WEEKEND EDITION, MARCH 25 MARCH 29, 2013

MONDAY, MARCH 25, 2013

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

Fighting Foreclosure In Washington State Barred by a foreclosure order from setting foot on the land where he grew up, Steve Schroeder stood just beyond the property line and stared in disbelief at the splintered wreckage of his childhood home. For more than three years, Schroeder had struggled to save the house and 200-acre property along Hodgson Road, north of Colville. Despite all of his objections, appeals and other attempts to stall, his loan company ordered the house demolished in February of 2012. They took a backhoe straight up there and ripped down the side of the house, he says, started right in on the side of the house, destroyed it, turned it into rubble.

As homeowners struggle, attempts grow to help them avoid foreclosure Nationally, the housing market has shown sustained growth in the past several months, thanks in large part to rising home sales and fewer mortgages in distress. In New Jersey, though, theres still work to do, several studies show. Theresa Martinez of Union is among those who, despite having a job, finds herself at risk of losing the home shes lived in for 28 years. She had been a teacher for 14 years and worked with the N.Y.

Foreclosure help slow to reach masses in Nevada While Nevada had the highest foreclosure rate in the nation, the state received about $200 million from the federal government to help homeowners avoid losing their homes. But a Reno GazetteJournal analysis of the fund distribution shows that the money was almost untouched in the past two years. In fact, Nevada has spent only 11 percent of the money it received through the Obama administrations Hardest Hit Fund, according to the analysis of U.S. Treasury reports.

New U.S. foreclosure filings rise in February More U.S. homeowners were hit with new foreclosure filings in February, pointing to the challenges the market still faces even as the housing recovery gains traction, data from RealtyTrac showed on Thursday. Foreclosure starts were seen on 71,488 homes in February, up 10 percent from the month before, though that was still down nearly 25 percent from a year ago. Many of the states that saw the biggest.

February foreclosure filings plummet 25% Foreclosure filings plummeted 25% from year earlier levels in February even as filings edged up 2% from the previous month, RealtyTrac said Thursday. The Irvine, Calif.-based research firm counts default notices, scheduled auctions and bank repossessions as foreclosure filings when compiling its monthly report. In February, 154,281 properties faced some type of foreclosure notice, suggesting one out of every 849 U.S. housing.

Fiscal trouble ahead for most future retirees For the first time since the New Deal, a majority of Americans are headed toward a retirement in which they will be financially worse off than their parents, jeopardizing a long era of improved living standards for the nations elderly, according to a growing consensus of new research. The Great Recession and the weak recovery darkened the retirement picture for significant numbers of Americans.

Americans Are Tapping Their Homes For Cash Again Nearly 11 million borrowers are underwater on their mortgages, owing more than their homes are worth, according to CoreLogic, and yet home equity lines of credit are suddenly on the rise again. During the housing boom of the last decade Americans withdrew over $1 trillion in home equity. They did it through cash-out refinances, home equity loans, and home.

The Federal Reserve Has Set You Up: Set Them Up Right Back UCC Explained in detail With the economy in its present Federal-Reserve-orchestrated-condition, your eventual default on the promissory note and mortgage against your property is assured. Prepare now, for that inevitable day. The following is one possible course of action against the criminal banks: References to the Uniform Commercial Code (UCC) are to the Federal UCC. Each state in the union, except Louisiana, has adopted the Federal UCC into its own law. The Federal UCC can easily be cross referenced to your local jurisdiction. When using the UCC in your jurisdiction, reference the version of the UCC adopted in that particular jurisdiction.

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WEEKEND EDITION, MARCH 25 MARCH 29, 2013

TUESDAY, MARCH 26, 2013

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

In major policy shift, scores of FDIC settlements go unannounced Three years ago, the Federal Deposit Insurance Corp. collected $54 million from Deutsche Bank in a settlement over unsound loans that contributed to a spectacular California bank failure. The deal might have made big headlines, given that the bad loans contributed to the largest payout in FDIC history, $13 billion. But the government cut a deal with the bank's lawyers to keep it quiet: a "no press release" clause that required the FDIC never to mention the deal "except in response to a specific inquiry." The FDIC has handled scores of settlements the same way since the mortgage meltdown, a major policy shift from previous crises, when the FDIC trumpeted punitive actions against banks as a deterrent to others.

Rebounding Foreclosures Threaten Home Price Gains in One-Third of Major Metros But in at least seven of the 20 metros, home price gains could be threatened in 2013 by another round of foreclosures and short sales hitting the market during the year. Thats because those seven metros experienced rebounding foreclosure activity in 2012, and much of the new foreclosure activity from 2012 will translate into a rebound in the supply of short sales and bank-owned homes listed for sale in 2013.

