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Push to halt foreclosures gains steam (Stop paying your mortgages, FREE HOUSING FOR ALL!)
cnn ^ | 10/5/2010 | staff

Posted on 10/05/2010 3:51:19 PM PDT by 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."

(Excerpt) Read more at money.cnn.com ...


TOPICS: Extended News; News/Current Events
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To: tobyhill

these are not mere scrivner mistakes.

Banks are creating documents from thin air, falsifying chain of custody.


81 posted on 10/05/2010 8:25:41 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: SC_Pete

every promissory note that was sold is a problem.


82 posted on 10/05/2010 8:43:44 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: tobyhill

Sigh.

So, you’re going to believe what a bunch of frauds write in their propaganda???

wow


83 posted on 10/05/2010 8:57:09 PM PDT by TruthConquers (Delendae sunt publicae scholae)
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To: XEHRpa

you forgot the robosigner. ( a printer that uses a ball point pen) and the fact that non-retired judges are in a panic that this fraud crisis is going to clog their dockets. So they bring in retired judges who are too senile and know the marching order to clear the dockets so the old judges rubber stamp for the banks.

Justice denied.


84 posted on 10/05/2010 9:07:29 PM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: tobyhill
I guarantee with the amount of process in place 99.999% of houses that got foreclosed was a proper foreclosure.

I agree and base this on 25+ years in the business. Banks are not the bad guys here. Are the borrowers claiming they never got the hundreds of thousands of dollars they borrowed? Are they claiming they've made all the agreed upon payments? Are they now claiming they were too stupid to understand the mortgage they applied for and agreed to repay?

The borrowers are waiting for the gov't (taxpayers) to bail them out.

Don't any of the Bank bashers on this thread believe in the sanctity of a contract - freely entered into by both parties?

85 posted on 10/05/2010 9:10:06 PM PDT by mcenedo (lying liberal media - our most dangerous and powerful enemy)
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To: mcenedo

“Don’t any of the Bank bashers on this thread believe in the sanctity of a contract - freely entered into by both parties?”

Sanctity of the contract???

When the banks don’t have title???

HOW is that sanctity of the contract when their is NO PROOF OF COLLATREAL????

UH????

must I bash in heads to get this to sink in?


86 posted on 10/05/2010 9:25:25 PM PDT by TruthConquers (Delendae sunt publicae scholae)
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To: mcenedo; tobyhill

http://www.zerohedge.com/article/foreclosure-mess-mbs-hate-triangle-emerges-junior-versus-senior-bondholders-versus-servicers

http://www.zerohedge.com/article/massive-mortgage-mess-update-title-companies-stop-insuring-foreclosed-properties

http://www.zerohedge.com/article/bank-america-joins-jpmorgan-and-ally-admitting-it-never-validated-foreclosures-docs

http://www.zerohedge.com/article/biggest-german-state-owned-lender-just-sued-goldman-sachs-over-davis-square-cdo

http://www.zerohedge.com/article/here-they-come-thousands-jpmorgan-home-foreclosures-doubt-after-perjurious-firm-exec-confirm

http://www.zerohedge.com/article/gmac-mortgage-proudly-executing-10000-fake-documents-month

http://www.zerohedge.com/article/foreclosure-fraud-lender-processing-services%E2%80%99-docx-document-fabrication-price-sheet

http://www.zerohedge.com/article/are-250000-foreclosure-sales-q2-about-be-reversed

Yeah, right.

The banks are honest hard working frauds making sure they can screw you out of your house. Yeah, let’s trust them AND the government, they are our friends, don’t you know?

The banks are our friends .../s


87 posted on 10/05/2010 9:41:47 PM PDT by TruthConquers (Delendae sunt publicae scholae)
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To: TruthConquers
Headlines on Nov 1, “Record drop in foreclosures under Obama and Democrats”.

Mark my words, this halt in foreclosures is nothing but Obama Banks lending a hand.

88 posted on 10/06/2010 3:15:39 AM PDT by tobyhill
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To: taxtruth
Actually I worked for a repo company that contracted with a lot of different banks and of the hundreds of times I heard “but I made my payments” I recall 2 cases where they did make their payments but somehow it didn't get posted to the account.
89 posted on 10/06/2010 3:32:20 AM PDT by tobyhill
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To: TruthConquers
There is a huge propaganda campaign going on (funded by these alleged lenders) for the purpose of causing us to argue amongst ourselves over non-issues.

Let's set all the tobyhills aside and recognize the elephant sitting in the room.

WHO do we vote for come election day?

Anyone out there who has paid off their mortgage in full - please check and see if you received your actual "Satisfaction of Mortgage" document. Not a copy but the actual document.

