Friday, April 6, 2012

The Illegal Foreclosure Machine is destructive to us all!

Foreclosure lowers property value on all properties. 

ALL of us should be alarmed at what is being done to the value of homes nation-wide!

Foreclosures Continue to Bring Home Prices Down

April 3, 2012

OXFORD, Miss., Apr 3, 2012 (GlobeNewswire via COMTEX) -- The latest FNC Residential Price Index(TM) (RPI), released Monday, indicates that U.S. home prices declined steadily in the last half of 2011. Since July 2011, prices on non-distressed properties (excluding foreclosure sales, REO sales, and short sales) have fallen 4.5% - averaging nearly 1.0% per month, according to the RPI -- the mortgage industry's first hedonic price index built on the nation's most comprehensive residential property database that blends public records with real-time appraisals of property characteristics and neighborhood attributes. The persistent downtrends in home prices are driven primarily by conditions in the distressed market where the excess supply of foreclosed and REO properties - many vacant and neglected - continue to place downward pressure on home prices.


Who is helping continue this trend?

How to Skyrocket Your Profits with Distressed and Foreclosure Properties

April 2, 2012

Private Equity Firm Buys 5 Homes Per Day In Race For 'Awesome' Profits

04/ 2/2012

"The top 1% is buying up all the real estate.”

“I’ve never seen it like this before,” Nordine said. “There are so many investors buying right now it’s insane. The top 1% is buying up all the real estate.”

Big-money investors, including Wall Street hedge funds and private equity firms, are positioning themselves to snap up foreclosed homes and convert them into rental units. Billionaire investor Warren Buffett, for instance, said in a recent cable news interview that he would buy foreclosed homes if he could find the right way to manage those properties.,0,6234067.story

Wells Fargo Insiders Detail Foreclosure Fraud Practices: ‘It’s Exactly Like An Assembly Line’

That Wells Fargo has fraudulently processed mortgage documents using a process called robo-signing has been evident for nearly two years, since scandal enveloped the mortgage industry in 2010. That it kept doing it even after the scandal broke has been known for months. The practice, at Wells Fargo and other Wall Street banks, has led to waves of improperforeclosures and a $25 billion settlement with the federal government and state attorneys general.

A new report from MSNBC, however, provided an inside account of how Wells Fargo’s robo-signing department works. Unqualified employees with salaries ranging from $30,000 to $50,000 are given titles like “vice president of loan documentation” so they can sign foreclosure documents. Actual supervisors institute quotas on employees, forcing them to sign a certain number of foreclosure files each day — sometimes telling them they can’t eat breakfast or take lunch until they’re done. Documents required for homeowners to avoid foreclosure were ignored, left sitting on an unattended fax machine.


Is this anything other than an elaborate smash-and-grab?

San Francisco Recorder Claims 99% of LOANs contain irregularities and 84% contain VIOLATIONS OF THE LAW 

Feb. 16, 2012 


What can I do? Start a petition similar to this:

The Governor of OR: Immediate Statewide Moratorium On Mortgage Foreclosures

San Francisco Board of Supervisors Unanimously Passes Foreclosure Moratorium Resolution

Contact your local Occupation through their encampment or web site or Twitter account, to see if they have an Occupy Fights Foreclosures affinity group, or through the national web site!

Remember, if you or anyone you know are in foreclosure, immediately demand an audit!