cogwheel genevieve: November 2012

Tuesday, November 27, 2012

Letter | State AGs Tell Congress if Tax Relief on Debt Forgiveness is ...

Letter | State AGs Tell Congress if Tax Relief on Debt Forgiveness is Not Extended, $25B Robo-Signing Settlement is Doomed

Posted by 4closureFraud on November 26, 2012 ? Leave a Comment?

State AGs Tell Congress if Tax Relief on Debt Forgiveness is Not Extended, $25B Robo-Signing Settlement is Doomed

As signatories to the National Mortgage Settlement, we the undersigned state attorneys general write to urge you to pass legislation extending tax relief for citizens who have mortgage debt canceled or forgiven because of financial hardship or a decline in housing values. Such legislation is currently included in Section 112 of the Family and Business Tax Cut Certainty Act of 2012 (S. 3521), which was recently passed out of the Senate Finance Committee with bipartisan support. We strongly urge Congress to extend this critical tax exclusion, which expires on December 31, 2012, so that distressed homeowners are not stuck with an unexpected tax bill or deterred from participating in this historic settlement.

Full letter below?

Robo-Signing Settlement is Doomed

Karl Rove on Robo-signing, Fraudclosures and a Bank Settlement, ?Justice and the state attorneys general are demanding $20 billion for sloppiness?
Senate Panel Backs Extension of Mortgage Debt Relief Law
Report | Mortgage Debt Relief For Distressed Homeowners Won?t Hurt Big Banks, IMF Says
Fannie Mae Ranks Banks in ?Robo-Signing? Settlement as Top Servicers
Debt Forgiveness | Underwater Homeowners Face a Tax Time Bomb

Filed under bankruptcy, cdo, cds, Corruption, Fannie Mae, foreclosure, Foreclosure Fraud, Foreclosuregate, freddie mac, MERS, mortgage electronic registration system, Mortgage Fraud, securities fraud

Source: http://4closurefraud.org/2012/11/26/letter-state-ags-tell-congress-if-tax-relief-on-debt-forgiveness-is-not-extended-25b-robo-signing-settlement-is-doomed/?utm_source=rss&utm_medium=rss&utm_campaign=letter-state-ags-tell-congress-if-tax-relief-on-debt-forgiveness-is-not-extended-25b-robo-signing-settlement-is-doomed

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Saturday, November 24, 2012

Las Vegas Real Estate Blog: Bank Foreclosures Start Again in Las ...

First, a little background:

Most large banks (Bank of America, Wells Fargo, etc.) are members of MERS, the Mortgage Electronic Registration System. This system allows a third party entity, like Recon Trust, to transfer notes between members of the system without recording the deed of trust into the new note holder?s name. So the name on the deed of trust and the name of the new note holder do not match since MERS was not required to record these documents. This made it difficult, if not impossible, for a homeowner facing foreclosure to actually find out who was foreclosing on them and try to work out an agreement. Many homeowners were foreclosed upon without ever being able to contact the existing note holder.
So in light of these national ?robo signing? scandals, Nevada was among 11 states that enacted legislation to protect homeowners and regulate illegal foreclosure activity. In Nevada, Assembly Bill 284 was passed which required a bank employee to sign an affidavit stating that to the employee?s personal knowledge all previous transfers of the note were correct before the bank could start the foreclosure process.
Since there is no bank employee that could possibly attest to previous transfers of a note, AB284 effectively stopped the Las Vegas bank foreclosure process in Nevada, and foreclosure filings dropped from around 6,000 per month to less than 1,000. (Not all banks were affected by AB284 since they were not members of the MERS system.)

In October of 2012, however, the Nevada Supreme Court ruled that banks using the MERS system would be able to foreclose on properties as long as the note holder and the name on the deed of trust matched prior to the foreclosure sale. ?This ruling will allow the third party entities used by MERS to record a deed of trust in the name of the current note holder and consummate the foreclosure process. Recording the deed of trust gives homeowners the opportunity to contact the note holder and work out a settlement, but doesn't allow them a "free ride" to stay in their homes indefinitely with no payment.

