HOAs Retaliate Against Banks Skipping Out on Paying Maintenance Expenses


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Editor’s Comment: 

Having had the experience of representing Condominium Associations, Cooperatives and Homeowners Associations in Florida on a large scale, I am acutely aware of the pain they feel when “neighbors” don’t pay their monthly fees. The rest of the homeowners must pick up the slack and in many cases there were special assessments against the owners to pay for the shortfall.

The Banks, always playing the game, would get their Judgement of Foreclosure and then postpone the actual sale indefinitely because they could and because they didn’t want the liability of association dues, association compliance etc. So Florida actually had to pass a law that required the bank to start paying maintenance after they received a Final Judgment of foreclosure. Apparently, judging from the article below, that law has been rescinded or eviscerated by the intensive bank lobbying going on in all 50 state legislatures and in Congress.

With the foreclosure crisis desiccating entire neighborhoods, it sometimes comes down to a handful of homeowners who are paying the tab for the maintenance of the entire complex. So those homeowners, who were now on the Board of directors of the association jumped in and are now getting the benefits of self-help through renting abandoned homes and condos as though they owned it. In some cases they are turning a profit, attracting new buyers in and getting a pretty good bang for their buck — if they do it right.

You might remember the uproar that occurred when I reported that a number of people were making this situation  into a business model: by renting out at lower rates homes that were abandoned by both the homeowner and the “bank” or other pretender lender that put the home into default and foreclosure, these “entrepreneurs” are making money on assets that don’t belong to them.

That is a bad thing, right? Only if you are not a bank or pretender lender who are doing exactly the same thing. If a non-creditor took title to property by submitting a credit bid, then they don’t have real title. Whether they sell it or rent it out, they are making money off of an asset that was never owned by them and in which they never had any financial interest, risk or loss.

That of course is the problem with the corruption of our title system, and the failure of due process, especially in the non-judicial states where foreclosures are routinely processed on behalf of non-creditors who submit “credit bids” at auction. My answer as previously posted, is that the HOA and the homeowner should collude with each other the same way that the substituted trustees collude with the pretender lender. The  homeowner falls behind in payments causing the association to sue for those payments and to foreclose on the lien. The lawsuit names the homeowner and all other lenders on record reciting in the pleading that the existing mortgage on record has been satisfied or abandoned.

We all know that in many cases the lender of record is a sham corporation that was created to front as straw-man for the real lenders (investors). So the court enters a default against the lender of record, and then awards judgment to the association along with a sale date during which period the homeowner redeems the property with a settlement agreement in which the court quiets title to the homeowner.

At that point, if any party wishes to foreclose, whether they are in a judicial state or otherwise, they must proceed judicially by pleading and proving that they were a real party in interest and that they should have received notice of the foreclosure by the Association. In many cases, where it is institution versus association or another institution the same arguments advanced by homeowners are advanced by the association or institution.

The difference is that the argument coming from a creditor is taken far more seriously by the courts —- all the way up to the Supreme Court of the state (like the Landmark case in Kansas). In all such cases I have reviewed, the court found and was affirmed in its finding that the foreclosure by the first creditor to get to the mat won the case. This is one of several reasons why I have given my permission to start a national law firm rolling out into all 50 states. In a word, “if you want something done right, you have to do it yourself.”

Canceled foreclosure sales saddle neighbors, HOAs with expenses

By Mark Puente

Kathy Lane envisioned a picturesque neighborhood with tree-lined streets when she moved to FishHawk Ranch in 2004.

These days, she stares at an eyesore.

Two doors away, the back yard of an abandoned home overflows with trash; rain pours in open windows; weeds have overgrown the lawn. The pool, filled with black muck, draws swarms of bugs.

“I was expecting well-kept yards,” Lane said. “I live two doors from a dump. If it goes up in flames and catches our house on fire, who is responsible?”

The foreclosure crisis has littered the region with thousands of abandoned homes. The houses sit idle as banks have been slow to seize them in the final stage of the foreclosure process, the public auction.

Although recent headlines proclaim the worst of the housing crisis is over, the decrepit homes are a constant reminder that cleaning up the foreclosure mess remains a work in progress.

The house on Lane’s street in Lithia went into foreclosure in 2008 and has been vacant for more than a year. Aurora Loan Services had set an auction for February but canceled it.

It’s an oft-repeated pattern.

In the last 12 months, lenders have canceled auctions on 4,204 properties in Pinellas and Hillsborough counties. Sales have been canceled two, three, even nine times on some homes.

In many cases, banks delay seizures to avoid having to pay maintenance bills or homeowner association fees. Meanwhile, neighbors fend off vandals and thieves and worry about property values falling because of the deteriorating houses.

The repeated cancellations burden the court system.

“These never seem to go away,” said Thomas McGrady, chief judge of the Pinellas-Pasco County Circuit. “It’s a nuisance.”

Taxpayers also pay for the delays.

Hillsborough Circuit Judge Herbert Baumann Jr. said the Clerk of Courts’ workers spend hours filing paperwork when banks repeatedly cancel auctions.