Lenders Must Comply with New Foreclosure Requirements in Illinois Courts Mortgage lenders in Illinois are required to use the judicial process to obtain collateral and enter deficiency judgments against borrowers. In February 2013, Illinois crafted two new rules adding additional requirements to the judicial process. The rules were set to become effective March 1, 2013, but the effective date was subsequently postponed to May 1, 2013. The Illinois Supreme Court, concerned by what appeared to be abuses in the system, convened...

U.S. Justice Dept, states weigh action against Moody's The U.S. Justice Department and multiple states are discussing also suing Moody's Corp for defrauding investors, according to people familiar with the matter, but any such move will likely wait until a similar lawsuit against rival Standard and Poor's is tested in the courts. Inquiries into Moody's are in the early stages, largely because state and federal authorities have dedicated more resources to the S&P lawsuit.

The Great [Housing Bubble] Mania The full story about housing and the economy has been ignored too long. Like all manias, it was a long time building. The boom of the 1950s and 1960s, featuring rising incomes and wealth, occurred in a well-balanced economy. The benefits of economic growth were fairly evenly distributed. That was an economy where the U.S. manufacturing sector was competitive and flourishing, its infrastructure was adequate and being improved, and housing valuations were.

TARP: The Bailout Success Story That Wasn't Remember the Troubled Asset Relief Program, better known as TARP? When we last heard from the Treasury Department, on Jan. 23, TARP was being wound down. It was, in the estimation of Timothy Geithner & Co., a success: 93% of the $418 billion disbursed had been collected including $70 billion last year. Read the latest Treasury Department progress report on TARP. But hold the Champagne. It aint over till its over.

We still have renters to thank for healthier housing market For all the good news we've heard about the U.S. housing market, some things still haven't changed. Builders are breaking ground on more new homes than we've seen in years, but buyers aren't exactly clamoring for them. For the past year, housing starts have risen by 37%. However, home sales haven't kept up, rising only 9% during the same period, according to a report by Capital Economics.

How luxury-home owners dodge foreclosure For lenders, its worth the extra effort to avert foreclosure on luxury properties. They incur substantial expenses holding these homes, including paying property taxes, maintenance costs and, often, homeowners fees. The homes are also more difficult to sell, since fewer buyers can afford to purchase them. And when lenders eventually unload them, its often at a loss. Lenders have more of an incentive to work out payment plans for these borrowers than with the ones [whose homes] may move quickly,.

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WEEKEND EDITION, MARCH 25 MARCH 29, 2013

WEDNESDAY, MARCH 27, 2013

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

Real estate filing fees nearly double in Riverside County The fees are imposed whenever an individual or business records a deed of trust, a notice of default, notice of trustee sale, affidavit, lien, lease or quitclaim deed, as well as other documents filed with the Office of the AssessorClerk-Recorder. Revenue generated from the fees is deposited into the Real Estate Prosecution Trust Fund, from which the D.A.s office withdraws money as needed restricted for investigations and prosecutions of mortgage and foreclosure-related scams.

Aurora Bank will terminate 39 workers, most in foreclosure review Aurora Bank, a former mortgage- lending arm of Lehman Brothers, plans to let go of 39 workers, primarily in its foreclosure-review department. All of the workers will be dismissed by March 30 except for the associate general counsel, who will depart by April 27, according to a Worker Adjustment and Retraining Notification Act notification filed with the Colorado Department of Labor and Employment. Aurora Bank and its affiliate Aurora Loan Services.

Jumbo Mortgage Divide Starts Shrinking Even as mortgage rates begin to rise, the difference between conforming and jumbo loan rates is shrinking, and that is good news for buyers of higher-priced homes. Conforming loans are largely financed by Fannie Mae and Freddie Mac, and are valued at up to $417,000 although they can be as high as $625,000 in some of the nation's pricier markets. Jumbo loans are anything above that and are funded by banks or private investors. Rates used to be far higher for jumbo loans, but that is changing fast.

Underwater Homes Remain a Dark Spot in the Recovery When Sally Herigstad and her husband wanted to buy a house recently in their Seattle suburb, they ran into some unfriendly numbers. They owe the bank about $360,000 on their existing home, but a sale would bring in only the low to mid-$300s: theyd have to close the deal with a big check. So the couple went ahead and bought the house they wanted--and then rented the first. Still, Sally finds being a landlord a hassle. If I could sell it and get my money out, Id do it today, she says of the first home.

