Report: "Banks Treat Foreclosed Homes Better In Mostly White Neighborhoods"

New Report Alleges Discrimination And Racism

A newly released report by the the National Fair Housing Alliance indicates foreclosed homes in white neighborhoods, were treated better than those in minority areas. This means, after evicting occupants, homes in white neighborhoods received better maintenance by banks, than properties in predominantly black and Hispanic areas.

These prejudices are prevalent in the banking system. For example, the now defunct Washington Mutual Bank, was forced to pay a large settlement for targeting blacks and Hispanics for high risks loans. In another legal action against the kaput bank, it was discovered they targeted non-English speaking customers and those with black or Hispanic sounding names, to saddle with extra mortgage fees, for services they did not need. Regrettably, racism is alive and well in the corporate sector.

STORY SOURCE

Report: Banks Treat Foreclosed Homes Better In Mostly White Neighborhoods

By Chris Morran on April 4, 2012 2:15 PM - While Americans of every possible ethnic and racial group were hit by the massive foreclosures when the economy went KABOOM! a few years back, a new report claims that banks are often giving short shrift to the upkeep and marketing of foreclosed properties in areas with predominantly non-white residents.

Earlier today, the National Fair Housing Alliance released the result of its undercover investigation into how bank-owned properties are treated in nine major metro areas — Atlanta, Baltimore, Dallas, Dayton, Miami/Fort Lauderdale, Oakland, Philadelphia, Phoenix, and Washington, DC.

http://consumerist.com

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If Banks Don't Start Working With Foreclosed Homeowners Their Profits Are Going To Plunge

President Barack Obama

The U.S. banking sector has seen terrible declines over the past few years, due to the mortgage crisis and overall financial decline of the country, under presidents George W. Bush, then Barack Obama. The government, at the taxpayers expense, has given major U.S. banks billions of dollars from the Treasury, to keep them afloat. However, despite these funds coming courtesy of the taxpayers, a number of banks are still making it as difficult as possible for homeowners to obtain mortgage modifications to remain in their properties.

Standard tricks being used on homeowners run the gamut. They range from pretending they did not receive documents that were faxed or mailed to the bank(s), despite established couriers such as the U.S. Postal Service, Fedex and UPS, providing mailing confirmation, to not notifying property owners of the options available to save their homes.

If banks keep playing with homeowners, opting for the quick buck in trying to rush people out of their homes to auction off properties in a market so overcrowded and poor nothing is selling, they will see massive revenue declines again. Kicking distressed homeowners to the curb is not the way to financial profitability, but long term losses (as in loss of mortgage interest payments over time had they straightened out said loans).

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Bobby Brown Got Nothing Under Prenuptial Agreement With Whitney Houston

Prenup Protected Houston's Wealth

Whitney Houston

Radar Online is reporting singer Bobby Brown received nothing in his divorce settlement from the late chanteuse Whitney Houston. They had a prenuptial agreement that stipulated the couple keep their assets and earnings separate. Nonetheless, Houston generously provided from Brown during their tumultuous, drug and alcohol fueled marriage of 14-years.

Whitney Houston and Bobby Brown in the 1990s

As mentioned previously on the Judiciary Report, in the 1990s Houston paid to to save Brown's $2,000,000 Atlanta mansion from foreclosure. She also paid for his cars, clothes, travel and overall upkeep, when his money ran out, due to excessive spending and decreased income. Brown gave the public the impression he left the marriage broke, with only his clothes, as it was revealed he began crashing on the couch of tell-all groupie Karin Steffans.

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Reports State Obama Administration $25 Billion Mortgage Deal To Increase Home Seizures

Barack Obama

Economists indicate the $25 billion dollar mortgage deal the Obama Administration struck with the nation's major banks, will accelerate and increase the number of home seizures in America, due to foreclosure. Never in the nation's history has America had so many foreclosures. The crisis is unprecedented. With millions of homes repossessed and auction at courthouse across the nation, home property values in America have plummeted 40-80%, varying state by state.

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Financial Experts State The U.S. Economy Is Permanently Damaged

Sustained Economic Deterioration Caused Lasting Damage

Barack Obama

U.S. President Obama has been unable to fix the U.S. economy, which is burdened with stubbornly high unemployment, millions of foreclosures, significantly decreased property values and many shuttered businesses. This month, international experts are now of the belief the U.S. economy will not recover to what it once was, as the damage is so widespread and has persisted for four years, creating a last effect. Experts from Canada (Bank of Canada Governor Mark Carney) and Europe have gone on record voicing these opinions this month.

