Remember, this entire subprime mortgage fraud was designed not only to move billions of taxpayer money to the top and trillions in personal wealth from the middle/lower class, it was designed to clear out working-class and low-income people from the city centers billed to become affluent with the movement of corporations and the rich from suburbs to a much easier defended urban center. That is why outright fraud was allowed to continue for years and it is why Rule of Law was suspended and bailouts went to those committing crimes and not to those who were victims. It was necessary that the Federal government not intercede to protect the public as the goal was to send as many homes into foreclosure as possible to give housing ownership over to a small group of investers. It is also the reason behind the Fed's policies of 0% interest and QE.....the longer the economy was stagnant the more families would lose the ability to make mortgage payments sending ever more foreclosures to these investors for development. SO, THE FACT THAT MARYLAND HAS AN EVER-GROWING FORECLOSURE RATE IS A SIGN THAT THIS SCHEME IS INDEED PLAYING OUT! Remember, the postage stamp subprime mortgage fraud settlement was to help people stay in their homes but as Maryland Consumer Rights Coalition stated earlier this year, the Attorney General's office is failing to oversee this process and it is not happening. Instead, all that money is being sent to affluent development projects padding profits for developers who are getting wide expanses of real estate in the city for next to nothing and then proceeds from fraud to fund this. They have to hurry because QE is ending soon as most of the foreclosure bundling ends and the dirt cheap price of buying and selling homes given to these investors now needs to go up so these developers can now make big profits and sell only to high-end buyers. That's how you clear a city of its residents and you do it using these same residents as the main revenue source of taxes.
This is massive fraud....we know it involves trillions of dollars to come back to these people losing their homes. It involves trillions more in damages to those losing their homes when they should have received help from a collapsed economy caused by the fraud. Selling wide tracks of city property to developers who then fail to meet equal housing requirements for mixed income is also illegal. As we heard in the NPR report today about Chicago and its attack on public housing land use, they are going to court to start the fight and Rahm Emmanuel will go back to being an investment banker next term because Chicago still has a democratic system of community activists that will see to that.
The important thing with this loss of middle/lower class income is that it is only temporary. When Rule of Law is suspended so to is Statutes of Limitation and all of this 'aiding and abetting' by justice and politicians will find justice and the amounts paid by the banks will be in the tens of trillions so as to include all the other massive frauds they have been allowed to carry out with no justice. The American people will have a bonanza of wealth in the very near future! The people losing their homes are seniors and working class who invested in these homes as their retirements. They are families made poor by long-term unemployment who supported these homes through shared used by extended families. These were people who worked hard and lived by the rules. The banks on the other hand are people who are sociopaths using lying, cheating, and stealing to get ahead. Never in history has it ended well for the sociopaths! Think of Hitler, Hussein, and Gaddafy, and now Wall Street and their pols!
Md. foreclosure activity high despite recovering market With decline in new delinquencies, officials hope foreclosures will taper off
By Steve Kilar, The Baltimore Sun 9:52 a.m. EDT, June 22, 2013
Maryland's housing market is improving, but many homeowners still face trouble.
Foreclosure activity in Maryland last month reached a 33-month high, according to RealtyTrac, which gathers real estate data nationwide. Among the states, Maryland had the largest year-over-year increase — 229 percent — in foreclosure starts in May.
"Every day, we just get a lot of struggling, hurting, scared homeowners," said Owen Jarvis, an attorney with the St. Ambrose Housing Aid Center in Baltimore. Although many homes going into foreclosure now are investments gone wrong, not owner-occupied properties, scores of homeowners are falling behind on payments, he said.
Lenders began the foreclosure process on just over 2,000 Maryland properties last month, according to RealtyTrac's figures. And last month's high foreclosure figure is not an anomaly. Maryland's foreclosure numbers have been among the highest in the country for about a year, ranking fourth last month.
Several factors are behind the state's elevated foreclosure rate.
Some lenders have dragged out the process, possibly biding their time until the market improves. The chief reason, though, is that Maryland changed its foreclosure laws after the housing bubble burst, requiring more oversight and a more drawn-out process for banks to claim property.
Maryland's extended foreclosure timeline has given many homeowners time to pursue relief, such as mortgage modifications, from lenders. At the beginning of the financial crisis, foreclosures in Maryland could be completed in a matter of days, leaving homeowners little time to react to bank actions.
The post-bubble spike in mortgage delinquencies prompted the General Assembly to rethink the state's foreclosure process. Legislators extended the amount of time required before a foreclosure auction, increased access to housing counseling services and instituted a mediation program.
"The governor early on decided that we, Maryland, did not want to be the state with the fastest foreclosure process," said Raymond Skinner, secretary of the Maryland Department of Housing and Community Development. "Our approach from the beginning has been to focus on our homeowners and keep as many people as we can in their homes."
