NO PARDON! BANKS FAIL IN GETTING CONGRESSIONAL RELIEF — OTHER OPTIONS PURSUED

Nov 19, 2010

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary

Editor’s Note revised. The lesson of the election of 2010 is clear. Those in power at the time of financial chaos and bad times pay in two ways: they get blamed for the mess whether they created it or not and if they manage to stay in office they will get blamed again if they don’t fix it. The once perceived third rail of foreclosure politics is now changing. People are a lot more interested in seeing their family members employed than they are about whether somebody gets a “free house” or some relief from a deal which is now obviously defective. We are now more concerned with our future than the past and who or how to blame.

We want it fixed. If that means letting the megabanks go down, we don’t care. We know that the correction of obligations created during the great mortgage meltdown to real values from the imaginary ones used at closing will create a far larger jolt for our economy than any current plan on the table. We also know that it is the right thing to do. The only question that remains is whether anyone in power will have the courage to step out and say it.

Editor’s Note: Thanks to this blog and others readers are keeping a watchful eye on Congress. Congratulations! Your work paid off. Members of Congress are getting increasing scared about passing anything supporting the banks — particularly when it absolves the banks of outrageous misconduct that is now well known. The options are getting increasingly limited by the day for the pretender lenders.

They can try to buy their way out with pennies on the dollar settlements with an attorney general of one or more states, but those AG’s are political too. They know that not only are they at personal risk if they are seen as soft on banks, but the ultimate economic future of the state may well depend upon the money extracted back out of Wall Street for fraud, tax evasion and evasion of local fees, fines and penalties and registration requirements. AG’s are frequently ambitious to become Governor.

They don’t want to inherit a financial mess that cannot be fixed. The realization that there are legitimate provable claims not unlike the tobacco litigation that will ease the burden on the states whose wealth was siphoned out by fraud and deception not only gives the state a fighting chance to recover, but also give the AG a powerful political weapon for his or her higher ambitions.

The lesson of the election of 2010 is clear. Those in power at the time of financial chaos and bad times pay in two ways: they get blamed for the mess whether they created it or not and if they manage to stay in office they will get blamed again if they don’t fix it. The once perceived third rail of foreclosure politics is now changing. People are a lot more interested in seeing their family members employed than they are about whether somebody gets a “free house” or some relief from a deal which is now obviously defective. We are now more concerned with our future than the past and who or how to blame.

We want it fixed. If that means letting the megabanks go down, we don’t care. We know that the correction of obligations created during the great mortgage meltdown to real values from the imaginary ones used at closing will create a larger jolt to the economy than any plan on the table. We also know that it is the right thing to do. The only question that remains is whether anyone in power will have the courage to step out and say it.

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BY JOSE SEMIDEY

Thank you always!

we proved today that if we act coherently, we can overcome the odds that were against us.

We need to to the same on the local level. I went to the Loudoun County Court House last week and went to the land records office to do a title search on my house and ten of my neighbors who are planning to file their actions to quiet their title, (their homes are in excess of $1,000,000 each, by the way and the got it as soon as I explained the issues some weeks ago, I told the to do their own research, gave them a few websites to look for that info, Livinglies included, of course). I asked the clerk on duty if all the assignments of any note and mortgage needed to be on the public records and the poor clerk told me he had no idea and did not know the statutes relating to that issue. I also asked him if it was appropriate for our land records office to outsource without payment the recording or lack thereof of the assignments to an obscure computer software or database and have those records vulnerable to electronic fraud, manipulation and all done away from the direct supervision of the Loudoun County Court house, our land records office and the County Government, he responded saying he had no idea that was going on, so I mentioned if he had been recording mortgages in the name of an entity by the name of MERS and he said that he had done so, but he did not know who they were.

I told him that our county is losing money and that the fees were being evaded by the use of this entity and explained what that entity is all about. He was surprised and upset, I offered to do some free training, he asked me to send a formal letter offering the free info to the land records office which I will send by the end of this week.

I mention this because after our efforts these last two days calling, writing, visiting our congress and senate representatives, we must realize that together we can make a real difference. When we get together the other side trembles, that is why they are trying to do every thing under the sun to keep our voices from being heard.\

We must not stop raising our voices, let us push our state AG’s to do what is right and not settle with the crooks. we need them to do their jobs and to lay the ground work for ur to fight our fights. We need to write to the chief judges in all our states and let them know we are watching their every move and decision, that we are looking for the rule of law to return to America.

we need to start moving in the direction of our local legislatures, state legislatures, city and county councils. we need to make them aware and to educate them as to what has really been happening.

How about taping our phone calls to the servicers and give copies to our AG;s so they see how we are being treated by those debt collectors?, just make sure you comply with your state laws. What is good for the goose is good for the gander!!

WE ALL CAN MAKE A DIFFERENCE!!

WE ARE THE REAL CHANGE!

MAKE SURE YOU KEEP CALLING YOUR REPUBLICAN REPRESENTATIVES AND START CALLING TO THEIR ATTENTION THAT WE ARE GOING TO TRACK THEIR VOTES AND THEIR RECORD AND THAT WE WILL NOT FORGET WHAT HAPPENED TODAY WITH h.r.3808.

Posted in bubble, Corruption, Eviction, securities fraud |