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EDITOR’S COMMENT: The Obama administration is functioning out of fear instead of proactively getting involved in the solution to the largest economic and societal threat this country has faced since the civil war. He is right when he talks about income and wealth inequality but apparently blind to the how we got there. The spin is that we got to this point because of normal fluctuations, cycles and excess “exuberance” in the marketplace and that eventually it will all work out.While appealing, this is dead wrong.

The notion that Wall Street didn’t break any laws is absurd. And the failure to enforce existing laws is what is driving the anger of the public over our current economic condition as well as dumbing down any prospects we might have for recovery. The broken laws and lack of enforcement are the sustaining cause of our current problems.

State Attorney Generals are getting it — that there was outright fraud, securities violation, tax evasion and fraudulent filings for disclosure at local, state and Federal levels.But they are limited by Federal officials taking the position that the “paperwork” problems in foreclosures is something that needs to be straightened out — rather than recognizing that banks have been doing this paperwork for hundreds of years and if it is all screwed up it is because the Banks want it that way. The result is a corrupted real estate registry in all 50 states and corrupted financial system all backed up by a corrupt government.

It is true that derivatives were effectively deregulated in 1998. But the fraud at the closing table with the homeowners and the fraud at the closing table with investors are facts, not theory. The Wall Street spin takes nothing away from the fact that lies were told that were intended to create reliance on facts that didn’t exist and that the liars knew the lies were lies and knew that anyone who did business with them would lose money while the liars on Wall Street were  making money hand over fist stealing what was intended as “investment” money from both institutional investors on one hand and feckless borrowers on the other.

There is no scenario under which the average individual could perform the same acts without getting free room and board at state and federal expense — in prison. The prison lobby should be all over this, with all their privatized prisons and profits. Here is a large population of potential inmates. By this point in the savings and loan scandal of the 1980’s there were already more than 800 people in jail — and this fraud is hundreds of times larger.

As pointed out by Smith, this is a target rich environment involving Wall Street banks, appraisers, rating agencies, real estate brokers, closing agents, title agents, auditors for public companies and others who intentionally disregarded their duties and who knowingly broke the laws resulting in the filing of millions of fraudulent documents to foreclose on property that they would abandon as soon as they had squeezed the last ounce of “fees” out of the deal.

The reason enforcement and economic recovery are so integrally related is that in any case of fraud, the aim is to get as much restitution to the victims as possible thus righting the wrong. The obvious legal and pragmatic solution to the foreclosure crisis is to allow anyone who has a chance of paying anything reasonable toward the house to remain there. Everyone knows it. The obvious legal and pragmatic solution to the foreclosures that are “in the pipeline” ready to depress market prices even further is to take them away from the banks who stole them and do something else with them, which include giving them back to the owners who lost them in wrongful foreclosures.

When someone is tricked out of their money, like in the Madoff situation or dozens of others you hear less about, the government steps in and gets as much money and property back as possible to the victims. Why not now? why is there no recognition that our credibility as a nation in the world markets and on the world stage of politics depends upon us adhering to the fundamental principle that we are a nation of laws and not men. Every step we take away from restitution to the homeowners and the investors who put up the money is a step away from a nation of laws, towards a nation of men, which inevitably leads to absolute power and absolute corruption.


While quite a few bloggers, prosecutors, economists, and other experts have taken the Administration to task on mortgage-related abuses, the mainstream media for the most part has not seriously challenged the mind-numbing Obama claim that the banksters did nothing illegal.

Reuters refreshingly opposed that bullshit assertion frontally yesterday. In a piece pointedly titled, “The Watchdogs That Didn’t Bark,” reporter Scot Paltrow shows that the mortgage arena is a target-rich environment:

The federal government, as has been widely noted, has pressed few criminal cases against major lenders or senior executives for the events that led to the meltdown of 2007…

The government also hasn’t brought any prosecutions for dubious foreclosure practices deployed since 2007 by big banks and other mortgage-servicing companies.

But this part of the financial system, a Reuters examination shows, is filled with potential leads.

