Borrowers Don’t Count — But False Claims of Losses Count Multiple Times

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What Goes to the Banks Stays With the Banks

Even if the Payment was on the Debt owned by Another

There have been dozens of deals with law enforcement and regulatory agencies. There have been thousands of settlements with individual homeowners sealed under confidentiality. Why do they not work for everyone?
The answer is obvious — borrowers don’t count. And the reason they don’t count is the uninformed view that borrowers took the loans and should repay them — even if the loans are NOT in default, are paid off in full to creditors, and the claimants who keep getting money from all sides and from all directions without any demand for accounting.

It is the policy of this country that the full brunt of the cost of the mortgage crisis should be borne by borrowers. We are imposing an ideology over the facts, ignoring the absurdity of the consequences, and compounding both past evil and greasing the tracks for the banks to serve as the collection point for payments covering losses that never occurred (to the banks).

These payments include taxpayer direct bailouts (Bush’s TARP), indirect bailouts (Bush-Obama public-private Maiden Lane deals), direct private payments from  servicers (while declaring non-payment from the borrower), direct private payments from insurers who were bailed out using taxpayer dollars, direct private payments from credit default swap counter parties who were funded by Taxpayer bailouts from the U.S. treasury and foreign treasuries, and indirect credits from other exotic credit enhancements.
THAT MAKES 6 distinct sources of payment received by the banks IN ADDITION TO THE DIRECT PAYMENTS FROM BORROWERS AND INDIRECT PAYMENTS FROM BORROWERS WHO GAVE UP TITLE AND POSSESSION TO HOMES ON WHICH THE CREDITOR WAS PAID IN FULL AND THERE WAS NO DEFAULT.

Even Borrowers can’t get their brains around the possibility that they accepted a loan that was paid off using their tax dollars and financial relationships enabled by the ignorance of both the creditor investor who actually loaned the money and the ignorance of the Buyer.

In all cases the investors are sitting with the alleged loss due to so-called defaulted mortgages. In no case have the banks loaned money in any securitized loan. In no case have the banks paid any money to buy the loans. In all cases the risk of loss was left with the creditor investor. In all cases, the Banks collected the payments, the bailouts, the insurance proceeds, the CDS proceeds etc. In no case have the banks even admitted the receipt of more than $17 trillion on defaults that at most were valued under $3 trillion. In no case have the banks been required to provide a full and fair accounting.

Instead, the banks and servicers have completely controlled the narrative portraying borrowers as deadbeats wanting to get out of a valid debt when what these brewers want is a modification based upon realistic numbers in a fair Market on a fair playing field — one which recognises that the inflated appraisals of yesteryear were the responsibility of the banks that ordered those appraisals with express instructions as to what value must be attached to the property if the apprised ever wanted to work again as an appriser.

What goes to the banks, stays with the banks.

There are rarely payments of more than a pittance paid to the creditors from their agent bankers.
The banks withhold money received because (a) they mean to keep it and (b) they mean to declare a non-existent default in order to create the appearance on an economic reality in which foreclosure is proper.
Add to that the “credit bid” the banks submit in lieu of cash payment at the bogus foreclosure sales, and you end up with the banks taking all of the money from investors and homeowners and all of the property from the homeowners whose debt has long since been paid.

This validation of economic crimes worthy of life sentences on Wall Street. Instead, we continue the attack on the middle class and poor thus defiling our own reputation and undermining the nation’s ability to recover from what could have been a temporary debasement of our currency and prospects.

It is axiomatically true that no nation has survived severe income inequality — because for wealth inequality to get that extreme the freedoms in the marketplace must be replaced by bullies. The nation of laws that keep a society intact is replaced by the law of men. Thus is born both the new Aristocracy and the new seeds of social revolution.

25 Responses

  1. This posting is on point.

    Would any of you readers feel comfortable sending payments to an outfit that is an MBS trustee-bank—the kind named as plaintiff in foreclosure suits–or buy MBS as to which this entity is the trustee:

    Take a deep breath and read the following quoted material off a bank website that describes the loan list and status of loans supporting the MBS held by investors as to which this entity is SUPPOSED TO BE A FIDUCIARY;

    IN NO EVENT WILL WE BE LIABLE FOR ANY DAMAGES, LOSSES OR EXPENSES, INCLUDING WITHOUT LIMITATION, DIRECT OR INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, ARISING IN CONNECTION WITH THIS WEBSITE, THE USE HEREOF OR RELIANCE ON ANY INFORMATION CONTAINED HEREIN, EVEN IF WE KNEW OF THE POSSIBILITY OF SUCH DAMAGES, LOSSES OR EXPENSES.

