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| Half million dollar house in Salinas, California under foreclosure. (Photo credit: Wikipedia) |
Showing posts with label New Jersey. Show all posts
Showing posts with label New Jersey. Show all posts
Wednesday, July 17, 2013
CALIFORNIA FORECLOSURE STATS
Monday, August 29, 2011
$1 HOUSES?
Lawsuit over promised $1 houses in Camden's Lanning Square could drag on another year
Former tenant Shelley McCullough said a Camden Townhouses manager told her if she stayed… (TOM GRALISH / Staff Photographer)
After seven months of meetings and at least two settlement conferences with a judge, lawyers involved in a federal lawsuit in Camden over promised $1 homes are still at odds, leaving prospective homeowners to wait what could be another year for a resolution.
What started as an effort by local leaders, including the Rev. Al Stewart and Cooper University Hospital board chairman George E. Norcross III, to foster an amicable solution instead led to a squabble behind closed doors.
The lawsuit alleges that the developer of Camden Townhouses II, Israel Roizman, deceived low-income tenants and denied them their right to homeownership.
Roizman, of Lafayette Hill, signed agreements with the city and state in 1992 to buy and rehabilitate 91 units - including 41 single-family houses - in the Lanning Square area for $175,000.
Under the plan, Roizman was to collect subsidized rent from the tenants and, 15 years later, the tenants would have the option to buy the units for $1 each.
It has been 19 years, and the prospective homeowners are still waiting for their promised $1 homes. Some are still in the units, others have moved out, and at least one has bought a house elsewhere.
Last week, U.S. Magistrate Judge Joel Schneider held a three-hour settlement conference with about 10 lawyers representing the 15 tenant-plaintiffs - all women - and some of the 23 defendants, including state and city agencies, named in the suit.
But the meeting did not provide any answers for the tenants, three of whom sat outside the judge's chambers while the lawyers conferred.
The conference was closed to reporters. None of the lawyers could discuss it because the judge had all parties sign a confidentiality agreement.
One of the complexities in the case, according to Roizman's attorney, Leon J. Sokol, is that the developer owes $7 million in mortgage loans on the properties. The tenants, he said, would have to pay that off if they acquired the properties.
Attorneys for the tenants dispute that.
If a settlement is not reached, the judge could send the case to trial, stretching the outcome to more than a year from now, said Geoffrey V. Seay, one of the lawyers representing the tenants.
"They were promised to purchase their home for $1 after 15 years. That's what they want," Seay said.
After a Jan. 2 Inquirer article highlighting the delay in transferring the houses, Norcross, the influential Democratic leader, organized a meeting involving Roizman, city and state officials, and community leaders.
Norcross proposed that the Cooper Foundation, the hospital's charitable arm, work with the St. Joseph's Carpenter Society, an East Camden nonprofit redevelopment group, to help gain the transfer of properties to the tenants.
Cooper's stake in the deal is that homeownership brings stability to the hospital's neighborhood, said Cooper Foundation president Susan Bass Levin, a former mayor of Cherry Hill. Bass Levin, as a former commissioner of the New Jersey Department of Community Affairs, is named as a defendant in the tenants' lawsuit.
A week after the Jan. 11 meeting at Cooper, Seay and fellow Philadelphia lawyer Joseph Green II filed a lawsuit in U.S. District Court on behalf of the 15 women.
Among the group's claims in the suit are breach of contract, unjust enrichment, fraud and deceptive practices, and intentional infliction of emotional distress.
Sokol said last week that Roizman was willing to keep his promise of $1 homes, but that the legal complications beyond his client's control needed to be sorted out first.
Officials at the New Jersey Housing Mortgage Financing Agency, which issued several of the mortgage loans to Roizman and which is named as a defendant in the lawsuit, declined to comment for this article, citing the pending litigation.
"We're happy to go forward with the $1 deal," Sokol said. Roizman "doesn't have the legal ability to determine who qualifies."
Sokol said the "most sensible approach" would be to turn over the project to St. Joseph's.
"They have experience in qualifying first-time homeowners, counseling people in homeownership," he said.
But St. Joseph's executive director Pilar Hogan Closkey said the society would not get involved until the lawsuit was resolved.
