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Prices of these homes may be lower than others for sale nearby, and that may pique your interest. When a home is up for short sale, the seller is working with a lender. This could be because the seller is facing a hardship or owes more on the mortgage than the home is worth. With foreclosure, the lender owns the home and Missing: casino.:Chase REO Properties, Frequently Asked nguyensan.meg: casino. With foreclosed homes and many homes currently listed for sale in Michigan, nguyensan.me has Michigan Homes. For sale. For rent. For you. 2 bed, 1 bath, sq. ft. house located at W Chase Ave, El Cajon, CA sold for $ on Nov 1, Comparable nearby homes include Dennstedt Pl, Hawthorne Ave, and W Chase E. Based on size, layout, and other factors, Tendril estimates that this home spends $94 per month on energy.
Jose and Ricardo Ponce are selling homes, chasing dreams, seeing the possibilities in San Bernardino. Today, two of the region's biggest employers, the San Manuel Casino and Patton State Hospital — a fenced corral for the criminally insane — are in the business of false hope and incurable disease.:FDIC seized WaMu's assets worth $ billion and gave them to JPMorgan Chase for under $2 billion. Now Chase wants to steal our homes. Fight back. nguyensan.me® has homes for sale and other property listings for Arbor Chase, Ballwin, Missouri. Find the right property for you right now! Find homes for sale and real estate in Fox Chase, KY at nguyensan.me®. Search and filter Fox Chase homes by price, beds, baths and property type.
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A to receive moving quotes from up to four 4 companies as may be selected by Moving. I understand that I am not required to provide this consent as a condition of purchasing any property, goods, or services. We did not find listings for: Please visit our International Site for listings outside the United States. There are 3 active homes for sale in the Arbor Chase neighborhood, which spend an average of days on the market.
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Find assisted living, nursing homes, and senior communities. Search apartment rentals with original content from local experts. My Home Get quick and easy access to your home value, neighborhood activity and financial possibilites. Saved Homes Click the to save properties. Saved Searches Click Follow Search to get alerts on new listings. Home Buying Tips Tour de Force: Landlord Tools List Your Rental. Is This Your Home? Talk to Michael About Selling.
Gustavo Torres Berkshire Hathaway. Talk to Gustavo About Selling. Melissa and John Steele Realty National. Talk to This Agent About Selling. Estimate based on these recent sales. This square foot house sits on a 0 square foot lot and features 2 bedrooms and 1 bathroom. The closest grocery stores are North park produce, Leo's Market and Suri.
Style Single Family Residential. County San Diego County. Home facts updated by county records on Oct 14, Unit Information of Units: Bathroom Information of Baths Total: Bedroom Information of Bedrooms: Exterior Information Framework Structure Material: Without it, some pages won't work properly.
When a home is up for short sale, the seller is working with a lender. This could be because the seller is facing a hardship or owes more on the mortgage than the home is worth. With foreclosure, the lender owns the home and no one is living in it. Buying a home in short sale or foreclosure is similar to buying a traditional home, but there are differences:. Once an agreement is in place, the standard sale and closing process will occur.
If you want to buy a short sale or foreclosed home, make sure you have money to cover all closing costs and for any immediate repairs. Chase's website terms, privacy and security policies don't apply to the site you're about to visit.
This could be because the seller is facing a hardship or owes more on the mortgage than the home is worth. With foreclosure, the lender owns the home and no one is living in it. Buying a home in short sale or foreclosure is similar to buying a traditional home, but there are differences:. Once an agreement is in place, the standard sale and closing process will occur.
If you want to buy a short sale or foreclosed home, make sure you have money to cover all closing costs and for any immediate repairs. Chase's website terms, privacy and security policies don't apply to the site you're about to visit. Please review its website terms, privacy and security policies to see how they apply to you. Chase isn't responsible for and doesn't provide any products, services or content at this third-party site, except for products and services that explicitly carry the Chase name.
Skip to main content Please update your browser soon. Begin Site Message Content. Chase offers a broad range of financial services including personal banking, small business lending, mortgages, credit cards, auto financing and investment advice.
Chase logo links to Chase. Submit to Search Clear Search. Short sale and foreclosed homes. Pursuing short sales video Opens Overlay Close overlay mortgage-find-home-short-sale Transcript Turn on audio description Turn off audio description.
Pursuing short sales Consider these pros and cons when pursuing a short sale. How much home can you afford?
For the best experience, please enable cookies when using our site. From Studio 1 2 3 4 5. Reset Filters Reset More Filters. Search Radius in Miles 0 1 2 5 10 Home Size Any No Min sqft sqft 1, sqft 1, sqft 1, sqft 1, sqft 2, sqft 2, sqft 2, sqft 2, sqft 3, sqft 3, sqft 3, sqft 3, sqft 4, sqft 5, sqft 7, sqft. No Max sqft 1, sqft 1, sqft 1, sqft 1, sqft 2, sqft 2, sqft 2, sqft 2, sqft 3, sqft 3, sqft 3, sqft 3, sqft 4, sqft 5, sqft 7, sqft 10, sqft. Lot Size Any No Min 2, sqft 3, sqft 4, sqft 5, sqft 7, sqft 0.
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Stories Any Any Single Multi. Community Amenities Pool s. Kentucky Bullitt County Fox Chase. Brokered by Amp Realty. View details Contact Agent Contacted. Brokered by Alice Daugherty. Brokered by Sandlin Llc. Brokered by The Real Estate Marketplace. Brokered by Bang Realty, Inc. Brokered by Century 21 Advantage Plus.
Brokered by Henderson Realty Service Llc. Brokered by Keller Williams Highlands. Found matching properties. Fox Chase, KY Homes with special features. There is a concrete pad beside the garage that used to be enclosed and used as a dog kennel. Full bath and laundry is on first floor including a spacious Bedroom. Exceptional custom wet bar with refrigerator ,, dishwasher, custom shelving included.
The first floor master suite has a lush en suite bath, 2 closets and bay window. Enter the leaded glass front door into 2-story foyer leading to an open plan family room with cathedral ceiling. Dream kitchen with stainless steel appliances , pantry, custom pot rack and plate rack.
