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Fraudclosure Fail | D.C. Council Alters Foreclosure Law, Removes Clause Which Said That Any Violation of the Law Would Void a Foreclosure
Money talks and deadbeats walk...
Guess it is okay again to steal homes in D.C.
Gotta love how they spin the title to the article...
D.C. Council alters foreclosure law, adds new consumer rights
The
D.C. Council enacted emergency legislation Tuesday to amend a
controversial clause in its foreclosure mediation law that threatened to
stall the sale of foreclosed affected homes across the city.
The move came just days after The Washington Post reported
that two large title insurers, which account for nearly 80 percent of
the D.C. market share, stopped insuring sales of foreclosed homes
because of concerns over the law.
The District implemented regulations in May requiring lenders to enter
into mediation with a homeowner before foreclosing on a home. But now,
two large title insurers, which have about 80 percent of the D.C. market
share, have stopped insuring the sale of foreclosed properties, saying
the law makes it too risky.
...
During the rule-making process, members of the title industry asked
for a certification asserting that a foreclosure had complied with the
legislation, said Christopher Weaver, the D.C. associate commissioner
for banking. But that would have shifted the liability for any mistakes
to the city, he said.
“I personally think that’s just too much risk for the District of Columbia,” Weaver said.
At issue is one sentence in the council’s legislation: “Each foreclosure sale in violation of this act shall be void.”
The change will make it easier
for buyers of foreclosed homes to obtain loans, because title insurance,
which protects mortgage lenders from challenges to their rights to a
property, is an essential ingredient in the home-buying process. That,
in turn, could help stabilize District prices by speeding the sales of
homes in the foreclosure pipeline.
“The issue is resolved,” said
Roy Kaufmann, a lobbyist for the D.C. Land Title Association, which
includes the two insurers, Fidelity National Title Group and First
American Title Insurance, which withdrew from the foreclosure market.
Fidelity
and First American had argued that the council’s law, which requires
lenders to begin mediation with a homeowner before foreclosing on a
home, was too broad and posed too much risk for them in insuring
foreclosed properties.
To allay their concerns, the council took
out a controversial clause, which said that any violation of the law
would void a foreclosure sale, and replaced it with specific language
endorsed by the D.C. Land Title Association about what constitutes a
violation.
Check out the rest here...
Guess it was to much to ask to the fraudsters to follow the law...
Nice name for the new ammendment...
"Saving D.C. Homes from Foreclosure Amendment Act of 2011"
It almost sounds like they are saving homes...
www.4closureFraud.org
Saving D.C. Homes From Foreclosure Amendment Act of 2011
»
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Rule of Law?
...The institutions of control are cracking and will soon collapse...
When a mortgage gets bifurcated and the note is separated from the deed, the agreement is essentially slaughtered, it's killed and the life has ended.
The individual paying the mortgage did not kill the deal, the financial institution did. The title companies rightfully should be concerned when someone digs through a vault in Belgium and comes up with an unencumbered deed to a home that was given as collateral and tries to collect.
This is just another type of default, no different than what any of the (other) PIIGS would like to do, but much more simply and under the radar.
Complete Collapse: It's Coming...Are You Ready?...
http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/07/collapse-its-...
OT: Hilarious 2 min Vid....
http://www.youtube.com/watch?v=W0Uju3tYS2s
Okay, I'm being somewhat of a devil's advocate here. But I was pretty sure that I'd read that typical law in most states was that if a foreclosure was found to be faulty but sale of a home had already been made to a third party, that the relief to the original homeowner was to be sought from the bank that should not have been allowed to foreclose and not from the return of the home from the presumably innocent third party.
Is it possible that they were trying further codify such a structure or process in DC?
Is it possible that our legislative system is committed to legal enforcement for the benefit of individual citizens vs. mega-business interests?
Sorry, no, not possibly.
Er, as 4CF is demonstrating very acutely it is the Law that is Lawless (anarchy) incarnate
the Law is not there to protect you... it is a monoply authority system, elite controlled, and was never meant to uphold justice but to enforce injustice.
All monopoly systems are easily infiltrated and then corrupted by the parasites of society as 4CF is detailing in his battle with this system of injustice (did you read the article? ..see the goalposts being moved??)
The Law is a sham, the legal system an absolute shambles as it has proved throughut history. You want 'justice' ..have you got $3 million on you? No! Oh you're f**ked then
Thanks Zero. I will now assimilate part of your comment into one of my favorites:
All your life you have been lied to by those that seek to control you.
The Law is not there to protect you.
Act accordingly.
Bastards!
America owes 4closureFraud a HUGE thanks for trying to restore the Rule of Law in this country. Keep it up!
Rule of Law?
There is no law, only bribed politicians who create corrupt legislation for the benefit of a few international bankers and corporations.
It's all bullshit: Law. Money. Time. Government. Religion. Education. The institutions of control are cracking and will soon collapse.
Perhaps the human race can evolve again... someday.