Too funny! There's nothing like making fun of families facing eviction at holiday time. Next year they should change the theme to the little cancer kids at St Judes Hospital, that would be really funny. There mom's did a wonderful job bringing them up. Even though we will never make the money that the banks foreclosure attorneys make, we still feel like we are helping people.www.johnmschwarzlaw.com

Wow, just when I thought we had enough proof that these people are scumbags...

Pathetic Scum...  I trust that I will see Baum in Hell...He will be up to his neck in boiling shit, but I will be sitting on a rock

That rock seems to be on the wrong side of the pearly gates.

Objectively speaking, increasing one's exposure to the risk of a debtors strike & walking away from modification programs in an economy that can't offload the foreclosed properties already on the market is just stupid. 

They used their clients $ to make fun of their clients on company time. While under investigation. And now the whole world knows exactly who Baum is. This is not a good business model. 

These people are as stupid as they are criminal. Buffalo isn't that big, guys. Might want to consider some changes. 

Debt collection of all kinds seems to be centered in Buffalo. Not just mortgage foreclosure, but credit card debt collection and ever other evil seems to have set up shop in Buffalo. Baum seems to have plenty of company.

If you are foreclosing on a house that is $150K because you've become disabled, I feel sorry for you.  That sucks.

However, if you are foreclosing on a $750K house when you should have purchased a $300K house - and now you can't afford it because your ARM kicked in then too fucking bad.  I hope your credit stays fucked up for a long time and no bank will give you a chance in the future. 

You seem to be one of the few people unaware foreclosure mills are detested because of fraudulent documentation they are submitting to the overwhelmed courts. Do yourself a favor and check with Google how many cases they submitted when there was no mortgage at all, or when the bank screwed up their records and the owner DID make all payments or when they failed to notify the homeowner as required by law. Most of the foreclosure mills could and should be prosecuted under RICO (racketeering) statures.

You obviously didn't read all of my comments on this page before writing a knee-jerk "hate m015094" post. 

I think the people who falsified mortgage documents should go to jail - or at least pay a huge fine.  And I agree....Why did some banks have such shitty record keeping practices? 

I stand corrected.

Thanks.  I'm not a supporter of banks, or realtors, or the home owners that got fucked with shitty mortgages. 

I just try to elucidate what happened,  People hate admitting that they were part of the problem when a financial "crisis" happens.  How many realtors do you know that take blame for the housing bubble?

Can you please explain what this has to do with the topic at hand? Making fun of your own clients homelessness based on your own shoddy products? 

Ford sells you a lemon, they pass a lemon law. Banks "advise" you to buy a lemon which explodes AFTER the bank was CAUGHT LYING ABOUT THEIR MORTGAGE PACKAGES TO INVESTORS, and people like M015094 judge strangers' complex financial transactions based on 3 years' stale partisan talking points. 

Disclosuer: no lemons or ARMS have blown up in my face - i just have a problem with your armchair hypocrisy.

Ok, let me make this clear.  Banks offered ARMs and no-interest loans (not anymore) because they worked well for investors - i.e. homeowners looking to buy houses while paying a lower initial interest rate.  Many homeowners made millions  using these two types of loans during the 2000's.

Anybody who signed a contract for an ARM who did not understand the terms of it is a moron.  This isn't an iPod or other small purchase where you should skim over the fine print.  In fact, you have to initial line-item paragraphs on mortgage contracts that explain the terms.  So, do I feel sorry for people who didn't bother to switch over to fixed-rate mortgages and ended up in foreclosure?  Nope. .

Since the banks had the customers' information and offered ARMs they knew the customers couldn't afford when the interest rates were going to be adjusted upward, the banks were knowingly not making prudent bank loans in the best interests of the customer nor shareholders.

The adjustable rates were based on markets the industry  itself, often the bank issuing the loan itself, ruined - often because they repacked these very same mortgages & sold them at far more profit than they were worth. Illegally. 

"Many homeowners made millions " this only goes to show how little you understand reality. 

"Anybody who signed a contract for an ARM who did not understand the terms of it is a moron. "

The terms did not reflect reality: the interest rates were subverted because of criminal misconduct.

Your own anecdotal stories aside, for whatever reason other families didn't have the credit scores or earning potential you did. That doesn't mean you wouldn't have fallen for the same con in someone else's shoes. 

"this only goes to show how little you understand reality."

Reality?  I made millions from this.  So did all the people I know that got out of real estate before 2006. 

I know it must suck for those of you that were too stupid to realize that a housing bubble was taking place, but that's your own fault. 

Hey, here's a clue:  Buy property when the price is low - like NOW.    And then sell years later when the price has increased.  Are you that stupid?  

But, you'll probably just complain about the economy and do nothing. 

"I made millions from this."
Like I said, I don't think you understand reality. 

Just because you were too stupid to have foreseen this real estate collapse doesn't mean others did not.

Do you think someone should be able to purchase a $750K house when they can't afford it?  Why would a bank issue that loan- does the bank bear no responsibility?

You're acting like banks gave out loans to bums on the street or people making minimum wage.  That didn't happen.

In fact, in 2004 when I purchased a home, my bank had a set rule that the mortgage amount was capped at 50% of income.  It's now capped at 33%. 

And you are forgetting about the enite decade during the 90's where banks were criticized for not giving loans to poor people - which is partially why legislation was passed to make loans easier to get which then caused a housing bubble.  Oops.