Finished downstairs has acid-stained concrete floors, recreation room, kitchenette with solid oak counter tops , wine cooler, work-out room, workshop area, full bath and bedroom. The large kitchen has plenty of custom made oak cabinets and a windowed breakfast area with a solid wood plank ceiling.
Walk through the leaded glass entry door into the vaulted entry way with fanlight window and chandelier that opens into the breathtaking great room, that is wired for your surround sound, with hip trey ceiling, solid poplar wood moldings, and a gas fireplace.
It has a large beautifully landscaped lot, with crown molding, custom made oak cabinets and ceiling fans throughout, plus a 1 year home warranty.
This split bedroom floorplan features a master suite with trey ceiling , crown molding, master bath with oversized jetted tub and walk-in shower, and large walk-in closet separate from the 2 additional bedrooms and full bath. Other features and highlights are as follows: Basement has another family area with fireplace and also has an office room with windows. Huge deck off upper level , lower level is a walk-out to a finished patio, beautiful landscaping and in ground pool.
Foyer is large with hardwood flooring and opens to the beautiful vaulted great room with double ceiling fans. There are two other bedrooms with an ample amount of closet space on the other side of the main level of the home and a full bath.
There is an attached lower entry level garage , as well as a large detached garage. The great room has a vaulted ceiling and a gas fireplace with beautiful stone that extends up to the ceiling.
Kitchen has white cabinetry , breakfast bar and a dining area with a pantry. Large living room with vaulted ceiling and stone fireplace that stretches 2 stories up. Master bath features a large garden tub , stand up shower, custom, vanity, and tiled floors. Finished walk out basement with living room, kitchenette, office, full bath, and an unfinished area for storage. Upstairs you will find the inviting master suite which has a large master bathroom with whirlpool tub , separate shower, double bowl sinks and a large closet!
The first floor hosts a vaulted great room with corner stone fireplace , eat in kitchen with custom cabinets, eating or serving bar, built in planning desk, pantrydining room with built in cabinets, three first floor bedrooms, two full baths, and plenty of closets. The master bedroom has a great variety of custom cabinets , and built in furniture, fireplace and the master bath has more storage that you can imagine. The finished lower level is a walk out onto two decks, has another stone fireplace, wet bar, family room, half bath, office with plenty of built in cabinets, laundry, and more storage.
Gustavo Torres Berkshire Hathaway. Talk to Gustavo About Selling. Melissa and John Steele Realty National. Talk to This Agent About Selling. Estimate based on these recent sales.
This square foot house sits on a 0 square foot lot and features 2 bedrooms and 1 bathroom. The closest grocery stores are North park produce, Leo's Market and Suri. Style Single Family Residential. County San Diego County.
Home facts updated by county records on Oct 14, Unit Information of Units: Bathroom Information of Baths Total: Bedroom Information of Bedrooms: Exterior Information Framework Structure Material: Lot Information Primary Lot Number: Property Information Property Legal Description: For completeness, Redfin often displays two records for one sale: Activity for W Chase Ave.
Schools Serving This Home. Public — K to 5 — Serves this home. Public — 6 to 8 — Serves this home. Public — 9 to 12 — Serves this home. School data provided by GreatSchools. School service boundaries are intended to be used as reference only. Much has been made in recent months of the government's glaring failure to police Wall Street; to date, federal and state prosecutors have yet to put a single senior Wall Street executive behind bars for any of the many well-documented crimes related to the financial crisis.
Indeed, Flynn's accusations dovetail with a recent series of damaging critiques of the SEC made by reporters, watchdog groups and members of Congress, all of which seem to indicate that top federal regulators spend more time lunching, schmoozing and job-interviewing with Wall Street crooks than they do catching them.
As one former SEC staffer describes it, the agency is now filled with so many Wall Street hotshots from oft-investigated banks that it has been "infected with the Goldman mindset from within.
The destruction of records by the SEC, as outlined by Flynn, is something far more than an administrative accident or bureaucratic fuck-up. It's a symptom of the agency's terminal brain damage. Somewhere along the line, those at the SEC responsible for policing America's banks fell and hit their head on a big pile of Wall Street's money - a blow from which the agency has never recovered. If these charges are true, the agency needs to explain why it destroyed documents, how many documents it destroyed over what time frame and to what extent its actions were consistent with the law.
Chief Executive Officer Jamie Dimon said clashes over faulty mortgages may drag on as investors and regulators demand compensation for soured loans issued at the peak of the housing market.
And everybody is going to sue everybody else, and it's going to go on for a long time. How can anybody not like Jamie Dimon? He shows the resilience and common sense of a captain who can weather the storm. While millions of families are being thrown out on the streets, lawyers working for the banks are making billions! Maybe all that money will trickle down as the lawyers buy cocktails, and golf clubs, and thousand-dollar suits.
If you or I try to boot a homeowner into the street without any proof that we're entitled to the property, the cops will lock us up. Stealing is stealing, whether it is somebody's wallet or their 3-bedroom 2-bath in the suburbs with two dogs and a kid. When a bank tries to steal the bungalow without proof that they have a right to foreclose, it's a "hurdle" or "another roadblock.
Semantics aside, this is good news for all people holding grant deeds. In some cases, borrowers are showing courts that banks failed to properly assign ownership of mortgages after they were pooled into mortgage-backed securities. In other cases, borrowers say that lenders backdated or fabricated documents to fix those errors. In March, an Alabama court said J. The mortgage assignment showed that the loan hadn't been transferred to the trust from the subprime lender that originated it.
This WSJ story represents a seismic shift in the foreclosure meltdown. Judges read The Wall Street Journal.
So does Jamie Dimon. Anatomy of a Financial Collapse. Thus, while much of the Levin report describes past history, the Goldman section describes an ongoing crime - a powerful, well-connected firm, with the ear of the president and the Treasury, that appears to have conquered the entire regulatory structure and stands now on the precipice of officially getting away with one of the biggest financial crimes in history.
Instead of announcing a recall, it surged ahead with a two-fold plan to make a fortune: Goldman Sachs " May 11, Goldman Sachs was President Obama's number-one private campaign contributor.
Bush appointed him to his Cabinet. Paulson then put Edward M. Daley headed Chase's Corporate Responsibility division, which included oversight of the firm's lobbyists and relations with government officials. With Wall Street lobbyists patrolling the Oval Office, we rest assured that the President is in good company. The Wall Street Journal reported that U. The orders issued on Wednesday, April 13, , to 14 financial institutions didn't include fines.
