CREDIT SLIPS: $45 MILLION FOR STAY VIOLATIONS

“The mirage of promised mortgage modification lured the plaintiff debtors into a kafkaesque nightmare of stay-violating foreclosure and unlawful detainer, tardy foreclosure rescission kept secret for months, home looted while the debtors were dispossessed, emotional distress, lost income, apparent heart attack, suicide attempt, and post-traumatic stress disorder, for all of which Bank of America disclaims responsibility.”  All too familiar.

$45 Million for Stay Violations posted by Alan White

How much in punitive damages is enough to punish unlawful conduct and deter its repetition? $45 million was one bankruptcy court’s opinion, in the case of a wrongful home foreclosure and eviction in knowing violation of the automatic stay.

The court described the plaintiff-debtors’ treatment by defendant Bank of America as Kafkaesque, and found their deeply emotional testimony (one of them attempted suicide during the ordeal) completely credible, awarding more than $1 million in actual damages for the loss of housing and emotional distress. The court also noted that Bank of America had repeatedly settled cases with federal and state regulators for hundreds of millions, and even billions, of dollars, in recognition of serious and repeated compliance failures, including some related directly Continue reading

99 Homes – Real Life Thriller

The trailer for 99 Homes introduces a mother-son-grandson family unit, with Laura Dern and Andrew Garfield at the helm. After the family gets evicted in traumatic fashion and moves into a motel, Garfield makes, in Bahrani’s words, “a deal with the devil.” He goes to work for the man who evicted his family, played by Michael Shannon, for a chance at earning enough to get a more permanent roof back over their heads. Continue reading

The Shelley Report – Foreclosure Press

In case you missed it: Top stories for August 2013 provided by Shelley Erickson

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Two outstanding decisions this week (click on the case for the Opinion-PDF): Continue reading

Obama Grinch – What the Republicans Grasp that the Democrats Ignore

What the Republicans grasp that the Democrats ignore is that the vast majority of the 99% want the bank cartel to collapse. Albeit the average American is not prepared to endure the final financial force majeure – they just know they want an end to the corruption.

So, the Republicans, who will eat their own, high-five (with a wink) when the banks slip in the stock market and the Tea Party vows to audit the Federal Reserve (if not outright eliminate it)…which they know the majority of Americans want. All of this is transpiring as the economy rolls on to a horrific collapse while Obama surrounds himself Continue reading

Wells Fargo Please Wait Until The Case Can be Heard on May 1st – You Do Not Have to Evict the Family on EASTER SUNDAY!!!!!!!

Update: The Dubin Law Offices successfully negotiated a reinstatement of the mortgage loan for the Tehiva-Phillips family shortly before the
2012 Christmas holidays. Merry Christmas!

Wells Fargo has agreed to a postponement of ejectment until after the pending hearing.   Happy Easter. Mahalo to everyone.

PLEASE STOP THE EVICTION OF THE PHILLIPS-TEHIVA FAMILY
HATOTA TEHIVA, JAYDENE PHILLIPS TEHIVA, and JOYCELENE PHILLIPS
Hana, Hawaii 96713
Loan # 111003400
We support the Phillips-Tehiva `Ohana and the right for them to remain on their property at
5305 Hana Highway in Hana,
Maui, Hawai`i.
The nine family members, including 6 children and an ailing grandmother, are about to be evicted from land that has been in the family since the
Great Mahele.

The family has a reconsideration hearing in Second Circuit District Court scheduled for May 1, 2012.

HOWEVER, their eviction is scheduled for EASTER SUNDAY morning at 10:00 am. EASTER SUNDAY!  Continue reading

“Crappy settlements” have become a cheap payoff system not serving the public interest.

It will only continue to get worse. What will it take for our politicians and government to understand that the securities fraud committed by Wall Street and their associates have created joblessness, homelessness, foreclosure and eviction that has affected families across the country? How can we continue to ignore the enormous wrongs?

Judge Rakoff was right when he told the Securities and Exchange Commission that their deal with Citigroup Global Markets, Inc. was not transparent enough and stated,
“[T]he Supreme Court has repeatedly made clear, however, that a court cannot grant the extraordinary remedy of injunctive relief without considering the public interest.”

The public interest has been sorely damaged by the fraud committed by the Wall Street Continue reading