Backdated Mortgage Assignment Comes Back To Haunt Foreclosure Lender in Juarez v. Select Portfolio Federal Appeals Court Reinstates Borrowers Wrongful Foreclosure Claim Noted Massachusetts foreclosure defense attorney Glenn Russell is on a roll of a lifetime, yesterday winning a rare victory on behalf of a borrower at the U.S. Court of Appeals for the First Circuit in Boston. The case is Juarez v. Select Portfolio Servicing, Inc. (11-2431). believe, the first federal appellate ruling in favor of a wrongful foreclosure claimant in the First Circuit which.

Liability for Unpaid Community Association Assessments After Lien Foreclosure When property owners stop paying their mortgage, they typically stop paying community association assessments as well. In fact, it is more likely that a property owner will not pay association assessments, believing incorrectly that the homestead provision of the Florida.

New foreclosure trend for Palm Beach County The latest statistics released by the Clerk & Comptrollers office indicate the number of new foreclosure cases is up just over 12 percent in Palm Beach County compared to cases filed in December. Foreclosures are also up over the same period last year. According to a release from Clerk & Comptroller Sharon Bocks office:

Last rites in foreclosure fight? Minnesota Senate Dems block hearing on Homeowners' Bill of Rights This is not the way Minnesota housing rights activists thought it would turn out when Democrats regained control of the the State Legislature: Hopes for passing a Homeowners Bill of Rights to protect Minnesotans from needlessly losing their homes to foreclosure all but died Friday. A Homeowners Bill of Rights similar to one that was adopted by California last year would require automatic mediation between banks and homeowners facing foreclosure and prohibit the practice of dual-tracking, in which banks negotiate with homeowners while simultaneously moving them towards foreclosure, often without their knowledge. Activists have been hoping that the Legislature will adopt such protections to help end the foreclosure crisis but got a cold dose of political reality.

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WEEKEND EDITION, MARCH 25 MARCH 29, 2013

THURSDAY, MARCH 28, 2013

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

Banks Are Too Big to Fail Say ... Conservatives? So not only does power get concentrated in the hands of a few financial firms, but those firms are encouraged by the implicit subsidies to take on outsized risks, and are assured of a bailout if things go awry. If youre an institution and you think you can have a lot of leverage and put it on the government if it goes bad, youre going to have a lot of risk, explains Sheila Bair, a Republican and former chair of the FDIC. Conservatives say this scheme undermines economic freedom and makes it impossible for the market to function properly to reward prudence and discipline recklessness

Judicial foreclosure February

filings

increase

in

Ally-Rescap Dispute Shows the Rest of the Story: Myth vs. Fact It is still too much to fathom for most Judges, lawyers and even homeowners and investors. The scale of theft in the mortgage crisis is not accepted by government either, so it is being replicated by the banks in student loans and commercial loans to businesses where the spigot is wide open with crazy terms. The diversion of funds and documents has been working very.

Court-supervised foreclosure starts surged again in February, according to a reseller of foreclosed homes. Oregon's seven largest counties collectively reported legal action on 996 properties, according to Gorilla Capital, a Eugene company buys, redevelops and sells foreclosed homes. Those numbers mostly represent foreclosure cases.

Foreclosure delays: D.C., Maryland keeping homes but losing value For homeowners in Washington, D.C., Maryland and dozens of other jurisdictions, its getting harder and harder to lose a home to foreclosure even if the owner has not made any mortgage payments. That is what Jeffrey Fisher has noticed in his 38 years as a foreclosure attorney for banks in the Washington area. At the height of the housing crisis, he was selling about 40 foreclosed properties a month in the District, he said, but business has slowed to a trickle.

Non-judicial foreclosures get delayed for a reason Legislative issues are also a key factor in nonjudicial foreclosure delays. Its crucial that servicers prepare themselves for pre-foreclosure mandated notice requirements (state specific), state mandated pre-foreclosure contact requirements and state mandated mediation requirements. State laws are also mandating cessation of efforts or time to appeal, which could cause issues in the process as well. Process delays also include issues dealing with the poor.

ResCap Creditors May Pursue Litigation Against Ally Financial Residential Capital LLC won't stand in the way of creditors seeking to litigate claims against the mortgage lender's parent, Ally Financial Inc., for actions they say harmed ResCap, a court filing shows. The official committee representing unsecured creditors in ResCap's Chapter 11 bankruptcy said in a filing late Tuesday that the lender will consent to a motion the committee.

