On September 27, 2012, there will be a hearing on the motion to form an official borrowers’ committee for any person with a GMAC originated or serviced mortgage, GMAC foreclosure fraud, GMAC modification fraud, GMAC real estate document fraud. September 27, 2012 at 10:00am U.S. Bankruptcy Court for the Southern District of New York “Bankruptcy Court” Courtroom 501…
Continue reading ›America’s economic crash was caused by financial industry middlemen. They sold hundreds of mortgage-backed investment scams to pension funds, 401k managers, municipalities, non-profit endowments, and international investors like small towns in Europe. The investment scams, bonds based on fraudulent ratings and assurances of soundness, seemed to be a safe, secure a way to earn money. …
Continue reading ›Mortgage Electronic Registration Systems, MERS, is a mortgage database that was created in the mid-1990s by the nations’ top financial institutions and mortgage lenders. Back then, a few county level elected officials, who were tapped with the responsibility to guard the integrity of their local land records, voiced deep concerns over MERS. Those few dissenters were ignored or silenced. …
Continue reading ›Following the 1929 Wall Street Crash, the U.S. economy had gone into a depression, and a large number of banks failed. The Pecora Investigation sought to uncover the causes of the financial collapse. Lasting from 1932 through 1934, and named for the Commission’s fourth and final chief council, Ferdinand Pecora, the Commission experienced a rocky political course…
Continue reading ›If at any time since the year 2000, you purchased an American home financed with a mortgage, you most likely will have a MERS(Mortgage Electronic Registration Systems) or MOM(MERS as Mortgagee) Mortgage. If you are in South Florida, you can look up mortgages online on the following County Official Records websites: Palm Beach County Broward…
Continue reading ›Tom Grady, a wealthy Naples resident and former Florida state representative (R-Naples), served in the Florida House from 2008 until 2010. He did not run for re-election in 2010. Instead, Kathleen Passidomo was ran unopposed in Naples. In 2011, Grady was appointed by Gov. Rick Scott to be the Commissioner of the Office of Financial Regulation. He’s…
Continue reading ›“When the banks went under and the stock market went way down … I lost [most] of it,” said Charlotte Wahlstrom, 74, who lives in a trailer in a small town in Michigan and gets by on $140/month in food stamps. This wasn’t part of her retirement plan. After her divorce in 1976, Wahlstrom continued…
Continue reading ›When financed through complex credit schemes that lack basic consumer protections, homeownership and higher education can quickly become debt shackles instead of the promised brass ring of financial security and middle class status. In today’s harsh economic and jobs climate, education debt that burdens millions of young Americans is often far in excess of their…
Continue reading ›The National Mortgage Settlement which gave Ally/GMAC, Bank of America, Wells Fargo, Chase, and Citi a very easy out for massive financial and real estate crimes is getting a lot of mainstream media coverage in the wake of the release of the first report card. The full report card is here. Florida’s stats are on page…
Continue reading ›When a family is sued for foreclosure of their home by a Wall Street investment scam, the lawsuit looks something like this, U.S. Bank as Trustee for CMLT 2007-AMC2 v Jane Smith and John Smith. In this lawsuit, U.S. Bank as Trustee for CMLT 2007-AMC2 has no problem with hiring a foreclosure mill lawyer to file papers with an…
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