“It does create more work,” he said. “Clerks do expend a lot of resources on this.”

• • •

No neighborhood is immune.

Even the tony streets in Tampa’s Avila and St. Petersburg’s Snell Isle have “lost houses.”

While the homes sit in limbo, homeowners associations lose money when lenders delay taking titles. The associations may mow lawns and make minor repairs, but that forces other residents to shoulder higher assessments.

Associations have few options to force lenders to sell the homes.

HOAs can seize properties through foreclosure when owners stop paying monthly assessments. Some go a step further by renting out the seized properties to recoup lost dues. Still, those actions cost the associations thousands in legal fees.

Lane, the FishHawk Ranch resident, is baffled by the banks’ inaction.

“Every day you expect a poltergeist,” she said. “We have to live here.”

She isn’t alone.

Tampa-based Rizzetta & Co. manages more than 100 community associations with 32,000 homes in Florida, including most associations in FishHawk Ranch. The firm has been deluged in recent years with calls about the abandoned homes and delinquent assessments.

Pete Williams, a Rizzetta manager, attributes the canceled auctions to money.

“The banks never want to take ownership,” he said. “They have to pay the fees going forward. The costs are considerable.”

Even McGrady, the Pinellas-Pasco judge, believes money is behind the canceled sales.

“After a while, you begin to question their motives,” the judge said.

• • •

On the flip side, some experts contend that the banks’ slowness helps stabilize the real estate market. Putting thousands of homes for sale at once could depress prices. Letting them trickle to the market brings higher prices.

And some cancellations occur because lenders and homeowners agree to loan modifications or because homeowners and defense attorneys find errors in bank documents.

The cancellations are currently down in Hillsborough and Pinellas. But that’s because lenders halted foreclosures in late 2010 amid allegations they used robo-signers and false documentation to speed up the foreclosure process.

Still, the delays have allowed some owners to live free for years and dodge assessments.

In June 2009, a Pasco judge granted U.S. Bank a final judgment to seize a home in the Valencia Gardens subdivision in Land O’Lakes. U.S. Bank scheduled the auction for September 2009 but has canceled it eight times. The most recent cancellation occurred last month.

The homeowners have lived in the home but have not paid dues to the Valencia Gardens Homeowners Association. The association is objecting to the cancellations and has asked a judge to order the bank to sell the home. Thirty-eight delinquent homeowners owe the association $56,000.

The shortfall has forced the HOA to convert water fountains into flower beds and to scale back on other projects, said Gail Spector, the president.

The group began cracking down on delinquent residents last year by threatening foreclosure lawsuits against them. Spector knows residents have lost jobs but said other homeowners shouldn’t be burdened with the unpaid dues.

“You have to treat everybody the same,” Spector said. “We are fixing and paying for everything. That’s not fair.”

Leonard J. Mankin, a Clearwater-based law firm, represents hundreds of associations across Florida. Attorney Brandon Mullis has asked a judge to sanction U.S. Bank and to force the sale of the home in Valencia Gardens.

It is now common, he said, for banks to cancel auctions seven or eight times in many foreclosure cases.

Mullis questions why lenders file court documents saying they are “negotiating or reviewing for possible loss mitigation options” when the houses have been vacant a year or longer.

He is fighting another case in Palm Harbor. The Bank of New York Mellon has canceled seven auctions — even though the homeowner defaulted on the mortgage in 2008. The bank canceled the seventh auction in February because it wanted to exhaust options to prevent the foreclosure.

Mullis scoffed.

“This action leaves the burden to fall on those neighboring residents who are forced to pay higher assessments while the property next door further deteriorates,” he said.

The Florida Bankers Association disagrees.

Anthony DiMarco, executive vice president, said lenders are overwhelmed with thousands of foreclosures and aren’t cancelling sales to skirt maintenance and assessments.

“They are trying to move cases forward,” he said. “We’d rather keep people in homes.”

31 Responses

  1. Enraged : It was before the settlement .
    My major question was : How Corelogic work together with Chase ?
    because the are business partner , at least on the web. Corelogic
    tells Chase what your home is worth , and Chase tells you : YOU ARE UNDER WATER , even I can proof , that I invest more than $ 30,000.00 of CHASE HELOC MONEY in my home. I also invested more than
    $ 40,000.00 Heloc money in my business building (S-Corp ) what is now half finish , because =HELOC closed . I think the class action
    will bring a little light in this HELOC system.Breach of contract should be on the first place .I would never take this money , if I know the would cut me off , w/o any reason.

  2. This is a fake address. 1 Corelogic Dr., Westlake, TX 76262 – this address listed on Zillow is a house, but when you pull up addresses on zillow they have the houses in the area listed on a map. There are no houses or bldgs. listed at this address on the map.

    Corelogic also has another fake house address listed on zillow as 1 Westlake Dr. Westlake, TX 76262. This is on my tax records.

  3. Neil,

    I second JenninGA.

    What is known about Corelogic?

