Van Helsing: "The strength of the vampire is that nobody will believe in him."
America's debt to Wall Street has soared since 1945 - and although the banks were rescued at public expense, the public's been left holding the bag for the recent drop in housing prices:
Hmm ... How many times has the word "vampire" appeared in books during the same period [1]?
What does this mean? Does it reflect the public's subconscious response to predatory banking? Or is it just some guy having nerdy fun with data sets by juxtaposing two trend lines that have nothing to do with one another? We report, you decide.
Here's what we do know: Like their fictional counterparts, America's banks are revenants, re-animated creatures who were brought back from the dead through the public's generosity. Now they're feasting on the rest of us again, while politicians in Washington work to rob us of the few tools we can use to defend ourselves. With some Democratic complicity, Republicans are fulfilling the promise of Rep. Spencer Bachus, who said that "Washington and the regulators are there to serve the banks."
And what they're serving them is you.
The Count: "Listen to them! The creatures of the night. What music they make ..."
The rap sheet against America's banks grows longer and longer. They keep stringing people along with phony foreclosure negotiations, and then foreclose anyway. And we're hearing more and more stories about bank agents who, as they're invading and padlocking illegally foreclosed homes, also steal the private property inside them. In
Reuters reports:
Shadow inventory is seen as one of the chief threats to the fragile housing market that is showing new signs of weakening.
***
Adding to the problems are errors in processing tens of thousands of foreclosure cases at Bank of America Corp, the largest U.S. mortgage servicer, and other financial institutions.
The massive failure to provide proper documentation in court has resulted in delays to an already lengthy processes of repossessing homes, leading to a backlog in paperwork and repossessions as the companies fix their procedures. The banks are also facing a nationwide probe by state attorneys general.
***
What’s more, buyers of distressed properties have become gun shy due to the foreclosure processing problems, according to a Campbell/Inside Mortgage Finance survey of real estate agents.
The poll found 14 percent of owner-occupant homebuyers and 6 percent of investors refused to view foreclosed properties in October.
And Zack’s Investment Research writes:
Foreclosures have slowed recently, but that is only because of the fraudclosure scandal, where the banks have proved to be exceptionally incompetent in handling the paperwork related to securitized mortgages. Basically, they can’t really prove that they hold the mortgage, and thus don’t have the right to foreclose.
It remains to be seen just how big a problem that will prove to be. It could just be a technical glitch that will gum up the works for a few months, or it could be a HUGE problem that once again undermines the solvency of the entire banking system.
***
What is clear is that what [Bank of America, Wells Fargo and other big banks] were doing was illegal and at least technically constituted fraud and misrepresentation to the courts.
There should be more than a handful of bankers who end up with long terms in prison as a result. Just because there should, however, does not mean that there will be. White-collar crime is simply not taken seriously in this country relative to blue collar or street crime, even though the amount stolen with a pen far exceeds the amount stolen with a gun.
For those who doubt that fraud is rampant in the mortgage paperwork mess, see this, this, this, this, this and this .
There are obviously other factors responsible for the softening housing market, such as the end of government stimulus programs regarding housing, and poor employment conditions. But as I’ve pointed out early and often, these problems are all interrelated. See Another Nobel Economist Says We Have to Prosecute Fraud Or Else the Economy Won’t Recover.
robert shumake detroitCNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.
Progressive rock legends Pink Floyd have re-signed with their longtime record label EMI.
robert shumakeCNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.
Progressive rock legends Pink Floyd have re-signed with their longtime record label EMI.
robert shumake detroit
Van Helsing: "The strength of the vampire is that nobody will believe in him."
America's debt to Wall Street has soared since 1945 - and although the banks were rescued at public expense, the public's been left holding the bag for the recent drop in housing prices:
Hmm ... How many times has the word "vampire" appeared in books during the same period [1]?
What does this mean? Does it reflect the public's subconscious response to predatory banking? Or is it just some guy having nerdy fun with data sets by juxtaposing two trend lines that have nothing to do with one another? We report, you decide.
Here's what we do know: Like their fictional counterparts, America's banks are revenants, re-animated creatures who were brought back from the dead through the public's generosity. Now they're feasting on the rest of us again, while politicians in Washington work to rob us of the few tools we can use to defend ourselves. With some Democratic complicity, Republicans are fulfilling the promise of Rep. Spencer Bachus, who said that "Washington and the regulators are there to serve the banks."