Sokol said the lawsuit had frozen the transfer process. Seay disagreed.
"They have a history of playing that game, of saying, 'We just need something else,' " Seay said.
He said it was discriminatory to suggest that a nonprofit agency was needed to provide homeownership counseling to the women, who are single, low-income African Americans and Latinas.
The women are already used to paying rent and utility bills, he said.
Sokol warned that the prospective homeowners would also have to assume rising property-tax bills.
"Whether or not they can [pay taxes], that's not our issue," Seay said. "That doesn't preclude them from owning."
Hogan Closkey said she understood that the state was not willing to forgive the mortgages.
Roizman still owns the development and still receives monthly subsidies from the U.S. Department of Housing and Urban Development to supplement the rent he receives from tenants.
The area has risen in value tremendously since Roizman acquired the properties. One of the corner units at Broadway and Line Street is valued at $125,000, compared with $19,000 two years ago. The Cooper Rowan Medical School is being built a few blocks away.
In 1993, Shelley McCullough, 42, became the first tenant in one of the houses, in the 500 block of Royden Street.
She recalled that during her pre-move-in orientation, the Camden Townhouses housing manager told her and other new tenants what a great deal they had, that if they remained in their units for at least 10 years they would be able to buy them for $1.
In 2003, she moved out because her salary as a clerk for the state Division of Youth and Family Services was not enough to pay the rent of more than $700.
McCullough was able to get a loan and bought a house in Cramer Hill. Even if she does not end up qualifying for her $1 home, she hopes that Roizman keeps his promise and that the lawsuit sets an example.
Tuesday, August 16, 2011
STOP FORECLOSURE FRAUD KEEPS YOU UP WITH ALL THE IMPORTANT FORECLOSURE NEWS
Stop Foreclosure Fraud presents the following...
FORECLOSURE FRAUD | by DinSFLA
Help Stop Unlawful Foreclosures, Bank Repossession, Evictions and Foreclosure Fraud with the power of Resources, Education and Each Other.
Fannie Mae promises to keep families in homes, but instead pressures banks to foreclose - 2011-08-15 13:38:46-04StopForeclosureFraud received a similar memo from Fannie to GMAC, but this one addressed to JPMorgan Chase [see below]
Feep.com
In early December, a senior executive at Fannie Mae assured members of the Senate Banking Committee in Washington that the mortgage giant was doing everything possible to address the foreclosure crisis.
“Preventing foreclosures is a [...]
Read more: http://clicks.aweber.com/y/ct/?l=Dr727&m=3YKB1RHv5HShwSR&b=hD0NJ3RG5AUIq1kN.4j9eA
MERS “stiffed” three Mass. Berkshire Registry of Deeds offices of nearly $2 million in recording fees - 2011-08-15 15:10:20-04
Massachusetts clearly is not backing down!
Berkshire Eagle-
A Virginia-based mortgage registry business mired in the nation’s housing foreclosure investigation has apparently “stiffed” the three Berkshire Registry of Deeds offices of nearly $2 million in recording fees for more than a decade, local registry officials have claimed.
Mortgage Electronic Registration Systems Inc. [...]
Read more: http://clicks.aweber.com/y/ct/?l=Dr727&m=3YKB1RHv5HShwSR&b=IJMoyetSSO3EpwLDDL7Rfg
Stern insurer wants out of policy, says it doesn’t cover claims involving “fraud” - 2011-08-15 15:58:05-04Oh it’s getting hard to escape this word connected to Mr. Stern. Just last month GMAC dropped a bombshell of it’s own in case you missed it.
Kim Miller-
An insurer for former foreclosure giant David J. Stern wants out of its policy, saying in a lawsuit that the company doesn’t cover “claims based upon, arising out [...]
Read more: http://clicks.aweber.com/y/ct/?l=Dr727&m=3YKB1RHv5HShwSR&b=_Fg8KMJTuMOP3jPzipdI6w
Downey Sav. & Loan Assn., F.A. v Trujillo | NY Judge Schack Slams Ebenezer Scrooge “Under the penalties of perjury, Deceptive trick and fraud upon the Court, “Bah, humbug!” - 2011-08-15 17:40:16-04
Decided on August 12, 2011
Supreme Court, Kings County
Downey Savings and Loan Association, F.A., Plaintiff,
againstDario Trujillo, et. al., Defendants.
http://stopforeclosurefraud.com/?s=JUDGE+SCHACK+%22BAH%2C+HUMBUG%22&x=0&y=0
22268/08
Plaintiff
Nicholas E. Perciballi, Esq.
