www.ourfuture.org<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"Federal Reserve Chairman Ben Bernanke said on Monday that his agency will investigate irregularities in foreclosure practices. Evidence is mounting that bank procedures, whether intentional or accidental, have resulted in massive foreclosure fraud. After an internal review, Bank of America yesterday reported that it found 102,000 cases where foreclosures were improperly approved. These represent only […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-16658","post","type-post","status-publish","format-standard","hentry","category-daily-program"],"_links":{"self":[{"href":"https:\/\/uprisingradio.org\/home\/wp-json\/wp\/v2\/posts\/16658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uprisingradio.org\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uprisingradio.org\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uprisingradio.org\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/uprisingradio.org\/home\/wp-json\/wp\/v2\/comments?post=16658"}],"version-history":[{"count":0,"href":"https:\/\/uprisingradio.org\/home\/wp-json\/wp\/v2\/posts\/16658\/revisions"}],"wp:attachment":[{"href":"https:\/\/uprisingradio.org\/home\/wp-json\/wp\/v2\/media?parent=16658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uprisingradio.org\/home\/wp-json\/wp\/v2\/categories?post=16658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uprisingradio.org\/home\/wp-json\/wp\/v2\/tags?post=16658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"foreclosure](\"http:\/\/4closurefraud.files.wordpress.com\/2010\/07\/boa-screwed-me.jpg?w=640&h=357\")
Federal Reserve Chairman Ben Bernanke said on Monday that his agency will investigate irregularities in foreclosure practices. Evidence is mounting that bank procedures, whether intentional or accidental, have resulted in massive foreclosure fraud. After an internal review, Bank of America yesterday reported that it found 102,000 cases where foreclosures were improperly approved. These represent only a small fraction of the cases it will inspect. Reuters reports that the bank, which received billions in bailout funds, proceeded with foreclosures without properly signing paperwork or possessing necessary documentation, such as accurate homeowner payment histories. Industry-wide there have been reports of bank officials rubber-stamping thousands of foreclosures without reviewing the paperwork. An argument that is also being advanced is that many of the home loans that were aggressively marketed to inexperienced borrowers and approved based on inflated estimates of a home’s worth were fraudulent from their conception. By launching its own review, the Fed joins a number of other departments conducting investigations into foreclosure fraud, including the Department of Housing And Urban Development, and the Treasury and Justice Departments. In a rare show of non-partisan, national unity, the Attorneys General of all 50 states, Republicans and Democrats, are cooperatively investigating foreclosure practices that may have resulted in millions of Americans being kick-out of their homes by banks without the legal authority to evict.<\/p>\n