Comments on: Barney Promises to Be Really Nice to the Poor Little Republicans

By: wavpeac

wavpeac — Tue, 30 Sep 2008 23:11:12 +0000

There is a class action lawsuit and I have given them my info. They are going at for the fee violations. This fits my scenario perfectly.

But I have been part of two of these and they both got thrown out on technical reason I didn’t understand.

By: Rayne

Rayne — Tue, 30 Sep 2008 21:50:25 +0000

I think you need to find enough other people with similar circumstances to start a class action suit, based on a discussion I had with a lawyer. Can you query people at the different boards you’ve been reading and find enough people who share the same “foreclosure specialist” or mortgagor?

By: behindthefall

behindthefall — Tue, 30 Sep 2008 17:37:06 +0000

In case anybody’s still on this thread … to clarify: my parenthetical in #39 was mocking my own use of the word ‘industry’. Wasn’t directed at anybody else.

By: Boston1775

Boston1775 — Tue, 30 Sep 2008 15:49:52 +0000

Thank you so much for writing about this, wavpeac.
It is amazing how one personal story illuminates the disaster.

By: behindthefall

behindthefall — Tue, 30 Sep 2008 15:00:41 +0000

Not good. About the best argument, potentially, I have heard for a strong governmental presence in the industry. (”Industry”!! Don’t make me laugh! These vultures don’t MAKE a d**ned thing. You want “industry”, move to China!)

By: wavpeac

wavpeac — Tue, 30 Sep 2008 14:27:06 +0000

The answers to your questions are complicated. I have had lots of folks give me well meaning advice that was useless in this market. The better business bureau had no complaints on my lender in 2001 when I took out the loan because I checked. Today the complaints are numerous. I would say if you just google the name of a lender with the word fraud you will know in a quick moment whether their have been complaints.

As to why there was little help? I don’t really understand it. I went to at least 15 or more lawyers in my town. One big problem is that these companies are huge and have huge paid legal teams fighting small town lawyers. They win a lot of their cases because of the loop holes. The biggest loop holes pertain to the fees. (that according to my cooperate lawyer who still isn’t sure she wants the case because they are waiting to see what happens). These cases are complicated because the servicers and lenders are often out of state. The Attorney generals in some states have colluded with these lenders and only slapped their hands when complaints were filed. Filing complaints takes so much time that most folks have lost their homes by the time anything can be done. There is no automatic freeze given when you file a complaint. By the time you get your answer, your foreclosure could be over with.

Judges in my state anyway have no jurisdiction over the fees. My bankruptcy judge told them to remove legal fees and miscellaneous fees when they hauled me into court for non payment. It turned out that I had made every payment. The judge was furious. They did this to me twice. In each case they tried to increase my pay off with these fees. THe judge said no. They did it anyway. I am now backwards on my chapter 13 without ever missing a payment. Then when the bankruptcy is over they will foreclose. There are very few mechanisms to fight these fees. And time and again, this is the one part of these “plans” that republicans fight. Barney Frank has repeatedly asked that the judges in bankruptcy cases be given the power to regulate the fees. Time and again this is removed from the plans.

I still don’t think that people understand the extent and scope of this corruption and how difficult it is to fight them in court. It’s not as simple as it should be.

By: Rayne

Rayne — Tue, 30 Sep 2008 14:18:03 +0000

Hang tight, we are working as hard as we can on this situation. My site has reporting in progress that documents what you’ve described, what those forums describe, AND WORSE.

Wait until this shoe drops. It makes this entire bailout look like the extortion and fraud that it is.

By: behindthefall

behindthefall — Tue, 30 Sep 2008 14:16:28 +0000

Is there anything like a Better Business Bureau which tracks lenders in various regions? How does a person know which lenders to run away from?

And, of course, why isn’t action against the bad ones being taken?

By: alank

alank — Tue, 30 Sep 2008 14:08:53 +0000

Rahm and Barney. What a crack team that is.

By: Leen

Leen — Tue, 30 Sep 2008 14:05:37 +0000

Rep Cantor whined the loudest about Rep Pelosi calling the Republicans out on deregulation and the 12 years that the Republicans controlled congress.

This morning on Washington Journal someone described Cantor as a “rising star” in the Republican party. If Cantor is the best that the Republicans have to offer they are in deep deep trouble. Rep. Cantor is a coward and a weasel. He runs from the Republicans accepting any responsibility for the economic mess this country is in. He runs from the Bush disastrous policies the last six years and the Republicans being more than willing to rubber stamp those policies.

Rep. Cantor really reminds me of Eddie Haskell on Leave it to Beaver
http://www.youtube.com/watch?v.....re=related

Beavers father tells it like it should be
http://www.youtube.com/watch?v.....re=related