Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees. The employee statements were filed late last week in federal court in Boston as part of a …
Wall Street’s propensity to ravage the economy, launder money, and illegally foreclose on families with no harsher punishment than a slip on the wrist seems to have irked some of the nation’s brightest. Either that or the shrinkage of jobs in the finance sector is turning them off. According to …
I have spent the better part of four years trying, with little success, to raise awareness aboutforeclosure fraud, the largest consumer fraud in the history of the United States. In fact, there’s a whole little band of us writers and activists and foreclosure fighters. We have provided multitudes of …
The foreclosure crisis in America has had many unexpected twists. But none may be as striking as the latest development: real estate speculators, with billions in ready cash, are swooping into hard-hit locales and buying foreclosed and low-end homes with the same vehemence that created the housing market bubble. …
During the last housing crash, the big banks begged the federal government for help and they received it, but when average Americans ask the big banks for help most of the time the banks show no mercy whatsoever. If you fall behind on your mortgage payments, the big banks …
No wonder the Fed and the OCC snubbed a request by Darryl Issa and Elijah Cummings to review the foreclosure fraud settlement before it was finalized early last week. What had leaked out while the Potemkin borrower reviews were underway showed them to be a sham, as we detailed at length in an …
The overwhelming impression from watching the Republican and Democratic conventions is this may be the first national election in which voters are being told by both parties notto ‘vote for’ their candidate but to ‘vote against’ his opponent. The main message of the Republican convention and Romney team is: ‘if …
Here is an open letter that Barack Obama should write to Mitt Romney – pronto Dear Mr. Romney: Not a day goes by without you blaming me for every slumping or stagnant economic indicator. Unemployment, increases in the number of food stamp recipients, government borrowing, and spending, home foreclosures, economic …
I used to have a deputy who said that the FHA mortgage insurance funds were where mortgages went to die. That was, however, before the creation of MERS, derivatives and the explosion of mortgage fraud during the 1990′s which in combination with the “strong dollar policy” engineered what I have …
Last July, approximately 1.5 million homes, 1 in 352 homes, were in a stage of foreclosure, and 14.9 million of all mortgages—31 percent—are underwater. The foreclosure rate right now is on course to overtake 2010’s high of 2.9 million foreclosures among 3.8 million filed. Combining these two figures, and estimating …
The letter from Bank of America Home Loans got right to the point. “We are pleased to inform you that we have approved your Home Equity Account for participation in a principal forgiveness program offered as a result of the Department of Justice and State Attorneys General global settlement with …
Economic/financial systems dependent on wars and predation eventually self-destruct. Western capitalism is no exception. Money power runs things. War profiteering is policy. Ordinary people have no say. Exploiting them for profit is prioritized. Divisions between rich and poor grow. By some measures they’re unprecedented. Money power in private hands and …
Wall Street banks have hollowed out our communities with fraudulently sold mortgages and illegal foreclosures and settled the crimes for pennies on the dollar. They’ve set back property records to the early 1900s, skipping the recording of deeds in county registry offices and using their own front called MERS. They …
Dr.Vikki Hufnagel one our nation’s top investigative reporters, host of The Ethical Doctor on Pacifica Radio –WBAI NY and PRN.com is launching a new series “Stealing Home ” revealing the crimes of banks and creating a means to right these wrongs with “The Order of Retribution”. The series opens with …
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