The Judiciary Report stated the same previously: Ben Bernake Didn't See The Financial Crisis Coming and Wall Street Protesters March Outside The Home Of Greedy CEOs.

The irony is the problems could have been corrected, but Obama’s wasteful spending aided banks and corporate titans, who have hoarded and hidden taxpayer bailout money, rendering it useless to the U.S. economy. However, it has stimulated the off shore banking sectors of foreign economies using the funds to make more money.

President Obama is in bed with Wall Street and the corporate sector, in a manner that has given them free reign to do as they please, which is what caused the crisis in the first place under former President Bush. Rather than taking to task offenders in the corporate sector, President Obama has enriched them with hundreds of billions of dollars in taxpayer money and no ground rules regarding gouging and theft, allowing them to get away with murder against the populace.

It has caused the failure of his presidency and if polls are any indication, he shall not have a second term to correct his damaged legacy in the history books, something his family will have to live with. It is extraordinary what Obama has looked the other way to and the terrible damage it has caused America and the world.

The corporate sector does have the ability to lavish massive campaign donations on Obama, to pay for many commercials and internet ads. However, there aren’t enough people in the corporate sector to get him reelected, under the anger and disappointment of an abused and offended nation of 305,000,000 people, who have lost so much during his tenure.

President Obama's deeds have shown he is not for the working class and the poor, but his filthy rich campaign donors. Under Obama the rich have gotten richer and the poor have gotten poorer. This must stop if America is to have a bright future.

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President Barack Obama’s State Of The Union Address Was More Of The Same

Time Is Running Out

The First Family

President Barack Obama’s state of the union speech last night was sadly more of the same unfulfilled promises, rehashed in a live format. This is a make or break year for President Obama and he is promising the nation the world, but has not delivered for the past 3-years. The economy is in a bad way and Obama has shot down many projects that would create jobs and revenue.

President Obama's Attorney General Eric Holder Connected To Banks Responsible For The Mortgage Crisis

Attorney General Eric Holder and President Barack Obama

President Obama's Attorney General, Eric Holder, who is the head of the Justice Department, is in the midst of another scandal (as if "Fast and Furious" wasn't enough of a disgrace). Reuters has done an expose on Holder, stating he has deep ties to banks engaging in mortgage fraud against Americans, which led to the ongoing crisis that began in 2008.

Holder, a longtime employee of the Justice Department and his co-worker Lanny Breuer, "Were partners in a law firm that worked on behalf of those very same firms" that are responsible for "the housing bubble collapse." Holder and Breuer worked for the law firm of Covington & Burling.

STORY SOURCE

Holder, Breuer connected to players in foreclosure fraud?

Posted at 10:25 am on January 20, 2012 - For years, the Left has asked why the Obama administration hasn’t pursued prosecutions against lenders who arguably engaged in fraud when foreclosing on mortgages in the wake of the housing-bubble collapse. It turns out that these lenders had friends in high places in the Department of Justice. Reuters reports that both Attorney General Eric Holder and his lieutenant Lanny Breuer, who ran the DoJ’s criminal division, were partners in a law firm that worked on behalf of those very same firms (via JWF’s Just A Grunt):

U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department’s criminal division, were partners for years at a Washington law firm that represented a Who’s Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters inquiry shows. The firm, Covington & Burling, is one of Washington’s biggest white shoe law firms. Law professors and other federal ethics experts said that federal conflict of interest rules required Holder and Breuer to recuse themselves from any Justice Department decisions relating to law firm clients they personally had done work for...

http://hotair.com

There Are 1,600,000 Homeless Children In America

President Barack Obama

A new report by the National Center on Family Homelessness has revealed, 1,600,000 American kids are homeless and living on the streets. This marks a 33% increase over the past 3-years, during which the financial crisis hit America and wreaked havoc on many people's finances. The foreclosure crisis has certainly contributed to these figures as well.

These numbers are infuriating, as the government has wasted billions of dollars on wasteful projects that added nothing to the economy, while children in America go hungry and homeless. This needs to be corrected. In a country with as many resources as America, no child should be homeless or hungry.