And what they're serving them is you.
The Count: "Listen to them! The creatures of the night. What music they make ..."
The rap sheet against America's banks grows longer and longer. They keep stringing people along with phony foreclosure negotiations, and then foreclose anyway. And we're hearing more and more stories about bank agents who, as they're invading and padlocking illegally foreclosed homes, also steal the private property inside them. In
Reuters reports:
Shadow inventory is seen as one of the chief threats to the fragile housing market that is showing new signs of weakening.
***
Adding to the problems are errors in processing tens of thousands of foreclosure cases at Bank of America Corp, the largest U.S. mortgage servicer, and other financial institutions.
The massive failure to provide proper documentation in court has resulted in delays to an already lengthy processes of repossessing homes, leading to a backlog in paperwork and repossessions as the companies fix their procedures. The banks are also facing a nationwide probe by state attorneys general.
***
What’s more, buyers of distressed properties have become gun shy due to the foreclosure processing problems, according to a Campbell/Inside Mortgage Finance survey of real estate agents.
The poll found 14 percent of owner-occupant homebuyers and 6 percent of investors refused to view foreclosed properties in October.
And Zack’s Investment Research writes:
Foreclosures have slowed recently, but that is only because of the fraudclosure scandal, where the banks have proved to be exceptionally incompetent in handling the paperwork related to securitized mortgages. Basically, they can’t really prove that they hold the mortgage, and thus don’t have the right to foreclose.
It remains to be seen just how big a problem that will prove to be. It could just be a technical glitch that will gum up the works for a few months, or it could be a HUGE problem that once again undermines the solvency of the entire banking system.
***
What is clear is that what [Bank of America, Wells Fargo and other big banks] were doing was illegal and at least technically constituted fraud and misrepresentation to the courts.
There should be more than a handful of bankers who end up with long terms in prison as a result. Just because there should, however, does not mean that there will be. White-collar crime is simply not taken seriously in this country relative to blue collar or street crime, even though the amount stolen with a pen far exceeds the amount stolen with a gun.
For those who doubt that fraud is rampant in the mortgage paperwork mess, see this, this, this, this, this and this .
There are obviously other factors responsible for the softening housing market, such as the end of government stimulus programs regarding housing, and poor employment conditions. But as I’ve pointed out early and often, these problems are all interrelated. See Another Nobel Economist Says We Have to Prosecute Fraud Or Else the Economy Won’t Recover.
robert shumake
robert shumakeCNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.
Progressive rock legends Pink Floyd have re-signed with their longtime record label EMI.
robert shumakeCNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.
Progressive rock legends Pink Floyd have re-signed with their longtime record label EMI.
robert shumake Buying a foreclosure home is a smart investment. It is an inexpensive way to buy a home, whether you are buying your first home, your last one, or if you are looking for a house to fix up and sell. Here are some good websites to visit for local home foreclosure listings in Alexandria, MN:
RealtyTracRealtyTrac lists Alexandria, MN real estate and home foreclosures, as well as real estate agents in the area. You can search by city and even by street name for foreclosures.
According to RealtyTrac, there were 1,886 foreclosure filings for Minnesota in January but only 420 foreclosure sales. RealtyTrac also provides information about putting your home for sale, how to buy foreclosures, neighborhood statistics, and more.
Click here to go directly to the Alexandria foreclosure homes listed at RealtyTrac.
AOL Real EstateHere you will find a long list of foreclosures in Alexandria, MN. Along with the address, listed are: the price, number of bedrooms and bathrooms, and the square footage of the home.
AOL Real Estate has information about the current Alexandria market and demographics, as well. You can find information such as the total number of homes for sale, the number of homes that were sold last month, and the average list price of the homes. You can also find out how many schools are in the area and other school-related information.
Click here to go directly to the Alexandria foreclosure homes listed at AOL Real Estate.
Foreclosure.comThis website also lists the price, address, and other details of the foreclosure homes in Alexandria. There is both Minnesota and Douglas county information, such as the number of foreclosures and pre-foreclosures.
