By William Hudson
The daily calls haunt Neil Garfield and his staff. Homeowners facing foreclosure vacillate through a predictable cycle of fear, helplessness, betrayal, confusion, powerlessness and sometimes the desire for retribution. Some callers display a pressured, almost manic-like urgency to correct their situation while some are so beaten down they are complacent. There are also the calls from homeowners who learn that they waited too long- and there is nothing else that can be done. The feeling of hopelessness and despair are palpable. Many homeowners will prevail against their loan servicers and many will lose, but all will come away from the experience emotionally altered.
The way people react to foreclosure varies depending on personal factors including resiliency, family support, other resources available to them and the expectation of recovering from the set back. These factors are usually complicated by the degree of injustice suffered at the hands of their loan servicer or the judicial system. The people who have had loan modifications revoked, have discovered evidence of fraud, have had their homes broken into by the banks, or have been victims of a bank deliberately engineering a default through lies and disinformation- tend to be the most impacted. It is one thing to fall behind on your mortgage and go through a relatively quick foreclosure, but quite another when you spend years in litigation while the bank’s attorneys play unethical games and engage in illegal activity often with the court’s complicity.
If you have gone through a foreclosure or are in the process, you may be suffering from “Post-Traumatic Stress Disorder (PTSD)”. But perhaps it is time to coin a new disorder specifically for those who have gone through foreclosure called “Post Traumatic Foreclosure Disorder (PTFD)”. Although it is not an actual syndrome, perhaps it should be. Although the symptoms would reflect those found in Post Traumatic Stress Disorder- they would be tailored to the experience of foreclosure. PTSD is a disorder that can be debilitating and tends to affect people who have encountered life events that fall outside the normal experience. Soldiers, survivors of natural disasters and people who have been victimized often have PTSD. Perhaps Post Traumatic Foreclosure Disorder should be added to the DSM-5, also known as the Diagnostic and Statistical Manual of Mental Disorders- in light of the fact that there are millions of Americans suffering from the disorder after going through foreclosure. The affected might not understand why they can’t “get over it” and why years after the foreclosure- they don’t feel “right”. Perhaps mental health workers should take notice of the mental health toll that occurs with foreclosure and the aftermath. This article is not medical advice, is not for medical diagnosis- but is a brief exploration of foreclosure’s impact on mental functioning.
For creative purposes I will refer to symptoms of the fictitious Post Traumatic Foreclosure Disorder as a disorder similar to Post Traumatic Stress Disorder. However, if you seek medical assistance please don’t state you may have Post Traumatic Foreclosure Disorder- although most health care workers will understand what you are trying to say.
After a stressful event like foreclosure, symptoms may start within three months of the onset of a traumatic event, but sometimes symptoms may not appear until years after the event. The symptoms of Post Traumatic Disorders that result from foreclosure may cause significant problems in social or work situations and in relationships; and in overall life functioning.
PTFD symptoms might be grouped into four types similar to those in diagnosing Post-Traumatic Stress Disorder (an actual psychiatric disorder): intrusive memories, avoidance, negative changes in thinking and mood, and/or changes in emotional reactions.
Intrusive memories
Symptoms of intrusive memories may include:
- Recurrent, unwanted distressing memories of foreclosure, lawsuits, key events
- Feelings of guilt for allowing the foreclosure to occur and impact on family
- Extreme anger about the bank’s tactics or the court’s refusal to enforce the law
- Upsetting dreams about the traumatic event, waking up with panic attacks
- The destruction of reputation especially if the foreclosure was caused by layoffs, health issues, etc.
- Replaying the details of the foreclosure, the lawsuit, the loss of home or a betrayal event
- Severe emotional distress or physical reactions to something that reminds you of the event including panic and anxiety attacks, depression, thoughts of suicide, etc…
Avoidance
Symptoms of avoidance may include:
- Trying to avoid thinking or talking about the event despite the huge impact of the foreclosure
- Refusing to drive by the home or even drive through the part of town where the home was located
- Avoiding places, activities or people that remind you of the foreclosure including courts, attorney offices or even driving by a building with the name of the bank
- Refusing to purchase a new home because of servicing fears
Negative changes in thinking and mood
Symptoms of negative changes in thinking and mood may include:
- Negative feelings about yourself for causing the foreclosure (even if it was beyond your control)
- Negative feelings about attorneys who may have poorly defended the case or didn’t deliver on promises
- Anger over the courts that blatantly ignored evidence and made erroneous presumptions that were untrue- or simply denied the homeowner due process
- Inability to experience positive emotions- a feeling that the entire system is rigged
- Feeling emotionally numb- a sign of depression
- Lack of interest in activities you once enjoyed
- Hopelessness about the future- the feeling you will never recover from the financial setback
- Memory problems, including not remembering important aspects of the traumatic event
- Difficulty maintaining close relationships
Changes in emotional reactions
Symptoms of changes in emotional reactions (also called arousal symptoms) may include:
- Irritability, angry outbursts or aggressive behavior- the feeling that you must protect yourself
- Always being on guard for danger- trust is diminished in people and the system
- Overwhelming guilt or shame
- Self-destructive behavior, such as drinking too much or driving too fast
- Trouble concentrating
- Trouble sleeping
- Being easily startled or frightened
- Shame- another negative and paralyzing emotion
These are only some of the symptoms that may manifest. Even if a mental health crisis does not result in a traumatic disorder, foreclosure is a stressful event. Although not all people will experience stress disorders, other mental health disorders may surface include anxiety disorders, depression, sleep disorders, eating disorders and substance abuse issues.