The article is very much worth reading in full, and sets forth specific examples of abuses, such as:

Document fabrications and forgeries (the article points out how the US attorney’s office has gone after forgeries of high school diploma and sports memorabilia but can’t be bothered with the much bigger stakes housing market)

Illegal foreclosures on active duty servicemen, which are criminal misdemeanors under the Servicemembers’ Civil Relief Act

Exaggerating the amount owed by charging for services never performed and overstating how much the borrower was in arrears

False claims in court that the bank had offered borrowers mortgage modifications

Persistent and “outrageous” misstatement of material facts by foreclosure mills

As readers of this blog know, this isn’t close to a complete list. You can add foreclosing on homes where there is no mortgage, foreclosing on burned-down homes where the insurer has made payment in full, mortgage baits and switches at closings and telling borrowers they had to default to be eligible for HAMP. The only bit of good news is there is a LPS investigation underway, but it has been ongoing since 2009. Funny how Catherine Masto in the comparatively small Nevada attorney general’s office has made more progress from an at the earliest October 2010 start date.

And we still have the banking industry repeating its mantra: everyone who lost his home was delinquent. Yes, in a kangaroo court, the accused will always lose. But the Washington Post runs this sort of propaganda in a woefully ignorant op-ed arguing in favor of the less than 50 state attorney general settlement, based on the false premises that a deal will lead to meaningful principal mods and that the lack of a deal (as opposed to pervasive abuses that are also keeping investors away from private label paper) is the source of the dreaded “uncertainty” and hence must be eliminated. (Adam Levitin has already admirably dispatched the reasoning, such as it is, that underlies this op ed, which is a rehash of tired arguments).

Notice the Reuters article doesn’t even get to frauds on investors: double dipping (charing both investors and borrowers for the same fee), misrepresentations to investors (false certifications by trustees and servicers that they held the collateral in good order, Section 11 Securities Act by making representations about loan quality when they never reviewed the loans), and other abuses (such as reporting foreclosed properties being sold months after the fact to allow them to collect additional servicing fees).


29 Responses



  2. foreclosureinfosearch, on December 27, 2011 at 8:59 am said:


    How are U?

    >Chas – Frustrated with all this crapChas – I and many others disagree. When they say they, meaning purported “owners” of the loan…that is what they were selling and without proper indorsement of the note; there WAS separation of the two which has been so, in every case I have reviewed. You cannot “transfer” (“assign”) the mortgage/DOT absent proper indorsement; delivery and perfection of the note to the same entity at the same time without said split and legal nullity and clouding title. I have yet to see one done “properly”.Chas – Indeed it was, see argumet above. Carpenter v. Longan is a Supreme Court case and is still in effect, period. I’m not sure what you’re trying to say about “you” derecognizing the basis in assets. Who? This doesn’t make sense as there is no one with the authority to do so that I’m aware of. This has to do with transferring and maintaining title, not merely related to accounting issues. A note is “indorsed” and DOT or mortgage is “assigned” one cannot be done without the other and continue to be secured. If you want to go after equitable subordination for the middlemen/strawmen/servicers et al, then they need to do so accordingly but not as having any authority to “transfer” anything as they did. In fact due to SPVs being forward sold, conspiracy to commit fraud should be pursued along with securites violations; wire and mail fraud in all these cases in my “I am not an attorney and this is not a legal” opinion” opinion.Chas – Bare and/or legal “title” does not give “title” to anyone legal or not, just authority to do certain things. It is still a legal nullity as stated above to transfer one of the two necessary documents improperly without the other. Any equitable interest needs to be raised and litigated not just taken as (middle/straw man/agent) a given authority to act absent both proper authorization and direction from the principal.Chas – GAAP relates to accounting practices, not chain of title authority and I think you need to separate the two properly or risk the lack of understanding how one gives any authority to do the other, which it doesn’t. So what if they somehow gained off-balance sheet authority which in any normal situation would be illegal, that has nothing to do with the chain of title that needs to remain in tact or if clouded, needing quieting to eliminate those without authority from acting without said authority which is what goes on all the time. We are actually I believe, saying the same thing, just in different ways. You’re absolutely correct in that (per my first response way above) you MUST OWN TITLE to be able to securitize same. These guys DID NOT own title when they attempted to securitize these loans therein lies the problem. The “Lender” was not the “Lender” the “Servicers” were and still are doing everything as a middle/straw-man without the requisite authoity to do so and need to be held accountable. You’re exactly correct, they think because they have some kind of potentially equitable interest either buy some subordination theory to portions of the loan proceeds, this still breaks the chain of title when they try to enforce by foreclosure because they cannot do so not being the owner of the Note AND Deed of Trust or Mortgage. Keep fighting the Maher…whatever works!!<

    …the argument we intend to use over and over again to prevail.


