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Subprime mortgages are making a comeback

Apparently the biggest banks in the US didn’t learn their lesson the first time around… Because a few days ago, Wells Fargo, Bank of America, and many of the usual suspects made a stunning announcement that they would start making crappy subprime loans once again! I’m sure you remember how this all blew up back […]

via The Subprime Mortgage Is Back: It’s 2008 All Over Again! — Easy Money

This is very bad news for the economy as this will make the real estate bubble grow even larger and guarantees that the next real estate crash will be several orders of magnitude worse than the last one.

 

Foreclosures lead to profits for house flippers

http://www.truth-out.org/opinion/item/41151-foreclosures-lead-to-flippers-profits The United States has entered a new phase of residential foreclosure. The basic narrative is shocking: House-flippers are being allowed to push troubled homeowners out of their houses. As a neighbor of mine said, succinctly, “It’s cheaper for them.” In an ugly way, house flipping is a sweet deal in any area where the […]

via Foreclosures Lead to Flippers’ Profits — Livinglies’s Weblog

That is outrageous that anyone that has a direct pecuniary interest in foreclosing on a homeowner would ever be allowed to become a substitute trustee.  This practice needs to stop now.

 

10th Circuit refuses to apply Jesinoski decision

US Bank, rescission,

via 10th Circuit Challenges SCOTUS on TILA Rescission — Pohl v US Bank, “Trustee” — Livinglies’s Weblog

This is a bad decision that is made even worse by the fact that this decision is published which means that it is now binding authority in all Courts under the jurisdiction of the Tenth Circuit Court of Appeals.  The real danger is that Judges in other areas of the United States can still cite this case as persuasive authority.

Spanish bank Banco Popular has collapsed

Editor’s Note: The collapse of Spanish megabank Banco Popular happened this month after government and regulators assured investors it had passed a stress test with the European Banking Authority. The failed bank was taken over by Santander, another megabank, but the shareholders lost everything as did the suppliers of contingent capital in the coco bonds. […]

via Too Big to Fail, Not too soon to Tell — Livinglies’s Weblog

This article is just more proof that you cannot trust any big bank, or any supposed government banking regulators. Nothing will change until they start jailing the top executives of the big banks after they have had to do the “perp walk” on live nationwide television.

Pennsylvania woman’s lawsuit against her former attorneys’ can proceed

A woman claiming she had to sell her home because of her lawyers’ botched foreclosure work can move forward with her legal malpractice and fraud suit, a federal judge has ruled. Christine Bernstein sued Keaveney Legal Group along with lawyers James P. Keaveney and Joshua Thomas for violations of the Pennsylvania Unfair Trade Practices and […]

via Legal Mal Suit Against Foreclosure Lawyers Proceeds — Livinglies’s Weblog

That is good news that this woman will have her day in Court against the attorney’s that took $8,000.00 from her yet failed to do what they were paid to do.

 

Trouble is brewing in banker paradise

Authored by Adam Taggart via PeakProsperity.com, In our recent report, Banks Are Evil, we pulled no punches in making the accusation that the financial system is the root cause of injustice in today’s society.ADVERTISING It’s a good blood-boiler. You should read it if you haven’t already. Its main premise is this: In my opinion, it’s […]

via Sympathy For The Devil? Trouble Is Brewing In Banker Paradise — Livinglies’s Weblog

FOIA requests for information on bidding and title issues.

Concealed information may still be available. An increasing number of people have showed me that they did receive documents that were responsive to their requests from a government agency — VA, Fannie Mae, Freddie Mac, Sallie Mae etc. Get a consult! 202-838-6345 https://www.vcita.com/v/lendinglies to schedule CONSULT, leave message or make payments. THIS ARTICLE IS NOT A […]

via Don’t Forget FOIA Requests — Info on Bidding and Title — Livinglies’s Weblog

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