Push to halt foreclosures gains steam (Stop paying your mortgages, FREE HOUSING FOR ALL!)

cnn ^ | 10/5/2010 | staff

[tobyhill]

Pressure is mounting on U.S. banks to halt more foreclosures amid widespread allegations that loan servicers failed to verify legal documents in what could be hundreds of thousands of cases.

Members of Congress from California wrote to the heads of the Justice Department, the Federal Reserve, and the Comptroller of the Currency on Tuesday, requesting that they investigate the foreclosure processes of banks under their purview for "possible violations of law or regulations."

[mplsconservative]

Thank you for the explanation, though it makes me sick to my stomach. :( The housing market won’t recover for years and years. It’s truly frightening.

[tobyhill]

So? I can give you at least 10 million examples of where process servers did their jobs right.

Are you working for this law firm?

[Chunga85]

"Are you working for this law firm?"

No.

Do you work for DocX or a foreclosure mill?

[tobyhill]

Was your home foreclosed on?

I guarantee with the amount of process in place 99.999% of houses that got foreclosed was a proper foreclosure.

Since I'm the “dumb” one, what would you propose to do with the “real deadbeats” that will just continue to live in a house free of charge and continue to trash the place knowing that eventually they won't be there?

As a taxpayer and non-banker/non-Wall Streeter, I want the “real deadbeats” out of the neighborhood ASAP because it's making me feel bad that I continue to pay my mortgage on time and they don't.

[rintense]

Halt all foreclosures and let people pay what they can afford.

Yeah, that's been tried. It's called government housing and welfare. How's that working out for ya?

[rintense]

I like that idea. Null and Void all contracts and reenter them reading “pay only what you can afford”.

In the meantime, entitlement Joe is living in a McMansion, paying 'what he can afford' while driving around a new BMW, kids wearing $150 sneakers, and 56" LED tvs in the home.

Got any better ideas?

[tobyhill]

I understand that there was a bunch of fraud going on in getting people more house than they could afford but it took two to tango.

We are the investors in the banks now and I want my houses back from the ones that didn't need to be there in the first place.

This crisis started with the banks and people who bit off more than they could choose but to stop the process from sorting itself out, as in foreclosures, will prolong the hurt and reward those not worthy.

[tobyhill]

Yea, we'll throw in free weatherstripping.

[rintense]

How about some government cheese too?

[TruthConquers]

Are you a shill, or just unaware of the massive fraud that the banks made with “Mortgage Backed Securities”???

Here is the story:

Banks are making loans because CONgress wants them to help poor people to own homes. BUT, those loans aren’t safe.

What to do?

I know, lets slice and dice those loans and call it “insurance” AND we will make mucho bucks selling these things. Yep. Great idea.

And lets put up an electronic data base called MERS so that we can sell these mortgages all day long. Even make up fraudulent mortgages to keep those bonuses coming.

UNTIL... 2008 and gas is over $4.00 a gallon. opps! The people who are barely making it, can’t pay any more. They would rather eat than pay that mortgage.

Guess what?? These bozos NEVER had a default model in their fancy MBS’s that had a default rate higher than 2%.

NOW, all those MBS’s are WORTHLESS!!! 10 cents on the dollar if they are lucky.

Enter the fraud. Massive fraud.

WE DON’T KNOW HOW MANY FRAUDULENT MORTGAGES ARE OUT THERE.

MERS HAS BEEN DECLARED ILLEGAL FOR FORCLOSURES.

THE WHOLE NATION IS AT RISK!!!!

This is not about a few mistakes. I believe my own home’s title is unclear, yet we are still paying. Some idiot made money who knows how many times selling OUR mortgage, and WE DON’T HAVE CLEAR TITLE. WTF!!!!!

And our loan was back in 2001. We are NOT deadbeats, and we have ALREADY been screwed by this.

Wake up.

[TruthConquers]

“This crisis started with the banks and people who bit off more than they could choose but to stop the process from sorting itself out, as in foreclosures, will prolong the hurt and reward those not worthy.”

