As discussed in part 1 of this article, as a Result Of The Recent Investigation Launched By The Florida Attorney General's Office, Bank Of America, GMAC Bank, JP Morgan Chase, and others, have all been found guilty of foreclosure fraud.
Depositions by the banks employees revealed that the banks have been forging, falsifying, and fabricating documents in order to Foreclose on millions of homes owned by unsuspecting American homeowners.
Now, is it possible that our own government is protecting the massive fraud perpetrated by these greedy banksters, in order to exonerate them from the civil and criminal penalties that could hold these greedy Wall Street bloodsuckers accountable for their criminal behavior?
It looks like it is about to be business as usual. The Attorney General's of all 50 states are in settlement talks with the banks to make a deal that will allow them to pay off the federal government, in exchange for avoiding any criminal prosecutions for fraud.
WOW! Who says crime doesn't pay? It pays big time when you're a greedy Wall Street Baron, and a criminal bankster in America, who controls the world economy, and subsequently the government which is supposed to police it.
In January of 2011, Bank of America (BAC, Fortune 500) just paid a billion settlement to Fannie Mae and Freddy Mac, for selling them fraudulent loans. Hey, what's Billion, when you've made tens of trillions on the fraudulent loans they sold all over the world? Just a drop in the bucket, and the price of doing business if you get caught. Pay a fine, but definitely don't do any jail time, when you're obviously above the law in America.
Next, FL Attorney General Announces a Million National Settlement with Bank of America over its Bid-Rigging Scheme for its involvement in a nationwide scheme to allegedly rig bids and engage in other anticompetitive conduct relating to municipal bond derivatives that defrauded state agencies, local governmental entities, and not-for-profit entities. Does the scandal ever cease? Is this the America you thought you knew?
Again, same broken record, Attorney General Edmund G. Brown Jr. announced in December of 2010, that Wells Fargo had agreed to provide loan modifications worth more than billion, to thousands of California homeowners with pick-a-pay loans and to pay an additional million to thousands of borrowers who lost their homes through foreclosure. Again, banks do the crime, but don't do the time!
The bottom line is this, your paid off politicians aren't going to protect you. You the American citizen's have to rise up, as they have recently done in Tunisia, and Egypt. The greedy banksters have one motivation, GREED! However, if you arm yourselves with the knowledge, and mortgage ammunition you need, you can fight your mortgage WAR and WIN!
The answer is simple! Take the profit out of the bankster's fraudulent scheme, and they go away! Arm yourselves with the knowledge and power to make the bankster's fraudulent scheme blow up in their own faces!
Until such time as The Department Of Justice, The SEC, And The Attorney Generals of each state decide to pursue criminal indictments, instead of the menial fines, and slap on the wrist as indicated above, homeowners have no choice but to implement their own available legal strategies to fight to save their homes.
One of the most recent, and exciting legal options available to homeowners today is a civil lawsuit against the banks for fraud in the securitization of your loan. It has been determined that it is a violation of the Securities Act of 1933 to sell the rights and interests in the homeowner's loan instrument as un-registered securities to those seeking to make lawful security investments, which is exactly what the banks have done.
Additionally, the enforceability of the note and deed of trust by conversion in securitization, without the consent of the Trustor (homeowner) is an IMPROPER CONVERSION AND ALTERATION OF THE NOTE AND DEED OF TRUST. There are also IRS Code violations committed by the banks here. See the upcoming article The Wall Street Scam: Securitization Is Illegal at my website.
However, again, most of these foreclosure cases involve the banks inability to produce the promissory note in order to prove they have any legal rights to foreclosure. Homeowners have additional legal strategies available to them, in order to stop the banks from fraudulently foreclosing on their homes.
One of the more popular strategies that have been employed is the Produce The Note Strategy. As a large percentage of mortgage loans were securitized, and sold to investors all over the world, it has been difficult, if not impossible for the banks to produce the required documents that would establish their right to foreclosure, as those documents have been lost in the Wall Street ether. This is why the banks have attempted to forge and falsify the documents, but have been recently caught, and found guilty of fraud.
And a final option, but definitely not the least, is the latest, and possibly one of the most powerful strategies available, which does not require a homeowner to go to court at all. It is strictly an administrative process pursuant to the Administrative Procedures Act Of 1946, by which the homeowner is legally able to reconvey the property title back into his/her name, thereby revoking any authority by the bank to foreclose on the property, and taking the property back free & clear usually within 90 days.
This effectively puts the homeowner back in control, and forces the bank to deal with the homeowner, who now is negotiating from a position of strength, instead of begging the bank for help. The bank now has to go to the homeowner to resolve any title issues.
Until such time as our Government Officials decide that they will uphold, and enforce the rule of law, and the U.S Constitution, and not allow themselves to be bought by the bank's lobbyist, the American homeowner must be willing to fight for their constitutional rights, and homes by any legal means necessary against the Federal Reserve, The banks, and the wealthy Wall Street Barons, who created this mess with the full intention of fleecing the American citizens from all of their remaining wealth in the form of equity in their homes.