Tag: foreclosures

Citizen-Led Movement in California Proposes to Outlaw Foreclosures (via Ketron Property Management, Inc.)

On By southwerkIn business ethics

If you think this is a little crazy, you’re right. But in the light of how home owners have been treated over the last few years, it is totally understandable.

You can do a lot to people when they’ve been trained to take it. Currently they believe that the system is fair and that the terrible things that have happened to hundreds of thousands of Americans will be remedied once the right people figure out what’s going on.

Many of the right people knew from the beginning what was going on in the housing market and when the massive number of foreclosures began, those same right people closed their eyes.

A lot of Americans are waking up each day a little more sure that no one cares about them, their property or their rights. When justice is denied, people are going to start looking at other remedies.

This may look crazy now but if simple justice is denied large parts of the population, it’s going to get a lot crazier than this.

And it should.

James Pilant

Citizen-Led Movement in California Proposes to Outlaw Foreclosures Posted by Carole VanSickle on Wednesday, August 3rd 2011 In Sacramento, California, one citizen is taking on the lenders directly, using his “Foreclosure Modification Act” to demand that lenders provide principal and interest rate reductions in order to keep borrowers in their homes[1]. And according to the author of the proposal, David A. Benson, the best way to make this happen … Read More

via Ketron Property Management, Inc.

What is Really Happening in the Foreclosure / REO Real Estate Process / Market? One Agent’s Point of View (via East Bay Real Estate: Caldecott Properties )

On By southwerkIn business ethics

I like this.

He asks, “When will we do the right thing for all Americans?”

I would like the answer to that question myself.

James Pilant

This is a great article and it sums up the mortgage crisis brilliantly. JP

What is Really Happening in the Foreclosure / REO Real Estate Process / Market? One Agent's Point of View Is it possible there is a corrupted process at the very top (wall street executives, wall street investors, bank executives, hedge funds, etc.) Here is a thought: We know banks are not willing to reduce the principle loan amount for owners under water. That can easily be measured by the number of completed loan modification that include a principal reduction. Very (very) few: About 49,000 of all the proprietary modifications completed reduced bot … Read More

via East Bay Real Estate: Caldecott Properties

Bank of America Forecloses on Santa Clara Woman After Telling Her to Miss Her Payments | | St. George News | STGnews.comSt. George News | STGnews.com (via )

On By southwerkIn business ethics2 Comments

How many times do we have to read this same story? Telling someone that they have to stop paying to access a federal program, encouraging them to believe that they are going to get a loan modification, when your bank has already decided that no one is going to get this kind of deal, and then foreclosing on them when they fall for the bait – is this they way banks are supposed to make money?

James Pilant

SANTA CLARA – Bank of America foreclosed on a Santa Clara woman’s home, despite her doing everything she was instructed to do in order to prevent it. Annette Lake resided in her house in Santa Clara from 1986 until May 24, 2011, when Bank of America foreclosed on her home. Just after her divorce from her husband was finalized in 2008, Lake was diagnosed with breast cancer. She was laid off from her job during chemotherapy treatments. She began ha … Read More

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About Those Notes…Evidence of Securitization Fail (via foreclosuresinmass)

On By southwerkIn business ethics

I’ve been arguing the same thing, – that there was much more to the mortgage crisis than robosigning. So, give this a read. I like skepticism and intelligence. This article has both.

James Pilant

Since last October, shortly after the robosigning scandal broke, I've been talking until I turned blue in the face about robosigning being the tip of the iceberg with mortgage problems and that the real issue was chain of title. Robosigning appeared to be an almost unexpected deposition by-product; the real goal in the depositions that uncovered the robosigning was exposing the backdating of mortgage endorsement. And that they did–the notaries' … Read More

via foreclosuresinmass