It is devastating that banks are being permitted to create not only a mental health crisis but a medical crisis as well. The threat of losing a home can be stressful enough to make a homeowner physically ill. Researchers at Princeton have shown a correlation exists between foreclosure rates and people’s health with an increase in hypertension, diabetes and anxiety-related visits (Kalita 2011). The researchers also found that suicide attempts rise in proportion to the increase of foreclosures.
Foreclosure increases the number of mental health disorders and is one more consequence of the American Banking cartel. It has been found that a health crisis or a job loss is the main reason for foreclosure and yet foreclosure further exacerbates health issues and unemployment (Robertson et al, 2008). Although stress is a normal part of life, high levels of anxiety, shame, uncertainty, fear and financial devastation contribute to physical and mental illness. However, the long term deleterious consequences of foreclosure are still unknown.
Regardless of their psychological health before the crisis, high degrees of stress affect both grownups and children and last for extended periods. Such a situation can develop into enduring psychiatric ailments that become lifelong ailments if not properly managed (Lashley et al., 2009). Unfortunately no long-term studies have been done on the mental health of children that go through the uncertainty and trauma of foreclosure. However, researchers have noted that children in afflicted households face the effects of foreclosure and associated financial problems, indicating that mental health practitioners need to develop workable strategies to empower family members to develop resiliency in managing their current economic reality. The children might exhibit psychiatric symptoms, or the impact might be evident in their emotional growth. Some children might develop social functioning difficulties or demonstrate sub-clinical levels of depression. Foreclosure probably contributes to poor academic performance. The long-term effects of foreclosure are simply not known at this time- but it appears that the prognosis is not good. It is known that parents who are under severe stress are unable to parent at a high level.
Foreclosure also leads to other complications. The humiliation of a foreclosure is broadcast for all to see by being posted on the internet or by nailing foreclosure notices to the front door for all to see. Foreclosure and bankruptcy were once relatively private affairs for the most part- but now families are shamed by Notices of Default displayed on the internet that will never disappear. When a person’s name is ‘googled’ the foreclosure entries are prominently displayed. The foreclosure posts may also impact future employment opportunities. Perhaps litigation should be passed that would remove all derogatory information about foreclosure seven years after the event. The fact that someone should live with a lifelong stigma because of an event that may have been beyond their control is unjust. It is easy to see why people remain traumatized after foreclosure.
The fact remains that the true health risks of foreclosure can’t be quantified. It isn’t only the foreclosure that is traumatic but the resulting fallout including deficiency judgments, IRS 1099 forms, relocation, divorce, loss of social standing, new neighborhoods, school changes, legal fees and credit score decimation. When a person loses a home, the center of their universe shifts from one of stability and permanence to one of instability and impermanence. The overall impact on society is detrimental. Many people with one-time short term financial setbacks could easily restructure their finances and cure any arrearage if the bank would simply help structure a modification or repayment plan in good faith. However, this does not occur because a loan servicer is incentivized to foreclose not to modify the loan. Our elected officials have the power to reign in the big banks and to pass legislation to stop this insanity- but don’t. HAMP is one example of a program that was engineered to fail, and contributed to many detrimental mental health events.
A modification under the Home Affordable Modification Program is often more stressful than a foreclosure because there is no accountability or way to determine where you stand. Meanwhile the homeowner cannot proceed with plans to stay in the home or make arrangements to move- they are caught in a never-never land type scenario waiting for the bank to make their decision. A typical modification will put a homeowner through a process that is deliberately confusing, contradictory and set up to fail. As the homeowner chases their tail submitting the paperwork again and again- they go through an emotional roller-coaster of hope and fear, that typically ends with a temporary success and ultimate defeat.
A homeowner might apply for a modification ten times over the period of a year before receiving a trial modification. When they finally receive a letter of approval a mild euphoria sets in and they will go to great lengths to make their payments by certified mail and comply with all of the terms. However, rarely is the loan modified. What typically occurs is that while the servicer was taking payments from the homeowner, the bank was making plans to foreclose. This is called dual-tracking. Upon receiving notice that they didn’t qualify for some arbitrary reason- the homeowner will be thrown into a state of despair. Quite often the homeowner will receive yet another offer to modify their loan that they just received notice that they didn’t qualify for. The homeowner may go through several years of these bad faith offers to modify. There is simply no excuse to put a family through this frustrating and expensive process. The government could easily pre-qualify people before offering a modification and do away with the emotional turmoil the current modification process entails. It is almost like the bank has some sadistic motive towards homeowners who dared to fall behind on their mortgage.
