Egad.... central casting couldn't have come up with a more perfect image for a corporate crook....
Posted on 10/11/2010 9:13:41 AM PDT by ex-Texan
Egad.... central casting couldn't have come up with a more perfect image for a corporate crook....
Angelo Mozilo
Rated as one of the worst CEO’s of corporate America and in the list of CEOs blamed for the Great Recession now haunting our country, Mozilo earned over half a billion dollars from Countrywide while the country fell into the subprime mortgage crisis.
So far, the only real fallout I see is the prospect of millions of suits to quiet title for homes that are foreclosed upon.
Lawyers will be in hog heaven.
That's because if this guy is right they are going to make a profit by flipping your house, so they really want to foreclose not come to some agreement with you.
My God.
Scream bloody murder. Shame on you, JP Morgan Chase, Dimon and you Board Members.
“Chase Mortgage started foreclosure proceedings against us and that is not the case with me.
We have NEVER missed a payment to Chase Mortgage.... in over eight years. Never one payment!
We applied for loan modification last December. The process was supposed to take 90 days. Our payments were dropped during the trial period and we made every payment. Nine months later Chase was still telling us to “be patient” because of their backlog.
Last week we get certified letters that Chase is foreclosing on our house for non-payment. Chase is now claiming that loan modification payments do not count towards being a “current payment.” And since we are “nine months behind” they are foreclosing.
Now they will not accept any payment from us because of the foreclosure proceeding.
They just want our house.”
Director Board Committees
Crandall C. Bowles
Chairman
Springs Industries, Inc. (Director since 2006, JPMorgan Chase)
Stephen B. Burke
President
Comcast Cable Communications, Inc.
(Director since 2003, JPMorgan Chase or predecessor institution)
David M. Cote
Chairman and CEO Honeywell International, Inc.
(Director since 2007, JPMorgan Chase)
James S. Crown
President
Henry Crown and Company
(Director since 1991, JPMorgan Chase or predecessor institution)
James Dimon
Chairman of the Board and CEO (Director since 2000, JPMorgan Chase or predecessor institution)
Ellen V. Futter
President and Trustee American Museum of Natural History
(Director since 1997, JPMorgan Chase
or predecessor institution)
William H. Gray, III
Co-Chairman GrayLoeffler, LLC
(Director since 1992, JPMorgan Chase or predecessor institution)
Laban P. Jackson, Jr.
Chairman and CEO Clear Creek Properties, Inc.
(Director since 1993, JPMorgan Chase or predecessor institution)
David C. Novak
Chairman and CEO Yum! Brands, Inc.
(Director since 2001, JPMorgan Chase or predecessor institution)
Lee R. Raymond
Retired Chairman and CEO Exxon Mobil Corporation
(Director since 1987, JPMorgan Chase or predecessor institution)
William C. Weldon
Chairman and CEO Johnson & Johnson (Director since 2005, JPMorgan Chase)
Other Board Committees
In addition to the committees mentioned above, the Board has one Stock Committee and a Board-level Executive Committee.
The Stock Committee, which acted two times in 2007, consists of James Dimon. Its authority includes the declaration of dividends, authorization of the issuance of stock within Board-approved limitations, administration of the dividend reinvestment plan and implementation of share repurchase plans in accordance with Board-approved capital plans.
The Board-level Executive Committee consists of James S. Crown, James Dimon, William H. Gray, III, Laban P. Jackson, Jr., David C. Novak and Lee R. Raymond. It may exercise all the powers of the Board that lawfully may be delegated. The Board-level Executive Committee was established with the expectation that it would not take material actions absent special circumstances. There were no meetings of the Board-level Executive Committee in 2006 or 2007.
Contacting Board Members
To contact any Board member or committee chair, please mail your correspondence to: JPMorgan Chase & Co.