A quote from the Wall Street Journal: "...we checked three [foreclosure Web sites] for listings in one neighborhood near Atlanta. Foreclosure.com was the only one of the three sites to correctly report that the price had been cut..."
Click here to go directly to the Alexandria foreclosure homes listed at Foreclosure.com.
There are many other websites that you can visit with home foreclosure listings in Alexandria, MN, but these are a few good places to start your search. In addition to foreclosure listings, on these sites you will find information about the Alexandria market and demographics, such as neighborhood and school information. Buying a foreclosure home is a smart investment and, in the end, it will be worth the little extra work you may have to put into buying one.
robert shumakeCNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.
Progressive rock legends Pink Floyd have re-signed with their longtime record label EMI.
robert shumake detroit
robert shumake
Van Helsing: "The strength of the vampire is that nobody will believe in him."
America's debt to Wall Street has soared since 1945 - and although the banks were rescued at public expense, the public's been left holding the bag for the recent drop in housing prices:
Hmm ... How many times has the word "vampire" appeared in books during the same period [1]?
What does this mean? Does it reflect the public's subconscious response to predatory banking? Or is it just some guy having nerdy fun with data sets by juxtaposing two trend lines that have nothing to do with one another? We report, you decide.
Here's what we do know: Like their fictional counterparts, America's banks are revenants, re-animated creatures who were brought back from the dead through the public's generosity. Now they're feasting on the rest of us again, while politicians in Washington work to rob us of the few tools we can use to defend ourselves. With some Democratic complicity, Republicans are fulfilling the promise of Rep. Spencer Bachus, who said that "Washington and the regulators are there to serve the banks."
And what they're serving them is you.
The Count: "Listen to them! The creatures of the night. What music they make ..."
The rap sheet against America's banks grows longer and longer. They keep stringing people along with phony foreclosure negotiations, and then foreclose anyway. And we're hearing more and more stories about bank agents who, as they're invading and padlocking illegally foreclosed homes, also steal the private property inside them. In
Reuters reports:
Shadow inventory is seen as one of the chief threats to the fragile housing market that is showing new signs of weakening.
***
Adding to the problems are errors in processing tens of thousands of foreclosure cases at Bank of America Corp, the largest U.S. mortgage servicer, and other financial institutions.
The massive failure to provide proper documentation in court has resulted in delays to an already lengthy processes of repossessing homes, leading to a backlog in paperwork and repossessions as the companies fix their procedures. The banks are also facing a nationwide probe by state attorneys general.
***
What’s more, buyers of distressed properties have become gun shy due to the foreclosure processing problems, according to a Campbell/Inside Mortgage Finance survey of real estate agents.
The poll found 14 percent of owner-occupant homebuyers and 6 percent of investors refused to view foreclosed properties in October.
And Zack’s Investment Research writes:
Foreclosures have slowed recently, but that is only because of the fraudclosure scandal, where the banks have proved to be exceptionally incompetent in handling the paperwork related to securitized mortgages. Basically, they can’t really prove that they hold the mortgage, and thus don’t have the right to foreclose.
It remains to be seen just how big a problem that will prove to be. It could just be a technical glitch that will gum up the works for a few months, or it could be a HUGE problem that once again undermines the solvency of the entire banking system.
***
What is clear is that what [Bank of America, Wells Fargo and other big banks] were doing was illegal and at least technically constituted fraud and misrepresentation to the courts.
There should be more than a handful of bankers who end up with long terms in prison as a result. Just because there should, however, does not mean that there will be. White-collar crime is simply not taken seriously in this country relative to blue collar or street crime, even though the amount stolen with a pen far exceeds the amount stolen with a gun.
For those who doubt that fraud is rampant in the mortgage paperwork mess, see this, this, this, this, this and this .
There are obviously other factors responsible for the softening housing market, such as the end of government stimulus programs regarding housing, and poor employment conditions. But as I’ve pointed out early and often, these problems are all interrelated. See Another Nobel Economist Says We Have to Prosecute Fraud Or Else the Economy Won’t Recover.
robert shumakeCNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Days after 100000 fish and approximately 4000 red-winged blackbirds were found dead in Arkansas, 500 deceased blackbirds and starlings were discovered on a Louisiana highway.
Progressive rock legends Pink Floyd have re-signed with their longtime record label EMI.
robert shumake
robert shumake