Foreclosure isn’t a choice people make- it is a situation that is usually the result of other factors beyond the homeowner’s control. Over the past decade people have experienced difficult economic conditions including job losses, job insecurity, bank collapses, retirement fund destruction, market bubbles, financial insecurity and other events that have resulted in economic chaos and the dislocation of families. Soaring food, energy, and health care costs put financial strain on the average household, and coupled with the detrimental circumstances in times of economic uncertainty, those suffering through foreclosure might undergo increased stress exposure. However, it is evident that foreclosure is starting to lose the stigma it once had as the majority of the United States population live paycheck to paycheck and recognize that with one bad event like illness, job-loss or an emergency they might be filing foreclosure also.
Caner and Wolff (2004) stated that approximately 46% of American families have as little as $5,000 in liquid assets, including IRAs, which indicated some families are at the brink of financial disaster. In a survey of 60,000 homeowners, researchers for the Homeownership Preservation Foundation (Ackerman, 2010) found the following circumstances might put individuals at risk of foreclosure: 25% resulted from a health crisis; 32% resulted from a job loss; 50% had already missed two mortgage payments and 85% had already missed one; most had first-time home loans; almost all had no savings, no accessible credit, and few assets available in their extended families; most had already refinanced two or three times; and virtually all loans were less than 3 years old.
Researchers have found that the stress of foreclosure is exacerbated by the length of the process (sometimes taking 5 or more years to resolve), and the aversive procedures foreclosure entails. The stress to families begins when they become delinquent on their mortgage and the bank starts the foreclosure process; the process itself varies substantially among different jurisdictions of the United States, ranging from several months to over eight years in some cases. If a homeowner chooses to litigate the foreclosure the homeowner will be subjected to high periods of stress, periods of waiting, and a rollercoaster of emotions as new events unfold.
Another consequence of foreclosure is the tendency to avoid banking relationships and the judicial system. Many homeowners voice their reluctance to become involved in any written contract after a foreclosure, with the new understanding that if a banking issue occurs the banks won’t play by the rules and the courts, almost by default, will rule in favor of the bank. The individual facing foreclosure may find that literally overnight they are immersed into an alter-reality of confusing legal terms, procedures and case law without a rudimentary understanding of the terminology being used. The legal experience of foreclosure simply compounds the trauma (the expense, not understanding what is happening, etc). Homeowners may depend on their attorneys for legal education- but very few attorneys have the time to explain basic legal procedure to every client. The homeowner who has always believed they could bring themselves up to speed on most topics quickly discovers that without a law degree they won’t be able to defend themselves.
Many clients who have successfully received a loan modification state they live in absolute fear of accidentally missing one payment or having another issue that may be used as an opportunity by the bank to force them into default. They say that after dealing with the bank bureaucracy and receiving conflicting answers provided by customer “service” agents they fear the problem will never be resolved. I spoke to a recent client that now records all conversations with her bank. Foreclosure isn’t just about losing a home- it causes a complete reevaluation of a person’s core beliefs about the goodwill of people and especially about their government who subsidizes the banks that break the law with impunity.
In conclusion, although Post Traumatic Foreclosure Disorder is not a recognized medical diagnosis, foreclosure can result in a trauma that manifests in conditions like Post Traumatic Stress Disorder and even physical illness. It is important that people who are experiencing mental health complications from the overwhelming nature of losing a home seek professional assistance. In time, the trauma of foreclosure typically fades and the homeowner rebuilds their life- but there is no doubt that the trauma of foreclosure takes an emotional toll.
When to see a doctor
If you have disturbing thoughts and feelings about a traumatic event for more than a month, if they’re severe, or if you feel you’re having trouble getting your life back under control, talk to your health care professional. Get treatment as soon as possible to help prevent PTSD or PTFD symptoms from getting worse.
If you or someone you know is having suicidal thoughts, get help right away through one or more of these resources:
Call a suicide hotline number — in the United States, call the National Suicide Prevention Lifeline at 800-273-TALK (800-273-8255) to reach a trained counselor. Use that same number and press 1 to reach the Veterans Crisis Line.
Make an appointment with your doctor, mental health provider or other health care professional.
If you know someone who’s in danger of committing suicide or has made a suicide attempt, make sure someone stays with that person. Call 911 or your local emergency number immediately. Or, if you can do so safely, take the person to the nearest hospital emergency room.
