FBI Admits They Inflated Their Mortgage Crisis Crackdown Rates

 

Outgoing FBI Director Robert S. Mueller busted in another lie the agency was forced to own up to in the press 

The FBI admits they have inflated their mortgage crisis crackdown rates regarding clamping down on problems in the system. This is another blow to their credibility. Millions of Americans have lost their homes with many still in danger of foreclosure and involuntary property auction.

Give credit where credit is due, I know people who've been helped by the Obama Administration mortgage modification programs and have been able to stay in their homes, paying a fraction of what they were previously remitting in payments, with the extra debt added to the tail end of their extended mortgage. There are also property tax assistance initiatives by the administration designed to assist people who are delinquent on property taxes, which could also trigger a foreclosure after a 2-3 years of non-payment.

The main problem with the system right now is what some banks put people through who attempt to obtain a mortgage modification. People are often told the documents they submitted to the banks by mail were not received (but mark my words, had you sent them a check in the mail, they would have received and cashed it pronto).

I know one woman who was told that several times, even though she used U.S. Postal Service and Fedex in other instances, who all confirmed in writing the items were received. We know it's not the mail carriers as many people are telling this same story.

The government needs to start applying pressure on banks that engage in this practice. Because if the government set up a consumer complaint website and asked people to submit mailing receipts regarding mortgage modification packages banks state they did not receive, there would be a flood of evidence to the contrary.

STORY SOURCE

 Obama DOJ & FBI Lied on Mortgage Fraud Crackdown Before Election

Mary J. Blige's Money Problems Worsen As Eviction Notice Placed On Her Door

Mary J. Blige

Cash strapped R&B singer, Mary J. Blige, has been hit with two lawsuits from banks regarding $2,500,000 in loans she defaulted on. She has been slapped with a tax lien of $900,000. Her charity is also under investigation for theft of donated funds. The most recent development in her financial problems comes courtesy of an eviction from the luxury New York apartment building, the Ashely, where units rent for $10,000 and higher per month. It is being reported she has not paid her rent in one year.

Mary J. Blige's house in New Jersey 

Blige also purchased a $13,000,000 Saddle River, New Jersey mansion 5-years ago that she is trying to unload. Blige placed the Saddle river mansion on the market 2-years ago adding too much to the asking price, resulting it the house  languishing with no buyers, as property taxes of tens of thousands of dollars per year accrue.

The Ashley

At the current rate, it is only a matter of time before Blige defaults on the mortgage of the Saddle River house and loses it at auction, where all of her creditors liens and financial judgments will be satisfied. In fact, her creditors can force a foreclosure under the law. As stated in the column two days ago, Blige should sell the property, which will free up her cash flow, minimize the damage to her credit report and satisfy her other outstanding debts, before it is too late. It is time to downsize and there is no shame in that.