Foreclosure Fraud by the Banks

Whew!

The article linked below is an expansive look at mortgage and foreclosure fraud by the nation’s largest banks. If you’re ‘too big to fail,’ it doesn’t matter how much crime you commit, you’re also ‘too big to jail.’

It’s dismaying.

(investigative report from the CBS affiliate in Atlanta)

 

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About

Ward Lucas is a longtime investigative journalist and television news anchor. He has won more than 70 national and regional awards for Excellence in Journalism, Creative Writing and community involvement. His new book, "Neighbors At War: the Creepy Case Against Your Homeowners Association," is now available for purchase. In it, he discusses the American homeowners association movement, from its racist origins, to its transformation into a lucrative money machine for the nation's legal industry. From scams to outright violence to foreclosures and neighborhood collapses across the country, the reader will find this book enormously compelling and a necessary read for every homeowner. Knowledge is self-defense. No homeowner contemplating life in an HOA should neglect reading this book. No HOA board officer should overlook this examination of the pitfalls in HOA management. And no lawyer representing either side in an HOA dispute should gloss over what homeowners are saying or believing about the lawsuit industry.

3 thoughts on “Foreclosure Fraud by the Banks

  1. Cynthia

    Ward and your blog readers, here is another outstanding report on the foreclosure frauds and negative impact , land title records from Salem County, MA.
    12.20.14 – MA – 40,000 foreclosure frauds – Salem County, Massachusetts – “County a crime scene…”
    http://www.occupy.com/article/40000-frauds-mass-official-says-foreclosure-crisis-county-still-crime-scene

    I believe this is in many, many, many counties, across the USA. I heard the same words from Guilford County, NC, recorder of deeds on the number of fraudulent foreclosures and they cannot guarantee and land title (record) either!

    From the article linked above, the message to the country’s register/recorder of deeds: “Please stand up and do the right thing. Don’t turn a blind eye to fraud. People elected us to insure the integrity and accuracy of the land recordation system. That is our job. We took an oath to uphold the laws and the Constitution of this great country. By allowing these banks to record whatever they want, any register/recorder who allows this to happen, knowing what we now know, is making a huge mistake. “If I receive a document with a surrogate signer, I record it, [and] place a marginal reference on it to let the world know that I have sent the document to our Attorney General as I believe it violates the Massachusetts law pertaining to mortgage fraud. I have done this hundreds of times. I would be more than happy to show anyone how to do this.” When we are constantly exposed to stories about foreclosure fraud, and to our government’s ignorance in addressing and criminally prosecuting those involved, we must ask ourselves, Where is the way out? Where to go from here when all around us are very high walls protecting the fraudsters? When and how can we, as a nation, recover from this? Here is what Register O’Brien said about that: “Only when we admit that this was the biggest scandal to ever hit the land recordation system in this country. Those who are responsible for this should be held accountable. Audits should be conducted and peoples’ property rights and chains of title restored to what they were prior to this national nightmare. “Let us not forget that the Salem Registry of Deeds houses the oldest land records in this country dating back to the original Indian Deeds and sadly, because of what these financial institutions have done, I can no longer attest for their integrity or accuracy of those records.” – See more at: http://www.occupy.com/article/40000-frauds-mass-official-says-foreclosure-crisis-county-still-crime-scene#sthash.iq4rfji1.dpuf

    Reply
  2. Cynthia

    And, yes more foreclosure outrage and insanity. “Zombie Foreclosures.” How many of these “foreclosures” (fraud closures) were “legit” to begin with? 11.02.15 – Senators demand answers on New Jersey zombie foreclosure crisis

    http://www.housingwire.com/articles/35512-new-jerseys-senators-demand-answers-on-states-zombie-foreclosure-crisis#.VjmTmZn15fg.facebook

    Senators demand answers on New Jersey zombie foreclosure crisis
    According to a recent report from RealtyTrac, the state of New Jersey has more zombie foreclosures than any other, and now, the state’s two senators are asking…

    housingwire.com

    Reply

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