The Christmas Season in the history-conscious Texas-Louisiana family where I grew up always ended with January 8, Battle of New Orleans Day. I suppose this day was as important to the 19th Century South as 9-11 is to the World of the 21st Century… albeit it was a Patriotic Day of much greater optimism and affirmation of liberty than pessimism and fear of phantoms.
What amazes me at present is that the Presidential election season has started in earnest and nobody is standing up for the defrauded, the dispossessed and the defeated in this country despite the fact that no single episode of continuous destruction of homes, families, and private property has happened on the present scale anywhere in the USA since the War of 1861-1865, in the midst of whose sadly understudied sesquicentennial we are currently coasting, only partially aware, as seems to be the modern American norm. But the truth is that it is only possible to understand what is happening in modern America if we realize that the destruction of private property is proceeding NATIONWIDE now at approximately the same rate as it was happening in Virginia and Georgia during the final year of the War Between the States in 1864-65. Family and local heritage and inheritance are being wiped out, systematically, and with just as much government endorsement and approval as during any war, but without any attempt at justification. I can only guess that the justification has already been written, and so it seems redundant to repeat it now: The Communist Manifesto of 1848, which is about to celebrate its 164th year in print (since 1848) predicted (well, actually, demanded) the centralization of banking and rampant extensions of frivolously predatory credit which have led to the present meltdown. In the 1930s-50s, certain elites decided that if Communism was to be implemented in the United States, it had to be done gradually, stealthily, with the appearance of democratic approval and due process of law. All continuity and “rootedness” in American communities is being subjected to massive disruption and near obliteration—long-term stability and inheritance of local knowledge and traditions is endangered. The world is being “shaked and baked” into dependent homogeneity rather than independent diversity. Individual ownership and family inheritance of real and personal property are being being wiped out in the interests of a destabilized society whose only recourse to survive is to depend upon the “generosity” and “benevolence” of an all-powerful government. I can see no sadder end to civilization.
The official answer to these accusations was articulated recently by a San Diego attorney who is dedicated to the destruction of private property in favor of “corporate-governmental” ownership of property:
“Your letter below serves as an excellent example for why you should consider hiring an attorney who is familiar with the law. I am disinterested in discussing your theory that California Civil Code 2924 is in actuality a communist plot to divest the citizens of California of their right to hold private property. Or that the US Constitution can be construed to permit a person to default on their contractual obligations to pay their mortgage, without any consequence.
Independent Foreclosure Review–Beware
Snapshot of the Newest Program
- The review is not independent
- The servicers are paying the “Independent Consultants”
- The servicers are allowed to release “relevant” information to the “Independent Consultants”
- “Eligibility” has been pre-determined
- Forgery and fraud are not on the list of things to be reviewed
The Current Climate
We have become a nation of displaced people due to fraudulent and wrongful foreclosures conducted by the banks since the Mortgage Meltdown began in 2007. Amherst Securities has testified that 1 out 5 homeowners are likely to lose their homes before this crisis ends. It is estimated that there are at least 62 million securitized loans – loans with lost notes and unclear ownership. These are the people being foreclosed upon by banks that cannot prove legal ownership.
Fraudulent foreclosures have rampantly permeated across all 50 states. The issue is not limited to robo-signing, or clerical errors, or bank ineptitude. The issue is much deeper: Does the bank have the legal right to foreclose? Any foreclosure proceeding must include clear evidence that the bank is the rightful owner of the note, the deed or mortgage, and they have in their possession the original note with original signatures. This is the crux of fraudulent foreclosures in our country today.
Yet, the Government has announced a new “program” to get your foreclosure process reviewed “independently”. The concerns of most homeowner advocacy groups are that this new “independent Foreclosure Review Process is just another bank maneuvered government sham. Their concerns are well justified. It is.
Analysis of the Independent Review Fact Sheet
A Fact Sheet explaining this new “opportunity” for homeowners, which has been put out by the Housing Policy Council, clearly shows this is not an independent review and homeowners should be very cautious of involving themselves in the process. It appears to be yet another diversion orchestrated by the banks & US Government to get people’s attention diverted off the underlying issues of their loan and foreclosure using the time-honored and impartial justice system. Instead, tying them up in a very long bank-controlled review process that is anything but independent.