  3. You got it right. The FBI SEC local Law and the State of CA all will not come forward to my case. I have documented fraud since 2008, HAMP, RESPA, TILA etcetra. All they have done is try and keep me out of court and the attorneys are not doing their jobs either since all they want is a piece of the pie and the only ones with the pie are the Banksters themselves since very few of us homeowners have any capital left since the economy crashed and now one is making the same amount of money. They think it is all behind us and the ROBO signers were the worst of it. Hah Hah. What to do is have faith that good judges will get it and help we the little people.

  4. […] of dealing with.  This article is timely in response to an article by Neil F. Garfield (, which is a response to Yves Smith of Naked Capitalism article […]

  5. Mandelman is at it again.

    He just interviewed Marc Dann (former Ohio AG) about the proposed settlement. According to the calculations, 20 billions would hardly gibe a couple of thousands in modification per house under foreclosure (and that, after the AGs have collected 30% of the settlement in expenses and fees).

    According to Marc Dann, there are a few people to contact asap. All the AGs. Put pressure on them and remind them when they are up for reelection and how you’ll endeavor to end their political career.

    Call/e-mail each AG chief of staff. Those are the people who actually DO SOMETHING. They have clout, they have the AGs ears.

    The site gives you a link to the National Assoc. of AGs. Find yours, send an e-mail. If everyone does that, according to Marc Dann, we have the possibility to blow the server!!!

    Get to work. Protest the settlement. {Protest any immunity for the banks. Protest the amount. Nothing short of a couple of trillions will make any difference.

    Get on with it!!!

  6. i understand that this was intended as some sort of joke but it can be used to disparage this site and its authors by merely excerpting certain words–sound bite that makes you look like you are suggesting physical harm.

    It is particularly bothersome considering that its more likely a witness against these people or their servants has only recently turned up dead and most likely other potential witneses are now terrified.

  7. @evoldog1234
    It may be that no name was listed at close, but by the time they filed a name was inserted. If so they didn’t violate the statute of frauds for your state which probably says all property transactions have to be in writing.

    It will be hard to get someone to prosecute a ‘private’ agreement between the parties.

    In this case, it wasn’t like they changed the name after you signed, it was kind of like ‘full disclosure’, we don’t know yet kind of full disclosure.

    There’s a lot of fraud but not everything was fraudulent.

    Hope that makes sense. Search Statute of Frauds for your state, usually and search the Business and Commerce code for your state if you want to see the list of things that are Deceptive Trade Practices.

    We teach our children and our parents taught us that some mistakes we just have to ‘forgive ourself and move on from’.

    If you find yourself in a situation where you have to take that advice, you may find you have a better quality of life if you can look forward to the future and not live in the past so much. Really the only thing that is really real and really true is ‘right NOW’.

    We always miss our NOW moments living and re-living past situations, and by design you play into the role they need you to focus your ‘energy’. Energy cannot be created by man but it can be harnessed. Your focused intent/thoughts/energy is a value. If you knew how it’s being used right now, you’d forget the house and probably be p-o’d that you were used a a pawn in a game of chess.

    But if people don’t see things they don’t think it’s real.

    If you only believe in what you see, you’ll only believe in what is shown to you. Allies of Humanity – series of youtube videos – more cosmic perspective of our world than material – and high level description without taking sides (From a universal standpoint we are all on different sides of the same equation. Some of us are the two plus two and some of us are the four. Equal equals equal.
    An equal has no power over and equal.

    Light and Love,
    Trespass Unwanted, life, corporeal, free, freeman, jure divino, in jure proprio

  8. @evoldog,

    1) I don’t know what the laws in GA are.
    2) I don’t know how state courts have, so far, ruled on this issue.
    3) ! don’t know how federal court in your district has ruled on it.

    Let me give you an idea of what I am talking about: some states have ruled that MERS, as the nominee, could transfer to anyone. In that case, the fact that you had no lender named on the paperwork is irrelevant: the fact that MERS was the nominee gave it all power to transfer. Michigan is one of those states. So is CA. End of discussion.

    In other states, ( New York and Ohio as of recently), courts have ruled that MERS had absolutely no authority to transfer or assign a mortage loan.

    Your question can ONLY be answered by someone from GA, preferably an attorney.

  9. @enraged

    I’m in GA.

    What’s the law? That’s my question.

    What am I trying to find out? I’ve said it three times now:

    I keep reading here and in other places, that the closing was an illegal strawman transaction if, and as it apparently was in most cases, the entity representing themesleves at closing as lender really was not the lender.

