Justice investigating foreclosure problems at banks

[ProSense]

Source: The Hill

The Justice Department is looking into the foreclosure practices of financial institutions for possible violation, Attorney General Eric Holder said Wednesday.

Several financial institutions have halted foreclosure proceedings over concerns about incomplete or inaccurate paperwork, including Ally Financial Inc, formerly known as GMAC, JPMorgan Chase and Bank of America.

"We are aware of the charges that have surfaced in the newspapers in the last couple of days and we're looking at them," Holder told reporters during a news conference today.

The problem stems from issues with "robo-signers," middle managers who sign affidavits allowing banks to repossess homes that are in default. Several have admitted in depositions that they signed off on thousands of foreclosures without fully reviewing the loan documents.



Read more: http://thehill.com/blogs/on-the-money/banking-financial-institutions/122997-justice-investigating-foreclosure-problems-at-banks

[Robbien]

1. If an individual turned in false papers to the court system

they would be immediately tossed into the privately owned prison system.

In this case the Justice Dept just tells the media it will think about maybe looking into "problems" the banksters may or may not have caused. It will get back to us.

[ProSense]

2. Pelosi

clearly doesn't have the same clout as Grassley

[KansDem]

3. I thought the same thing

What is that line just before you sign a contract or agreement? Oh, yeah...I declare that all of the statements contained in this application are, to the best of my belief and knowledge, true and correct...

I wonder how the banksters are going to wiggle out of this one...?

[Robbien]

5. Banksters are already pushing their propaganda plan

articles are already out such as:
Industry insiders warn foreclosure moratorium could hurt Texas housing market
http://www.dallasnews.com/sharedcontent/dws/bus/stories/100710dnbusforeclosureshalt.164287467.html

and there are plenty more new articles out there where that one came from.

If we don't allow banks to defraud us, we get another recession banksters say.

[girl gone mad]

4. It's taken a near meltdown..

to get them to even pay attention.

[ProSense]

6. Near meltdown?

The meltdown started in 2007