CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

On Nov 8, 172 people signed up for the call with John O’Brien, Registrar of Deeds in Salem MA and his key aide, Kevin Harvey. It was a great call and is now edited, uploaded, and linked.
O’Brien Presentation
Q&A with John
Q&A2 with Kevin and later

Nov 5, CJ Foreclosure Update on KPFA Flashpoints

Special thanks to HOFJ volunteers reaching out to their communities.
Please consider volunteering to help organize and build the movement in your area. A huge help would be to send HOFJ the email addresses for all supervisors in your county, and recorder emails for every county except those in CA [already have CA].

BREAKING NEWS
Multnomah County considers suing MERS for lost recording fees – with attorneys on contingency basis  [requesting key leaders to present in a conference call how they have managed to do this so other counties can implement these techniques]

Spain Pledges to Stop Evictions After Suicides 

IN THE WINGS
Eminent Domain/Public Banking Proposal being developed for county/city presentation across the country

As always, thanks again for your support! Until next time, cj

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

Meet a Recorder that has instituted a DEFACTO FORECLOSURE MORATORIUM for his county.   Click link to register.  Everyone is invited.  Please forward and invite everyone to join the call.

All information and registration is available on the HOFJ Conference Call webpage:  http://hofj.org/default.asp.pg-ConferenceCalls

John O’Brien and his key associate Kevin Harvey are on a mission to stop the recording of forged documents.  They will present how they have enacted a “DE FACTO FORECLOSURE MORATORIUM” by refusing to accept and record documents which raise doubt as to their authenticity and the lawful process of foreclosure.  Every property owner in the country needs this protection. 

RECORDERS FIGHTING FORGED DOCUMENTS

O’Brien on forged documents [3m video]:  http://www.cbsatlanta.com/video?&clipId=7691458

“These banks acted as a criminal enterprise.  They crossed state lines, they recorded fraudulent documents, they committed forgery, and they committed mail fraud.  They used the Unites States Postal Service to mail these documents to registries of deeds.”  John O’Brien

O’Brien letter and affidavit rejecting the recording of forged documents: http://hofj.org/virtualoffice_files/obrien%20letter%20and%20affidavit.pdf

Becker, PA Registrar’s Quiet Title Action against MERS: http://www.businessweek.com/magazine/county-recorders-vs-the-mers-machine-11032011.html

Thigpen, NC Registrar’s Lawsuit against robosigned docs: http://4closurefraud.org/2012/10/15/jeff-thigpen-guilford-county-lawsuit-against-lender-processing-services-lps-on-robosigning-goes-to-nc-business-court-tomorrow/

Next Call is scheduled for 11/15/12, from 10a-11a, Pacific Time:  http://myaccount.maestroconference.com/conference/register/9OI4J9O9A4HGMOAN

Please register anytime.  We hope to have Becker, Thigpen, and O’Brien join us for updates and expanded support.

In addition, we are compiling forged documents: http://hofj.org/virtualoffice_files/forged%20loryn%20stone%20sig.pdf

and forged notary signatures: http://hofj.org/virtualoffice_files/forged%20notary%20signature.pdf

to present to our DAs, Judges, Supervisors and City Council officials.  The key issue surrounding these forgeries is that the "ownership of the notes/loans" is completely suspect.   That's the point of quiet title action, and a key point in the eminent domain of the notes.

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

Blog Category: Home Owners For Justice
[Foreclosure Town Halls 1m video, Press Release, Radio Announce]

BELOW IS BANK INSIDER NEWS.

Please forward this news to all county officials, supervisors, county attorneys, county recorders, everyone in your  address book, all local radio and tv stations. 

Copied below is an email solicitation for me, CJ Holmes, real estate broker, to sign up for an REO webinar with absolutely scary news about the cancellation en masse of loan mods. 

This hit my email on 9/30/12 at 8:14pm:

Dear CJ,

Please make arrangements to attend one of the webinars listed below.  You will be part of a group of select Sonoma cty  real estate professionals who will qualify to apply as an REO partner for one , or several of the financial institutions who have been affected by the recent cancellation of federal mortgage debt relief programs . HAMP has officially cancelled 1 million loan mods, as foreclosure filings are beginning to surge once again with the economy heading into the fourth quarter. of 2012. The Treasury Department is reporting that 229,185 permanent mods have already re-defaulted and that 16% of trial mods have quickly  gone back into foreclosure. These numbers are expected to rise significantly as the shadow inventory backlog becomes financially unmanageable for banks.

