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WEEKEND EDITION, AUGUST 6 AUGUST 10, 2012

MONDAY, AUGUST 6, 2012


ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

The moment the idea is admitted into society that property is not as sacred as the laws of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence.- John Adams, A Defense of the American Constitutions , 1787

LPS/DocX Settle with Missouri AG but the Investigation Continues In competing press releases late Thursday Lender Processing Services, Inc. (LPS) and the Office of the Missouri Attorney General announced the settlement of criminal proceedings against an LPS subsidiary.

HUD Unveils First Public PSA For $25 Billion Mortgage Servicing Settlement The settlement will provide up to $25 billion in relief to borrowers and direct payments to the states and federal government and it is the largest multi-state settlement since the Tobacco Settlement in 1998.

Bank accused of harassing Shell Beach couple Not long after JPMorgan Chase began servicing John and Anna Canadays mortgage, callers for the bank began threatening the couple with foreclosure if they did not make their mortgage payments on time, even though the couple had not been behind on their payments, the suit says.

Deadline to Request Independent Foreclosure Review Extended to December 31 Borrowers seeking a review of their mortgage foreclosures under the federal banking agencies' Independent Foreclosure Review now have until December 31, 2012, to submit their requests. The deadline extension provides more time to increase awareness about the Independent Foreclosure Review and how eligible borrowers may request

TARP Funds for Housing Relief 90 Percent Unspent, Auditor Says Distressed homeowners have received only 10 percent of nearly $46 billion in federal aid since the money was allocated in 2009 under the Troubled Asset Relief Program, a U.S. auditors report said today. The report criticized the Treasury Departments reaction to an audit of a $7.6 billion aid program for families in states with the largest home-price declines.

Pending Sales of U.S. Homes Unexpectedly Fell 1.4% in June Contracts to purchase previously owned homes unexpectedly dropped in June for the second time in the last three months, a sign of limited momentum in housing. The index of pending home resales decreased 1.4 percent to 99.3 after a revised 5.4 percent gain in May that was less than initially reported , figures from the National Association of Realtors showed.

Banks Scramble To Foreclosure Reform Bill

Address

New

FinCEN Assesses Suspicious Activity Involving Title and Escrow Companies The study identified thousands of instances where financial institutions, particularly banks and Money Services Businesses (MSBs), filed suspicious activity reports (SARs) involving title and escrow companies, often in connection with mortgage fraud.

Normally, 90 days must pass before a newly passed law goes into effect. But as lenders had feared, the foreclosure bill was passed with an "emergency preamble" causing its measures to go into effect as soon as it leaves the governor's desk.

>>>>>>> Mortgage Seizure Via Eminent Domain For Community Stabilization Debate And News Updated Daily http://paper.li/EmDomainDebate/1342319964

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WEEKEND EDITION, AUGUST 6 AUGUST 10, 2012

TUESDAY, AUGUST 7, 2012


ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

Eminent Domain and Deeds of Trust Code of Civil Procedure 1265.220 provides when property secured by a deed of trust is condemned, and the secured debt is not due at the time of the condemnation judgment, the owner is entitled to receive the value of the property taken, but the condemning agency will deduct the amount due the secured lender from the amount due the owner and pay only the remaining balance to the owner.

Massachusetts Foreclosure Bill Signed into Law Governor Deval Patrick of Massachusetts signed into law a bill Friday that will require lenders to first determine the value of modifying a loan before foreclosing on a home. If a modification will bring in a greater financial advantage, then lenders must opt for a modification over a foreclosure.

Florida Foreclosure Successfully Executed

Fraud

Cover-up

West Palm Beach-based housing analyst with the finance research firm Nastiaco. It leads to the question of whether the Florida Bar is protecting the people and business of Florida, or the lawyers of Florida. Their inaction strongly suggests the latter.

