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Axing the Bankers' Money Tree: Homeowners' Rebellion against Wall Street

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posted on Aug, 18 2010 @ 07:59 PM
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Axing the Bankers' Money Tree: Homeowners' Rebellion against Wall Street


www.globalresearch.ca

Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry. A California bankruptcy court, following landmark cases in other jurisdictions, recently held that this electronic shortcut breaks the chain of title, voiding foreclosure. The logical result could be 62 million homes that are foreclosure-proof.

In a Newsweek article a year ago called "Too Big to Jail: Why Prosecutors Won’t Hit Wall Street Hard in the Subprime Scandal," Michael Hirsch wrote that we were unlikely to see trials and co
(visit the link for the full news article)



[edit on 18-8-2010 by XPLodER]




posted on Aug, 18 2010 @ 08:00 PM
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there is a precident set here folks this is going to happen in a wave of people not losing their holmes to preditory banks but instead the banks having no claim to foreclose
the fraud is so wide spread that trying to prosicute individuals is impossable so instead the banks have found the process of flipping tittle using the mers system doesnt allow for foreclosure

FINALLY THE SPIRIT OF THE LAW

JUSTICE to those who were prayed upon in the bigest fraud of all

sub prime foreclosures were a ponzi scheme of unbeleveable proportions and the agency that was used to facilatate the fraud MERS is now a toothless tiger

banks cant foreclose on MERS flipped properties

ALL 62 MILLION OF THEM

finally something happening for the good of the people

my previous op on the subject had no main stream web based back up
www.abovetopsecret.com...

why repost? this is masive news the bigest thing for the average american family ever



www.globalresearch.ca
(visit the link for the full news article)

more websites rense
www.rense.com...

edit to add more links to other sites

[edit on 18-8-2010 by XPLodER]



posted on Aug, 18 2010 @ 08:17 PM
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i have cracked a bottle of wine and am celebration the end of foreclosure in 62 million holmes in the us
this will stablize the housing market the economic market and create jobs for all
the banks suffer but they have no right to put the effects of this morgage lender asisted fraud on the home owner

there are too many to prosicute so to teach a comercial lesson the banks wont forget they cant evict or forcelose the fraudulent loans



XPLodER



posted on Aug, 18 2010 @ 08:24 PM
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Okay...I think I read everything. How do you know if your loan is affected? Is MERS the name of the company on some paperwork or is it something in the background? That wasn't really clear to me. Maybe I missed something. Sounds like this is insane though. I see all the states affected so far, but not mine. Was it a state-related thing?



posted on Aug, 18 2010 @ 08:30 PM
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reply to post by ~Lucidity
 



“This opinion . . . serves as a legal basis to challenge any foreclosure in California based on a MERS assignment; to seek to void any MERS assignment of the Deed of Trust or the note to a third party for purposes of foreclosure; and should be sufficient for a borrower to not only obtain a TRO [temporary restraining order] against a Trustee’s Sale, but also a Preliminary Injunction barring any sale pending any litigation filed by the borrower challenging a foreclosure based on a MERS assignment.”

While not binding on courts in other jurisdictions, the ruling could serve as persuasive precedent there as well, because the court cited non-bankruptcy cases related to the lack of authority of MERS, and because the opinion is consistent with prior rulings in Idaho and Nevada Bankruptcy courts on the same issue.


linky
www.globalresearch.ca...

so far its in about 7 states
i have found references to the following states to add to the list

Massachusetts
Kansas
Arkansas
ohio
florida

ill compile a list of states as fast as i can

xp

[edit on 18-8-2010 by XPLodER]



posted on Aug, 18 2010 @ 08:37 PM
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reply to post by ~Lucidity
 


when a bank makes a loan its money is tied up in that loan so some one thought lets bundle these loans together and sell them as an investment

MERS is an electronic transaction based means of transfering ownership of the debt you owe as a morgage to a third party invester

and it has been used for masive fraud and is so big that individual prosicutions on a case by case basis is imposable

the electronic means of change of ownership breaks the ownership tittle connection and everything after the morgage debt is sold is fraud

the person or bank holding the right to ask for monthly payments on the debt has no legal right to do so

