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Pasco Judge: Explain Why You're Screwing People
The Market Ticker ^ | 11/18/10 | Karl Denninger

Posted on 11/19/2010 9:25:59 AM PST by FromLori

Heh, Judge Gardner finally drank some coffee!

DADE CITY - Pasco County Circuit Judge Susan Gardner decided to take a closer look at her foreclosure cases after law firms were accused recently of overbilling and forging documents.

She doesn't like what she's finding – a mountain of fees to serve notice of foreclosure lawsuits to homeowners and to people who don't exist.

"Routinely, routinely, I'm seeing charges of $1,600, $1,800, $1,000, $800, any of those are ridiculous, and there had better be a good reason for it," Gardner said, noting that these fees should typically be $45 to a couple hundred bucks.

Isn't that nice?

The funny thing is that these loans are underwater. So while there's a definite screw job being applied here it's not going where you think it is.

That is, the homeowner owes more than the house is worth, so he or she's not paying these excessive larded-on fees.

The investors in the MBS are - that is, your pension fund is getting screwed coming and going!

It's good to see a judge finally wake up to this. The larding on of fees is one of those things that on an underwater loan the homeowner probably doesn't care much about, as it doesn't cost them anything, and the party that ultimately gets soaked for it is unlikely to even know it's going on.

Aren't these looters-cum-banksters cute?


TOPICS: Business/Economy; Government; Miscellaneous; News/Current Events
KEYWORDS: banks; foreclosures; pensionfunds

1 posted on 11/19/2010 9:26:03 AM PST by FromLori
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To: FromLori

I live just south of Pasco county, and I can attest that the mortgage situation is BAD there. Crime is through the stratosphere due to abandoned houses, and a lot of marijuana growers use those abandoned houses to grow crops without having a name associated to the growers. We hear weekly stories about hundreds of pounds of potted pot plants being removed from abandoned homes and no leads on the growers.

The mortgage situation in this state is bad and getting worse. I’ve only owned my home for coming up on 3 years now, and I’ve already lost 30% of the original mortgage value. Thankfully property tax rates have plummeted and I’m employed, but the abuse by the banks in this state is egregious, to be certain.


2 posted on 11/19/2010 9:31:12 AM PST by rarestia (It's time to water the Tree of Liberty.)
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To: FromLori

bflr


3 posted on 11/19/2010 9:46:21 AM PST by MileHi ( "It's coming down to patriots vs the politicians." - ovrtaxt)
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To: rarestia

Thats horrible and rarely talked about the side effects of the economic meltdown. The drugs, the money people lost on pensions. You are fortunate in Minnesota I saw on the news last night that taxes are going up even though property values had gone down. Of course in one county thats because of police pensions.

http://minnesota.cbslocal.com/2010/11/18/property-taxes-up-home-values-down-for-some/


4 posted on 11/19/2010 9:47:23 AM PST by FromLori (FromLori)
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To: FromLori

We’ve been VERY lucky on the property tax front. My fiancee lost her house a few years before we met due to property taxes spiking and essentially pricing her out of her home.

Since mine are low, I’m taking advantage of the situation and piling my extra income into the principal to get this thing under the 20% to do away with PMI.


5 posted on 11/19/2010 9:50:16 AM PST by rarestia (It's time to water the Tree of Liberty.)
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To: FromLori

This is why the Tea Party is popular and not the GOP. Problem with some conservatives is they are of the mindset that privater enterprise can do no harm, only gov is capable of ripping the people off. Private business is equally ruthless. Just look at who is hiring all the illegal immigrants, no only corporations but also main street businesses. Look who are willing to transfer technology to the Chinese so they can set up factories to put our workers out of work. Yet in the end, these guys will show up on free republic and complain about the border and the Chinese threat. If this country is going to restore itself, it must cut back the size of government and purge the business community of its traitors. Criminal bankers and Wall Street schemers to the gallows first!!!!!


6 posted on 11/19/2010 9:54:46 AM PST by Fee
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To: Fee

I’ve seen that many times on here people who defend them and the Fed. and they knock Sarah Palin. The Fed is a huge part of the problem they are enabling all the spending I just saw another article about them bailing out CA.

Outraged Yet? What if Fed Buys Munis? (Will California be bailed out by the Federal Reserve?)

http://www.cnbc.com/id/40256223

Quoting another freeper “ algernonpj “

It’s interesting how many forget that the Fed is right out of Marx’s Manifesto:

“The proletariat will use its political supremacy to wrest, by degree, all capital from the bourgeoisie, to centralize all instruments of production in the hands of the state, i.e., of the proletariat organized as the ruling class; and to increase the total productive forces as rapidly as possible.

Of course, in the beginning, this cannot be effected except by means of despotic inroads on the rights of property, and on the conditions of bourgeois production; by means of measures, therefore, which appear economically insufficient and untenable, but which, in the course of the movement, outstrip themselves, necessitate further inroads upon the old social order, and are unavoidable as a means of entirely revolutionizing the mode of production. ... “

Measure No 5 of 10 to achieve the above in advanced nations =
“5. Centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.”

http://www.marxists.org/archive/marx/works/download/pdf/Manifesto.pdf


7 posted on 11/19/2010 10:06:39 AM PST by FromLori (FromLori)
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To: rarestia

You do know about “Save our Homes”, right? If not, get on it.

For those that don’t, in FL the state can only raise the assessed value on your primary residence by 3% (or CPI, whichever is lower) per year. In theory, this protects people on fixed income (especially) from being priced out of their home because the values go up quickly and they can’t afford the taxes anymore.


8 posted on 11/19/2010 10:09:10 AM PST by Darth Reardon (No offense to drunken sailors)
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To: Darth Reardon

Yeah, I got Homesteaded before I even moved in. That was a no-brainer.


9 posted on 11/19/2010 10:15:53 AM PST by rarestia (It's time to water the Tree of Liberty.)
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To: FromLori
"Routinely, routinely, I'm seeing charges of $1,600, $1,800, $1,000, $800, any of those are ridiculous, and there had better be a good reason for it," Gardner said, noting that these fees should typically be $45 to a couple hundred bucks.

So, what happens to these leeches? Are they brought up before an ethics board or otherwise stigmatized? If not, here's an area for a law to be introduced. Otherwise, they can just keep pulling this crap and if caught, just say, "Oops, my bad!" and repeat the process somewhere else.

10 posted on 11/19/2010 1:04:41 PM PST by Oatka ("A society of sheep must in time beget a government of wolves." –Bertrand de Jouvenel)
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To: Fee

Free enterprise ain’t fraud. Simple as that. It’s not that the banks are engaged in free enterprise. It’s that they are engaged in theft.


11 posted on 11/19/2010 2:28:17 PM PST by BenKenobi (Don’t worry about being effective. Just concentrate on being faithful to the truth.)
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