Foreclosure help is free, and scams are expensive If youre having trouble paying your mortgage, we can help you get connected to a HUDapproved housing counselor at no cost to you. The counselor can help you work with your servicer or lender to try to avoid foreclosure, organize your finances, understand your mortgage options, and find a solution that works for you.

Jeff Merkleys HOLC-Type Plan for Underwater Borrowers Despite the heavily lobbied narrative that housing is in the midst of a recovery, the reality is far more stark. New-home and existing-home sales fell last month, and what stability were seeing on prices comes in large part from a massive shadow REO that isnt sustainable. Mortgage delinquencies actually rose in June.

Barofsky vs. Geithner: Who's Right on the Bailouts? "In almost every critical juncture when it came to really meaningful choices in conducting the bailout, this administration and the prior administrationthere's no meaningful difference between the twoconsistently chose the interests of Wall Street banks over that of homeowners, over that of the broader economy,".

Why So Few Sought Foreclosure Redress The Government Accountability Office, in a report released Thursday, found that the review process designed by the Office of the Comptroller of the Currency and Federal Reserve has been difficult for consumers to understand. The report echoed concerns raised over the past year by several Democratic lawmakers on Capitol Hill. An outreach letter sent to consumers, a website and a form needed to request a review were.

Wells Fargo settlement

to

pay

$175M

in

lending

Now We Know What The Next Wall Street Real Estate Scam Will Be It didn't take long. We now know by an interview with Maria Bartiromo today that these Wall Street innovators want to package up rental income and sell it as securities to unsuspecting investors.

Wells Fargo, the nation's largest residential home mortgage originator, allegedly engaged in a pattern or practice of discrimination against qualified African-American and Hispanic borrowers from 2004 through 2009.

>>>>>>> Mortgage Seizure Via Eminent Domain For Community Stabilization Debate And News Updated Daily http://paper.li/EmDomainDebate/1342319964

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WEEKEND EDITION, AUGUST 6 AUGUST 10, 2012

WEDNESDAY, AUGUST 8, 2012


ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

Court of Appeals Upholds Dismissal in MERS Case, Buchna Vs. BofA FGG EDITOR'S NOTE: Does the Ninth Circuit Court of Appeals decision to affirm dismissal of Buchna Vs. BofA actually support the VP of MERSCORP's statement that "MERS has legal authority to act on behalf of the lender, including the right to execute the assignment or foreclose"? OR, is MERS simply capitalizing upon a rare opportunity to wield propaganda? ---------------------------------

Anti-Foreclosure Groups Target Governors Home Monday August 6th Governor Browns loft residence has been targeted beginning Monday (August 6) for a round-the-clock, day and night vigil with no announced end time designed to pressure the Governor to declare a statewide foreclosure moratorium and save Californians homes.

Region's foreclosure filings jump 24% in July Foreclosure filings in southeastern Wisconsin rose more than 24% in July from the same month last year, boosted by big increases in Milwaukee and Kenosha counties. Court records show a total of 896 foreclosure filings in Kenosha, Milwaukee, Ozaukee, Racine, Walworth, Washington and Waukesha counties last month.

Can Eminent Domain Save the Housing Market? The housing crisis has confounded experts for years, despite the best efforts of private parties and public governments. Now, though, a new proposal would use the government's power to take property with compensation in order to simplify restructuring mortgage loans.

Face of Foreclosure Reports The Face of Foreclosure Reports are a series of research based reports reflecting statistical information regarding Nevada foreclosure issues combined with the perspective of Nevadans regarding these challenging real estate concerns. These reports have been developed and commissioned by.

CFPB Collects More than 55K Consumer Complaints Some of the top consumer complaints include, inability to modify or refinance mortgage loans, inability to refinance or consolidate student loans, confusion regarding credit scores, and confusion regarding various terms of credit. The greatest single source of complaints, making up 43 percent of all complaints made to theCFPB, was mortgages.