    To protect the innocent from disparagement lawsuits, lets just call this “The Bank of POTTER”

    Thoughts anybody–is there a class action here somewhere by somebody?

  2. PRESS RELEASE–IF YOU ARE GOING TO DO THE FREE FORECLOSURE REVIEW–THEY’VE EXTENDED THE DEADLINE

    http://www.scribd.com/doc/81710589/YOU-HAVE-TIL-JULY-31-2012-FOR-THE-FREE-OCC-FORECLOSURE-REVIEW

    BE CAREFUL IN SIGNING THEIR FORMS. MINE HAD THE WRONG LOAN NUMBER ON IT…NOT THE LOAN NUMBER IN MY LOAN DOCUMENTS…AND THEY WANT YOU TO SWEAR TO THE TRUTH…SO I SAID IN A LETTER ..YOU WANT ME TO LIE ABOUT THE LOAN NUMBER!! IT IS NOT MY LOAN NUMBER.

  3. How are they doing it? Getting a settlement? Thousands of them? Who has the secret?

    Any answers welcome.

  4. NO dopes on this site E. Tolle! tu

  5. You’re wrong keepon….you’re bright. Very.

  6. So Mr. DeMarco:

    Something smells kind of funcky. You were the fella who testified you needed to pay high salaries to attract ‘the kind of talent required by your agency.’ More $ than even the President of the U.S., you said.

    And you’re only an ‘acting’ head of FHFA, so, you can’t be fired. Who do we suppose built that into your position? Even better: Why?

    Who was it told you, ‘Ed. All you have to do is stand here, don’t move a muscle, and ‘hold that line.’ Now who would pay a Prince’s Ransom for that kind of ‘talent?’

    And that part about protecting the Peoples’ interest? Also stinky. You could have been a big hero and probably participated in the settlement discussions if you really had the People & the Nation at heart.

    But the part I really don’t get is your obstruction of principal writedowns. To protect the People, but take EVERYbodies’ pension instead? It’s sounding like you’re really ‘not caring’ about people not in foreclosure; you’re taking their pensions. Those in foreclosure? Well, you’re taking both, I guess, their homes and their pensions. And the food and gas prices? I won’t even go there. So, I coming up just a tad short on how you figure your plan helps the People. I’m not very bright, but you’ve already said that.

    So don’t you feel bad now. Lot’s of people do stuff without really thinking it through. But Ed, my neighbors are going to be really pist with me! I know, you really didn’t think about that part; did you?

    Still, I’m puzzled. Who would pay a Princes’ Ransom for your kind of ‘talent?’

  7. @javagold, yes this is what I am in the process of doing, try to take my house and you will pay as I have done nothing but bring up the value to live in a home that is probably worth 50K if that yet bought for much more so yes I will play the game and yes they will play the game so bring it one big boyzzzzz and yes I rent parts of it out to make ends meet due to job income declining as I have become retired age but still working my butt off for less money and they continue to play with our live like mad animals on a nasty day so yes we can/are and will get it, let the games begin I am so ready so very ready, now to file suit on the banksters, again this is in process, once the audit is done I will go further if it takes my last penny. I am no longer afraid, or scared or angry just more educated and so very ready for them oh that brings to mind ….what was it Obummer said when running for the almighty VERY WELL PAID BY THE PEOPLE position of prez “YES WE CAN” SO TAKE IT TO your BANK PEOPLE!!!! INVEST IN YOURSELF LIKE YOU NEVER HAVE BEFORE Oh YES WE CAN!!!!!! take our lives back NOW.

  8. “Thus is born both the new Aristocracy and the new seeds of social revolution.”

    The sooner we get there (and God knows I don’t enjoy fighting but, apparently, this is the only thing we will have left…) and the sooner we’ll be able to rebuild this once-great country. If our government refuses to understand it peacefully, it will have to understand it some other way.

    Oh! Damn it! I keep forgetting that little thing about China… Never mind. Our government is intent on waging a war and banks need all the money they can put their hands on to finance it.

  9. Well, most of the “borrowers” just want(ed) a fair shake. The rest of us would like to see the bastards hang and get our money back.

