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Posts Tagged ‘Foreclosure Attorney’

Our Nightmare on Tape

September 2, 2014 Leave a comment

There it is!! WELCOME to our world!! “Bahrani said that while writing the film, he went to foreclosure hearings in Florida (where the movie is set, though it was shot in New Orleans for tax purposes). “With realtors I went on evictions, with wildly rich hedge fund managers and crooks and thieves and hoodlums and swindlers. I remember I would go to foreclosure court with Lynn Szymoniak, who is a fraud attorney, and they tried to foreclose on her home and then she ended up leading a lawsuit against the banks to the tune of $90 million and won. Now she uses the money for charity work. They would call these courts the ‘rocket dockets’ because the cases happen in 60 seconds flat,” he said.

“If you don’t speak English and you are Hispanic, the judge would say, ‘I’m sorry, we don’t have time for that,’” he continued. “After a while, the people started winning, and I turned to Lynn and asked, ‘What is going on?’ and she said, ‘The judge is seeing you with a yellow legal pad taking notes, and he thinks that because you are with me you are a reporter for the New York Times, so as long as you sit here people will win.’ After about an hour, I had to go to the next place to continue doing research, but I couldn’t go because I continued seeing another homeowner coming in, and I knew they would lose if I left. So I ended up being stuck there the whole day, conning the judge into thinking I was going to write a story.” As he points out , he did write a story, and it’s all up there onscreen now.”

http://deadline.com/2014/09/telluride-foreclosure-crisis-drama-99-homes-electrifies-fest-and-sparks-strong-distribution-and-oscar-buzz-827524/

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Homeowners Fighting Back, and when the Judicial System actually lets them show their Evidence…Winning

December 12, 2013 1 comment

A Judge in Florida, whom I have a tremendous amount of respect for, made quite a ruling in November.  For years now homeowners have complained of rising payments on fixed-rate notes that were not explained to them by the banks other than an “escrow shortage” that couldn’t be accounted for.  For years now homeowners have claimed they were told to stop paying, by that very bank, to get a modification to fix the “escrow shortage” problem.   A modification the bank had no intention on giving, and developed internal controls to prevent.  Homeowners who claimed they tried to make the payments they contracted for and had payments sent back, all while the banksters convinced the legislative and judicial branches that those homeowners were just wanting to live “rent free” and not paying anything.  They didn’t bother to hold their returned checks in their hands like some of us have had to. 

When your payment rises over $1,000 a month and there really is no explanation for “mystery fees” or forced place insurance policies that are completely insane price-wise, then it’s time to speak up.  I’ve even seen earthquake insurance being force-placed on a North Florida panhandle resident (the USGS disagrees with that possibility however).  Finally a Judge who seems to understand that BOA deliberately inflated payments with no explanation and that force placed insurance and “mystery” fees are deliberate.  If you are in foreclosure because your payment “mysteriously” grew to where you couldn’t afford it, and then perhaps told to stop paying so a modification that would never happen would “fix” it, maybe it wasn’t a mistake.  Maybe it was a scheme to get those overpriced loans off the books that the banks should have never made in the first place and later realized such.  It’s a different world when a court of law actually allows you to present your evidence isn’t it?  When you, as a homeowner, are actually allowed due process?  Wow.  I can only imagine how much paperwork the bank threw at the homeowner to fight that in court.  Glad to see justice prevailed.  2013-11-21-085932-3

The “In-House” Modification – What the BOA Declarations Point to

June 26, 2013 4 comments

Back in March, I spoke at the House Justice Appropriations Committee regarding Florida House Bill 87 which has since passed and been signed into law.  Here is that video and I start at 51:27 into it. http://thefloridachannel.org/video/3613-house-justice-appropriations-subcommittee/  You will hear Representative Mayfield (Vero Beach) question me afterwards about the fact that the banks told homeowners to “stop payment” in order to show hardship and a need for help in order to get a loan modification.  You will hear her say that it wasn’t a requirement of HAMP that the homeowner stop paying.

The fact is that Bank of America frequently (along with other banks) told homeowners this.  The script of “you have to be so far behind in order for us to help you” was commonplace, and led many, many homeowners into default and into a fraudulent modification scheme as we have now seen from the BOA declarations.

Now keep in mind if the homeowner was not required to “stop payment” in order to qualify for HAMP, but they were required to “stop payment” for the “in-house” modifications that presents an entirely different issue. Some of the declarations from the BOA employees illustrate that homeowners who may have qualified for HAMP were often given “in-house” modifications instead because BOA would profit off the higher interest rate for an “in-house” modification than they would off of the lower HAMP interest rate.

