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Fraudclosure Update | JPMorgan, GMAC Urge New Jersey Court Not to Suspend Home Foreclosures
JPMorgan, GMAC Urge New Jersey Court Not to Suspend Home Foreclosures
Bank of
America Corp., JPMorgan Chase & Co. and other U.S. banks told a New
Jersey court that defects in their processes for seizing homes in the
state can be remedied without halting foreclosures.
The
banks have taken steps to improve their procedures, making a suspension
unnecessary, they said in documents filed yesterday in state court in
Trenton, New Jersey, and made public today. The filings came in response
to a proposal to freeze foreclosures in the state by six U.S. banks
while their procedures are reviewed.
The
banks’ practices came under scrutiny after bank employees signed court
documents in foreclosure cases without reviewing their accuracy,
according to court papers.
“Bank of
America fully appreciates the court’s concerns and looks forward to
working with the court to address them,” the Charlotte, North
Carolina-based company said. “The court should not take the steps
outlined in the order because they are unnecessary and will cause a
wholesale delay in administering foreclosure cases that is not in the
public interest.”
You can check out the rest here...
Links to documents filed...
- January 5, 2011 BOA-BAC Home Response
- January 5, 2011 GMAC-Ally Responsive Pleading
- January 5, 2011 JPMorgan Chase Response
- January 5, 2011 Wells Fargo Response
- January 5, 2011 Citibank-Citi Res Notice of Appearance
- January 5, 2011 Citibank-Citi Residential Response
- January 5, 2011 MTN AD PR HC VC - Brooks-OneWest
- January 5, 2011 MTN AD PR HC VC - McKeen-OneWest
- January 5, 2011 MTN AD PR HC VC - McKeon-JP Morgan
- January 5, 2011 OneWest Bank Response
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Hey, Guido's my fucking cousin, asshole. You got something to say to Guido, how about you man up and say it in person, punk.
This foreclosure thing is gonna be a dogfight and have an impact.
I'm sure it'll be settled fair and square by Judge Guido in NJ.
"...The banks have taken steps to improve their procedures..."
yeah they have taken steps to improve their fraud, scare, and lying procedures. these criminal companies should be executed.
From Wikipedia:
He must be spinning in his grave now.
That's what we should do, go back to conducting business and establishing trust with nothing more than a handshake. Can you imagine!
That's how I usually do it.
Which is why I'm currently on the hook for $25K from a self-made multi-millionaire who bought some property from me in installments last year. Money flowed for half a year, then dried up. Yeah business is tough for him right now, but he DID offer his personal guarantee.
You either have to trust people to (eventually) pay up or just not do small deals. It's not efficient to sue anybody for $25K, and it makes more sense (so far) to let this one come up with it as soon as he can.
I'm sure he will. But it's due right now, and right now is when SILVER is in a nice dip. I'm trying to remember that we're all honorable people. But the opportunity cost is really hurting me here.
Wasn't there a time where people in a business community thrived or shriveled from their reputation?
I guess that was before air travel. Or maybe before train travel. Or maybe before carriage travel. Or maybe it was just the story line in some damned Jimmy Stewart movies I watched when I was little and impressionable.
you're not alone, if you can believe alan greenspan (a stretch, i know). he didn't believe the financial sector's managers would so quickly sacrifice the long term reputation and viability of their organizations for the managers' own short term bonuses, until they did. oh well, too soon (very) old and too late wise.
Pal, just to offer a clue, "self-liquidating assets." Can't lose.
You'll have to google my name and dig somewhat deeper if you haven't already caught the drift.
Partee on!
It is hardly surprising that the 'common' interest always aligns with corporate interests. Yet in a serious discussion I am positive I could get any top corporate executive to say the 'common' interest cannot be defined or known.
For the free market ideology only proposes that the common interest is served by the 'market', the market if ideas, politics, money, whatever, is best served when said interests compete. There are many people and many interests Mr. Dimon et. al. whose interests do not align with yours. It borders on sickning that these claims from the powerful always claim to serve the common interest when in fact they are seeking only their own interest.
Of course large corporations and other institutions interests dwarf those of individuals and the system is alinged to theirs. It's their system, we just serve them. They are correct in a sense as well. America the most powerful and richest nation in the world would not be so much of either without institutions exerting their power. You cannot have a small 'd' democracy with all that crap about the primacy of individuals, and an empire.
I WANT TO SEE YOU SMILE AGAIN
THE DAY THE BANKS COLLAPSE
ZEE HORDES OF VIGALANTEES
THE DAY THE BANKS COLLAPSE
ON US
What's the difference between making payments on a 350K note at 5% on a structure currently valued at <150K and making payments on a 150K note tied to the same structure at a Volker / market induced interest rate?
I suspect it would be in the same ballpark.
However, the differences may be the size of mortgage deduction allowed to the homebuyer / taxpayer, (possibly much higher and therefore less taxes paid, not in the gov'ts "interest"), and with the current note, a higher likelihood of default thereby allowing the deed of trust to remain in the vault of a TBTF CB crony making the BIS happy as a pig in slop.
I think this will be a hard sell and I doubt justice has a chance on this one.
I wish it were otherwise Neo, I surely do.
i found this song on youtube by a band i never heard of, but it's an original music video about bank of america. i think it's a really good video, if you agree, maybe some of you can link it all over the place and can help it go viral. the song is called taken away (bank of america song).
http://www.youtube.com/watch?v=CXDYHrBBfoM
"The banks have taken steps to improve their procedures..."
As proof they brought forth notarized statements from St. Thomas Aquinas, Ghandi, The Dali Lama, and John Nash praising the banksters procedural reforms.
