Thursdays LIVE! Click in to the WEST COAST Neil Garfield Show
with Charles Marshall and Bill Paatalo
Or call in at (347) 850-1260, 3pm Pacific Thursdays
Those of us who have lived in or close to the world foreclosures understand that this is merely a game being played by the investment banks and co-conspirators. Except in the rare instance where a transaction with the homeowner has not been subject to false claims of securitization of the transaction, nobody ever intends for the proceeds from the forced sale of property to be paid to any creditor. Unfortunately, homeowners and their attorneys have been unwilling or unable to articulate this critical defense.
Bill Paatalo will discuss on the Show today how hedge funds are creating close to auction time last-minute bogus assignments which allow them to submit false credit bids, taking back the properties into “REO” status. Then, they sell same properties to third-parties for profit, to bypass paying back debt. This allows them to get first dibs on imminent foreclosure properties, gaming the auction system.
Charles Marshall will discuss the latest re the national foreclosure and eviction moratorium, and how the media is downplaying the still cresting tidal wave of foreclosures and evictions, and how market forces in both housing sale and housing and apartment rental markets are being distorted massively.
Filed under: foreclosure |
Bill has become remarkably spot-on – wish he’d start his own shows lasting more than 20 minutes. No sooner than a lot of great info is shared the show’s over . . . this auction scam scheme should be a very key issue discussed on this site – issues that create discreet worm-holes into this entire criminal scheme we haven’t dug into – but could perhaps open entire cans of worms!!! Good show Bill and thanks!