62 million forclosure proof homes obama to change law to protect banks

Homeowners’ Rebellion: Could 62 Million Homes Be forecloure proof

im no lawer this is not intended as legal advice please consult a lawyer in your country/state this is for debate and education ONLY

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 makes it impossible for banks to establish their ownership of property titles — and therefore to foreclose on mortgaged properties. The logical result could be 62 million homes that are foreclosure-proof.

link
seekingalpha.com...

The Fundamentals:

In the period beginning in 1999 and ending in March of 2008, Mortgage Electronic Registration Systems Inc., aka MERS, has been named as a "mortgagee" on over 50 million mortgages. Yet MERS has never originated a single mortgage loan nor loaned a dime to a single borrower.

In 2001 the New York Supreme Court ordered the Suffolk County Clerk to accept MERS mortgages for recording as a purely ministerial duty. However the Court denied MERS request for a judgment declaring that MERS mortgages were "lawful in all respects".

The New York Court of Appeals affirmed the Supreme Court's order directing the County Clerk to record MERS mortgages. The Court of Appeals did not reverse the Supreme Court's denial of MERS request for a judicial declaration that MERS mortgages are "lawful in all respects".

link
fightthefraud.com...

as this artical has sprouted up all over the web people are becoming aware of a masive fraud perpatrated by colusion between banks and investers in a scam where people were given morgages from lenders who knew they were going to defult

these morgages were then split from the tittle and morgage contract and sold on to investors. to make it easy to flip the ownership an electronic system was devised to foreclose electronically

this system is acually fraud and courts in 5 states have recognised this and set precident for other states to follow

62 million houses could now be foreclosure proof and obamas only option may be to change the rules on refinancing existing loans or all these morgages would be nulifyed and the ocupent given free and clear tittle on the property

xploder

finally the common man is being protected by the courts to this blatent fraud

i have been gathering case law and court decitions here
www.abovetopsecret.com...

but now beleive obama may be trying to fix the problem in favour of the banks and will try to come accross as the saviour in the eyes of the home owners who have been defrauded

i beleive the best thing to stabilize the housing market is to expose this fraud

please seek legal advice as this thread is for educatioal purposes only

www.globalresearch.ca...

court paperwork on the cali finding
www.msfraud.org...

court paperwork on arkensaus finding
courts.arkansas.gov...

rense link
www.rense.com...
edit to add links

www.conspiracyplanet.com...

www.truth-out.org...

www.msfraud.org...



[edit on 21-8-2010 by XPLodER]

[edit on 21-8-2010 by XPLodER]

[edit on 21-8-2010 by XPLodER]

FLAG THIS TO THE TOP!

This is not what I voted for!

I voted for what I thought was the lesser of two evils, I wanted the wars to stop and not to start one with Iran.

Now we've faked leaving Iraq, leaving behind 50k troops, and moved the rest closer to Iran.

We'll be on 3 war fronts soon, because israel is a baby and can't take care of itself.

I'm pretty sure this is NOT what we voted for, more bailouts like Bush's, and WAR!

[edit on 21-8-2010 by Jeanius]

reply to post by XPLodER


This reminds me of a website called enterprise corruption- or "The Producers". I can't decide! If this is true then can fraud charges be prosecuted?

reply to post by sjorges2002


cant answer your question other to ask another

if 62 million home morgages were fraud and foreclosure proof dont you think some that have already been seized have been done so unlawfully ?

its hard to follow the legalize involved but i think this is indicitive of a much larger pool of morgages that will ultimitly also become fraudulently foreclosed on

imagine owning your own home morgage free 62 million homes could be saved from foreclosure because of the banks and mers own fraud

xploder

reply to post by sjorges2002


as far as i know there are some civil lawsuits going ahead as we speek but i dont think criminal charges will be laid as to many people were involved

xploder

New York-based attorney Susan Chana Lask has filed a federal class action complaint on behalf of tens of thousands of New York State homeowners who lost their homes to an alleged foreclosure fraud orchestrated for years by a New York “foreclosure mill” attorney and major mortgage companies. The case is filed in the US District Court, Eastern District of New York, entitled “Connie Campbell against Steven Baum, MERSCORP Inc., et al.”, Case #10CV3800. It alleges violations of the Racketeer Influenced and Corrupt Organizations Act (RICO), Real Estate Settlement Procedures Act (RESPA) and the Fair Debt Collection Practices Act, and that homeowners paid inflated foreclosure and other fees fictionalized by Baum who profited from the scheme since 2005.

link
nationalmortgageprofessional.com...

this needs to happen all over the country
edit to add maby this will happen all over the country

if stock traders are discusing the demise of mers maby it will callapse under the weight of the fraud it perpertrated on the american dream

When will we see Attorney General Holder open a criminal investigation into this matter? Is there not sufficient question as to whether or not the very existence of these so-called "transfer systems" evidences an enterprise between multiple parties formed for the very purpose of circumventing state law, and that such systems, inherently being formed and operated in interstate commerce, are certainly within the realm of Federal Government jurisdiction.

There are many who will argue that this is "just" a civil matter. I disagree. The intentional creation of these devices as an enabler to alleged value where none exists is not a civil matter. Nor is creating securities where one represents that a particular interest exists for the purchaser, when in fact it does not.

Wake up America - and if the United States AG will not act, then the State Attorneys General must.

In the meantime if you are facing a foreclosure and MERS was involved in some fashion, either in assignment

link
www.istockanalyst.com...

[edit on 21-8-2010 by XPLodER]

"Nearly 50 percent leave Obama mortgage-aid program"

finance.yahoo.com...

I read through the comments on this subject last night. What a scam these people have through!

Just think,this same establishment is going to be in charge of everyone's health care!

This i can tell you for sure:
If the name of the collector isn't on the paper, they can't foreclose.

By bundling the mortgages and putting them into the electronic registry this separated the money collector from the name on the paper.
So the institution that was collecting the money, but who now doesn't hold the paper, can't forclose, and the investors don't hold the paper either because they have been re bundled and are only trackeble through the electronic registry...

So when the time comes to foreclose on the loans the actual lender is difficult if not impossible to ascertain. So, you many ask...how does this benefit me? One of the things you can do when facing foreclosure is to demand that the bank show you the original note, in other words proof that they own your home. They have to prove that they OWN the note (your home). A bank cannot take your home if they have no proof of ownership. This tactic has worked with people who have been sued by credit card companies. The debt from a credit card company has been bought and sold so many times that in many cases the collection agency has no legal proof that they own the debt or that you owe the debt. Without that proof they are NOT entitled to collect it from you.

hubpages.com...

reply to post by XPLodER

I have received a number of reports that “outsource providers” are servicing the foreclosers by creating color copies of documents and submitting them as originals. One report is that the “original” was examined at the courthouse and found to be a printout from a very good color printer. It’s a neat trick and one that has probably worked many hundreds if not thousands of times.

This is in addition to the simple ABC’s of chain of title where these service providers create documents signed in one place, witnessed in another place and notarized in another place purporting to transfer a note, mortgage or obligation. You can usually tell that these were not created on the dates they purportedly show they were executed, if nothing else than by noticing dates or breaks in the chain of title. If Joe Smith owns the note and Mike Jones signs an assignment to Mary Simpson, there is a break in the chain of title. Get it?

link
livinglies.wordpress.com...