The minimum number of days a foreclosure in Maryland could be completed went from 15 to 135, Skinner said. On average, it now takes 575 days to complete a foreclosure in Maryland, said Daren Blomquist, vice president at RealtyTrac.
But the high foreclosure activity, which is expected to continue for months, also might have a chilling effect on the state's budding housing recovery.
Maryland's lengthier foreclosure process helped create the state's current flood of foreclosure activity. In comparison, states such as Virginia, where the foreclosure process is faster, have already moved a significant chunk of troubled properties through the foreclosure pipeline. Virginia law allows foreclosures to go forward without the oversight of a judge, allowing a speedier timeline.
In the first three months of the year, Maryland had 39 foreclosures per 10,000 households. Virginia had 19.
"This certainly is not good for the market," Blomquist said. "The Virginia market does appear to be experiencing a stronger recovery, and these foreclosures are weighing down the Maryland market."
In May, median home prices in Maryland were up about 5.3 percent, according to the Maryland Association of Realtors. In Virginia, prices were up 7 percent, according to the Virginia Association of Realtors.
Pricing isn't necessarily tied to the number of foreclosures; home prices are influenced by many factors, including inventory and population growth.
And while prices in Maryland are recovering more slowly, the number of sales has increased significantly. In May, 13 percent more residences sold in Maryland than a year earlier, a slightly larger increase than in Virginia, according to the Realtor groups.
Foreclosure activity is up for all stages of the process in Maryland, including the filing of a foreclosure suit, judicial orders authorizing properties to be sold and conveyance to the lender, said Blomquist.
"It appears that the pig is moving through the python," Blomquist said.
When Maryland's mediation law went into effect several years ago, the number of foreclosure filings per month dropped from about 5,700 to around 1,800, he said. Homeowners who weren't able to get help through mediation have simply seen the inevitable delayed, he said.
As you see in the article below, the city has no interest in developing as the community wants and needs....it looks for developers that will build high-end housing with the goal of gentrifying the community. Hampden has tons of vacant buildings needing attention from investors but they want land that has a long-term co-op valuable to the community members. Remember, the foreclosure settlement would have brought millions to many communities in Baltimore to do with the community as those defrauded wanted. As we see with the foreclosures above, there is a direct intent to develop the working class and poor with their assets out of targeted communities and they are going about it anyway possible. This is a Third Way corporate democratic state working hard for wealth and profit including suspension of Rule of Law to do it!
Baltimore Free Farm bids on city-owned lots But group also protests sale in Hampden as 'unnecessary'
By Larry Perl, firstname.lastname@example.org 11:28 a.m. EDT, June 24, 2013
Urban farmers are complaining about the city's plan to sell two lots that are part of an ambitious community garden on a working class street in Hampden.
But they are also trying to buy the lots to prevent them from being developed.
Baltimore Housing put the lots, located at 1522 and 1524 Baldwin St., out to bid last month after a developer expressed interest in building a house on each one, housing officials said. The sale is part of the city's Vacants to Value program to sell abandoned housing stock and empty lots.
The developer, whom housing officials would not identify, has since bid on the properties — but so has Baltimore Free Farm, a Hampden-based group that promotes urban farming, community gardening and environmental sustainability.
Among other projects, Baltimore Free Farm built and maintains the Ash Street Garden, a community garden with its own front gate, underground irrigation system, chicken coop and greenhouse on a steep hillside overlooking Interstate 83. The garden consumes three lots in the 3500 block of Ash Street, and borders the lots on Baldwin, around the corner.
Baltimore Free Farm has raised an unspecified amount of money to make a competitive bid on the lots, and has submitted a petition with more than 1,200 names to the city, asking for priority consideration, according to Reagan Hooton and Bill Thomas, organizing members of the group
Baltimore Free Farm should have the edge because the group has spent several years reclaiming the lots from neglect, they said.
"This whole hillside was trashed," Hooton, 33, a part-time Johns Hopkins Hospital worker said Wednesday, June 19, as she strode up a dirt path to the top of Ash Street Garden. There, Thomas, 26, and Baltimore Free Farm summer intern Jon Smeton, 20, a Hopkins University junior, shoveled a composting bin, while chickens clucked in the nearby coop and cars whizzed by on I-83.
"I feel like we've done the city all these great favors," Hooton said. "We turned (the site) into something productive."
Although Baltimore Free Farm has formed a corporation, Horizontal Housing Co., to buy the lots, it also protests the sale as "unnecessary" on its website, http://www.baltimorefreefarm.org.
The group says it has given away hundreds of pounds of free produce and vegetables to area residents, and accuses the city of shopping the lots "to those who provide the highest economic value, rather than those who provide the highest community value."
"With many other vacant houses and lots in the Hampden area, we feel like selling these two particular lots for development is unnecessary and unfortunate," the website states.
Several houses are vacant and boarded in the 3500 block of Ash, where Baltimore Free Farm has its offices across the street from the garden.
