Tuesday, October 26, 2010

Everyone is afraid of the truth about foreclosure gate

So few people are seeing through the line that everything is ok and that signing documents illegally and committing fraud is ok as long as it is going to bring about a more speedy recovery. 
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Well breaking the law has not worked for the anyone and the recovery seems to be a long way off in the distance.  The actual fraud by the banks is now causing a slower recovery because it was allowed to go on for 3 years while the banks got the house in order.  They bilked the tax payer to remain solvent, granted they were solvent only because of accounting rule changes misconception that mortgages would bounce back 100% to previous levels within 2 years. 

Didn't happen!  The lowest interest rates in years did little to help the banks so they were allowed to play pretend owner so they could foreclose.  It seems to me that not only are the title companies involved in this but the local municipalities have gone along with the process as well. 

I question how else could all of the documents be changed into Mers when no evidence of ownership was actually produced by the banks?   Someone had to let it go with a wink and a nod or at least by just neglecting the facts. 
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I always assumed proof of ownership was the most important item when making changes to the title chain or assigning notes to the trust? 

Ping the lawyers all you want but if they weren't digging into this, it is likely there would be no checks and balances to what the banks are allowed to do in the name of recovery. 

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