Officials said they are coming. Thursday, February 9, , may one day be memorialized as the day everything changed, as with the Magna Charta and the Declaration of Independence. Let the festivities begin. Under the orders, banks have 60 days to establish plans to clean up their mortgage-servicing processes to prevent documentation errors. The orders also direct banks to take steps to ensure they have enough staff to handle the flood of foreclosures, that foreclosures don't happen when a borrower is receiving a loan modification, and that borrowers have a single point of contact throughout the loan-modification and foreclosure process.
Banks must hire an independent consultant to conduct a "look back" of all foreclosure proceedings from and to evaluate whether they improperly foreclosed on any homeowners and require each company to establish its own process to consider whether to compensate borrowers who have been harmed.
The OCC, which has been the target of most criticism, defended the enforcement orders. Acting Comptroller of the Currency John Walsh said, "The banks are going to have to do substantial work, bear substantial expense to fix the problems that we identified" as well as to identify and compensate homeowners that suffered financial harm.
It is the latest effort to cobble together a broken system with duct tape. Fewer than 2 million trial modifications were started in the first two years of the program, and fewer than , converted to permanent modifications.
You be the judge whether they will stop the abuse. Better yet, ask your trial judge to take judicial notice of the consent order.
Meanwhile, the soaring U. National Debt below is now half a trillion dollars greater than the combined assets of the nation's thirty largest banks based on figures provided by InfoPlease. How much of that debt was assumed to bail out the banks? So Americans pay more to the bankers than to all of those departments combined. Since , the U. The New York Times reported on Aug. Forecasts predict that China will surpass the United States as the world's biggest economy in twenty years - and America's interest payments to China will put China on top.
Just nine months ago, it was going to take years, so the U. We're only years old as a country. We may be a deadbeat nation, but since the U.
They can't touch US with a ten-foot pole. Senator Carl Levin, chair of the Senate's Permanent Subcommittee on Investigations, releasing the findings of a two-year inquiry yesterday, said he wants the Justice Department and the Securities and Exchange Commission to examine whether Goldman Sachs violated the law by misleading clients who bought collateralized debt obligations without knowing the firm would benefit if they fell in value.
The Michigan Democrat also said federal prosecutors should review whether to bring perjury charges against Goldman Sachs Chief Executive Officer Lloyd Blankfein and other current and former employees who testified in Congress last year. Levin said they denied under oath that Goldman Sachs took a financial position against the mortgage market solely for its own profit, statements the senator said were untrue. Washington Mutual - which became the largest failed bank in U. The report said a runaway mortgage securitization machine churned out abusive loans, toxic securities, and big fees for lenders and Wall Street.
It cited internal emails by Wall Street executives that described mortgage-backed securities underlying many collateralized debt obligations, or CDOs, as "crap" and "pigs. It said Washington Mutual - which became the largest failed bank in U.
In the case of one CDO, Hudson Mezzanine Funding , Goldman Sachs told investors its interests were "aligned" with theirs while the firm held percent of the short side, according to the report. The New York Times reported on April 8, , that the New York attorney general has issued subpoenas against the state's largest foreclosure law firm. Representing JPMorgan Chase, Wells Fargo, and other large banks, the Steven Baum law firm has handled an estimated 40 percent of foreclosure cases in the state.
The firm employs approximately 70 lawyers. Judges in courts across New York state have rejected scores of cases filed by the Baum firm, saying it has failed to provide the documentation necessary to commence foreclosure.
The firm might do better in California, where judges routinely dismiss lawsuits filed by homeowners without requiring that the foreclosing banks produce anything but a Trustee's Deed Upon Sale. In California, as in many states, "non judicial" means "no judge.
Fifty thousand families on the street is by no means a record for bare-fisted law firms. Florida attorney David J. Stern prosecuted 70, foreclosures in with a staff of 1, Stern purchased a foot yacht, The Misunderstood, as his fortunes rose. Stern is now under investigation by the Florida Attorney General, and he stopped repossessing houses in March. Stern sent letters to the chief judges of Florida's 20 circuit courts announcing that he intended to violate court rules and dump , foreclosure cases without a judge's order.
The Sun-Sentinel reported on April 4, , that judges throughout Florida are increasingly dismissing cases and accusing lawyers of "fraud upon the court.
A Palm Beach Post review of cases in state and appellate courts found judges are routinely dismissing cases for questionable paperwork. Although in most cases the bank is allowed to refile the case with the appropriate documents, in a growing number of cases judges are awarding homeowners their homes free and clear after finding fraud upon the court.
She called Marc A. She then gave the homeowner the home - free and clear - and barred the lender from refiling the foreclosure. Fannie Mae fired the Ben-Ezra law firm in February and then sued the firm on February 11 to recover 15, foreclosure case files, according to Courthouse News. JPMorgan Chase fired the Ben-Ezra law firm on March 8, , and then sued them to recover thousands of foreclosure case files, promissory notes, and mortgages that Chase alleges are being held hostage by its former foreclosure attorneys to collect outstanding legal bills.
Much of the fraudulent paperwork was manufactured by the banks. So the banks are providing paperwork to their lawyers and then suing the lawyers to get their felonious files back while the lawyers take the fall for the banks. The cases are being reported by the press in stories that fail to mention the names of the banks.
The judges shoot the messengers, putting law firms out of business, and tap the banksters on the wrist. Wading through a tsunami of foreclosures, how well does it punish the bank to lose one house in foreclosure when banks are foreclosing on 12 million homes?
Could all of this be happening because bankers broke the system when they went off the deep end and caused the mortgage meltdown? When will judges look for the cause of the calamity?
How many illegal foreclosures put families in the streets because judges were too busy managing their caseload to read the files. After he ordered that hundreds of Scud missles be launched into Libya, Barack Obama issued an executive order freezing Libyan assets and barring Americans from having business dealings with Libyan banks.
A week later, Timothy Geithner, Secretary of the U. Treasury Department, issued an order exempting Libyan-owned banks so that they could continue operating without sanction.
