What the bank said they were selling
What they sold
What investors and mortgagees ended up with.
Posted on 10/09/2010 1:11:25 PM PDT by Chunga85
Now you getting it folks?
This is NOT a “minor clerical error.”
It is NOT correctable at this point in time.
These securities are FATALLY DEFECTIVE. The parties with the legal duty to check these facts did not do so.
It gets worse.
(Excerpt) Read more at 4closurefraud.org ...
Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
~ Polonius
What is the “Nothingburger” defense, how was it destroyed, and is there any content other than a rather shrill post about how bad a mess it is?
...Yeah....and some of the miscreants responsible need to take tea with Polonius....
Originally...
http://market-ticker.org/akcs-www?post=168629
This poster seems to have a history of shrill posts, most without content.
This is a repost from a Karl Denninger article:
http://market-ticker.org/akcs-www?post=168629
Read it and you’ll have an answer to your questions.
Perhaps a bit of cash on hand would help one survive the coming bank holiday’s.
Thank you. Reading the title of the post, I naively believed it was about a court defendant and a court ruling.
Man this is a mess. The titles on these properties are never going to be worth the paper upon which they are written. This could destroy the entire real estate system in America.
By securitizing large groups of mortgages,they have blurred the distinct line of ownership, thus the distinction of who may legally foreclose. Law of unintended consequences, etc...
Tell me about it I am 5 years into a mortgage that I originally got from Countrywide and is now in the hands of BOA and I have to think I will never truly own this house. Some Red Chinese General with paper is liable to show up and tell me to get OUT! I am truly considering my options and am not sure I will or even should pay another dime on the place until I am sure it's mine or will be.
LOL, you deadbeats crack me up.
You get the feeling that this is what this about for some: "Not all the paperwork was done just right when I bought that home I couldn't afford. Therefore, I should just to get to live in it forever without making payments."
Seriously ... get lawyered up ,, continue paying into an escrow account just in case and sue for quiet title.
I get the feeling that I am going to pay on my house for another 20 years and I won’t be able to sell it because I won’t be able to show its mine. Or maybe as has already happened to people (even some here of FR) some mortgage company I never heard of but who owns one of these sercurities will try and foreclose even though I have made my payments. Yeah I more than likely be able to beat tham as I have saved everything, but how much am I going to be out in legal fees? Guess that’s funny to some people, but then some people like laughing at other peoples troubles even troubles not of their own making.
“Seriously ... get lawyered up ,, continue paying into an escrow account just in case and sue for quiet title.”
But if I lawyered up wouldn’t that make me a dead beat? ;-)
Yeah I looking around seeing if I should get someone local or join a class action.
“The problems got solved but sure were a pain.”
So how do you think they will solve this? Seeing how most of the paper work was shreaded, they are sure who the sold it to and the transaction were never legally recorded?
Lastly how much is it going to cost me in legal fees to get the problems solved?
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