those who took out mortgages still owe what they borrowed
One of the goals of the Marxists is to invalidate contract law. Credit will then become unavailable.
This bears repeating:
Unless those foreclosed upon can prove that they were in compliance with the major terms of the mortgage...including all the repayments terms...they should not get the houses back or any other form of compensation.
those who took out mortgages still owe what they borrowed
Of course, assuming the real owner can be determined. These lenders thought they were above the law. A very small percentage are being held to it. The lender rights the contract, if they don’t like the results, it’s their own fault. Now if only actual people who committed fraud in the robo signing scandal would actually do real time.
those who took out mortgages still owe what they borrowed
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YES , but to whom? There is no record of any sale or transfer ,, some mortgages have been traced to having been sold over 600 times (not a typo).
fraud in the factum.
If the transaction was born in fraud it is void not just voidable.
the apraisal was knowingly manipulated in order to induce fraud in the application process.
If the house was valued properly, would consideration to the promissory note resale profit, then the price would have been lower.
Remember the product was NOT the real estate, the product was the paper. The land and buyer were mere collateral damage.