IF THEY ASK FOR PAYMENT its more fraud

the fact that this fraud is interstate means it will encoumpass all of the us

the fraud will end from the banks and up to 62 million houses are on that list



posted on Aug, 18 2010 @ 09:04 PM
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reply to post by XPLodER
 


I'm with the people, if the crooked bankers can play little games and play loose with the law so can ordinary people. They made a big mistake and its going to cost them. But what I see happening before this becomes to much of a bad situation for the banks, is that the federal govt. will come in and make some law that you will still be responsible for the mortgage if it is owned by Fannie or Freddie. And this is because of the fear of investors lawsuits and contractual demand.

“The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual ability of investors in mortgage bonds to require banks to buy back the loans at face value if there was fraud in the origination process.

“. . . The loans at issue dwarf the capital available at the largest U.S. banks combined, and investor lawsuits would raise stunning liability sufficient to cause even the largest U.S. banks to fail . . . .”

www.sfgate.com.../c/a/2007/12/09/IN5BTNJ2V.DTL

The US won't let our banking system go under, they will subvert contractual law and any other law to make sure of that. If you don't believe me, look at what happened with GM, AIG and other bankruptcies that where too big to fail. They threw out decades old bankruptcy law in order to make sure GM and other companies to big didn't go under (and that was because of the massive amount of people that would lose pensions and the massive amount of people losing jobs when the workers and the workers of the companies supplying parts get laid off and/or the companies go belly up from non payment of bills).

I do wish these people the best of luck, but I see it where they will MAKE you responsible for that loan wherever you go house or no house.



posted on Aug, 18 2010 @ 09:07 PM
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reply to post by XPLodER
 


lol yeah I read the linky twice and still didn't quite get it but it's getting clearer with this explanation. So I might not necessarily know, right? Thanks.



posted on Aug, 18 2010 @ 09:21 PM
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reply to post by ~Lucidity
 


i canot coment on legal situations other than to say

if i found myself in this situation i would demand to see the note that enables collection from me my monthly payment

if they could not produce this note it would then be fraud in the states california and tennese if the bank tryed to put my morgage into defult

and untill the correct documentation was produced i couldnt be legally convicted or charged any fees or interest on my morgage untill the time when correct documentation was produced


lawyer sophisticated in this area has speculated to one of the authors that perhaps a third of the notes “securitized” have been lost or destroyed. The cases we are going to look at reflect the stark fact that the unnamed source’s speculation may be well-founded.

UCC SECTION 3-309
Where’s the note, who’s the holder: Enforcement of the promissory note secured by real estate

ex linky

loanworkout.org...

i canot comment on your case as im not an atterny

disclaimer
please contact a lawer on all legal matters as this is a case law debate and not intended as legal advice
no claims made against any author in this thread can be held accountable as this is a legal debate not legal advice

XPLodER



posted on Aug, 18 2010 @ 09:26 PM
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Thanks, again. My house is pretty much paid for...this is for a friend who's about to lose his. I'll have the attorneys check into it.

Just a final thought...the only kind of "revolution" that's has a shot of succeeding is probably financial. This might just be part of that. Now if we could just trash the credit scoring system that has us all imprisoned...



posted on Aug, 18 2010 @ 09:29 PM
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reply to post by ~Lucidity
 


ask them to also check chain of tittle as this should expose weather mers was involved in this morgage

edit to add
send them a link to this website

www.globalresearch.ca

Axing the Bankers’ Money Tree: Homeowners' Rebellion against Wall Street

[edit on 18-8-2010 by XPLodER]



posted on Aug, 20 2010 @ 03:18 PM
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found another artical on a web page

www.conspiracyplanet.com...

same artical new website

xp
and another

and anotherwww.truth-out.org...

