A thorough investigation is needed for the FORECLOSURE FRAUD which is causing people to FALSELY lose ownership of their properties and become evicted; it cheats Investors, and certain mortgage companies. This fraud occurs when debt collector attorneys deliberately file judicial foreclosures under names of defunct mortgage companies, or companies which do not own the promissory notes, effecting illegal seizures. Those collectors charge fees far beyond “Acceleration Clauses,” thereby making it impossible for borrowers to recover their properties or bring current mortgage arrears. Incredibly (through use of another’s identity), the foreclosure “plaintiff” is actually sometimes the disguised collector. SEE: http://chuckgallagher.wordpress.com/2008/01/03/foreclosure-fraud-an-interesting-variation-of-mortgage-fraud-comments-ethics-speaker-chuck-gallagher/.

Collectors make even more $$$ from protracted litigations for “Unfair Debt Collection Practices,” etc. (*Example of foreclosure litigation in: “Super Future Equities v. Wells Fargo Bank, et al.”) Accordingly, people actually HAVE NOT lost ownership of their properties, but those owners don’t know it!! For predatory and deceptive mortgage lenders, foreclosure frauds are bonanzas because it makes possible real estate FLIPPING frauds, and misleads Investors concerning housing markets. SEE:
http://www.lawgrace.org/2008/09/14/lehman-brothers%E2%80%99-mortgage-troubles-nationally-evidence-of-foreclosure-fraud-deception-and-conspiracy-with-wells-fargo-deceptive-judicial-filings/

Foreclosure fraud also enables mortgage companies like Wells Fargo Bank to file with the IRS false 1099-A’s and 1099-C’s and receive unlawful tax write offs and tax credits. SEE:
http://www.lawgrace.org/2008/08/08/my-august-8-2008-statement-to-the-louisiana-secretary-of-state-office-of-financial-institutions-concerning-wells-fargo-irs-and-mortgage-frauds-sham-foreclosures-and-judicial-collusion-and-national-app/. Also, some unscrupulous debt collector attorneys are committing fraud in Bankruptcy Court by filing sham “lift stay” motions via use of movants which lack STANDING. For irrefutable proof and extensive details about real estate fraud, visit: http://www.lawgrace.org.

Barbara Ann Jackson
Law & Grace, Inc.

This should be much more publicized, especially before the election, although it’s too late to let the chips fall where they may. The world has already been bailed out.

Watch the student loan fiasco fall as the next domino…

As long as people continue to push social agendas without regard to secondary effects, get ready to what Yogi Berra referred to as “deja vu all over again!”

And lastly, in the immortal words of philosopher George Santayana: “Those who don’t learn the mistakes of history are bound to repeat them!”

I don’t think fraud at the bottom of the process is receiving the attention it should. Everyone right now is a lot more obsessed with the Dow and Wall Street and the Fed–it’s sexier and makes for better news copy. But I think mortgage and foreclosure fraud are beginning to become more of an issue. I read this Sunday that the FBI has requested more money for mortgage fraud investigations multiple times over the past four years and been turned down by the Bush administration–since 9/11 the bulk of their budget has gone to foreign counterintelligence work and terrorism, leaving them woefully understaffed right when this kind of fraud is off the charts.

There’s no question in my mind that these issues need to be addressed but I don’t expect much in the way of action until after the election. I’m astonished though by the prevalence of this problem and by how many people are just getting away with it while we focus instead on the intelligence or moral weakness of individuals who were sold bad ARMs.

Thanks for taking the time to comment. Your thoughts and opinions are welcome and appreciated.

Nice blog!