Supreme Court Ruling Strengthens Foreclosure Mediation - KTVN Channel 2 - Reno Tahoe News Weather, Video -

 Nevada has developed a mediation program that seems to have developed some teeth in dealing with banks, mortgage abuses and Robo- Signing fraud.  In short the program allows mandatory mediation between banks and borrowers who have been given notice of foreclosure.  A fee is required in range of $200 dollars by both parties and the banks are supposed to show up with someone able to make decisions regarding a refinance.  It gives borrowers who have been getting the servicer shuffle merry-go-round treatment a chance to make their case for modification.  (in theory of course). 


Although program is good it has had its share of abuses by lawyers charging huge fees to just show up and do nothing while the bank gives another version of the paper shuffle.  The teeth has come now with legislation that makes in mandatory for banks to provide the original note to the mediator and to show the have proper ownership and proper right to foreclose on the property.  As you can see in the article that this is the fly in the ointment for the banks and seem to have slowed the rate of robo-signing and fraudulent paperwork dramatically.

It is hard to say it will have any lasting effect on the foreclosure problem or help increase pressure for a legitimate solution for the seriously underwater home owner but it is one step that calls for increasing accountability by the banks and servicers, something that is long over due. 




Supreme Court Ruling Strengthens Foreclosure Mediation - KTVN Channel 2 - Reno Tahoe News Weather, Video -

The end of capitalism underway?

New York times actually not siding with the banks in the settlement that the Obama Administration is pushing. Anything Obama is pushing should be seen as problematic. They have let the economy fall so far and the housing market go so long while be slapped around by the banks that they are desperate to do anything that might get people to forget how much they screwed things up. They mistakenly believe that a settlement letting banks off the hook would be good for the economy and good for the country. The only party a settlement would be good for would the banks. The bank execs could keep their huge salaries and ridiculous bonuses they gotten for running the economy in to the ground.



We have seen two major failings of our government in the past 10 years. The first was 9/11 as the government failed to protect our borders from attack costing thousands of lives. The second was the Tarp program and the fleecing of the country by the banks and Wall Street that has been never been held accountable for any of their criminal activity.


We are now looking at a 3rd major failing of our government. It will be a travesty if the Obama administration gets their wish and gets this silly settlement to go through with the banks. The government is supposed to look after the people and look out for their interests. The SEC failed for years and now the White House is taking up the battle to screw the people. They are going for the hat trick of major screw up all within the past 10 years.

Yet we are still supposed to believe that this is a government by the people of the people. We are hitting the end of the democratic republic. This form of government will only last for so many years until the government corruption and corporate influence squeeze out the middle class leaving the poor and the ruling class. Sounds Crazy Doesn't It? We are not that far off.










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Fraud being uncovered in some states regarding foreclosures and big banks

  from FDN web site

This month, FDN attorneys have been successful in both Oregon and New Jersey in compelling, by court Order and over objection of the “bank’s” attorneys, the production of PSAs, trust formation documents, trust prospectuses, and documents as to the alleged authority of MERS. FDN attorneys Jeff Barnes, Esq. and Philip Anderson, Esq. in Oregon, and Jeff Barnes, Esq. and Michael Jacobson, Esq. in New Jersey, have obtained court rulings compelling this critical discovery. In other cases where Mr. Barnes was able to obtain this discovery by court order, it has been revealed that the purported assignment to a trust years after the trust closed violated the very requirements of Mortgage Loan Conveyance provisions of the PSA. Thus and in conformity with Weisband, the loan never made it into the trust. The resultant lack of standing, lack of chain of title, and lack of real party in interest issues are scheduled to be argued by Mr. Barnes before various courts in February, and a trustee in a bankruptcy case in Mississippi has filed an adversary proceeding based on evidence that the purported assignment of the loan, which was done years after the trust closed, was ineffective as it violated the restrictions of the PSA.










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