by Matt Weidner on IRS Form 938 Sometimes this all becomes a bit too overwhelming, trying to unravel this whole foreclosure cataclysm.  This is so far beyond the simple situation where a borrower borrows money from a bank and doesn’t pay….that bank is clearly entitled to their money back. I’m a fairly bright guy with a good education and a…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

Submitted by Bob Hurt STATE OF FLORIDA OFFICE OF THE ATTORNEY GENERAL DEPARTMENT OF LEGAL AFFAIRS ______________________________________ ECONOMIC CRIMES INVESTIGATIVE SUBPOENA DUCES TECUM “You,” “Your” or “DOC X” as used herein means DOCX, L.L.c. and any of the respondents, their agents and employees or any “affiliate” of the aforementioned entities, as that term is herein defined. Your agents include but…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

Wall Street Journal In any case, analysts say the efforts could force banks to disclose difficult-to-obtain information about the loans, such as how poorly they might have been originated or are being managed. Some investors "had no idea that their money was being invested in mortgage-backed securities," said Mr. Franklin. "And yet somehow these people are now the ones being…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

From one of our readers Please see this link:  www.azag.gov/press_releases/oct/2010/Mortgage%20Loan%20Servicer%20Letter.pdf which is a letter from the AZ AGs office put out this past week. It has been suggested that anyone with a foreclosure issue call or visit their office and explain to them the fraud that has been perpetrated through their mortgage documents. Below is a paragraph that I received…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

SEE mers_rec_foreclosure_proc_after_move[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

See also Genie Out of the Bottle --- Kwak-- Baseline Scenario See also more-evidence-of-bank-fubar-mortgage-behavior-florida-banks-destroyed-notes-others-never-transferred-them.html See Also diana-farrell-and-the-white-house-theory-of-bank-size Editor's Comment: It must be emphasized that what the banks are being forced to "buy back" is not the loans, it's the mortgage bonds at face value because there were no loans in the pools. The banks may try to maintain the illusion…[...]

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Posted in bubble, Corruption, Eviction, securities fraud |

COMBO Title and Securitization Search, Report, Documents, Analysis & Commentary see also Fraud or Inaccuracies? VIDEO OK, let's assume that the "paperwork mess" can be seen as isolated in a vacuum --- that it wasn't caused by the absence of assets conforming to the requirements of the securitization documents. Let's further assume that we waive a magic wand and allow…[...]

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Editor's Comment: Rick explains here how each loan was used multiple times. He's right, I think, that legally the borrower does not owe anything on the NOTE. But the obligation remains under that scenario under some theory of law or equity, probably unsecured. see http://gonzalolira.blogspot.com/2010/10/second-leg-down-of-americas-death.html by Rick Humphreys The Foreclosure Mess "Homeowners can only be foreclosed and evicted from their…[...]

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Politics is such a touchy subject so I figure I should offend just about everyone to be fair. The state of our economy is bad and our prospects are getting worse no matter what anyone tells you. Take a look at Japan for a sneak preview of where we could end up if you think this election isn't important enough…[...]

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EDITOR'S NOTE: Read this carefully and you start to understand that the paperwork is no trivial matter as the Wall Street Journal editors want to say on behalf of the financial services industry. Priority of liens and the foreclosure procedure contains multiple features that can be used by borrowers Stay alert. Show up ON TIME at the auction, you  might…[...]

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