded.
Wall Street banks are all fraud and they believe they are above the law. It is really refreshing to see them having to be accountable for their fraud.
Now.... bring on JP Morgan and the fraud that they committed by stealing directly from people's accounts at MF Global, besides all the gold and silver directly from clients.
Start holding all of Wall Street accountable for the Fraud they commit every day!
Goldman Sachs Group Inc suffered a defeat on Monday as the U.S. Supreme Court let stand a decision forcing it to defend against claims it misled investors about mortgage securities that lost value during the 2008 financial crisis.
Without comment, the court refused to consider Goldman's appeal of a September 2012 decision by the 2nd U.S. Circuit Court of Appeals in New York. Goldman shares sank more than 2 percent.
Wednesday, November 10, 2010
Greenspan Admitted the Banks Have Committed Fraud at Fed Meeting in Georgia A couple of Days Ago!
Out of Greenspans own mouth, his own words - He admits the Banks have been committing Fraud! Bernanke sits next to him, not saying a word!
Friday, August 20, 2010
California Ruling - MERS no precedent to Foreclose!! Article 62 Million Homeowners may be Off Hook for Mortgage!!!!
A new article on Seeking Alpha website is asking Could 62 Million Be Off the Hook due to MERS mortgage?
Another ruling against MERS in a California court - saying they have no basis for foreclosing on property!
This is exciting, that judges are continuing to rule against MERS and the information is getting out more and more about MERS having no standing against mortgages, due to there not being an "ownership of the mortgage" verified.
Here is previous information about MERS, I had put together and has almost every link, you need to look up information and Why MERS is Fraud!
http://sherriequestioningall.blogspot.com/2010/07/mers-mortgage-electronic-registration.html
THIS IS EXCITING!
From this site: http://www.msfraud.org/
Just in: WILL THIS BE ONE OF THE LAST SHOES TO DROP?
Another ruling against MERS in a California court - saying they have no basis for foreclosing on property!
This is exciting, that judges are continuing to rule against MERS and the information is getting out more and more about MERS having no standing against mortgages, due to there not being an "ownership of the mortgage" verified.
Here is previous information about MERS, I had put together and has almost every link, you need to look up information and Why MERS is Fraud!
http://sherriequestioningall.blogspot.com/2010/07/mers-mortgage-electronic-registration.html
THIS IS EXCITING!
From this site: http://www.msfraud.org/
California is following in the footsteps of Tennessee. Recent Sup. Ct. rulings held that MERS is not the holder in due course (real party in interest) of any property and never was. This can have devastating repercussions for the mortgage industry, not just MERS, because there is no valid chain of title. People who are being foreclosed upon, or have been foreclosed upon, now have an equitable remedy. These people should now be able to win in court and have their mortgage nightmares settled. Some people are able to keep their homes, as banks fear losing far more in class-action suits. Now California is getting in on the action and suing MERS for filing false records in every county in the state since MERS began over 10 years ago. Carrying a possible fine of $5-$10K a pop, this could amount to millions and possibly billions of dollars in penalties against MERS. This is money the counties desperately need. This could mean that anyone with a mortgage may have it immediately settled and the true owner will get the title free and clear due to fraud, which has no statute of limitation. Lawful owners will have recourse to sue for fraudulent foreclosure. Let's see what happens.
Wednesday, July 21, 2010
I am Lovin It! Goldman Sachs Out In Europe And 82% DROP In Revenues Last Quarter! YEAH - I hope it is the Start of the TAKE DOWN of Goldman Sachs!
I LOVE the 2 news articles out about Goldman Sachs!!
First Goldman Sach's Revenue was DOWN by 82% this last quarter!
Net income fell to $613 million, or 78 cents a share, from $3.44 billion, or $4.93, a year earlier, New York-based Goldman Sachs said in a statement today.
Love the Article above... Now today it comes out that Europe is Freezing OUT Goldman Sachs!!
Small portion:
First Goldman Sach's Revenue was DOWN by 82% this last quarter!
Goldman Sachs Group Inc. said second-quarter profit dropped 82 percent, missing analysts’ estimates on a slide in trading revenue five days after settling U.S. regulators’ fraud allegations.
Love the Article above... Now today it comes out that Europe is Freezing OUT Goldman Sachs!!