    WHAT I WANT TO KNOW IS, if the aforementioned strawman transaction is illegal, then is it also illegal for there to have been NO entity named as the lender at closing, and if so and I can get the closing atty to admit there was no lender at closing, WHAT DOES THAT DO FOR ME LEGALLY??

  10. @evol,

    Here is the thing: what “law” are you refering to? Federal? State? If state, which state are you in?

    And what exactly are you trying to find out?

  11. But can anyone specifically cite the law, if any, that applies when no lender is named on the docs and does not sign the docs, including the note?

    If a strawman lender is not legal, and considering the fact that there is no deal without both parties to sign off on the deal, I would think that the closing atty admiting this would mean something legally, and if so, WHAT?
    Is it legal for you to sign and then for the lender to named later and sign some other time after the closing?

  12. @DCB


  13. @evoldog1234,

    Same for me: the loan broker’s name is on my papers as the “lender”. Mers is on it as the “nominee”. At closing, I had no idea who I was going to pay. I was only told that I would be noptified in writing before the firt payment wqas due. *Shortly after closing, I got a letter from some banks saying: “Pay us, starting on such date”. A couple of years later, I got a letter from another banks saying “from now on, you pay us”. When I went to the recorder’s office, I found that the first bank was added to my paperwork 6 months after closing… in violation of the state law where I live: it should have been done within 90 days. The second bank was NEVER recorded.

    My position is that:
    1) The “loan broker” whose name is on the paperwork never lent anything.. Should someone foreclose, it should only be him since the promisory note is made out to him. However, he can’t foreclose: he doesn’t have a cent in it, and the sloppy recording confirms the transfer to Bank No. 1.
    2) Neither bank I paid had any standing since neither complied with the laws.
    3) Since the last one screwed me royally out thousands and thousands in fees, lost payments, penalties, etc. and harassed the hell out of me for 4 years, I sued in Tila, Respa, fdcpa, etc. Since no one I paid has a vested interest and no one listed in the paperwork has standing, I want rescission plus I’m keeping the house.

  14. I dont know if there is a better thread to ask this in, but considering fraud on the homeowner:

    I’ve read a lot here about the “straw man” lender at the closing table that wasn’t the real lender, which gives rise to legal action, and something just occured to me about my closings.

    There was NO lender on the closing docs when I closed.

    I was unfamiliar with the laws, and frankly, depended on the attorneys I used in my deals in that regard, and they were the source of most of my real estate law knowledge.

    When I asked the att’y at a closing why those lines were always left blank, that I thought there had to be SOMEBODY on there, she replied that “It’s a (I believe she said “table”) closing, they don’t know what lender it’s actually going to be placed with, so they’ll fill that in later”.

    If I can get he atty to admit that no one from any bank was on the docs I signed, as opposed to someone that wasn’t the real lender, what, if anything, does that do for me?









  17. Charles;

    How are U ? As for your comments –

    Charles – Securitization the way they did (and are still doing) it was/is as illegal as the day is long. You cannot “sell” something you don’t own…that’s called FRAUD!

    MSoliman – Charles this is wrong . What do you believe they sold?

    Charles – splitting the note from the mortgage/DOT is still a legal nullity!

    MSoliman – The note was never split from the deed – the MA Land Court is amibiguious in the Ibanez ruling ….if not wrong. Trust me on this. If you derecongnize the basis in assets and admit to subordinating the balance due on the face of the note – you got a bigger problem. If discovered…you transferred bare and legal title to fee simple title.

    Charles – If you want to argue that the securitized loans are simply unsecured then fine…but this are deeds and chain of title issues the transfers of which were and are still being done illegally…

    MSoliman – Bare andlegal is not necessarily illegal and is enforcable. But now it raises the question of equitable interest vs mortgage. (sale v debt)

    Charels – so yes, the securitization in and of itself was not illegal, what and how they attempted to securitize MORTGAGES and DEEDS of TRUST were not done legally.

    M.Soliman – It was done according to GAAP going in . It is ever so legal . The problem you have is that you MUST own title to that you securitize. Transferring debt into an equitable interest by subordianting the debt for pruoses of a pledge is a break in the chain of interest in title

    …the argument we intend to use over and over again to prevail.


