California Takes the Bait, Is Wooed In Foreclosure Fraud Settlement Talks

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California Takes the Bait, Is Wooed In Foreclosure Fraud Settlement Talks

California Takes the Bait, Is Wooed In Foreclosure Fraud Settlement Talks

People NEED JOBS ..!! I don’t care if you refi or reduce the mortgage 50%… “people” need jobs.

Do all the math you want and all these mortgages will head back into default. Is anyone paying close attention to the economy? Just because AG’s have security and banker back ups, there are millions who can barely put food on the table. So this refinance plan WILL NOT WORK for all!

Again, if anyone does this… you will create new paper to correct any issues that may exist with the original paper trail.

It’s a trap and no wonder this world is failing.

LA Times-

California is reemerging as a central focus for state attorneys general hoping to reach a nationwide wrongful-foreclosure settlement with major banks, even though the Golden State walked away from talks three weeks ago.

Iowa Atty. Gen. Tom Miller, who is leading the negotiations on behalf of the states and federal agencies, met with representatives of the nation’s five largest mortgage servicers in Washington on Friday to discuss details of a new plan aimed at enticing California back into the fold.

[LA TIMES]

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3 Responses to “California Takes the Bait, Is Wooed In Foreclosure Fraud Settlement Talks”

  1. john says:

    Bernanke to Senate Democrats: Don’t expect more stimulus

    http://thehill.com/homenews/senate/188901-bernanke-to-dems-dont-expect-more-stimulus

    [snip]

    Sens. Dianne Feinstein (D-Calif.) and Barbara Boxer (D-Calif.) quizzed the Fed chief on how to reduce foreclosures, which have left many homeowners under water.
    “We also talked with him about how to get more renegotiation of home loans,” said Feinstein, noting that in some California counties as many as 55 percent of homes are worth less than the value of their mortgages.
    Bernanke said he would submit to Congress next week a list of legislative recommendations to reverse the tide of foreclosures.

    Note: I wonder how many foreclosed properties Dianne’s husband is involved with (CBRE) that it has purchased/re-sold over the last 5 years? In light of the recent Massachusetts SJC decision re: Bevilaqua, this bodes badly for CBRE and others.

    http://hotair.com/archives/2009/04/22/cb-richard-ellis-internal-denial-on-feinstein-allegations-to-employees/

    [snip]

    Earlier today, an employee of CB Richard Ellis forwarded me an internal memo distributed to all employees after the Washington Times exclusive on alleged abuse of power and conflict of interest by Senator Dianne Feinstein. The senior Senator from California allegedly pushed $25 billion to the FDIC in unusual federal funding at the same time the agency was granting a bid by CBRE to manage its residential-foreclosure properties and sell them at higher-than market commissions. CBRE’s board chairman is Richard Blum, Feinstein’s husband.

    Now for Tom Miller:

    http://dailybail.com/home/matt-taibbi-on-iowa-ag-tom-miller-the-best-way-to-raise-mass.html

  2. McGruff says:

    This where OCCUPY should focus their efforts … on the White House … on the DOJ … on the State AG’s … this is where the corruption is being readied.

  3. Nancy says:

    WAKE UP PEOPLE, we (the homeowners) did not do the fraudulent acts that the financial institutions did to us. This was done in private the American Home Owner trusted their Lender to honest and fair. When the initial moment of buying our homes; there were no others involved except the lender & the borrower when signing the contract. A third party should always be identified before the signing takes place.

    MERS is a third party entity who has no financial or property interest nor the assignees/assignors; because they are UNKNOWN.
    MERS should have never been included as a nominee or beneficiary to a third party as they were not there during the signing and have a limited part of duty. They have not and still do not keep the recording of records publicly, nor do they pay the fees to help counties support their judicial system.

    They passed a “Foreclosure Fraud Act of 2012” June 24 or 25th this year. This will help to put those who worked or is working for the different entities in prison but what about the employer who told them to sign these mortgages,assignments or affidavits which the management and CEO’s or owners of the entity (company, bank etc.) These people should share in the punishment or three times the amount for each charge. They were the so-called professionals..not us. Most Robo-Signers did not read what they signed. The Pro’s did, they have legal background with securities and the regulations set by law; that is why they get the “BIG BUCKS”

    These settlements are not going to help many homeowners, as it is not enough money; they should wipe out all debt from the beginning and give the home back to the homeowner since our economy is not improving and there is hardly any work & most of the Seniors are being put out in the cold financially.

    Stop printing money! We can not pay the interest payment now on our debt to China, unless you want to lose our country.
    WAKE UP PEOPLE

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