First, let’s take a look at who the Housing Policy Council is:They are a bunch of bankers dictating to the Government while lining their pockets. They are a subsidiary of the Financial Services Roundtable, which is made up of members who provide mortgages to Americans. They are a strong lobbying force in DC. The Housing Policy Council estimates that 65% of all mortgages in the US are originated by the member firms of the Housing Policy Council. Thus, he who created the foreclosure crisis, then the fraudulent foreclosures, and never once policed himself is in charge of the program to see if he “erred.” How can this be an independent and impartial review?
This is the Opening Paragraph of the “Fact Sheet”:
“Fourteen U.S. mortgage servicers and their affiliates are making available free, impartial independent Foreclosure Reviews to certain of their borrowers . . ”
Our government must think we are really an ignorant lot. The servicers who conducted the fraudulent foreclosures are making available this impartial and independent review. I’m confident by now that anybody who is reviewing this information has safely concluded that there is no impartiality.
But there’s more: “to certain of their borrowers”
It appears that you can be the victim of a fraudulent foreclosure, yet the independent review process is only available to a selected group. That could work if that selected group is anybody who has suffered foreclosure proceedings since 2007 when the meltdown began, but that is not the case:
According to the fact sheet, that qualifying group only comprises those who believe they’ve been financially injured as a result of “servicer errors, misrepresentations or other deficiencies in the foreclosure process of their primary residence.”
Their omission of forgery (robo-signing,) and fraud (securitization which obfuscates who owns the loan and if they really are the owner) is a bit too obviously absent. More disconcerting however is the use of the word eligible mostly because of who is eligible. Are they suggesting that second homes are investment properties were not wrongfully foreclosed upon?
“Borrowers are eligible to submit a Request for Review if 1) their loan was serviced by one of the participating mortgage servicers, 2) their loan was active in the foreclosure process between Jan. 1, 2009 and Dec. 31, 2010, and 3) the property securing the loan was their primary residence.”
Thus, you are eligible if your lender is participating, if it happened during the specified dates and if it was a primary residence. There’s a word for this: It is known as minimizing.
Fraudulent foreclosures didn’t only happen to the eligible group. If the lender is “participating” doesn’t that suggest this activity isn’t independent, and who decided that we only had issues for the past two years? What about the lenders who don’t participate? Let’s face it. If you committed forgery and fraud, participation isn’t a luxury or choice that you have, prosecution and jail time are your fair due. So why do we get to hear about lenders who are participating, like they signed up to be in a special club? That’s not independent.
Also of concern, it’s already been determined by the independent group if you are eligible and they’re going to let those 4.5 million borrowers know by mailing them a letter explaining all this.
For those millions of you who have since moved on: I wonder if they have your new address. What if your mail forwarding has expired?
The independent review is also pre-determining what would constitute a financial injury, again, forgery and fraud are not on the list.
They’re claiming the process “could take up to several months”. Following in the footsteps of HAMP, more realistically, you will be tied up in this for the next several years, while valid statutes that could have served you well in court expire.
And worst of all, they have decided that the “Foreclosure Reviews will be conducted by independent consultants engaged by the servicers and approved by official sounding government entities. That is only part of the problem, however. There’s only one company being used by “all the participating” servicers to manage the incoming complaints.
And the final blow to the word independent comes in the closing paragraph: Once the request for review forms have been collected by this single vendor, the servicer will provide relevant documents to the independent consultant.
It’s clear that this review should be considered with a cynical eye, and wary countenance. Unless you show the fraud and forgery in your loan, don’t think it will get revealed by those ‘independents.’
Consider a full securitization audit to include with your submission if you do choose to do this process, minimally get an investigation for robo-signing. Don’t be duped into thinking once again that the bank and the government are actually going to fix the mess they made of your loan and your life. Your safer route is to pursue your lender in a court of law, after you’ve gotten that audit and now have the evidence of the fraud and forgery committed in your loan. Most likely in successful cases, the compensation approved by a judge will be much greater than what you could expect to see from this ‘program’.
Here’s an excellent article that you should read: Tila Solutions is not the only group expressing concerns over this program. http://www.nytimes.com/2011/12/25/business/foreclosure-relief-dont-hold-your-breath-fair-game.html?_r=2