Sinking Under A $10,000 Monthly Mortgage Payment Housing counselors around the country say they are seeing more people struggling to keep their million-dollar homes. It's a twist on a familiar story of hardship but one that involves some very big numbers. Expensive homes dot the hills overlooking the beaches and boutiques of Laguna Beach, Calif.

Closer to a bailout? delinquencies soar

FHA's

mortgage

Eminent domain plan gaining support Despite fierce pushback from housing and financial industry groups, interest in a plan to use local governments' eminent domain power to purchase underwater mortgages is picking up steam. The controversial plan, developed by Mortgage Resolution Partners in San Francisco and in the adoption stage in San Bernardino County, has attracted serious attention from officials in Berkeley and Chicago.

Increasingly, FHA-insured loans are falling into foreclosure or serious delinquency, moving in the opposite direction of loans guaranteed by Fannie Mae and Freddie Mac or those held by banks, which are all showing signs of improvement. And taxpayers could ultimately be on the hook for FHA's growing number of troubled mortgages.

>>>>>>> Mortgage Seizure Via Eminent Domain For Community Stabilization Debate And News Updated Daily http://paper.li/EmDomainDebate/1342319964

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WEEKEND EDITION, AUGUST 6 AUGUST 10, 2012

THURSDAY, AUGUST 9, 2012


ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

FHFA Threatens Localities on Eminent Domain Solution for Foreclosures Ed DeMarco is really feeling his oats, no doubt thanks to projections of profits at Fannie and Freddie paradoxically spurred by a housing shortage. (Those profits are at least partially derived from Fannie and Freddie evading local government transfer taxes, by the way, not DeMarcos responsible stewardship.) He rejected principal reductions as a means to solve the foreclosure crisis.

Corporate Fraud Cases Often Spare Individuals A lot of people on the street, theyre wondering how a company can commit serious violations of securities laws and yet no individuals seem to be involved and no individual responsibility was assessed, Senator Jack Reed, Democrat of Rhode Island and chairman of a subcommittee that oversees securities regulation, said at a recent hearing.

FHFA: "action may be necessary on its part to avoid a risk to safe and sound operations..." Safe and Sound, Is This A Joke? The Federal Housing Finance Agency (FHFA) has sent to the Federal Register a Notice indicating its concern with the proposed use of eminent domain to restructure performing home loans and inviting public input. As conservator of Fannie Mae and Freddie Mac and regulator of 12 Federal Home Loan Banks, FHFA has significant concerns.

Foreclosure settlement monitor hires five more firms to help "Over the past month I have worked closely with BDO to select the secondary professional firms, and these firms, working under BDO's leadership, will help to ensure that the banks are reviewed thoroughly and effectively," Smith said in a statement.

Have an interesting foreclosure tale? Do you have an interesting tale to tell about your foreclosure? The News-Press is doing a story and would like to hear from you. Please call staff writer Dick Hogan at 239-335-0432. Please leave your name and a phone number where you can be reached.

June Sees 60,000 Completed Foreclosures: CoreLogic The states that saw the highest number of completed foreclosures over a one-year period since June 2012 were California, leading with 125,000, followed by Florida (91,000), Michigan and Georgia (58,000), Texas (56,000) (55,000).

State Settles on Forgeries by Servicer of Mortgages The agreement we have reached in this criminal case with DocX should remind all mortgageservices processors that our system of titling real property will be held to a standard of accuracy and truth expected by homeowners across the country, Mr. Koster said in a statement.

L.A. sues US Bank over blighted, abandoned homes The lawsuit marks the second time the city has accused a major bank of being a slumlord, part of an aggressive attempt to deal with the urban decay caused by the housing crash. Nearly a million California homes have been foreclosed on since the housing crisis began five years ago, displacing hundreds of thousands of homeowners and tenants and wreaking havoc on some neighborhoods.

Recession's Surprise Impact on Credit Scores What did the housing bust, financial crisis and ensuing wave of foreclosures and layoffs mean for the country's credit scores? Almost nothing, it seems. The average FICO score -- the number most lenders use to gauge a potential borrower's credit-worthiness -- stood at 690 in April, according to data released last week. That is roughly in line with both last year's average score and the average in 2007, before the market meltdown and recession wiped out.

