New York Foreclosure Law Firm Takes Easy Way Out
A foreclosure law firm in New York State has agreed to a $2 Million settlement after they were accused of using questionable (at best) practices in its proceedings during foreclosures. The Steven J. Baum law firm was the target of lawsuits and investigations by various attorneys general as well as U.S. attorney Preet Bharara of Manhattan, who was looking into allegations that the firm filed misleading pleadings, affidavits and mortgage assignments in courts.
The law firm attracted its share of attention when dealing with foreclosures, including reports that it was overcharging, filing false documents and representing parties on both sides of a mortgage transfer.
Although the firm admitted that they ““occasionally made inadvertent errors in its legal filings in state and federal court, which it attributes to human error in light of the high volume of mortgage defaults and foreclosures,” it’s pretty easy to read between the lines with this story is concerned. It’s sickening to think that incompetence, whether intentional or unintentional caused significant pain and suffering for people who lost their homes to foreclosure, particularly if shoddy practices caused some homeowners to be unjustly evicted from their homes.
Adding fuel to the fire was New York State Supreme Court Justice Arthur M. Schack who said that the Baum firm’s explanations in one case were “so incredible, outrageous, ludicrous and disingenuous that they should have been authored by the late Rod Serling.” Clearly the Justice is a man who knows his classic TV!
I think what Schack said sums things up nicely and helps bring the truth to light regarding this whole foreclosure mess that has caused so much pain and suffering for people who have lost their homes.
As I read various news stories on the net about the foreclosure crisis, I really do get a kick out of people who are quick to blame the likes of politicians such as Barney Frank of Massachusetts and Christopher Dodd of Connecticut who supposedly used new legislation to strong-arm banks and lending institutions into approving mortgages for people who could not afford them.
Before you let your thoughts wander too far in the wrong direction, realize that I am about as far from being a fan of politicians as you could imagine and I have not a single good word to say about Frank or Dodd. In fact, the both of them make me sick, much like the rest of those parasites down in Washington, D.C.
Here’s what I’m really getting at. Can you really believe that the Washington politicians bullied some of the biggest and wealthiest banks in the country into doing something they did not want to do? How do you suppose the politicians line their pockets with all the money they get for their campaigns? Anyone who believes the politicians are solely to blame for the foreclosure crisis is smoking something pretty good.
See for yourself. Among Frank’s top campaign contributors are The American Bankers Association, JP Morgan Chase, Bank of America and State Street Corp.
Moving on to the esteemed Senator Chris Dodd, we see that his top contributors include Citigroup, Royal Bank of Scotland and JP Morgan Chase.
Anyone who believes the big banks were bullied by these guys needs to extract their head from you-know-where.
It’s all a game and it’s about time we all woke up to what’s really going on. The whole Washington scene is just one enormous distraction designed to pit one imaginary group against the other, and the number of everyday citizens that play along with this nonsense is astounding. It’s all a big distraction constructed to make us think we need to take sides while the real control is handled behind the scenes where the big money is and the people out in fly-over country take it in the rear as usual.
Pull yourself away from Fox News or MSNBC because they’re in on the game as well. The Washington establishment, their controllers and the state-run media have been making fools of the people for far too long and it’s about time it stopped. Shake yourself out of your television-induced stupor and wake up to what’s really going on!
Getting back to the Baum law firm in New York just to tie up that loose end, I’d say they got off easy by paying their $2 Million settlement. You can be sure they are not fools – not by a long shot. They probably feared that they would have suffered a much more significant setback if the case wound up in court. Whether or not they clean up their act as they claim they will is something that remains to be seen.