Posted on 10/04/2010 5:48:18 PM PDT by Orange1998
AG attempts to stop foreclosures The Texas Attorney General's office called for a halt on all foreclosures today amid widespread scrutiny over the way foreclosures are processed nationwide. Notices to suspend foreclosures were sent to 27 loan servicers doing business in Texas, including Bank of America and JPMorgan Chase & Co. The office would not release the list of companies that received notices. The state office also called for a halt on the sales of properties previously foreclosed upon and all evictions of people living in previously foreclosed upon properties. The action is being taken "in an effort to determine the full harm Texas homeowners may have suffered or could suffer as a result of these business practices," including improperly signing documents related to the foreclosure process, according to a statement late today by Jerry Strickland, a spokesman for Attorney General Greg Abbott.
(Excerpt) Read more at blogs.chron.com ...
How many more states will follow?
How about if you don’t pay your mortgage, you get kicked out.
Why is this so hard to grasp?
Makes me wonder why I bothered to pay for my house.
(Not really)
This is totalitarianism. If these people dont pay — get the hell out!! aBBOTT IS JACKASS.
Oh shucks, I keep paying the mortgage and I get to keep the house. Man oh Man this really is great for me, but wait if the mortgage foreclusures are stopped, what about the people whom have not paid on their mortgages for no fault of their own, The economy soured and millions ofjobs were lost. SO Is ThIS The October Surprise to Buy Votes.
Something does not smell right.
And how many more ‘strategic defaults’? If there’s no repercussions to not honoring a contract, why even have them at all? What a nice way to reward bad behavior- again.
The TX AG is “calling” for a stop to all foreclosures. Asking and getting are two different things.
Does the AG have the authority to STOP the banks from foreclosing?
If homeowners in 23 states were getting a pass, homeowners in the other 27 certainly would be treated unfairly if their foreclosures continued. Everyone gets a free house until the election is over...and then it will be too close to the holidays to be the Grinch who stole the kiddies’ homes.
It is a tad complicated as there does seem to be a trifling legal issue reguarding the ownership of these mortages.
The suede shoed sharpies on wall St put them all in a blender and sold them to entities which for their own tax avoidance purposes were legally unable to have title.
Isn’t the law an unpleasant thing?
San Fransisco to ban happy meals. Texas to ban mortgage foreclosures. Obama lashes out at critiques of One Nation Rally trashing of the Washington, D. C., mall. Cover-up claimed regarding 09/11 discoveries... Bankruptcy filings up 11%. Developing countries can sue polluting nations. Company demands town change the name of the Christmas parade., and it does. Congressman Conyers has license suspended after bouncing check. Houston mom is stabbed to death shielding her baby. Abortionist pulls gun on pro-life witnesses. WTO helping China loot Caterpillar.
That Obama, he sure knows how to toss together a cohesive populace doesn’t he...
And all this they call progressive.
Give him time folks. If he can do this in two years, THINK what he can do in four or eight.
Sounds like a good week to be a South Pacific Islander.
Strategic ‘banning’ is the fastest way to communism. Cuz remember, the government knows what’s best for you and is acting on your behalf.
The fact is that the industry that made so many bad loans has been cutting corners (again) and may have a colossal problem.
It's opportunistic to take advantage of these lapses, but laws are laws, the industry knows what they need to do to follow them. Hard to blame the delinquent homeowner if the owner of the mortgage doesn't have their stuff together.
but who has the right to evict?
And don't be fooled. You and I are paying for this.
No one put a gun to these peoples heads to make these loans. Yet the banks are going to take a HUDE hit on this one. If the Company that is (was ) doing these robo forclosures, yes some people who weren’t even behind in payments were getting forclosed on, ABBOTT has a duty to protect the innocent. There is no way in good conscious someone can defend the practice that was going on.
Banks have been caught forging documents for foreclosures. It might be nice to get to the bottom of this before we make snap judgments
Just Counterfeit Documents... No, Really!
http://market-ticker.org/akcs-www?singlepost=2190795
They even had a price list for forged documents. How cool is that?
http://www.scribd.com/doc/38591053/Lender-Processing-Services-DOCX-Document-Fabrication-Price-Sheet
I hear ya. I agree. With all the problem cities and states have these days, San Francisco finds time to re-organize it’s citizens lives for them.
Isn’t that special!
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