In addition, the recent mandate by the administration that Fannie Mae and Freddie Mac discontinue writing down underwater mortgages has paved the way for the initiation of a record number "strategic default" foreclosures.  A documented  1.1 million homeowners have simply "walked away" from undervalued homes to avoid heavy IRS penalties that are scheduled to resume January 1, 2013.

These recent changes in legislation have prompted increased filings in Sonoma cty. Government controlled entities like Fannie Mae, Freddie Mac, and HUD, as well as many of the nation's largest banks are scrambling to dispose of REO inventories as quickly as possible.

It’s news like this that inspires me to do everything possible to stop foreclosures NOW. 

Counties need to immediately eminent domain ALL securitized loans and foreclosures of securitized loans and stop the banks from more fraudulently foreclosing. If we don’t stop the banks, they will foreclose the rest of the 40,000,000 securitized loans they have left in this country, and everyone and our economy will be ruined.

In the Foreclosure Town Halls, I will explain exactly how the eminent domain of mortgages can be done quickly at the county level strictly for public benefit (not private profit) and immediately halt all foreclosures on every one of those loans. 

These loans can then be modified (my suggestion) to 80% loan to market value, with credit given for the original down payment, 2% interest rate, 30 year fixed, payments being made to the county. Allowances can be made (payments deferred) for those that lost jobs until they become employed again.

This will keep owners in their homes, stabilize market values, allow real estate transactions to return to normal, eliminate the tremendous fear of loss pervading our economy.  It will provide a tremendous revenue stream for our counties, and combined with a public bank, will provide all the credit for redevelopment, infrastructure, and refinancing the county needs without having to go to private investors.

The vacant foreclosures taken by eminent domain can provide homes for those that lost homes to foreclosure, again with loan terms as mentioned above to these new owners, providing the best restitution possible for the bank theft of their homes.

Foreclosure Town Halls are taking off like wildfire – with 3 firm dates, 13 cities seeking venues and dates, and interest from 5 other states. Get your date scheduled now.

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

This is a "heads up" about coming Foreclosure Town Halls (FTH) sponsored by Home Owners For Justice in partnership with local non-profits around the country.

Please forward this information to everyone you know.

Here is the official Foreclosure Town Hall Press Release including 20 California County Foreclosure Maps, the radio public service announcement, and the TV announcement.  Please forward to all media outlets.

These first public service announcements are generic - no specific date, place or time.  As you generate interest and get an FTH scheduled in your area, I will change the ads for your area and send new ads reflecting the date, time, and location for the FTH in your area.

Next week, 10/2, we will do another press release and new public service radio and tv announcements.  The next press release will focus on the FTH Presentation Participants* and elected officials expected to attend the first FTH in San Bernardino, Oct 13th, 1-4PM.  It would be fabulous to have other FTH's in other area scheduled prior to next week's release so those dates and times could be included.  (* Public Banking Institute, Mortgage Resolution Partners invited not yet confirmed, others to be determined.)

Please forward these press releases to every print publication, radio and TV station in your area tomorrow, Tuesday 9/25 or as soon as possible.  We need to blanket the media with these coming events.  It is imperative the public know about the Foreclosure Solutions being presented at the Town Halls and that elected officials attend to learn, ask question, and get answers.

OTHER ACTIVIST SUGGESTIONS
Interview and video tape elected officials asking them if they could be counted on to attend a Foreclosure Town Hall in your area if one was scheduled, and if they would like to hear solutions to the foreclosure crisis that they could use for their county.

Call every radio and tv station in your area and insist they run the  public service announcement for free - we're non-profit, and partner with non-profits everywhere, and our communities and elected officials desperately need this information and help.

Contact the League of Women Voters in your area to solicit their support.

Contact the ACCE office in your area to solicit their support.

Contact any organization on the list below** in your area.  These organizations all signed a March 15, 2012 letter to Demarco demanding FHFA foreclosure policy changes - and got nothing.  They will definitely be supportive of this effort.

Find a place to hold an FTH and call CJ to get it on the calendar so it can be publicized. 