Record Drop in Foreclosure Starts, but 90 Day Delinquencies Increase -MBA Mortgage delinquency rates fell in the fourth quarter of 2012 to their lowest rates since 2008. According to data from the National Delinquency Survey (NDS) released by the Mortgage Bankers Association (MBA), delinquencies in one-to-four unit residential properties fell to a seasonally adjusted rate of 7.9 percent of all outstanding loans.

Heard of 'Rent Skimming'? Rent Skimming is defined as: An owner collecting rents and deposits on property without making payments on the loan and pocketing the rents. In the economic climate were coming out of, my concern is that if a property is in foreclosure or the owners are planning on letting the property go into foreclosure soon, individuals could find themselves having paid rent but not getting credit for it. What recourse would a tenant have if they are evicted by the bank because there are no rent receipts for their unit, but they paid. If we frame the situation as strictly a legal question the matter is straight forward at least in CA (yes even in CA!!). It is illegal under two sets of circumstance:

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WEEKEND EDITION, MARCH 25 MARCH 29, 2013

FRIDAY, MARCH 29, 2013

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

Realtor Charged With Theft By Deception, Altering Deeds, Conspiracy FORECLOSUREGATE GAZETTE EDITOR'S NOTE: We all know that banks perpetrate "theft by fraud" upon American homeowners daily, stealing our homes at wrongful foreclosure auctions, held on courthouse steps across the United States. The only difference between the banks "theft by fraud" and this realtor "theft by fraud", is that the realtor was arrested for her wrongdoing and the banks are permitted to continue their raping and pillaging of American homeowners. -------- A Sparta resident and real estate agent has been arrested and charged with multiple crimes after allegedly aiding others in fraudulent home deed-changing schemes, Bergen County Prosecutor John Molinelli said.

Why Foreclosures in Vermont Are Up Even as the national foreclosure crisis appears to be easing, Vermont is experiencing a spike in legal filings by mortgage lenders seeking to take title to homes whose owners have fallen behind in their payments. Vermonts foreclosure rate has ranked as one of the lowest in the country in the years since the 2008 financial meltdown put millions of Americans in jeopardy of losing their homes. Today, the state is an outlier once again for the opposite reason.

Sen. Soto, Democrats, crackdown bills

file

foreclosure

Calling Floridas No. 1 ranking on foreclosures shameful, some lawmakers are pushing for reforms to the foreclosure law, hoping to help homeowners keep their properties. At a Tuesday press conference, some Democrats in the Florida Legislature pushed for new changes to laws governing Floridas hundreds of thousands distressed properties. They say the changes are necessary to protect homeowners from banks.

How do bankruptcy and judicial foreclosure interact in Oregon? Q: Can a homeowner file for bankruptcy in an attempt to wipe down unsecured debts and maybe save the property after a writ of execution has been file in a judicial foreclosure? What about during the redemption period? A: But in general, I have had clients who could not get a loan modification prior to filing bankruptcy because of too much other debt, and then were able to get a modification after bankruptcy since the debt was discharged.

A.G. Schneiderman Announces $1.8 Billion In Relief For NYS Homeowners From National Mortgage Settlement Following the release of the second official report on the implementation of the National Mortgage Settlement today, Attorney General Eric T. Schneiderman noted encouraging progress on behalf of New York State homeowners. The report, which was issued today by the settlements national monitor showed that over $1.8 billion in consumer relief has been delivered to New York homeowners since March of 2012.

Help with foreclosures Officials with the Illinois Foreclosure Prevention Network want to get the word out that free statewide resources and financial assistance are available for homeowners contending with foreclosure. The network was launched almost a year earlier after Gov. Pat Quinn said in his 2012 State of the State speech that he was creating an Illinois Hardest Hit Program (IHHP) with funding available for mortgage payment assistance to qualified homeowners.

FHA considered 'high-risk' by government oversight group Furthermore, the FHAs single-family loan insurance portfolio has grown from $300 billion in 2007 to $1.1 trillion in 2012, GAO said. "Although required to maintain capital reserves equal to at least 2% of its portfolio, FHAs capital reserves have fallen below this level, due partly to increases in projected defaults on the loans it has insured. As a result, we are modifying this highrisk area to include FHA and acknowledge.

Look Who Got thrown Under the Bus for Criminal Prosecution on Banking Crisis So they have a scapegoat that they are going to send to prison without involving any of her superiors, affiliates or the actual conspirators who created LPS and DOCX. The case proves, however, that people CAN go to jail for these crimes and that the line we were fed about it not being illegal was incorrect or an outright lie. The truth, as we now know it, is that the actions of the banks were a total fraud and that many entities and companies and institutions aided and abetted the the most massive fraud in human history.

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