Posted on 10/17/2010 7:53:31 PM PDT by Razzz42
People are starting to fight back against mistreatment by mortgage lenders. And the extent of the housing mortgage mess is beginning to come to light.
(Excerpt) Read more at youtube.com ...
If you were thinking of challenging the note holder whether you are current on payments or not, I'd hurry up before Congress waves its magic wand trying to fix this mess.
How could that woman in the video not know how much money she owed?
FYI ... This show comes from the left.
hey attorneys have known this for a couple years three four maybe
creditors are (were) buying bad debts and suing people
all you have to do to fight it is say “show me the contract you are relying on” and they ain’t got it , all they have is some computer printout
poof
away goes the case and then you also may have a Fair Debt Collection Practices Act case for damages....ha ha
I was explaining this to a client on a different matter and she was p o’d saying you mean then they get the thiing for free?
My response was “no, then the creditor has gotta do it right to get their money.”
This is what happens when do not use a credible financial institution and follow your account.
I have been with my bank since the mid-1980s. Not even one mistake on any of my accounts. I can check my accounts online at any time.
However, these people were still behind on their mortgage.
Note that MERS was an attempt by banks to rip off states and counties by avoiding paying the required fees, which in my mind, are far more Constitutionally-correct (levies and excise taxes) than the IRS or income taxes. Now MERS has backfired on them.
That’s why I used my institution.
If you believe this story is ligit, then you are a stooge to the media. msnbc, shady lawyers and greason, ya that’s a reputable bunch. No thanks, I don’t buy it.
Unless your bank gets bought out, etc...
Doesn’t matter how good you look, things can change.
My loan was with National Mortgage. It was almost across the street from me. Now this was 20+ years ago. Then after 12 years, and much expansion, they get bought out by Boatman’s Bank.
Two years later, they are bought out by Nations Bank. They ended the practice of people being able to pay their mortgage on site after 1 year. Two years later, they are bought out by Bank of America. BoA really sucked and caused me problems. I had to express mail my payment to prove it was received on time for 2 years.
Two years ago, I paid off the BoA and hopefully never have to do business with them again. But can you see that it is not always what you want?
The cases represented in the video are only a few of many. Lawyers that specialize in Mortgage Fraud and Forensic Analyst and are Certified Fraud Examiner are making a mint off this corruption. So they should, it’s a abomination that unethical banksters collect charges from home buyers then again by securitizing the tile deeds without using the proper documentation.
The results of this fraud is just now going mainstream and is far from being over.
Calling someone a liberal is what liberals do.
There was a contract. The lender agreed to loan money with the house being the collateral. The borrower agreed to barrow the money and pay it back with the house being the collateral. The borrower fails to make the payments for 6 to 12 months thus forfeits the collateral. Everybody agreed to it there are no surprises. Just because there is a snafu in the paperwork does not void the deal, everyone knew the intent of the contract. What’s next, because there is a typo on some document you suddenly just outright own the house? Just remember, if that is the case. That someday when you finish paying off your house and the bank suddenly finds a typo you made, they may suddenly own your house free and clear. Whats good for the goose is good for the gander. This whole thing is nothing but a tempest in a tea pot and a distraction.
I remember when just the democrats thought that perjury was just a minor issue, no big deal.
There is no perjury, just sloppy book keeping. I’m baffled by people watching a report on msnbc interviewing sleazy lawyers on an issue brought by greyson and believing it’s a legitimate story. But then again, I was amazed when people actually voted for obumber too.
50 states are not investigating because of a biased news article.
Here is an actual court verdict, confirming that banks are perjuring themselves.
That's because you've opened your mouth before educating yourself on the subject matter, hence announced your ignorance to the forum.
This is not a liberal/conservative political issue. It has nothing whatsoever to do with "greyson" (sic) and has far-reaching implications.
For example, those of us who are actually up-to-date and paying our mortgages (like myself) could be making payments to an institution that isn't actually the legal lender. Think about that for a minute.
Or, perhaps, we could pay our mortgages off just to have another entity down the road demand payment. Wouldn't that be lots and lots of fun?
Or, we could be buying properties with clouded title and unbeknownst lean-holders who show up after closing and make everyone's lives miserable.
These are just a few examples of what could result from this mess. This is what happens when THE LAW is not followed.
Disregarding real estate law is not a conservative ideal, as you seem to imply.
These states attorneys general would not call for a freeze on foreclosures if this was much ado about nothing.
It is fundamentally about who owns title to the property.
Most people understand that the debt must be paid or the property can be taken away by foreclosure.
The entire mortgage system and, indeed, the value of real estate itself, is tied to knowing who owns property.
This is more about who is the lawful owner of the property and it is fundamental to the massive issue.
You may dismiss this as nonsense but title to real estate is a fundamental contract law issue and could take down the entire economy. If you can't be sure of real estate title, the foreclosed property cannot be bought or sold with any confidence.
This problem extends far beyond foreclosed properties. It goes to the heart of the buying and selling of millions of mortgages that are not delinquent or in default.
I see that somebody hasn't done very much research of this issue.
This is far more complex than most people imagined it could possibly have been.
Then look at the added complexity of the legal quagmire when you deal with mortgage bonds created by major U.S. investment banks and sold to investors all over the planet -- out of individual mortgages that were (and still are) subject to the banking and foreclosure regulations of individual U.S. states.
This is not going to go away anytime soon.
That was an awesome read. Thanks.
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