Price of Signature of Homeowners Rises to Avoid “Title Crash”

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EDITOR’S ANALYSIS: The race is on. Homeowners are sitting on an asset — their signature — that has gone up in value 35X thus far from $1,000 to $35,000. The REAL STORY is that the Banks and servicers need to find a way to get the signatures of homeowners through any means possible, including payment. The amount of the payment is rising and will continue to rise like the last holdout of a property owner on a parcel where some big developer wants to build a giant stadium. People are starting to realize that the longer you hold out the higher will be the payment.

The reason is simple. With the current Missouri indictment clarifying that this was no accidental paperwork problem, the realization is dawning on almost everyone that plain old property law is going to be the basis of the solution to the title crisis enveloping this nation. Without solving it, title insurers, banks, servicers, and other parties could be liable or indicted for stealing millions of homes.

The logic is both simple and compelling. The Banks and services employed “outside servicers” to fabricate documents containing false declarations about the chain of title, their authority to execute documents. Those documents “established” that the forecloser “pretender” was the creditor and that the original loan documents were perfectly fine — and now transferred to a stranger to the transaction — something we call a break in the chain of title if it shows up in the title records. 

If the documents consisted of false declarations (and forged too), and that point is accepted as a fact proven in court, there remains no discretion for the Judge but to invalidate the title chain from the time that the break occurred forward. This means title reverts back to the way title appeared in the title chain before the fabrication of documents. That means the homeowner is still the record title owner, entitled to both the title and possession of the property.

The fact is that all the foreclosed homeowners who were the victims of wrongful foreclosures are most probably still the legal owner of the property that was “foreclosed” and “sold” to “creditors” at a false “auction” claiming false credentials. There is only one way to be sure that the title chain can be fixed — get the signature of the homeowner(s) who were involved in the title chain. But the banks and Servicers know that if they simply come right out and ask for the signature they will be met with a negative answer and a barrage of lawsuits which now bear substantial  likelihood of success.

So they are concocting various excuses for why homeowners should sign documents that contain releases and ratifications of title. THAT is why they are getting more lenient on modifications short-sales, and now bonuses that raise the standard amount of “cash for keys” from what was $1,000 to over $35,000 so far. See an attorney who is knowledgeable in real estate transactions before you agree to sign anything and bargain hard for your rights and compensation.

They made a fortune deceiving you into signing onto loans that were unworkable based upon prices that were just plain false. You might as well get your piece of the pie — or up the ante and file a quiet title lawsuit. Lawyers should be careful when advising their clients or prospective clients. Many lawyers are still saying the old “you owe the money, you have no rights” mantra. This could be the basis for a malpractice suit later when the client realizes that he did have rights and he lost them as a result of the attorney’s bad advice.

BLOOMBERG

by Prashant Gopal, banks-paying-homeowners-a-bonus-to-avoid-foreclosures-mortgages.html

Banks, accelerating efforts to move troubled mortgages off their books, are offering as much as $35,000 or more in cash to delinquent homeowners to sell their properties for less than they owe.

Lenders have routinely delayed or blocked such transactions, known as short sales, in which they accept less from a buyer than the seller’s outstanding loan. Now banks have decided the deals are faster and less costly than foreclosures, which have slowed in response to regulatory probes of abusive practices. Banks are nudging potential sellers by pre-approving deals, streamlining the closing process, forgoing their right to pursue unpaid debt and in some cases providing large cash incentives, said Bill Fricke, senior credit officer for Moody’s Investors Service in New York.

Losses for lenders are about 15 percent lower on the sales than on foreclosures, which can take years to complete while taxes and legal, maintenance and other costs accumulate, according to Moody’s. The deals accounted for 33 percent of financially distressed transactions in November, up from 24 percent a year earlier, said CoreLogic Inc., a Santa Ana, California-based real estate information company.

Karen Farley hadn’t made a mortgage payment in a year when she got what looked like a form letter from her lender.

“You could sell your home, owe nothing more on your mortgage and get $30,000,” JPMorgan Chase & Co. (JPM) said in the Aug. 17 letter obtained by Bloomberg News.

$200,000 Short

Farley, whose home construction lending business dried up after the housing crash, said the New York-based bank agreed to let her sell her San Marcos, California, home for $592,000 — about $200,000 less than what she owes. The $30,000 will cover moving costs and the rental deposit for her next home. Farley, who is also approved for an additional $3,000 through a federal incentive program, is scheduled to close the deal Feb. 10.

