Posted on 09/29/2010 2:00:33 PM PDT by Neidermeyer
**** CNBC breaking news , JP Morgan has announced that they have the same problem with their foreclosure processing as GMAC announced recently.. namely that their paperwork is done "assembly line" style and that the sworn affirmations on the docs mean absolutely nothing as the signers have no direct knowledge of the accounts they are signing off on... Fraud on the courts quite literally a million times over.. ****
People if you're buying ANY real property that has been bought or sold any time in the prior 15 years PLEASE PLEASE buy a title insurance police with YOU as the beneficiary,, the title insurance you normally buy in a closing package pays off the bank , not you.. a second police on you is dirt cheap as they have already charged you for the research behind it..
Very good advice.
PING!!
oops , “police” = “policy”
This is a very good tactic in this day and age.
The first case where someone loses their home because the repo by the bank was based upon fraudulent information is going to blow sky-high.
All I can say is: “About time.” We’ve known for two years that the banks are lying sacks of crap.
Finally the court system is demanding they show proof they actually hold the note, and that the paperwork has been done correctly.
JP Morgan needs to address their image problem with a new name..something warm and friendly. How about “ALLY”? Oooops already taken. I just read on the JPMorgan finance board someone joked they used a Chase “Saphire” card to short JPM stock! Once the swamp is drained we’ll get to the heart of the matter!!
Why all the “sloppy paperwork”??? Ha ha! We got hosed!
Work crews haul off waterlogged belongings of disabled veteran evicted from Rocky Point house
Ice Legal, the firm that depo'd GMAC robo-signor causing them to halt foreclosures in 23 states has taken his case Pro Bono.
“I got lambasted as “anti-business” or something for posting about the Vietnam Vet who got flung in the streets by foreclosure mill thugs a while ago.”
Lots of folks here think that if you lose your home you’re a bum. Lots of people here used to think that gold was crap. Lots of people here think the Republicans are conservative. :)
A sliver of America is waking up and are preparing to board The Dartmouth, Eleanor, and Beaver once again.
bttt
No.
But a lot of people would be happy to not pay their loan off, and blame someone else for their poor decisions.
And course we will all pay for it.
Someone who loses a job, gets sick, etc is one thing.
But those who are underwater and choose not to keep making payments is another thing entirely.
As Rick Santelli said a couple of years ago, who wants to pay their neighbors mortgage?
I don't.
bad papers mean undenforcable mortgages mean dismissal with prejudice.
Even if you proudly pay double these alleged “lenders” have already used your mortgage instrument to profit well beyond the stated amount agreed to at the table. What you signed at that table actually means nothing. Once YOUR loan (I’m assuming you have one for the sake of discussion) was securitized the terms then become defined by the Pooling and Servicing Agreement of the trust or trusts it landed in. Go ahead and try to find your PSA. Call your alleged “lender” and ask them about it. Until recently you couldn’t even pry it out of them in court. ICE Legal did and look what happened. GMAC, JPMorgan, suddenly realized they mixed up some papers? Baloney. Let’s see who’s next.
As it stands now they make even more if you don’t pay. The reason for this is: Credit Default Swaps were purchased using the fluff created by the alleged “lender’s” agent, the property appraiser. The “collateral” was insured multiple times at the outcome based phony value primarily by AIG and we know what happened to them. Does Santelli mind paying AIG’s Credit Default Swap Flops? Do you? That is a significantly larger sum of $$$ than your neighbors mortgage.
I hear the screaming and yelling about property taxes being so high. MERS was the brainchild of this consortium of alleged “lenders” to skip out on paying the legally requires doc stamps and recording fees to YOUR state’s tax coffers but that is a whole ‘nother story.
In 1773 not everyone was in the Sam Adams camp when the real tea party took place in Boston Harbor.
No, I am bound by the note and mortgage that I signed. The terms of a mortgage backed loan cannot be changed.
It can be sold, but terms cannot be changed.
Ask your servicer how you payments are applied and see if they fit within GAAP.
Foreclosure Defense: What You Need To Know (2/ 2)
If you could make it through that one...here is another video by Neil Garfied that explains The Assignment and Assumption Agreement.
Part 1: The Assignment & Assumption Agreement
Dreary huh?
If you made it through THAT one you deserve a break by listening to Merle Haggard's Favorite singer - Iris Dement - The Voice of an Angel!
http://www.nytimes.com/2010/09/30/business/30mortgage.html
You’re living in the 1980’s ,, the note you signed (between 1998 and 2007/08) was 96% of the time fraudulent in that the true counterparty was never named on the doc and the actual cash money lender is not bound by the doc but by a seperate agreement to which you are not a party and never were a party.
The exception being if your note was through a small hometown bank that actually funded their own loans.
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