Druckman Law Group, PLLC
Westbury Jericho NY
Arthur M. Schack, J.
Plaintiff’s counsel, in this foreclosure action, engaged in possible sanctionable conduct by affirming “under the penalties of perjury” to a false statement. In [...]
Read more: http://clicks.aweber.com/y/ct/?l=Dr727&m=3YKB1RHv5HShwSR&b=kroR26spGnOVA7hhR.DmUg
N.J. judge allows 4 major banks to resume uncontested foreclosure proceedings - 2011-08-15 23:05:06-04
If New Jersey has no clue to what a third world country looks like… it better brace itself because neighborhoods are going to be eyesores. Just imagine who’s taking care of the nearly 20% of Florida homes that are vacant?
NJ-
A New Jersey judge has ruled that four major banks can resume uncontested foreclosure actions [...]
Read more: http://clicks.aweber.com/y/ct/?l=Dr727&m=3YKB1RHv5HShwSR&b=ZabNoluhFKx5pY_tXVBn9A
Nevada Joins States Balking at Bank Releases in Foreclosure Practices Deal - 2011-08-15 23:19:41-04
Bloomberg-
A possible settlement of a 50-state probe of foreclosure practices was questioned by Nevada’s attorney general, who joined three other states in voicing concern about a deal that protects banks from continuing mortgage investigations.
Nevada Attorney General Catherine Cortez Masto, whose office has sued Bank of America Corp. (BAC) and is conducting civil and criminal foreclosure [...]
Read more: http://clicks.aweber.com/y/ct/?l=Dr727&m=3YKB1RHv5HShwSR&b=SlISCrap4Euki8lW0S0cTA
It now looks like MERS and the system set up to legalize securitization was jerrybuilt at best – Ted Kaufman - 2011-08-15 23:33:21-04
Will the Mortgage Mess Meet Too Big To Fail?
HuffPO-
Ever since the Dodd-Frank Wall Street Reform Act passed last year, there has been a running debate about the Resolution Authority in the bill. Would it actually prevent another taxpayer bailout of a bank or banks to avoid a financial meltdown? I believe there [...]
Read more: http://clicks.aweber.com/y/ct/?l=Dr727&m=3YKB1RHv5HShwSR&b=QQE3HcmuarfQq8LDAJwLhA
Tellado v. INDYMAC MORTGAGE SVS | PA Dist. Court “OneWest Bank shall refund all payments made under the contract, cancel and return any negotiable instrument” - 2011-08-15 23:52:26-04
JOSE TELLADO AND MARIA TELLADO, Plaintiffs,
v.
INDYMAC MORTGAGE SERVICES, a division of OneWest Bank, FSB, Defendant.
Civil Action No. 09-5022.
United States District Court, E.D. Pennsylvania.
August 8, 2011.
MEMORANDUM
PETRESE B. TUCKER, District Judge.
After a bench trial in this matter on November 8, 2010, and pursuant to Fed. R. Civ. P. 52(a), the Court [...]
Read more: http://clicks.aweber.com/y/ct/?l=Dr727&m=3YKB1RHv5HShwSR&b=wkV7mbuXRVSFOZ.tNv0vTw
Disclaimer:
Legal information is NOT legal advice. The information herein
should NOT be taken as legal advice and is NOT a substitute for the
assistance of a licensed advisor. I AM NOT AN ATTORNEY.
SSD, LLC, PO BOX 11394, Fort Lauderdale, FL 33339, USA
To unsubscribe or change subscriber options visit:
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Legal information is NOT legal advice.
The information herein should NOT be taken as legal advice and is NOT a substitute for the assistance of a licensed advisor.
I AM NOT AN ATTORNEY.
*posts are scheduled in advance and may not be in real time*
© 2010-11 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.