Why in the HELL aren't WE, the American people hanging these mother fuckers up by their balls!? Of course, maybe looking back, they don't have any balls!
Soon, very soon, there will be Barrett .50 cals pointed at ll these pricks if the judges don't do their jobs and enforce the fucking laws. The "little people" have to follow the laws, and "small businesses" that take risks that can end their businesses are not backstopped. WHY THE HELL SHOULD BANKS???
This charade is so over, except for the buring of the bodies.
"Remember those three lookers on the grassy knoll? They were buried out by Terlingua."
"How do you know that?"
"Still got the shovel!"
The PTB had better get this through their fucking little skulls, PAYBACK IS COMING. If Judges are going to "throw their's in with this lot", they will go as well.
If there are no laws, there are no laws. Equal Protection. It is simple math 300,000,000 versus 3,000,000 with lots of dollars. Just because they are currently drawing breath and have dollars, does not mean that both conditions will continue in the face of violent opposition.
"Great spirits have always encountered violent opposition from mediocre minds." Uncle Albert.
The "Great Minds" and NOT those belonging to the elitists!
Laws and Taxes are for Peons and Peasants.
But I have high hopes that the Judges will stand by the rule of law, and damn the torpedos (banksters).
Semper Paratus.
This is something that could end up on a real world "to do" list. If a local judges sells us out to a distant bank despite the legal precedents in place for a century or so, there's a hide that could use some daylight shining through it.
That's what I call taking action locally, although at least some of the local police might take a dim view. But I suspect it would only take a handful of such events nationwide to serve notice that we've had enough from crooked judges.
to paraphrase samuel johnson: nothing clarifies events like the prospect of one's own death.
Where do we start? I suppose we could all go over to the local branch and start killing the mimimum wage tellers. With luck, we might even have the branch manager dancing from the flagpole out front.
And this fixes things how?
Or do we charter a bus to Wall Street and start marauding any buildings that have suspicious looking signs out front?
Come up with a viable plan that actually has the effect of cleaning out the rats' nests. I'm sure there are more than a few people who would be willing to play a couple of holes at least.
ron paul or russ feingold in '12. they both voted against the iraq war and the patriot act. either would be infinitely better than our last two or ten. but given the epic mendacity of our current iteration, it is more a hope than a certainty.
That has to be a joke, right? :) Their balls are so big they defy gravity. Too bad soon they will be choking on them, and damn if I just forgot how the Heimlich works....
Apathy is the answer. Those still clinging to their jobs are suffering from Stockholm Syndrome and are defending the banksters as they are being robbed. Those without a job are too poor and distraught to do anything about it. Moreover, they keep believing the story that the reason for their pain is self-inflicted. Basically, it's the victim's fault for being rapped!
Idiots brainwashed 24x7 by TV and all of the networks and stations are the same. It is like The f**king Matrix. Idiots watching ball games, reality TV and other shit. Drinking beer.
Reading the BOA response. My favorite so far...
No need for a special master because.... drum beat please...
"Bank of America's Foreclosure Practices Are Subject to Comprehensive Supervision and Review by Federal Regulators."
You can't make this stuff up.
the TBTF banks care about "the public interest" . the only public interest that matters to them is the interest the public will keep paying them in the form of taxpayer $ bailout funds .
It's not in the bank interest to have these suspended, because it stops the whole game and it will enable more dirt being found on this fraud. Can you imagine one party of a lawsuit that was caught in fraud and may be liable for billions in this fraud telling the judge that they have bettered their procedures so don't halt. They may have made them better, but it doesn't clear up the fraud that was done before the fact. It's like somebody saying to the judge that they didn't know bank robbery was illegal and after reviewing the laws and such now will never do it again. Yea but you still are liable and criminally responsible for the acts.
This Is a Manhood Test For Judges...
Do you judges have any integrity? Or are you just more bought off douche bags like:
A Sad Day For the US Judicial System
What's going to be Amerikan Judges? Rule of Law?
To douche... or Not to douche...
just finished watching a lesser known john huston film "when we were strangers" about revolutionary terrorism in '30's cuba. an unquestioned premise of the film is that the u.s. is the beacon of hope for liberty throughout the world. my how she flickers and threatens to fail today. as lincoln said, as a nation of free men we will live through all time or die by suicide.
I'm w/ you on this one, Buck. Up till now the banks have been happy w/ moratoriums, bailouts, gov't intervention programs, etc, etc. NOW, all of a sudden "they" want the process unencumbered??? Why? They all of a sudden WANT to take a loss?
Truth is that the gig is up. Prices are not coming back and they know it. Every day increases loss even though they can mark 2 fairy-land, they know that their books are cooked internally and in the next 3 years it ALL goes *POOF*. Meanwhile, it is "hide the f*k ups" before we pay a fine or God forbid GO TO JAIL.
spot on Buck and quartshort....
To further illustrate the criminality and fraud, let's draw this rough draft analogy, which is admittedly hyperbole, but I hope to illustrate some legal points as to why this is a criminal issue and not just a civil issue:
"Yes your Honor, I pulled my pants and underwear down and accidentally and unintentionally tripped and my penis fell into the vagina of the woman claiming she somehow has the right to sue me for this. However, even though I submitted a forged document indicating her consent, I realize now that I will have to take further steps to ensure this does not happen in the future. After all, she was there and none of this would have happened had she not been there. It is really her fault. I have modified my urination process so that I will only unzip my zipper and not fully pull down my pants in the future. However, the courts should not prevent me from urinating....."
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