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David's Macro Blog

Analysis and commentary on business, economics, real estate, financial markets, and other fun topics

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Tag: Foreclosure

Ever wonder how the real estate boom and bust occurred? Why is the foreclosure process such a mess and causing problems across the country?

The system was set up for failure.

Watch both videos of the deposition of alleged robosigner Dhurata Doko of Nationwide Title Clearing. The deposition was taken by attorney Christopher Forrest of The Forrest Law Firm.

This is not about the actions of a few lower-level employees but the system created by those in power.

Part 1

Part 2

Again, this is not about the people performing tasks on a daily basis — they were NOT the ones in power or control. They were just following orders from above.

Other robosigner deposition videos:

Ever wonder how the real estate boom and bust occurred? Why is the foreclosure process such a mess and causing problems across the country?

The system was set up for failure.

Watch all three videos of the deposition of alleged robosigner Brian Bly of Nationwide Title Clearing. The deposition was taken by attorney Christopher Forrest of The Forrest Law Firm.

This is not about the actions of a few lower-level employees but the system created by those in power.

Part 1

Part 2

Part 3

Again, this is not about the people performing the tasks on a daily basis — they were NOT the ones in power or control. They were just following orders from above.

Other robosigner deposition videos:

Ever wonder how the real estate boom and bust occurred? Why is the foreclosure process such a mess and causing problems across the country?

The system was set up for failure.

Watch all four videos of the deposition of Crystal Moore, alleged robosigner of Nationwide Title Clearing. The deposition was taken by attorney Christopher Forrest of The Forrest Law Firm.

The main issue is not the actions of a few low-level employees but the system created by those in power.

Part 1

Part 2

Part 3

Part 4

Again, this is not about the people performing the tasks on a daily basis — they were NOT the ones in power or control. They were just following orders from above.

Other robosigner deposition videos:

“Taking the law into their own hands” is a phrase used to describe aggressive actions by people who feel slighted in such a way that waiting for traditional law enforcement isn’t acceptable.

Due to the massive foreclosure fraud (called “Foreclosure Gate”) perpetrated by the big banks, some Americans are fighting back.

Jim and Danielle Earl in Simi Valley, CA broke into their former home that was sold at trustee sale auction to a professional flipping company. The Earl family, with their attorney, Michael Pines, seized the home after the investment company fixed it up and were about to sell it to new owners. The police were there but did nothing to stop the theft of the home by the Earls.

How is this not breaking and entering?

The logical consequence of the banks’ blatantly breaking the law (see Systemic Foreclosure Fraud by Lenders) is that average citizens will fight back and take the law into their own hands.

Do we really want civil unrest? Can the government do anything to fix this quickly? Do two wrongs make a right…or just more wrongs? Share your opinion on this situation in the comments below.

Conejo Capital Partners, the company that bought the home at trustee auction tell their story here: 5893 Mustang

So, does anyone still believe that cheap credit and easy money from the Federal Reserve after the Dot Com Crash was a good thing?

More About Families Stealing Back Foreclosed Homes

Foreclosure Fraud By now you’ve probably heard of the massive fraud in foreclosures perpetrated by lenders in their haste to cut costs and process the high volume of forecloses quickly. Some of the biggest issues at the heart of the now nationwide foreclosure moratorium go to the heart of our legal system and the rule of law.

There are two depositions of paralegals at the David J. Stern law firm in Florida that you must read. These two employees describe the climate, culture, and operations of a “Foreclosure Mill“. This blatant disregard for the rule of law is so embedded in the culture there that our very freedoms and trust in the fairness of the egalitarian “American Way are at risk.

The biggest issues are that the Stern law firm (and probably most of the foreclosure industry) perpetrated fraud upon the courts by falsely signing affidavits and creating fictitious legal documents in order to capture fees for processing foreclosures quickly.

I know these are lengthy depositions, but it is well worth reading BOTH documents (embedded below) so that you understand the issues and realize the gravity of our situation should this systemic fraud continue.

My Thoughts on Foreclosure Fraud

Yes, home owners who haven’t paid their loan should lose their homes to foreclosure, but NOT through legal fraud imposed upon them by the banks and their servicers. Are we a 3rd-world nation where bribes and legal malfeasance direct action?

False affidavits are not unlike perjury in the courtroom because an affidavits is similar to a courtroom testimony. Many, many people should go to jail; let’s hope some of those at the top do; not just a few scapegoats.

Deposition of Tammie Lou Kapusta – Law Office of David J. Stern

Full Deposition of Tammie Lou Kapusta Law Office of David J Stern

Deposition of Cheryl Sammons – Law Office of David J. Stern

Full Deposition of the Soon to Be Infamous Cheryl Samons RE Deutsche Bank National Trust Company, As Truste…

More About the Foreclosure Mess and Fraud

Fraud Factories: Rep. Alan Grayson Explains the Foreclosure Fraud Crisis