  4. @ ALL and Neil this includes you of course too – any info or experience with corelogic you could share – would be very appreciated!!!

  5. @JennieGA,

    I get the same impression.

    There is something very strange (shall I say worrisome…?) about Corelogic. It’s like deja-vu all over again. Remember when people were mentioning MERS with respect to titles? it took a long time for people to really consider it as a major part of the puzzle.

    Get the same queasy feeling about Corelogic.

    Don’t like it. Hence my harping on it.

  6. @ Enraged

    Last fall (September) do you remember when “Freddie” filed that long complaint against Credit Suisse Bank and others for selling them all the trusts?

    Well from their complaint I found the trust my loan was put into and the date the trust (FHLT 2005-E) was sold to Freddie. I found a lot of helpful information in those documents.

    I found my PSA and learned more about who was involved in the creation of this “trust”

    (Off topic)I doubt my loan was ever properly transferred into that trust and I have many documents that support if it ever was in the trust it was removed early on from the trust.

    I contacted Freddie – they said they do not own the loan. I contacted the Master Trustee and they say they can’t discuss this with me. I ended up calling the law firm that filed the complaint because I was getting nowhere and all I wanted to know is when was my loan removed and how was it noted (was it traded out or was it noted paid in full?)

    The law firm called me back – they could not help me – I emailed a higher up at the firm and again explained why I needed the info – again he could not help me – when I asked – any suggestion on who could I go to in order to get this information – in his email he said sorry he could not help me and I may want to inquire with corelogic!

    I found a main number for corelogic online and they were strange when I called – like they had no clue what I was talking about – they said they would have someone call me but when someone did, it seemed like a sales person who called and we had a very confusing mixed up conversation that let nowhere.

    I know nothing about corelogic – your mention of them reminded me of this – I think they are a bigger part of the puzzle just not sure how they fit or how I can get the information I seek from them.

  7. @DCB,

    And the word is “erratic”. Damn foreigners who come to this country to eat Americans’ bread and butter and don’t even bother learning the language!


  8. @DCB,

    For the same reason homowners don’t fight foreclosure, media don’t talk about serious issues, Obama doesn’t tackle what should be a priority, bankers haven’t been prosecuted and global warming hasn’t been curtailed by focusing on alternative energy: a complete inability on the part of the American people to make long term predictions, unlike Asia or Europe.

    Everything in this country is “right now, this very minute”.

    BUT I wouldn’t qualify the stock market as “placid”. I would say that it is completely herratic withing certain pre-established boundaries. That explains gas prices going from 3.34 to 3.97 and back to 3.38 within any 24 hours time span. On average, it looks stable and placid since the ups don’t last. in fact, for the poor guy who gets caught empty when gas is at the highest, and realized that, had he waited 2 hours, he would have saved $10.00, it is not placid. it is enraging.

    I’m like you: I can feel something is brewing worldwide but i can’t yet put my finger on it. Whatever it is, I hope it is good news. That’s why I keep insisting on it.


    Yes todays WSJ—ok though if this is all true and im not denying it–then why is the stock market so placid?

    want to hear your opinion–please –im curious

  10. Chase Home Finance LLC
    JP Morgan LLc

    The LLC is a state approved one-member corporation that is actuall an unincorporaorated division of a bigco. It is a tax creature that IRS does not consider to have separate existence–but under state law dos—thus the parent can case a state level divisu=ion to file bankruptcy–escape liability—-while federal authorities ignore it

    Thus i looked at the Ohio Secretary of state listings because i was curious about your issue–iv run into it on another like these—different stripes but still a zebra. —–I did some quick and dirty checking and ohio as an exemption from registration for banks that are “NA–ie National Associactions” ——-i dont know if this is constitutional –ie states have no power to regulate such creatures—or statutory—won by lobbying—but it would mean that the New York parent may be the only registed entty—–and if it is acting as trustee see ORC 5810.10

    i think its that–basically a trustee is exempt from civil liability for say state law violations—-for consumer protection breach of contract etc—-onlt the trust estate itself is liable–im sure if the trustee is self-dealing in some way you can maybe get around this but superficially if there is actually a trust———they can breach agreements at will and get away with it—the investors lose—–the investors may have a claim against the trustee for fiduciary breach but not you—-you must sue the trust if there is one—-and these aere liquidating and will soon be wound up—bulletproof—-

    basically you must establish there is no legal trust–itts a sham–often a tax sham——so you need to know if the loan schedule was filed–were assets entrusted to the trust?

    did the purported settlor follow the rules in creating the trust–or was it just a lousey attempt to create an off balance sheet set of accounts?

    what kind of a deal do you have if you make a contract with a thing that is evaprating before your eyes–if the servier breaches mods or settlements of any type—in the name of the liquidating trust–where are you?

    the answer i think is you must get a surety bond–or the promises you get are no more concrete than a puff of smoke

  11. Typically in the wake of massive currency devaluation by printing of $$$ etc—-and a period of no interest—-low interest—the 1st thing that happens at the cessation of printing is that interest rates go up—hark back to the post Vietnam interest rate escalation cica 1977-1980

