In fact, some those defaulted property owners are still being billed by their counties for property taxes; some are still responsible for the rodents, trash, etc., that continues to accumulate after those people have packed up and moved out. And here’s a vivid story of how a purported foreclosed home lying dormant can cause all sorts of problems, such who owns it, and who is to blame for this child’s death. Read: “Child’s death mired in nation’s foreclosure crisis” @ http://www.gbooza.com/group/worldnews/forum/topics/childs-death-mired-in-nations#axzz1xR4MgMw0

Additionally, what many people do not know is that too often “simulated” foreclosure auctions of peoples homes take place, whereby fraudulent “credit bids” are placed by people who have no lawful right to place those auction bids. Therefore, the property deeds that become recorded are null. Furthermore, subsequent buyers of some of those fraudulently auctioned homes are purchasing properties with defective / cloudy property titles. And even more appalling is the fact that after shame foreclosures occur, innumerable people will receive an IRS tax bill after some lender’s name become place on a false IRS form 1099-A.

There is a WHOLE lot more to the foreclosure fraud picture than just the unfortunate problem of some ‘deadbeat’ defaulted borrower. A whole lot of people become snagged in the real estate racketeering scheme, that far too many judicial systems have for decades condoned. I can vouch for Wells Fargo and Freddie Mac! Example: “Foreclosure Frauds, Wells Fargo-the Fox in Charge, and Victimization” http://newsblaze.com/story/20101028181052lawg.nb/topstory.html;
also see: “FORECLOSURES -Keeping it real about: mortgage lenders, borrowers, attorneys”http://open.salon.com/blog/wwwlawgraceorg/2010/10/30/foreclosures_-keeping_it_real_about_mortgage_lenders_b

I did observe where you’ve not listed Louisiana as a location where you practice, BUT I thought perhaps there might be some chance of help for us, that would greatly impact foreclosure and collection abuses especially associated with Wells Fargo. I am always hoping / asking / trying to call attention to what is taking place here. Also, as you probably know, the lawsuit that was filed by the Clerks of Court of Louisiana against lenders and banks should assist in exposing the atrocious problems that are taking place everywhere with real estate frauds.

Perhaps thousands of Louisianians remain shut out after Katrina due to “land grab” foreclosure frauds and judicial collusion. Hence, whoever is willing to take on Wells Fargo here in Louisiana would hit pay dirt!

Brian Mahany

Unfortunately the trend has worsened since the writing of the first book.

Your remarks certainly have validity. The rules – or should we say lack of rules – and guidance from the IRS on OVDI is particularly frustrating. Still, we think much of the blame belongs with Congress and the administration.

Brian

Also, the IRS came up with the OVDI programs. And even the Tax Advocate Nina Olsen has said that they are administrating this program in a manner which is unfair to minnows. The IRS is to blame for this. Congress didn’t create OVDI.

I urge folks to come and read our website, http://isaacbrocksociety.com