>>>>>>> Mortgage Seizure Via Eminent Domain For Community Stabilization Debate And News Updated Daily http://paper.li/EmDomainDebate/1342319964

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WEEKEND EDITION, AUGUST 6 AUGUST 10, 2012

FRIDAY, AUGUST 10, 2012


ACADEMIA ADVERSARIES ADVOCATES BLOGOSPHERE LEGAL LEGISLATE OP-ED HOMEOWNERS NEWS ForeclosureGate.org Is A Public Service Homeowner Coalition and Cooperative, Created To Exchange News And Information And To Advance Justice For American Homeowners

Federal agency may oppose eminent domain for mortgages plan The controversial plan is being considered for use in San Bernardino County, where an estimated 150,000 homeowners owe more on their mortgages than their homes are worth. Proponents say the plan could give struggling homeowners a better shot at refinancing their mortgages. But the Federal Housing Finance Agency suggested otherwise on Wednesday.

The Latest Foreclosure Data May Be A Bad Sign For The US Housing Recovery But foreclosure starts default notices or scheduled foreclosure auctions increased 6 percent on a year-over-year basis. This represents the third consecutive month of increases after 27 straight months of declines. And the foreclosure starts increased on an annual basis in 27 states, jumping 201 percent Foreclosure Settlement Fails To Mortgage Companies To Improve Force

Facing foreclosure? Rent your home from the bank Underwater homeowners facing foreclosure may have a chance to stay in their homes. According to a press release issued Wednesday by CitiMortgage, the mortgage giant has partnered with Carrington Mortgage Services LLC to establish the Home Rental Program.

Very Bad Things Happen When We Depend on the Same People Who Caused... Its a simple set of questions: How many foreclosed properties are there in the country? What zip codes are they in? What factors sent peoples homes underwater? For policy makers, journalists or anyone trying to size up or address the years-old housing crisis, these questions present the natural place to start. Now It's the Big Banks Facing Foreclosure Call it a case of man bites dog. Since the start of the housing crash, millions of Americans have lost their homes to foreclosure. Many of them lived in homeowner or condo associations. These are organizations that collect monthly dues to pay for amenities, like added security, maintenance and recreational areas; one in five Americans currently lives in an association-governed community.

Katie Diaz arrives at the Bronx County Courthouse hoping for clarity, if not a reprieve from the foreclosure case threatening her home. Five months has passed since she submitted an application to Bank of America seeking lowered mortgage payments. She is eager for a decision - an approval, a denial or at least a. Distressed properties arent a problem in the WA DC area compared to the rest of the nation But foreclosures arent the story in the Washington region. Indeed, recent data from RealtyTrac indicate that the foreclosure rate in the Washington metropolitan area is very low.Data and analysis by RBIntel reveals that foreclosures and short sales comprise a relatively small and declining share of sales.

BofA Profit Rebound Marred by $22.7 Billion in Mortgage Claims Bank of America Corp.s second- quarter results were marred by record claims for refunds on faulty mortgages, casting doubt on whether improvements in the lenders real estate operations will last. We dont think this is done, said Paul Miller, an analyst at FBR Capital Markets and a former Federal Reserve Bank of Philadelphia examiner with a hold rating on Bank of America.

California Officials Float Plan Restructure Local Mortgages

To

Seize,

The plan is currently in the "conversation" stage, according to county officials but, already, mortgage bond investors are in an uproar, challenging the constitutionality of such as move. Should San Bernardino County seize mortgages using eminent domain, it would set a precedent for other U.S. counties to do the same, threatening how the mortgage-backed securities market operates.

>>>>>>> Mortgage Seizure Via Eminent Domain For Community Stabilization Debate And News Updated Daily http://paper.li/EmDomainDebate/1342319964

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