More updates on the Foreclosure Freeze (Source: Rob Chrisman)
Aren't you glad that you don't head up the servicing division of a large bank who has not published a moratorium? How many times do you think they're asked by the CEO, "Are you sure everything's fine?" The latest news comes from Washington DC, where President Barack Obama vetoed a foreclosure-related bill, thus making it make it more difficult for banks to complete paperwork and speed the foreclosure process, and could give homeowners more time to rework loans. And news broke last Friday that Bank of America would immediately halt foreclosure sales in all 50 states, a development that for the first time impacts California (CA has a nonjudicial foreclosure process). Other large servicers have frozen foreclosures "only" in the 23 states that have a "judicial foreclosure'' process, citing concerns about how legal documents were processed. And in Houston, Litton Loan Servicing, owned by Goldman Sachs, halted some foreclosures and evictions so it can review its process for handling foreclosures.
One reader wrote, "The borrowers were either making their payments or they weren't. What difference does a form, or a signature, make?" (One could answer that it makes a difference whether or not the bank actually owns the mortgage!) What if there was a nationwide freeze on foreclosure sales and new evictions by all servicers? Most believe that this only delays the inevitable sale of these foreclosed properties, giving the press and the markets something to talk about in the mean time. Whether the servicers clear this up in a few weeks, or a few months, ultimately these foreclosed properties will hit the market some six to twelve months from now and further add to the inventory of unsold homes.
Aren't you glad that you don't head up the servicing division of a large bank who has not published a moratorium? How many times do you think they're asked by the CEO, "Are you sure everything's fine?" The latest news comes from Washington DC, where President Barack Obama vetoed a foreclosure-related bill, thus making it make it more difficult for banks to complete paperwork and speed the foreclosure process, and could give homeowners more time to rework loans. And news broke last Friday that Bank of America would immediately halt foreclosure sales in all 50 states, a development that for the first time impacts California (CA has a nonjudicial foreclosure process). Other large servicers have frozen foreclosures "only" in the 23 states that have a "judicial foreclosure'' process, citing concerns about how legal documents were processed. And in Houston, Litton Loan Servicing, owned by Goldman Sachs, halted some foreclosures and evictions so it can review its process for handling foreclosures.
One reader wrote, "The borrowers were either making their payments or they weren't. What difference does a form, or a signature, make?" (One could answer that it makes a difference whether or not the bank actually owns the mortgage!) What if there was a nationwide freeze on foreclosure sales and new evictions by all servicers? Most believe that this only delays the inevitable sale of these foreclosed properties, giving the press and the markets something to talk about in the mean time. Whether the servicers clear this up in a few weeks, or a few months, ultimately these foreclosed properties will hit the market some six to twelve months from now and further add to the inventory of unsold homes.
SUBJECT: GOLDMAN SACHS EMBEZZLEMENT SCHEME - SECRET SECONDS
ReplyDeleteTHE LATEST SCAM – ALERT!!! DO NOT WAIT FOR THE FORECLOUSRE MILLS, SERVICERS OR LENDERS TO GIVE YOU FORECLOSURE DOCUMENTS OR ASSIGNMENTS - THEY ARE NOT GIVING YOU EVERYTHING - ORDER A TITLE SEARCH OR GO TO YOUR COUNTY RECORDER TO SEE WHATS BEEN RECORDED ON YOUR PROPERTY – WE DID AND THIS IS WHAT WE FOUND:
In May 2005 we deposited and invested $200,000 in Real Property, where we recently found out that $118,800 was embezzled out of our property from Mortgage Lenders and Trust Brokerage Companies, namely Goldman Sachs through an escrow Transaction. The $118,800 in funds was paid to these embezzlers from the Investors unbeknownst that the securitization happened by encumbering our property and making up a fraudulent fake Promissory Note and Deed of Trust.
See the link for further information: https://fdaaccount.box.net/shared/a1pjz9sz5c