[CitizensTruth] The Other Shoe Drop In The Foreclosure Crisis: Non-completed Forclosures haunt unaware homeowners and communities

[Geri Perry]

Well.....

guess what ? The crooks are back in business - reinventing themselves as 
"loan fixers."

This is an all out war on the middle class, but we don't want another 
federal agency to track this **** as the fallout from the Home Owners 
Loan Corporation of the 1930s clearly showed.

We need MONETARY REFORM, and decentralization of the banking system. 
Otherwise, the more things change the more they will stay the same!

geri p



Daniel Stafford wrote:

> *Foreclosures at Record High in First Half 2009 Despite Aid *

> http://www.truthout.org/071609A?n 

> <http://messenger.truthout.org/ss/link.php?M=33448&N=109&C=3de39b7f486da6123cdc0933336b67b4&L=884> 

>

> Lynn Adler, Reuters: "U.S. home foreclosure activity galloped to a 

> record in the first half of the year, overwhelming broad efforts to 

> remedy failing loans while job losses escalated."

>

> http://blog.cleveland.com/metro/2009/07/bank_walkaways_from_foreclosed.html

>

>

>       Bank 'walkaways' from foreclosed homes are a growing, troubling

>       trend

>

>

>         Posted by Sandra Livingston/Plain Dealer Reporter

>         <mailto:slivings at plaind.com> July 19, 2009 09:00AM

>

>

>

> John Kuntz/The Plain Dealer

>

> A pair of boarded up windows are overgrown with vines on a foreclosed 

> home on the city's East Side. Banks are backing away from properties 

> they have foreclosed on creating a new set of issues for neighborhoods.

>

> Renetta Atterberry thought she had lost her East 102nd Street house. 

> So she was shocked to learn in January -- five years after her 

> mortgage company filed for foreclosure -- that it was still in her name.

>

> Worse, the long-vacant rental home had been vandalized and she faced a 

> raft of housing code violations. Since then, she has been saddled with 

> debts of* *about $12,000 to pay for demolition and back taxes.

>

> "I thought I had nothing else to do with that home," said Atterberry. 

> "I was so embarrassed and humiliated by this."

>

> Her mortgage company didn't buy the house and never took it to 

> sheriff's sale to see if somebody else would, leaving Atterberry the 

> legal owner, responsible for upkeep and taxes.

>

> These so-called "bank walkaways" are another troubling development in 

> the foreclosure crisis, particularly in cities like Cleveland with 

> weaker housing markets, say housing advocates and government officials.

>

> Lenders or mortgage companies decide they don't want homes they have 

> already foreclosed on...

>

> Full Story:

> http://blog.cleveland.com/metro/2009/07/bank_walkaways_from_foreclosed.html

>

> ---------------------

>

> >From Dan:

>

> The above article is a Must Read item. You have a vastly incomplete 

> picture of the damage being done by the foreclosure war on the Middle 

> Class and municipal governments if you aren't aware of this. This 

> issue screams out for a nation-wide organization to track and overcome 

> it. These banks are willfully evicting people from their homes, then 

> walking away from the half-completed foreclosure process without 

> removing the prior homeowners' names from legal title. This leaves the 

> prior homeowners, who thought they no longer had anything to do with 

> these properties, liable for code violations and back property taxes, 

> while leaving the homes rotting away in legal limbo. It has an 

> horrific effect on communities.

> ------------------------------------------------------------------------

>

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