Ohio Uses State Monies to Deal with Mortgage Fraudsters and Foreclosures.

I had posted earlier that a lot of the mortgages were turned into Credit Default Swaps, which meant that the mortgages themselves were not held by financial companies, but split over and over into some very ugly, shady deals.

My earlier post on this issue, click here.

The State of Ohio has found grounds to agree with me, and they are actually going ahead with a plan to deal with the greedy jerks who perpetrated some pretty nasty frauds.

How significant is the foreclosure problem in Ohio?
It’s immense. One in 58 households [is] facing foreclosure. That’s one per neighborhood.

Why did you decide to address the mortgage problem by creating this team of lawyers?
The first thing we talked about was whether we could create mediation programs in the courts by asking the judges to encourage or force the servicers to at least sit down and talk to borrowers about an arrangement. But what we concluded was that there is a real inequality, because to file a mortgage foreclosure you have to be a lawyer. And homeowners—particularly those that are in default on their mortgage note—don’t have lawyers. They are at a real disadvantage in negotiating. So it was not good enough just to have mediation, but both parties in the mediation need to be represented by lawyers.

What will the lawyers do?
The lawyers will work with the borrowers to see if there are defenses to the actual foreclosure, whether there was fraud or unsuitability in the creation of the mortgage to begin with, and then to assist in two other ways: either to help litigate the case or to help structure a settlement.

What legal footing might you have to mount defenses against foreclosures?
With these complex mortgage products—the adjustable rates, the no-document loans that were out there—there are all types of things in the generation of loans that give rise to defenses. And with the fact that these loans then started to become sold seven, eight, nine, 10 times in the process, there are even legitimate legal issues as to whether or not the person filing the foreclosure has the legal right to file a foreclosure because they don’t have ownership of the mortgage note.

In Ohio, documents related to real estate have to be in writing; it’s called the statute of fraud. We just convinced a court of appeals—the 10th District Court of Appeals in Franklin County, Ohio—to find that you can’t bring a foreclosure action if you don’t have paper that proves that you own the house.

What percentage of struggling Ohio homeowners could mount a credible defense against foreclosure?
I think in probably 25 percent to 50 percent of the cases. If you look at the foreclosures, I use the following rules of thumb. About half of them are related to some form of financial catastrophe—a medical problem, loss of a job. Of the remaining half, about 25 percent are mortgages that involved outright fraud, where the buyer, the seller, the appraiser—everybody was cut in. So it’s that last 25 percent where people got in over their heads through buying a house that they simply couldn’t afford, or they got loans that they didn’t understand the terms of.

What percentage of home foreclosures do you think you might be able to prevent?
I think the vast majority of them. It would be in the best interest of the servicer and the borrower to try to find some accommodation.

But these contracts are between the borrower and the lender. Why should the government of Ohio be legally challenging them?
The fact is that the evidence is mounting that these wholesalers—and mortgage brokers who supplied them—targeted working-class, middle-class, unsophisticated consumers for generating these loans. So the fact is that there was a conscious effort to find people who wouldn’t be able to negotiate the contract at arm’s length. If a mortgage professional says, “Look, your payment is $500. I know this says it goes up in a year—don’t worry, we’ll come back and refinance you,” I think it’s very reasonable to think that it is not entirely the homeowner’s fault that the mortgage goes into default.

Yep. This is what my own point is, that some people got “snookered” by some people who made money off the backs of people who trusted in financial services, brokers and others.

Frankly, I would love to see these fraudsters charged, fined, lose their own property as “assets gained through illegal actions”. Yes, even the heads of banks, brokerages, real estate companies, developers should be dealt severely by the law.

For those living in Ohio, you need to be very glad you, at least, have someone willing to step up and do something effective.

Bush Puts Through Health Bigotry Law

I am honestly sitting here shaking my head at the antidiluvian measures the outgoing American president created in his last days of office. What this law does is make it blatantly apparent that Bush wanted to overthrow the decision of the U.S. Supreme Court re: Roe vs. Wade and make it possible for further governments to reverse that decision.  It also is apparent that this is a deliberate attempt to force the U. S. health system into a Christian only belief system.

The health measure he created and made into law by decree, without any possibility of debate is completely filled with bigotry. What this law does is make health providers, from doctors and nurses, to pharmacists and others the people who can impose their own bigotry and disdain for human life onto patients and clients.

Imagine this scenario. A person who has AIDS or is HIV positive has to see a doctor, and that person also happens to be gay. Well, according to this law, the doctor, the nurse and any others can refuse to treat, refer, or even see that patient because of their own “moral persuasion.” The providers can have the “moral persuasion” that being gay or lesbian is abhorrent. Now, add in the fact that the patient is possibly pregnant and wants to get some information on the genetics or have other health treatment and it becomes a total nightmare. This law gives health providers the means to impose harsh judgements on lives and the ability to deny any care whatsoever.

