We Say Sue The Bailout-Sucking, Bonus-Paying Bastards! Foreclosure Fraudster GMAC Got $18 Billion In TARP Funds It Has Yet To Pay Back!

Lawyer up!

Below we have an update from the Washington Post on yesterday's story.  Fannie & Freddie are now involved (click to find out if they own your mortgage). 

If you've lost your house to foreclosure, it's time to call a lawyer.  You might have a case against your mortgage provider.  This is the dirty little secret of the foreclosure industry -- lost paperwork often means forged documents. 

GMAC received $18 billion of TARP funds and Elizabeth Warren says we could lose more than $6 billion.

• Elizabeth Warren & Henry Blodget On The $18 Billion Bailout Train Wreck At GMAC -- Tim Geithner Screwed Taxpayers Once Again

I say sue the bailout-sucking, bonus-paying bastards.

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Video:  Elizabeth Warren on the GMAC bailout

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GMAC Foreclosure Fraud Scandal Grows: Now Involves Hundreds Of Other Banks

Some of the nation's largest mortgage companies used a single document processor who said he signed off on foreclosures without having read the paperwork - an admission that may open the door for homeowners across the country to challenge foreclosure proceedings.

The legal predicament compelled Ally Financial, the nation's fourth-largest home lender, to halt evictions of homeowners in 23 states this week. Now Ally officials say hundreds of other companies, including mortgage giants Fannie Mae and Freddie Mac, may also be affected because they use Ally to service their loans.

As head of Ally's foreclosure document processing team, 41-year-old Jeffrey Stephan was required to review cases to make sure the proceedings were legally justified and the information was accurate. He was also required to sign the documents in the presence of a notary.

In a sworn deposition, he testified that he did neither.

The reason may be the sheer volume of the documents he had to hand-sign: 10,000 a month. Stephan had been at that job for five years.

• Continue reading at the Washington Post

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Editor's note:

Click here for the most important video we've ever published at the Daily Bail.  If you agree, post it all over the internet.  Email it to everyone you've ever met.  Use your imagination.  Thank you!

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Further reading:

• Elizabeth Warren & Henry Blodget On The $18 Billion Bailout Train Wreck At GMAC -- Tim Geithner Screwed Taxpayers Once Again

• Foreclosure Fraud At GMAC -- Has anyone seen the paperwork?

• Does Fannie Mae Or Freddie Mac Own YOUR Mortgage? Find Out Right Here!

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GMAC threatens to blow the lid hood off the foreclosure industry.

Comments

[DailyBail]

Foreclosure errors could snag other lenders

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/21/AR2010092106183.html

[DailyBail]

The troubled auto and mortgage lender will collect $3.8 billion of additional aid on top of the nearly $13.5 billion already received since December 2008, the Treasury said in a statement Wednesday.

http://money.cnn.com/2009/12/30/news/companies/gmac_bailout/index.htm

[DailyBail]

Christine O'Donnell: 'I'm Not Going To Do Any More National Media' (VIDEO)

http://www.huffingtonpost.com/2010/09/22/christine-odonnell-im-not_n_735408.html

[Z]

Katie Couric won't be able to find out if she reads any Wiccan magazines or what she thinks about the Obama Doctrine. WTF, Obama doesn’t do doctrine?

http://en.wikipedia.org/wiki/Obama_Doctrine “The Obama Doctrine is a term frequently used to describe one or several unifying principles of the foreign policy of Barack Obama. The Obama Doctrine has never been officially declared, and Obama himself has expressed a dislike for an excessively "doctrinaire" foreign policy.”

My God, does Obama have any principles? Oh yeah, the ones Alinsky gave him.

[S. Gompers]

That is the same principles Alinsky gave you as well Gobie, as to your post last night about me considering flexing my abstract thinking muscles, or the power of multiple meanings and a deeper understanding that goes beyond the facts and into the realm of ideas, intuition and maybe even some healthy speculation, tell us more about WICCA.

Have you ever played suck face with a toad?

[Z]

What the heck are you talking about Gomp? Now I support Alinsky and the Wiccan religion? What is wrong with you?

[S. Gompers]

"I am just another student of Saul Alinsky (you say emotional bs, I say rules for radicals or the new rules for republicans) -- you should take a look at the rules."

Gobias Bluth, aka Z

"flexing my abstract thinking muscles, or the power of multiple meanings and a deeper understanding that goes beyond the facts and into the realm of ideas, intuition and maybe even some healthy speculation,"

WICCA Z

How many times have you used the rules Gobie, I have been counting.

[Z]

If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.

- Sun Tzu

Come on Gomp, you can do better.

[trod]

Everyone knows the bailout money will trickle down. Under Reagan money trickled down from the ULTRA RICH to the SUPER RICH.

[Z]

Gomp...

Go play with Trod, you two should hit it off just fine.

[S. Gompers]

There is a difference between knowing the enemy and believing the enemy. And you have proven to be a most worshipful student.

Student being your own word.

[Z]

Jumping the Shark...wow.

[S. Gompers]

Neogobius caspius, relative of the proper sharkminnow.