Image via WikipediaBank of America announces it will halt all foreclosures and foreclosure sales beginning Saturday, October 9, 2010, in all 50 states This is big. (See story in The Huffington Post)Just the other day they announced that they were halting their actions just in the 23 states where they must go to court in order to complete a foreclosure. These states are referred to as judicial foreclosure states. The other states, referred to as non judicial foreclosure states do not require that the lenders or banks go to court to foreclose. They simply place a notice of sale on the door of the home indicating that the home will be sold at auction on a certain date.
What makes this new action by BofA so significant is that it lets everyone know that even in non judicial states the homeowner has a legal right to defend their foreclosure the same as if it were a judicial foreclosure state. I say again, THIS IS BIG!
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Editor's Note: This article first appeared in GoldmanSachs666.com
WSJ: Due Process No Longer Required In The United States
ReplyDeleteOnce again we have the corporate-owned "mainstream media" trying to obfuscate and deflect.
The issue is not about which paper-pusher signed documents.
The issue is whether the origination and securitization of this paper in the first instance was fraudulent, and whether we now we have a Watergate-style coverup of what a gang of brigands did to steal literal trillions of dollars!
THAT is the question before us today.
Has anyone considered that if we no longer have a rule of law and we no longer have due process that there are 330,000,000 Americans who just became empowered, under the very standards put forward by The Journal's Editorial Board, The Banks and our Government, to issue their own declaratory judgments and carry out their own sentences?
http://market-ticker.org/akcs-www?singlepost=2205704
Bank Disinformation III: Obama Throws Weight Behind Banks, Housing “Market” Over Borrowers
ReplyDeleteI should have expected this, Team Obama is so predictably bank friendly that it was inconceivable that the Administration would ever decide against them on anything other than the occasional sop to maintain plausible deniability. But this morning’s news stories reveal the officialdom isn’t even bothering to keep up appearances.
http://www.nakedcapitalism.com/2010/10/bank-disinformation-iii-obama-throws-weight-behind-banks-housing-market-over-borrowers.html
I thought the president went to law school?...Was it an honorary degree?
ReplyDeleteWhy Foreclosure Fraud Is So Dangerous to Property Rights
The fraud we keep hearing about seems to be occurring in steps 4, 5, 6 and 7. The verifications of the specific data is not taking place by bank executives. Reviewing a file can take anywhere from, 20 minutes to over an hour. Yet some bank employees are testifying that they have signed off on as many as 150 per day (Wells Fargo) or 400 per day (Chase). It is impossible to perform that many verifications in a day, and the result is the worng house, the wrong persons and the wrong note holders are being foreclosed. (THIS IS CRIMINAL FRAUD AND SHOULD BE PROSECUTED).
The next step is the Notary, whose signature allows these fraudulent documents to be entered into court. (THE NEXT FRAUD REQUIRING PROSECUTION).
Law firms preparing the legal documents are not doing their job of further verifying the information. (EVEN MORE FRAUD).
http://www.ritholtz.com/blog/2010/10/why-foreclosure-fraud-is-so-dangerous-to-property-rights/