Posted on 10/15/2010 1:30:29 PM PDT by triumphant values
Good, because I'm posting from a Lincoln Park Victorian after 12 years on the CBOT and I didn't consider this internet filler at all.
Um... yes, that would kind of be the point.
I don’t get why people are complaining. What the banks are doing ISN’T LEGAL. To then turn around and say, “Hey, that can’t really happen, it’s illegal” is... well, I’ll be kind and simply say a little short-sighted.
The article breaks down exactly how people who paid for their homes in cash were evicted on the basis of fraudulent documents. The fact that they eventually won their homes back should tell you what’s about to happen to all of the foreclosures that rely upon documents made by companies like DOCX, which are virtually all of them, because all of the banks have been using MERS. Like the letter to the Florida Supreme Court referenced in the article said, it was standard industry practice for ten years to destroy the documents. Over half of all mortgages are listed on MERS. What do you think will happen when judges start questioning the documents used to foreclose?
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