According to Libertarian Attorney General candidate Carl Person, Andrew Cuomo , as HUD Secretary helped to create the mortgage fraud and predictably has done nothing to stop banks from using false affadavits. Person says “Andrew Cuomo has a duty as NYS Attorney General to start lawsuits to stop Bank of America, JPMorgan Chase, GMAC, Countrywide, Wells Fargo and other lenders from using the New York courts to foreclose mortgages on homeowners in NYS.”
Person explained that “these banks and lending institutions have been filing false affidavits in New York foreclosure actions for several years and have been illegally obtaining judgments of foreclosure and illegally selling the homes of many tens of thousands of homeowner victims.” Presently, there are approximately 80,000 foreclosure cases in the New York courts, with more being filed every day.
“Cuomo is trying not to get involved”, said Person, “because he helped to create the mortgage fraud when he was Secretary of Housing and Urban Development (HUD).” Person also stated that “Cuomo should have recused himself and let someone else in his Office of New York State Attorney General be assigned the responsibility for ensuring that mortgage foreclosure fraud is stopped in NYS.”
Person went on to say that the banks, servicing companies, and other participants in the illegal activities should be penalized by not being able to use the New York courts to commence or pursue any foreclosure actions in New York State as to any residential mortgages, and that the banks should not be able to assign the residential mortgages to anyone else for the purpose of starting foreclosure proceedings in New York State.
What needs to be done, according to Person, “is to require the banks to enter into modification agreements with residential homeowners decreasing the monthly payment to the current low mortgage rate of 4.5% or so and decreasing the principal amount of the loan to 90% of the present value of the property.” As to each property for which this takes place, the bank would then be able to enforce the modified mortgage in the New York courts.
“Everyone can see that Cuomo is unable to serve honestly as New York State Attorney General, and this should disqualify him from becoming Governor of New York State,” according to Person.
Cuomo’s running mate for NYS Attorney General hasn’t done anything in Albany to stop the fraud, and can be expected to do nothing except benefit the banks.
Person said “If elected, I would commence the needed lawsuits to stop this devastating fraud on the NYS courts and homeowners.”