FBI Mortgage Fraud Crackdown

More than 400 real estate industry players have been indicted since March - including dozens over the last two days - in a Justice Department crackdown on incidents of mortgage fraud nationwide. Bob Orr reports.

Category:

News & Politics

Tags:

• fbi
• mortgage
• fraud
• justice
• department

[Yotraj]

The scam goes on. The Mortgage Companies that we all believed in, they're still getting away with it all. Where's the Justice Dept? Where's the Courts? Where's the Govt. help? I'll tell ya where, out boating on the money they stole for us.

[IdunCareLesSn00b]

They have houses worth $30,000?LOL

[kenfo0]

@rewire69 Ok, you are back to some sense. Yes, do not ignore your hearing dates. For one thing, check to see if your state allows you to simply ask for a 30-60-90 day continuance. Also, the mortgage company may not be prepared on that day! You might hit the lottery, you might be able to get more info to help you. There is NO reason a court should rush to judgment in what is to the banks a trivial matter, but to the home owner a LIFE ALTERING problem. Say that to them. Best wishes.

[kenfo0]

@rewire69 HAHAHAHA. At first, I thought you were serious. Now it seems you are retarded.  People who have enough money to hire lawyers (tens of thousands) would simply be paying their mortgages! DUH. My "question" was a call to people to think about our "legal system" in which the only people who get "justice" are people with deep pockets, in most cases. When faced with foreclosure, most people have NO money and the govt gives NO information about what you may ask/do in a proceeding.

[rewire69]

@kenfo0 .One thing people need to know is.No matter how bad it seems and how pointless it feels.Go to the court dates that are sent to you DO NOT IGNORE THEM AT ALL!.In most states just showing up can get you an extra 10 months.If you make them work and show proof of right to foreclose.that can get ya more time and use that time to save money.also use that time to learn how to file papers in court.Its not as hard as it seems and ways to learn now to do it.These response boxes are to small..lol

[rewire69]

@kenfo0 The people who are in foreclosure and havent had to pay rent in 6 months to a year can use that money to cover legal fees.that settles a big chunk of the issue on most cases.People get hooked on that extra money and use it to buy new televisions and things they didnt need.I and seen it first hand.But

Some lawyers will do it and collect settlement from the bank.I do mortgage securitization audit and see lawyers doing work and as part of winning the lawyers have the banks pay the fees.

[kenfo0]

@rewire69 Ok, thx. The question is, where does one get help? It is easy to talk about the law, but those facing foreclosure don't have money to go to court. Therein lies the problem with what this nation has become....a country where "justice" is bought if one has the right mix of money and influence. Agree with the underlying issue or not, think about the Berg lawsuit over Obama's citizenship, in which SCOTUS claims a US citizen "does not have standing" to file suit?????? Outrageous.

[rewire69]

I wasnt repeating what you said.I was applying your comment to the law you were talking about.And that law is PARTICEPS CRIMINIS, and that is the law that backs up your whole theory.I sort of threw my two cents in to help back you though.So I kid of did repeat a lil.But it wasnt my internetion.I am an auditor so illegal securitization or illegal foreclosure is what I help people with.I know a lot more then the others But its a serious crime against America now matter how ya spell it out

[kenfo0]

@rewire69 er....i already said that. your last statement is completely unclear, however. A mortgage is objectively fraudulent? Hardly. The fraud occurred when the banks committed illegal actions that directly and indirectly resulted in massive layoffs/lack of job creation. They should not be allowed to profit from this. They lie and say the avg person hasn't paid 18months before foreclosure. FALSE (i can explain why). They are taking houses with equity just as fast as possible.

[rewire69]

@kenfo0: Particeps Criminis: States one participant in an unlawful activity cannot recover in a civil action against another participant in the activity. (Black's Law Dictionary (7th ed.)) It also creates an all or nothing dilemma for the courts. Either enforce the law and equity, or else allow and encourage the fraud to continue. The fact remains that these merely apparent mortgages are objectively fraudulent on their face, they are void and unenforceable on that basis.

[kenfo0]

Lastly: most states, and i think there are fed statutes as well, have laws against profiting from your crime. Banks committed a fraud that broke the economy. People can't pay their mortgages, so the banks steal their homes (even when they don't hold the title...a second crime). They are benefiting from their crimes. You don't care as long as it's not you, and the govt is fascist (govt + big money working against avg citizen), so by it's very nature they are unconcerned. "Freedom", huh?

[kenfo0]

Let me help you: Banks caused the relatively recent economic crash by committing fraud (we know this is true, because they are haggling over the fine they will PAY THE GOVT!!!!, not those harmed by the act.). They were then ILLEGALLY given tax dollars to bail them out. Because they broke the economy, people can't pay their mortgages, so the bank (who will not negotiate one...little....bit) steals (they created the nature of the inability to pay) peoples' homes while crying poor. Hang them all.