“I wondered, why would they offer me something, and why wouldn’t they just give me the boot?” Farley, 65, said in a telephone interview. “Instead, I’m getting money.”

Tom Kelly, a JPMorgan spokesman, declined to comment on the company’s incentives.

“When a modification is not possible, a short sale produces a better and faster result for the homeowner, the investor and the community than a foreclosure,” he said in an e-mail.

A mountain of pending repossessions is holding back a recovery in the housing market, where prices have fallen for six straight years, and damping economic growth. Owners of more than 14 million homes are in foreclosure, behind on their mortgages or owe more than their properties are worth, said RealtyTrac Inc., a property-data company in Irvine, California.

Foreclosure Holdouts

Short sales represented 9 percent of all U.S. residential transactions in November, the most recent month for which data is available, up from 2 percent in January 2008, according to Corelogic. Bank-owned foreclosures and short sales sold at a discount of 34 percent to non-distressed properties in the third quarter, according to RealtyTrac.

As lenders shift their focus to sales, they are finding that some borrowers would rather risk repossession while they wait for a loan modification, according to Guy Cecala, publisher of Inside Mortgage Finance, a trade journal. In a loan modification, the monthly payment, and sometimes principal, is reduced to help prevent seizure. Homeowners facing foreclosure may live rent-free for years before they are forced out.

“That’s why the banks have got to pay the big bucks,” Cecala said. “The real question is why is the bribe so big? Is that what it takes to get somebody out of their home?”

Multiple Banks

Banks also pay a few thousand dollars to the owners of second liens, whose loans can be wiped out by a short sale, to encourage them not to block the deals.

While JPMorgan is giving the largest incentive payments, other banks and mortgage investors are also offering them, according to interviews with 12 real estate agents in Arizona, California, Florida, New York and Washington. Lenders also provide incentives on loans they service and don’t own when the mortgage investor, such as a hedge fund, requests it.

JPMorgan, the biggest U.S. bank, approves about 5,000 short sales a month. It generally offers $10,000 to $35,000 in cash payments at settlement, real estate agents said. Not all of the sales include incentives.

Borrowers also can receive payments from the federal government’s Home Affordable Foreclosure Alternatives program, which in 2010 began offering as much as $1,500 to servicers, $2,000 to investors and $3,000 to homeowners who complete short sales.

Quicker Resolution

For banks, approving a sale for less than is owed on the home can cut a year or more off the time it takes to unload a property. From listing to sale, the transactions took about 123 days on average at the end of last year, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

Lenders spend an average of 348 days to foreclose in the U.S. and an additional 175 days to sell the property, according to RealtyTrac. In New York, a state that requires court approval for repossessions, it takes about four years to foreclose on a home and then resell it, the company said.

Lenders can often afford to forgive debt, offer the incentive and still make a profit because they purchased the loan from another bank at a discount, said Trent Chapman, a Realtor who trains brokers and attorneys to negotiate with banks for short sales.

Chapman, who also writes a blog on TheShortSaleGenius.com, said he’s heard about 50 homeowners who have received incentives from lenders including JPMorgan, Wells Fargo & Co., Citigroup Inc. and Ally Financial Inc.

Wells Fargo

“My guess is they want to get rid of bad loans,” Chapman said. “If they short sale these types of loans, they have less of a headache and have some goodwill with the homeowner.”

Wells Fargo, based in San Francisco, offers relocation assistance of as much as $20,000 for borrowers who complete short sales or agree to transfer title through a deed in lieu of foreclosure “in certain states with extended foreclosure timelines, including Florida,” Veronica Clemons, a spokeswoman, said in an e-mail.

Bank of America Corp. sent letters to 20,000 Florida homeowners as part of a pilot program, offering incentives of as much as $20,000, or 5 percent of the unpaid loan balance, Jumana Bauwens, a spokeswoman, said in an e-mail. The program expired in December and the Charlotte, North Carolina-based bank hasn’t decided whether to introduce it in other states, she said. About 15 percent of the homeowners agreed to participate in the program, she said.

Citigroup Offers

“The bank is pleased with the response,” Bauwens wrote. “The state is experiencing higher foreclosure rates than other parts of the country and is therefore seen as a viable market to gauge incremental short-sale response and completion rates when presenting homeowners with relocation assistance at closing.”