Small portion:
European governments are turning their backs on Goldman Sachs, the all-conquering investment bank that has suffered a series of blows to its reputation, capped by the biggest ever fine imposed on a Wall Street firm.
According to data from Dealogic, Greece, Spain, France and Italy have all denied the bank a lead role in their recent sovereign bond sales.
Last Thursday, Goldman agreed to pay a $550m fine to settle US regulators' claims that the bank misled investors in a mortgage-backed security. Goldman admitted that its marketing materials were incomplete, because they failed to state that the same third party that helped choose the assets had taken a bet against them.
But governments have also been shocked at the emergence of past transactions between Goldman and Greece and Italy, where products the bank helped to sell aided both in hiding government debt. Greece, which used Goldman in a bond sale this year, is practically at war with the bank. A sharp contrast with the situation months before, when Goldman bankers dined with the prime minister in a private meeting overlooking the Acropolis. The relationship broke down, though, after news leaked earlier this year that Goldman was about to strike a bond sale deal with China's sovereign fund – which never materialised.
I hope this keeps going - Goldman Sachs Really Needs to be Taken DOWN! But the problem is they are the ones Running the U.S. Govt's Finances. All in the administration and the PRIVATE Bank of the Federal Reserve are Previous Goldman Sachs people. So Goldman Sachs will be Protected in Every way possible. So it may be up to the individual investors and other Governments to Hopefully Take them down by refusing to have anything to do with them. Will that day come? I can only Dream!
Friday, December 18, 2009
This Story Gets me SICK! This is A SCAM with what Banks ARE Doing!! Outrageous!
I am literally sick with what information this article has in it! How are they being allowed to do this? How is it the government is Allowing it?
There is fine print in the loan modification application saying the homeowners give up their rights to foreclosure notice if the bank rejects their loan modification, they can foreclose on them without notice, even when people are making their payments on time of the temporary loan modification.
The bank can decide they won't modify the loan and then simply put it up on auction without notice.
The woman in the article, had been making her payments and even made a payment on Nov. 30th for December, but had a knock on the door by the "new owners" who purchased it at auction that morning.
This is one of the MOST DISGUSTING THINGS I have ever read in what banks are doing AFTER GETTING BILLIONS AND TRILLIONS!
ANYONE WHO HAS A TEMPORARY LOAN MODIFICATION NEEDS TO BECOME AWARE OF THIS - IMMEDIATELY - THEIR HOUSE CAN BE TAKEN WITHOUT WARNING!!
Link to Article:
http://www.mcclatchydc.com/227/story/80867.html
WASHINGTON — Ten months after the Obama administration began pressing lenders to do more to prevent foreclosures, many struggling homeowners are holding up their end of the bargain but still find themselves rejected, and some are even having their homes sold out from under them without notice.
These borrowers, rich and poor, completed trial modifications of their distressed mortgage, and made all the payments, only to learn, often indirectly, that they won't get help after all.
How many is hard to tell. Lenders participating in the administration's Home Affordable Modification Program, or HAMP, still don't provide the government with information about who's rejected and why.
To date, more than 759,000 trial loan modifications have been started, but just 31,382 have been converted to permanent new loans. That's averages out to 4 percent, far below the 75 percent conversion rate President Barack Obama has said he seeks.
In the fine print of the form homeowners fill out to apply for Obama's program, which lowers monthly payments for three months while the lender decides whether to provide permanent relief, borrowers must waive important notification rights.
This clause allows banks to reject borrowers without any written notification and move straight to auctioning off their homes without any warning.
That's what happened to Evangelina Flores, the owner of a modest 902 square-foot home in Fontana, Calif. She completed a three-month trial modification, and made the last of the agreed upon monthly payments of $1,134.60 on Nov. 1. Her lawyer said that in late November, Central Mortgage Company told her that it would void her adjustable-rate mortgage, which had risen to a monthly sum above $2,000, and replace it with a fixed-rate mortgage.
"The information they had given us is that she had qualified and that she would be getting her notice of modification in the first week of December," said George Bosch, the legal administrator for the law firm of Edward Lopez and Rick Gaxiola, which is handling Flores' case for free.