Senator Bernie Sanders of Vermont sponsored an amendment to the Dodd-Frank bill forcing the Federal Reserve to open its books for the first time and make public the names of individuals and corporations who received emergency loans and bailout monies during the two year period between the crash of and the passage of the Dodd-Frank bill.
How does it feel to be sued by the U. The complaint alleges that Killinger, Rotella, and Schneider caused WaMu "to take extreme and historically unprecedented risks with WaMu's home loans portfolio.
They focused on short term gains to increase their own compensation, with reckless disregard for WaMu's longer term safety and soundness. Linda Killinger and Esther Rotella were accused of receiving millions of dollars of property from their husbands with intent to defraud creditors while the largest bank failure in history was underway and lawsuits were piling up.
On the day the lawsuit was filed, Killinger released a prepared statement describing the lawsuit as "baseless and unworthy of the government. The factual allegations are fiction. The legal conclusions are political theater. Trial in a courtroom that honors the rule of law - and not the will of Washington, D.
Second, they had unfettered access to the books, records, accounts, committee minutes, and personnel of the Bank. They roamed freely and paid particular attention to the quality of the assets - i. Had the benefits extended to Wall Street institutions within weeks of the seizure - e. More than anything, I am angered that my wife and children may be subjected to the public attention this lawsuit may generate, even if it is for a short period of time.
And, of course, I am angered that my good name, built over a career of three decades, is at risk as a result of this callous action. So, it was the government's fault that WaMu failed because: This wasn't something that came out unexpectedly when the Summons and Complaint were served.
Having collected hundreds of millions in salary and bonuses, the defendants have worked out a strategy - it wasn't our fault. While Wall Street bankers snorted cocaine and frolicked with hookers see the Academy Award winning documentary, "Inside Job" California was hit with an economic tsunami of one trillion dollars, according to " Home Wreckers ," a report released on March 16, Judges in California still insist that banks can foreclose on homes without producing any papers to show they own the mortgage.
The courts may still be operating in the Dark Ages, but not for long. Chase is defending more than 10, legal proceedings, the bank revealed in its K filing with the Securities and Exchange Commission on February 28, The suits include common law tort and contract claims, statutory antitrust claims, securities claims and consumer protection claims, the bank reported.
If Houdini could conjure one lawyer to represent all the plaintiffs in each case and persuade all the lawyers to attend one humongous settlement conference, here's how the line would look on the courthouse lawn:. Chase reported, "In view of the inherent difficulty of predicting the outcome of legal proceedings, particularly where the claimants seek very large or indeterminate damages, or where the matters present novel legal theories, involve a large number of parties or are in early stages of discovery, the Firm cannot state with confidence what the eventual outcome of the currently pending matters will be, what the timing of the ultimate resolution of these pending matters will be or what the eventual loss, fines, penalties or impact related to each pending matter may be.
The FDIC sent letters to several former executives of Washington Mutual warning that it was considering taking legal action tied to their role in the collapse of WaMu. Former president and chief operating officer Steve Rotella and David Schneider, former president of the failed bank's home-loan division, also received the letters. The FDIC has filed civil lawsuits against former directors and officers at hundreds of banks that were closed during the financial crisis.
Deleware Bankruptcy Judge Mary Walrath refused to confirm WaMu's reorganization plan in January, finding that the protections from future legal liabilities the plan granted to the company's directors, officers and professionals were either unwarranted or too broad.
Not a single executive who ran the companies that cooked up and cashed in on the phony financial boom - an industrywide scam that involved the mass sale of mismarked, fraudulent mortgage-backed securities - has ever been convicted.
Their names by now are familiar to even the most casual Middle American news consumer: Most of these firms were directly involved in elaborate fraud and theft. The shocking pattern of nonenforcement with regard to Wall Street is so deeply ingrained in Washington that it raises a profound and difficult question about the very nature of our society: The SEC and the Justice Department have evolved into a bizarre species of social surgeon serving this nonjailable class, expert not at administering punishment and justice, but at finding and removing criminal responsibility from the bodies of the accused.
The systematic lack of regulation has left even the country's top regulators frustrated. Lynn Turner, a former chief accountant for the SEC, laughs darkly at the idea that the criminal justice system is broken when it comes to Wall Street. Over and over, even the most obvious cases of fraud and insider dealing got gummed up in the works, and high-ranking executives were almost never prosecuted for their crimes.
Virtually every one of the major players on Wall Street was similarly embroiled in scandal, yet their executives skated off into the sunset, uncharged and unfined.
In a similar case, a sales executive at the German powerhouse Deutsche Bank got off on charges of insider trading; its general counsel at the time of the questionable deals, Robert Khuzami, now serves as director of enforcement for the SEC.
As for President Obama, what is there to be said? Goldman Sachs was his number-one private campaign contributor. The mental stumbling block, for most Americans, is that financial crimes don't feel real; you don't see the culprits waving guns in liquor stores or dragging coeds into bushes. But these frauds are worse than common robberies. They're crimes of intellectual choice, made by people who are already rich and who have every conceivable social advantage, acting on a simple, cynical calculation: Let's steal whatever we can, then dare the victims to find the juice to reclaim their money through a captive bureaucracy.
They're attacking the very definition of property - which, after all, depends in part on a legal system that defends everyone's claims of ownership equally.
When that definition becomes tenuous or conditional - when the state simply gives up on the notion of justice - this whole American Dream thing recedes even further from reality.
Some employees of Florida's largest "foreclosure mill" were given jewelry, cars and houses in exchange for altering and forging key documents used to obtain foreclosures, according to a statement released in October by the Florida Attorney General's Office and reported in the Tampa Tribune. The office released transcripts of interviews it conducted for its investigation into the law offices of David J. They painted a picture of a secret system designed to speed up the foreclosure process.
Attorneys and staff members forged signatures, changed dates, passed around notary stamps. The office would move forward with cases even if they knew the homeowner had not been properly notified of the lawsuit.
Two former Sterns employees described long tables where employees would sign as a witness and notarize documents without actually witnessing the signing. Twice a day, the company's chief operating officer, Cheryl Samons, would go into the office and sign documents at a time - without reading them.
