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BigGovernmentIsGood
ParticipantWalter,
Have you been following the articles on nakedcapitalism.com? That blog has done a good job covering this story. From what I gather, the author of that blog thinks that the trusts may not actually own the mortgage note. She thinks the chain-of-title was broken by MERS.
What happens in that case? What happens to all the payments that were made? What happens if the trust took all of a borrower’s payments and then goes broke?
It seems like there are a lot of potential legal issues to deal with.
ParticipantWalter,
Have you been following the articles on nakedcapitalism.com? That blog has done a good job covering this story. From what I gather, the author of that blog thinks that the trusts may not actually own the mortgage note. She thinks the chain-of-title was broken by MERS.
What happens in that case? What happens to all the payments that were made? What happens if the trust took all of a borrower’s payments and then goes broke?
It seems like there are a lot of potential legal issues to deal with.
ParticipantWalter,
Have you been following the articles on nakedcapitalism.com? That blog has done a good job covering this story. From what I gather, the author of that blog thinks that the trusts may not actually own the mortgage note. She thinks the chain-of-title was broken by MERS.
What happens in that case? What happens to all the payments that were made? What happens if the trust took all of a borrower’s payments and then goes broke?
It seems like there are a lot of potential legal issues to deal with.
ParticipantWalter,
Have you been following the articles on nakedcapitalism.com? That blog has done a good job covering this story. From what I gather, the author of that blog thinks that the trusts may not actually own the mortgage note. She thinks the chain-of-title was broken by MERS.
What happens in that case? What happens to all the payments that were made? What happens if the trust took all of a borrower’s payments and then goes broke?
It seems like there are a lot of potential legal issues to deal with.
Participant[quote=Aecetia]Just to spice things up on this thread: “All the rooms in Jocelyn’s house in Escondido had been painted beige, and the kitchen had been given an overhaul with new appliances and marble countertops. That’s because Wells Fargo & Co. had foreclosed on the property in August, and a new owner, West 11th Trust 356, had purchased the house and made improvements with the intention of putting it back on the market.”
http://www.nctimes.com/business/article_0fd85e5f-4567-51ff-ae53-2f6fd7c95c93.html%5B/quote%5D
I liked this quote:
Pines said he plans to sue everyone involved with the transaction: the real estate brokers, the lenders, the loan servicers, and anyone else he can find. But even more, he’d like to see these same players brought up on criminal charges of fraud.
Things are sure getting exciting. How long does the former ‘owner’ of a home have to reclaim it if the foreclosure was done improperly? It would suck to buy a foreclosed property at what you thought was a good deal only to have the previous ‘owner’ try to evict you because the foreclosure wasn’t proper.
Participant[quote=Aecetia]Just to spice things up on this thread: “All the rooms in Jocelyn’s house in Escondido had been painted beige, and the kitchen had been given an overhaul with new appliances and marble countertops. That’s because Wells Fargo & Co. had foreclosed on the property in August, and a new owner, West 11th Trust 356, had purchased the house and made improvements with the intention of putting it back on the market.”
http://www.nctimes.com/business/article_0fd85e5f-4567-51ff-ae53-2f6fd7c95c93.html%5B/quote%5D
I liked this quote:
Pines said he plans to sue everyone involved with the transaction: the real estate brokers, the lenders, the loan servicers, and anyone else he can find. But even more, he’d like to see these same players brought up on criminal charges of fraud.
Things are sure getting exciting. How long does the former ‘owner’ of a home have to reclaim it if the foreclosure was done improperly? It would suck to buy a foreclosed property at what you thought was a good deal only to have the previous ‘owner’ try to evict you because the foreclosure wasn’t proper.
Participant[quote=Aecetia]Just to spice things up on this thread: “All the rooms in Jocelyn’s house in Escondido had been painted beige, and the kitchen had been given an overhaul with new appliances and marble countertops. That’s because Wells Fargo & Co. had foreclosed on the property in August, and a new owner, West 11th Trust 356, had purchased the house and made improvements with the intention of putting it back on the market.”
http://www.nctimes.com/business/article_0fd85e5f-4567-51ff-ae53-2f6fd7c95c93.html%5B/quote%5D
I liked this quote:
Pines said he plans to sue everyone involved with the transaction: the real estate brokers, the lenders, the loan servicers, and anyone else he can find. But even more, he’d like to see these same players brought up on criminal charges of fraud.
Things are sure getting exciting. How long does the former ‘owner’ of a home have to reclaim it if the foreclosure was done improperly? It would suck to buy a foreclosed property at what you thought was a good deal only to have the previous ‘owner’ try to evict you because the foreclosure wasn’t proper.
Participant[quote=Aecetia]Just to spice things up on this thread: “All the rooms in Jocelyn’s house in Escondido had been painted beige, and the kitchen had been given an overhaul with new appliances and marble countertops. That’s because Wells Fargo & Co. had foreclosed on the property in August, and a new owner, West 11th Trust 356, had purchased the house and made improvements with the intention of putting it back on the market.”
http://www.nctimes.com/business/article_0fd85e5f-4567-51ff-ae53-2f6fd7c95c93.html%5B/quote%5D
I liked this quote:
Pines said he plans to sue everyone involved with the transaction: the real estate brokers, the lenders, the loan servicers, and anyone else he can find. But even more, he’d like to see these same players brought up on criminal charges of fraud.
Things are sure getting exciting. How long does the former ‘owner’ of a home have to reclaim it if the foreclosure was done improperly? It would suck to buy a foreclosed property at what you thought was a good deal only to have the previous ‘owner’ try to evict you because the foreclosure wasn’t proper.
