Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Wall Street Journal
* APRIL 20, 2009

Bank Lending Keeps Dropping
Analysis of Treasury Data Paints Starker Picture Than Official Government Snapshots

Lending at the biggest U.S. banks has fallen more sharply than realized, despite government efforts to pump billions of dollars into the financial sector.

According to a Wall Street Journal analysis of Treasury Department data, the biggest recipients of taxpayer aid made or refinanced 23% less in new loans in February, the latest available data, than in October, the month the Treasury kicked off the Troubled Asset Relief Program.

The total dollar amount of new loans declined in three of the four months the government has reported this data. All but three of the 19 largest TARP recipients with comparable data originated fewer loans in February than they did at the time they received federal infusions.

The Journal’s analysis paints a starker picture of the lending environment than the monthly snapshots released by the government and is a reminder of the severity of the credit contraction. One reason for the disparity: The Treasury crunches the data in a way that some experts say understates the lending decline.

The Obama administration is scrambling to defuse a backlash surrounding the bank bailout. Political disquiet over banks’ perceived lack of lending, as well as their spending on bonuses and perks, has provoked skepticism about the administration’s ability to revitalize the banking system. Any evidence that banks are lending less could reinforce criticism of the program, and put pressure on plans crafted by Treasury to unfreeze credit markets and support bank balance sheets.

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   Refinancing at this point in time seems to me to be very foolish. In my
humble opinion, getting a loan modification is a much better and cheaper
way to go. By doing this you avoid most of the closing costs and expenses
involved in refinancing.
   Join the nationwide boycott by sending in only 50% of the principal
and interest they say you owe. (Be sure to send in the full amount of
the escrow for taxes and insurance, as that is a separate issue).
   The objective is a 50% reduction in P&I. We're in a strong position,
because even if they foreclose, they won't get more than that out of it.
(as a backup, look at foreclosures in your area in case they won't bargain.)
    Also, about 40% of the time, the servicer is not going to have the "NOTE"
which will put the homeowners in the "catbird seat" when negotiating in
Court. So, if they want to be "hardasses" about it, go to Court. The most
you can lose are the chains that bind you! GET YOUR SHARE OF THE TARP
MONEY, after all, homeowners pay the lion's share of local, state, and
Federal taxes. We are the stockholders in the USA, let's get back our funds!
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The Equitable One
Refi's and/or Mods both are bad ideas if you ask me.

So many loans in the past 5 years involve fraud, or other violations like TILA, HOEPA, doing anything other than filing suit against them is like cutting yourself off at the knees.

Why offer them anything when the contract is based in fraud and is therefore a void and unenforcable contract?

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    For those who understand the System and are bold enough, your idea
makes sense.
    For the majority who just want a high probability of success plan of
action without taking too much risk, the 50% plan is a good way to start.
    We can't expect people who have been trained since childhood to trust
their leaders, even while they're being screwed over big time , to act in
a totally radical way. Radicalism will increase as the American Middle Class
begins to understand the situation they have been placed in. People need
to learn how to negotiate and future success will depend on their learning
     The "mortgage crisis" is only the 'tip of the iceburg" problem we Americans
face. Once we solve that,we should have the courage to face even more
severe problems like "global warming" and the " energy crisis".
      For example, System leaders want us to believe that "CO2" is causing
global warming when common sense would tell us that "deforestation" is  the
true cause. We need to bring back "Common Sense" to America!
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This is a good post pasted from Neil's Living Lies site:

L .Fitzgerald, on April 17th, 2009 at 4:13 pm Said:                                

It's a United States of American tragedy and shameful national disgrace that millions of middle class working people that followed the advice of Wall Street Bankers,and opened their retirements plans, refinanced their Mortgage’s and after being lied to and manipulated by the very people we trusted... they are ransacking our last and most important asset our ..Homes.

The American Dream is being destroyed by a small group of Wall Street Corp Bankers.. .

The Congress, and many politicians are cooperating with their old college buddies by bailing them out so the bankers keep their mouths shut and keep their nice jobs and positions.

They are not protecting the working class people that have become innocent victims of the whole criminal scam .

To make matters worst ..Many judges and Big lawyer default specialist groups are fast tracking foreclosures, and the Justice system is not even granting a fair due process of law..

Final Summary Judgments are stamped and granted to the Plaintiffs that may not have a right to foreclose or even file a motion.

The justice system is working hand in hand with the most corrupt group of large law default groups and helping them steal a home; a house that they will sell for a windfall profit.

The justice system is working against the most unprotected and defenseless group of people not seen.. since the last depression of 1929.

These victims can’t afford to pay a defense lawyer ..and if they could pay ..many lawyer don’t want to work foreclosures..

Yes these middle class people that have lost their jobs,or have fallen into very hard times… thanks to the Wall Street ( Investment pools.,derivatives,Hedge funds, CDOs .) are being throw out ..into the street. like bag of trash.. .

What a nightmare . One year, your working and making a living , the next year your investments were stolen, you lost your business or job, and you are Homeless for the first time in your life. …

What a beautiful America Dream ….people living in tents , in their cars …..what a pretty picture.

The Wall Street bankers. politicians, and the Justice system ..they are doing okay ..
In fact ..they are buying your foreclosed house at a rock bottom price .. and getting richer for it.
The Rich and the Poor . The middle class is being exterminated by a unjust system….

I remember reading about the French & Russian Revolution. King Louie and the Zar Alexander were very comfortable in their palaces ….while the poor folks outside were starving . Is History repeating itself …in America …

My last hope is that a movement for justice for all is planted into the conscience of our leaders before more damage is inflicted to the American Dream …a dream for a fair deal in this wonderful country .

I had to blow off steam….whats happening today is a tragedy .

I was a volunteer in the Regular Army 1972-74 ..Vietnam Era

I mentioned this to clear any doubt that I love my Country and that I served and did my duty .

I love my fellow veterans ..I feel a brotherhood for them ..especially on my visit to the V.A. Clinic.

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“It is impossible to buy a toaster that has a one-in-five chance of bursting
into flames and burning down your house. But it is possible to refinance your
home with a mortgage that has a one-in-five chance of putting the family out
on the street….”
Elizabeth Warren
Leo Gottlieb Professor of Law
Harvard University
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You can return a car if it's not what you ordered.  Try returning a house if it's not what you thought you bought.

Stephen G. Bishop
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