Fraud-ridden foreclosure in Obama’s neighborhood


The following  press release reveals that outrageous fraud, including forgery and exploitation  of  naive young adults, regarding trusts, loans, title companies and hedge funds even invades President Obama’s neighborhood.

______________________________________________________________________

June 26, 2011     for immediate release      contact: Dr. Maisha Hamilton 312-835-1951

FRAUD-RIDDEN FORECLOSURE IN OBAMA’S
NEIGHBORHOOD

On June 28, 2011 at 2:00 p.m., Dr. Maisha Hamilton will appear in Cook County Circuit Court, Chancery Division, Room 2801, Judge David Atkins presiding. There she will represent herself, pro se, and present several motions in an effort to save her Hyde Park home on Chicago’s south side from a fraudulent mortgage/foreclosure complaint.

As an apparent local victim of the fraud-ridden national mortgage/foreclosure crisis, as revealed in relevant part by Abigail Field in her recent article, “The Enormous Clouded Title Problem” (The Daily Finance,  6:00P.M. 03/18/2011), Dr. Hamilton is contending against a slew of national and international heavyweights in the real estate mortgage/foreclosure  industry–Chicago Title Land Trust (“Chicago Title”), Logan Asset Backed Fund
(“Logan”) – a hedge fund, Deutsche Bank, Saxon Mortgage Company, Mortgage Electronic Registration Systems, Fremont Investment and Loan, Lawyers Title Company, the former Community Bank of Lawndale (now Covenant Bancshares), International Bank of Chicago, and Eastern Savings Bank, as well as several units of local, state and federal government. The crux of Dr. Hamilton’s complaint is that on November 26, 2007, her older son, Karega Bennett, then an inexperienced 27 year old, was unlawfully manipulated by Chicago Title into ostensibly pledging their family home to Logan by, among other things, telling him that the home was in a trust, when it was not, that Karega was a beneficiary of the alleged trust, when he was not, and that using the home as collateral for a $1.235 million dollar mortgage loan to Chicago Title, alleged trustee for the alleged trust, based on Karega’s personal guarantee of the loan would be a favor for his mother because Chicago Title would use his trust funds to pay personal debts that the trustee falsely alleged that his mother owed, which she did not.

Karega was not working at the time, he did not own a house, a car, or any other tangible asset of significant value, and he did not have any money in the bank. Clearly, he did not qualify by any objective criteria to guarantee a $1.235 million dollar loan. Nevertheless, Logan made the loan to Chicago Title, collateralized by the alleged trust, with the stipulation that Karega would make one lump-sum payment of $1.235 million dollars within twenty-four (24) months.

Dr. Hamilton also presents an array of sub-complaints and related issues for adjudication, including forged mortgages, adulterated deeds, violations of truth-in-lending, fictitious trust agreements, attachment of fraudulent liens to real property, loans to unqualified buyers with the premeditated intent to eventually seize their property, retaliation for reporting financial institution misconduct to the FDIC and Federal Reserve, and failure of the FDIC and Federal Reserve to protect the interests of homeowners from an unscrupulous banking industry.

Dr. Hamilton is challenging the actions of Chicago Title, Logan and other named parties in this matter as having been fraudulent, unlawful, unconscionable, and unfortunately, highly representative of what is happening to innocent citizens nationwide, who are being victimized not only by unethical but also by unlawful actions and practices of mortgage bankers, title companies, supposed “trust” companies, and other financial institutions.

Copies of her filings are available in the Office of the Cook County Circuit Court Clerk, Room 802, under Case No. 2008-CH-38680, Logan v. Chicago
Title et al
.

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