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Tuesday, February 1, 2011
BRILLIANT COMMENT FROM MARY COCHRANE WITH SAVE AMERICA ONE MORTGAGE AT A TIME! THANK YOU, MARY...VERY ENLIGHTENING, INDEED!!
SAVE AMERICA
ONE MORTGAGE AT A TIME
by Mary Cochrane
Tuesday, February 1, 2011 at 9:50 PM
Kelly keep up the great effort to Save America One Mortgage At A Time. This comment relates to Bear Stearns who provided a no-cost loan on 2nd mortgage originated by Wells Fargo Bank NA dba (Investor) c/o Wells Fargo Asset Securities Corp f/k/a Norwest Asset Securities Corp (NASCOR) in former Agreements with Bear Stearns.
My Loan Origination Fraud reveals the primary mortgage sold in secret by Wells Fargo Bank NA to Deutsche Bank Securities who purchased the promissory note.
The Remitter Ordered by WFHM. 6/5/06. We did not see the mortgage documents until evening of 6/7/06 PM. We did not know WFHM NJ employees ordered closing with forged signatures. I secured copies of the closing documents for originations from the Attorney for Wells Fargo Bank NA the 'Originator' of the 80/20 Mortgage, documents which include Remitter and Ref# reveals loan number of my first mortgage.
Remitter is top half of Cashier's Check. I placed a copy on http://www.saveamericaone.com
While researching fraudulent acts involved in the purchase of the first mortgage WFMBS 2006-10 and WFHMBS 2006-AR10 (Investors have in litigation a whole slew of related transactions).
Wells Fargo clearly states conveyance of mortgages in Agreements in which HSBC National Bank Trustee for transactions with investor Deutsche Bank Securities.
Wells Fargo used MIN# on 2nd Mortgage Southstar Funding LLC.
Wells Fargo lied to OCC stating they had nothing to do with origination. Selling Origination to second party after first selling the promissory note and not recording lawfully the mortgage and once the note separated from the mortgage, converted to a securities can't be converted back.
Same attorney representing Wells Fargo in New Jersey Diane Bettino REED Smith is the Attorney representing the litigation for Wells Fargo V. our foreclosure.
Wells Fargo sold in secret origination of second mortgage.
Bear Stearns provided no-cost-loan. Wells Fargo Title for Lender - Star Mortgage Services. In NJ, Capital Home Mortgage dba Southstar Funding LLC
The documents given to consumers are what the servicer wants you to see and does not include the originations. The omissions are substantive.
Mary_Cochrane@saveamericaone.com
http://www.saveamericaone.com
Linkedin Mary Cochrane Wells Fargo
ONE MORTGAGE AT A TIME
by Mary Cochrane
Tuesday, February 1, 2011 at 9:50 PM
Kelly keep up the great effort to Save America One Mortgage At A Time. This comment relates to Bear Stearns who provided a no-cost loan on 2nd mortgage originated by Wells Fargo Bank NA dba (Investor) c/o Wells Fargo Asset Securities Corp f/k/a Norwest Asset Securities Corp (NASCOR) in former Agreements with Bear Stearns.
My Loan Origination Fraud reveals the primary mortgage sold in secret by Wells Fargo Bank NA to Deutsche Bank Securities who purchased the promissory note.
The Remitter Ordered by WFHM. 6/5/06. We did not see the mortgage documents until evening of 6/7/06 PM. We did not know WFHM NJ employees ordered closing with forged signatures. I secured copies of the closing documents for originations from the Attorney for Wells Fargo Bank NA the 'Originator' of the 80/20 Mortgage, documents which include Remitter and Ref# reveals loan number of my first mortgage.
Remitter is top half of Cashier's Check. I placed a copy on http://www.saveamericaone.com
While researching fraudulent acts involved in the purchase of the first mortgage WFMBS 2006-10 and WFHMBS 2006-AR10 (Investors have in litigation a whole slew of related transactions).
Wells Fargo clearly states conveyance of mortgages in Agreements in which HSBC National Bank Trustee for transactions with investor Deutsche Bank Securities.
Wells Fargo used MIN# on 2nd Mortgage Southstar Funding LLC.
Wells Fargo lied to OCC stating they had nothing to do with origination. Selling Origination to second party after first selling the promissory note and not recording lawfully the mortgage and once the note separated from the mortgage, converted to a securities can't be converted back.
