The Fix is almost in. Maybe.
As these words are written, the 2012 State of the Union Address has not yet been given. 2012 is also an election year for the President, of course.
Obama Administration officials, chiefly the Secretary of Housing and Urban Development, are reportedly engaged in pressuring State Attorneys General to release Mortgage Servicers not only from fraud claims or causes of action based on their conduct as Mortgage Servicers, but also from all their liability to all civil claims based on their conduct in lending and securing Mortgages in the first place including subprime Mortgage lending. See Nelson D. Schwartz and Shaila Dewan, "Political Push Moves a Deal On Mortgages Inches Closer" p. B1, col. 5 (New York Times Nat'l ed., "Business Day" Section, Tuesday, January 24, 2012) .
The current Banks a/k/a Mortgage Servicers involved in these talks include:
- Bank of America;
- Citigroup;
- JPMorgan Chase;
- Wells Fargo; and
- Ally Financial.
The current payment configuration would be for an average payment of "about $20,000" to "[a]bout one million homeowners". There are 8 million Homeowners currently in Foreclosure. Id.
In addition, there are 11 million Homeowners whose home value exceeds the Mortgaged amount. On average, they alone owe two to two-and-one-half times the average amount payable to 1/19 of all the Homeowners in question. See id. Even with that average amount of $20,000.00 which would be paid by the Banks-Mortgage Servicers, in other words, eleven million more Homeowners are still subject to Foreclosure if this deal is accepted, leaving a total of 19 MILLION Homeowners still subject to Foreclosure.
Some deal. But that is not all.
The "average amount" payable by the Banks-Mortgage Servicers fluctuates depending on how many States agree to release the Banks-Mortgage Servicers from unknown liabilities. It may be less.
In any event, at this time, the Attorneys General of California, Massachusetts, Nevada, and New York, among other States, are having none of it. The Homeowners and all citizens of their States are fortunate to have them on the job.
Please Read The Disclaimer.
February 10, 2012
TO ALL 3 MAJOR NEWS NETWORKS,
WHAT CAUSED THE FORECLOSURE CRISIS??? I implore you to take this story back to the BEGINNING! DIG DEEP and INVESTIGATE the FACTS and tell the WHOLE story.
WHO is the MOST POWERFUL ENTITY IN AMERICA? THE NEWS MEDIA! Whatever story you tell, and HOW you decide to tell it ultimately becomes the way it is in the eyes of Americans.
This 18 billion dollar law suit against the 5 major banks only tells me that you can commit PREMEDITATED MAJOR FRAUD that devastates millions of peoples lives, shove the billions of EXTRA money it makes you in your pockets, then IF you get caught, you'll have enough money to pay off the law makers, then you're off the hook! WHO CARES ABOUT THE LITTLE PEOPLE YOU DESTROYED? After all, they’re just the BACKBONE of AMERICA! THESE MONSTERS SET OUT TO DECEIVE HOMEOWNERS, approving them for loans for the sole purpose that they would fail, foreclose! Scooping thousands of these doomed loans into a servicing pool to be securitized and then bounced around on Wall Street because these corporate criminals that are way smarter then me, devised a way to multiply there return on doomed investments by getting subsidized 10, 20, 30 times over from multiple insurance policies placed in advance. That would be like me insuring my home with 10 homeowner's policies, each to pay me $200,000 if my house burns down, all the while knowing it IS GOING TO BURN DOWN because I placed a few faulty wires in the walls of my home. I WOULD BE IN PRISON!!! This is EACTLY WHAT THESE MONSTERS DID TO MILLIONS OF HOMEOWNERS LIKE ME! All of the stories I've seen regarding the MORTGAGE FRAUD and FORECLOSURE CRISIS are just FRACTIONS of the complete story! Robo Signers, Docx Company forging thousands of signatures on lost or destroyed loan documents, foreclosed, vacant homes causing vandalism, squatters and the drop in real estate values. This is the first time in my 47 year life that I have more knowledge on a MAJOR, NATIONAL, ECONOMICAL CRISIS then is being reported by YOU, the NATIONAL NEWS MEDIA! The source ALL AMERICANS rely on to bring them the TRUTH of a story and the WHOLE story. One year ago when I first knew I was going to have a fight on my hands to save what means as much to me as life itself, (my home) I was scared, but eager because I learned that I had rights, as an American, governed by laws long ago put into place. When I learned that LAWS WERE BROKEN, and my rights as an American were being violated I was confident that with some self education and ALOT of research, surely I would eventually prevail. My facts are evident, right here in black and white. Just show it to the judge and he will make things right, fair! I didn't want to 'WIN' a free HOME. I just wanted the judge to make the monsters play FAIR! I sit here now, the morning after hearing of the successful suit against the 5 major banks and I am devastated and overwhelmed as it sinks in that the federal lawsuit victory does NOTHING to protect ME or thousands of other people out there in the same boat. In fact, I'm feeling confident that it put the last nail in my coffin because it set a National precedence, just pay your way out of your crimes with the money you gained off of your victims. I am disheartened with our system, it is disgraceful what people in power have done to destroy EVERYTHING this COUNTRY WAS BUILT ON. No wonder this Great Country is being brought to it's knees. GREED is selling her out and NO ONE WITH ANY POWER IS BRAVE ENOUGH TO EXPOSE IT! Like so many Americans, I am! I would lay down my life TODAY if it would somehow magically expose the Beast because one day, soon, it will all be too late! My home hasn't been sold out from underneath me yet but I have received a "Notice of Default" telling me I have about 30 days left before a "Trustees Sale". No court hearing, no judge to make a ruling because I live in California, a Non Judicial State which means Whoever Holds the ORIGINAL "Deed of Trust" on you mortgage has the right to sell your home at public auction if you default on it's terms. FIRST PROBLEM, when the mortgage was securitized and pooled into a trust with thousands of other mortgages, the 'Note' and 'Deeds' HAD to be DESTROYED in order to become asset bearing investments. YOU CANNOT HAVE BOTH AVENUES TO GENERATE PROFITS. Known as DOUBLE DIPPING, it is a major IRS tax violation. So why do I keep hearing loan docs were lost, misfiled, and misplaced? THEY WERE PURPOUSLY DESTROYED! These bankers, investors just assumed we would all be too stupid to figure it all out, and even IF some of us did uncover their dirty deeds, what could just a few people do?? NOTHING! We HAVE TO RELY ON OUR NATIONAL NEWS MEDIA! THE ONLY VOICE LOUD ENOUGH TO HAVE ANY EFFECT. WE NEED YOUR HELP! If you choose to do nothing, you are allowing these THUGS to abuse and steel from the powerless and then just walk away. WHY WOULD YOU ALLOW THAT?? HOW CAN YOU JUST LET THEM GET AWAY WITH THAT?? You are our only hope!
Posted by: Kelli Chapman-Swedenskey | February 10, 2012 at 10:06 PM