Alpha Predator Banks seized 257,944 Homes last Quarter the Highest Number in History

4/16/2010

CHICAGO-(AEAE)-The foreclosure crisis hit a new peak in the first quarter, as banks took back the largest number of properties to date. The number of homes entering REO status (short for "real estate owned" by a bank) climbed 35% to 257,944 — the highest quarterly total ever — from 190,543 in the first quarter of last year and 9% from the previous quarter, according to real-estate data firm RealtyTrac. The increase comes as lenders seized more property that couldn’t qualify under the Obama administration’s Home Affordable Modification Program (HAMP). Foreclosure filings — from notices of default to bank repossessions — were reported on 932,234 homes in the first quarter of this year, a 16% increase from the same period last year and a 7% jump from the previous quarter, according to RealtyTrac. What can be done about the largest seizure of private property in the history of America.? Twenty one State Attorney Generals have sue the largest mortgagor in the U.S. Countrywide Financial for deceptive trade practices, fraudulent loan practices. Countrywide is owned by Bank of America. The Attorney Generals received 8.4 billion dollar settlement which establishes that Countrywide engaged in a pattern of deceptive loan practices and that the foreclosure crisis is not entirely the fault of the Mortgagees. What has to be done to save American home ownership is for property owners to sue the banks for Civil Racketeering, loan fraud, deceptive trade practices. Modeling their complaints after the Illinois Attorney General Lisa Madigan's well plead complaint that generated a 8.4 Billion dollar settlement. The foreclosure crisis can be stopped in a day if every party that was being foreclosed on filed a Civil Racketeering lawsuit against the Banks and their officers. No bank, no matter how big could withstand 1 million Civil Racketeering lawsuits without going out of business. The banks would be forced to offer loan modifications in order to survive. Otherwise the banks remain Alpha Predators and will force American home ownership into extinction. Click on the attached link for the entire story http://realestate.msn.com/article.aspx?cp-documentid=23875844&GT1=35006

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The Bull

4/16/2010 07:58:27 am

understand the ex's attorneys handed your ass in a hand bag in court on friday. Funny you didnt mention that asshole.

You feel your spincter tightening? Here we come to divison 10 fag

Legal Agility

4/16/2010 03:47:03 pm

That situation is going to be remedied, as the pleadings have already been filed to take care of that situation. Sir expect to see the sheriff at your door shortly, wise guy!

Reality

4/16/2010 04:14:39 pm

Listening to you muse like you know anything about the law, Leo, is like listening to the captain of the Titanic give a seminar on maritime safety. You're going to jail again, fat boy, and you know it.

Americans for the Enforcement of Attorney Ethics