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An Article
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Please Investigate the Foreclosure Fraud by Judge David Fais, Citimortgage and Steven L. Sacks
December 15, 2007
By
Wendy Clardy
(View author info)
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Foreclosure fraud has too long been a well-concealed real estate racketeering crime, particularly involving FREDDIE MAC and WELLS FARGO. Here are more irrefutable facts on the foreclosure fraud subject for which I pray that Congress will see the need to fully investigate the nuances of this "ENRON"-type social scourge:
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Representations to Wall Street Investors by FREDDIE MAC or by WELLS FARGO that its $$$ billion dollar losses due to people defaulting on their mortgages should be weighed against the fact that Freddie Mac and Wells Fargo needlessly pays DEBT COLLECTION firms outrageous legal fees for corporate lawyers to outmaneuver -and even persecute people who file court proceedings in opposition to fraudulent foreclosures. In Louisiana, Wells Fargo and FREDDIE MAC are 2 mortgage companies which benefit from fraudulent foreclosures and entrenched real estate and mortgage fraud racketeering schemes. Also, in lawsuits for "Unfair Debt Collection" damages, collectors get to make more $$ via litigation, along with co-conspirators who enjoy pieces of the foreclosure pie. But thanks to federal authorities such as U.S. Attorney Jim Letten and U.S. Attorney David Dugas, real estate racketeers in Louisiana have nothing to worry about.
http://www.lawgrace.org/2007/12/08/my-december-7-2007-comment-posted-to-the-times-picayune-blog-about-the-news-article-entitled-%e2%80%9cjudge-gets-debt-reprieve-badeaux-has-skipped-mortgage-payments%e2%80%9d-the-foreclosure-of-this-lo/
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*Also, at NEWSBLAZE.COM, see: "Mortgage Mess, Foreclosure Fraud and Impediments to Justice:"
Most critical to the Foreclosure Crisis is FORECLOSURE FRAUD, which enables MORTGAGE LENDERS to ILLEGALLY FLIP properties. In Louisiana, 2 particular mortgage companies which benefit from fraudulent foreclosures are Wells Fargo and FREDDIE MAC! It is HIGHLY COMMON for a DEBT COLLECTOR attorney to file a foreclosure: (i) in the name of a DEFUNCT mortgage company;(ii) in the name of a mortgage company which is NO LONGER holder of the security interest (the promissory note); or (iii) file a foreclosure and AFFIX a "ransom" amount (the collector's fee) far exceeding what the promissory note "Acceleration Clause" authorizes.
Despite a property owner's entitlement to Challenge CONTRARY-TO-LAW loss of his / her home, most property owners LACK consumer and legal knowledge; the Court System is REFRACTORY; and there are limited attorneys with acumen to pursue Consumer Law. Also, when borrowers sue for "Unfair Debt Collection Practices," damages, the collector gets to make more $$ through prolonged litigation, as co-conspirators enjoy the foreclosure pie.
Investors need to become more astute about how mortgage servicers' misdeeds hurts borrowers as well as siphons incalculable amounts of money from what Investors should reap. (See "Limiting Abuse and Opportunism By Mortgage Servicers," AND "Private Property Rights Deferred: Has Predatory Mortgage Servicing Destroyed The American Dream" by Rawle Andrews, Jr., Esq.,and Leroy Jones, Jr., J.D. Visit: http://www.msfraud.org/index.html.)
http://newsblaze.com/story/20071203130614tsop.nb/newsblaze/TOPSTORY/Top-Stories.
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**also see:
"ILLEGAL REAL ESTATE FLIPPING..."
http://www.lawgrace.org/2007/06/21/illegal-real-estate-flipping-unfair-enrichment-etc/
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Barbara Ann Jackson
Law & Grace, Inc.
www.lawgrace.org
LOUISIANA
Posted Dec 19 2007 4:33AM CET
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Barbara Ann Jackson(www.lawgrace.org)
, Louisiana |
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• View Comments • Post Comments
Posted Dec 16 2007 8:53PM CET
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Username withheld
, California |
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