The banks and mortgage companies have a great game face. On the evening news, they provide a sympathetic tone and assure viewers that they have no choice but to foreclose on mortgages and boot home owners to the street. Behind the scenes it is a bit of a different story.
Meet the firm of Steven J. Baum. His firm is one of many that serve the huge banks like Citigroup, JPMorgan Chase, Bank of America and Wells Fargo are tasked with the job of foreclosing and evicting home owners. Some claim that when such an action is profitable for the bank, efforts to evict home owners begins with only one missed mortgage payment. While you might believe such actions are necessary and never done with glee, think again.
It is business as usual at these and other firms despite an investigation by the Department of Justice. What is business as usual with these people? Poking fun at the people they evict. Photographs of their Halloween Party were sent to Joe Nocera of the New York Times. Those photographs reportedly depict the Homeless theme party hosted by Steven J. Baum’s firm.
Meanwhile, the same banks that depend on such firms to foreclosure on homes when the homeowners miss payments have told the Federal Government that the banks themselves are not able to repay their loans. Maybe we should foreclosure on the banks, cause them to become homeless, and then make fun of them at our Halloween parties.
Photograph and story from: http://gawker.com/5854540/top-foreclosure-firm-threw-homeless+themed-halloween-bash