Housing officials praise Baltimore Free Farm.
"They're a creative bunch and they've done good work," said Julie Day, deputy housing commissioner for land resources. "They've made a real difference in this community."
But Day and Baltimore Housing spokeswoman Cheron Porter said that although Baltimore Free Farm has a lease with the city to use lots on Ash Street, it does not have a lease or a license to use the lots on Baldwin. Baltimore Free Farm has tried to lease those lots under the city's Adopt A Lot initiative, which is part of Vacants to Value. But the city has turned the group down, "because there was the potential for development of these properties," Day said.
Day said it would be misleading to lease the Baldwin lots to the group, only to turn around and sell the lots later.
The problem, said Hooton and Thomas, is that the lots on Baldwin overlap several lots on Ash and have become part of the garden. The group would be losing about one sixth of the half-acre site it farms, they said.
Baltimore Free Farm has submitted several letters of support to Baltimore Housing, including a letter from City Councilman Nick Mosby, who represents the area, Hooton said.
Time and again Baltimore has given grants and accepted Federal monies with the agreement to meet the commitment of mixed-income housing in city center .......IT STILL IGNORES ALL OF THESE REQUIREMENTS AND CONTINUES TO DEMOLISH WITH THE FUNDS DUE LOW-INCOME PEOPLE.
TAXPAYER MONEY IS BEING USED TO PAD THE POCKETS OF WEALTHY DEVELOPERS GETTING SUBSIDIZED IN EVERY WAY WHILE THE CITY HAS 4,000 AND MORE HOMELESS. WE HAVE ANIMALS AS POLITICIANS IN MARYLAND! IF YOU LOOK BELOW, BALTIMORE IS GETTING SUBSIDIES FOR 3,200 HOMES THAT NO LONGER EXIST BUT THAT MANY PEOPLE ARE HOMELESS!!
We've said that we're going to create mixed-income communities. We're not looking to build 100 percent public housing back on site. The past 30 or 40 years have showed that it doesn't work.
The dismantling of Baltimore’s public housing:
Housing Authority cutting 2,400 homes for the poor from its depleted inventory A 15-year trend shows a decrease of 42 percent in occupied units. By Joan Jacobson While more than a quarter of Baltimore families are living in poverty, more than 2,400 1 homes for the poor are quietly being removed from an already depleted inventory of the Housing Authority of Baltimore City. 2 With little public input, this plan will eliminate the same number of homes removed from Baltimore’s four imploded public housing high rise projects a decade ago. 3 On its 70th anniversary, the housing authority - once on a mission to replace slums with safe homes for Baltimore’s poor - is now in the demolition business; its occupied inventory has dropped by 42 percent over the last 15 years – from 16,5254 units in 1992 to 9,625 in the spring of 2007.5 With virtually no plans to replace the deteriorated units being razed or sold, tenant representatives and housing advocates have watched with growing alarm as they wonder if the housing authority has abandoned its mission to house the poor. 2 Housing Authority officials blame their predicament, in part, on an aging housing stock, federal cutbacks and increased utility costs. The agency’s budget for operating, capital and drug elimination funds has been cut by $79 million over the last six years and its finances are far short of the hundreds of millions of dollars needed to repair its aging housing projects. 6 The agency is also diverting more than $20 million from funds usually earmarked for new public housing and rent vouchers to honor a court order to retrofit 830 units for disabled public housing tenants. Nevertheless, the Housing Authority is not in complete financial distress: * It has a $26 million reserve it can spend for operating or capital improvements.7 * It has yet to spend $18.5 million awarded six years ago to replace 1000 units lost in the demolition of Hollander Ridge in East Baltimore.8 * In a special arrangement with HUD, reserved for a select number of housing authorities, Baltimore’s Housing Authority gets to keep operating subsidies for every public housing unit it has abandoned or demolished since 2005. This year, Baltimore expects to receive $4 million for 3,201 homes that no longer exist. 9 * In 2004 it had enough funds to finance a half million dollar study analyzing the supply and demand of local low and middle income housing markets. The study – which urged creation of more homes for the very poor – was never released to the public or shown outside the housing authority.10 * The Housing Authority is razing some of its homes with money from a non-public housing fund controlled by the city. Earlier this year, for example, the city granted $4 million from the Affordable Housing Trust Fund for the demolition of 257 units at Somerset Court. 11 (The fund was created during a 2005 controversy over financing the Convention Center Hotel, when church leaders and city council members complained the 3city wasn’t addressing affordable housing needs. However, there are currently no plans to rebuild affordable housing on the site of Somerset Court (or at Westport Extension12, another project being razed with the trust’s money.)13 The downsizing of the housing authority’s inventory has occurred while Baltimore’s population has dwindled. But the number of poor residents has not. Although there were 28 percent fewer city dwellers in 2000 than there were 30 years earlier, nearly a quarter of those left behind were living in poverty.