Citigroup offers $3,000 to most borrowers who qualify for its program, but the “amount may increase based on the circumstances of each individual case,” Mark Rodgers, a spokesman for the New York-based bank, said in an e-mail. “Investor programs have different guidelines for relocation incentives, which we honor.”

Susan Fitzpatrick, a spokeswoman for Detroit-based Ally, didn’t comment specifically on incentives when asked about them.

Borrowers typically can’t negotiate the incentives, which arrive by mail, Chapman, the Realtor, said.

Tap on Shoulder

“It’s not really easy to identify the guidelines because Chase doesn’t tell you, they kind of tap you on the shoulder,” he said. “When I first saw it in January 2011, I thought it was a joke or a typo. I was convinced it must say $3,000, not $30,000.”

Offering enough for the homeowner to put down a deposit on a rental apartment is reasonable, said Sean O’Toole, chief executive officer of ForeclosureRadar.com, which tracks sales of foreclosed properties. Giving tens of thousands of dollars to delinquent homeowners sends the wrong message, particularly if they got into trouble by running up home-equity loans during the housing boom, he said.

“It may make sense for people to walk away, it doesn’t make sense for them to get rewarded for doing it,” O’Toole said. “It’s not the homeowner’s fault that house prices dropped so dramatically, but they have already received months of free rent, if not cash out.”

Cecala of Inside Mortgage Finance said he wonders whether lenders are making big payments on properties with underlying title problems. Evan Berlin, managing partner of Berlin Patten, a real estate law firm in Sarasota, Florida, said representatives of a large bank told him the incentives are primarily given to borrowers when it doesn’t have the proper paperwork needed to win its foreclosure case. He declined to name the bank for publication.

Incentive Disconnect

State attorneys general across the U.S. began investigating foreclosure practices in October 2010 following allegations that the nation’s top mortgage servicers were using faulty documents to repossess homes.

Berlin said his office negotiated about 400 short sales in the past year and about a quarter included an incentive, ranging from $3,000 to $48,000. In some cases, the payments aren’t incentives at all because they’re offered after the borrower has almost completed the short sale, he said.

“The idea is that this is relocation assistance,” Berlin said. “But when you’re offering $48,000, obviously it doesn’t cost $48,000 to relocate.”

Cooperation Sought

The size of the payment may have little to do with sales price. JPMorgan gave one Phoenix homeowner $20,000 after she sold her property in June for $32,000, according to Royce Hauger, the real estate agent who represented the seller and shared a copy of the settlement sheet with Bloomberg News. The bank also agreed to forgive more than $70,000 in debt, she said.

Kelly, the JPMorgan spokesman, declined to comment on the payment.

The homeowners are getting the money in exchange for their cooperation, said Kris Pilles, a Riverhead, New York-based real estate broker who represents banks, servicers and hedge funds that own distressed housing debt.

Pilles is frequently dispatched to the homes of delinquent borrowers to explain the benefits of avoiding foreclosure, he said. His clients have paid as much as $92,500. In return, the lenders expect the seller to clean the house before showings, and trim the grass.

“Money talks,” Pilles said. “From the bank side, it’s anything to initiate a conversation with someone who may not be listening to them.”

To contact the reporter on this story: Prashant Gopal in New York at pgopal2@bloomberg.net

To contact the editors responsible for this story: Daniel Taub at dtaub@bloomberg.net; Rob Urban at robprag@bloomberg.net.

29 Responses

  1. […] get the two-fer. Both articles below. Neil’s article is titled: “Price of Signature of Homeowners Rises to Avoid “Title Crash,” and is available on his web site by clicking on the link. Be ready to have very cold and delicious […]

  2. Your cause of action against these fraudsters in any civil complaint should include “Abuse of Process”, the courts have determined that the intent to do harm is inherent in the act of abuse of process and therefore does not, by itself, have to be proven…….

    In my case the filing of 5 NED’s in as many years and each one claiming to be for the benefit of a different entity, presented by the same law firm, is nothing short of Abuse of Process.

    Good luck to us all…………..

    The Grey in Colorado

  3. @ The Grey and @ Enraged

    Sad but true!
    Hi, my name is Jennifer and I am obsessive about wanting the party who claims to be the beneficiary of my mortgage loan to show me one document that confirms their claim! (The assignment, dated 4 years after the trust closed is not what I am talking about!)

    PS – the trauma would be part of my damages – right?