As a perk of Samons' job, Stern's office would routinely pay her personal mortgage, a car payment, her electric bills and her cell phone bill, according to Samons' legal assistant, who told investigators Stern also bought Samons a new BMW sport utility vehicle every year and gave her and other employees jewelry. Additionally, Stern purchased employee David Vargas a house, a car and a cell phone.
After the economy crashed in the fall of , Florida, along with Nevada, Arizona and California, became foreclosure central. Stern's caseload rose from 15, foreclosures in to 70, in His staff tripled to more than 1, To keep up with demand, Stern set up offices in the Philippines. The firm moved into a plush, marble-floored headquarters near Miami that was all glass and fountains. In October, the megabanks started to withdraw their cases from Stern's firm. Fannie fired Stern on Oct.
Stern's staff of 1, has dwindled to The firm's fall has spawned more chaos in Florida's circus-like foreclosure courts. Recently, even the most infamous "rocket docket," in Lee County, where judges were reported to have signed off on a foreclosure every 30 seconds, ground to a virtual standstill as the Stern firm withdrew from case after case.
Some of Stern's remaining lawyers show up court with greasy hair, fleece jackets and food-stained clothing. As for Stern, if federal and state prosecutors file criminal charges, he could end up in prison. So is the rent on his headquarters. He's now in default. The explosion is almost deafening.
Bank of America, the nation's largest bank, put foreclosures in 23 states on hold in order to review whether "certain affidavits have followed the correct procedures," the company said. The bank was the third major lender to freeze foreclosures in those states due to flawed paperwork. Morgan and Ally Financial had announced similar measures.
A Bank of America official acknowledged in a legal proceeding that she signed up to 8, foreclosure documents a month and typically didn't read them. The Bank of America executive said in a February deposition in a Massachusetts bankruptcy case that she signed 7, to 8, foreclosure documents a month. The official admitted to these acts of perjury in testimony under oath in February. Chase admitted the same thing in May. GMAC confessed in June. Why did the big banks wait until October to take action?
What high level executives were aware of the perjury and conspired to keep it under wraps? Millions of felonies committed by banks went unreported for five to ten months. Apparently alarmed about such a possibility, one of the major title insurance companies, Old Republic National Title, has sent a bulletin to agents saying that "until further notice" it would not insure title to properties foreclosed upon by GMAC Mortgage, the country's fourth-largest home lender and one of the two big lenders at the center of the current controversy.
Other lenders said Thursday, September 30, that their foreclosure filings, including the crucial affidavits, had been properly done. A Citigroup spokesman said the lender required "annual training for our foreclosure employees on the proper execution of affidavits, including having personal knowledge of the information in the affidavit.
A Wells Fargo spokeswoman said "the affidavits we sign are accurate. It can't be done that way. The plaintiff in the case is Fannie Mae, the mortgage holding company that failed during the financial crisis and is now under government conservatorship. The judge in the case set aside his summary judgment in favor of Fannie when he read Mr.
The case will go to trial. Law enforcement officials in several states, including Texas, Maryland and Connecticut, are demanding a suspension of foreclosures until lenders can prove they are using legal methods. While homeowners in those states and elsewhere must usually show damages to win a lawsuit, "attorneys general can just sue over deceptive sales practices and get penalties," said Christopher Peterson, a University of Utah law professor who specializes in commercial and contract law, reported by Bloomberg.
North Carolina Attorney General Roy Cooper said today he was expanding his investigation into questionable foreclosure tactics to include 14 more lenders. Cooper, who announced earlier he was looking into allegations about GMAC, also asked lenders to stop foreclosures in his state until they can confirm they are complying with laws.
Abbott also asked lenders and servicers to halt "all sales of properties previously foreclosed upon" and stop all evictions. Lenders took possession of a record 95, U. Lenders, loan servicers and even title insurance companies are facing litigation on multiple fronts, said Peter Henning, a law professor at Wayne State University in Detroit and a former federal prosecutor who worked on cases involving bank fraud.
You don't even know the parameters of this yet. Reviews of affidavits and other loan documents that may have been signed without personal examination by the signers should be completed in a few weeks, JPMorgan and Bank of America said last week. So perjury is okay so long as the facts turn out to be true. That's a new twist to an old legal concept. Homeowners in multiple lawsuits claim lenders have been using falsified documents to foreclose on homes, at times when they don't even hold titles to the properties.
Individuals who signed false affidavits or falsely claimed clear titles to properties can be subject to criminal prosecution, including perjury charges, Peterson said. Any action of any employee can be looked at, but what they're looking at is the volume of transactions and the involvement of senior level management. The Center for Responsible Lending reports that California and the United States are in the midst of the worst foreclosure crisis since the Great Depression.
Across the country, foreclosures have hit an all-time high, with nearly one in ten homes with a mortgage currently in some stage of foreclosure.
The Center posted a report in August , " Dreams Deferred ," that paints a picture of the foreclosure crisis in California, examines the who, the where and the why of foreclosures in the Golden State and discusses what we should do to prevent as many avoidable foreclosures as possible. The median size of a foreclosed home in California is 1, square feet, with two-thirds 67 percent of these homes having three or fewer bedrooms.
The Center proposes the following steps be taken to prevent foreclosures: Require servicers to complete the review of any loan modification application before beginning the foreclosure process or referring the loan file to a foreclosure attorney. Incorporate principal reduction into loan modification programs, especially where housing prices have contributed to lack of affordability. Lift the ban on the modification of principal residence mortgages by bankruptcy judges.
Expand funding and capacity of housing counseling agencies and legal aid providers. Then two advocacy groups - the Los Angeles-based Alliance of Californians for Community Empowerment and the Greenlining Institute of Berkeley - called for a foreclosure moratorium. Both groups called on Brown to support a moratorium. On Friday, October 8, Bank of America announced that it was placing a moratorium on all foreclosures across the U.
Too good to be true? A week later, on the Santa Barbara Courthouse steps, Bank of America was especially active in foreclosure sales. Meanwhile, Jerry Brown joined a coalition of state attorneys general from all 50 states and dozens of state banking regulators in a multi-state effort to demand that lenders find solutions to serious and potentially widespread problems in the foreclosure process across the country.
In a unprecedented show of force, the states moved in to fill a void caused by years of inaction at the federal level. The bottom-up response to an economic crisis caused by federally regulated banks doesn't seem to embarrass the Obama administration as it continues to urge banks to foreclose as quickly as possible.