** 97 Orgs Demand Immediate Foreclosure Policy Changes from FHFA.  2/15/12 Letter to Demarco.
California Reinvestment Coalition
Able Works
Advocates for Neighbors, Inc.
Affordable Housing Services
Alliance of Californians for Community Empowerment (ACCE)
Alliance for a Just Society
Asian Inc.
Asian Law Caucus
Asian Pacific Policy and PlanningCouncil
Aspera Housing, Inc.
California Alliance for Retired Americans (CARA)
California Association for Micro Enterprise Opportunity (CAMEO)
California Capital Financial Development Corporation
California Coalition for Rural Housing
California Resources and Training (CARAT)
Causa Justa:Just Cause
Center for California Homeowner Association Law
City Heights Community Development Corporation
Civic Center Barrio Housing Corp.
Community Housing Development Corporation
Community Housing Improvement Program (CHIP)
Community HousingWorks
Community Legal Services in East Palo Alto
Consumer Action
Courage Campaign
East Bay Housing Organizations
East LA Community Corporation
East Palo Alto Council of Tenants Education Fund
Empire Justice Center
Empowering and Strengthening Ohio’s People
EPA CAN DO
Fair Housing Council of San Diego
Fair Housing Council of San Fernando Valley
Fair Housing of Marin
HomeownershipSF
Housing California
Housing and Economic Rights Advocates
Housing Resource Center of Monterey County
Housing Rights Center of Los Angeles
Housing Rights Committee of San Francisco
Inland Fair Housing and Mediation Board
ISAIAH
Jewish Community Action
Korean Churches for Community Development
LA Voice
Law Foundation of Silicon Valley
Little Tokyo Service Center
Los Angeles Neighborhood Housing Services
Massachusetts Communities Action Network
Mission Economic Development Agency
Montebello Housing Development Corporation
Multi Cultural Real Estate Alliance for Urban Change
National Association of Consumer Advocates (NACA)
National Council of La Raza (NCLR)
National Housing Law Project
National People’s Action (NPA)
Neighborhood Economic Development Advocacy Project (NEDAP)
Neighborhood Housing Services of the Inland Empire
New Bottom Line
New Jersey Citizen Action
Non Profit Housing Association of Northern California (NPH)
Nueva Esparanza
Ohio Fair Lending
Operation HOPE
Opportunity Fund
Orange County Community Housing Corp.
Pacific Asian Consortium in Employment (PACE)
Partners In Community Building, Inc.
People’s Self-Help Housing Corporation
Philadelphia Unemployment Project
PICO California
Project Sentinel
Public Counsel
Regional Human Rights/Fair Housing Commission
Reinvestment Partners
Renaissance Entrepreneurship Center
Rural Community Assistance Corporation
Sacramento Housing Alliance
Sacramento Mutual Housing Association
San Diego City-County Task Force
San Diego Home Loan Counseling and Education Center
San Diego Housing Federation
S. Hochhausen, USF School of Law
Self Help Enterprises
South County Housing
Southern California Association of Non-Profit Housing (SCANPH)
STAND Affordable Housing
Strategic Actions for a Just Economy (SAJE)
Sustainable Economic Solutions
Tenants Together
Unity Council
Valley Economic Development Center
Vermont Slauson EDC
Visionary Home Builders
Watts/Century Latino Organization
Western Center on Law & Poverty
Yolo Mutual Housing Association

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

1. Coming Event:  Sept 15th 1-4p:  San Jose Foreclosure Summit - 6350 Rainbow Dr, San Jose

2. Stir up "Foreclosure Madness" with these September Maps  

3.  change.org petition to get more sigs:  Foreclosure Moratorium Petition to Gov Brown

4. Washington State:  MERS cannot foreclose

5. Fannie secret bulk sales of vacant foreclosed homes to hedge funds

6. Obama's plan to prop up prices at taxpayer expense

7. Lender Fraud again:  SEC investigating ResCap [GMAC] for Mortgage Fraud

8. Foreclosure Study Pins Blame on Big Banks - but we already knew that!!

PS:  On Thursdays from 3-4p, I'm live for call-ins on TV Channel 30 (comcast/att) from the Community Media Center.  Call-in number:  (707) 569-9383.

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

Blog Category: Superior Investing Mentoring & Guidance

Now is a very beautiful time of year in Lake County, with bright days and cool evenings.  Those interested in Lake County real estate should take a good look at the current values available at almost every price point and location in the county.