What this means for the Las Vegas real estate market:
The housing inventory has been at an extreme low for the past eight months, with bank owned foreclosures of Las Vegas single family homes accounting for only 10% of the active listings at any given time. Active short sales account for about 20% of the active single family listings and the rest are ?real? sellers. It?s a ?seller?s? market, prices have risen steadily since January, there are multiple offers on most listings within days of coming on the market, and buyers are finding it difficult to make a purchase unless they bid above appraised value. ??

Banks have started the foreclosure process again, and we do expect new inventory to begin?hitting the market after the first of the year, probably in or March or April. However, the banks do still have very stringent hoops to jump through, and there is no huge wave expected all at one time. Still, there should be more?listings on the market, allowing frustrated homebuyers the opportunity to finally get an offer accepted. Hopefully we will get back to a more balanced market that remains steady for the next few years. A balanced market is better for both buyers and sellers and the local economy.

Source: http://las-vegas-real-estate-experts.blogspot.com/2012/11/bank-foreclosures-start-again-in-las.html

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Friday, November 16, 2012

Strong Social Support Seems to Boost Breast Cancer Survival ...

THURSDAY Nov. 15, 2012 -- The quality of a breast cancer patient's personal relationships may be as important as the size of her social networks in predicting survival, researchers report.

The new study included more than 2,200 women who were diagnosed with early-stage, invasive breast cancer between 1997 and 2000. After an average of 11 years follow-up, 215 of the women had died from breast cancer and 410 had died from all causes.

At the start of the study, the women provided information about their personal relationships, which were characterized as socially isolated (small social network), moderately integrated or socially integrated (large social network).

A social network includes spouses or partners, female relatives, friends, religious and social connections, and links to the community through volunteering.

Women who were socially isolated were 34 percent more likely to die from breast cancer or other causes than women who were socially integrated, the Kaiser Permanente researchers found.

The investigators also discovered that levels of support within personal relationships were important risk factors for breast cancer death.

"Women with small networks and high levels of support were not at greater risk than those with large networks, but those with small networks and low levels of support were," study lead author Candyce Kroenke, a research scientist with the Kaiser Permanente Northern California Division of Research, said in a Kaiser news release.

Women with small social networks and low levels of support were 61 percent more likely to die from breast cancer and other causes than those with small social networks and greater levels of support, the study authors pointed out in the news release.

"We also found that when family relationships were less supportive, community and religious ties were critical to survival. This suggests that both the quality of relationships, rather than just the size of the network, matters to survival, and that community relationships matter when relationships with friends and family are less supportive," Kroenke added.

The study was published in the current issue of the journal Breast Cancer Research and Treatment.

While the study found an association between patients' social support networks and survival rates, it did not prove a cause-and-effect relationship.

More information

The American Cancer Society has more about survivorship during and after cancer treatment.

Posted: November 2012

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Source: http://www.drugs.com/news/strong-social-support-seems-boost-breast-cancer-survival-41559.html

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Pelosi to seek another term as House Democratic leader

Nancy Pelosi SC Pelosi to seek another term as House Democratic leader

Nancy Pelosi announced Wednesday that she plans to seek another term as House Democratic leader, though Democrats were unable to win back control of the chamber.

The longtime California Democratic congresswoman, known for her partisan style, acknowledged the party fell short in gaining the 25 additional seats necessary to take the majority but stressed the ?unity? of the party.

?We don?t have the gavel,? she said. ?We have something more important, we have unity.?

She later said: ?I wouldn?t think of walking away.?

Pelosi initially stirred speculation when she declined to say a day earlier what her plans were. But she told a packed caucus meeting Wednesday morning that if Rep. Steve Israel, D-N.Y., continues to lead the Democratic Congressional Campaign Committee, she will be happy to place her hat in for another term as minority leader.

Tuesday, November 6, 2012

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Hey there, I'm Luis, a 22 yr old computer engineering student from New York City. I'm a gamer at heart, although sometimes I'll trade the controller for the pages of a book. Onto this page I dump everything floating around in my mind, from book quotes to some good ol' classic rock, but you'll mostly end up seeing Final Fantasy, because I'm a huge fan ^_^
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