Judges Rules Bank of America Foreclosures Unconstitutional

From Susanne Posel and the newly formed organization 'The United States Independent' comes the news that a Washington State judge has ruled a foreclosure carried out by Bank of America was unconstitutional because of flawed title issues; this affects the vast majority of foreclosures on houses that were bought between 2002 and 2008 or so; more at the video and the United States Independent dot com website; without hyperbole, this is HUGE; it paves the way for either the inability of all the banks that used the MERS titling system (basically any mortgage company that wasn't Fanny or Freddy, if I understand it correctly) to foreclose on any property for any reason, or for damages to be sought in court in the aftermath of an illegal/unconstitutional foreclosure.

Here's the video:

Provided that the District courts let this stand, on appeal... I imagine this will be fought up to the SCOTUS... fingers crossed! I know a few folks that got burned by B of A... would be nice to see justice get served.

would be nice to see justice get served.

reply to post by madmac5150


I wouldn`t get my hopes up....remember...thbis all started in 2008...it`s 2014 and how many bankers have went to jail? That's right...none. Justice is dead.

Here's some related material to add to the fire....

[emphasis added]

Bank of America Corp. (BAC), the second-biggest U.S. lender, rewarded staff with cash bonuses and gift cards for meeting quotas tied to sending distressed homeowners into foreclosure, former employees said in court documents.


Mortgage workers falsified records and were told to delay U.S. loan-assistance applications by requesting paperwork that the Charlotte, North Carolina-based bank had already received, according to statements from ex-employees filed last week in federal court in Boston. The lender improperly disqualified applicants to the Home Affordable Modification Program, or HAMP, according to a May 23 statement from Simone Gordon, a loss-mitigation specialist who left the company in 2012.


story from June 2013

Be careful, you may run out of time to sue the banks. Statute of limitations ..... sorry, I forget what it is called in the US. Time can run out.

P

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reply to post by deadcalm


More importantly, how many hapless home owners committed suicide or died of stress related disease or suffered severe mental health issues? Correct me (a lowly Canadian) if I am wrong, but does your justice system have no time limit for negligent homicide or manslaughter? These guys could be charged with some such offense and then tie them up in court and wipe them out financially......

Wouldn't the statue of limitations be extended due to this ruling? And what about other banks during the Wild West days of 2007-2008 specifically?

More importantly, how many hapless home owners committed suicide or died of stress related disease or suffered severe mental health issues? Correct me (a lowly Canadian) if I am wrong, but does your justice system have no time limit for negligent homicide or manslaughter? These guys could be charged with some such offense and then tie them up in court and wipe them out financially.....

reply to post by Cynic


First...there is nothing lowly about any Canadian...I should know, I'm one myself. I'm as lost as you are when it comes to the American injustice system.

The statue of limitations would start on the day Scotus ruled.

I know a couple people that got foreclosed by BOA.

reply to post by ANNED


Thanks, I appreciate the clarification. Nail the buggers then.

BOA has started changing their name to ??? Federal I can't remember . there's on down the road and the sign changed about a year ago and I read something about it in the paper. First Federated maybe. Can't find anything online but both offices here have changed

Oh...hell.....yes.

I'm tired of this system that rewards predatory financial behavior. And when you consider all the foreclosed, empty homes that the banks are sitting on, despite the huge numbers of homeless and poor people, I'd love nothing more than to see a domino effect of overturned foreclosures spread through the industry.

While this is a good ruling, it's been like molasses in winter getting this far. I expect actual individual suits to take even longer.

mikell
BOA has started changing their name to ??? Federal I can't remember . there's on down the road and the sign changed about a year ago and I read something about it in the paper. First Federated maybe. Can't find anything online but both offices here have changed

I didn't know this was in the works. So they're trying to pull a GMAC (called Ally Bank now) to see if everyone forgets their BS, eh? Not gonna work. Bank of Satan will never lose their bad reputation