Flores, 58, a self-employed child care worker, wired her December payment to Central Mortgage Company on Nov. 30, thinking that her prayers had been answered. A day later, there was a loud, aggressive knock on her door.
Thinking a relative was playing a prank, she opened her front door to find two strangers handing her an eviction notice.
"They arrived real demanding, saying that they were the owners," recalled Flores. "I have high blood pressure, and I felt awful."
Court documents show that her house had been sold that very morning to a recently created company, Shark Investments. The men told Flores she had to be out within three days. The eviction notice had a scribbled signature, and under the signature was the name of attorney John Bouzane.
A representative in his office denied that Bouzane's law firm was involved in Flores' eviction, and said the eviction notice was obtained from Bouzane's Web site, www.fastevictionservice.com.
Why would a lawyer provide for free a document that gives the impression that his law firm is behind an eviction?
"We hope to get the eviction business," said the woman, who didn't identify herself.
Flores bought her home in 2006 for $352,000. Records show that it has a current fair-market value of $99,000. The new owner bought it for $78,000 at an auction Flores didn't even know about.
"I had my dream, but now I feel awful," said Flores, who remains in the house while her lawyers fight her eviction. "I still can't believe it."
How could Flores go so quickly from getting government help to having her home owned by Shark Investment? The answer is in the fine print of standard HAMP documents.
The Aug. 25 cover letter from Central Mortgage Company, the servicer that collects Flores' mortgage payments, offered Flores a trial modification with this comforting language:
"If you do not qualify for a loan modification, we will work with you to explore other options available to help you keep your home or ease your transition into a new home."
CMC is owned by Arkansas regional Arvest Bank, itself controlled by Jim Walton, the youngest son of Wal-Mart founder Sam Walton.
A glance past CMC's hopeful promise finds a different story in the fine print of HAMP document, which contains standardized language drafted by the Obama Treasury Department and is used uniformly by lenders.
The document warns that foreclosure "may be immediately resumed from the point at which it was suspended if this plan terminates, and no new notice of default, notice of intent to accelerate, notice of acceleration, or similar notice will be necessary to continue the foreclosure action, all rights to such notices being hereby waived to the extent permitted by applicable law."
This means that even when a borrower makes all the trial payments, a lender can put the house up for auction if it decides that the homeowner doesn't qualify — assuming that foreclosure proceedings had been started before the trial period — without telling the homeowner.
Until now, lenders haven't even had to notify borrowers in writing that they'd been rejected for permanent modifications.
In January, 11 months after Obama's plan was announced, homeowners will begin receiving written rejection notices, and the Treasury Department finally will begin receiving data on rejection rates and reasons for rejections.
The controversial clause notwithstanding, the handling of Flores' loan raises questions.
"Foreclosure actions may not be initiated or restarted until the borrower has failed the trial period and the borrower has been considered and found ineligible for other available foreclosure prevention options," said Meg Reilly, a Treasury spokeswoman. "Servicers who continue with foreclosure sales are considered non-compliant."
CMC officials declined to comment and hung up when they learned that a reporter was listening in with permission from Flores' legal team. Arvest officials also declined comment.
McClatchy did hear from Freddie Mac, the mortgage finance agency seized by the Bush administration in September 2008. Freddie owns Flores' loan, and spokesman Brad German insisted that Flores was reviewed three times for loan modification.
"In each instance, there was a lack of documentation verifying that she had the income required for a permanent modification," German said.
That response is ironic, said Michael Calhoun, the president of the Center for Responsible Lending, a nonpartisan group in Durham, N.C., that works on behalf of borrowers.
"These lenders gave loans with no documentation and charged them a penalty interest rate for doing so. And now when the people ask for help, they are using extravagant demands for documentation to give them the back of their hand and continue to foreclosure," Calhoun said.
German said that Flores was sent a letter on Nov. 24, which would have arrived several days later, given the Thanksgiving holiday, informing her that she'd been rejected for a permanent modification. Flores and her attorney said she never got a letter, and neither Freddie Mac nor CMC provided proof of that letter.
Exactly one week after the letter supposedly was sent, Flores' home was sold to Shark Investments. That company was formed on Aug. 19, according to records on the California Secretary of State's Web site. Shark Investments, apparently an unsuspecting beneficiary of Flores' woes, has no phone listing. The Riverside, Calif., address on the company's filing as a limited liability company traces to a five-bedroom, four-bath house with a swimming pool.
