Instead of pursuing foreclosure fraud the law enforcing arm of the federal government is either looking the other way or even shutting down its offices. This has led to frustration among the states that are doing their own investigating.Nevada took the lead in filing criminal case against executives of LPS.

Many of those who have crafted plans for the conversion of foreclosures of Fannie Mae and Freddie Mac were previously closely connected with bringing about the sub-prime crisis. Some are facing lawsuits regarding the role they played during the booming years. Now they are holding important posts in other firms.

Bankruptcy helps people to stay in their homes and is especially helpful to those ignored by lenders trying to modify their loans. A new programme is scheduled to kick off in Berks County from 1st January that would compel the lenders’ representatives to meet directly the borrowers, if the latter so desire it.

Romney wants unhindered passage to foreclosures. He has forgotten that the drunken behaviour of banks and equally heady bailouts caused the entire economy to go down on its knees. Millions are suffering. They need help in the form of forbearance, modification and or refinancing.

The attorney general of Indianapolis, Greg Zoeller announced that more than 70 victims of foreclosure fraud will receive compensation of $60,000 from the newly created Consumer Protection Assistance Fund. During foreclosure crisis, many homeowners became victims of frauds. Pundits think that without improvement in the economy fraud will continue.

Some neighbourhoods in East New York have the highest rate of vacant foreclosed houses. These blight the locality as they slowly crumble due to neglect. Since the banks will not do anything the Occupy Wall Street activists have now started to target these houses. They are matching families without homes with homes without families.

A media interview with Tom Borgers – the man in charge of fraud investigation by FCIC reveals certain startling facts. The findings of the investigation show staggering fraud to the tune of trillions of dollars but till now none of the top brass has been prosecuted. In the previous Savings & Loans scandal hundreds of bankers had been imprisoned.

The Occupy movement in a well orchestrated manner is shifting its focus to the indoors by putting homeless families inside homes, disrupting foreclosure auctions and putting pressure on banks to fix the economy by reducing principal on the loans. It is hoped that action day kicking off on 6th December will give fillip to the movement.