Oh but they are. The folks doing the foreclosing can't actually prove in many cases that they're actuall, legally owed the money. They can't produce either the Title Deed or the Promissory note.
To paraphrase our knuckle head Vice President, that's a big f****** deal.
It’s a paperwork short cut that should never have been made but I’m not seeing fraud...
Dude, swearing to a document one knows to be false is a Fraud upon the Court and it's a crime. You can look that up.
We need to be able to foreclose in an efficient manner to allow for any type of recovery in the housing market.
And just screw a hundred years of well settled Law in the process. Is that what you're recommending? You want to let these Wall Street thieves to get away with it?
As a taxpayer I am unwilling to allow delinquent homeowners to squat on my dime.
Too late for that I'm afraid. We're all about to take a royal screwing for this. Before it's over I have a feeling folks are going to be hunting Dems with dogs over this.
“Oh but they are. The folks doing the foreclosing can’t actually prove in many cases that they’re actuall, legally owed the money. They can’t produce either the Title Deed or the Promissory note.”
They can’t prove it in court due to clerical errors. We do know in reality using common sense. I agree it’s a big deal. Perhaps the biggest deal going right now. I just don’t think it should be and if there was ever a time where ignoring 100 years of settled law actually resulted in justice, this would be it. As for hunting Dems with dogs, you my friend are being overly optimistic (not the right choice of word there), this will all be laid at Bush’s and conservative’s feet I fear.
Last word from me..this has nothing to do with the ‘Wall Street thieves’ so much as paperwork and process. What is the crime? These homes should be foreclosed on if the occupants can’t sustain their payments. The document systems today in this regard are woefully inadequate and I can see how this got out of hand but it was not a case of them stealing from anybody but themselves. They can’t prove which of the financiers actually holds the Title but we do know it’s not the foreclosed homeowner ‘victim’.