    When interest rates ho up –bond value falls precipitously—along with the recognoition that curreny is devalued. The way you can tell if currency is devalued is to compare th price of staple goods—food–oil

    when these things are high its not because there is a shortage—not persistantly anyway—-but because the $ is really worth less——–it could usually be observed by comparing against other currencies–but over the past three years there has been concerted action by all central banks to print money—i do not think canada is printing as fast–so it is going up staedily against US dollars——

    its really tough to find a place to put money—–bonds are a guareneed loser unless floating and deep pocket blue chip—–stocks ???——earnings could go south fast—–maybe thas wh the record price for a painting was paid today $127 million —just think if you are concerned about saving your nest egg what kind of heartache a multi-billionaire must face—each and every day he wakes up fearing he could have slif from om having two billion to just one—-true anguish

  12. @Eule,

    Was your complaint before or after The Big Settlement that never settled anything?

    Never mind. Moot point. Like every point homeowners have trying to make for 7 years. But it is changing. What matters is not that a few can answer the questions but rather that the many do ask them. Any two-year old knows that. Why? Why? Why? They can wear out any adult. We need to turn ourselves into two-year olds…

    Why? When? Who? How? Where? Why? Why? Why/ WHY???????
    Until someone gutsy enough comes up with the only answer we want ‘cuz we know it is the only true one: because some people want more, more, more, more, more, more. And they’ll do anything to get it.

  13. @Jan van Eck,

    Actually, when i originally sued, it was still Chase Home Finance LLC. A few months later, once Chase lost its motion to dismiss, they did amend their answer to reflect that the defendant is JP Morgan Chase. So, my fed. case is still under Chase Home Finance because filed as such but it is understood that JP Morgan Chase is the actual defendant.

    Needless to say, I am preparing to ask the tough questions such as: “How did you end up as the defendant. Walk me through step by step into the procedure(s) followed to go from Chase Home Finance to JP Morgan Chase. Show me the paperwork.” Never mind that there is absolutely not one piece of paper transferring my loan from the previous servicer to Chase Home Finance. There is even less paperwork tying me to JP Morgan Chase and i will show it.

    Chase Home Finance stole from me. A lot. I want to see under what terms and conditions JP Morgan took those assets over. My case is going to evolve. In a short time, the list of defendants will increase anyway and I makes a lot of sense to go after every entity involved, including Corelogic.

    Friggin’ full time job!!!

  14. Enraged= I send a complain to the Florida State Attorney , and ask to investigate , how Corelogic and CHASE work together in the Home prices ,because Corelogic link is on CHASE web and give you the
    RIGHT PRICE . There was no result in this case .

  15. @ENRAGED
    “The current owner is me (of course). But… the address is… Chase Home Finance LLC, 1 Corelogic Dr., Westlake, TX 76262. (Same document printed last year shows a different address). ”

    If i understand correctly –you are referring to your real estate tax billis. So you are the “owner” of record in the county auditr’s office, but the taxpayer [by escow agreement] is Corelogic ?

    Correct? and it happens to be in one of these clusters of financial activity–like jacksonville re AHMSI and LPS et etc——also one in Houston ——I wonder how many of these clusters there ae and if they are really just nameplates on the same office—-i had experience back in the 90s with a Caymani law office that served as the base for 1000 companies —each with a different address but each address being physically represented only by a brass plate on the wall of the reception area. Now that was a blatant sham—a tax avoidance device. It was designed to avoid US state taxes—and the nameplate thing was pretty much set up on basis that it was unlikely that a state auditor would be able to actually visit the site to determine if ther was a real physical presence there. I believe that one company with which i was familiar considered the nameplate to be inadequate because there would be no physical asset on the balance sheet for the sham company–so it bought a desk and chair from the lawfirm —in reality the board of directors met at the office once a year and that was pretty much the whole of it —-others didnt go that far.

    the Texas thing is similar—-texas has no income tax so companies will do the nameplate thing there too———ic seen it in delaware also——-in delaware you had to acrually have an employee sit in the chair—nothing to do –just show up and sit there——–that avoided tax on intangible income fro intercompany loans—–ie your operating company would have nill capital –a huge loan in favor of the delaware or caymani corp ——-and get a big deduction for intercomany interest booked to the sham —and the sham since it was in a tax haven paid no income tax–it was like printing money

    so id be thinking that may be involved here–so if you want to put a stick in their spokes–go check their physical presence in txas —–get a look at the intercompany books–figure out where their REAL base of operations is–and turn in the sham operation to the home base tax authorities–if they care–some do some are happy just to get the taxes on payroll and this is a cute device that they use to exempt financial companies from tax–and shift the tax burden to manufacturing companies –except see my caymani –delaware capital strip???