  18. @Chris,

    The bailout weas NOT an Obama concoction: it was one of the last dreadful and destructive actions taken by that completely incompetent, brainless, toxic jackass, Bush, Jr. Obama and Congress voted in favor of it, and so did McCain and many others (as you recall, this happened during the electoral compaign of 2008). Recall that many republicans didn’t want to help out the banks nor AIG, and, in retrospect, were probably right at the time. Bush did exactly what he had done earlier to sell his wars: lie, lie and lie and get others such as Paulson to lie, lie and lie. We now know that Paulson made a $3.8 billion killing out of that one. Another one to prosecute whenever we’ll get to it… and if we don’t, I expect he won’t die peacefully in his sleep. Nor will those Dimon and Moynihan.

    What Obama and congress did, however, is give more money, in fear that banks would still collapse regardless of what had already been done to boost them and of the money we had already given would be wasted and would have served no purpose (and it hadn’t). Bush AND Obama, somehow, believed that it is alright to GIVE AWAY our money, no strings attached, while allowing banks to kick us out of our houses.

    Obama’s timidity is in that he fears that, having done a lot already to keep the banks afloat, allowing them to collapse now would literally destroy the economy of this country. That, even though the economy IS already completely destroyed. He thinks and reacts exactly as most people in this country do: rather than realize that you don’t put new wine in an old skin and somethines, cutting your losses is the healthiest thing you could ever do, he will indefinitely prolong the banks’ agony, not understanding that by doing so, he is, in effect, prolonging ours.

    Keep in mind something delirious, in my views: Obama is NOT personally profiting from any of it. Do you understand why he is so dangerous? He is doing everything in the name of ideology. See, a Dimon or a Moynihan can be stopped at some point: take away the money, confiscate everything from them and they become useless, cloutless and pretty much harmless. Obama is an ideologist! He does everything he does for the principle of it. Those are the most dangerous people in the world because they do not listen, they do not heed, they get on their course of action and they don’t budge. That is why those are the first ones to die during revolutions: they mean well and they will go to the end of every good intention that paves the ways to hell, regardless whether whatever they want to accomplis is what we need. Once they’ve decided what we need, they will (unbknownst to ourselves and despite ourselves, you see), push and push and push for it. Right now, Obama still doesn’t get that, what we need is justice and the return of our houses. In his ideologic mind, he thinks that, what we need is… a job! We need a job too but it is not the most important thing we need right now. Right now, justice is at the forefront. Otherwise, truts is completely gone for good and this country is finished.

    Ideologists are the Gandhis, the Mandelas, the Che Guevaras, the Lenins of this world: they know what’s good for the population and they want it at any cost, including their own life. They always ask people what they really want, they promise it, they participate in the action, they become larger than life and… at some point, they need to be stopped because they are completely inflexible. At some point, some strong, pragmatic hand takes over, some Stalin, Castro, Mussolini, someone with a method, a system and ideas palatable to the populations.

    This country has not had a civil war for way too long. It desperately needs one to clean up after itself. The faster we get to it and the faster we’ll come out of it. It will happen, not because of Obama but simply bcause it is due for a radical clean up and return to solid values promotting life instead of death.

    My take on it…

  19. Why doesn’t the gov’t get involved in this mess against the bankers and Wall Street?

    Strong Opinion (use discernment) / answer
    Flash crash.

    Everyone wants to point the finger. No one wants to see the bigger picture. Everyone is tied to this mess in so many ways. Wall Street would bankrupt your parents retirement and your grandparents social security in a heart beat. Flash crash lasts only so long before protective programs kick in to halt trading. By that time the damage is done.

    I say the President has done what he can do since he isn’t in control of the money supply.

    Of course, we have those that will parrot the ‘program’. No matter where they turn, t.v., talk radio, website blogs, comedy shows, articles, newspapers, and their friends at the coffee shops are all saying the ‘same dayam thing.’

    Well guess who’s got enough power to pay for all these people to be on the same page.

    There I said it.
    Until you see the Matrix, you will always remain a prisoner of it.
    You are part of the Matrix and embedded in it when you participate in the games.

    When Bush did all those atrocities, you barely saw a blurb. Barely. No matter what he did, even the Patriot Act, and sitting there with some kids while great financial monuments fell, and peeking through a window on an airplane while people who survived a Hurricane starved on the streets days after wards. I saw a news anchor show a woman who’s child would not wake up. The child was a sleep, no food, no water, and they were all hungry but the child would not wake up, and everyone gets in a tizzy because something has finally happened to them and they have to ‘wake up to the real world’.

    Where is the humanity? Did they have to do all this just to wake you up? When you save your house, will you go back to sleep because that battle that affected you was won? No one fights for anyone but fights against everyone.

    Until someone has a better solution, then STFU (shut the phock up).

