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The Crisis Is Over: Bank Of America Is Set To Begin Foreclosures Again
Business Insider ^ | 10/18/10

Posted on 10/18/2010 1:41:10 PM PDT by earlJam

The Crisis Is Over: Bank Of America Is Set To Begin Foreclosures Again

Joe Weisenthal | Oct. 18, 2010, 3:27 PM | 1,658 |

Bank of America says it plans to start re-submitting foreclosures in 23 states next week, and that all in all the foreclosure-gate stuff will affect about 30,000 mortgages. A spokesperson told WSJ that it had not found a single case of a foreclosure without justification, which is key.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Breaking News; News/Current Events
KEYWORDS: boa; fannie; fdic; foreclosure; foreclosuregate; freddie; jpmorgan; mers; remics; robosignergate; tarp; tarp2
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1 posted on 10/18/2010 1:41:13 PM PDT by earlJam
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To: Chunga85

ping


2 posted on 10/18/2010 1:42:39 PM PDT by earlJam
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To: earlJam

Hahahaha! They’re trying to claim they reviewd all their foreclosures in progress since this story broke?! And they think someone believes this?!


3 posted on 10/18/2010 1:43:52 PM PDT by 2ndDivisionVet (Every decent man is ashamed of the government he lives under. ~Mencken)
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To: earlJam
Justification is one issue, but that wasn't the one of greatest concern to the title insurance companies. They wanted assurance there'd be no recourse after a sale ~ and BAC couldn't provide that.

Be interesting to see if they get caught doing more shortcuts.

4 posted on 10/18/2010 1:44:14 PM PDT by muawiyah ("GIT OUT THE WAY" The Republicans are coming)
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To: 2ndDivisionVet

They hired Robo-Reviewers.


5 posted on 10/18/2010 1:45:02 PM PDT by earlJam
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To: earlJam

For all the money that the Banks received in bailouts, every debt in the nation should be removed from the books.


6 posted on 10/18/2010 1:48:34 PM PDT by fortheDeclaration (When the wicked beareth rule, the people mourn (Pr.29:2))
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To: earlJam

Let’s start by evicting the current tenants of 1600 Pennsylvania Avenue!


7 posted on 10/18/2010 1:51:33 PM PDT by RonDog
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To: earlJam

I purchased Bank Of America shares this morning at $12.10. It closed at $12.34. I’ll sell it in the $16 range or so I think.


8 posted on 10/18/2010 1:53:14 PM PDT by domenad (In all things, in all ways, at all times, let honor guide me.)
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To: earlJam

I somehow doubted that this was the big deal it was being touted to be.

I am willing to bet that less than 1% of those who have been faithfully paying their mortgage would be foreclosed on and if it accidentally happened, it would not be difficult to prove that the mortgages were being paid regularly.


9 posted on 10/18/2010 1:53:14 PM PDT by WebFocus
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To: earlJam; NVDave; stephenjohnbanker; M. Espinola; blam; Quix; 2ndDivisionVet; Lorianne; ...
BOA might be jumping the "gun"! (Pun intended)

Smoking Loans Prove Wall Street Committed Fraud

Warning: link below contains a video laced with profanity.

Foreclosure Fraud H.R. 3808

10 posted on 10/18/2010 1:54:30 PM PDT by Chunga85 ("Foreclosure Fraud", TARP, "Mortgage Crisis", Bailout)
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To: earlJam

Illegals or laid-off teachers?


11 posted on 10/18/2010 1:56:15 PM PDT by 2ndDivisionVet (Every decent man is ashamed of the government he lives under. ~Mencken)
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To: domenad
I hope you are correct! I got in at $14.99 The good news is my Apple stock is more than making up for what I am down on BAC. I wish had bought more AAPl instead of loading up on BAC!
12 posted on 10/18/2010 1:57:31 PM PDT by martinidon (It's The Spending Stupid)
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To: RonDog
"Let’s start by evicting the current tenants of 1600 Pennsylvania Avenue!"

Well let's start foreclosure on it.
It is OURS.
It is occupied by an illegal alien, or at the very least someone who refuses to show his paperwork.

Let's get going on it! ! ! ! ! ! !

13 posted on 10/18/2010 1:58:52 PM PDT by DeaconRed (I am selling my Gold and buying Lead.)
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To: 2ndDivisionVet
'The Crisis Is Over: Bank Of America Is Set To Begin Foreclosures Again'

=

Sorry Folks, The Put-Back Apocalypse Ain't Gonna Happen

“The Financial Modernization and Stability Act of 2010”, etc.

14 posted on 10/18/2010 2:00:12 PM PDT by Palter (If voting made any difference they wouldn't let us do it. ~ Mark Twain)
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To: WebFocus

It interests me that civil law has become an entirely one sided thing. The homeowner(deadbeat) must observe legalities but the banks can do anything they like. If the foreclosure has been illegal then it must be reversed, it is that simple. In turn if the home buyer has committed fraud like the banks appear to routinely do, then he must be punished.


15 posted on 10/18/2010 2:01:03 PM PDT by Hans
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To: WebFocus
it would not be difficult to prove that the mortgages were being paid regularly

The issue is whether Bank of America owns the titles, not if the mortgages are delinquent. No way could they have traced ownership of over 70,000 titles in the past few days.

"Jill Furtado, president of the Greater Antelope Valley Association of Realtors (GAVAR) said they are not only concerned that homeowners/borrowers were contacted appropriately by the banks to discuss options for them to avoid foreclosure, but, in fact, for these banks to verify that they actually owned the mortgages they foreclosed on."

http://www.sfvbj.com/news/2010/oct/18/realtors-feel-impact-foreclosure-moratorium/

16 posted on 10/18/2010 2:04:46 PM PDT by abbyg55
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To: earlJam

Well, dang - I was hoping I could stop paying mine.


17 posted on 10/18/2010 2:06:32 PM PDT by nina0113
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To: earlJam
They've been notified that the Holder "Justice" Dept. will be too busy harassing returning servicemen and women to prosecute any title fraud cases from now on.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

18 posted on 10/18/2010 2:07:42 PM PDT by The Comedian (They Live. We Sleep.)
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To: Hans

“.....but the banks can do anything they like.”

Because they are now an arm of the federal government controlled by maniacal control freak marxists.

Barney Frank and Chris Dodd are now the CEO’s of the big banks that took bailout money.


19 posted on 10/18/2010 2:08:36 PM PDT by Texas resident (Outlaw fisherman)
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To: Hans
The homeowner(deadbeat) must observe legalities but the banks can do anything they like.

These facts clearly demonstrate that "public servants" actually serve the banking interest before the public.

20 posted on 10/18/2010 2:08:50 PM PDT by mas cerveza por favor
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