FILE – In this March 24, 2009 file photo, a sign lies on the ground in front of a foreclosed home in Homestead, Fla. Officials in 49 states have launched a joint investigation into allegations that mortgage companies mishandled documents and broke laws in foreclosing on hundreds of thousands of homeowners. (AP Photo/J Pat Carter, File)
Editors Note: When Banks defraud American cities out of county recording fees and saddle them with the maintenance of foreclosed real estate that the banks have abandoned or neglected- cities lose revenue. The cities are then unable to care for the homeless families that were displaced by the banks and may neglect to provide basic municipal services like public water, sanitation or maintain the infrastructure.
The city of Detroit is a perfect example of how a bankrupt city was unable to properly carry out its assigned responsibilities to its citizens due to financial deficiencies caused in part by the Too Big Too Fail banks. In turn, thousands of families were poisoned by their drinking water that was contaminated with lead. The city, who didn’t have the funding to address the issue, simply swept the issue under the rug……until people began getting sick and dying. Now, many Detroit residents will suffer life long illnesses and never be made whole. Don’t think it can’t happen in your own home town. #BreaktheBanks
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May 3, 2016
But the families who lost their homes weren’t the only ones hurt by the foreclosure crisis. So there’s an argument to be made that they shouldn’t be the only ones who can go after the lenders. Cities, for example, lost tax revenue when homes sat vacant, and saw property values within their boundaries decrease when vacant and boarded-up homes sat empty. Cities had to pay for police and fire protection to keep those homes from being vandalized and to respond to reported break-ins and criminal activity at the houses.
So should cities be able to sue the banks, too?
That’s the question making its way through courts across the country after municipalities including Los Angeles, Miami, Oakland, and Providence all filed lawsuits against lenders under the Fair Housing Act. The lawsuits, which the banks are fighting to have dismissed, argue that the lending practices of these banks harmed the cities too.
When lenders targeted minorities for risky loans, knowing that the borrowers would likely lose their homes, they knowingly deprived cities of tax revenue while making them shoulder the expenses of blocks of foreclosures, the lawsuits allege. Oakland, for instance, argues in its complaint against Wells Fargo that the city “has suffered economic injury based upon reduced property tax revenues resulting from (a) the decreased value of the vacant properties themselves, and (b) the decreased value of properties surrounding the vacant properties.” Last month a judge declined to dismiss the suit.
…..Continued at The Atlantic.
Filed under: foreclosure |
“In turn, thousands of families were poisoned by their drinking water that was contaminated with lead.”
I wont be surprised to find out that the banks are into conspiracies to eject people from their homes that they can’t legally foreclose or non-judicially foreclose without protest. We personally experience harassments such as deprivation of service by local labors to plow snow, mow grass and other things, perhaps, accepting money to participate in these conspiracies. Besides, everyone in our family hear a very high pitch noise at night to deprive sleep. This debilitates us to defend ProSe in court. I have recording of this nuisance noise with one particular software that I used to record. We are not hearing things out of nothing or nowhere.
What are we going to do as a. nation, to stop these greedy criminals increasing their covert attacks on struggling home owners ?
Reblogged this on Deadly Clear.
We, the People from all 50 States, should file a lawsuit against our State Governors who have lost their homes to “Fraud”. For allowing this fraud upon us as home owners who have lost their homes under fraud from the Banks. As it seems, our Attorney Generals don’t care about the people who have lost their homes, nor does the Police or Sheriff Departments. So, who do you think does? Care “NO ONE” but those who have lost their homes. The Attorneys, Judges, and the State Attorneys made BIG BUCKS off of those people who had filed claims upon the court to save their homes. They didn’t care if you lost your home. But, We the People can Win, if We all file for a Common Law Grand Jury Trail. And File a Criminal Compliant upon the State for your lose, and request from the IRS – a Pin Number as being a victim to Identity Theft, and did not Abandon your Home, as you were “Ordered” to live your home by a Judge. Start looking up laws, so you can’t be deceived by those who address the law. Learn your Rights!
A number of officials in Ohio and Washington were scratching their heads about why the housing agency requested that 90 percent of the money go for abandoned housing demolition instead of a balanced funding request including mortgage assistance programs.
http://www.dispatch.com/content/stories/local/2016/04/20/application-problems-cost-state-millions-in-federal-money-for-foreclosure-prevention.html
This is the only way we can win, in my humble opine, Semper Fi. Just too bad that attorneys and congress people are not all excited and ready to move swiftly in favor of all property owners across the US, as I have suggested many times. There should be a nationwide bad on foreclosures and lenders should have to adhere to strict guidelines of undisputed proof for any claims. The news media is also absent for obvious reasons as are large groups like the NAR and all the state organizations. Even more disturbing is the absolute fact that the CFPB, most state governments, our federal government, the USDOJ, all congress people are all turning a complete “deaf ear” just remember Semper Fi and the story about the wheel that squeaks the most!!!!!! Keep up the great work Neil and others and get Forensic title people and attorneys to provide more help and not be looking at the bottom line the buck. Let’s do this for America to make it great again like some suggest!!!