The Federal Housing Finance Agency stressed that foreclosures on delinquent homeowners "should proceed without delay. Delays in foreclosures add cost and other burdens for communities, investors and taxpayers," said the agency, which regulates seized mortgage financing giants Fannie Mae and Freddie Mac. The Los Angeles Times reported on October 14, "As all 50 states escalate efforts to quell a rising tide of foreclosures, one prominent figure is resisting calls for the federal government to do more: Banks seized , homes in September, a record for any month, RealtyTrac reported Wednesday.
California led the nation with 17,, the Irvine company said. Even so, top White House officials worry that imposing a national moratorium on foreclosures would backfire by driving down prices even more.
The unraveling of the foreclosure spectacle continued as JPMorgan Chase announced on September 29 that it was halting 56, foreclosures.
Following the footsteps of Ally Financial aka GMAC , Chase acknowledged that employees had signed foreclosure documents without reviewing them and without personal knowledge that the facts recited were true.
The New York Times reported the story. In May, a Chase employee testified in a deposition that her team had signed affidavits in 18, foreclosures a month without checking to see if the facts they swore to under oath were true.
Now that the all-time record for perjury has been reported in Bloomberg , after Chase kept it under wraps for four months, Beth Ann Cottrell has taken the place of Jeffrey Stephan, a document processor for Ally Financial, as the worst bankster in the world. Stephan made headlines last week when it was reported that he had signed off on 10, foreclosures per month without reading them.
He was known by consumer advocates as the "super robot signer. The Washington Post reported on October 1 that a top federal bank regulator has directed seven of the nation's largest lenders to review their foreclosure processes after learning about the widespread mishandling of homeowner evictions by the industry.
The banks contacted by regulators include J. Bank, and Wells Fargo. John Walsh, acting director of the Office of the Comptroller of the Currency, told lawmakers during a hearing on Thursday, September 30, , "We both want to see that they fix the processing problems but also to look to see whether there is specific harm in individual cases.
Morgan's case, the bank "determined that its affidavit procedures were non-compliant with foreclosure processing requirements in some states. Referring to a front-page article in the Washington Post, Dodd called the news about lenders initiating improper foreclosures "very troubling. Bernanke - to comment on the matter. Bair, whose agency insures deposits at thousands of U.
Review your foreclosure papers carefully if the bank is trying to steal your home. How many "troubling" affidavits or declarations did that company representative sign without personal knowledge?
The purpose of such documents is to commit the signator to swear under penalty of perjury that the facts recited are true. We've all heard about perjury.
It's how they impeached Bill Clinton. It's how they locked up Alger Hiss. In nonjudicial states like California, judges tend to look the other way. They're much too busy playing golf or granting probation to snorting movie stars to concern themselves with people losing their homes. Brown's letter to Ally and press release left no doubt that California statutes cannot be trampled by hyperactive banks frothing at the mouth with unbridled greed.
Chase will be next on Brown's list. The tide is turning. The fallout will burn through the entire mortgage servicing industry. The speakers were experts in mortgage and foreclosure law. The speakers were not offering strategies or solutions. They didn't even sound like lawyers. Then it hit me. The banks must have broken the system! The speakers sounded like shell-shocked casualties wandering through the smoldering ruins of the World Banking System searching for clues.
This is a collection of stories and news reports about how the biggest banks committed systemic fraud on the American people, robbed them of their savings, and collected a trillion dollars from the U. Treasury under the disguise of insurance payments. Fifteen million American families face losing their homes to banks while the banksters pay themselves billions in bonuses and post record profits. Dick Fuld took home over half a billion dollars while he steered Lehman Bros.
Kerry Killinger walked out of the smoldering ruins of Washington Mutual with over a hundred million. Will they retreat behind their walls to tally their latest plunder, or will they trade their mansions and hideaways for a different set of walls, giving new meaning to Wall Street? Why have none of the finance czars been fired or imprisoned for demolishing the global economy? By contrast, in the previous 6-year period, from January 1, to December 31, , there were 1, Notices of Trustee's Sale.
So Santa Barbara has suffered a twelve-fold increase in trustee's sales. Meanwhile, California has 30, homes in foreclosure. Fifty thousand people have lost their homes in Santa Barbara in the past six years.
Why isn't any local newspaper reporting this story? That's over 6 million people who expect to be escorted from their homes by armed people in uniforms.
The only thing that's missing from this picture is the goose-step. Banks shouldn't mess with Margaret Carswell. She borrowed money from WaMu, made all her payments on time. Then Chase started sending her letters that said, "Give me the money. WaMu is becoming Chase. Chase said, "Give me all your money.
Chase said, "Give me your house. Does Chase have a single document to show who owns the loan, who is entitled to the money, or even who holds the promissory note? Then they were bundled and sent somewhere else to be notarized. We're talking jail time, and a lot of people can look forward to big damages in addition to getting their homes back. Here is a copy of the article by Ariana Eunjung Cha: Florida's Streamlined Foreclosure Process.
Today's NY Times reports on Florida's new judicial bullet train that speeds up the foreclosure process by establishing a special court system staffed by retired judges.
Twenty percent of Florida's mortgages are delinquent or in foreclosure. The article features the elusive David Stern, whose law firm in Plantation, Florida, employs more than people. The firm filed 70, foreclosure cases last year.
Here are some of the findings:. An estimated 40, homeowners across a seven-county region spanning the South Bay, East Bay and the San Francisco metro area were at least three months behind on their mortgages but not yet in foreclosure as of April , according to CoreLogic, which tracks mortgage performance data.
It could take years," said Sam Khater, an economist with CoreLogic, which tracks mortgage performance. Kenneth Rosen, chair of the Fisher Center for Real Estate and Urban Economics at UC Berkeley, said banks and the government "are being quite rational" in stretching out the foreclosure process to avoid displacing homeowners and depressing prices.
He estimated that fewer than 15 percent of Bay Area mortgage-holders who are 90 days overdue will get foreclosed on. Foreclosure is certainly taking longer than it used to.