German didn't comment on whether Flores received sufficient notice under Freddie Mac rules, or how the home could move to sale so quickly.
Flores' legal team, which specializes in foreclosure prevention, thinks that lenders and servicers are gaming Obama's housing effort.
"It seems servicers are giving people false hopes by sending them a plan, and they are using the program as a collection method, getting people to pay them with no intention of modifying the loan," said Bosch. "I believe they are using this as a tool to suck people dry."
Dashed hopes aren't exclusive to the working poor such as Flores.
David Smith owns a beautiful home in San Clemente, Calif., the location of the Richard Nixon Presidential Library. Smith purchased his five bedroom home four years ago for $1.3 million. Today, the real estate Web site Zillow.com estimates the value of Smith's home at $981,000, slightly below the $1 million he still owes on it.
Smith said he went from "making a lot of money to making hardly any" as the national and California economies plunged into deep recession. He's a salesman serving the hard-hit residential and commercial construction sector. On top of his hardship, Smith's mortgage exceeds the limits for the HAMP plan.
In late August, Smith signed and returned paperwork in a prepaid FedEx envelope to Bank of America that said it had received the contract needed to modify the adjustable-rate mortgage he originally took out with the disgraced lender Countrywide Financial, which Bank of America bought last year.
The modification agreement shows that Bank of America agreed to give Smith a 3.375 percent mortgage rate through September 2014, and everything Smith paid between now and through 2019 would count as paying off interest. He'd begin paying principal and interest in October 2019, with the loan maturing in 2037.
The deal favors the lender, but Smith, 55, jumped on it because it kept him in the home.
Armed with what he thought was "a permanent modification," Smith returned a notarized copy of the agreement and made subsequent payments on time.
In return, he got a surprising notice from Bank of America saying that his house would be auctioned off on Dec. 18.
"It looks like they're trying to sell this out from underneath me," Smith said. "My wife cries all the time."
After a Dec. 16 call from McClatchy asking why Bank of America wasn't honoring its own modification, the lender backed off.
"The case has been returned to a workout status and a Home Retention Division associate will be contacting Mr. Smith for further discussions," said Rick Simon, a Bank of America spokesman. "The scheduled foreclosure sale will be postponed for at least 30 days to allow for review of the account in hope of completing a home retention solution for Mr. Smith."
The Center for Responsible Lending says such problems are common.
"Everyone acknowledges that the system is not working well," Calhoun said.
There is fine print in the loan modification application saying the homeowners give up their rights to foreclosure notice if the bank rejects their loan modification, they can foreclose on them without notice, even when people are making their payments on time of the temporary loan modification.
The bank can decide they won't modify the loan and then simply put it up on auction without notice.
The woman in the article, had been making her payments and even made a payment on Nov. 30th for December, but had a knock on the door by the "new owners" who purchased it at auction that morning.
This is one of the MOST DISGUSTING THINGS I have ever read in what banks are doing AFTER GETTING BILLIONS AND TRILLIONS!
ANYONE WHO HAS A TEMPORARY LOAN MODIFICATION NEEDS TO BECOME AWARE OF THIS - IMMEDIATELY - THEIR HOUSE CAN BE TAKEN WITHOUT WARNING!!
Link to Article:
http://www.mcclatchydc.com/227/story/80867.html
WASHINGTON — Ten months after the Obama administration began pressing lenders to do more to prevent foreclosures, many struggling homeowners are holding up their end of the bargain but still find themselves rejected, and some are even having their homes sold out from under them without notice.
These borrowers, rich and poor, completed trial modifications of their distressed mortgage, and made all the payments, only to learn, often indirectly, that they won't get help after all.
How many is hard to tell. Lenders participating in the administration's Home Affordable Modification Program, or HAMP, still don't provide the government with information about who's rejected and why.
To date, more than 759,000 trial loan modifications have been started, but just 31,382 have been converted to permanent new loans. That's averages out to 4 percent, far below the 75 percent conversion rate President Barack Obama has said he seeks.
In the fine print of the form homeowners fill out to apply for Obama's program, which lowers monthly payments for three months while the lender decides whether to provide permanent relief, borrowers must waive important notification rights.