  10. This was just filed in Washinton State by an attorney from Olympia Shawn Newman whom is trying to help homeowers in this state. Find this on web site. Mortgage Servicing Fraud” (The one with Forum on it.)
    AMICUS BRIEF in Bain v. Metropolitan Mortage et al

  11. “borrowers don’t count”

    What portion of the population is made up by “borrowers”.?

    To whom don’t they count? The emperor has no clothes. Just stop borrowing (already happening)…… but stop paying immediately.

    Wonder how that will “count” up. (This is coming from someone who has always paid everyghing on time).

  12. I have a severe issue with the statement above about the banks getting $17 trillion, followed by the need for borrower modifications. The first part so wildly eviscerates the second part that it drowns in its own bloody folly. It would be laughable save for the fact that people are dying and undergoing extreme hardships.

    Screw the banks. Spring is coming, and it’ll soon be time to take this debate to the streets. We’ll see for sure whether we have a government for the people, or for the banks. We know the answer, but exposing in broad daylight all the puppet-strings will force the issue big time. United States Government, what’s your choice?

    Graft, or Republic?

  13. Here found an easier way for you to veiw everything. Go to
    http://www.cloudedtitles.com.

  14. Sorry it went twice. Not all the article is attaching correctly. The copies of the donators from Crabtree foreclosing entity are not attaching.

  15. The Clouded Titles Tour is coming to Seattle and Portland in late February (see this website for details) … and just when you thought things weren’t “juicy” enough …

    (Seattle) – Washington Attorney General Rob McKenna has a lot of political connections. One looking at this scenario at a glance wouldn’t be a bit surprised that some of those political connections are the very entities that have allegedly trashed chains of title in the land records in every county in the State of Washington and are the focus of AG investigations. Many in the AG’s office, like Assistant Attorney General Jim Sugarman, have been hit with numerous consumer complaints about errant trustee behavior in the way foreclosures are handled.

    It should come as no surprise then to examine McKenna’s required campaign contribution filing for September 30, 2011 to see some of his so-called “campaign contributors”. Then ask yourself, what in Hades is going on here?

    David Fennell is Senior Counsel for foreclosure mill Northwest Trustee Services … and …

    Northwest Trustee Services is owned by the law firm of Routh-Crabtree-Olsen … so it should come as no surprise to see partners and attorneys from this law firm in the AG’s “back pocket”:

    Then, obviously because there may be a campaign contribution maximum … it appears the spouses of the partners and attorneys are also getting involved (match the addresses … and go figure):

    For those of you doing the math, that’s $13,800 in contributions from people connected to the trustee service that is being sued for wrongful foreclosure and other RCW 19.16 violations in the State. Trying to buy political favor? Perhaps. But then again, this is politics right? The figures speak for themselves.

    Meanwhile, the author will be in Washington State just prior to the upcoming hearings in the Bain vs. OneWest Bank et al case by the Washington State Supreme Court (March 15, 2012), holding seminars in Tukwila and Portland to discuss some of the factors being considered in these hearings; whether to consider MERS (Mortgage Electronic Registration Systems, Inc.) to be a valid beneficiary under the Washington Deed of Trust Act. If the Supremes rule against MERS, it could spell the undoing of tens of thousands of foreclosures in Washington and send a ripple effect across the hinterland for other states to consider. Then again, with suits against MERS already taking center stage in nine states, it should come as no surprise that MERS counsel will vigorously oppose its expulsion from the “game” in Washington State and will certainly be expected to make its presence known during the hearings.

    CLOUDED TITLES AUTHOR GUEST LECTURES AT COUNTY AND DISTRICT CLERKS CONFERENCE, COLLEGE STATION, TEXAS:
    January 17th, 2012

    By Dave Krieger

    “MERS 101”
    The event was sponsored by the V. G. Young Institute School for County and District Clerks in conjunction with the AgriLife Extension division of the Texas A & M System and the V G. Young Institute of County Government. Two separate lectures were given by the author at 3:00 and 4:10 p.m. to county and district clerks from across the State of Texas.

    My mental database of knowledge on this subject matter had to be condensed into an information-packed hour, which included video deposition testimony of a robosignor and a piece done by MSNBC that featured Essex County, Massachusetts Register of Deeds John O’Brien, (salemdeeds.com), who refers to his land records as a “crime scene”, discussing the issues involving the bank’s taking shortcuts through third-party service providers and committing fraud on the land records with documents that have been deliberately manufactured without the knowledge of the facts attested to by the person signing and the allegations that the notaries that witness the signatures of those executing the documents are often not present at the signings.