REFERENCES
Ackerman, T. (2010, March/April). Foreclosure vs. homeless: Take a proactive approach. Facts and Findings. Retrieved from http://www.nala.org/Upload/file/PDF-Files/FactsFindings/Ackerman.pdf
Caner, A., & Wolff, E. N. (2004). Asset poverty in the United States: Its persistence in an expansionary economy. Levy Economics Institute of Bard College, Public Policy Brief, 76. Retrieved from http://www.econstor.eu/bitstream/10419/54341/1/515646784.pdf – See more at: http://execrank.com/board-of-directors-articles/understanding-the-negative-effects-of-home-foreclosures-on-mental-and-physical-health/#sthash.twdomYHj.dpuf
Kalita, S. (2011, August 1). Tying health problems to rise in home foreclosures. The Wall Street Journal. Retrieved from http://online.wsj.com/article/SB1000142405311190419940457653829377187000 6.html?mod=WSJ_hp_LEFTTopStories
Lashley, M., Maudry, B., Jeffers, A. E., & Davis, D. E. (2009). Psycho-social impact of mortgage foreclosure. European Journal of Management, 9(3). Retrieved from http://www.freepatentsonline.com/article/European-Journal-Management/260792631.html
Mental health: Keeping your emotional health. (2002, October 1). American Family Physician, 66(7), 1287-1288. Retrieved from http://www.aafp.org/afp/2002/1001/p1287.html
Robertson, C., Egelhof, R., & Hoke, H. (2008, August 18). Get sick, get out: The medical causes of home mortgage foreclosures. Health Matrix, 18(65). Retrieved from http://law.cwru.edu/studentLife/organizations/healthmatrix/files/Robertson%20Final%20Article~1.pdf
Filed under: foreclosure | Tagged: distressed homeowners, ptsd depression, stress, trauma |
The elected representative of the town we live doesn’t even reply emails just like the politicians in third world countries.
Your elected official needs to be publicly shamed or their playing stupid because they used us to steal from settlements. Time to quit looking for “help” and start punching back!
How??? elected officials ignore your phone calls. My florida house rep staff member thinks foreclosure law is all federal. I said NO!!!!! I told her most are per state like the SOL. sad people do not know. everyone is a hypocrite ( if you would have just paid your mortgage) they do not realize 99.99999 of us wanted to pay our mortgages. we did not do this. what else can we do. screaming is not working
Happened to me with Wells fargo. losing faxes documents, losing fed ex documents. What kind of government allows this kind of they too continue it’s people and hiding it behind “Foreclosure” Wendi we all know it’s fake
One wont be surprised to find out that some of these crooked banks or servicers may be bribing or giving some mortgage related incentives even to employees of Department of Human Services after home owners facing foreclosures become victims of extortion and oppression.
LET US EXPOSE THIS TO FIND OUT THE TRUTH AS THEY ARE SHOWING “MISSING DOCUMENTS” DESPITE SUBMITTING ALL DOCUMENTS JUST LIKE B of A did !
One wont be surprised to find out that some of these crooked banks or services may be bribing or giving some mortgage related incentives even to employees of Department of Human Services after home owners facing foreclosures become victims of extortion and oppression.
PTFD, The struggle is real. Five years after my husband’s death and four years after wrongful foreclosure. BoA The servicer of a refi. finally, responds to the death certificate that I had faxed. They wanted to send me condolences for the loss of my husband. There was worst possible case scenario insurance that vanished, poof!! Just gone! My friends told me not to reply, it’s a trick! I believe them. My house wasn’t enough for them, Now they want more!
ReformFarmCredit.com Anyone dealing with Farm Credit?
[…] The Emergence of Post-Traumatic Foreclosure Disorder […]
The millions of homeowners dispossessed should begin the armed insurrection against our government for high treason.
I finally understand the Second Amendment and what it’s for.
In Florida ask thru do is send letters to the servicer that’s foreclosing and then though get a letter back and the servicer is always contradicting the facts. For example every y time I called I got after letter stating how often they sent me modification applications but I never applied. Applied LOL. They lost every thing I sent. To funny. Some of the dates they wrote they already served me with the foreclosure dual tracking me. Which I found out was outlawed in 2013, but was perfectly fine in 2011?
Write to State senators about your concern regarding illegal foreclosures. Write an effective and respectful letter to get a reply.
Anonymous, I have tried for 8 years. All elected officials ignoring is. I did get a voicemail yesterday from the newest representative in Florida, his staff member. In will call adele today. Yes wet need foreclosure reform. Were need to hold all these banks responsible for the crime. For coerced millions of people into foreclosure. Buy telling people to be 90 days late or refusing payments, losing documents when applying for a hamp modification. All the same. Millions of people were responsible homeowners that is why they applied for a modification in the 1st place not to go into foreclosure. My fight is going too be on credit scores. These are all debts and they rely on the credit score to give is a mortgage well what about the opposite? If someone had a high credit score a month before the “default” why would they continue to pay credit cards and car loans on time unless they were promised a modification and was waiting on the 90 days and then apply but then denied? This is what wet need our elected officials to see
In Washington DC, we saw homeless people living under trees. Is this a developed country?
