Post by Her3tiK on Dec 24, 2011 12:28:04 GMT -5
www.huffingtonpost.com/2011/12/22/federal-prosecutors-mortgages_n_1164866.html
This is getting so tiring. The government isn't on our side anymore, and it doesn't seem like there's even any effort to pretend otherwise for those of us who watch something besides cable news. It seems like, now that our rights are practically gone, they're coming after our property, and soon there won't be anything left for those of us at the bottom of the ladder.
The U.S. Treasury confirmed in November that it is conducting a civil investigation of 4,500 such foreclosures. Attorneys representing service members estimate banks have foreclosed on up to 30,000 military personnel in potential violation of the law.
In Alabama, a federal bankruptcy judge ruled last month that Wells Fargo & Co. had filed at least 630 sworn affidavits containing false "facts," including claims that homeowners were in arrears for amounts not yet due.
Wells Fargo "took the law into its own hands" and disregarded laws banning perjury, Judge Margaret A. Mahoney declared.
And in thousands of cases, documents required to transfer ownership of mortgages have been falsified. Lacking originals needed to foreclose, mortgage servicers drew up new ones, falsely signed by their own staff as employees of the original lenders - many of which no longer exist.
In Alabama, a federal bankruptcy judge ruled last month that Wells Fargo & Co. had filed at least 630 sworn affidavits containing false "facts," including claims that homeowners were in arrears for amounts not yet due.
Wells Fargo "took the law into its own hands" and disregarded laws banning perjury, Judge Margaret A. Mahoney declared.
And in thousands of cases, documents required to transfer ownership of mortgages have been falsified. Lacking originals needed to foreclose, mortgage servicers drew up new ones, falsely signed by their own staff as employees of the original lenders - many of which no longer exist.
Justice Department and Federal Bureau of Investigation officials say they have brought mortgage-fraud criminal cases through their "Operation Stolen Dreams." None, however, were against big banks. All targeted small-scale operators who allegedly defrauded banks with forged mortgage applications or took advantage of homeowners by falsely promising arrangements to get them out of default and then pocketing their money.
This is getting so tiring. The government isn't on our side anymore, and it doesn't seem like there's even any effort to pretend otherwise for those of us who watch something besides cable news. It seems like, now that our rights are practically gone, they're coming after our property, and soon there won't be anything left for those of us at the bottom of the ladder.