Without a doubt, the foreclosure crisis drove the average Lake County home price down over 50% during the last four years, falling from almost $300,000 in 2007 to just under $128,000 last year.  However, increasing home sales this year have, to the delight of sellers, pushed the average home price up over 9%.  In fact, sales per month so far this year are the highest since Lake County’s peak sales years of 2004-2005.

Home buyers are finding exceptional deals with many residents capitalizing on reasonable home prices.  Investors are finding that Lake County rentals make good sense as renters seek refuge from increasing Bay Area rents.  And as most Bay Area counties have begun to experience home price stabilization, more vacation home buyers are finding Lake County real estate attractive.

“Have prices hit bottom and is the crisis over yet?” is a frequent question.  It is no secret that over 300 more properties are scheduled for foreclosure auction in Lake County in the coming months, but also note that foreclosure listings have declined, more foreclosures are being sold short prior to auction, real estate prices have reached true affordability, and lending interest rates are still at a 40-year low.     

Future real estate prices cannot be predicted with 100% accuracy, however, given the current combination of reasonably priced properties and exceedingly low interest rates, Lake County real estate is an opportunity that deserves serious consideration.

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

SB900 passed on July 4, 2012.  Now the other bills, Blight Prevention, Tenant Protection, AG Enforcement Act, and the Special Grand Jury Act are now on the Governor's desk. 

http://oag.ca.gov/news/press-releases/attorney-general-kamala-d-harris-announces-final-components-california-homeowner

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

 
KPFA/PACIFICA Friday at 10am Premieres Pilot Real Estate Foreclosure Show to 'Stop Foreclosures'; May be First Show of Its Kind in Nation
 
BERKELEY, Ca. – CJ Holmes, a leading foreclosure analyst and critic of the government's response to the foreclosure crisis, will host a pilot show of what may be the first show of its kind in the nation beginning Friday (Aug. 24) from 10-11 a.m. on Pacifica Station KPFA 94.1FM and KPFB 89.3FM and live streamed at www.KPFA.org.  Call in numbers for the show are 510-848-4425 and 800-958-9008.
 
"How to keep your home off the chopping block, and what we can do to stop the fraud perpetrated by the banks,” is the theme of this pilot show, said CJ Holmes, host of the "CJ Holmes" show.

Homeowners, landlords, landlords' tenants, their neighbors, and now virtually all property owners are victims of the catastrophe called the "Housing Crisis,” which has turned out to be a giant swindle designed to transfer citizens’ money and real estate to the coffers of the banks and mortgage companies.  In other words, the housing crisis is a crime perpetrated against society at large for the enrichment of financial institutions that are already fat from years of shady dealings executed in broad daylight because of feeble and unheeded government regulation.

The illegality of this foreclosure-eviction-seizure process is its weakness. While legislatures and politicians dawdle, a few informed citizens, lawyers and institutions are pushing back hard. C.J. Holmes is at the tip of the spear in this take-back-your-house movement. What she prescribes is not just hysterical defiance but thoughtful, step-by-step coordinated actions to hold your house against the rip-off artists.

Holmes, founder of Home Owners For Justice (www.hofj.org), will promote activism we can do as individuals, as groups, and as a nation to achieve the reforms we need.  The show will also touch on the hot foreclosure issues of the day, including eminent domain and ‘REO’ bulk sales to hedge funds plus answer callers’ questions as they come in.

Other Pacifica Network stations are located in Los Angeles, New York, Houston and Washington D.C.

-end-

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

Using eminent domain to seize non-performing mortgages in an effort to help solve the foreclosure crisis is an idea whose time has come. But it is already being commandeered by private investors for their personal gain. Here’s why cities and counties should implement this innovative idea themselves, without resorting to profiteering middlemen.

Truly, who needs MRP [Mortgage Resolution Partners]?? 

Let's consider the many harms brought to bear with mortgage eminent domain to benefit Private Investors:

1. Cherry-picking. The privateers plan to seize and renegotiate only those mortgages that are performing well. That is, although they may be underwater, these homeowners are not in default and in no danger of foreclosure. These mortgages are even better than new ones, because they’re tried and true and known to be performing. Taking only performing mortgages does nothing to help those already in the foreclosure pipeline, does nothing to put people back in their foreclosed vacant home, nor address the masses of delinquent borrowers that truly are in danger of foreclosure.

2. Stealing from the less advantaged MBSs. These will be non government insured private-label mortgage-backed securities held by pension funds, unions, and little old ladies, who will lose both the monthly payments they’re getting now and the principal that’s being discounted to below appraised value.

