Homeowners fight illegal foreclosure - The Park Record
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#1 Jun 28, 2011
Prosecuting Wall Street investment banks and their âgeniusesâ is not only a matter of democracy, but more importantly, it is about survival of America that we all loveâ¦and the only path for our kidsâ future.
How did we become just one big hypnotized mass, even after the truth has been revealed? We're walking around as if we're mesmerized, not standing up, not demanding justice, still paying our mortgages to lenders who don't even legally own them...
Please read about MA Register of Deeds â John OâBrien - the first register in the nation to say NO to fraud, MERS, robosigning - a real peopleâs hero: http://tinyurl.com/3qsu87x
#2 Jun 29, 2011
One of the answers to your question of 'how did we become just one big hypnotized mass' is within your post. Somewhere along the line, Americans forgot or were not taught that our country is NOT a Democracy. It is a Federal Republic. The difference is perhaps minute, but the behavior associated with each certainly is not. Democracy is government by mob or by 'one big hypnotized mass.'
Learn our history and help us restore our country. Our laws were supposed to help the people, entrepreneurs, and small business. Now they only help Unions, big corporations, lawyers, ne'er-do-wells, and politicians.
Read the 10th Amendment and hold the Federal Government accountable and get them out of our state and people's business.
'The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.'
#3 Jun 29, 2011
Lenders are avoiding foreclosing, in part because they are carrying these mortgages on their books as valuable assets, they don't want to take the writedown because all the big banks are already insolvent and don't want to become more insolvent. It's just accounting gimmicks. Some homeowners have been living in their home without paying the mortgage for over 3 years (just be sure to pay the property tax).
In New York State, it would take lenders 62 years at their current pace, the longest time frame in the nation, to repossess the 213,000 houses now in severe default or foreclosure, according to calculations by LPS Applied Analytics, a prominent real estate data firm.
Clearing the pipeline in New Jersey,... would take 49 years. In Florida, Massachusetts and Illinois, it would take a decade.
I you're in trouble, find out who has the title. Ask your lender for the original "wet ink" contract. 60% of all mortgages have been securitized, and sold to other parties and nobody really knows who's able to foreclose.
We need to beat the banks, they've been beating you for years. Unfortunately, the Federal Gov. is in bed with them and gives them anything they need to stay afloat. They have to go too.
The posters Senka and Answer above are absolutely correct.
Saint Augustine, FL
#4 Jun 29, 2011
The posters above are symptomatic of the current decline of morality prevalent in so many in our country today. "Screw the bank" is the watchword of those who live their life to win the lottery. Go out and borrow more money than you can ever hope to repay and blame the big, bad, mean old bank for making you the loan in the first place. I do hope to live long enough to see the banks go back and prosecute all those who falsified their income and investment data on the "stated income" loan applications so popular in the mid 2000's. How does 10 years in Marion, Illinois grab you for mortgage fraud?
#5 Jun 29, 2011
You are wrong, disgusted. The 3 of us that posted comments probably thought like you a year or so ago. In the interim, so much has come to light regarding quantitative easing, TARP, the FED, Big Banks and the collusion that appears to be present, that truly informed conservatives and libertarians are realizing that we have been had.
I can't speak for the other 2, but I have had enough. If the definition of sanity is doing the same thing over and over, yet expecting a different result, then most of our country (including you, apparently) is insane.
I would invite you to delve into this, research what happened between our politicians, the big banks, and Wall Street with respect to real estate. You might then understand that this is a righteous fight, not an ethical lapse.
Screw the bank? hardly. Big banks and the Fed are the ones with that mindset....they are driving all of the small banks and Credit Unions out of business with their lobbying $ and politicians they have bought.
Save the local banks, which are the cornerstones of our local economies - SCREW the manipulators.
Things are not as they were...take nothing at face value, question and research.
#6 Jun 29, 2011
Christian; I am still in a holding patern but at 80 years old I can't wait much longer. Ron Moss
#8 Jun 29, 2011
Whomever wrote this should do spell checker before publishing it!
#10 Jun 30, 2011
The big banks were giving loans to anyone with a pulse, lending standards thrown out the window, driving real estate prices to the stratosphere and then selling the loans as mortgage backed securities so that they could continue making more loans. It was very lucrative. Many of the big banks were leveraged 40-1 through this mechanism. All for short term gains and at the expense of the over all well being of our economy and real estate market.
The people were just playing the game as best they could (I did not play the game). While I agree that many people bought homes they really couldn't afford and I don't have much sympathy for them, many innocents are also being hurt by this, we all are. Meanwhile as millions (maybe up to 20 million) total lose their homes and lose their jobs in the economic downturn caused by this, the bankers are showing record profits and giving themselves record bonuses. We now have 44 million people in this country on food stamps. The recklessness of the banks affects us all but the Federal government gives them anything they want. Campaign contributions anyone? The Fed holding interest rates at near zero is another hand-out to the criminals. They are able to borrow at near zero, then buy treasuries at ~3%. They also use it for all manner of speculation in the markets/commodities, driving up the cost of everything for average joe.
This is moral hazard, any problem with the banks, we pay for. They have no incentive to behave responsibly because they are not held responsible. All profits are privatized, all losses are socialized.(That means you're paying for the sins of the banks if you're a taxpayer.)
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