    Out of 254 Texas counties, nearly two-thirds of the clerks representing the land recordation systems in the State of Texas showed up for the lectures and at certain points in the lecture, jaws literally dropped at the information presented (especially that of the robosignor who admitted he had no idea what an “Assignment of Mortgage” was, after admitting he signed hundreds of them an hour).

    I was surprised (especially in the second session) at the number of clerks (elected officials) who had no idea who MERS was. The first session however, was just the opposite. Very few district court clerks attended the sessions; however, those who did came to the understanding that they may have to bone up on Order of Publication with the upcoming wave of quiet title actions expected to be filed in the next decade, along with slews of §51.903 motions.

    My lecture, which also included interactive Q&A, produced many legitimate questions about the sources of the recordations; to quiet title; to the liability of title companies; to the fraud on the documents found in land records all across America. I encouraged all of the clerks to direct their legal questions to their county and district attorneys, as I cannot (as a paralegal) render legal advice. (Much of the information shared with the clerks was taken directly from the new, updated version of Clouded Titles, soon to be released.)

    Afterwards, some county clerks came up to me and thanked me profusely for the information; one clerk showed me a letter he dug out of his files that was directed to a legislator from the clerk concerning the legitimacy of the MERS recordation system. Another clerk came up to me asking me for the styling of a quiet title action filed in her county so she could look it up. I told her that she may want to check on the records as to conformation to the Texas Property Code (as some of the documents in that particular case were suspect for robosigning issues). I got to see many new faces in addition to some familiar ones (who I’ve previously been working with).
    My take on MERS’s continued existence in the State of Texas is that there is a huge groundswell of support to repeal legislation that gives MERS any authority to record its deeds of trust in this State. The legislation that gave MERS the right as a “nominee” to record in this “permissive recording” state was enacted in 2003 and took effect January 1, 2004 and was authored by outgoing State Representative Burt Solomons. Many clerks were quite surprised that this legislation (merely by adding a definition) made it “under their radar” and many were visibly upset.

    The lawsuit filed by Dallas County District Attorney Craig Watkins against MERS and MERSCORP was removed to federal court (there are no federal questions in the complaint according to lead attorney Steve Malouf) and we can expect to see it tied up in multi-district litigation, a typical ploy of MERS to further stall the cases filed against it. All of the county clerks were made aware that this class-action-style suit involves all 254 counties and they were told to bring the matter to their county attorneys for follow-up (filing a motion for leave to intervene, according to the way Steve Malouf put it, to make the county part of the representative class). Several counties in Texas have already vowed suit against the private electronic database.

    All in all, I was quite pleased at the turnout. It leaves open the door for more interaction with the clerks, both in legislative sessions and in private consultations about their specific land records. One thing is for sure, those clerks who are aware of MERS don’t like it and don’t want it around anymore.

  16. Heres why we possibly dont get results by our AG’s.
    WASHINGTON STATE GOVERNOR’S RACE IS PRODUCING SOME AS-EXPECTED RESULTS
    February 7th, 2012

    By Dave Krieger (Op-Ed Piece)

    The Clouded Titles Tour is coming to Seattle and Portland in late February (see this website for details) … and just when you thought things weren’t “juicy” enough …

    (Seattle) – Washington Attorney General Rob McKenna has a lot of political connections. One looking at this scenario at a glance wouldn’t be a bit surprised that some of those political connections are the very entities that have allegedly trashed chains of title in the land records in every county in the State of Washington and are the focus of AG investigations. Many in the AG’s office, like Assistant Attorney General Jim Sugarman, have been hit with numerous consumer complaints about errant trustee behavior in the way foreclosures are handled.

    It should come as no surprise then to examine McKenna’s required campaign contribution filing for September 30, 2011 to see some of his so-called “campaign contributors”. Then ask yourself, what in Hades is going on here?

    David Fennell is Senior Counsel for foreclosure mill Northwest Trustee Services … and …

    Northwest Trustee Services is owned by the law firm of Routh-Crabtree-Olsen … so it should come as no surprise to see partners and attorneys from this law firm in the AG’s “back pocket”:

    Then, obviously because there may be a campaign contribution maximum … it appears the spouses of the partners and attorneys are also getting involved (match the addresses … and go figure):

    For those of you doing the math, that’s $13,800 in contributions from people connected to the trustee service that is being sued for wrongful foreclosure and other RCW 19.16 violations in the State. Trying to buy political favor? Perhaps. But then again, this is politics right? The figures speak for themselves.