Same attorney representing Wells Fargo in New Jersey Diane Bettino REED Smith is the Attorney representing the litigation for Wells Fargo V. our foreclosure.
Wells Fargo sold in secret origination of second mortgage.
Bear Stearns provided no-cost-loan. Wells Fargo Title for Lender - Star Mortgage Services. In NJ, Capital Home Mortgage dba Southstar Funding LLC
The documents given to consumers are what the servicer wants you to see and does not include the originations. The omissions are substantive.
Mary_Cochrane@saveamericaone.com
http://www.saveamericaone.com
Linkedin Mary Cochrane Wells Fargo
Do you have any robo-signer named C. FETNER, CATHY FETNER or CATHERINE FETNER in your database or in documents you’ve seen?
Image via WikipediaFROM OUR HARVARD FRIEND: WHAT ABOUT LEHMAN?
Posted on February 1, 2011 by Neil Garfield
This Maryland class action ruling requires Lenders to file new foreclosure suits under new statutes that require mediation, modification and other remediation attempts.
The class action in Massachusetts resumes with the SJC Ibanez ruling.
QUESTION:
Do you have any robo-signer named C. FETNER, CATHY FETNER or CATHERINE FETNER in your database or in documents you’ve seen? Fetner signed as a principal at Hanover Capital Partners for WAMU (where later she was Risk Manager), and Edison Decisioning (sharing same address as Hanover Capital) in Edison, NJ. She may have been involved in creating or spinning off ALLON HILL (a “due diligence” firm which sprang up when gaps in assignment chains needed filling). Her specialty seems to have been “due diligence” which we take to now mean fabricating documents to fill in the gaps in these assignment chains. She is currently at JPM Chase. In one document we first examined four years ago, Cathy Fetner’s signature (in NJ) appears on an assignment from Bank United to WAMU dated the day of the Miami closing. The law mill that proffered this fake additional document did so AFTER WAMU became part of JPMChase. US Bank National Association became trustee of of SASCO 5 RF 5, the fund that supposedly contained the loan in question when it was still at Lehman Brothers. There was no mention of Lehman Brothers on any assignment. The judge in Miami asked “so what?” when this and other frauds and forgeries were brought to her attention. PLEASE PASS THIS QUESTION ON.
RSVP
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Filed under: bubble, CDO, CORRUPTION, currency, Eviction, foreclosure, GTC | Honor, Investor, Mortgage, securities fraud
« MATT WEIDNER POSES GOOD QUESTION How Do You Modify A 2-Party Contract With Only 1 Party Present? HAMP! »
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9 Responses
leapfrog, on February 1, 2011 at 4:29 pm said:
Frustrated to the hilt: I remember reading M. Soliman’s comments that MERS is the actual break in the chain. Here is the quote I have saved from him in Word format, as I think it is so important…I don’t understand everything he says, but this may be a gem!
“The break in the chain of title is actually the registration with MERS. You cannot register a security and have a recorded assignment – its dual consideration and that’s a fraud.”
M.Soliman
expert.witness@live.com
Comments in article here on LL: “Reports Coming in That BOA Will Buy AIG to Hide The Transactions”
Ian, on February 1, 2011 at 3:44 pm said:
EMC mortgage is a servicer and former lender owned by Bear Stearns. Also BNC Mortgage was owned by Bear Stearns. They also owned Encore Credit Receivables Trusts, held by CWABs.(Countrywide). In all the suits filed against CW, some of their dealings with EMC are coming to light in the courts. So now the shadow players are changing the named investors on MERS site from EMC to Encore Credit. None of these trusts have reported in 3 or so years in the SEC docs, and I haven’t found any 15Ds filed. Can anyone add to this? Thanks-
dave, on February 1, 2011 at 3:31 pm said:
to clarify an issue, catherine fetner was appointed pursuant to a power of attorney to act as poa for fdic, problem is all these 15k + assignments were purportedly executed and acknowledged march 21, 2002, and effective dec 31, 2001, when according to the trusts, the assignments were years earlier, these were special made assignments by the fdic, pusuant to the sale of the servicing rights to emc mortgage, problem is they all are frauds.
