PBS Looks at the Human Cost of Rising Foreclosures

Two things are obvious: the human cost of foreclosures is rising and has become permanent. And the cynical way in which the banks and servicers are managing the news by playing whack-a-mole with data analysts has resulted in a form of  victory for banks and servicers who mostly have no real interest or authority for the loans they are saying they are “enforcing”.

If you get news feeds like I do you see two diametrically opposed feeds regarding the number of foreclosures — one says foreclosures are off by 64% and the other says they are worse than ever. Wall Street has managed the news by starting increased in foreclosure activity in areas where they allowed the pace to slow. And they take their foot off the accelerator in areas where the rate of foreclosure is high — only to return later to do the foreclosures.

The reason is simple — they want foreclosures off the radar. As long as it is not on front pages across the country editors are not going to push their reporters for stories on foreclosure. At this point it is plain as day that if investigative journalists really did their work, it would be a lot easier for them now to report on Wall Street corruption and the absence of legal authority to foreclose or make any claim on a mortgage and note in which nobody in your chain of title has ever loaned money to a borrower or paid money to acquire the loan documents.

As long as the fourth estate doesn’t do its job on Wall Street corruption, the Banks will retain control of our government. We had a coup d’etat in 2008 and its time that we took notice of that change.

The mortgage crisis was not just an economic event. It was an act of economic terrorism. Both the Bush and Obama administrations missed this because they did not know enough about it. So they ended up not only negotiating and paying the terrorists but getting their intel from them as well. And it still going on. As long as the only intel used by any presidential administration comes from the perpetrators, the correction needed in finance will never happen.

Write letters to the editor on the newspapers and other media you see you read and ask them to get more active in reporting on foreclosures.

see http://www.pbs.org/newshour/making-sense/homeowner-homeless-meet-victim-floridas-ongoing-foreclosure-crisis/

12 Responses

  1. It is all about money. If your life is destroyed, and they make money–so what. Who cares if the people lose their wealth, land and possessions as long as the traitors make more money.

  2. Counter-claims and defenses that as an action would be defeated by the statute of limitations:

    “…… when the plaintiff (bankster – sic) intentionally waits to file certain claims knowing that the defendant has waited too long to file a counter-claim for past grievances. This article illustrates and describes how it may be possible to revive (at least defensively) such time-barred claims using the powerful equitable doctrine known as equitable recoupment.

    It is well settled law throughout the United States…,that the statute of limitations does not apply to an affirmative defense or an affirmative counterclaim of equitable recoupment. This principle of law is universally recognized and is typically quoted in almost identical terms in major treatises and cases that discuss it.

    51 Am. Jur. 2D Limitation of Actions, §123 (2000).

    Likewise, another nationally recognized treatise, explains the doctrine as follows:

    The defense of reduction or recoupment which arises out of the same transaction as the note or claim sued on, survives as long as the cause of action on the note or claim exists, even though an affirmative action on the subject of it may be barred by the statute of limitations.

    The United States Supreme Court has explained and relied upon this important legal principle on numerous occasions. In Beach v. Ocwen Federal Bank, 523 U.S. 410 (1998), the Supreme Court stated that “as a general matter, a Defendant’s right to plead recoupment, a defense arising out of some feature of the transaction upon which the plaintiff’s action is grounded, survives the expiration of the period provided by the statute of limitations that would otherwise bar the recoupment claim as an independent cause of action.” Id. at 415 (see also the numerous other cases cited thereat for this legal principle).

    The Ninth Circuit has also relied upon this equitable legal doctrine in Klemens v. Airline Pilots, 736 F.2d 491, 501 (9th Cir. 1984), stating that “a claim for recoupment that would otherwise be barred by the statute of limitation may be brought to defeat a claim arising out of the same transaction.

    Recoupment, being in the nature of the defense arising out of some feature of the transaction upon the which the Plaintiff’s action is grounded, survives the expiration of the period provided by a statute of limitation that otherwise would bar the recoupment claim as an independent cause of action. In other words, if the Plaintiff’s action is timely, the defense of recoupment may be asserted even if the same claim, as an independent cause of action, would be barred by a statute of limitations.”