So, does that include the BANKS????

Did you know that they are INSOLVENT????? DID YOU????

They should be allowed TO FAIL not to continue FRAUD!!!!

[tobyhill]

I know a lot of people here on FR think that stopping foreclosures is ok but this gives incentive to deadbeats to continue being deadbeats.
If a deadbeat's mortgage is $2000 a month and the banks stop foreclosures for 6 months then the process takes another 2 months that's $16,000 that the deadbeat got that I didn't.

[tobyhill]

That was a joke.

[tobyhill]

As a taxpayer that helped bailout the banks, it would be better if the banks would take back the houses from the ones that didn't pay their bills and try to sell them rather than continuing to let the deadbeats sit it out.

The big Obama supporting banks are not going to fail because our politicians aren't going to let them fail.

[TruthConquers]

wow

You must either be a shill, or someone who is so eaten up with envy by the ‘deadbeats’ on your street, you can’t think straight.

Think about it. With Title Insurance companies REFUSING TO INSURE FORECLOSED HOMES BECAUSE TITLE IS UNCLEAR, who in the right mind will BUY these homes???

This ISN’T about ‘letting’ deadbeats stay in their homes.

This is about the banks COMMITTING MASIVE PERVASIVE FRAUD. You see, without the NOTE, they have NO RIGHT TO FORECLOSE. Tons and Tons of mortgages DON’T HAVE CLEAR TITLE.

Try it this way. You take out a $100 bill from the bank. You go and make a copy of it. THEN, you lose the real bill. Golly gee, what to do? But, hay, lookie here! I have a copy!!!

Will the bank give you a new $100 bill, after you show then a copy of the bill, just because you lost it??? Will they???

No. They won’t. And neither should they get HOMES, when THEY LOST THEIR TITLE!!!!!!!!

I hope that helps.

I am sure it is very hard to keep paying when yahoo’s on your street brag about not paying theirs. Must be tough. In fact, no one knows how this will play out. I’m afraid the real problem will be solved by letting the government own all of our mortgages. They took over all student loans. What is to stop them once this fraud is more exposed??

This has gotten bigger than just a bunch of deadbeats.
Much, much bigger.

[TruthConquers]

Here’s an update for you:

Florida Notary Fraud Erin Cullaro – Scandalous – Substantiated Allegations of Foreclosure Fraud That Implicates the Florida Attorney Generals Office and The Florida Default Law

Grouphttp://www.zerohedge.com/article/florida-notary-fraud-erin-cullaro-%E2%80%93-scandalous-%E2%80%93-substantiated-allegations-foreclosure-fraud

[tobyhill]

Actually I'm neither. I am a taxpayer who has seen way too much of this welfare state and every time something like this happens it's the welfare mooches that come out ahead.

No one from any bank will be going to jail, regardless what crime they commit, because no one in this administration will prosecute.

This problem didn't start yesterday and the problem will not go away until the deadbeats go away.

Now the banks are telling us how they are going forward yet they still haven't straightened up the mess they left behind. Putting foreclosures on hold will not cure the mess and redigging the hole will not help either.

These stopped foreclosures aren't about the bank's fraud, it's about letting deadbeats stay in the houses longer. With the amount of time this fraud has been occurring why is it just now it's become a pressing issue?

http://www.jpmorganchase.com/corporate/About-JPMC/the-way-forward.htm

“We help provide affordable housing for low- and moderate-income families through new construction or building rehab loans.”

[tobyhill]

Almost forgot to add.

“At JPMorgan Chase, we're reaching out to help struggling Chase mortgage customers stay in their homes.”

[taxtruth]

I guarantee you you are very clueless at what lawyers and bankers are trying to pull off without documents for even people that own their own homes free and clear.

[longtermmemmory]

No this is about FOLLOWING THE LAW, the banks had and ARE skirting the law. They have no LEGAL way to establish status.