Or, imagine this one. A senior is looking for help with pain, and wants to be admitted to hospital for possible testing, but that patient is not a Christian, but perhaps pagan, or of another faith which requires special treatment. The health providers, including the hospital, can now deny that person the ability to have their community come in and provide any counselling or symbols. This could mean those who are Sikh being forced to have facial hair shaved, their turbans removed, and any prayer items removed from the room. Or, worse still, the patient is told, ” We cannot, with our moral stance, treat you at all. Find another place.”

When it comes to health care for women who face unwanted pregnancy, or have to find ways to deal with a health issue during pregnancy, the situation becomes very ugly if bigotry and religious belief come into play. I know there are some doctors who will absolutely refuse to refer, provide alternative information, or even talk to patients who face pregnancies that endanger the mental or physical health of a woman. This is blatant bigotry.

Doctors, pharmacists and others are in the field to provide health care, not judgement, bigotry and even racism with their medications. IF you are one of those who insist on being so narrow minded, then either limit your practice to patients who are of the same mind or get out. Find a position in another field, perhaps research, but DO NOT impose your beliefs on others, even if the outgoing president provides you the means.

It is time for Bush to get the hell out of power, and it is obvious that the beliefs of Bush are set in the early 1920’s, certainly not even close to current society belief and practice.

It is time that the American public understand some things. There have been people who are gay and lesbian since the time of Caesar, and there have been unwanted pregnancies since long before then. Women have aborted fetuses for centuries, either with medical help or without. OUR modern society is facing a huge problem already with overpopulation, scarcity of resources, and the idea that forcing another child to become part of an unwilling society is far more of a violation of their rights than stopping the process.

Each child born now needs to have at least 65 years of food, shelter, clothing, and work. For every child born now, there will be that much more drain on the finite resources of this small planet, and when that child is resented, avoided, or even worse, facing abuse because some “health professional” imposed religion on the mother, it becomes a very nasty world for that child.

I have no problem with parents who want to have children, but remember, those who are responsible parents are the ones who use birth control, limit the family, and make sure that every child they have is supported, loved and given the necessities.

Each year I see articles on the costs of supporting more and more families in poverty. The numbers increase every year, yet this law makes the likelihood of far more people either dying in agony from the bigotry, or living in poverty because of that same bigotry. Phooey. Time for our society to grow up, face the reality that we all have no other place to move to, this is the one and only planet we have! It is time to ensure that each person is given respect for their choices, their lives and their needs.

Bush Designs Pollution, Health Hazards, Guns for America

I honestly thought this was some kind of sick joke when I got some information sent to my email account, but when I checked with several sources, it is true.

The outgoing president is using his “executive” powers to put into law a whole bunch of stupid laws that guarantee fecal matter in streams and drinking water as well as increases in lead. He is also putting into law that truckers can work more than half a day on the road, which most people know is worse than driving drunk!

This is from the Guardian in the U.K.

Paul Harris, The Observer, Guardian.co.uk

George Bush is working at a breakneck pace to dismantle at least 10 major environmental safeguards protecting America’s wildlife, national parks and rivers before he leaves office in January.

With barely 60 days to go until Bush hands over to Barack Obama, his White House is working methodically to weaken or reverse an array of regulations that protect America’s wilderness from logging or mining operations, and compel factory farms to clean up dangerous waste.

In the latest such move this week, Bush opened up some 800,000 hectares (2m acres) of land in Rocky Mountain states for the development of oil shale, one of the dirtiest fuels on the planet. The law goes into effect on January 17, three days before Obama takes office.

The timing is crucial. Most regulations take effect 60 days after publication, and Bush wants the new rules in place before he leaves the White House on January 20. That will make it more difficult for Obama to undo them.

“There are probably going to be scores of rules that are issued between now and January 20,” said John Walke, a senior attorney at the National Resources Defence Council. “And there are at least a dozen very controversial rules that will weaken public health and environment protection that have no business being adopted and would not be acceptable to the incoming Obama administration, based on stances he has taken as a senator and during the campaign.”

The flurry of new rules – known as midnight regulations – is part of a broader campaign by the Bush administration to leave a lasting imprint on environmental policy. Some of the actions have provoked widespread protests such as the Bureau of Land Management’s plans to auction off 20,000 hectares of oil and gas parcels within sight of Utah’s Delicate Arch natural bridge.

The new regulations include a provision that would free industrial-scale pig and cattle farms from complying with the Clean Water Act so long as they declare they are not dumping animal waste in lakes and rivers. The rule was finalised on October 31. Mountain-top mining operations will also be exempt from the Clean Water Act, allowing them to dump debris in rivers and lakes. The rule is still under review at the OMB. Coal-fired power plants will no longer be required to install pollution controls or clean up soot and smog pollution.

Yet another of the new rules, which has generated publicity, would allow the Pentagon and other government agencies to embark on new projects without first undertaking studies on the potential dangers to wildlife.

