The Texas Attorney General demands foreclosures stop

IMPORTANT FACTS ABOUT FORECLOSURE AND MORTGAGE FRAUD Foreclosures via DECEPTIVE and FRAUDULENT PROCEEDINGS enables repetitive, and illegal property flipping; it enables lenders to falsify IRS form 1099-A’'s; it enables unscrupulous foreclosure mill lawyers (especially because of judges who purposefully abet deceit) to deceptively hold auctions and make insider bids to acquire those properties; and blighted neighborhoods. Fraudulent foreclosures ensure the success of FABRICATED BANKRUPTCY COURT 'Lift Stay motions' and false 'Proof of Claims'. In Louisiana, two particular companies that benefit from fraudulent foreclosures are Wells Fargo and Freddie Mac. Representations about Freddie Mac’s billion dollar losses should be weighed against the needless money Freddie Mac –as well as other lenders– PAY to foreclosure mills and debt collectors who utilize court systems to outmaneuver and persecute property owners who oppose unlawful foreclosures and repossessions. When property owners file justifiable lawsuits for fraud and for OUTRAGEOUS “Unfair Debt Collection Practices” against lenders and foreclosure mills, those same mill lawyers get to make even more $$$$ from the latter lawsuits as the mill lawyers litigate and cover up their own wrongdoings. Foreclosure via fraud is the reason for illegitimate homelessness and underhanded evictions, unjustified IRS tax bills due to false 1099-A's, and unfair "Deficiency Judgments." Ironically, some people who express their anger at "deadbeats" appear to be more acceptable about the manifest fraud and criminal activity being carried out by people with credentials to practice law. Equally ironic is the reality that some people pretending to be annoyed about "deadbeats"are the actual people who are participating in real estate racketeering -fully sanctioned by the majority of courts, especially Bankruptcy Courts! *more @ http://www.lawgrace.org/2010/09/30/important-facts-about-foreclosure-and-mortgage-fraud/

He can't stop it, unless he becomes the second coming of Obama and decrees it. Besides, what to most people in foreclosure do? They stop paying the mortgage and chunk away the cash for a rental, cause they won't qualify for a loan with the new rules. They trash out the house, leave it filled with garbage and unwanted items. The NEIGHBORS to these foreclosed houses have to look forward to a longer period with the eyesore next to them and a further depressed property value. So what is his motive here? Dirt cheap housing? Keep it up, it will happen this way. Let's guarantee even MORE foreclosures by letting them stack up on the market. And you have these radio and TV ads and lawyers giving you BAD advice such as to stop paying...or fall 6 months behind to force them to modify...then it doesn't work out quite that way. That's who the AG should go after. In Texas, is a judges approval required to foreclose? I'm not sure, but if not, it should be. I know some states allow the servicer to process a forclosure without going to court.

Huh? The AG can just chunk out a letter and make banks (and their responsible customers) suffer countless millions in losses? Here's a news flash, if you don't have your home paid off, it's not your home. Your crib is owned by Wells Fargo, and you are essentially a tenant in their property. Don't like it? Don't sign your mortgage contract.