- re: Fraudulent Foreclosures, Illegal Seizures & Evictions, 1099 fraud upon the IRS
Because more and more people are becoming homeless, an investigation is needed because far too many foreclosure proceedings are NOT even lawful due to lack of real party interest, while those debt collectors actually are being unjustly enriched!
FORECLOSURE FRAUD also cheats Investors, and certain mortgage companies. This fraud occurs when debt collector attorneys deliberately file judicial foreclosures under names of defunct mortgage banks or companies, or companies which do not own the promissory notes, effecting illegal seizures. Those collectors charge fees far beyond "Acceleration Clauses," and make it impossible for borrowers to recover their properties or bring current mortgage arrears. SEE: http://chuckgallagher.wordpress.com/2008/01/03/foreclosure-fraud-an-interesting-variation-of-mortgage-fraud-comments-ethics-speaker-chuck-gallagher/.
Even more $$ comes from protracted litigations like "Unfair Debt Collection Practices," etc. (*Example of foreclosure litigation in: "Super Future Equities v. Wells Fargo Bank, et al.") For predatory and deceptive mortgage lenders, foreclosure frauds are bonanzas because it makes possible real estate FLIPPING frauds, and misleads Investors concerning housing markets. SEE:
Foreclosure fraud also enables mortgage companies to file false IRS 1099-A's and 1099-C's and receive unlawful tax write offs and tax credits. SEE:
www.lawgrace.org/2008/08/08/my-august-8-2008-statement-to-the-louisiana-secretary-of-state-office-of-financial-institutions-concerning-wells-fargo-irs-and-mortgage-frauds-sham-foreclosures-and-judicial-collusion-and-national-app/. Also, some unscrupulous debt collector attorneys are committing fraud in Bankruptcy Court by filing sham "lift stay" motions via use of movants which lack STANDING. For irrefutable proof and extensive details about real estate fraud, visit: www.lawgrace.org.
Barbara Ann Jackson
Law & Grace, Inc (Posted on March 27, 2009, 2:27 pm Barbara Ann Jackson)