Please write to your State senators to change foreclosure laws.
Hi Suzie, small group of us is sharing experience and working on ideas if u want to get in touch. Just homeowners providing our perspective. Can leave email here
http://bit.ly/Si8EL5
This article speaks the truth!!!
I have had all of these feelings and need to talk to someone.
My house went to short sale after my lender refused to return calls and they sent our payments back. I did everything I could do to try to get help, no one could do anything. I moved away from my home, neighborhood and beloved neighbors, my life will never be the same. I had to pay taxes on a 1099-C. I am broke and struggling to start over. I have a daughter in community college and she was headed to a great university. Our dreams have been shattered. I hope this epidemic ends soon, I know so many people hurting. Your article was very helpful, I hope that everyone that knows someone that struggled with foreclosure can read this and understand how hard it is to get back in the game.
No one should be duped by their bank or lender but yet they are getting away with it !!
[…] Source: The Emergence of Post-Traumatic Foreclosure Disorder […]
Hallelujah Neil, this is a Beautiful Synopsis of all of the Horrible side effects of a Ponzi Scheme designed to make us all slaves to an Industry that cannot go under the radar anymore. Thank you because you have helped us for the last 6 years by informing us and giving us Strength and Courage. Everything in this particular Excerpt is The Truth!! I feel better just reading this. Thanks to William Hudson. As I am finishing my Reply Brief for the 5th DCA, I am encouraged to reveal to the best of my ability why I am entitled to keep OUR HOME!! I am Pro-Se and for the sake of our family and heritage, I am digging deep inside of myself for the Wisdom and Grace to present a convincing argument. After all the first words from the “Witness” as to who he was there to testify for he stated Deutsche Bank. WRONG…But lucky for him the “attorney for Wells Fargo Bank had the Final Judgement to show him so he could recite who he was there for. Oh yeah and our loan originated from Home123…New Century. Now I have to find out how I can request our files from Alan Jacob Trustee, Bankruptcy court. I did get certified copies from Delaware Bankruptcy Court so if anyone can help, that would be great! Thanks again Neil!! You Really Shine and We Love Ya!! Tess and Jeff Jones
The illegal foreclosure attempt is affecting the physical and mental health of American people. We believe, there is even a conspiracy to eject us out of our own home by hook or crook. We can’t even get a person to mow our lawn and even if we manage to to get one he didn’t show up after sometime. The snow plow guy gave us a shock when he called at the beginning of last winter to say he wouldn’t plow our driveway. We manage to get someone but he didn’t show up after sometime. Because we didn’t have much snow last year we survived. Are these people all bribed out or why there are so much unusual business practice? There is more……..
OMG, I couldn’t figure out what was wrong. I represented myself, had a great argument for appeal and every time I would worked on the brief I would get extremely worked up and stressed, so much so I couldn’t finish it and missed the deadline. Actually thought I was going to have a stroke or heart attack.
Kindly advise us on the following matter. We live in Rhode Island and we get no help to pursue this case. The facts about fraud on Assignment of Mortgage follow:
1.The Assignment of Mortgage was received in the town recording office on August 11, 2011 by the town clerk.
2. The content of the document of the Assignment of Mortgage reads,
”Recorded in on 3/13/2007….” when it was received only in 2011 !
3. The closing date of the CWANS Trust was March 29, 2007. We have a copy of the PSA of the CWABS.
4. If the assignment was done after the closing date, it would have become VOID by New York Law EPTL §7-2.4 on which TRUST WAS CREATED (simple commonsense when we allow NY banks to conduct businesses in RI). To circumvent this, the assignee fraudulently mentioned within the Assignment of Mortgage that it was recorded on 3/31/2007.
5. Because it was actually recorded at the recording office on August 11, 2011, not only that the Assignment of Mortgage is fatally VOID, it will have adverse tax consequence resulting from the trustee violating the governing trust documents and loosing Real Estate Mortgage Investment Conduit (REMIC) status. (Tax fraud by the assignee)
6.The attempted transfer by defective assignment was also seemingly schemed to protects the beneficiaries of the Securitized Trust from the potential adverse tax consequence of the trust losing its status as a REMIC trust under the Internal Revenue Service Codes. (Fraud on IRS)
7. Back dating of an Assignment of Mortgage is impermissible and INVALID as it is like back-dating a Promissory Note which is not permissible. Conveyances of interests in, or ownership of, real estate or any assets are ONLY present tense transactions in this real world of commonsense.
Conclusion:
—————
Therefore, there are, in fact, multiple MEGA frauds involved as anyone with commonsense could understand, in the Assignment of Mortgage by B of A to BONY. The lawyers in Rhode Island say, because the argument is based on NY laws, judges wont buy it in Rhode Island. WHY NOT when these banks are allowed to do business in RI?
Please give us some legal advise as to whether we have a good case to obtain a Quite Title on our home as we seem to have foreclosure trauma affecting us in many myriads ways of our lives. We even believe that there is even a conspiracy to eject us from our home by hook or crook. Please HELP !