According to figures from ForeclosureRadar, for the California homes that were foreclosed on in June, it took an average of days from the notice of default to the time the property was foreclosed. That's nearly eight months on average - meaning some homeowners stay in their homes much longer. In January , the average time to foreclose was a little more than four months. In June, mortgage financing company Fannie Mae said, "But we will punish those strategic defaulters by prohibiting them from getting a Fannie-backed loan for seven years after their foreclosure, instead of the typical five.
A mortgage is a non-recourse loan, Fannie, you floozy. The borrower has a contractual right to walk away under the written agreement with the lender. So where does Fannie Mae , a private corporation, find the audacity to threaten homeowners who choose to exercise their contractual rights? It behooves each of us, as we wander through the wasteland of a broken system, to set our sights on the abolition of tyranny and the restoration of honor in America. In fact, why not call Fannie right now at and give 'em a holler and a royal hoot in the but!
The Center for Responsible Lending reports that 6. Federal and state judges keep shoveling homeowners into the streets. Have they volunteered as firemen on the runaway trains that are hurtling the United States towards an abyss? The engineers are the bankers who report record profits while the nation sinks. The LA Times reported on July 22 that banks stepped up their repossession of California homes in the second quarter.
The number of trustee's deeds - the last stage of foreclosure - increased 4. A total of 47, California houses were sold on the courthouse steps April - June, and almost all those sales were to the banks. Federal Reserve Chariman Ben Bernanke said the economic outlook was "unusually uncertain This is the worst labor market since the Great Depression.
Record profits for banks. Record foreclosures and unemployment. Things are heating up in the American Dream. The suit Coakley brought against Morgan Stanley alleges that the company provided money for retail loan outlets to target low-income borrowers and lure them into accepting loans they could not afford. The bundling of the riskiest type of mortgages into securities turned the U. The New York Times reported, "the Goldman settlement - both its size and its legal implications - brought a palpable sense of relief on Wall Street.
After two months of strident claims and equally strident denials, the matter was finally settled, and for a price Goldman could easily afford. The penalty amounted to about 15 days of profits. You might feel the pinch, but it wouldn't slow you down.
But wait - the Goldman will pay the U. He can't afford to go straight. California Attorney General Edmund G. Brown, issued a press release cautioning homeowners to avoid forensic loan audits, branding them phony foreclosure-relief.
Responding to those letters is your best bet for saving your house. What ended up happening was so extreme that it was beyond anything we had planned for. Angelides, former California treasurer, said to Goldman President Gary Cohn on July 1, "It's pretty clear that you helped build the bomb.
The New York Times reported on June 27, , that Dylan Ratigan, a financial news reporter, had transformed himself into an outspoken opponent of too-big-to-fail banks and the politicians whom he calls their servants. In the recent fight over financial reform, he lent a megaphone to people who wanted an end to "too big to fail," and he called on viewers to lobby the Senators in his imaginary Bankster Party.
All this from a man who, until recently, hosted a stock-picking show on CNBC, the cable personification of Wall Street. Ratigan, who labels himself a taxpayer advocate, rails against the "vampire" banks who "have assumed control of our government. Ratigan said in an interview last week. The American people are being held hostage by a banking system that acts like a government subsidized casino. There are early signs that viewers are responding favorably to Mr.
Basis Capital paints a picture of a deliberate scheme by Goldman Sachs since early to offload toxic securities linked to US subprime mortgages. It also alleges moves by the investment bank to make large bets against the securities at the same time it was reassuring clients the securities were sound. The same week Basis and Goldman were closing a deal to buy two slices of the billion dollar security called Timberwolf, a senior sales executive at the Goldman sent an email to a colleague describing the instrument as "one shitty deal".
Timberwolf was a collateralised debt obligation holding pieces of other CDOs that were ultimately backed by US subprime mortgage bonds. Within five months of its debut, Timberwolf had lost 80 per cent of its value and was liquidated in Their lawsuit was filed on June 8 in Manhattan federal court.
There is a sense here that these attacks are being made because BP is British. If you compare the damage inflicted on the economies of the Western world by polluted securities from the irresponsible, unchecked greed and avarice of leading USA international banks, there has not been the same personalised response in or from countries beyond the US. Perhaps a case of double standards? Napier was referring to a remark the President made after an interviewer asked him whether this wasn't a time to "kick some butt" rather than be calm and collected.
A month ago, I was meeting with fishermen down there, standing in the rain talking about what a potential crisis this could be. And I don't sit around just talking to experts because this is a college seminar. We talk to these folks because they potentially had the best answers, so I know whose ass to kick.
So, you know, this is not theater. Great Britain and Australia are two of America's closest allies. With friends like that, who needs enemies? His administration remains populated by Wall Street insiders.
We need to know the facts to solve a problem, and they're deliberately leaving in place the people who caused the problem. We hear about companies that promise to bring class action lawsuits against the banks.
Once they're in a class action, the banks cannot foreclose against you. I wouldn't place too much faith in class action lawsuits against banks. The courts have been throwing out class actions in this arena. See page 27 of the California Court of Appeals decision in Mabry v. Aurora published June 2, It would be rare for a court to stop multiple foreclosures based on a class action complaint, and the order would probably be reversed within days, if not hours.
If an advocacy group hired one of the top law firms in the country and it was prepared to assign several dozen lawyers to the case, then you might take it seriously. Otherwise, it would be a futile effort. Almost thirty years ago, seventy insurance companies were sued by Johns Manville in The Coordinated Asbestos Litigation. Early in the case, JM announced that it was producing 10 million relevant documents at a warehouse in Colorado.
There were 72 corporations in that case, and each of them produced a mountain of documents in the same month. A lawyer couldn't just throw up his hands and say, "No way, Dude! That was the good old days. Congress created the Financial Crisis Inquiry Commission in and gave it the mission to examine the causes of the financial meltdown. The Commission sent many requests for documents to Goldman Sachs, and complained when The Goldman delayed providing documents.
On May 18, it produced five terabytes of records - which the commission estimates to be the equivalent of about three billion pages. What would a couple of lawyers in a small firm do with three billion documents in a class action lawsuit?
Goldman is just one bank. A grassroots approach with many simultaneous lawsuits stands a better chance of changing the corrupt practices that broke the financial system in the past decade. The banks can't be in ten thousand courtrooms at once. We hope you find the information on ChaseChase to be helpful. The above house in Montecito was scheduled to be sold on the Santa Barbara courthouse steps on June 3, , according to a Notice of Trustee's Sale published by California Reconveyance Co.
