Still No Fair Deal for 'Robo-Signing' Victims?

Took loans they couldn't possibly pay? Okay so the bank has all their data. You know stupid things like oh, let's say their INCOME and the bank can check their credit score AND find out whom they owe and how much they owe and what their payments are. Ok? So with all this information at hand, the bank approves the loan? I guess that would be the fault of the bank now wouldn't it???
Also let's say the couple are both working and paying their bills then one of them loses their job. Is that their fault? Maybe they should have foreseen this coming and not taken the loan?

I took a loan I could afford and DID pay, some of these rogue lenders take homes anyways - there are many "deals" and scams going on. In my case, the lender held months of paid funds in escrow accounts, never applied it to the loan. Eventually I had to get the State Attorneys General, federal loan divisions and a real estate attorney involved but everything takes too long to be effective. On top of that, Don, I had prepaid over half of my mortgage in the first year. AND I pay taxes, work at a good job, volunteer nursing services, and give a huge chunk of salary every month to charities. I am so glad you were never made a victim, your life has been perfect. Some of us have been victimized and unfortunately, you think you have us all figured out without even knowing the real story of what's been going on. Many thousands in my state were affected by sham foreclosures, and like me, not delinquent and nearly had their homes paid off. Sometimes the bad guy really is the bank!

And what about the BANKS and LENDERS loaning money to anybody and everyone, and TONS of it, causing huge escalations in home prices!

There are those of us who are victimized by this in very serious way, as in hundreds of thousands of OVERPRICED housing due to loans being handed out like candy.

I guess I should of seen it comming when I bought my house that I would lose my job 5 years later, the open a loss my company a year later.....I was caught up on my mortgage, now am double upside down in value......my house dropped to less than half of what it was when I purchased it. Or I personally know of a family that lost their home after living and paying on it for 20 plus years due to the rob-signing.....then they found out that the the company that foreclosed on it didn't even have the right to, since they didn't own the mortgage, but they then turned around and sold it to someone else, and my friends have still not been given the paperwork of the foreclosure. And that was 2 years ago that they left the house.

Personally these lazy generalizations are getting really OLD. Have you any clue how many people were working AND saving money?? Then, they are laid off work. What do you want from them??? The majority of people are NOT lazy and sitting around enjoying their unemployment while trying to pay bills and feed a family! I, myself am laid off and I am NOT collecting unemployment as I have tried to plan ahead. That doesn't mean everyone is able to do that. I suspect if something happened to you...ie...you were disabled, you would be screaming your head off! My brother was a near fatal motor vehicle accident and was in neuro surgical ICU. It crushed his left shoulder which cannot be repaired so he has no use of his left arm. The trach damaged his vocal cords and he can only speak in a whisper. He has new development of diabetes. He is unable to work. You want money from him too? He doesn't make enough on disbility to survive! My father tries to help him. What if you fell down the stairs tomorrow and fractured your neck? Based on your conversation, I would guess you wouldn't need ANY help. You Sir, have a lot to learn.

Apparently, you choose to ignore the outright fraud committed by financial institutions.

Yes, "Fraud". Capital " F ".

One typical tactic employed was to bury a page containing outrageous interest rate "adjustments" well into the stack of documents, with the proffered rate and terms conveniently superceded.

The banks didn't give a damn about repayment, becuase they knew they would slice and dice MANY mortgages and bundle them into "securities".

CDOs ring ANY bells ?

You DO remember, Collateralized Debt Obligations ? Rated as AAA+ by Fitch, S&P, Morningstar, et al? The fraudulent ratings?

That was CLEARLY securities fraud.

You DO remember the Congressional hearings where Carl Levin forced Goldman Sachs to ADMIT Timberwolf was a "shitty deal ", by using Goldman's OWN quotes ?

You DO remember "robo signing" which is OUTRIGHT FRAUD ?

You DO remember that financial institutions bypassed county clerks recording titles choosing instead to enter these documents in a private system known as MERS ( Mortgage Electronic Recording System ) and consequently broke the chain of title ?

Ah, yes ... "chain of title". You DO know that financial institutions have to prove standing before they try to foreclose?

Since these institutions have BROKEN the chain of title, they can NOT prove standing. ( Yes, this has already been adjudicated in a number of states )

Since financial instutions can NOT prove standing, they can NOT foreclose.

So, you and B o A, et al, can take as many mortgages as you'd like, and cram them.

Crosswise.

You remember the

People with foreclosure problems are not neccessarily freeloaders as so many of you would like to believe. We're currently fighting Chase bank because mom got three months behind when dad died, and despite the fact that we made more then enough money to make the payments, they've railroaded her into foreclosure. We made double payments, they sent them back, we tried paying the full amount due..they sent it back.

And before you start talking about how poor us freeloader's are, I make over 1500 a week take home, and my son (who also grew up in this house built by my grandfather) is a nuclear engineer in the Navy. There is no excuse for these banks, who had no problem taking taxpayer bailouts, to refuse to work with the very homeowners that bailed them out.

And yes, many mortgage companies misrepresented balloon interest deals and various other underhanded means of acquiring mortgages from people the lenders knew wouldn't be able to pay, but without a law degree, the owner's couldn't realize what would happen over time.

Millions of houses have been foreclosed upon, this is clearly not from purely lazy owners, this is a systemic failure on the bank's part, and they should either be forced to work with eligible owners, or be allowed to fail....which by the way is the non-socialist way of doing business.

GO FUCK YOURSELF, ASSHOLE. YOU REPRESENT THE THIEIVES and THE CHEIF THIEF.

BANKERS MANIFESTO

We (the bankers) must proceed with caution and guard every move made, for the lower order of people are already showing signs of restless commotion. Prudence will therefore show a policy of apparently yielding to the popular will until our plans are so far consummated that we can declare our designs without fear of any organized resistance.

Organizations in the United States should be carefully watched by our trusted men, and we must take immediate steps to control these organizations in our interest or disrupt them.

At the coming Omaha convention to be held July 4, 1892, our men must attend and direct its movement or else there will be set on foot such antagonism to our designs as may require force to overcome.

This at the present time would be premature. We are not yet ready for such a crisis. Capital must protect itself in every possible manner through combination (conspiracy) and legislation.

The courts must be called to our aid, debts must be collected, bonds and mortgages foreclosed as rapidly as possible.

When, through the process of law, the common people have lost their homes,
they will be more tractable and easily governed through the influence of the strong arm
of the government applied to a central power of imperial wealth under the control of the leading financiers.

People without homes will not quarrel with their leaders. History repeats itself in regular cycles. This truth is well known among our principal men who are engaged in forming an imperialism of the world. While they are doing this, the people must be kept in a state of political antagonism.

The question of tariff reform must be urged through the organization known as the Democratic Party, and the question of protection with the reciprocity must be forced to view through the Republican Party.

By thus dividing voters, we can get them to expend their energies in fighting over questions of no importance to us, except as teachers to the common herd. Thus, by discrete actions, we can secure all that has been so generously planned and successfully accomplished.