In the Ventura County Star newspaper 2/8/12, under the Public Notices, specifically the NOTICE OF TRUSTEE’s SALE section; it was filled with defaulted properties.
http://www.vcstar.com
It stated the individual properties, giving addresses, and the full names of those that have been charge with default and their failure to meet a financial obligation.
If the person, the trustor, defaulted and cannot pay or doesn’t take action to protect their property, on the given date, it may be sold at auction. Each notice also gives the business name of the “trustee” and parties that have signed a deed of trust.
The majority of the cases listed the trustee and/or benefactor as the Recontrust Company. Recontrust is actually a subsidiary of Bank of America, it’s debt collector limb.
On Recontrust’s website, there are currently 949 properties in the foreclosure system in Ventura County.
Their website discloser: “Neither Recontrust Company, its employees, its agents or any affiliates will be liable for any loss you or others sustain in relying upon this information.” It seems that Bank of America and Recontrust are busy in the courts claiming the deeds and hoarding the cash from the sales. While thousands, and thousands of Americans continue their daily struggle, and many losing their homes, Bank of America reported that in 2011 their fourth quarter net income was $2.0 billion.
What is it Bank of America and Recontrust… Bank of AmeriCon or Bank of NoTrust?
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I will be continuing to investigate some of the local cases. Keep on~ Janet
Melinda said:
There are remedies for this process. I am just learning myself by studying the financial system and how contracts work. I have been intensely studying and researching for several months. It might be beneficial for people to educate themselves by reading information readily available on the Federal Reserve website, along with the commercial codes defined by the state and how contracts work, and get together with others who have the same objective. It is not above anyone’s head. It would likely be beneficial for people if they gave themselves more credit in regards to their intellectual capabilities. It might allow them to take some power back. I feel for everyone and have a personal goal to help make the way in which we live better for everyone around me in any way I can.
janet_murphy said:
Hi Melinda,
I agree with you about people not thinking they can understand the problems in front of them, especially relating to foreclosures. Many people need support in order to start the self-empowerment process.
With your knowledge and desire maybe at the next GA you can make a proposal to form a Foreclosure working group. I believe this would be well received.
Also, can you share some of your research information in this forum?
~janet
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