What are the chances that Chase could actually prove that it has any legitimate right to sell the property? What are the odds that WaMu followed any conventional underwriting practices when it made the loan? An estimated total of 15,, houses will have been sold in foreclosure sales in the United States by the end of as the result of the insatiable greed that infected Wall Street during the past decade. It is up to the people to stop the domicide.
Securitization received a significant stress test, and not only failed miserably, but also helped drag down much of the world's economy with its failure. The current recession is, to a surprising extent, caused by the effects of securitization itself. While other factors also played a role in the meltdown, subprime securitization may represent one of the greatest structurally-caused financial implosions of the modern world.
In essence, subprime securitization acted like a virus that infected the entire American financial industry and affected much of the world. This is more ammunition for trial judges to take judicial notice of the fact that WaMu went crazy and broke the bank.
When WaMu made a mortgage loan, they didn't expect that the borrower would be able to pay it back. WaMu underwriting policies and practices made what were already inherently high-risk products even riskier.
For example, WaMu originated a significant number of loans as "stated income" loans. Stated income loans, sometimes referred to as "low-doc" loans, allow borrowers to simply write in their income on the loan application without providing any supporting documentation. Approximately 90 percent of all of WaMu's home equity loans, 73 percent of Option ARMs, and 50 percent of subprime loans were "stated income" loans. WaMu also originated loans with high loan-to-value ratios.
Specifically, WaMu held a significant percentage of loans where the loan amount exceeded 80 percent of the underlying property. For example, WaMu's financial statements showed that 44 percent of subprime loans, 35 percent of home equity loans, and 6 percent of Option ARMs were originated for total loan amounts in excess of 80 percent of the value of the underlying property.
PMI protects lenders against the loss on default when the loan amount exceeds 80 percent of the home's value. WaMu's review of appraisals establishing the value of single family homes did not always follow standard residential appraisal methods because WaMu allowed a homeowner's estimate of the value of the home to be included on the form sent from WaMu to third-party appraisers, thereby biasing the appraiser's evaluation.
Finally, WaMu did not provide adequate oversight of third-party brokers who were compensated for originating most of WaMu's mortgages but were not WaMu employees.
In , WaMu had only 14 WaMu employees overseeing more than 34, third-party brokers. Although WaMu used scorecards to evaluate its third-party brokers, the scorecards did not measure the rate of significant underwriting and documentation deficiencies attributable to individual brokers. These matters are under further review by law enforcement agencies.
So WaMu dispensed with underwriting, discarded traditional principles of debt to equity ratios, and disposed of any oversight function to keep track of its 34, independent loan brokers.
The Office of Thrift Supervision looked the other way. And now our leaders in Washington and on Wall Street are coaxing trial judges across the country to pass the buck to the 15 million households who are being thrown out into the street. I had lunch with Scott the other day. Scott is a broker who helped me buy my house 18 years ago. We're all feeling the pinch. Scott suggested why so few homeowners in default are hearing from the junior lien holders.
Let's say you took out an equity line of credit secured by a second mortgage or deed of trust, and it was not purchase money to buy the home. If the first forecloses and pays the second nothing, or only a fraction of what is owed, the second can collect the unpaid balance from the borrower. Let's say they have four years to sue under state law. If the second puts pressure on the debtor Who's falling behind on the first, the debtor is more likely to file for bankruptcy to discharge What's on second, but if the second bides their time while the debtor works things out with Who's on first and resumes making payments, there may be a knock at the door as the four-year limit approaches.
A debtor who is getting back on their feet will be less likely to file for bankruptcy and tarnish their credit, and most homeowners expect that things will get better in four years. Few have any idea Why they haven't been pestered with calls from What's on second. I just read through the whole site. I am in awe. You are amassing a serious amount of excellent and relevant information. Your writing and description of this information is outstanding. If the bank is trying to take your house, the bills are piling up, your friends are shaking their heads, and the neighbors never invite you over for drinks anymore, just remember, it could be a lot worse.
You could be Yitzchak Tessler. Bloomberg reported on April 29, , that Lehman Brothers sued the Israeli developer to foreclose on his vacant story building at Broadway and 5th Avenue in New York City.
Lehman Brothers went bankrupt in September Somebody must have forgotten to tell the lawyers. So when you're feeling a little down, just repeat after me: It was the fourth hearing chaired by Sen. Carl Levin into the financial crisis, and the role of investment banks was the focus.
The committee focused on a deal that sounded like a Wall St. Within five months, the CDO lost 80 percent of its value, the Bear Stearns hedge fund collapsed, and the AAA-rated securities were downgraded to junk status. A Goldman trader who managed the deal accurately predicted that the day Timberwolf was issued would be "a day that will live in infamy. Levin immediately preceeding Blankfein's testimony. Blankfein answered questions for three hours.
From the reading of these emails Although a tone of indignation filled the room, this hearing was not good news for homeowners in distress.
Other than fleeting references to the plight of people losing their homes, little was said about the wholesale fraud perpetrated on the American people, who were tricked into signing over their homes in exchange for "liar's loans" and "crap loans" which were bundled into "junk," toxic synthetic collateralized debt obligations CDOs sold to investment funds in "shitty deals" in which Goldman Sachs and other Wall Street syndicates bet against their clients - the quotes are all from emails in Goldman files.
You don't kick 15 million families out on the street and fix it with a little twist here and a little turn there in the regulations for bankers while they pay themselves billions of dollars in bonuses as a reward for their crime orgy at the same time they accept billions in taxpayer bailouts.
That's too many people on the street. That's too much money lining the pockets of the crooks. Banks are stealing millions of homes after risking no money of their own. Maybe the walls on Wall Street need to come tumbling down so that crooked politicians who are bankrolled by the bankers can finally see that they must answer to the people, not to America's Most Wanted:. After scolding Blankfein, Levin read his closing statement haltingly, promising amendments to Senator Dodd's financial reform bill that would limit two bank practices: Levin has said the panel will decide after the hearings whether to make a formal referral to the Justice Department for possible criminal prosecution.
No help for homeowners was explored at the hearing, and it seemed that nothing was learned.
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