    a 2nd thought comes to mind–when it comes to a sheriff telling a buyer to whose name a check should be written when your home is foreclosed –they do not look to the deed –which may have a fake trust thing on it to reflect the name of the party on the complaint –or also if there was say a deed in lieu etc—–they look to who is the taxpayer——–this is where it appears to me that the servicer collection agency actually steals the proceeds from the beneficiaries of the trust——or the concept that the trust had an interest is laid bare—–the proceeds check goes directly to the taxpayer—–instead of the bank trustee——–check it out—-im sure the practices vary widely–if they have a stickler at the county couthouse they will 1st file a POA—then “convert” the proceeds–if no POA–it sure looks like theft—but the bank trustee either does not know or does not care –see for example the following statement of fiduciary care that is on the 1st page to an online investor site by a major bank trust office

    –bear in my mind the investors are supposed to be evaluating the information for use in making investment decisions;
    This to me is pretty much an admission of lack of fiduciary responsibility—–it seems to be the position that the banks are taking with respect to investors—-this same entity would the plaintiff in whose name your house is seized “as trustee” for the investors—-and they are bolder than brass about it——-there is no enforecement–there is nobody tending the store or they would not be this bold–this disclaimer is proof of the pudding

  16. My mom inherited some money from a friend who passed away—and got a financial planner for the first time in her life…he told her the only safe thing are bonds…because the whole financial system is crashing…

  17. to “ENRAGED:”
    The business unit “Chase Home Finance LLC” is no more; the new name of this reincarnated entity is now “JPMorgan Chase, LLC.” the location of Incorporation is unknown to me even after considerable searching. The principal place of business is apparently 800 Brooksedge Road, Westerville, Ohio 43081.

    The same people that used to work as “Chase Home Finance” now work as “JPMorgan Chase LLC.” In doing some digging on Chase, I have uncovered dozens and dozens of these “Chase” entities, all sub-entities designed to obfuscate and confuse, and of course to screw over the tax collectors.

    Sue them all. Bury the bums in lawsuits.

  18. http://www.wealthbriefing.com/html/section.php?region=Asia%20Pacific&subject=People%20Moves

    Yep. Economic news are piling, with more and more resignations.

    And by the way, this time is the first ever all central banks have to print
    money to try saving face and paying countries’ huge debt. Let’s not even talk about jump starting the economy: countries are barely paying the interest on their debts from paper money not worth a rabbit’s pellet!

    It HAS to blow. No two ays about it. “cuz not one of those economic brains appears to know really what to do…

  19. Yves Smith a tad burnt out. i can relate…


    Thursday, May 3, 2012
    Links 5/3/12

    I am up until 6 AM. This has to stop. You will have to resign yourselves to fewer than normal posts over the next few days as I try to get on a more normal sleep cycle.

    New Particle Discovered at CERN Science Daily (furzy mouse)

    Matters of the Brain: Why Men and Women Are So Different Live Science (Aquifer). I’m putting this up even though this sort of thing annoys me no end, since it just promotes stereotyping. To personalize this a bit, one of the things the article goes on about is how men are better at spatial visualization. In aptitude tests, I have scored better at that than on ANY other skill. Grr. The wisest thing I think I have ever heard said on this topic is: “With groups as large as men and women, the difference within each group are greater than the differences across groups.”

    Large-Scale Analysis Finds Majority of Clinical Trials Don’t Provide Meaningful Evidence Science Times (John M)

    Is rationality the enemy of religion? Nature (furzy mouse)

    How to Muddy Your Tracks on the Internet New York Times

    No More Secrets Keen Talks (Aquifer)

    Is the ‘obesity lobby’ winning? Grist (Aquifer)

    Geithner Decides to Focus on Business Concerns at the Expense of Workers in Negotiations With China Dean Baker, Firedoglake

    Activist Chen Guangcheng: Let Me Leave China on Hillary Clinton’s Plane Daily Beast (Mark H)

    Jobless Rate Reaches New High in Euro Zone New York Times

    ECB May Soften Stance as Draghi’s Recovery Falters Bloomberg

    “We Did Not Choose This War” and Other Hypocrisies David Swanson, Firedoglake

    Who Determines Short Term Interest Rates? jazzbumpa (Angry Bear)

    Wells Fargo’s Market Share of U.S. Mortgages Tops 33% Bloomberg

    ‘Dr’ Summers performs a medical miracle James K. Galbraith, Financial Times

    If “Anarchists” Threaten to Blow Up a Little-Used Bridge Over Federal Property, Is It a Plot? Marcy Wheeler (Lambert)
    Is Europe in a Depression? MacroBusiness

    Morgan Stanley Banker Charged With Hate Crime Waives Right to Jury Trial Wall Street Journal (Andrea)

    Progress Is Seen in Advancing a Final Volcker Rule New York Times

    Accusations That Police Tried to Spy on Wall St. Protesters New York Times. Note the police justification: comparing OWS to gun-toting gang members. Help me.

    Short-Term Fixes New York Times. An editorial on student debt.

    Hatred transformed: How Germans changed their minds about Jews, 1890-2006 VoxEU

    * * *
    D – 128 and counting*

    Well, what the hell’s the presidency for?” –Attorney General Lyndon Baines Johnson, 1963, quoted by Robert Caro.