  4. @Grey,

    If you have kids or a wife and they were deprived of your company because you were glued to the monitor, they too have a claim for loss of consortium. This ordeal is even so real that people kill themselves over it. You can never be too dramatic about what you went through and how much it permeated your every moment.

  5. I completely agree with what you said. It is a 24, 7, 52 weeks a year ordeal that never leaves your side.

    Most people who know me are afraid to say “How’s it going?” because they know I will go into a discussion about which bank did what, the latest court decisions, info from sites like this one or my latest motions and rulings.

    It has consumed my life, destroyed my eye site sitting in front of this screen hour after hour, day in and day out and my health isn’t what it once was, I won’t touch on my mental health.

    It’s like the worst kind of drug addiction you could ever imagine, only difference is the monkey on my back is dressed like a Bankster.

    Dan

  6. @Grey,

    You forget that the ordeal doesn’t stop after you’ve spent 8 hours sitting in front of the computer. The threat of losing your house is real. It’s something you live with day in, day out. You go to bed with it. You get up in the morning with it. I haunts you every minute of your life. It’s a 24 hr/day ordeal. Don’t short change yourself by counting 8 hours per day and 5 days per week. There are no Saturdays and Sundays when you deal with that threat. No off time. No vacation, no holiday.

    Five years of that ordear? You baseline should be 3 times what you calculate. That’s how i view my price.

  7. I’ve been in this fight for almost 6 years, pro se, and I probably spend 10 hours a day at my desk researching, reading, writing and drawing up motions for one of the 3 legal actions I seem to have going at the same time.

    That’s 52 weeks x 5 = 260 days
    x 8 hours equals = 2080 hrs.
    x $100 per = $208,000
    x 5.5 years = $1,144,000

    So that would be my baseline but then I’d have to factor in intentional abuse of process and duress, not to mention 6 or 7 other actionable offenses.

    Hell , they ain’t got enough money to get me to walk away…..

    The Banksters have tried just about everything short of a tactical nuke to get people out of their homes and now they want us to take money, don’t matter which way the wind is blowing, this new tact by the Banksters stinks!!!!

    Stand and Deliver, if they want it, let them come and get it

    The Grey in Colorado.

  8. Get a good Jewish Litigation Atty. and sleep well tonight everyone.

  9. Raise the ante. Make an absolutely unreasonable demand that you can back up with numbers. See how high they’re willing to jump. Just because you threw out a number and they indicated that they were willing to meet it (get it in writing, though), it doesn’t mean that you have to take it. You can always include some condition they will not, under any circumstance, agree to, such as a full release, with indemnification agreement and hold harmless for any claim whatsoever, asserted or potential, arising out of the past, present or future tranfer of the mortgage note.

    They won’t bite but get the number in writing. Then, come back and tell us how much they were willing to buy you out for. Never know: someone may very well need the money for surgery or something and would be more than happy to take that. Always better than a lousy $1,800!

  10. Pffft! ….. Keep your money! … Fix my Title!

  11. Don’t take the money!

  12. @Bill,

    How long have you been at it? I mean, how many hours? I believe chas404 mentioned that he got a 10,000-hour-crash-course on everything mortgage. Based on how many hours I’ve spent for the past 2 years, that sounds about right.

    How much is one hour of your time worth?

    Give them that figure. If they don’t like it (and you haven’t yet done so), sue! That’s what courts are for…

  13. @chris,

    And you know what really ticked me off today? For a whole lot of 3 minutes and 47 seconds. ‘Til I decided to “forgive them for they know not what they’re doing”. No need to poison myself, right?

    In my state newspaper, there was a long editorial written by Prez Obama, who keeps refering to us as “irresponsible borrowers”. See, the “responsible” ones are what I, personally, would call “suckers”. They had a job, their income got cut, the value of their house lost 40%, their pension blew away, they tried to get a mod the first time around and were denied, they tried another 3 or 4 or 5 times and kept on being denied and, all the while, they kept on paying. The still don’t have a mod and they don’t have a pot to piss in left but, responsible as they are (or suckers, if you will), they’re still paying while 40% underwater.

    Those appear to be the kind Prez Obama really likes, for some reason. He likes them a lot. He’ll go to bats for them.

    Those “responsible (sucker) borrowers” have lost everything and eat one meal a day to pay the damn house but… they pay! So, those “responsible” borrowers shall have a crack at the new-and-improved HAMP/HARP. Prez Obama likes patsies. Suckers don’t ask for much and they are Oh so ever grateful if you throw them a bone. Since they never got behind in their mortgage payment (although they lost a few pounds on the rice-and-beans diet), they are e-li-gi-ble for Hamp revamped.