This clause allows banks to reject borrowers without any written notification and move straight to auctioning off their homes without any warning.
That's what happened to Evangelina Flores, the owner of a modest 902 square-foot home in Fontana, Calif. She completed a three-month trial modification, and made the last of the agreed upon monthly payments of $1,134.60 on Nov. 1. Her lawyer said that in late November, Central Mortgage Company told her that it would void her adjustable-rate mortgage, which had risen to a monthly sum above $2,000, and replace it with a fixed-rate mortgage.
"The information they had given us is that she had qualified and that she would be getting her notice of modification in the first week of December," said George Bosch, the legal administrator for the law firm of Edward Lopez and Rick Gaxiola, which is handling Flores' case for free.
Flores, 58, a self-employed child care worker, wired her December payment to Central Mortgage Company on Nov. 30, thinking that her prayers had been answered. A day later, there was a loud, aggressive knock on her door.
Thinking a relative was playing a prank, she opened her front door to find two strangers handing her an eviction notice.
"They arrived real demanding, saying that they were the owners," recalled Flores. "I have high blood pressure, and I felt awful."
Court documents show that her house had been sold that very morning to a recently created company, Shark Investments. The men told Flores she had to be out within three days. The eviction notice had a scribbled signature, and under the signature was the name of attorney John Bouzane.
A representative in his office denied that Bouzane's law firm was involved in Flores' eviction, and said the eviction notice was obtained from Bouzane's Web site, www.fastevictionservice.com.
Why would a lawyer provide for free a document that gives the impression that his law firm is behind an eviction?
"We hope to get the eviction business," said the woman, who didn't identify herself.
Flores bought her home in 2006 for $352,000. Records show that it has a current fair-market value of $99,000. The new owner bought it for $78,000 at an auction Flores didn't even know about.
"I had my dream, but now I feel awful," said Flores, who remains in the house while her lawyers fight her eviction. "I still can't believe it."
How could Flores go so quickly from getting government help to having her home owned by Shark Investment? The answer is in the fine print of standard HAMP documents.
The Aug. 25 cover letter from Central Mortgage Company, the servicer that collects Flores' mortgage payments, offered Flores a trial modification with this comforting language:
"If you do not qualify for a loan modification, we will work with you to explore other options available to help you keep your home or ease your transition into a new home."
CMC is owned by Arkansas regional Arvest Bank, itself controlled by Jim Walton, the youngest son of Wal-Mart founder Sam Walton.
A glance past CMC's hopeful promise finds a different story in the fine print of HAMP document, which contains standardized language drafted by the Obama Treasury Department and is used uniformly by lenders.
The document warns that foreclosure "may be immediately resumed from the point at which it was suspended if this plan terminates, and no new notice of default, notice of intent to accelerate, notice of acceleration, or similar notice will be necessary to continue the foreclosure action, all rights to such notices being hereby waived to the extent permitted by applicable law."
This means that even when a borrower makes all the trial payments, a lender can put the house up for auction if it decides that the homeowner doesn't qualify — assuming that foreclosure proceedings had been started before the trial period — without telling the homeowner.
Until now, lenders haven't even had to notify borrowers in writing that they'd been rejected for permanent modifications.
In January, 11 months after Obama's plan was announced, homeowners will begin receiving written rejection notices, and the Treasury Department finally will begin receiving data on rejection rates and reasons for rejections.
The controversial clause notwithstanding, the handling of Flores' loan raises questions.
"Foreclosure actions may not be initiated or restarted until the borrower has failed the trial period and the borrower has been considered and found ineligible for other available foreclosure prevention options," said Meg Reilly, a Treasury spokeswoman. "Servicers who continue with foreclosure sales are considered non-compliant."
CMC officials declined to comment and hung up when they learned that a reporter was listening in with permission from Flores' legal team. Arvest officials also declined comment.
McClatchy did hear from Freddie Mac, the mortgage finance agency seized by the Bush administration in September 2008. Freddie owns Flores' loan, and spokesman Brad German insisted that Flores was reviewed three times for loan modification.
"In each instance, there was a lack of documentation verifying that she had the income required for a permanent modification," German said.
