Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

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  • Sat, Oct 02, 2010 - 01:42pm

    #21
    Peak Prosperity Admin

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    Re: Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

From 2005 – 2008 MOST mortgages were put into MERS and not recorded as they needed to be with the courts. There is massive and pervasive fraud now being committed, this video was just one example. Many other fine blogs have additional examples. Examples of Squash orders such as this one, where a judge noticed the forged subpoena required during the foreclosure was before the original foreclosure and therefore a bogus false.

Your issue is you take the blame for this insanity and instead of letting land on the morons where it belong you deflect it to some moronic politician who delivers the news. The industry you work for and the Fed is 90% of our problem today. Blowing up the economy was unconscionable, having us pay for it was beyond unconscionable and living above the law because they are rich and powerful is ruining this country.

Also you might want to read this request for an investigation into the notary. We have notaries for a reason and it isn’t this!

And here is the Squash order, read the second paragraph about counterfeited documents.

  • Sat, Oct 02, 2010 - 02:33pm

    #22
    Peak Prosperity Admin

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    Re: Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

Faith in the system will not be restored until ALL of the people involved in this FRAUD are appropriately sanctioned. This applies to all levels from top to bottom. And by sanctioned I mean prison time for the worst offenders.

If this means that the banks that are/were involved in this FRAUD end of failing……. then  GOOD.

If this means that the people that worked at these banks, mortgage companies, loan companies, and other associated organizations are unemployed too bad. They received incomes for a long time based on the FRAUD that was committed by the people that they worked for.

The parasites that have destroyed this ecomomy need to be purged. This applies to the FED on down to the Notaries Public.

  • Sat, Oct 02, 2010 - 02:54pm

    #23
    Peak Prosperity Admin

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    Re: Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

All right; I’m chiming in with two examples of fraud I know about personally.

Back in NY, almost three years ago a dear friend with a perfect credit score went to buy a car. He was denied because “his houe was in foreclosure.” It seems that someone with almost the same legal name (different middle initial) had taken a mortgage out on his property and walked away. It went much deeper, the found, once the guy who made the fraudulent mortgage was caught ant turned states evidence. There were were a couple of people at the bank who were churning out such mortgages, complete with a fraudulent appaiser and lying notary. The guy who forged his name as my friend’s name was paid $500 and the only reason the ring was busted wide open was he did something stupid and got caught.

The other example was a friend who had a mortgage provider charge huge, unfair fees. This man appealed it via the mail, and just when he was about to get them to recind the charges it was sold to someone else, where the same thing happened with MORE fees. This second lended sold it back tothe first one, and the mortgage was lobbed back and forth until the guy put an end to it by refinancing with a new lender who promised to not sell the loan, in writing.

Mortgage fraud. Is it sytemic? Maybe not, but it exists.

  • Sat, Oct 02, 2010 - 03:12pm

    #24
    Peak Prosperity Admin

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    Re: Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

If you own a property in California and have refinanced or are thinking about it, you want to know this:

http://www.realestatescoop.net/?p=379

Governor Schwarzenegger vetoed SB 1178. SB 1178 would have ensured that homeowners keep the same “anti-deficiency” protections they have in the original loan after the loan has been refinanced. California’s anti-deficiency protection for “purchase money” mortgages says that if a homeowner defaults on a mortgage used to purchase his or her home, the homeowner’s liability on the mortgage is limited to the property itself. Current law doesn’t apply to loans used to refinance the original purchase debt, even if the refinance was only to gain a lower interest rate.

 

 

 

 

  • Sat, Oct 02, 2010 - 04:29pm

    #25
    Peak Prosperity Admin

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    Re: Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

Maybe it’s just me… but here’s my scorecard of what has transpired over the last several years:

1. Banks create loan programs that allow them to lend money to essentially anyone who can “Fog a Mirror” (making lots of money in Fees).

2. Banks securitize (slice & dice) massive amounts of these loans, selling them worldwide as “AAA” investments, when in reality, they are questionable… meaning the loans are destined to fail (all the while making lots of money in Fees).

3. Gleeful bankers reward themselves with massive “Bonuses” based on demand that they created with these Too Good To Be True loans.

4. When things (predictably) go sour, bankers demand massive tax-payer Bailouts.

5. As part of Bailouts, banks can sell “any type of trash”… er, I mean “loans” to the FED thereby passing their responsibilities for holding the bag of crap from themselves to the TaxPayers of America; additionally, bankers are given access to Free Money (1/4 of 1%) that they gleefully lend to consumers at 29.99%… I imagine they also use this “Cheap Money” to invest in the stock market for their own proprietary accounts.