3. Public power for private gain. Instead of having to negotiate with the owners of these papers, the middlemen can use the government’s power of eminent domain to grab the papers for them. This ultimate “bullying” of weaker investors specifically to profit stronger investors is a total MISUSE of this public power.

4. Additional Cost to the County. The county (that’s you and me) is to pay the private investor a fee of $4,500 - for what? Any fees paid by the county to anybody for this effort is obscene and just a money grab on the part of MRP.

5. Potential Insurance fraud. These MBSs may not be insured by government entities like Fannie/Freddie/AIG, however this “default” will trigger any insurance of these MBSs, thus bankrupting the insurance companies along with the investors operating in these targeted MBSs.

6. Far too lucrative – moral hazard. According to the plan, “fair market value” to the MBS will be only 85% appraised value, mortgages to owners written at 95% appraised value, benefiting the investors ONLY, plus the fees from counties and borrowers investors obtain at close. In this scenario, nobody benefits except the private investors, and possibly the homeowner with a reduced principal loan. These profits will motivate every investor on the planet to hound our local government officials for access to this “hammer” wealth – “hammer” others with eminent domain to steal their wealth.   We dare not open this Pandora’s box.

7. Potential for re-securitization. Once these loans are regenerated, it is truly to be expected these private investors will partner with an investment bank to re-securitize these loans for immediate profit plus their share of bank commissions from the “gain on sale” of the MBSs. This dooms homeowners again to having their loan securitized once again for the benefit of the banks and investors.

Let’s consider mortgage eminent domain shrewdly used by counties or states:

1. Our counties and states do not need access to private money to modify mortgages. The county or state can simply eminent domain the mortgage from the MBS, and “pay market value for it to the MBS” by simply rewriting the loan principal and payments, and having the owner continue to pay the new payments to the MBS that owns the note.   No money needed, other than county/state staff to oversee rewriting the notes.  In fact, this could be done with a modest fee paid for by the borrower.

2. Our counties or states can establish Public Banks, using eminent domain on long delinquent loans and vacant and abandoned foreclosures, requiring proof from the Banks for note ownership to determine if the borrower pays the Bank the new payments, or pays the Public Bank instead. If a Bank can prove note ownership, the Public Bank uses appraised value to re-establish the home’s worth and new payments (appraisal paid for by the borrower), and the owner makes these new payments to the Bank. If note ownership cannot be established by a Bank, the owner makes their new payments directly to the Public Bank.

3. These Public Bank loans would provide the cash reserves needed for the Public Bank to begin fractionalizing and growing its loan portfolio from eminent domain orphans, expanding to refinances, making normal home loans, and providing a funding alternative for improvement projects.  None of these Public Bank loans would ever be sold or securitized. 

These uses of the Public Bank ensure that the benefit of fractionalizing and interest payments remain as a benefit in and for the county or state of the Public Bank, rather than benefiting the uber-wealthy in the system we have today with the Federal Reserve.

Here is Public Banking Institute link for more information about public banking.

This article was co-written with Susan Harmon, Public Banking Institute.  CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

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CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents. She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

1.  DELAY HOUSING RECOVERY:  Not.  SB900 will not delay housing recovery.  In fact, it will have the opposite effect.  Without this bill we can expect home prices to CONTINUE TO FALL as the banks ramp up foreclosures with little any owner can do about it.  In California, another 135,812 homes are scheduled for foreclosure in the next 3.5 months.  THIS foreclosure epidemic is what has devastated prices and will continue to do so until foreclosures stop.

This bill will help stop foreclosures, and should force servicers to get more serious about loan mods with principal reduction.  Loan mods with principal reduction would allow the market to return to normal with sellers being able to sell without having to sell short or just fall into foreclosure. 

2. INSPIRE BAD FAITH LAWSUITS:  Not.  Owners have to pay for these lawsuits up front, which will greatly inhibit bad faith ones.  However, this law will give owners some modest recourse when the servicer jacks them around as they typically do these days - dual tracking, lying to the owners about foreclosure while they're theoretically working on a loan mod, tossing owners from department to department, everybody saying something different.  Ideally, with this law in place, servicers will be forced to deal honestly and professionally with owners.