Participant[quote=Aecetia]Just to spice things up on this thread: “All the rooms in Jocelyn’s house in Escondido had been painted beige, and the kitchen had been given an overhaul with new appliances and marble countertops. That’s because Wells Fargo & Co. had foreclosed on the property in August, and a new owner, West 11th Trust 356, had purchased the house and made improvements with the intention of putting it back on the market.”
http://www.nctimes.com/business/article_0fd85e5f-4567-51ff-ae53-2f6fd7c95c93.html%5B/quote%5D
I liked this quote:
Pines said he plans to sue everyone involved with the transaction: the real estate brokers, the lenders, the loan servicers, and anyone else he can find. But even more, he’d like to see these same players brought up on criminal charges of fraud.
Things are sure getting exciting. How long does the former ‘owner’ of a home have to reclaim it if the foreclosure was done improperly? It would suck to buy a foreclosed property at what you thought was a good deal only to have the previous ‘owner’ try to evict you because the foreclosure wasn’t proper.
Participant[quote=Rich Toscano]So, let me get this straight…. you are saying that this scenario:
[quote=BigGovernmentIsGood]
Of course, what they don’t realize is that responsible people will get burned too. Imagine a homeowner that has been paying their mortgage faithfully and on time for several years to criminal bankster A. Criminal bankster B then shows up and says, hey, I actually hold the note, you haven’t been paying me and I’m going to foreclose.
[/quote]…is something that most Piggs would approve of?
Sounds like another one of your trolls…[/quote]
No, I’m not saying that they would approve of it. The prevailing attitude here is that only irresponsible people are getting foreclosed upon. However, that is not always the case.
What I’m saying is that most Piggs probably don’t care whether the rule of law is followed when a borrower who isn’t making their payments gets foreclosed upon. However, if the banksters get away with not following the law and foreclosing on people who aren’t making their payments what is to stop them from then not following the law and foreclosing upon people who are making payments?
Participant[quote=Rich Toscano]So, let me get this straight…. you are saying that this scenario:
[quote=BigGovernmentIsGood]
Of course, what they don’t realize is that responsible people will get burned too. Imagine a homeowner that has been paying their mortgage faithfully and on time for several years to criminal bankster A. Criminal bankster B then shows up and says, hey, I actually hold the note, you haven’t been paying me and I’m going to foreclose.
[/quote]…is something that most Piggs would approve of?
Sounds like another one of your trolls…[/quote]
No, I’m not saying that they would approve of it. The prevailing attitude here is that only irresponsible people are getting foreclosed upon. However, that is not always the case.
What I’m saying is that most Piggs probably don’t care whether the rule of law is followed when a borrower who isn’t making their payments gets foreclosed upon. However, if the banksters get away with not following the law and foreclosing on people who aren’t making their payments what is to stop them from then not following the law and foreclosing upon people who are making payments?
Participant[quote=Rich Toscano]So, let me get this straight…. you are saying that this scenario:
[quote=BigGovernmentIsGood]
Of course, what they don’t realize is that responsible people will get burned too. Imagine a homeowner that has been paying their mortgage faithfully and on time for several years to criminal bankster A. Criminal bankster B then shows up and says, hey, I actually hold the note, you haven’t been paying me and I’m going to foreclose.
[/quote]…is something that most Piggs would approve of?
Sounds like another one of your trolls…[/quote]
No, I’m not saying that they would approve of it. The prevailing attitude here is that only irresponsible people are getting foreclosed upon. However, that is not always the case.
What I’m saying is that most Piggs probably don’t care whether the rule of law is followed when a borrower who isn’t making their payments gets foreclosed upon. However, if the banksters get away with not following the law and foreclosing on people who aren’t making their payments what is to stop them from then not following the law and foreclosing upon people who are making payments?
Participant[quote=Rich Toscano]So, let me get this straight…. you are saying that this scenario:
[quote=BigGovernmentIsGood]
Of course, what they don’t realize is that responsible people will get burned too. Imagine a homeowner that has been paying their mortgage faithfully and on time for several years to criminal bankster A. Criminal bankster B then shows up and says, hey, I actually hold the note, you haven’t been paying me and I’m going to foreclose.
[/quote]…is something that most Piggs would approve of?
Sounds like another one of your trolls…[/quote]
No, I’m not saying that they would approve of it. The prevailing attitude here is that only irresponsible people are getting foreclosed upon. However, that is not always the case.
What I’m saying is that most Piggs probably don’t care whether the rule of law is followed when a borrower who isn’t making their payments gets foreclosed upon. However, if the banksters get away with not following the law and foreclosing on people who aren’t making their payments what is to stop them from then not following the law and foreclosing upon people who are making payments?
Participant[quote=Rich Toscano]So, let me get this straight…. you are saying that this scenario:
[quote=BigGovernmentIsGood]
Of course, what they don’t realize is that responsible people will get burned too. Imagine a homeowner that has been paying their mortgage faithfully and on time for several years to criminal bankster A. Criminal bankster B then shows up and says, hey, I actually hold the note, you haven’t been paying me and I’m going to foreclose.
[/quote]…is something that most Piggs would approve of?
Sounds like another one of your trolls…[/quote]
No, I’m not saying that they would approve of it. The prevailing attitude here is that only irresponsible people are getting foreclosed upon. However, that is not always the case.
What I’m saying is that most Piggs probably don’t care whether the rule of law is followed when a borrower who isn’t making their payments gets foreclosed upon. However, if the banksters get away with not following the law and foreclosing on people who aren’t making their payments what is to stop them from then not following the law and foreclosing upon people who are making payments?
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