“Alternative Facts” Promoted by Banks

Banks have the money and therefore stand closest to the microphone of media. For every report that foreclosures are continuing or rising in number there are 20 reports that the foreclosure crisis is over. This report shows that in New York City foreclosure continue at the same rate as the 2008 recession.

The press has failed, intentionally or unintentionally to give the true facts: While there are accurate reports from small towns that the foreclosure crisis is over, the overwhelming evidence is that the overall pace is stepping up and in many cases never abated.

The banks got increasingly sophisticated in the distribution of foreclosure starts. Where the market heats up they lean back and start in another community. This makes these situation appear under control. The fact remains that the foreclosures are wrongful and should be stopped.

see http://www.businessinsider.com/new-york-city-foreclosures-highest-since-the-great-recession-2018-1

 

 

3 Responses

  1. As this administration did not renew HAMP, the forecloses may be rising. Economy is not getting any better either when many long known characteristic businesses are closing down. Some businesses are seen demolished in some towns.

    There is a talk that some mysterious investors buying properties with unrefusable offers making some successful businesses shutting down.

    Like

  2. Maxim – Once a fraud, always a fraud.

    Like

  3. I am now writing about foreclosure victims to show it’s still going on and it’s much bigger fraud than 2-3 million fake bank accounts at Wells Fargo. I draw from my 8 years as an awarded journalist and 6 years in local foreclosure court.

    Looking for the magic bullet to stop the Epic fraud. Most courts are upholding the “unfair and deceptive practices defense”

    Skip over the verbose and complex defenses because this is the one judges support. It’s pretty easy to meet the two requirements to 1) show a loss and that 2) it was caused by an unfair business practice.

    You don’t have to prove negligence or any crime such as fraud just an unfair practice that coaxed you into losing your home.

    We need to stop complicating the issue and cut to the obvious. Banks are manipulating foreclosures so that people can’t make payments.

    Like

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