How a Couple of Citizen Investigators Brought Foreclosure Fiasco to Nations Attention

PALM BEACH, Fla. — More than a year before lenders, law firms and document companies began owning up to widespread paperwork problems with their foreclosure filings, Lisa Epstein and Michael Redman already knew that something was wrong — very wrong.

Redman, a former online automobile consultant, got his first taste of the problem in early 2008, when he tried to help a relative who was facing foreclosure.

As he tried to determine which of three or four supposed lenders held the note, Redman, 35, realized that not only did he not know the answer, neither did any of the companies that were asking for payment.

Epstein, a nurse who cares for cancer patients, also is going through foreclosure. She got her baptism in the world of shoddy foreclosure paperwork in the summer of 2009, however, when she tried to help a brain tumor patient keep her home.

Epstein helped draft a letter challenging the foreclosure because, as in Redman's case, it was unclear from court papers who owned the home's mortgage.

After arriving at the summary judgment hearing in her nurse's uniform, an emotional Epstein, 45, watched as the ill woman read their letter aloud in court. When the opposing attorneys never showed, the judge refused to finalize the foreclosure. The woman remains in her home as the legal wrangling continues.

For Epstein, who often helped her patients navigate disputes with their health insurance companies, the role of advocate wasn't new — but the thrill of a courtroom victory was.

"It was like something struck inside me, like this is what I'm compelled to do.

Read more from McClatchy


See Rikyrah's Previous Post on Foreclosures

Is the U.S. Headed For a Greek Style Economic Collapse?

Financial Historian Niall Ferguson thinks the U.S. could be headed for a big fall- IF it stays on its current course of spending much more than it collects in revenue. Hear discussion from OnPointRadio. (A Must Listen). He points out what I have been saying here since I started... this business as usual nonsense is unsustainable. Business as usual meaning spending billions (now well over a Trillion) on wars that we don't need, being afraid to talk about a sensible tax policy...because Republicans have turned just the mention of taxes into a "taboo", not working fast enough to build and feed a Green industry- continuing to assume that it will magically blossom on its own, not working hard enough to build small/medium businesses and to create jobs, and not investing in educating future generations (why do I have to go $80,000.00 in debt before I even have a chance to live...just because I want an education? True story....my story). Other countries educate their people at very low cost or for free in some cases. They put a priority on people, rather than huge military industrial complex's or phony corrupt stock markets.

I am not as downbeat as some of the voices of gloom and doom. I don't think that the U.S. is headed for a quick collapse - at least not yet. In my mind, I am keeping my fingers crossed that it doesn't happen. The U.S. came close to this in the Fall of 2008. A collapse of the big banks was narrowly avoided. I am skeptical for the future though. The Obama administration can barely get a financial reform bill approved in the House & Senate - in fact, there are currently not enough votes to get the bill through the Senate. Republicans are blocking any efforts to make Progress on reforming an out of date system. With the prospect of clueless American voters returning these same Republicans to power in November of this year and again in 2012, there is no reason to be hopeful. Republicans are talking from both sides of their mouths. On one hand, Republicans say they are concerned about the debt, the deficit, and want to control spending, yet they blocked the Presidents Debt Commission - a commission tasked with steering the Country clear of complete economic collapse. I realize that this is part of the Republican Party's efforts to weaken Obama's ability to govern, so that he fails. But shouldn't they be more concerned about the Country???? Just a little concerned?

I believe the U.S. may be headed for several months, if not years, of stagnant growth and high unemployment which will only make the debt problems worse. With the lack of revenue from business growth and job creation, the U.S. will have to borrow more to maintain basic services. Cuts...and I mean massive cuts, will be necessary if the U.S. is to avoid a Greek-like crisis. But I just don't see that happening. Politicians from both parties are more concerned with their political careers. David Walker, former comptroller general of the United States, warns that by 2035, the U.S. will only be able to afford to pay the interest on the debt and nothing else. Unreal! Why isn't this issue on the front burner?

