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The social consequences of the perfect storm!

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Republish this episode on October 18 last year dedicated to the devastating problem of foreclosure and the tricks of the banks to take possession of the houses even when they are fully entitled, tricks that were discovered in September of that year and led to a temporary suspension of the procedures and greater caution in dealing with individual cases.

In the two and a half years in which I published daily diary of the episodes of financial crises, I was reprimanded several times to deal mainly in the United States of America, paying less attention to Europe and In particular, Italy, charge only in part, because I've dedicated to our country and to the Old Continent no less than a hundred episodes, but the problem is the fact that the perfect storm originates from the USA and the evolution of things in this great nation that we may one day say it is finished or not!

But what is wonderful in that nation is a great deal of statistical accuracy with which the press looks for the causes of the phenomena that are to public attention, driven by competitive reasons, their policy and, at least in some cases, both of these reasons.

The service opens with a picture of an independent house and far from luxury to Mrs. Nicolle Bradbury cost $ 75,000 fully financed by GMAC, which also provided the sum required for the restructuring and, within the renegotiation and relative increase in the loan installment, more money, rate that Ms. Bradbury has stopped paying for two years, having lost her job, having been seriously ill, her husband and two school-age children (16 and 14 years).

It was a case won for GMAC, because I speak of because the place where Mrs. Bradbury lives in one state, Maine, in which, as in 22 other states, to initiate the expropriation is necessary to go to trial, but the GMAC was in a hurry and gave the practice to an official who, without many checks it turns out, as he himself has witnessed 400 per day , becoming the first robo-signer to have admitted the existence of these procedures do not precisely accurate.

Bradbury Lady luck was to address a non-profit association, which awarded a pro bono lawyer, Thomas A. Cox, who has worked for years for a bank dealing with their local procedures for foreclosure and expropriation, and that he soon discovered the omission of certain passages in procedures themselves, and who managed to make her admit in court to the employee of GMAC, which was also ordered to pay him $ 27,000 as a fee, and is based on the developments of this case that the biggest U.S. banks have been forced to block some foreclosures throughout the U.S., in 23 other states where you must go to trial, while hanging the possibility that the resulting ordered a moratorium on the law and a federal investigation is underway on the subject of expropriation!