Friday, December 19, 2014

BOA Ordered to Pay $1 Million to Homeowner for Robo-Calls

For further information please call 520-405-1688 or 954-495-9867
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Just back from Orlando where I had a 4 hour trial scheduled for five minutes. Of course nobody except the court knew that. Needless to say the trip to Orlando was a bust. Neither counsel — Plaintiff and Defendant — was pleased. The system is badly in need of change. Now we are told that it might be 2016 until we get a judge who can give us 4 hours.
Meanwhile, the Orlando Sentinel reports that Florida is back to #1 in foreclosures, even though major “lenders” are giving people a “break” from wrongful foreclosures by not pursuing evictions during the holidays. see http://www.orlandosentinel.com/business/os-orlando-foreclosures-december-20141210-story.html
But in the meanwhile, BOA and Ocwen has been cited for not following the rules of the “settlements” that stopped criminal and civil prosecutions from the US Department of Justice. see BOA Fails tests: They still don’t care if the foreclosures are wrongful. Both BOA and Ocwen are citing computer problems as the cause of their multitude of violations. see mortgage-deal-monitor-ocwen-review-may-flawed-171850867–finance.html
MOST INTERESTING ABOUT THE OCWEN SITUATION IS THE ADMISSION THAT THEY GENERATED DEFAULT LETTERS WITH THE “WRONG DATE.” this is an admission that their computer was backdating documents “accidentally.” If that were true, where are the random mistakes  being made where homeowners didn’t get a letter or received a letter that was post-dated?
The fact is simple. The “banks” are pursuing foreclosure for reasons other than the loan, the note, the debt the mortgage or to mitigate damages. They are breaking the back of neighborhoods because they want the foreclosure judgment and sale. THAT is the only thing that MIGHT keep them out of hot water — i.e., the liability for refunds and buy-backs of loans that were entirely and fatally defective.
This also reveals how the parties pursuing foreclosure are NOT doing for the creditors (investors) but rather doing it for themselves to the detriment of both the creditors and the debtors. How many of those houses would still be occupied and paying taxes, paying a mortgage payment and keeping the neighborhood alive if a workout had been pursued in earnest?
BOA has been ordered to pay $1 million to a couple who received about 1,000 calls from a robo-calling center regarding their mortgage. This might wake up lawyers who are looking for a big payday. A lawyer who takes such a case on contingency need not litigate the merits of the mortgage or the foreclosure, but merely sue for violation of the fair debt collection laws. See CNBC: BOA Ordered to Pay $1 Million to Homeowner
More bad news for cities who built up infrastructure to accommodate all the new housing in the bubble caused by Wall Street. Experts who are conducting reviews and investigations for local government are all coming to the same conclusion: the only thing to do is demolish the homes that were foreclosed. This again leads to the as yet unanswered question: Why would REAL LENDERS pursue foreclosure on a home they don’t want, won’t keep or even sell? see http://www.wset.com/story/27646534/danville-council-hears-housing-study-findings

2 comments:

  1. POTUS FULLY FILLED WITH THE WORLD HATE VIBE, JUST SEE WHAT THIS CREATURE WITH ITS' SIDEKICK KISSINGER HAS DONE TO WORLD EARTH IN ITS' SHORT TIME ALIVE

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  2. KING POTUS USA SINCE THE BEGINNING OF HIS FATHER LENDING MONEY FOR INTEREST IN AMERICA! TIME FOR CHANGE ALRIGHT!!

    ReplyDelete