Why do I believe (am hopeful anyway....keeping fingers crossed) that the U.S. isn't in immediate danger of a complete meltdown?:

1. For now...the U.S. maintains the advantage of being the biggest economy in the World...and the biggest consumer. This means that other nations (who are now the producers) will be cooperative, for the most part, on trade, monetary policy, and will want to make sure that their chief consumer remains stable....so their economies can stay afloat.

2. The U.S. currency is still....for now... the main reserve currency for the globe..... for now.

3. The U.S. isn't as leveraged (debt as % of GDP) as many other nations in Europe.

So there is hope... but there has to be some action. Right now... no real action is on the horizon. That's what bothers me. The U.S. is stuck on stupid...stuck in some sort of perpetual malaise, thanks to the Republican Party and a stupid electorate that keeps supporting these jackasses.

Why Obama Should Have Worked Harder On Economy

Forcing healthcare through Congress at a time when the issue was not a top priority for most Americans will likely cost the Democrats come November....as I have already mentioned. Obama & Co. should have at least been much more aggressive on plans for job growth while pushing for healthcare reform.... this would have helped in making them look less out of touch. His team of advisers are definitely not the most competent.

Now they want to tackle immigration... thinking (mistakenly) that the healthcare victory has somehow given them momentum for dealing with an issue even more contentious. Obama will end up wasting what little political capital he has left on Immigration Reform. Clueless doesn't seem adequate for describing Emanuel, Axelrod, Plouffe and all the rest.

There is still a little bit of time between now and November. Alot can change in that time. It looks like the economy may finally be creating jobs again.... after losing millions over the last two years. But it will take a long time to change the public's perception... especially when there are TV networks and radio stations dedicated to telling Americans that Barack Obama and the Democrats are devils, socialists, and that they are to blame for the economic collapse. (Americans are incredibly gullible and unfortunately they listen to the nonsense from Faux News and the rest).

Many Could Face Years of Unemployment

A New York Times article calls them "The New Poor".

See Related Post

Great Recession is Actually a Depression for Many When It Comes To Unemployment

Hear an informative discussion from NPR on the impact of the latest recession. Economists Andrew Sum & Barry Bluestone have broken down the unemployment numbers group by group and have been able to show huge disparities in terms of who is being impacted the most. The mainstream corporate media has been almost AWOL on this. Listen Here. See the findings of a new study from the Center for Labor Market Studies at Northeastern University.

I have been writing all along about the weakness of the stimulus efforts since last year when the legislation was passed. I thought that employment would be lacking because there was not enough focus on the creation of lasting, sustainable jobs, particularly in new industries. There was an opportunity to do something big & impressive by creating a public works program and/or grant programs for start-ups in new technologies. There was also a need for aggressive loan programs for small & medium sized businesses.

Even if you have employment, survival is becoming more precarious.

Bonus:

Also hear a discussion about the gridlock and paralysis in the U.S. Congress.

Dr West Speech from Chicago

Dr. West gave his annual (February) speech over the weekend from Chicago's St. Sabina Catholic Church. Of course I didn't agree with everything he had to say. But I generally agreed with his comments about Obama's economic team and their policies so far. Nothing really new here.... but he gave a decent speech as usual...although this was not as good as his three previous speeches. I did like his comments about the plight of Black communities being tied to the wider plight of the U.S. and his comments about the culture becoming even more shallow. He also called a few people out... which caught me a little off guard.

You can watch here, or listen.

BTW.... should there be a "Black Agenda"? And if so.... what exactly should that agenda be? If you watch the speech you will know what I am referring to.

I don't think there should necessarily be a "Black Agenda" per se. There is not much in terms of policy (nothing significant at least) that the government would be able to do just for Blacks or just in minority communities. The policy would have to be applied to classes of Americans (regardless of race) and would have to work for people across the board within those class groups...including for Blacks. That's the only realistic way to get things done from a policy perspective. I think we have to start moving away from race or raced based politics and move towards class based politics.

Blacks should turn to their local officials and members of Congress and ask why their communities are failing and to seek State/Federal relief. But as I have been saying for years, the CBC doesn't work in the best interests of its constituents. The CBC should be disbanded IMO.

Too many Blacks are (wrongly) holding on to this outdated myopic 1960's, 1970's, 1980's view of the relationship between race and politics.