Here is the details I found out !
The Assignment of Mortgage was received in the town recording office on August 11, 2011 by the town clerk. The content of the Assignment of Mortgage reads that, ” Recorded in on 3/13/2007….” THIS IS A DELIBERATE attempt to defraud as the closing date of the Trust was March 29, 2007. We have a copy of the PSA of the CWABS Trust stating the closing date. If the assignment was done after the closing date, it would become VOID by New York Law EPTL §7-2.4 on which TRUST WAS CREATED (please understand this commonsense conclusion when we allow NY banks to conduct business in RI). Not only that the Assignment of Mortgage would become void, it will have adverse tax consequence resulting from the trustee violating the governing trust documents and loosing Real Estate Mortgage Investment Conduit (REMIC) status. The attempted transfer by defective assignment was also seemingly schemed to protects the beneficiaries of the Securitized Trust from the potential adverse tax consequence of the trust losing its status as a REMIC trust under the Internal Revenue Service Codes.
Back dating of an Assignment of Mortgage is impermissible and INVALID as it is just like back dating a check six months or more which is not negotiable. Conveyances of interests in, or ownership of, real estate or any assets are ONLY present tense transactions in this real world of commonsense.
Therefore, there is multiple MEGA frauds involved in the Assignment of Mortgage by B of A to BONY. The lawyers in Rhode Island says because the argument is based on NY laws, judges wont buy it. Some lawyers are telling us to call our representative to address our grievance. We did and nothing happened so far. Please advise, what to do. Thank you in anticipation.
“We live in Rhode Island. There is fraud in assignment of mortgage by Bank of America. Lawyers are telling us that this fraud is based on New York Law on Trusts where BONY is located and not applicable in Rhode Island. Does this make any sense?”
not enough info to speculate even. Like what’s the fraud?
We live in Rhode Island. There is fraud in assignment of mortgage by Bank of America. Lawyers are telling us that this fraud is based on New York Law on Trusts where BONY is located and not applicable in Rhode Island. Does this make any sense?
As auditor told me early on “layers of fraud”
After over 8 years of fighting one criminal or another to keep my home, it’s been damaging on many fronts, including the one Neil posted here, which is why I’m not here anymore. Burned out. Glad some of you still have the energy to keep at it here. But I came across this, which Neil should like, a few days ago:
“California sued Morgan Stanley over claims it misrepresented “complex investments” sold to the state’s employee pension funds, including the type of subprime mortgage-backed securities that led to the global financial crisis……..
Harris accuses the bank of bundling high-risk loans from subprime lenders — SOME DIRECTLY FUNDED BY MORGAN STANLEY — and selling them to investors without disclosing its own concerns about the poor quality of the debt.”
Get this:
“The behavior was explained by the bank’s fear that transparency would be “a relationship killer,” hampering a lucrative business with the companies taking on the risky debt, according to the complaint filed Friday in San Francisco state court.”
Yeah, I think it would’ve hampered their m.o. to tell the truth about the quality of the dog-doobage loans.
The article got something right: it was the creation and sale of the securities tied to subprime loans which did in our economy, not necessarily the loans themselves, altho the subprime loans themselves were criminal and begged default.
What do we do to solve these problems? Please suggest.
I heard that some judges have three to four houses. Are they bribed by the banks?
Wait a minute! This is normal not a symptom of some disorder!
“Negative feelings about attorneys who may have poorly defended the case or didn’t deliver on promises
Anger over the courts that blatantly ignored evidence and made erroneous presumptions that were untrue- or simply denied the homeowner due process”
In CA a group of us is lobbying officials at every level to change foreclosure laws and ENFORCE them as well as investigate judges and reform the courts. We need Neil, other so called advocate/consumer attorneys to join US and demand release of the $300 million of relief in CA for HARM DONE TO US. It’s the same with the billions of settlements and cases “won” in every other state. No excuses.
• Irritability, angry outbursts or aggressive behavior- the feeling that you must protect yourself
• Always being on guard for danger- trust is diminished in people and the system
• Overwhelming guilt or shame
• Self-destructive behavior, such as drinking too much or driving too fast
• Trouble concentrating
• Trouble sleeping
• Being easily startled or frightened
• Shame- another negative and paralyzing emotion
I have ALL of the above. I am completely surprised that I didn’t lose my job in the process.
I remember it so well…how it all started. It was the fall of 2009 in Maryland. We made a payment to the servicer (HomeEq) every 2 weeks as a matter of good practice. When my husband’s small contracting business started to bottom out with the rest of the economy we started to falter but ever so slightly. HomEq without notice or reason started refusing our ‘partial’ payments and piled on huge fees – which threw us into default rabbit hole. Very shortly after that we got a letter offering us a short sale from a greedy asshole who (we found out later) saw our house from his boat (how did he know?). He waited five years and was the ONLY bidder. Coincidence? I think not. He worked hand in hand with the foreclosure mill Shapiro & Burson who took my house with fabricated documents that not one judge in Baltimore County bothered to even look at.