3.  DIFFICULTY IN OBTAINING FINANCING:  Not.  Are you kidding?  If anything would have stopped lenders from lending, it would have been last year's law about NO LENDER RECOURSE in a short sale no matter how the loan was obtained - refinance, investment - instead of just purchase money loans being protected.  That hasn't make a particle of difference in lending.  SB900/AB278 won't make any lending difference either.  It is just too lucrative to lend on Californian homes.  Period.

4.  FINANCING IS DIFFICULT TO GET:  Yep.  But not because of foreclosures or a lack of foreclosures, and financing difficulty has nothing to do with SB900/AB278 at all.  Foreclosures are a completely different department than the lending side of these institutions. 

If anything, it's greedy servicers wanting to securitize home loans that makes financing harder to get.  All home financing is now going through several levels of underwriting to ensure the loan follows FHA guidelines, so the servicer can be SURE to sell it to investors in mortgage backed securities, whether that is Fannie/Freddie, or the market (Fannie/Freddie are ramping up their securitization investments instead of being "wound down" as congress wants).  This is where the pressure for financing quality and difficulty comes from.  This difficulty has NOTHING to do with foreclosures or these bills.

As a member of CAR myself, I was horrified to discover CAR was against Owners on this issue.   All owners, realtors, and agents need to contact their CAR representatives and let them know this is NOT the side to be on.

As more and more owners discover the truth that bank fraud is required to foreclose and that bank fraud and lies have caused this entire foreclosure debacle, they will remember CAR being on the side of the banks..... CAR beware.

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

SB900, Home Owner Bill of Rights addressing foreclosure regulation, passed out of conference committee this morning (June 27th) with most provisions intact despite last minute effort by a committee member to delay and kill it. 

This measure, the best Californian home owners can hope for at this time, will be voted on the floor this coming Monday, July 2. 

Please call your legislators urging their positive support.  After that, please call as many of these legislators as you can.  Now is the time to step up our efforts.

Charles Calderon, dist 58, 562-692-5858
Ron Calderon, district 13, 323-890-2790
Lou Correa, dist 34, 714-558-4400
Mike Gatto, dist 43, 818-558-3043
Ed Hernandez, dist 24, 626-430-2499
Roger Hernandez, dist 57, 626-960-4457
Ricardo Lara, dist 50, 562-529-3250
Kevin Leon, dist 22, 213-612-9566
Negrete McLeod, dist 32, 909-621-2783
Juan Vargas, dist 40, 619-409-7690, 760-398-6442
Rod Wright, dist 25, 310-412-0393

Here are complete lists of California State Senators & Representatives:
http://www.leginfo.ca.gov/sen-addresses.html
http://www.leginfo.ca.gov/asm-addresses.html

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

Legislators are swayed by constituents calling.  Let's show them we care!

If you are a constituent in any of these specific districts below, many of which have been devastated by foreclosures, CALL YOUR REP NOW to support the passage of SB900/AB278, supporting slowing down foreclosures and keeping banks in check.  The vote is to be held Wednesday, June 27th, 2012.

Evidently, bills in support of homeowners and reining in banks have been held back for the last three years which one reason we’re in such a world of hurt now. 

We must not let another year go by.  Please call them to help get these legislators on board in support of these bills.  These bills are the best we can get at this time.  And definitely something is better than nothing.

Charles Calderon, dist 58, 562-692-5858
Ron Calderon, district 13, 323-890-2790
Lou Correa, dist 34, 714-558-4400
Mike Gatto, dist 43, 818-558-3043
Ed Hernandez, dist 24, 626-430-2499
Roger Hernandez, dist 57, 626-960-4457
Ricardo Lara, dist 50, 562-529-3250
Kevin Leon, dist 22, 213-612-9566
Negrete McLoeod, dist 32, 909-621-2783
Juan Vargas, dist 40, 619-409-7690, 760-398-6442
Rod Wright, dist 25, 310-412-0393

Here are the lists of California State Senators & Representatives:

http://www.leginfo.ca.gov/sen-addresses.html
http://www.leginfo.ca.gov/asm-addresses.html

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org

Blog Category: Home Owners For Justice

FORECLOSURE PANDEMIC CONTINUES:

Foreclosure Auctions Scheduled for the rest of June 2012 (from ForeclosureRadar):
  California auctions:  55,037 – 2,752/day 
  Arizona auctions:  12,726 – 636/day
  Nevada auctions:  2,481 – 124/day
  Oregon auctions:  1,783 – 89/day
  Washington auctions:  2,431 – 121/day
Total auctions for the rest of June, 2012:  74,458 - 3,722/day (just in these 5 states)

ARE BANKS SKIPPING OUT ON US??