    We, on the other hand, became streetwise. Took us a while but something sunk in. Somewhere down the line, we figured that eating 3 meals a day was a hell of a lot more important than the damn house (we’ll need that body in pretty good shape if Prez Obama doesn’t do what’s required and the S*%t hits the fan!) and looking at Moyhihan and Dimon pocket their $10 million bonuses year after year left somewhat of a bitter taste in our mouth. But… we were going to be damned to eternity if we ever, ever, ever walked away without a fight. So, we stopped paying and started squatting in a home nobody can legally take away from us anyway.

    Prez Obama doesn’t like us very much. We don’t pay. We don’t leave. And to top it off, we write about it.

    Oh well! He’ll have to get over it. We’re not moving. We’re still eating and we’re fighting our own battle. The one he decided to call off on our behalf when we never asked him to and that same one he doesn’t have quite the right to call of anyway. That same battle he promised to fight (The Change!) ’til he had his own “change”.

    Oops! I think I still might have a bout of anger there… I think I’ll go run around the block to calm my nerves.

  14. A week after I defeated Citimortgage’s MSJ pro se, they made me an offer of over $16,000. When they talked to me on the phone about it, I sort of hinted that wasn’t enough. The person said 30,000 but I was vague. A written offer to split 50-50 has gotten no response. CM is stymied right now and their lawyer hasn’t done squat in the 10 weeks since they lost.

  15. The thing that ought to stick in every American’s craw is that the signature (sale of unregistered note) was worth 13 trillion or more – different ways to look at it over time. The big money was made in the multiple sales and multiple insurance and multiple trading profits before the docs were even signed and in a set up to make big money after the so called “default” and in the refied false defaults (just winging it here taking in all the “theories” which history will show were not “theories”).

    The real “creditors” could care less about a foreclosure in their own name and don’t want to disclose themselves or their sham Ponzi scheme fraud especially to investors who funded them. They are still there behind the scenes in different guises using the “servicer-collectors” and robo fraud signers as their front men. They profit even after certificate investors have taken a loss.

    The certificate investors have been paid through many means and taken a tax write off and also want nothing to do with the foreclosure.

    The too big to fail just on keep punching the foreclosure mill money machine just because they can with the blessing of TARP and other govt assistance and with the blessing of the courts.

    Now a whole bunch of big investors including foreign investors with cash will get in on the act and profit from rentals (and securitize that deal with renter default insurance and an eviction mill).

    The “deadbeats” who bought too much (phantom value) house or tapped their non -existent equity went broke paying their toxic “mortgage” for more than they borrowed until they had nothing left (most did this – investor speculators were the first to run not walk out years ago – then the subprime “1% really equals 16%” “deadbeats” were next – then the “got subprime really qualified for prime” – then the prime and now the “what’s the point not going to recover 50% loss” and still going broke people. And the 2010 census said there were 80 million vacant homes.

  16. lies lies,

    Google Mark Stopa blog he is in Tampa and has been reposted on here. I have not met him but have read his blog.

  17. Take the money and pay the taxes for the bank ha ha ha =0=

  18. @ lies is all they tell

    Let me say this to you:

    The originators knew from the onset many could not afford the homes, as the prices were highly inflated and if you wanted one you had to pay the prevailing rates per square foot. Having said that, I have been around in this business for some time and know the scam…unreasonably low interest, teaser rates of 2.25-2.95%, 1st year, then after 2nd. year 5-6%, then the 3rd. 9-11%…all while these folks knew no one could pay and bought insurance on the default. Got paid for the entire amount of principle and never paid the investor, stole the money that they had no right to, as they had no insurable interest to buy the policy.

    The appraisals were false/inflated, incomes were lied about and changed after documents were signed, in many cases, peoples indebtedness was limited to make ratios work, transfers were lied about, funding, titles and who insured them, notes and deeds were separated…the list is so long.