That response is ironic, said Michael Calhoun, the president of the Center for Responsible Lending, a nonpartisan group in Durham, N.C., that works on behalf of borrowers.
"These lenders gave loans with no documentation and charged them a penalty interest rate for doing so. And now when the people ask for help, they are using extravagant demands for documentation to give them the back of their hand and continue to foreclosure," Calhoun said.
German said that Flores was sent a letter on Nov. 24, which would have arrived several days later, given the Thanksgiving holiday, informing her that she'd been rejected for a permanent modification. Flores and her attorney said she never got a letter, and neither Freddie Mac nor CMC provided proof of that letter.
Exactly one week after the letter supposedly was sent, Flores' home was sold to Shark Investments. That company was formed on Aug. 19, according to records on the California Secretary of State's Web site. Shark Investments, apparently an unsuspecting beneficiary of Flores' woes, has no phone listing. The Riverside, Calif., address on the company's filing as a limited liability company traces to a five-bedroom, four-bath house with a swimming pool.
German didn't comment on whether Flores received sufficient notice under Freddie Mac rules, or how the home could move to sale so quickly.
Flores' legal team, which specializes in foreclosure prevention, thinks that lenders and servicers are gaming Obama's housing effort.
"It seems servicers are giving people false hopes by sending them a plan, and they are using the program as a collection method, getting people to pay them with no intention of modifying the loan," said Bosch. "I believe they are using this as a tool to suck people dry."
Dashed hopes aren't exclusive to the working poor such as Flores.
David Smith owns a beautiful home in San Clemente, Calif., the location of the Richard Nixon Presidential Library. Smith purchased his five bedroom home four years ago for $1.3 million. Today, the real estate Web site Zillow.com estimates the value of Smith's home at $981,000, slightly below the $1 million he still owes on it.
Smith said he went from "making a lot of money to making hardly any" as the national and California economies plunged into deep recession. He's a salesman serving the hard-hit residential and commercial construction sector. On top of his hardship, Smith's mortgage exceeds the limits for the HAMP plan.
In late August, Smith signed and returned paperwork in a prepaid FedEx envelope to Bank of America that said it had received the contract needed to modify the adjustable-rate mortgage he originally took out with the disgraced lender Countrywide Financial, which Bank of America bought last year.
The modification agreement shows that Bank of America agreed to give Smith a 3.375 percent mortgage rate through September 2014, and everything Smith paid between now and through 2019 would count as paying off interest. He'd begin paying principal and interest in October 2019, with the loan maturing in 2037.
The deal favors the lender, but Smith, 55, jumped on it because it kept him in the home.
Armed with what he thought was "a permanent modification," Smith returned a notarized copy of the agreement and made subsequent payments on time.
In return, he got a surprising notice from Bank of America saying that his house would be auctioned off on Dec. 18.
"It looks like they're trying to sell this out from underneath me," Smith said. "My wife cries all the time."
After a Dec. 16 call from McClatchy asking why Bank of America wasn't honoring its own modification, the lender backed off.
"The case has been returned to a workout status and a Home Retention Division associate will be contacting Mr. Smith for further discussions," said Rick Simon, a Bank of America spokesman. "The scheduled foreclosure sale will be postponed for at least 30 days to allow for review of the account in hope of completing a home retention solution for Mr. Smith."
The Center for Responsible Lending says such problems are common.
"Everyone acknowledges that the system is not working well," Calhoun said.
Sunday, October 11, 2009
I need Information on Foreclosures - While trying to Reset Mortgages Also any Information on multiple Mortgage Companies Saying Debt Owed to Them.
Please pass this along.
I need information and varified stories of people getting foreclosed on when they thought their mortgage was being reset. I also very much need information of people getting foreclosed on and afterwards other mortgage companies saying they owe them the mortgage, not the companies who foreclosed on them.
There has been one case I read about someone being foreclosed on but a couple of months later they got a letter saying they owe that full amount to another company, as they were the ones who actually owned the mortgage.
Plus any injustices of banks/mortgages that you know of and out right fraud regarding mortgages, Please contact me.
There is a reason for my needing the information above, which I am not at liberty to say right now.