  3. at albrightstoddard.com, you can find this (see blogs on right):


  4. And Louise the likes of us are the golden goose we have got out of bed and held a job since we were legally able we believed if we worked hard we would reap the fruits of our labor, that is natural law that is how its supposed to be for society to succeed, they know this my question is , why dont they want society to succeed, oh yeah they can move to cyprus, its nice there.

  5. Java
    They all are . Karmic debt.

  6. @louise,

    Good for you!

    The consistent message of our own revolution now reverberates through the inconsistencies delivered by our own, I hesitate to call it a “justice system”.

    The hypocrisy and taint of, “Greed no matter the cost” will be met with change that ultimately will represent the will of those that created for US a haven in the first place…

    To believe anything other is to admit lawlessness will prevail in the face of studied respect for the truth.

  7. You can only fleece the golden goose (the middle class) for so long before it does not lay anymore eggs. That day is pretty much upon us. Soon, you will have more people on “welfare” and homeless. Read the French Revolution or our own revolution. It will not go on forever. This year, 2015, is going to be Mr. Toad’s Wild Ride. I am reading that certain banks in Europe are not selling any bullion. All that fiat currency called the Federal Reserve dollar is blowing in the wind. See Golden Jackass.

  8. @johngault,

    I agree, but, I feel it is deeper than that.

    The institutional investors were targeted and, as such, by extension the pension plans.

    The behavior of the governor here in New Jersey is indicative of the states reneging on promises of supporting the pension plans and Christie is just one of many.

    The middle class is the target.

    The unions are also on their “hit list”, and, until We The People regain control of the electoral process by forcing truth in and money out, the unions will remain a bone of contention as counterpoint to the “Not-mes” and their fawning over corporations.

    The focus of empire has moved to the Pacific Rim Countries, with Australia and its largest reserve of gold vis-à-vis everyone else, and the twin weapons of “Free Trade Agreements” and “Central Banking” leading the way, ordinary Americans are doomed.

    The TPP is just more of the same with the central bankers here in the US and “Troika” overseas gaming a corrupted, broken system in anticipation of the spoils estimated as ripe for the picking in China and India.

    The media is complicit and the paid corporate lap-dogs are consistent in their avoidance and studied ignorance of Greenspan and his crowd possibly best-evidenced by his wife the intrepid investigative? Journalist? Andrea Mitchell.

    We The People are bought-and-sold by the heirs to a fourth estate that will sit by and willingly allow what should be a sacred calling to fall into disuse and disrepair courtesy of the corrupting influence of money.

  9. mk, I think one of the reasons they don’t care is because, like their even more elite brethern, they don’t like welfare. The working class is probably just collateral damage, and if so, hopefully it will be their undoing.

  10. There is a photo from the Second World War that shows a soldier pointing his rifle at a young mother protecting the child in her arms.

    To me, it is the epitome of evil; frankly, an icon.

    Of course, after the war, if anybody was willing to believe it, seemingly nobody left on the German side had any notion women and children were murdered in such a way.

    We are all supposed to believe there was never any evidence of such callous inhumanity; such are the Fascists, and, in particular, the Nazis.

    There are comparisons that may be drawn with regard to a complacent media in the face of evil incarnate.

    Nowadays, the Fascists are back, “Corporations are People, my friend”, and they are joined by the “Not-mes”.

    The Not-mes are content to ignore the Fascism that has supplanted democracy because, thus far, their homes and lives have yet to be destroyed by the same international bankers that prey, ultimately, upon the lives of women and children.

    The “Not-mes” are the new “Nazis” and they are content, as corporatists and “Fascists” to allow Americans to bicker among themselves over which political party better serves the country, while, in fact, each party is content to let fraud, forgery, the banks and the lawyers that do their bidding, point the loaded rifle of their multiple deceits at the most vulnerable among us.

    The media is a disgraceful joke and willing participant through apathy and misdirection in the efforts of the central bankers to destroy the very foundations upon which this once-mighty nation once stood.

    Corporations are NOT people and I am NOT your “friend”.

  11. Bravo. Truth.

    Fuck You Hank Paulson.

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