    Meanwhile, the author will be in Washington State just prior to the upcoming hearings in the Bain vs. OneWest Bank et al case by the Washington State Supreme Court (March 15, 2012), holding seminars in Tukwila and Portland to discuss some of the factors being considered in these hearings; whether to consider MERS (Mortgage Electronic Registration Systems, Inc.) to be a valid beneficiary under the Washington Deed of Trust Act. If the Supremes rule against MERS, it could spell the undoing of tens of thousands of foreclosures in Washington and send a ripple effect across the hinterland for other states to consider. Then again, with suits against MERS already taking center stage in nine states, it should come as no surprise that MERS counsel will vigorously oppose its expulsion from the “game” in Washington State and will certainly be expected to make its presence known during the hearings.

    CLOUDED TITLES AUTHOR GUEST LECTURES AT COUNTY AND DISTRICT CLERKS CONFERENCE, COLLEGE STATION, TEXAS:
    January 17th, 2012

    By Dave Krieger

    “MERS 101”
    The event was sponsored by the V. G. Young Institute School for County and District Clerks in conjunction with the AgriLife Extension division of the Texas A & M System and the V G. Young Institute of County Government. Two separate lectures were given by the author at 3:00 and 4:10 p.m. to county and district clerks from across the State of Texas.

    My mental database of knowledge on this subject matter had to be condensed into an information-packed hour, which included video deposition testimony of a robosignor and a piece done by MSNBC that featured Essex County, Massachusetts Register of Deeds John O’Brien, (salemdeeds.com), who refers to his land records as a “crime scene”, discussing the issues involving the bank’s taking shortcuts through third-party service providers and committing fraud on the land records with documents that have been deliberately manufactured without the knowledge of the facts attested to by the person signing and the allegations that the notaries that witness the signatures of those executing the documents are often not present at the signings.

    Out of 254 Texas counties, nearly two-thirds of the clerks representing the land recordation systems in the State of Texas showed up for the lectures and at certain points in the lecture, jaws literally dropped at the information presented (especially that of the robosignor who admitted he had no idea what an “Assignment of Mortgage” was, after admitting he signed hundreds of them an hour).

    I was surprised (especially in the second session) at the number of clerks (elected officials) who had no idea who MERS was. The first session however, was just the opposite. Very few district court clerks attended the sessions; however, those who did came to the understanding that they may have to bone up on Order of Publication with the upcoming wave of quiet title actions expected to be filed in the next decade, along with slews of §51.903 motions.

    My lecture, which also included interactive Q&A, produced many legitimate questions about the sources of the recordations; to quiet title; to the liability of title companies; to the fraud on the documents found in land records all across America. I encouraged all of the clerks to direct their legal questions to their county and district attorneys, as I cannot (as a paralegal) render legal advice. (Much of the information shared with the clerks was taken directly from the new, updated version of Clouded Titles, soon to be released.)

    Afterwards, some county clerks came up to me and thanked me profusely for the information; one clerk showed me a letter he dug out of his files that was directed to a legislator from the clerk concerning the legitimacy of the MERS recordation system. Another clerk came up to me asking me for the styling of a quiet title action filed in her county so she could look it up. I told her that she may want to check on the records as to conformation to the Texas Property Code (as some of the documents in that particular case were suspect for robosigning issues). I got to see many new faces in addition to some familiar ones (who I’ve previously been working with).
    My take on MERS’s continued existence in the State of Texas is that there is a huge groundswell of support to repeal legislation that gives MERS any authority to record its deeds of trust in this State. The legislation that gave MERS the right as a “nominee” to record in this “permissive recording” state was enacted in 2003 and took effect January 1, 2004 and was authored by outgoing State Representative Burt Solomons. Many clerks were quite surprised that this legislation (merely by adding a definition) made it “under their radar” and many were visibly upset.

    The lawsuit filed by Dallas County District Attorney Craig Watkins against MERS and MERSCORP was removed to federal court (there are no federal questions in the complaint according to lead attorney Steve Malouf) and we can expect to see it tied up in multi-district litigation, a typical ploy of MERS to further stall the cases filed against it. All of the county clerks were made aware that this class-action-style suit involves all 254 counties and they were told to bring the matter to their county attorneys for follow-up (filing a motion for leave to intervene, according to the way Steve Malouf put it, to make the county part of the representative class). Several counties in Texas have already vowed suit against the private electronic database.