Not implying any kickback schemes, although I wouldn’t be surprised. I’m just recalling the past news about the VIP loans.
http://money.cnn.com/2012/07/05/real_estate/countrywide-mortgage/
There would seem to be some confusion on this subject……
– The FBI is not your friend and they will not help you with the fraud in your case
– The various state AG’s court and spark the FIRE sector because they’re a sugar daddy for campaign funds
– Your legislator doesn’t read, nor give a shit, about your issues with the banks
– Your commander in chief curtailed any investigations by emphatically stating, without any investigations, that nothing illegal took place
– Every single attorney in your community relies on banks for a sizeable portion of their income – not by accident
– Forget any class actions due to the fact that any/all of the largest firms sleep easy in the same bed with the banks
You and I are cannon fodder. We are expendable in the equation that spells out how to keep the status quo in place
– When Obama mentioned the pitchforks to the roomful of bankers, he had them pointed at the citizens, protecting the bankers, not the other way around
– Without exception, nearing 100%, the judges will rule for the banks. Period.
What this all means is that life is a swirling sucking eddy of despair filled with brief moments of false hope in an ever darkening universe, and THEN you lose your home 🙂
Thank you, Neil, for this great article. Just having someone finally come out & acknowledge what we’re going through emotionally helps.
It’s been 4 years since Chase stole my home after 2 years of going through the Hellbent At Making Profits program known as HAMP.
I’m a single woman turning 65 soon & my life has been ripped away & will never be the same. I’ve known for a long time I now suffer from PTSD (PTFD, better put).
The anger has never subsided yet I don’t think it should. If we become complacent & just accept it, we will never implement change.
“Here, have some anti-depressants. You’ll feel better.”
No, thanks. I don’t care to become numb to what’s happened.
While you recommend seeking medical help I refuse to do so.
I have been screwed over, lost my home of 20 years & my future after complaining to every govt agency while it was happening with each telling me, “Sorry. You may want to hire a lawyer.” (Umm…those of us who suffered a setback & were going for a mod hardly had the money for a lawyer, so we lost it all).
I now mistrust anything involving “our” govt so have no desire to get on record with any Dr as having any sort of “emotional disorder”.
I don’t trust them to not use it against me in the future in whatever way they desire. I don’t want it on file for them to abuse.
You speak of mistrust? How’s that for irony?
My brightest spot has been that for the first time in all my voting years there’s finally a candidate whose words I believe & am wholeheartedly in favor of. He gives me hope for a brighter future in that he is as disgusted with the behavior of the big banks as myself–and it’s not just lip service.
I have become politically active for the first time in my life & that’s a good thing.
If Bernie doesn’t win, perhaps he & Jane will rent me a room in their garage? I think those are the kind of folks I’d prefer to live among. Honesty is hard to find these days…
I already wrote to my Representative and no reply yet.
My wife filed a formal complaint with proof of fraud in the assignment of mortgage and no reply. She called the FBI as the lawyers were telling going to court would not stop foreclosure.
Are you implying that the States get kickbacks every time a home is foreclosed ! If so, what do we do? Please suggest.
anonymouse,
You said, ” Make formal complaints with proofs to the FBI and demand investigation.”
‘ Audit of the Department of Justice’s Efforts to Address Mortgage Fraud ‘ – March 2014 – that the FBI doesn’t address individual home mortgages.
You said, “Call your representatives and ask them to change laws.”
Whom do you think were getting all the sweet mortgage deals.
What we need to all do its call our representatives and propose a bill that if the SOL falls while the lawsuit is still in court that a motion for dismissal will cancel the mortgage and any future foreclosure cases. Our elected officials in Florida already wrote law,stating the bank only has 5 years to foreclose. Keeping us perpetually in foreclosure is not healthy. We all need to do something. I am trying to get my “now” adult children invw. They can vote now they call as well to.propose new legislation.
Why would the general public have to go through these when the driver of this mess is the Wall street? This is like a bus driver blaming passengers after crashing a bus. Courts must not be lenient for the banks as the whole world now knows that most of them are crooks in the USA.
Call your representatives and ask them to change laws.
HAMP often fails as the recovery of recession is on a slippery slope. What is the solution to all these. Vote for Bernie sanders?
The FBI needs to investigate the failure of justice system in our country.
Make formal complaints with proofs to the FBI and demand investigation.
In Rhode Island, the foreclosure defense attorneys tell clients that despite missing promissory note and defective assignment, home owners don’t have chance in winning a case. This is disheartening to hear. What are we going to do besides hoping for Bennie Sanders election promises.
they all play dumb like a fox…..be greatful you didn’t loose thousands in lawyer fees.the courts are third party collection agency for the crooks.
There’s a book, there’s a documentary, there’s an article. There is no justice.