If you do not have that document in your possession your mortgage obligation could very well be deeply hidden and still flying around on Wall Street.

This is not about "deadbeats" and any equitable solution should include everyone (not just those in default) whose mortgage obligation has been used as a vehicle for unjust enrichment through fraud should be compensated by those committing the fraud.

There's our stimulus package! Retrieve the stolen money.

Further, any and all monies in the form of recording fees and doc stamps owed by "deadbeat" alleged lenders who used MERS to obfuscate clear chain of title and avoid these fees should be forced to pay with interest.

MERS® Servicer Identification System

You can query using your name, address, social, etc.

90 posted on 10/06/2010 4:27:46 AM PDT by Chunga85 ("Foreclosure Fraud", TARP, "Mortgage Crisis", Bailout)
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To: Chunga85
I don't work for any bank, I just don't think the reasons for the halt in foreclosures is for the reasons you think.

The problem you mention, shortcuts in the process mandated by regulations, is the result of the deadbeat borrowers and shady bank lendings.

My strict belief is, don't pay the note, lose the home.

91 posted on 10/06/2010 4:46:22 AM PDT by tobyhill
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To: tobyhill
"My strict belief is, don't pay the note, lose the home."

Noted..and I respect your right to hold that opinion.

92 posted on 10/06/2010 4:58:40 AM PDT by Chunga85 ("Foreclosure Fraud", TARP, "Mortgage Crisis", Bailout)
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To: Chunga85

and as I noted in previous post, if any bankers are proved to have violated the laws then they should be prosecuted.


93 posted on 10/06/2010 5:16:13 AM PDT by tobyhill
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To: longtermmemmory

Yes, but who’s holding the bag? The banks.


94 posted on 10/06/2010 6:05:15 AM PDT by SC_Pete
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To: SC_Pete

the banks were ALREADY bailed out and have recieved money for their alleged claims on the promissory notes.

there is no way to prove who actually has standing as a plaintiff. It is no longer “don’t pay, don’t keep”. We are in “no proof, no claim” territory.

we have already paid as taxpayers and have mortgaged our great, great, great grandchildren for Obama’s anger.


95 posted on 10/06/2010 8:23:54 AM PDT by longtermmemmory (VOTE! http://www.senate.gov and http://www.house.gov)
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To: longtermmemmory

And it’s going to happen again. The banks still have not marked to market all those bad loans. They are carrying billions in worthless debt as assets. We face another financial collapse if they all had to face the music. The Feds will bail them out again.


96 posted on 10/06/2010 11:16:01 AM PDT by SC_Pete
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To: TennesseeProfessor
But really it’s no big surprise to me that the large banks are so badly screwing up the foreclosure process. They are led by the identical people who so badly screwed up two years ago. Guess they are too big to fail and need more money to pay for their bonuses....

These people need to be strung up....seriously.

97 posted on 10/06/2010 11:20:00 AM PDT by dfwgator (Texas Rangers - AL West Champions)
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To: Chunga85

Yeah, I have tried the MERS database link.

I can’t find our mortgage listed there, but I know something is seriously wrong with our mortgage.

We only re-financed to lower our interest rates. And we put 20% down. But, we got a letter from Fannie saying that Bank of America now owns our loan, and make our payments to CitiMortgage. But we where already making payments to Citimortgage. Uh??? So we call. Turns out that when we originally were told to make our payments to Citimortgage, we were owned by Fannie, back in 2007. But this new letter had been sent this spring, 2010!!!! From Fannie! And then Fannie tells us to ignore the letter, the loan number is bogus and Fannie owns our loan. WTF????

And we get letters begging us to refinance from both CitiMortgage and BofA. CitiMortgage actually called us wanting to know why we didn’t refinance. We won’t be doing that. I don’t trust them.

We keep paying, but something is wrong.

As to your question, “WHO do we vote for come election day?”
I don’t truly know anymore. I voted third party last election. I live in California. I have become thoroughly skeptical about any real fundamental changes in this country, except maybe there will be a police state. Shudder.

Too many people with their heads in the sand.


98 posted on 10/06/2010 5:14:49 PM PDT by TruthConquers (Delendae sunt publicae scholae)
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To: TruthConquers
Send them a QWR and debt validation letter and cc OCC and SEC.

Our banker shills here on FR know what they are and they hate them.

99 posted on 10/06/2010 7:07:36 PM PDT by Chunga85 ("Foreclosure Fraud", TARP, "Mortgage Crisis", Bailout)
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To: Chunga85

I will look into that, thanks!


100 posted on 10/06/2010 7:18:23 PM PDT by TruthConquers (Delendae sunt publicae scholae)
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