    As I have gone through this, I began thinking there were deadbeats out there and deserved this, but now, I see the light. This entire mess was planned, executed with intent and enabled by thousands. This was no accident! The intent is provable…no matter what they say, they are liars and need to be punished to the full extent of the law…

    My $.02

  19. @chas404 i am with you wells fargo has forged my note, rubber stamped my note, and as servicer has not even presented an assignment we are in this together fighting to stay in our home. so different when you have positive counsel. i went to one tampa lawyer group and was told. “what do want a free house” i told hiim straight out ” that is what wells fargo wants!!!!” and i walked out. they stalked me for months calling. i am good now positive counsel. i did not cause this , this was totally manufactured by wells fargo. i told counsel before this entire fiasco and obamas hamp speach summer of 2009 i was current on everything great credit score. they tanked the economy jobs hard to find and we started to spiral the drain. good luck we need it fight these baystards

  20. so 1st of all we all leared a big lesson in this mess. question everything. never walk out of closing with unsigned documents. who the heck new. you sign closing docs. the title company handed you a folder, the broker shook your hand and said congratulations. that was the last time you may have even looked at he docs until 3years alter you are trying to figure our why you cant afford this house, when the previous hoe your kids grew up in you worked through multiple pregnancies, illness and was never close to ever losing your home.

    i urge everyone examine your docs. the next problem you will all notice they approved all these loans on GROSS incoome. i am sure back in 1991 i was approved by gross, but i am also sure they verified income and saw NET and made sure the mortgage was not more then 27% of net and my mortgage was right tat 25% back then. I am NURSE not a mortgage broker when i applied for my mortgage i was not sure how much the mortgage would be we were putting 20% down. if someone would have done due diligence and did an income verification my mortgage would have been in 50% range of my NET. and i should never have been approved to buy this home. with no skin in the game and mortgage brokers doing anything to sell mortgages putting people in stated income loans was the trick. the other trick was not to tell the home owner about this. at closing we sign away not knowing the underlying harsh reality of the loan.
    how sad to make so many children homeless because people wanted to make money on us this is a travesty. lets not forget wells fargo telling all of us not to pay the mortgage, we had to be in default before we couldnt apply for the hamp loan, chase was worse they told homeowners to pay a certain amount and the small amount caused the default
    seems we need a rescure here

  21. OK. So Wells Fargo is offering $20k in Florida? Who do I call to begin negotiations?

    They are going to get sued by me for stealing the title insurance premium (insurance fraud) and never funding the policy plus screwing up the ABCD title chain plus a bunch of other overcharges. Plus I will be defending my title for X number of years (Florida it is 2 to 6 plus yrs).

    Don’t flame but this is a better argument in theory. Atleast here we are recognizing a bad deal and bad paperwork. Homeowner on title trades title and signatures for cash and deficiency waivers. Neil is framing this right. The question is only how much?

    Don’t flame me I understand it’s not fair but it is a better argument than you defaulted (on hidden crap deal judge won’t review) and then how do to get counterclaims etc clawed back (good luck).

    I think this shows realization on the ‘bank’s’ part. If more homeowners would fight this price would go UP.

  22. @Ken,

    He already did! Remember the serpent?

  23. God Damn the Pusherman

  24. god damn the pusher man

  25. Java,

    Agreed. I wouldn’t either. Not enough money for the hell they put me through. We are in the driver’s seat… right where their shenanigans were bound to put us.

    Let’s all enjoy the ride!!!!!!!!!!!!!!! Let’s make it as bumpy as the one they took us for!!!!!!!

  26. How much would it take to make my day? Does everyone have a price?…..hmmm the more they might offer the more I would realize they can’t legally foreclose (and are losing their preferred “good guy” status in the courts because judges and attorneys don’t want to risk exposure they are in collusion with “good guys”) and would craft that complaint carefully leaving nothing out and file it boldly. What would it take to take their “deal”? First I would have to find out if my signature would make me a party to their money laudering fraud…..Fool me once I never knew – now though it isn’t a secret anymore……

    What if I just plain don’t want to move anywhere? Can’t they just cancel or void their fraud docs on the public registry including the deed of trust and be done with it? Ok maybe $35,000 or $50,000 or $75,000 in addition to that. Still getting off too easily. No penalties, no damages, no triple fraud damages, no RICO. No jail time. No fraud on the courts or the investors ever disclosed. I might just might and probably would not in the public interest – sign a waiver that I won’t sue over the refi’s – the ones where they never named a trust or assigned an interest to a trust and were never funded that still cloud the title if the truth be told……

  27. I guess the politicians are starting to get the message.

    We The People.

    Never AGAIN

  28. Agree, agree . Don’t take the money . It is “fools gold” !!!! Beware… they bit you once, and now and they are like cornered rats

  29. i still would not take THAT money

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