    As soon as he does what a president should do, the markets will crash, the banks will fail, the retirements will be worthless, no money for food stamps, no money for social security, no money for medicare, and the lost income from the downfall of stocks will mean no money to run a business which means no work for people, which means no jobs, which means no income to live off of and you’d lose your home anyway.

    So STFU! STFU! STFU! and look around you and see what’s really, really, really going on! A whole lot of stuff is happening to ‘distract’ you from your real journey here. It’s not about the material things. Heck if they didn’t raze fields there’d be an abundance of foods. Yeah I know the ones who are educated are taught about drought conditions and pest conditions, and stuff. Well if you didn’t put all your eggs in one basket you’d have an abundance. A gardener has a variety of crops, a farmer has one. Who’s got a better chance of surviving hard times the gardener or the farmer. The illusion is that what was Created was created in error, as if there is some cosmic mistake.

    The mistake came when Man thought they could do better than what was Created! If we’d just left it alone, drought tolerant crops would grow mixed in with non-drought tolerant crops. Insect resistant plants would grow mixed in with non-insect resistant plants. Herbs would grow mixed in with fruits on trees and vines and vegetables on vines and in the ground.

    We want our entertainment, our vacations, our peace of mind and then want to go to church or some other group organization and jump on the us against them bandwagon.

    The illegals vs US Citizens, or this race vs that race, or this ethnic group vs that ethnic group, now it’s the 99% vs the 1%, and us vs iran, christians vs muslims, public schools vs charter schools. The divisions are endless and they are distracting and you will fall for it and you will seek your savior and he will come.

    And as you tire of all this bickering of all these ‘so called evil-doers’, your savior will come and say, lets make everyone do good. You will want that, because if you can stop everyone from doing bad, you’ll be happy. Them being bad is like you being in Hell. So you turn your powers over to the ones who say be good, and they decide what’s good for you and you let them. Then you start to realize that things you didn’t think were bad, they are calling bad and say you can’t do them anymore, and you find you get punished for things you didn’t know were considered bad by them. Over time you can’t do anything you used to do because the other side of the same coin, the good side has decided that to do some things are ‘bad’ and you can’t be with the ‘good’ people if you are going to be bad. You end up living life like a soulless robot, waiting on someone to approve your every move.

    You are in a world that you can’t see because your mind is clouding your vision with all this infighting. If you don’t see it, you will end up in other worlds that are just as extreme and you will still point to other people as the problem.

    Stop. Just stop. Stop playing. Stop fighting. It’s their system, it’s like a casino the odds are stacked in their favor. Sure there will always be some winners that’s how casinos works. Some winners and a lot of losers.

    You have what they need and want. You think you are in control and you are not. They are not in control either, but your actions will give them control. We are equal. All of us. An equal has no power over an equal, but they can get people to do things they should not be able to do to give them an advantage.

    Everyone has a right to life. Whether you pay to live (mortgage) or just live, doesn’t matter. If we all stopped, this would be over, but we want to be warm in the winter and cool in the summer. We are part of the game being played.

    If you want that president to do something, you best dayam sure well better know what the end result is and be prepared to accept it. Otherwise, he’s doing a dayam good job to keep it from getting too worse too quick.

    Sit tight the ride is going to get bumpier, and those that jump ship thinking they will find a better world with advanced beings of some sort, well it’s advanced beings of the negative scale behind all of this, and just imagine a more ‘positive’ HELL if you jump ship to one that says ‘do no wrong’ because we say so and we decide what wrong is.

    The Creator is everything. Is good included in the word everything? I think so. Is evil included in the word everything? I think so. This is the place where it balances back and forth. Heaven gives you more control of the balance. Hell is where you are tilted to the extreme one way or the other. I promise you, after being here and having the free will to decide which way you will go, and making mistakes in love, and fixing or not fixing them, and making mistakes in family relationships and fixing it or not fixing it, and making mistakes with education/employment/meals you’ve cooked or whatever, don’t you think you’ll have a hard time being somewhere where you can’t make a mistake or you are severely punished for your wrongdoing?

    You are being distracted. You best pick whether you want to stay tied to the physical or evolve from this forest to a new set of trees.

    I love us all, One.
    Light and Love,
    Trespass Unwanted, corporeal, life, free, jure divino, in jure proprio.

  20. @ Charles Cox:

    Most of what you say I do agree, is valid and honest. The thing is: modifications in my opinion are a refinance…I mean, let’s call it what it is. Even then, you need to own the note to change any of its terms, as it is a contract, not with a servicer or an originator.