Attention (Board member)
Office of the Secretary
270 Park Avenue, 38th Floor
NY, NY 10017
Biographies
Crandall C. Bowles
Stephen B. Burke
David M. Cote
James S. Crown
James Dimon
Ellen V. Futter
William H. Gray, III
Laban P. Jackson, Jr.
David C. Novak
Lee R. Raymond
William C. Weldon
Repeat: To contact any Board member or committee chair, please mail your correspondence to: JPMorgan Chase & Co.
Attention (Board member)
Office of the Secretary
270 Park Avenue, 38th Floor
NY, NY 10017
Yes, I am using the word “fraud” VERY broadly. I am not concerned with what caused this, really. What I am concerned with is what we are left with. I am concerned that we are left with a house that is so eaten with termites that the slightest breeze will knock it down and, short of intentionally destroying it, the only option is to do just that and build a new one.
I may be overblowing this, but I don’t see a human solution to this. Or, to but it more bluntly, I don’t see people doing the right thing voluntarily. As with the article I link below, I believe they will do it because they have no choice. And that means it will get very bad first.
http://www.freerepublic.com/focus/f-news/2603197/posts
Frankly, I am looking at the subject of this thread through the lens of the link above and other stories like it.
I think we are about to shift from talking about “things could get bad” to things actually getting bad.
We DID make all of our trial payments!
Did you read my post?
These banks need to be investigated. Even if 80-90 percent of the foreclosures are legitimate, they are still scamming the other 10-20 percent who are people like me.
Oh yeah!!
Which is BS. Deadbeat borrowers are ALSO lawbreakers.
A mortgage is a contract between two individuals. And just like any contract, if one side fails to meet their obligations under the contract, there are legal rememdies which can be pursued in civil, not criminal, court.
OK, so there is plenty of blame to go all around on this one.
My question is this: When me and my wife bought our house, we scraped. We drove ten year old rigs. We didn’t go on fancy vacations. We ate macaroni and cheese. And we paid the mortgage off, finally.
So WTF do I have to do to get my free house? A nice little vacation cottage somewhere on the water, maybe?
Grrrrr.....
Who won't pay crooked bankers... who colluded with a crooked appraisal industry to inflate prices far above actual value.
I have been explaining what was coming to people since 2000. Now we are here. I didn't have prophetic powers - just honesty and integrety.
The banks had every means to know what was coming, and the securities packaging shows they planned for it in advance.
Most home owners? They believed what the banks and appraisers told them.
There is no way to squirm out of responsibility now for the banks.
They’re just going to use this loophole to screw the banks, which is BS.
Yes, any statements that the banks are the ones getting screwed is absolutely Barney Frank /Chris Dodd BS of the highest left wing order.
...gave it back for the bank to resell. At worst it's a gray area, especially in this environment where you simply can NOT trust the banks to be even slightly honorable on their end.
Oh, I read “dropped” as in “suspended” not “reduced.”
Well, clearly if you have everything well documented, this will be an easy case to get a lawyer to take.
So long as you:
1) Sue for reinstatement of your mortgage
2) Sue for attorney’s fees
3) Reasonable damages (NOT “give me my house for free now”)
The problem I see is that many borrowers are taking #3 to the limit. And actually winning. And that’s just sad.
How do I get this video out to the state attorney generals?
It’s about IndyMac/OneWest’s deal with the FDIC to reimburse OneWest for foreclosures - that’s why they are refusing short sales.
http://www.foreclosurehamlet.org/video/short-sale-scam
Did you get pinged to this thread?
Correct! There are times when what must be done, must be done. And we are in a time like that.
>>That hasn’t stopped them before.<<
That is because it wasn’t too big for them. My definiiion is that they will not be able to handle it, much as Nazi Germany was unable to stop the Russian army from pushing through Berlin.
I’m talking more apocalyptic than many here.
Guess you never heard of “contract law”, huh?
It may be news to you, but people DO have a legal obligation to uphold their end of a contract.
So, yes - given that people have a legal obligation to uphold their end of a contract, deadbeat borrowers are *also* lawbreakers.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.