    Bill Clinton reviews Caro’s book on LBJ. Krugman publishes book on the D economic narrative and the “lousy economy”, recommends strategery: Blame the Rs. Shocker! Obligatory campaign season presidential bio, Barack Obama: The [sic?] Story. But who’s the real “composite”, anyhow?

    Kabul campaign swing follow-up: Bloom no longer 100% on rose for Charles Pierce; here, then here. Not so D strategist Begala: “Obama should get great credit for a triumph which happened because he did his job with rare bravery.” Hire that man! And so what if OBL got whacked without any due process? The same thing could happen to you and me, too, so what’s not to like?

    A photo with Obomney costs $1500. Rove’s “being cool is bad” attack ad sank without a trace. Obomney won’t go on SNL. Obomney says Robama’s like Jimmy Carter. Shorter Obomney: I’m a Bain consultant! Shorter Obomney: To get rich is glorious! Shorter Obomney: I’m not Robama! This pudding has no theme! Oh, and the Daily News gets it partly right on R animal abuse. But you got the full list here first.

    Robama’s more popular than he should be. Except among the kleptocrats whose bacon he saved and whose frauds he enabled. Why, the ingratitude! And Robama whacked OBL, so he can’t be swiftboated! (An overly literal interpretation of swiftboating, IMNSHO.)

    In 2016 prequel, Elizabeth Warren (D): CFBP is “already working to cut the fine print and hold those banks accountable.” Oh, bullshit. Holding “those” banks accountable doesn’t mean simpler forms. It means bankster CEOs in orange jumpsuits doing the perp walk for accounting control fraud. Then Warren blasts Scott Brown (R) (“H-Y-P-O-C-R-I-S-Y”) for putting his daughter on his Senator’s insurance under ObamaCare. Brown fires back, saying he could have done the same thing (even though he didn’t) under RomneyCare. What neither candidate can admit: ObamaCare is RomneyCare. They both come from the same Heritage Plan — so Brown’s a hypocrite for going all coulda woulda shoulda, but Warren’s a worse hypocrite for playing legacy party kabuki with ObamaCare’s R policy roots. Can’t they both lose? Oh, and here’s the D PowerPoint on ObamaCare. Disinfect afterwards.

    The Greens could qualify for matching funds. Looks like Ron Paul took a page from the 2008 Robama campaign, and focused on mastering the caucus machinery. MA. LA. AK. NV. Floor fight?! The WI Walker (R) recall is a dead heat, despite Walker’s massive out-of-state fundraising. Nice to see the national Ds giving their all on this. Oh, wait…

    – Horse race-related tips, links, hate mail to lambert

    * 128 days ’til the Democratic National Convention ends with a giant potlatch in Bank of America Stadium, Charlotte, NC. The first Mac had 128K (and not Meg) of RAM. Cross-posted to Corrente.

  20. These are today’s news.


    News Links, May 3, 2012

    ## Global Ponzi meltdown/House of Cards ##
    Italy’s unemployment rate hits a 12-year high in March
    Euro zone manufacturing downturn deepens in April: PMI
    “The euro zone’s manufacturing sector slipped further into decline last month as a downturn that started in the periphery appears to be taking root among core members France and Germany, a survey showed on Wednesday.”
    European Unemployment Rate Rises to Highest in Almost 15 Years
    German Jobless Unexpectedly Up in April as Crisis Flared
    This Is the First Time In History that All Central Banks Have Printed Money at the Same Time … And They’re Failing Miserably
    Australia house prices fall for fifth quarter, rate cut looms

    ## Airline Death Spiral ##
    Spirit to charge passengers $100 for carry-on baggage
    Lufthansa Loss Widens on Slowing European Economy, Fuel
    Asian airlines post 47 percent fall in 2011 profit
    Iata: Oil prices hit airlines hard

    ## Fault lines/flashpoints/powder kegs/military/war drums ##
    Unknown attackers kill six at Cairo protest
    Obama in Afghanistan: Defeat of al-Qaeda is withing reach
    Politicians are so full of BS that they stink even over the internet. — RF
    Explosions, shooting heard in Afghan capital
    “A suicide car bomber and Taliban militants disguised in burqas attacked a compound housing hundreds of foreigners in the Afghan capital on Wednesday, officials and witnesses said. The Taliban said the attack was a response toPresident Obama’s surprise visit just hours earlier.”
    Nigeria’s graveyard of ships (gallery)
    Israel To Receive Fourth Dolphin Sub

    ## Global unrest/mob rule/angry people/torches and pitchforks ##
    In pictures: Occupy Wall Street protests

    ## Energy/resources ##

    New attack on electricity lines in Yemen
    “Ever since last year’s uprising Yemen has been plagued by attacks against its electricity network, leading to lengthy blackout and severe disruption within its industries, as companies have had to rely on alternative means to power-up their factories or businesses, hence pushing up costs.”
    Test successfully pulls natural gas from Alaskan ice
    “Harvesting methane hydrates remains in the research phase, though, and much more needs to be worked out before it’s clear whether the process is economically feasible.”
    Bolivia nationalises Spanish-owned power grid
    “Bolivian troops occupy installations owned by Red Eléctrica, following Argentina’s move to nationalise oil company”
    Indonesia plans upto 50% export tax on Copper, Gold, Silver ores
    Oil and gas industry facing manpower shortage

    ## Got food? ##
    Iraq’s sagging safety net
    “In a country with huge potential oil wealth, food rationing and distribution is keeping much of the population alive.”

