Remember that in Joe Kaiser’s eye’s it’s all good. Yes, people were able to stay in their homes….as renters. Kaiser testified that all have broken the terms of their lease which means Kaier is able to claim all equity for himself.

The AG’s office found the terms of Kaiser’s agreements with these homeowners to be unfair, deceptive, and a violation of the Consumer Protection Act.

http://www.seattlepi.com/local/405975_foreclosure07.html

Joe defends himself here. There may be more to this story, NOT reported by the AG’s office. Makes you wish there were more investigative reporters out there.

The defense seems to be that there were more positive outcomes than the AG’s office claims, with people able to stay in their homes, that could not have, without Bobo’s help.

“Kaiser entered transactions with more than 300 property owners. No one has ever successfully regained their home from Kaiser.”

The essential promise of “foreclosure rescue” is that the “investor” will bring the home current, stop the foreclosure and subsequent eviction, and allow the borrower to take certain steps to regain ownership of their home.

While those steps may be difficult to accomplish, or unlikely to occur, one would have to think if they occurred occassionally, there could be some merit to the program.

Since none of the 300+ transactions resulted in the advertised outcome, we can conclude it has no mutual benefit or societal merit, and is only a predatory and parasitical ruse to enrich the parasite.

Another vote for sociopath.

At least the attorney is required to act in a fiduciary manner, and could be sued (by another attorney!), for a course of action that was in such opposition to the homeowner’s best interests.

Thank you for your kind compliment. The Legislature took aim at foreclosure rescue scams with the passage of the 2008 Distressed Property Law. From what I read, the violations occurred prior to the DPL, and the violations that occurred were from the Consumer Protection Act.

There was evidence that Kaiser helped the homeowners stay in their home. But in doing so, the homeowner gave up their equity.

In terms of the available choices, it’s impossible to say without knowing each person’s individual circumstances.

To answer your overriding question, “Is there any legitimate foreclosure rescue service?” Well all the foreclosure rescue salesmen say that their service is legitimate.

My best advice to anyone being approached by a foreclosure rescue salesmen is to not sign anything without taking the paperwork to an attorney that YOU select and YOU hire with your own money. If you do not have money to pay an attorney to look at the contract, (some attorneys will let you hire them only for one or two hours, which can be more affordable than you think) then you can apply for free legal aid. Contact your state’s Bar Association for more details.

Another great piece. You deserve a wider audience for your work.

Didn’t last year’s WA ST legislature put an end to this kind of contraption? Or is this for violations committed prior to that?

Was there evidence presented in the trial that Bobo actually helped anyone stay in their home, and save their equity? That is the claim he makes, isn’t it?

Also, another question. What were the available choices to the homeowner? Were the other choices any better? Wouldn’t every other choice involve leaving the home? If there was SO much equity in the home, couldn’t the government have simply allowed the tax lien to grow, rather than foreclose?

My over-riding question is:

Is there ANY legitimate and useful application of Bobo’s procedure, that produces any kind of societal good, or is the procedure only beneficial to Bobo, and his disciples?

Homeowners having choices is good, and if we are to preserve the ability to choose from a variety of options, then naturally, SOME of those choices may turn out to be bad ones. The goevernment cannot guarantee only good outcomes for everyone. Not for very long, at least.

More questions than comments (a new record for me, I think!), but I know they are like catnip to you….

Again, congratulations on a fine piece of reporting. We need this stuff, but even more importantly, we need this stuff read.

OK, gush-o-meter off

Thanks for the compliment. I am far from perfect, but you know this.

I believe people like Joe have a great internal need to believe that what they are doing is honorable. Because of this great need, they continue to look for and find evidence that backs up their beliefs and they make an unconcsious decision to ignore evidence to the contrary. When that doesn’t work, they shift blame outward onto others.

If we are ever going to turn around this tide of greed and corruption that greased our slide into this deep and painful recession, it is going to take the clear, fearless voices of peerless BS detectives like Jillayne to serve as beacons of passionate truth during these dark days.

Frank

ps: my vote for Joe is “sociopath”.