5/14:  GMAC puts mortgage unit (ResCap) in bankruptcy.  One of the 5 banks in the AG Settlement and paid $212M as a fine, ResCap still owes taxpayers $12B of $17.2B bailout.  Buyers of subprime loans sued GMAC demanding they buy back toxic assets.  Does this mean ResCap is defaulting on the bailout payback??

5/30:  Aurora bankruptcy to be completed by June 30, 2012:  Aurora’s portfolio is being transferred to a new servicer, NationStar, on July 1, 2012 as part of their bankruptcy…  so who picks up the lawsuit tabs?  

FIGHTING BACK BY DEMANDING FORECLOSURE FEES, TEMP HALT TO FORECLOSURES, OR DA ACTION BASED ON RECORDED FRAUDULENT DOCS:

6/5:  SF: Supervisor Avalos And Recorder Phil Ting are sponsoring Foreclosure Protection Tax legislation requiring banks to pay transfer tax on foreclosures in San Francisco.  Surely counties can get on board with this revenue enhancing proposition.  Michigan won a lawsuit against Fannie/Freddie to make them pay transfer taxes.

6/6:  SF, others seek temp halt to foreclosures.  Until $25B AG settlement is to be enacted July 1, 2012.  Remember “robosigning” is just plain fraud. And that fraud is on record at our county recorder offices.  That they aren’t in prison for this fraud is beyond me.  We’re encouraging county DAs to file charges.

6/6:  Foreclosure fighters met with Butte county DA today and myself on the phone.  I was greatly encouraged to hear that all the DAs and the AG are meeting in 3 weeks to discuss this pandemic which is the major topic at hand.  Let’s do a big push in contacting our county DAs to let them know we need foreclosures to stop.

6/6:  Foreclosure CFI volunteers checking records in Santa Cruz and Butte County right now.  Check out our CFI Training page, to learn how to find fraud filed by the banks in your county records.

WHAT PEOPLE CAN DO TO HELP THEMSELVES – NEW STUFF AT WWW.HOFJ.ORG:

HOFJ web page:  5. Restitution, Reform page:  Independent foreclosure review:  [form] 2009-2010 foreclosed owners must file by 7/31/12.  if an owner feels they’ve suffered financial harm directly resulting from errors, misrepresentations, or other deficiencies that may have occurred during the foreclosure process.  Servicers required to compensate borrowers for financial injury resulting from deficiencies in their foreclosure processes. 

HOFJ web page:  2a. Free loan modification info page.  handy links to info with explanations. includes CA DRE cease and desist orders and enforcement against loan mod scammers links.

HOFJ web page:  Legal Action by State page:  Check out the AG Settlement, Facts and Executive Summary

CJ & HOFJ COMING EVENTS:

6/14:  TV production went very well, and should be loaded up to Youtube soon and broadcast on Public TV, channel 3 in Mendocino county. 

6/22:  Monterey County Foreclosure Teach-in at 1364 Fremont Bl, Seaside, from 6p-9p.
6/25:  March on Sacramento for Foreclosure Moratorium June 25^th 10a-3p.  I’ll be speaking.  We need thousands of owners to show up for this.  Foreclosures hurt everyone.  Rally for Homes.

9/8:  Santa Clara Foreclosure Summit – CJ will be speaking at event

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners For Justice and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org.

Blog Category: Home Owners For Justice

5/30/12:  FORECLOSURE UPDATES

5/16:  man commits suicide in despair due to wells fargo treatment and illegal foreclosure in Newbury Park, CA. 

5/22:  CAR claims responsibility for the death of AGs HOBOR (home owner bill of rights) AB1470 that had legislation similar to Nevada Foreclosure law changes because “it goes too far”.   This was told to me in person at a meeting I attended with CAR/NAR legislative representatives.  The bill CAR supports (AB1745) is to “stop dual-tracking for short sales”.  That’s it.  CAR seems focused on business for themselves… and have forgotten about owners.  In the meeting when I objected because owners want to KEEP their homes – they want loan modifications not short sales – you could have cut the silence with a knife.  Owners need to call their realtors to insist CAR support a well-written Affidavit of Foreclosure Authority (AFA) legislation (executive summary of AFA law example).   