Please trust me, this is not simply for my information.
you can email me at
sherriequestioningall@yahoo.com
I need information and varified stories of people getting foreclosed on when they thought their mortgage was being reset. I also very much need information of people getting foreclosed on and afterwards other mortgage companies saying they owe them the mortgage, not the companies who foreclosed on them.
There has been one case I read about someone being foreclosed on but a couple of months later they got a letter saying they owe that full amount to another company, as they were the ones who actually owned the mortgage.
Plus any injustices of banks/mortgages that you know of and out right fraud regarding mortgages, Please contact me.
There is a reason for my needing the information above, which I am not at liberty to say right now.
Please trust me, this is not simply for my information.
you can email me at
sherriequestioningall@yahoo.com
Friday, August 7, 2009
California's Fraud and Con Game Against the People - Issuing IOU's, which Banks don't Acknowledge and making People Pay Taxes on Them
California is committing a Huge Con and Fraud Against the People of the State. They are issuing IOU's to people, which banks do not acknowledge nor accept as Real Money. BUT the govt. is making the Businesses and People they issue those (not real money) IOU's to pay Taxes on Money they Never Received!
If any person or business committed Fraud like that - where they give people a worthless piece of paper and then told those people - they then had to give them back a percentage of the worthless paper - they would be turned in and arrested. They would be convicted by the courts of a Con and Fraud Scheme.
How can California actually expect people to pay taxes on money they did not receive?
Those businesses are hurting in the first place, I would bet, due to laying out their own money to do business with the state and yet not get paid.
link to information :
http://www.courthousenews.com/2009/08/04/California_Won_t_Accept_Its_Own_IOUs.htm
SAN FRANCISCO (CN) - Small businesses that received $682 million in IOUs from the state say California expects them to pay taxes on the worthless scraps of paper, but refuses to accept its own IOUs to pay debts or taxes. The vendors' federal class action claims the state is trying to balance its budget on their backs.
Lead plaintiff Nancy Baird filled her contract with California to provide embroidered polo shirts to a youth camp run by the National Guard, but never was paid the $27,000 she was owed. She says California "paid" her with an IOU that two banks refused to accept - yet she had to pay California sales tax on the so-called "sale" of the uniforms.
The class consists mostly of small business owners, many of whom rely on income from government contracts to keep afloat. They say California has used them as "suckers" as it looks for a way to bankroll its operations while avoiding its own financial obligations. "Instead of seeking funds through proper channels, the State has created a nightmare," the class says. "Many of these businesses will not survive if they are required to wait until October 2009 to have these forced IOUs redeemed by the State."
The class claims the state is violating the Fifth and Fourteenth Amendments. It demands that California be ordered to honor its own IOUs, plus interest. They are represented by William Audet.
If any person or business committed Fraud like that - where they give people a worthless piece of paper and then told those people - they then had to give them back a percentage of the worthless paper - they would be turned in and arrested. They would be convicted by the courts of a Con and Fraud Scheme.
How can California actually expect people to pay taxes on money they did not receive?
Those businesses are hurting in the first place, I would bet, due to laying out their own money to do business with the state and yet not get paid.
link to information :
http://www.courthousenews.com/2009/08/04/California_Won_t_Accept_Its_Own_IOUs.htm
SAN FRANCISCO (CN) - Small businesses that received $682 million in IOUs from the state say California expects them to pay taxes on the worthless scraps of paper, but refuses to accept its own IOUs to pay debts or taxes. The vendors' federal class action claims the state is trying to balance its budget on their backs.
Lead plaintiff Nancy Baird filled her contract with California to provide embroidered polo shirts to a youth camp run by the National Guard, but never was paid the $27,000 she was owed. She says California "paid" her with an IOU that two banks refused to accept - yet she had to pay California sales tax on the so-called "sale" of the uniforms.
The class consists mostly of small business owners, many of whom rely on income from government contracts to keep afloat. They say California has used them as "suckers" as it looks for a way to bankroll its operations while avoiding its own financial obligations. "Instead of seeking funds through proper channels, the State has created a nightmare," the class says. "Many of these businesses will not survive if they are required to wait until October 2009 to have these forced IOUs redeemed by the State."
The class claims the state is violating the Fifth and Fourteenth Amendments. It demands that California be ordered to honor its own IOUs, plus interest. They are represented by William Audet.
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