[edit on 20-8-2010 by XPLodER]



posted on Aug, 20 2010 @ 03:58 PM
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Even if someone couldn't get a clear title because of this, what is stopping them from just saying screw it and moving to an apartment, leaving the house to be foreclosed. If enough people did that, the banksters would be hurting and no amount of corrupt laws would be able to force people to pay the rest of the loan, especially if they liquidated all of their investments, etc. That's the way to have a financial rebellion, leaving all those big expensive houses empty and the banks reeling.



posted on Aug, 20 2010 @ 04:03 PM
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Originally posted by XPLodER
the banks suffer but they have no right to put the effects of this morgage lender asisted fraud on the home owner


Let me guess, you signed to an Adjustable Rate Mortgage and moved into a house you had no business occupying in the first place. And now you whine about the banks.



posted on Aug, 20 2010 @ 05:37 PM
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reply to post by warpcrafter
 


not sure why you would walk away from a house or morgage that the banks cant legally foreclose on

who does 62 million empty holmes help? not the banks not the other home owners as cheep morgagee sales lower resale value for them as well

fraud is fraud and an epidemic of leander fraud has caused this why saddle the people with the debt? they were preyed upon plain and simple

the foreclosure crisis causes lower prices which makes more people defolt

what do you think the bank gets when it forecloses?
extra govenment money for each house to ofset the loss

what does the owner get ?
XPLOder



posted on Aug, 20 2010 @ 05:53 PM
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Originally posted by buddhasystem

Originally posted by XPLodER
the banks suffer but they have no right to put the effects of this morgage lender asisted fraud on the home owner


Let me guess, you signed to an Adjustable Rate Mortgage and moved into a house you had no business occupying in the first place. And now you whine about the banks.



i have no morgage or home and am not directly effected by any of this i dont even live in america

people have been conditioned to say its your fault for taking on a morgage that you couldnt afford

but that statement implies that the owner knew before hand that they could not afford the repayments

thing is if the person going for the morgage knows this so does the lender

your statement shows fraudulent lending practices by the lender who ultimatly has final say in the deal

these same banks set up a system where they had an electronic method of foreclosing on these same loans and selling of the tittle knowing full well what the outcome would be

foreclosure

the fraud was deliberate and the electronic system didnt comply with existing laws and the lenders did it not the borrowers

the moral compass of the country demands that fraud be punished
how do you punish a whole industry for fraud?

you in force the letter of the law in the cases where lender fraud was evident and that means existing laws
the banks arent legally able to ask for anypayment of any sort untill the fraud is cleared up

so do you think the lenders should be able to commit fraud and lay blame on the person who shouldnt have been greedy?

most people are not lawers or accountants
but the fraudsters knew exactly what they were doing when they commited this pre meditated fraud

deny ignorance and the propaganda that lays the blame on the common man

look for truth

XPLodER



posted on Aug, 20 2010 @ 06:30 PM
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This is great news!!! and funny too

the greatest swindle in history comes full circle and bites the swindlers in the a$$!

you know what ? It almost makes me believe there is a God!

if things continue like this ,I'll be a believer!!!



posted on Aug, 20 2010 @ 06:36 PM
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reply to post by MrsBlonde
 


when the evil becomes to evil
the good become to good

the little guy wins because of the corrupt nature of the banks

lol@banks

xp



posted on Aug, 25 2010 @ 09:54 PM
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Originally posted by ~Lucidity
Thanks, again. My house is pretty much paid for...this is for a friend who's about to lose his. I'll have the attorneys check into it.

Just a final thought...the only kind of "revolution" that's has a shot of succeeding is probably financial. This might just be part of that. Now if we could just trash the credit scoring system that has us all imprisoned...



I was just thinking about that ! It seems to me that sooner or later we all need to get rid of our credit cards en mass that will cripple them or kill them

but the current backlash on credit card holders that can't catch an even break and are having their interest skyrocket when they have been making payments on time ..should get rid of the cards if everyone did that for a month it would change the whole game



posted on Aug, 25 2010 @ 10:16 PM
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reply to post by XPLodER
 


Good find.
S&F



"this electronic shortcut breaks the chain of title, voiding foreclosure."

How delightful. My congratulations to the 62 million families who benefit.




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