    ## Environment/health ##
    U.K. doctors back ‘lifestyle rationing’
    “A majority of doctors support measures to deny treatment to smokers and the obese, according to a survey that has sparked a row over the NHS’s growing use of ‘lifestyle rationing”.”

    ## Intelligence/security/internet/systemic breakdown ##
    Attack on Iran’s Oil Industry Ups Cyber Warfare Stakes
    NYTimes Realizes That The FBI Keeps Celebrating Breaking Up Its Own Terrorist Plots

    ## Japan ##
    Japan could face “day of reckoning” if tax plans fail: Moody’s
    “Japan could face ‘the day of reckoning’ sooner than expected if the government fails to raise the sales tax and investors demand higher returns on government bonds, Moody’s Investors Service said on Wednesday, keeping up the pressure on Tokyo to enact tax reform bills.”
    Power Shortages Expected in Japan
    “The Japanese government expects potential electricity shortages in Tokyo as well as in the Kansai and Kyushu regions this summer as the country debates whether it can make it through the peak demand season without nuclear power for the first time since 1965.”
    New Estimate Sees 15% Summer Supply Shortage At Kansai Elec
    Tokyo raises Y76 mil in donations to buy disputed islands
    Over 25% of Japanese in their 20s have considered suicide

    ## China ##
    China Manufacturing “Expands” at Faster Pace; China Manufacturing “Contracts” 6th Consecutive Month; Confused by Conflicting Headlines? (Mish)
    China’s Looming Conflict Between Energy and Water
    “In its quest to find new sources of energy, China is increasingly looking to its western provinces. But the nation’s push to develop fossil fuel and alternative sources has so far ignored a basic fact — western China simply lacks the water resources needed to support major new energy development.”
    Chinese Steel industry suffers quarterly loss first time in 10 years
    Chanos: Beware of China’s ‘epic’ property bubble

    ## UK ##
    Rise in level of poverty among working households in NI
    Argos and Homebase owner sees sharp fall in profits
    “Annual profits at Home Retail Group (HRG) have dropped more than 60% after profits at its Argos chain were hit by weak demand for electrical goods.”
    Households may be forced to get water from standpipes in streets, warns minister
    “Households may be forced to get their water from standpipes in the street if England endures another dry winter, Caroline Spelman, the Environment Secretary, has warned.”

    ## US ##
    No-Fly Zone To Be Enforced By Shoot-To-Kill Order During NATO Summit
    Wealthy Americans Queue to Give Up Passports in Swiss Capital
    San Antonio hit with Stage Two water rationing
    Private-sector hiring slows in April, stirs concern
    “U.S. companies hired the fewest people in seven months in April, a worrisome sign for a labor market that has struggled to gain traction and adding to concerns that the economy has lost some momentum.”
    Baby Boomers’ Money Troubles: They’re Worse Than We Thought

    Also, yesterday alone, I found at least 10 bank resignations. It looks to be picking up…

  21. UPDATE 1-BofA exodus continues as top MENA banker resigns

    Thu May 3, 2012 11:49am BST

    * MENA investment banking head El-Amir resigned -source

    * El-Amir ran BofA’s MENA investment bank since 2008

    * Several Merrill veterans have left bank recently


    I am still monitoring that part…

  22. @DCB,

    Off topic, to a point (bank shenanigans, whatever their form, is never quite “off topic”).

    Remember a few weeks ago when I ranted about Corelogic?

    Well, it just happens that i had to print something from the tax assessor’s website in order to fight my tax increase tomorrow morning. And what did I discover? The current owner is me (of course). But… the address is… Chase Home Finance LLC, 1 Corelogic Dr., Westlake, TX 76262. (Same document printed last year shows a different address).

    Don’t anyone tell me that Corelogic is not a BIG part of the problem! I keep saying that Corelogic is to money what MERS is to documents. Is anyone going to look into it?

  23. Then the HOAs and foreclosed homeowners should each file a lis pendens against the property (since lis pendens cannot be removed without judicial order, or they expire after 2-3 years in most cases) and hold up any foreclosure sale, real estate sale, etc., unless and until the lis pendens is addressed. This way HOAs and homeowners could probably get 2-3 years (or more depending on a state’s lis pendens laws) free and clear rent out of the foreclosed property purportedly not “owned” by the HOAs or former homeowners.