    And I do challenge the home prices. I am in rehab of older homes and sub-contracting…the prices where I come and from and am currently living are way below construction/building prices. I have seen reductions as high as 70%. So, just humor me here: the prices of $40-60 sq. ft are spot on? For me, this is not a correction, but a decline not seen in 50 years. FYI: doing rehab I bought the property I own (sorry, currently live it) for <80.00 per sq foot and did much of my own construction to upgrade the systems and aesthetics, way below what others were paying and am still under water, based on current appraisals.

    For me the Obama administration is directly responsible. He is in office, Bush, Regan, Clinton, etc…moot point, to those of us who blame everyone else for the origin of the problem. Don't we have anyone out there who can troubleshoot and manage anything, anymore? This problem is fixable. Geez!

  21. And the LPS “investigation” from 3 years ago by Blumenthal as Connecticut AG??? Washed away into the Atlantic Ocean as he was elected to a higher political position?

  22. The Big Lie- How Wall Street Destroyed The Wonder That Was America…..
    December 27th, 2011 | Author: Matthew D. Weidner, Esq.

    A great essay. Something for us all to consider. We’re all waking up now. But it’s not like waking up after a good, restful night’s sleep in a good bed. It’s like waking up after a hard night of drinking. Drinking really, really cheap gin. And chain smoking filter less camel cigarets while staying up for days at a time gambling away your entire family’s fortune in a crappy casino miles off the strip.

    Your eyes are caked shut with God only knows what. Your clothes are stained with, with….oh God

    Well, GOOOOOOD MORNING SUNSHINE….time to get this brand new life started! Remember, this nation once had an industrial and employment base that was the envy of all the world. Honest, it’s true. I can remember it….sort of. I remember when General Electric had a plant in Daytona Beach….and I remember when it left Daytona Beach….and nothing ever returned…..a metaphor for all of America…..

    The Big Lie

  23. Maher,

    Securitization the way they did (and are still doing) it was/is as illegal as the day is long. You cannot “sell” something you don’t own…that’s called FRAUD! Carpenter v. Longan has not been overturned to date that I am aware of…splitting the note from the mortgage/DOT is still a legal nullity! If you want to argue that the securitized loans are simply unsecured then fine…but this are deeds and chain of title issues the transfers of which were and are still being done illegally…so yes, the securitization in and of itself was not illegal, what and how they attempted to securitize MORTGAGES and DEEDS of TRUST were not done legally.


    You CANNOT “modify” a loan you are not a real party in interest to! The term “loan modification” is like scratching your fingernails on the blackboard. How about simply “refinancing”; why have you NOT heard of them doing that instead. Read a “loan modification agreement” and you’ll see what I mean…nothing is “modified” (except on the VERY rare occasion).


    Where is the vicarious liability exposure? If the banksters are their agents, then liability exists.

    Neidermeyer, Chris and all…indeed Obama is as guilty if not moreso than the rest. Everyone in D.C. is delusional and removed far enough to have no clue what’s going on. The few that start to understand things disappear into the woodwork after making any suggestion of impropriety.

    Home prices have NOT truely fallen as much as you think. If you look at historical appreciation and compare the frantic and false inflation due to the access to easy financing, we are not far off where we should be and my calculations indicate we have a bit more to go before we are where we SHOULD be. This is what every apprasier was REQUIRED to consider and failed to do during all this. The “absent undue market influence” factor was completely eliminated from their required consideration of values except on very rare occasions.

    Where did the billions (trillions actually) go that went to the banks to somehow fix their own mess…the amount of which could have paid off all the mortgages in the Country. If the administration actually cared about the people rather than their bankster buddies, they would have given our money back to us instead of more of it to the bankster thieves who merely facilitated lending us our own money in the first place.

    Disgusting beyond words!

  24. well my opinion of this entire mess we are in is the corporations must have paid big money to get obama elected . i you help me gts just tit for tat is all. et elected budddies and we will give you that money back as a bailout so your bonuses can continue. the american people will know nothing about our little deal. the congress the think they “elected” will vote yes and your in the clear. oh and we will make this bailout so there is no strings attached and no accountability. president obama what about the mortgage crisis the people will demand help. oh we will help them. The HAMP program we will say will help 4 million but as we know we only have a few unsecured mortgages so the amount will be closer to 400k helped so dont worry. when they send the paper work have faxes set up to shred it. if its a fed ex package have the janitors pick it up and sign and discard. but mt president what if this doesnt work oh when they call for the hamp loan tell them to apply for the loan they have to be in default to apply, 3 months behind. beleive me the american people do not want to lose their hom es they are not going to just stop paying. when they do stop paying if they do and they apply for hamp use the same tactics as above shred and discard paper work, move the file fromn the person working on it. they wont know a thing

    boys this is unfailable remember i am the president of the united states.

