Posted on 03/04/2012 4:05:25 PM PST by Chuckmorse
Because the regulators, Fannie, Freddie, HUD knew about it all along and were just waiting for the reelection to demonize banks and Wall Street?
So Holder once again protects his cronies. What a corrupt bastid!
ML/NJ
Oh, I thought this was about Obomba Foreclosing the US...
It happened to my wife and me. They started sending us dirtygrams at Thanksgiving and notified us they were selling our house at auction over Christmas. They had their hooks in our bank account and refused to pay their own parent company on purpose. The mortgage money was going out every month so we never noticed. I still don’t know where the money was going. It took us three months to straighten it out and the bank never even apologized.
“MERS tracks an average of 65 million mortgages by computer and processes mortgage transactions without human intervention”
Several (many?) states require a ‘wet signature’, properly notarized copy of the paperwork for any transfer of deed. Electronic transfers are not sufficient. Borrowers still owe a mortgage to someone, but who has the legal aurhority to foreclose if the deed transfer was illegal?
Karl Denninger at http://www.market-ticker.org had several articles about this practice.
“Empty houses for rent! Get your empty house and rent it! Just pay the government! Houses for rent!”
From this reply I can only guess that you do not know what a mortgage is.
ML/NJ
ML/NJ
Does anyone know if perjury, forgery and Fraud on the Court is still illegal? Or can it be used against people you think deserve to have it used against them?
technical violation - nobody is foreclosing on anyone that is making their payments.
Also, MERS does not "process" mortgages - it tracks ownership. States don't like it because mortgage owners don't pay recording fees for assignments every time they transfer ownership of a mortgage.
What was your bank? So, we will know to avoid them.
see market-ticker.org if you want to everythinng there is about the mortgage scam, Karl sums it up best, there are numerous articles posted here by Karl Deninger that are written so everyone can understand the MAJOR FRAUD we have with the banking industry
W and his Treasury Sec protected their buddies, too.
In the generic sense when some one says they owe on a motgage to the bank.
Yep; the ruling class protects its own.
Wells Fargo immediately sold? moved? my mortgage to freddie Mac when I had to refinace due to the sewer system “crapping” out.
Your comment about mortgage transfer fees is interesting but I think we already have one poster here who would challenge your statement quoted about.
ML/NJ
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