    All in all, I was quite pleased at the turnout. It leaves open the door for more interaction with the clerks, both in legislative sessions and in private consultations about their specific land records. One thing is for sure, those clerks who are aware of MERS don’t like it and don’t want it around anymore.

    Las Vegas TV reporter finds out he doesn’t legally own the foreclosed home
    December 1st, 2011

    Las Vegas TV reporter finds out he doesn’t legally own the foreclosed home he bought 3 years ago

  17. @ Javagold

    That is a great idea. Gonna look into it right away.

    The reason most walk away, in my opinion, fear, lack of knowledge, cannot afford competent legal representation…and why would a lawyer take $5,000.00 when they can make $100,000.00 to mill the foreclosures out by the thousands.

    Doing the right thing is a lost concept. Lying, cheating, stealing and intimidation are the new order.

  18. […] See the original article here: Borrowers Don’t Count — But False Claims of Losses Count Multiple Times […]

  19. HAVE A COMPLAINT ABOUT A FEDERAL JUDGE’S MISCONDUCT?
    HERE ARE RULES AND FORM.

    http://www.scribd.com/doc/81494462/Judicial-Misconduct-Complaint-Form-the-Rules

    –be pondering, the federal judges have retirement plans and most are managed by Blackrock. Blackrock handles the Maiden Lane ‘toxic’ MBS….and other MBS investments

  20. Don’t forget the conservatorships of Fannie and Freddie.

  21. I see it this way; the banks and the government are one and the same. The government is getting all of our money one way or another; and those in banking, wall street, and politicians get rich beyond belief. As I’ve said, GSM. It was a brilliant scheme that the legal system is terrified to touch. The foreclosures will escalate, the gov is now in cahoots with huge corps buying up the foreclosures and turning them to rentals; gov get more tax revenue from renters; everybody’s lovin life except for us..the poor schmuck deadbeats funding it all through our blood sweat and tears. Ain’t life grand..

  22. joann,

    You are dead on. This is a story about the ‘deals’ not allowing the borrower to COMMUNICATE with the true creditor/lender. If deal was paid off somehow then fine. If money is owed then fine. Investors would gladly write down losses in return for assurances to continue to pay etc.

    No investor tries to collect or pretend they have a $50 stock when the stock price is transparently listed on the exchange at $25. They may be willing to sell at $25 and cut losses or hold out. Investors are used to that.

    Similarly no real investor would try to say they have a $500k loan owed them on an asset worth $250K. They understand the value of the collateral. Again, the investor can decide to cut losses or mitigate losses or hold out or whatever.

    With the design of this system, atleast in a judicial state, I think that the ONLY thing a borrowed can do because the Wells Fargos don’t let us communicate with the supposed true creditor is hire a lawyer and trash our perfect credit and just not pay. At some point down the line the damage gets back to the investor or some computer program pops up and the real negotiations begin.

    The only small good thing is that the good lawyers are FORCING the true creditors via standing issues etc to come forward. Slowly but surely.

    But yes the power is held by the PIMCO’s no doubt about it and they are starting to sue etc.

  23. Headline: Banks get “penalized” 8.5 billion dollars by Florida AG, who turns around and uses the money to fund Civil Courts in order to expedite foreclosures

    You just can’t make this stuff up!

  24. Sleeping giant investors wake up when their pocket books get hit. Pimco speaking up today re investors paying for “settlement”.
    http://stopforeclosurefraud.com/2012/02/13/pimco-25-billion-foreclosure-deal-to-hit-pensions-harder-than-banks/

    Wouldn’t it be interesting if they simply said – wait a minute – we don’t own those assets anymore or wait a minute – we never got delivery or ownership of those goods we paid for……or wait a minute we already wrote down the principal….

    Seems like there could be a way to align themselves with homeowners right now and expose the accounting misdeeds of middle parties – focus on the accounting funny business (ie paperwork funny business).

    Pimco among others has my cusip in their portfolio and various investor lawsuits list my trust. My payment history and bogus recorded docs might actually give them a bit of insight (hard to believe – investors have no access to loan files). They have the clout and resources to do it where homeowners do not.

  25. people should be putting liens on their own houses to protect all the upgrades and payments they have in the houses ….i never understood, even before the fraudclosure scam came to light, how people would walk away and leave anything but 4 walls and a roof

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