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HB 87, the bill that gives more power to banks

February 16, 2013

To the editor: Do we want a community or do we want a Pottersville? HB 87 is a proposed bill that is in review with the Florida House. The Bill’s aim is to speed up foreclosures in our court system....

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(14)

Incognito123

Mar-12-13 7:10 PM

Further, if the "bank" which is really acting in the capacity of a DEBT COLLECTOR, & an illegal debt collector at that, is forging, & falsifying documents, which are CRIMES to deceive, WHY are they committing these crimes if they have the right to the home?? Obviously, THEY DO NOT have the right to take the home, or they would not be committing these crimes. PLEASE THINK ABOUT THIS STATEMENT. I feel if the entity suing has the right to foreclose, THEY SHOULD, but if they are falsifying, forging, & faking documents THEY DO NOT HAVE THE RIGHT TO TAKE THE HOME!! This is a very complex, difficult, & often times emotional issue, put that aside and PLEASE research what I am saying, don't just take my word for it! I'm not saying this to be contradictory, I WANT people to know & understand what is really happening!

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Incognito123

Mar-12-13 7:00 PM

ONLYTHETRUTH-The banks DO NOT lend out their depositors money, actually, that is illegal. That is a myth, please do your research on this, I'm not saying it makes sense, but that statement is not correct. To anyone really supporting this bill, you need to know the real focus & intent. It is NOT to expedite foreclosures, as with existing laws, foreclosures can happen as quick as 60 days if the homeowner does not contest the foreclosure (most of them) & they are sitting on 1,800 houses in Charlotte & over 10,000 homes in Palm Beach county AFTER WINNING their case MORE than a year ago, YET HAVE NOT TAKEN OWNERSHIP of these properties. This bill is to protect title insurance companies from having to pay out significant money to fight future lawsuits as these title companies made lots of money insuring titles knowing full well of the fraud/forgeries/false documents being used to take the home. This is the truth behind the bill, PLEASE do your homework, this bill is not what is

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lightswitch

Mar-02-13 2:51 AM

LIBOR Rate rigging...SURPRISE!

FRAUD going on over six years ago and still going on with banks pleading for settlements even before they are brought into court.

The United States probably can bring it s debt in line just by putting the Department Of Justices on this to bring them to court and get more than the settlements would ever bring in for fines.

NOT TOO BIG TO FAIL.

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lightswitch

Feb-26-13 11:32 PM

Time to witness the Big Banks USB, Bank Of America, Barclays, Royal Bank Of scotland, Royal Bank Of Canada, and of course J P Morgan Chase and Citibank,USB, Credit Suisse, Seems,they are in cahoots setting the the LIBOR which sets the rates for interest rates on car loan, credit card rates, personal loans and what else...mortgages. All of these banks mentioned have been under investigation and the U.S. is examining them as we post. Seems an e-mail was intercepted at the Royal Bank of Scotland with an official asking for the YEN to be dropped (evidently a large transaction was going through the bank.) The next day the Yen dropped. In a nutshell these banks have been manipulating currencies Euro, Dollar,Yen Pound, Scotch Pound, Swiss Frank, German Mark, etc.

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lightswitch

Feb-20-13 7:48 PM

Today it was announced the CEO (1 person) was paid 16 million dollars for a banner year. This thanks to the money we gave his bank. A 68% increase over last year. He was fortunate enough to receive his compensation just before the tax increase kicked in. Now how about the rest of the management team? Banks tack on charges because they can't turn a fair profit? BALONEY!

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lightswitch

Feb-20-13 5:11 PM

Banks successfully held mortgages with way less than 20% down and required those not putting that much down in after the saving and loan debacle of the 1980's to pay for PMI insurance. Even those mortgages stayed in tact and a large percentage of those went full term and were paid off. Plus after those mortgages reached equity levels of 20% the PMI could be eliminated from the mortgage requirement. If you have not figured out this mortgage bubble situation was calculated years before it occurred you have not read enough about it. President Bush was commenting on it in 2002 almost 6 years before it burst. You had Gingrich working inside Freddie Mac before it burst. AIG, Goldman Sachs, Citi Bank, Bank Of America couldn't see or understand what was going to happen, or what was happening. They all knew before it ever hit the media. Best yet we bailed them out and they are still not lending us our money or paying it ALL back to the treasury. Here in town money has been taken!