  24. It must be underscored that notarization by a notary public converts a private document into a public document, making that document admissible in evidence without further proof of the authenticity thereof.”
    There are quotes there–what is this quoting–im not sure i buy it—the notary just affirms the person signed–nothing to do with the document’s admissiblity—i could create a statement “dcb is the owner of the moon and its made of green cheese—get the signature notarized———doent make the document true—i can say “i swear i overheard george tell joe that he heard on th street that aliens own nyc”—–get my signature notarized–nothing is necssarily true or admissable

  25. “Even McGrady, the Pinellas-Pasco judge, believes money is behind the canceled sales.

    “After a while, you begin to question their motives,” the judge said.”

    Yep. It sure is taking a while. A looooong while.

    Judge McGrady, it is the money. It always was the money. Where have you been all this time? In America, it is ALWAYS the money. Speaking of which, have you checked on your pension fund lately? It is 3:00 am: do you know where your retirement is heading? While you’re sleeping, the banks steal.

    “The Florida Bankers Association disagrees.

    Anthony DiMarco, executive vice president, said lenders are overwhelmed (Hey! Whose fault? I didn’t overwhelmed them. E.Toile didn’t overwhelmed them. Matt Weidner didn’t overwhelmend them. So, who did? Huh? What? Come gain?) with thousands of foreclosures and aren’t cancelling sales to skirt maintenance and assessments (like hell they aren’t! And with the blessing of the new-and-improve OCC rules regarding taxes and maintenance of foreclosed properties).

    “They are trying to move cases forward,” he said. “We’d rather keep people in homes.”

    Everybody is trying to “move forward”. Including Obama… It’s his new slogan: “Forward”. And everybody is “trying’ to keep people in their homes”. Including Obama.

    “Change we can believe in” didn’t pan out. I used to be a believer. Got cured real fast. “Forward” is going to reveal a real doozy as well. Forward, compared to what? The backward we’ve achieved in such a short time?

    McGrady, have you heard that, in this country of 320 million people, there are 290 million privately-owned firearms? Any idea why?


    SACRAMENTO (CN) – Nine condo residents claim Taser-toting
    private security guards burst into their homes at 3 a.m. and
    assaulted them, forcing them into the street in their underwear,
    in a foreclosure the residents had never been informed


    The wild west is still alive .

  27. @ nabdullah ,

    That link is to a case in Cotabato City in the PHILIPPINES which is what the “.ph” after the “.gov” indicates … I am interested in what you wrote.. do you have the correct link?

  28. @ ALL

    You guys familiar with this? Trying to nail down, “acting within his territorial jurisdiction”, (NY Real Property Law §299).


    “The act of notarizing documents outside one’s area of commission is not to be taken lightly. Aside from being a violation of Sec. 11 of the 2004 Rules on Notarial Practice, it also partakes of malpractice of law and falsification. [30] Notarizing documents with an expired commission is a violation of the lawyer’s oath to obey the laws, more specifically, the 2004 Rules on Notarial Practice. Since the public is deceived into believing that he has been duly commissioned, it also amounts to indulging in deliberate falsehood, which the lawyer’s oath proscribes. [31] Notarizing documents without the presence of the signatory to the document is a violation of Sec. 2(b)(1), Rule IV of the 2004 Rules on Notarial Practice,[32] Rule 1.01 of the Code of Professional Responsibility, and the lawyer’s oath which unconditionally requires lawyers not to do or declare any falsehood.
    * * * * * *
    That Atty. Quintana relies on his notarial commission as the sole source of income for his family will not serve to lessen the penalty that should be imposed on him. On the contrary, we feel that he should be reminded that a notarial commission should not be treated as a money-making venture. It is a privilege granted only to those who are qualified to perform duties imbued with public interest. As we have declared on several occasions, notarization is not an empty, meaningless, routinary act. It is invested with substantive public interest, such that only those who are qualified or authorized may act as notaries public. The protection of that interest necessarily requires that those not qualified or authorized to act must be prevented from imposing upon the public, the courts, and the administrative offices in general. It must be underscored that notarization by a notary public converts a private document into a public document, making that document admissible in evidence without further proof of the authenticity thereof.”

  29. Banks seek to compel IRS to become a co-conspirator in tax evasion schemes where the purpose is evasion of foteign countries’ income tax on wealthy depositors and tax shelter participants.


  30. Bank reps are lying. If they were working to keep homeowners in the homes or on modifcations and settlements, the homes wouldn’t be deteriorating. The fact is the banks just don’t care about these neighborhoods which is very short sighted indeed. Criminal prosecution or the very real threat thereof is the only, I repeat only, way these banks will step up. Even the financial benefits or work outs, modifications and improved home prices are flaccid motivators.

  31. people need to work WITH each other and not AGAINST each other !!!….too many lowlife scumbags only looking out for themselves and we will all go down together

    the HOA and homeowners should be on the same side and go to court and beat the bankstas every time……the HOA gets the money owed to them and the homeowners gets to remain in THEIR houses

    actually everyone should be putting liens on their OWN houses as we speak……..what am i missing……

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