And BOA, on their own site, requires a homeowner to be at least 60 days behind before they can be helped with an “in-house” modification.  http://homeloanhelp.bankofamerica.com/en/bank-of-america-home-loan-modification.html

So at the outset this proves that callers BOA spoke with were not being considered for HAMP or they would not have been asked to “stop payment”.  They were being considered for an “in-house” modification from the start.  And this lines up with their own employee declarations that “in-house” modifications and foreclosures were preferred over HAMP modifications.

But weren’t they required to consider the homeowner for HAMP first?  Is that not why they were given money by the government?

The “stop payment” script points directly to what the employees are saying.  HAMP didn’t require a homeowner to stop payment, but some of their “in-house” programs did.  And if a homeowner was told to “stop payment” then BOA wasn’t considering anyone for HAMP as they alleged.  They were already targeting the homeowner for foreclosure or a higher interest rate alternative.

Fannie and Freddie: Hear no evil, speak no evil, see no evil.

June 30, 2012 Leave a comment

Reportedly, new housing finance has been under a strange shadow.  The typical news is that those self-employed have to show two years of tax returns in order to get financed.  But what those tax returns must show is not.    If a self-employed person makes $30,000 a year, but has a bunch of tax write-offs and reports income of only $15,000 a year, then the bank goes by the income that is reported to the IRS.  That’s right.  Better watch your Schedule K.  It won’t matter what your bank statements say, it’s all what you told the IRS.  The government can control tax write offs based on what you are financed for.  In an age where there are two government bailed out mortgage entities, Fannie Mae and Freddie Mac, that is scary news. Government is getting more involved by the day buying up loans.  Why the secrecy? Fannie is “under a lot of political pressure, and wants to keep everything” quiet, says Paul Miller, managing director of FBR Capital Markets.

What most people working with lenders don’t understand is that when Bank of America tells someone they are being considered for a loan modification and then declines that modification that one of these entities is the reason.  When you ask “why” you were declined, Bank of America won’t hesitate to point to Freddie Mac’s guidelines.  If you ask who owns your note through a legal letter, Bank of America will often tell you it is Freddie Mac or Fannie Mae.  However, when Bank of America sues you for foreclosure, don’t be surprised when they put in the Complaint that they actually own the Note.

One would think the time for secrecy should be over in order to fix the problem. From Robo-signing to break ins, the foreclosure crisis has pretty much run the gamut.   In New York they are trying to make this fraud punishable by criminal penalty.  Why isn’t that happening everywhere?  It has been reported that such entities are drilling through locks and breaking into properties in foreclosure.  Their reasoning?  They can because when you signed your mortgage you agreed to it.  But unless you remember being told at closing that by signing your mortgage you were waiving your Fourth Amendment right to be free from unreasonable searches and seizures, then someone is running against the law.

Our government is claiming that they can mandate healthcare for the general welfare of the public.  At the same time, in courtrooms, congressional hearings, and executive meetings the subject of foreclosure practices is going by the wayside.  Sure they  have offered to have banks rent the homes back to the homeowners.  The same entities that you can’t write off taxes for and get approved if you are self-employed?  The same entities that wrongfully foreclosed because they didn’t have the note and got away with it?  The same entities that broke into homes when there was no final judgment of foreclosure?  I’m sure we would all love to rent from them.

Just know that the private servicers loans are being bought up by government bailed out entities.  And if it isn’t happening through the government here, then it happens overseas.  Recently, one mortgage company sold off to another in the European market that helped make them quite a bundle over there.  Of course that doesn’t benefit us much.

Speech is being silenced if it is against banks by those speaking out, and everything that is being sold is some big secret.  Hear no evil, speak no evil, see no evil, right?  If we want to fund huge programs, then the economy has to be able to.  You cannot run a car without gas or unless you charged it up.  Fixing the real estate crisis is key to doing just that.  The question is how many of our rights do we have to give up to get there.  The Fourth Amendment?  The First?

These are not merely just people who stopped paying a mortgage.  Many of them were told to in order to get a loan modification by the very lender who claims they own the note.  The information that is being put out is pure propaganda, and the secrets being held the truth.  No viable solution has been offered to fix this problem, and everywhere people would rather turn their heads than deal with it.  That is until you start to hear the drill at your own door.

http://www.americanbanker.com/issues/176_243/fannie-mae-secretly-become-mortgage-servicing-giant-1044951-1.html?zkPrintable=true