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.
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?
I will be continuing to investigate some of the local cases. Keep on~ Janet