Big banks hold great sway in Washington these days, far more than troubled homeowners do. But outside the Beltway, many people remain caught in the maw of the financial giants, which is why it is heartening when some judges step into the fray.
Consider two opinions involving Wells Fargo, a bank that enjoys a somewhat better reputation than many of its peers. On Monday, a judge in a state court in Missouri ordered Wells to pay over $3 million in punitive damages and other costs for abusing a borrower. Then, on Thursday, a judge in Federal Bankruptcy Court in suburban New York ruled on behalf of another borrower, concluding that there was substantial evidence Wells Fargo forged documents when it foreclosed on a property. Continue reading →
While the foreclosure crisis might sound to some like duck soup, Professor John E. Campbellfrom the University of Denver Sturm College of Law has taken the time to dissect the issues in his Mortgage Crisis in a Nutshell video explaining precisely what has happened to homeowners and searching for the reasons why.
Prof. Campbell explains what has happened in the traditional sense and how Mortgage Electronic Registration Systems, Inc. participated in part of the scheme. He also discusses how andwhy the homeowners were not intentionally at fault.
In this one-hour video, Attorney John E. Campbell explains the main aspects of the mortgage crisis that has devastated the U.S. housing market and the economy. Watch the video and then let’s discuss securitization in a little more detail below. Continue reading →
Most homeowners have flawed, robo-signed and outright fraudulent assignment of mortgage documents. It’s time to take copies to the state AG, file a complaint and show them just how prolific the fraud is. You may not be able to go to hop a plane to help OccupyWallStreet – but you can show solidarity by contacting your Attorney General.
Do it now – call the AG, show them your assignment of mortgage documents and file a complaint. Click on your state below.