    but president what if the american people demnand prosecutions for all our missdeads to make us rich and powerful. we will but not you guys. the little guys will go the lawyers , the morgage brokers ect not you guys you guys are safe with me.

    ok everyone my rndition why obama is doing nothing and they are doing nothing illegal because according to obama they are not he approved all this to be done. to take all our wealth, leave us peniless and unemployed. but those of us on here and all these web sites are aware we are awake we took that pill (matrix) we understand we are fighting back.

    you can not pull the wool over all the americans people. some of us who have been nurses ect that have to critial think everyday of our lives to save lives had look outside the box to why my paperwork was always lost or why my assignment is dated after my NOD, or why would my bank tell me not to pay. something was bigger and more sinister happening. our critial thinking made us have to look, listen, and feel (cpr) what was happening around us.

    lets all stay the course google recall of our congressmen it is happening in some states. the men and woman that voted us out of our houses need to be recalled. we are angry and we are not taking it anymore. we the people have a constitution and the declaration of independence to prevent what is happening to us right now but for some reason 1/2 our country is asleep. wake them up for gods sakes it is us that is going to save us no one else

  25. Obama is the one who decided to push the bailout of people who never had to prove they were indeed failing. Never have I heard of anyone getting money (trillions) with no strings attached. Let the rest of us try and get money for poor business choices…won’t happen.

    Servicer’s and banks have chosen this path of foreclosure. Profits would be made if modifications were offered, it is 4th grade math folks! Frankly, I am sick to death of hearing “people bought more house than they could afford” Bull Shit. This is not the reason home prices have fallen to less than they can be built for, true unemployment is at or near 20% and higher in many areas, inflation is exceeded for years now, the incremental and even stagnant wage, while outsourcing is a way of life for corporations, there isn’t anyone in this country that can afford long-term heath care, the list goes on and on. These are the reasons discretionary money has dried up.

    These banks are thieves, plain and simple. As are the Congress, Senate and any other parties residing in DC on our money. The trough is full of them! They are not clueless. We have allowed this for years, because they are smart. They ply us with enough stuff, to distract us and make us feel, like we are immune. This could never happen to me. Well it is happening to all of us. For every person who thinks this is not their problem, let them try and sell their property. Not only is the possibility of having a grave shortfall on the sale real, but the IRS will send you a bill and the the Banksters’ can take YOU to court for the deficiency. What a system!

  26. Neil, quit pardoning Obama. This is HIS scam as much as anyone elses. You forget– -they’re all on the same team.

  27. Banks did “in fact” do nothing illegal.

    The securtization process is as legal as running through a green light at an interesection . Its when a 747 airliner tries to land in that same interesection that the traffic signals become a problem.

    Judge – Did you sign the note

    Petitoner – Yes

    Judge – Did you take the money

    Petitoner – Well, yes! It’s upon missing my payments they issued a letter and stated my loan was in default.

    Judge – Well did you stop making payments?

    Petitoner – Yes your honor…but I am not electing to foreclose on myself.

    Judge – What?

    Petitoner – I was given 30 years to repurchase my home your honor. Its called a reverse mortgage or REPO. A zero coupon bond I am told.

    It takes 30 years before the amount due is payable.

    Petitoner- I spoke with Mers Corp and they are the nicest people.

    They agree, we just dont feel like “selling” at this time.


  28. Breaking News —– shooting bankers and there lawyers is not illegal , you have to have a proper tags and check them in @ DNR station

  29. I disagree , Obama is getting what he wants … he is not operating out of fear. The table was set for him by both parties failing to create effective independant oversight of both government and industry and now he is hanging us with the system they have created ,, a system without oversight where Obama through his openly Communist Czars rule us.. Obama has not and does not consult with his cabinet.. that is well documented ,, we are ruled by his shadow gov’t system …

    Neil ,, it doesn’t matter that the state AG’s get it .. nothing will be done at the federal level and after years of this abuse the vast (what used to be) middle class is losing it’s will and ability to fight.

    The noose is tightening… I can’t wait for the next tax increase to come through the back door … continued energy price hikes courtesy of Obamas EPA..

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