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onlythetruth

Feb-18-13 7:51 AM

The housing and banking industries went down the tubes when it was no longer a requirement for potential homeowners to provide at least 20% of the price of the property they wished to purchase as a down payment. Place on top of that the fact that the government required those dastardly banks you speak of to lend to those who clearly couldn't afford such a loan and you saw a recipe for disaster created, which we are all paying for now. Quick question for the author of the LTE, If you were to lend someone $100,000 and they did not pay you back, would you lend them more?, or reduce what they owed you? I have the feeling you wouldn't do either. Strangley enough, this is what you are advocating the lending institutions to do. Remember, the banks lend out the DEPOSITORS money, so it is their responsibility to pursue payment on behalf of the depositors.

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lightswitch

Feb-17-13 5:40 PM

Certain smile you seem as though you are trying to lay blame on some generation that you are not part of? Seems to me it may not be you yourself but you have plenty of individuals in your generation of which you speak. Ir is not the young, the middle aged or the elders who are what you mention but many in every phase of life. There are in fact many of the younger generations who have an excellent work ethic, pay their bills, and are people of their word. What we have not done is demand good things from those of whom you speak, We have let them slide so to speak and not reprimanded them. They range in age from 6 to 106. We have them in private,public and private sector. But wait the pendulum is swinging once again. Slowly but swinging.

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lightswitch

Feb-17-13 5:09 PM

Forgery, fraud, money laundering, bribery, wire fraud. Only organizations stated as too big to fail can be proven in courts to be guilty, pay multimillion dollar fines and state they did nothing knowingly wrong. Then carry out business as usual?

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johngalt

Feb-17-13 12:59 PM

Should our mortgages be “modified”? Simple answer yes. Have your assets been modified? Is your real estate worth less? Your retirement, your savings, your business or job perhaps? Why does contract law only apply for the little guy? The TBTFs have rec’d loads of cash from the Fed to offset their bad loans (assets). They have been recipients of “the mother of all loan modifications”. Drop a zero from our mortgages to match the zero dropped from our bank accounts.

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Packer

Feb-17-13 10:37 AM

In some ways I do hope it goes through. Then the people can sue them even more. I would think that the 43 trillion dollar lawsuit (Abeel v Bank of America) that names presidential cabinet members would be enough for govt to take a good look at there dirty practices. They violated the patriot act hiding money and now over 1000 financial institutions get to answer to it. Dirty government encouraged mortgages that should have never been written. Now maybe they can cough up a few answers.

This will be as successful as the Calvary of judges sent in a couple of years ago (eyes rolling) to expedite the foreclosure process so that the mafia housings auctions could happen.

Now we can create a socialist justice system at the State level so we can have more lawsuits and tie our tax dollars up in legal fees. Then Rick Scott can continue to blame poor people and school teachers for all of our woes.

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Jaketherattlesnake

Feb-17-13 9:56 AM

I do not have any confidence in our state government.

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johngalt

Feb-17-13 9:20 AM

The populace reflects our corrupt government. The top banks (TBTF) have all socialized their losses through, TARP, TWIST, etc. and with captured or strategically placed insiders. They continue to skim billions out of the system for themselves and produce no real economic activity. ZIRP has ruined the value of savings and the banks now see their traditional role (loaning money) as too risky. Citigroup is suing the ratings agencies claiming that they were defrauded! They paid the agency to rate garbage CDO’s that they themselves created. JPM Chase skims fees from the EBT cards and debit cards for unemployment payments they issue. “Everybody is equal under the law, except those that are above it”.

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certainsmile

Feb-16-13 1:37 PM

Honor your obligation and pay your mortgage on time. If you are UNABLE to make the payments then leave the house in good condition and move out immediately. Let the bank quickly resell the property. Neighbors' property values will not sink due to a decaying property. Staying in the home and not paying is morally wrong. No one is entitled to reduced principal and more favorable terms. The previous generation took pride in paying their bills and doing the responsible thing. I know that times are hard so we must all work harder and demonstrate personal responsibility, don't expect the government to take care of you and support you. Churches and families should provide a hand up but today's handouts are excessive and eroding the work ethic of the past.

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