Foreclosure Defense Florida

Bank of America Suspends Foreclosures- Federal Moratorium to Follow

WSJ-foreclosure-weidnerSearch back on this blog and sites like 4Closurefraud.com and Foreclosurehamlet.com.   We’ve been arguing for months now that the only legitimate response to the foreclosure crisis is a moratorium.

Our so called state and national “leaders” have not yet taken the chance to show real leadership and do such a thing, but the lenders that caused all this mess are implementing moratoriums on their own.

See the latest Wall Street Journal Article Here.

Type the word “Moratorium” on this blog and see how long I’ve been arguing for it.   Now, when the title claims start rolling in.   When the title underwriters cannot handle their claims.   When the losses for the banks and insurors cannot be covered without a bailout, just calculate how many billions would have been saved if the moratorium would have been implemented back when we all started screaming for it.

Just something to think about.

5 Comments

  • Blue Floridian says:

    This is huge. Bank of America means all the Countrywide Loans. It also means quite a bit of Freddie Mac’s portfolio. I did two motions to dismiss on BAC loans alone today as well as two requests for Judical Notice on BAC loans because of the AGs investigations. It is the beginning of the end though and it will be tragic the repercussions on the economy and the collapse of real estate market and homeownership.

  • Stupendous Man says:

    I’m tickled pink at the recent developments. But I have this sinking feeling that no matter what happens it is still going to be the American tax payer that gets stuck with the bill. There simply isn’t any scenario I see in which it isn’t going to be very, very expensive. This is even more reason to prosecute those that have foisted this massive fraud upon us. its gonna cost us anyway so lets make the guilty are appropriately charged, tried, and if convicted serve suitable jail time. I think a bit of restitution is also in order.

  • alrady says:

    Well we tried to fight BAC I noticed to day the trustee TIFFANY and BOSCO had lots of cancelled sales.. hmmmm

    Thinking we should go back to our forcible and enter in the new reports even if its closed and DEMAND a review. SICK SICK SICK they are still trying to oust us from home. Sold while waiting answer to QWR and having them reject Tila Recission based on past 3 year deadline.

    Then they evicted and we filed for BK and the BK judge would not even hear arguments since the trustee sale was before BK.. sick sick sick.

  • DSchiar says:

    Would not worry about the American taxpayer because they had received the shaft already. What is important is that he media has finally given in and reported on this lawlessness. Judges should be held accountable and jailed if necessary for not protecting the rights of the very people who put them there. Fort Myers Courts have removed more peoples from their homes with this lawlessness. Someone must pay.
    People should be able to go back and contest every single eviction and foreclosure from the begining even after the sale. If they don’t get it back then they should be comensated. Mr. Stern needs to lose his two 16 million dollar estates and three white titanics.

  • canceledcwmods says:

    Is there really going to be a ‘federal’ moratorium?

    Will it only be on Freddie/Fannie loans?

    There needs to be a NATIONAL moratorium. CA homeowners have documents that were signed by robo-signers and then we deal with robo-judges who do not want to hear that the foreclosure is a fraud.

    Even if Bank of America were to stop ALL foreclosures NATIONALLY, they have transferred servicing on some of these loans to places like LITTON LOAN.

    Unless there is a NATIONAL moratorium, I doubt that the actions by these DEBT COLLECTORS (yeah, that is YOU, LITTON) will be stopped short of the courtroom.

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