DyingTruth, on February 1, 2011 at 11:21 am said:
dave,
FDIC!?! That’s some damning evidence, for her and the FDIC.
dave, on February 1, 2011 at 8:30 am said:
I have assignments of mortgage from catherine fetner, purporting she is senior vice president of emc mortgage corp! she was also a power of attorney for the fdic, ( and a notary) when fdic sold the servicing rights of the superior bank mortgages to emc mortgage, she and others poas purportedly executed and notarized tens of thousands of mortgages all on one date march 21, 2002! Further her signature varies on the documents, suggesting she did not sign them, further some of these mortgage were not recorded until years later, after the poa from fdic expired, in my case the persons who signed my assignments signed thousands of others all on the same day, i have reviewed over 12k assignment of these assignments of mortgage, the ones signed by ms fetner were usually recorded years later ie 2004-2007, suggesting they were not executed on march 21, 2002, as purported on the assignments. also they were witnessed by 15 different people! of course this is not possible, i doubt if these people were even employess of hanover on march 21, 2002! I have lots of documentation includung copies of ms fetner’s signature, ( assignments) she is nothing but a fraudster, i would be happy to share info, email me a gobb@ptd.net. further, as she was a new jersey notary, a complaint to new jersey notary comm. would be appropiate, also consider that these assignments were prepared by another notary ( ies) namely marileen bradlee, donna graves, I believe new jersey has a law forbidding notaries from preparing legal documents. hope to hear from you!
frustrated to the hilt, on February 1, 2011 at 7:37 am said:
I am facing a similar situation with a now defunct pretender lender, which had the loan table funded, no proper disclosures, other than their own BK filing indicating their practice of selling the loans prior to settlement for 103% OF THE LOANED AMOUNT.
The closing instructions mention Aurora Loan Servicing and Lehman as the new servicer and what appears to be Investor. Lehman went bust, this pretender went bust also. Now three years later the liquidating BK trustee is coming forward with what appears to be the original note with a blank endorsement made by them to collect on a loan that has in all appearances and purposes been paid in full to them prior to settlement, but we have no proof other than their BK filing and the closing instructions. It seems we are in limbo here, and they have the winning hand, even if that means a crooked winning hand.
We are sure the judge is going to rule on their favor, only because of the fact that they have not mentioned any trusts, nor have there been any assignments on the land records, and MERS is on the deed of trust. I did the securitization analysis, however, the actual trust could not be located. Why would a pretender lender do a blank endorsement on a note if it was not to sell it to some one or to have sold it prior to funding?
Any comments and suggestions?, I understand no one can provide legal advice, what I am looking for is to expand my horizons!!!
This case has been a nightmare for the last two years or so. How can you fight them when they refuse to give you the info and when they are lying all the way to the bank!!!!
I forgot to mention that this case is in VIRGINIA!!!!, where you can get foreclosed by the pretender lenders by almost showing up a picture of your house and claiming they lent you the money!!!.
Mary, on February 1, 2011 at 7:05 am said:
So if in Maryland they have to refile the foreclosure suits . Will all the homeowners that went through this in 2009 be notified of a new foreclosure or will it all just be refiled and swept under the rug? What about the homes that were already bought will they have to give up that home. This is truely a disaster all around and so many questions and no answers. Fortunatly my home is still standing empty and owned by the bank with a reality comp. handleing the sale. Altisource bought it. But my big question is will we the homeowners that already went through the illegal foreclosure because the courts did not examine all the paperwork have to go through this AGAIN???
Rabi, on February 1, 2011 at 5:34 am said:
“So what……..” Hmmmm. Not surprised, they are more corrupt in Florida and Miami in particular. All you have to do is understand the politics down here to understand why. Remember the 1980′s with the drug cartels when officers of the law went to jail for consorting with criminals?. Now it’s consorting with banksters .Banana republic pretending to be cosmopolitan. “So what” …… truly amazing.
DyingTruth, on February 1, 2011 at 3:46 am said:
All she cares about is her retirement, which she’ll lose shortly after she’s let everyone’s houses be illegally taken from them. Ask her if she thinks her pension fund, which holds billions of worthless securities will be able to pay the legal fees associated with defending RICO charges.
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