All of the above was made possible by MERS… which is owned by the TBTF banks and our governments newest holdings, Fannie & Freddie and The FED… by my accounting, the bankers have been paid numerous times while playing this game…

Anyone who thinks this whole sorry episode hasn’t been planned out in advanced needs to have their head examined! There has been massive FRAUD from the beginning and is now showing up as the whole game is collaping around US.

And now, comes the Coup de Grace

Remember the Crash Course? Remember Frational Reserve Banking and How Money is Created???

The “Banksters” created ALL OF THIS MESS and NEVER had any money in the game to begin with… they created it all out of thin air!!!

Wait until Joe Six Pack finally figures it all out… it’s gonna be an interesting ride!

  • Sat, Oct 02, 2010 - 04:33pm

    #26
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    Re: Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

Saw this on Zerohedge.

For those that know my name there, you’re probably shocked at my rant on that thread. Yeah, it’s triple R rated. But when posters start detracting from the message and start slinging arrows at the messenger (Grayson) I realize why we’re in the mess that we’re in.

  • Sat, Oct 02, 2010 - 04:41pm

    #27
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    Re: Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

[quote=Morpheus]

Saw this on Zerohedge.

For those that know my name there, you’re probably shocked at my rant on that thread. Yeah, it’s triple R rated. But when posters start detracting from the message and start slinging arrows at the messenger (Grayson) I realize why we’re in the mess that we’re in.

[/quote]That is precisely it. I’ve written Grayson and personally called him an utter and absolute hypocrite moron who nurses one side of the Fed while mauling the other side. But I did use his video in my FSN write on this, and I put the disclaimer in that I can’t stand the guy.

The media rats have become corporate whore rats who have polarized this country.

Facts no longer matter unless the fact is delivered by someone some boobaling likes.

Boobalings should really stick to CNBS’s blogs.

  • Sat, Oct 02, 2010 - 05:03pm

    #28
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    Re: Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

The problem is with the electronic MERS database and has been known for years. The database facillitated the construction of derivatives (MBS) but is not a legal method for transfer of title. Consequently it is practically impossible for the banks to establish legal title and the only way to repossess non-performing assets is to resort to fraud. Anyone with that type of mortgage and competent lawyer can tell the bank to prove title, otherwise its their home by possession (in most States). A fine mess indeed! 

  • Sat, Oct 02, 2010 - 05:19pm

    #29
    Peak Prosperity Admin

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    Re: Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

[quote=Morpheus]

Saw this on Zerohedge.

For those that know my name there, you’re probably shocked at my rant on that thread. Yeah, it’s triple R rated. But when posters start detracting from the message and start slinging arrows at the messenger (Grayson) I realize why we’re in the mess that we’re in.

[/quote]

Hi Morph,

I do know your ZHedge alter-ego. And I agree. Lots of people really missing the bigger picture on this one to fight amongst themselves. The banks must love it.

  • Sat, Oct 02, 2010 - 06:58pm

    #30
    Peak Prosperity Admin

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    Re: Must Watch Video, MASSIVE Mortgage Fraud in Foreclosure

[quote=TimesAwasting]

Maybe it’s just me… but here’s my scorecard of what has transpired over the last several years:

1. Banks create loan programs that allow them to lend money to essentially anyone who can “Fog a Mirror” (making lots of money in Fees).

2. Banks securitize (slice & dice) massive amounts of these loans, selling them worldwide as “AAA” investments, when in reality, they are questionable… meaning the loans are destined to fail (all the while making lots of money in Fees).

3. Gleeful bankers reward themselves with massive “Bonuses” based on demand that they created with these Too Good To Be True loans.

4. When things (predictably) go sour, bankers demand massive tax-payer Bailouts.

5. As part of Bailouts, banks can sell “any type of trash”… er, I mean “loans” to the FED thereby passing their responsibilities for holding the bag of crap from themselves to the TaxPayers of America; additionally, bankers are given access to Free Money (1/4 of 1%) that they gleefully lend to consumers at 29.99%… I imagine they also use this “Cheap Money” to invest in the stock market for their own proprietary accounts.

All of the above was made possible by MERS… which is owned by the TBTF banks and our governments newest holdings, Fannie & Freddie and The FED… by my accounting, the bankers have been paid numerous times while playing this game…

Anyone who thinks this whole sorry episode hasn’t been planned out in advanced needs to have their head examined! There has been massive FRAUD from the beginning and is now showing up as the whole game is collaping around US.

And now, comes the Coup de Grace

Remember the Crash Course? Remember Frational Reserve Banking and How Money is Created???

The “Banksters” created ALL OF THIS MESS and NEVER had any money in the game to begin with… they created it all out of thin air!!!

Wait until Joe Six Pack finally figures it all out… it’s gonna be an interesting ride!

[/quote]

Nice summary, but if Joe Six Pack hasn’t figured it out by now, then…

We’re all just spinning our wheels.

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