Announcements of further rule changes are expected in the next few days including one that would weaken regulation of perchlorate, a toxin in rocket fuel that can affect brain development in children, in drinking water.
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Bush can pass the rules because of a loophole in US law allowing him to put last-minute regulations into the Code of Federal Regulations, rules that have the same force as law. He can carry out many of his political aims without needing to force new laws through Congress. Outgoing presidents often use the loophole in their last weeks in office, but Bush has done this far more than Bill Clinton or his father, George Bush sr. He is on track to issue more ‘midnight regulations’ than any other previous president.

Many of these are radical and appear to pay off big business allies of the Republican party. One rule will make it easier for coal companies to dump debris from strip mining into valleys and streams. The process is part of an environmentally damaging technique known as ‘mountain-top removal mining’. It involves literally removing the top of a mountain to excavate a coal seam and pouring the debris into a valley, which is then filled up with rock. The new rule will make that dumping easier.

Another midnight regulation will allow power companies to build coal-fired power stations nearer to national parks. Yet another regulation will allow coal-fired stations to increase their emissions without installing new anti-pollution equipment.

One lengthens the number of hours that truck drivers can drive without rest. Another surrenders government control of rerouting the rail transport of hazardous materials around densely populated areas and gives it to the rail companies.

One more chips away at the protection of endangered species. Gun control is also weakened by allowing loaded and concealed guns to be carried in national parks. Abortion rights are hit by allowing healthcare workers to cite religious or moral grounds for opting out of carrying out certain medical procedures.

Bush’s midnight regulations will:

• Make it easier for coal companies to dump waste from strip-mining into valleys and streams.

• Ease the building of coal-fired power stations nearer to national parks.

• Allow people to carry loaded and concealed weapons in national parks.

• Open up millions of acres to mining for oil shale.

• Allow healthcare workers to opt out of giving treatment for religious or moral reasons, thus weakening abortion rights.

• Hurt road safety by allowing truck drivers to stay at the wheel for 11 consecutive hours.

Bush says F U to the Country and All Citizens

What this looks like, to me, is Bush trying every trick in the book to sabotage the country, the new president, the endangered species act, the FDA, the Federal Environment Agency, and basically making everyone live in a garbage dump.

There is no good excuse, never mind reason, to pass this unless you want to work for one of the companies that will give you a job with them later. This is totally aimed, in my opinion, at Barack Obama, green energy and the value of the wildlife and ecology of North America, all being sabotaged by Bush.

What I cannot figure out is why on earth Bush would want to do this, other than total contempt for his own daughters and their children, the people who live in the rural areas, and above all, the families of truckers who may end up attending the funerals of either the trucker or someone that trucker killed.

Bush, you are one stupid Son Of A Bitch, and the man who threw shoes at you was insulting you, not target practicing.  That action was akin to throwing a used sanitary napkin at your head, with the blood of children, women and others killed on the napkin. Got it?

Legal Solution to Housing Foreclosure Mess?

I decided to do some thinking on this, trying to see if there was a possible solution that is relatively simple. I came up with this one, although I am not familiar with all the legal bafflegab or laws, it may just work.

My understanding is that a mortgage is a contract, and under contract law, if one party breaks it, they can be liable. So, logically, if a bank puts out a mortgage that has the terms of repayment, and states that the bank is the holder of the mortgage, then if that bank “sells” off parts of the mortgage by “repackaging” it, the bank is in breach of contract, and possibly breach of trust.This puts others, such as investment houses, as party to the contract, without your knowledge or consent?

For example: I take out a mortgage on a home, and in the contract it states that I am to repay the bank on terms such as a monthly or weekly payment, and the bank is the sole holder of the mortgage, then if I find out my mortgage was, in fact, passed on to another entity such as a broker, then I am placed in a position of having no recourse. This is apparently what has happened with a lot of the mortgages. Banks made further contracts on my mortgage without my knowledge, agreement, or consent. This, logically, is a breach of contract and I could take that bank to court for putting my mortgage in jeopardy by parties I have no knowledge of, and without my consent. The reasoning I have here is that those unknown parties could well default, or in some other way, cause me to have my mortgage in jeopardy with, perhaps, the collapse of the bank that is holding my mortgage.

If I live in a neighbourhood where a bank and their brokers hold most of the mortgages, and those same mortgages were treated the same way, perhaps there is good grounds for a class action suit.

I do know that brokers, banks, investment houses, and others, all made separate contracts among themselves and with banks. This took the mortgages out of a contract basis between two aware parties and put the people in the houses in a position of being unable to renegotiate their mortgages. It is happening all over the US right now.

Common sense tells me the banks have, in fact, broken all those mortgage contracts unless they did put in clauses where the splitting of the mortgage was stated clearly and those who signed the mortgages knew about these clauses.

Theoretically, the class action suit could go up the chain to the top, including the owners of the banks, the corporations or companies that took part in the splits, and their executives.

I would be curious to see if any lawyer would even consider this idea, and if it is feasible. From what I do know of contract law, which is relatively simplified, I do think this would be one answer.

Personally, if I were put in any position like this, I would certainly try to find out. It may just be worth a few hundred dollars to get an answer here.