5/23:  California has 64,640 home auctions scheduled for June, 2012, equaling 3078 auctions per week day. (From ForeclosureRadar software)

5/24:  Gov Brown has decided to raid the AG foreclosure victim settlement to balance the budget instead.

5/24:  I’ve heard governor Brown will veto any bill requiring any “Affidavit of Foreclosure Authority” type legislation.  Told to me by San Francisco foreclosure fighters who heard this in the capital.

5/26:  SF Supervisor Avalos And Recorder Phil Ting are sponsoring Foreclosure Protection Tax legislation requiring banks to pay transfer tax on foreclosures in San Francisco.  We need to get every county to do this.  Make the banks pay.  Surely counties can get on board with this revenue enhancing proposition.

6/25:  March on Sacramento for Foreclosure Moratorium June 25^th 10a-1:30p.  I’ll be speaking.  We need thousands of owners to show up for this.  Foreclosures hurt everyone.

Thank you everyone for your support.  May we save our country.  cj

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She recently founded Home Owners for Justice, and can be contacted at (707) 578-5727, cjholmes@cjholmes.com, www.cjholmes.com, or www.HOFJ.org.

TRULIA 2012 PREDICTIONS:
The conclusions of this article are based on several cause-effect fallacies: 
  1.  that economic recovery will lead to house price increases
  2.  that lower home prices hurt seller motivation
  3.  that economic recovery will bring construction jobs

Each of the above “causes” may affect the “results” in a minor way. 

But none of these causes are the major reason leading to the stated results. 

1.  House prices are based on supply compared to demand.  Period.  House prices will recover when there are more buyers and fewer homes for sale.

2.  In many cases, lower home prices make a house worth less than the debt against it so the sale must be a short sale.  As prices continue to decline, more and more homes go underwater motivating more and more sellers to sell short or walk from their homes.  This increases inventory, continuing the price decline which in turn pushes more home loans underwater motivating more sellers to default.  That almost every seller now knows of other families living for free in their homes over a year, defaulting seems less onerous, perpetuating a vicious downward cycle.

3.  home construction jobs have to compete with home sales.  Home construction cannot compete, regardless of the economic job environment, at much less than $150-$200/sf.  When homes are selling for $78/sf, as they are in Rochester, NY, it is highly unlikely construction will expand until home prices have risen high enough for new construction to compete.  This will most likely take several more years. 

Article Fact Correction:  Loan delinquencies are down 16%, not 25%, from their peak in first quarter 2010.  (7.35M down to 6.15M)  That means over 6M loans are still in the delinquent pipeline.  And this number does not include the underwater loans that are still performing (borrowers making their payments).

Missing Article Fact:  The downward price pressure of distressed properties has now pushed 11M loans UNDERWATER, 25% of US loan inventory.  This is seriously bad news.  With 25% of the country’s loans secured by property valued at less than the loan, it is more likely than ever greater numbers of sellers will strategically default.  This will lead to even more motivated short sellers furthering the collapse of real estate prices.

Missing Article Fact:  Foreclosures and short sales have locked out 6 months to 3 years’ worth of buyers in many markets.  This is why the omnipresent low mortgage rates have not and CANNOT motivate these buyers to buy.  These buyers can’t get loans, regardless of the interest rate.  Markets simply can’t and won’t recover until these buyers can buy again.

Hot Cities Fallacy:  connecting home prices and new construction to a smart workforce and high-tech industry is a complete fallacy.  These items have almost nothing to do with each other.  But unless you really understand real estate, it sounds good, at least at first.

What this means for Agents:  ignore this article’s conclusions.  Work with me to keep sellers in their homes, bring buyers back to the market and make every city a “Hot City”.  (http://occupy-our-homes.info/) A stable real estate market will lead to more buyer confidence, more lender confidence, more property tax revenues, and increased home prices.  That will lead to more construction jobs and economic improvement.  And that will improve every agent’s bottom line.

CJ Holmes, real estate investor since 1977, broker since 2005, and market analyst since 2007, has personally handled hundreds of transactions, viewed thousands of properties, and dealt with countless agents.  She also owns a portfolio of income producing properties, and has developed unique market analyses to determine and predict price trends, which principles apply to markets nationwide. She can be contacted at (707) 578-5727, cjholmes@cjholmes.com, or www.cjholmes.com