Wall Street Journal- Foreclosures Fall When Banks Forced to Tell The Truth – (IMAGINE THAT!)

From: Charles Cox [mailto:charles@bayliving.com]
Sent: Tuesday, November 08, 2011 7:11 AM
To: Charles Cox
Subject: Wall Street Journal- Foreclosures Fall When Banks Forced to Tell The Truth – (IMAGINE THAT!)

Wall Street Journal- Foreclosures Fall When Banks Forced to Tell The Truth

November 8th, 2011 | Author: Matthew D. Weidner, Esq.

Florida passed a rule that required banks to verify the accuracy and truthiness of the claims they were making in foreclosure cases. The banksters and fraudclosure mills largely ignored the rule, and continue to play games with it even today. But even if anyone had bothered to force compliance with the rule (GASP!) I’m not aware of a single case of any punishment for lying in pleadings filed with the court.

What might happen if someone tried to enforce truthiness in the midst of Florida Fraudclosure? Well, we should look to Nevada and see that foreclosures ground to a halt when that state started (GASP!) requiring the banks to tell the truth.

Now here in FLORIDA, THE MOST CORRUPT STATE IN THE NATION, we could never stand for such a bold initiative…..in fact, Florida is heading in exactly the opposite direction with Florida’s (un)Fair Foreclosure Act….well, the legislators and “leadership” can wallow in their beds made of lies and fraud….the reality is the whole market is a stinking mess, like driving a school bus full of children over a rickety bridge made of sticks. In the end, it’s all coming crashing down. Go ahead foreclosure mills, get all the foreclosure judgments you want….then you just try to sell all those stinking foreclosed properties…..I DARE YOU!…..

But back to the story….just what happens when the banksters are forced to tell the truth??????

Foreclosure filings in Nevada plunged in October during the first month of a new state law stiffening foreclosure-processing requirements.

Slightly more than 600 default notices were filed against homeowners through Oct. 25 in the state’s two most-populous counties, Las Vegas’s Clark County and Reno’s Washoe County. That was down from 5,360 in September, or an 88% drop, according to data tracked by ForeclosureRadar.com, a real-estate website that tracks such filings. Default notices represent the first step in processing foreclosures.

WALL STREET JOURNAL

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