Those of us in a non judicial state did not have the option of court. After reporting mortgage fraud to my DA, I went to the unlawful detainer hearing against the Deutsche bank lawyer taking my home and the judge could care less what was said or presented.
Deutsche bank the custodian of my original loan played dumb. They knew what was up. They all knew what was going on. I’m so sick of money makers cashing in on the foreclosing borrower who got screwed over the moment they sat down with the mortgage broker.
You think you need help in this crisis? Look at the millions of us that got screwed over, then decide if you are an exception.
So true lost 2 homes and there working on home number 3 ,tax paying 50 year old with 6 grand children JPMorgan chase and there fraud transaction will be the death of me thanks to the freedom act .I just learned I have 18,000.00 of the 95,000.00 ive already payed is fees made up by the servicer chase.2 lawers and they act dumb like a fox.
and go figure after all that your payment raises and your interest rate drops half but then we got to gross up the tax paying public.lawyers act dumb like a fox.
For those who’ve been damaged by the complicity of the Courts… it’s called LAS (Legal Abuse Syndrome). Here’s a link… https://www.youtube.com/watch?v=Ge_LkXD9YtA
Dear NIKKI: Someone finally figured out that there is an emotional toll involved in this foreclosure mess. Big surprise huh. Love, Dad
Sent from my Verizon Wireless 4G LTE smartphone
Could we sue the bank and servicers for causing Post Traumatic Stress Disorder in Rhode Island? We are helpless and highly stressed out when we came to know that there is no recourse even in court system to fight back fatally defective assignment done by B of A to BONY. What could we do?
Hi Neil – if anyone wants help I have a free resource that they can learn and use for themselves. I am a fellow victim of foreclosure fraud and stress disorder. It just so happens that I have resources I learned to help myself and it really works! If anyone wants it feel free to access it free. There’s absolutely no obligation and this is not a “come on” this is a truly free resource. In full disclosure you will be on my mailing list, but I don’t spam and I send useful information from time to time without sales pitches: http://drchriswinsey.com/stop-stress-in-3-minutes-or-less/
You forgot ‘Post Traumatic Fraud Disorder.’
First comes the borrower getting defrauded by an adjustable false stated-income liars loans with false appraisal which was fully perpetrated by the broker and lender while no one talked about or investigated it, we simply blamed the borrower. Then we jump straight to the foreclosure and continue to diagnose blame on the borrower for something while giving the real criminals a free ride.
When to see your doctor. – You don’t. There’s no cure for screwed over.
thank you
The great depression changed me, that’s for sure. The three s’s, sued at, shot at, and sh*t at, but I’m still standing. In many ways I’m better off. You come to know yourself and who your true friends are when it all goes south. I don’t think I will be able to trust anyone again, but now I know how strong of a person I am. When the rubber hits the road you find out fast what your made of. Still in my home, still have my business. Credit shot to hell, judgements on record, down but not out of the race. Never will I be fooled again.
Neil blah, blah, blah, been through all those emotions, but the one that refuses to subside is anger and it is with that anger that I have survived 7 years of the bank’s BS and all the aggravation, but what is amusing is how the bank continues to dig themselves deeper in their own muck with their incompetent counsel and BAD FAITH ways of conducting their business. Everyone that has lost a home, REMEMBER ITS NOT YOUR FAULT and absolutely do not feel ashamed. WE, THE Borrower did not create their illegal securitization scheme. The Borrower has been misrepresented, misled and lulled into default and breached and robbed of their home and downpayment. This entire foreclosure crisis appears to be One huge government conspiracy. I’m not worried, nor should you because anyone involved in this fraudulent scheme will get their day and lets all hope it is soon. We have waited long enough for REAL justice.
Legal Abuse Syndrome (LAS) Google it. A real viable claim you can pursue!!
i am sick to my stomach, i have htis. i am in the 2nd year of my 2nd foreclosure. I think as soon as your sol passes the cases should be dismissed. this perpetual foreclosure sucks. i have gained so much weight and i am not my self. do not feel happy anymore. This killing me what do i do?
Reblogged this on littlefolksblog and commented:
“Our elected officials have the power to reign in the big banks and to pass legislation to stop this insanity- but don’t. HAMP is one example of a program that was engineered to fail, and contributed to many detrimental mental health events.
A modification under the Home Affordable Modification Program is often more stressful than a foreclosure because there is no accountability or way to determine where you stand. Meanwhile the homeowner cannot proceed with plans to stay in the home or make arrangements to move- they are caught in a never-never land type scenario waiting for the bank to make their decision. A typical modification will put a homeowner through a process that is deliberately confusing, contradictory and set up to fail. As the homeowner chases their tail submitting the paperwork again and again- they go through an emotional roller-coaster of hope and fear, that typically ends with a temporary success and ultimate defeat.”
Great piece! These are acts of racketeering and extortion. Thank your government for allowing this to continue on unfettered.