Sick Of Paying Your Mortgage? You May Not Have To Pay!, page 3

ZeroHedge found a Citi document on scribd talking about this mess. Denninger referenced it at Market Ticker and it seems as bad as I think it could be.

In the best-case scenario, the banks are lying (again) and it will take a year to sort out (during which time they will bleed like a stuck pig on their servicing costs and obligations.) In the medium scenario they get sued to Mars and, which he didn't say but I will, all wind up eating the bad paper which forces them into resolution - shareholders are wiped out and bondholders take a nice chop-chop. And in the worse-case scenario the title companies say "fuggit" and it all blows up instantly.

From MarketTicker

Alleged Citigroup document on Scribd

Make sure you read the document on Scribd. That is apparently the summary of a conference call that included a Law professor that Citigroup had this week.

reply to post by OutKast Searcher

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Hindsight is always 20-20, but before all of this mess started coming out, how many of us knew how crooked the banks really were? Very few people knew what was going on behind closed doors and didnt start questioning the big banks until AFTER thigs started going south. So yes you are right in saying those people 'VOLUNTARILY' walked into those agreements, but how many knew that the banks were overly taking advantage of people and their situations for money (or better yet GREED), so I say, screw them like they screwed us, or do people just feel good enpowering those who enslave us. After all, when people are being unfairly taking advantage of they tend to revolt, and its usually for something better, I could see this scenario likening to a bank revolution, let them know that since their actions were qustionable at best, we have the right to turn the tables on them.

Look at it this way, the justice system expects you to know all of the laws, so as not to break them, and knowing that most people cant, wont, or are incapable of learning every law (even lawyers need libraries to keep up with all of the laws) they know they have a steady source of income. The banks acted the same way, they knew most people would be unable to check every aspect of their life to monitor exactly where they were being taken advantage of, and capitalized on that fact.

Every human cannot be expected to know every little thing about every little aspect of life and its various business practices. If we did, we would all be completely independent simply because we would know everything about everything, and thus have no need for our fellow brethern to assist us, or excel in a particular area.

Do you check out everything around you and how it comes to be a part of your life? Question everything, how your food is manufactured, where your gasoline comes from, where your taxes go, how they calculate the taxes you pay, how safe is your vehicle, do your children go to a good school, is there a child predator hiding among the little leauge spectators, what is the pollution like in your area, it would be literally impossible to satisfactorily research every aspect of our lives and be confident in our decision making choices.

These last 2 paragraphs were to abate the argument of 'knowingly walking into a situation', it was just an unfair scharade to begiin with, so nobody really owes them anything if they cant even produce what it is that you owe them.

And just for curiosity purposes, how do they re-obtain a mortgage note that they already sold-off. Buy it back from the investor to sell again? That just doesnt make sense to me, didnt they already get their money owed on the mortage when they sold it in bundles in the first place? and shouldnt it be the responsibilty of the new owner of the note to seek collection?

Originally posted by phishfriar47
reply to post by OutKast Searcher

---

Hindsight is always 20-20, but before all of this mess started coming out, how many of us knew how crooked the banks really were? Very few people knew what was going on behind closed doors and didnt start questioning the big banks until AFTER thigs started going south. So yes you are right in saying those people 'VOLUNTARILY' walked into those agreements, but how many knew that the banks were overly taking advantage of people and their situations for money (or better yet GREED), so I say, screw them like they screwed us, or do people just feel good enpowering those who enslave us. After all, when people are being unfairly taking advantage of they tend to revolt, and its usually for something better, I could see this scenario likening to a bank revolution, let them know that since their actions were qustionable at best, we have the right to turn the tables on them.

Look at it this way, the justice system expects you to know all of the laws, so as not to break them, and knowing that most people cant, wont, or are incapable of learning every law (even lawyers need libraries to keep up with all of the laws) they know they have a steady source of income. The banks acted the same way, they knew most people would be unable to check every aspect of their life to monitor exactly where they were being taken advantage of, and capitalized on that fact.

Every human cannot be expected to know every little thing about every little aspect of life and its various business practices. If we did, we would all be completely independent simply because we would know everything about everything, and thus have no need for our fellow brethern to assist us, or excel in a particular area.

Do you check out everything around you and how it comes to be a part of your life? Question everything, how your food is manufactured, where your gasoline comes from, where your taxes go, how they calculate the taxes you pay, how safe is your vehicle, do your children go to a good school, is there a child predator hiding among the little leauge spectators, what is the pollution like in your area, it would be literally impossible to satisfactorily research every aspect of our lives and be confident in our decision making choices.

These last 2 paragraphs were to abate the argument of 'knowingly walking into a situation', it was just an unfair scharade to begiin with, so nobody really owes them anything if they cant even produce what it is that you owe them.

And just for curiosity purposes, how do they re-obtain a mortgage note that they already sold-off. Buy it back from the investor to sell again? That just doesnt make sense to me, didnt they already get their money owed on the mortage when they sold it in bundles in the first place? and shouldnt it be the responsibilty of the new owner of the note to seek collection?

reply to post by queenofsheba

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Can you be more specific on what you are saying 'yes' to. I dont want to assume you were referring to me when you werent, and I would like to know if you were responding to my post so i can respond in kind. I got the impression you were saying 'Yes, I check everything out in my life, especially my mortgage because it was so important'. I would also like you to explain your viewing of the other parts of my post, i think its a little more complicated than just a yes i thoroughly checked out my bank. Also, I am curious as to if you retained the assistance of a lawyer in the matter of said mortgage. I would tend to look at lawyers as criminals as well, its actually a nice little racket the justice system has going. Make laws that take peoples freedoms and make so many of them that they need the assistance of third party interpreters-like lawyers (gotta look out for the pockets of the ones electing and doing business with the judges behind closed doors), and ultimately get money for the state and federal government as well as looking out for their own personal interpreters (again the lawyers, and when have you known it to be a regular practice for lawyers to do massive amounts of pro-bono work, i always thought they became lawyers specifically for the money---i think thats a pretty accurate stereo type in this instance)

Is anyone else beginning to see how EVERYTHING in our life is tied together in one big cluster-f**k. Between just the banks and the justice system, those are 2 pivitol institutions that are participating in criminal activity, how many other major institutions are doing the same? FDA and Big Pharma? Federal Reserve? War on Drugs? War on Terror? Global Warming? Military Industrial Complex? Can anyone guess who has their hand in all of the things I mentioned---------Governemnt----------thats who? So my deductions point me in the direction of them being the criminals and unfortunately i dont feel like i owe a criminal anything, much less any more of my hard earned money. So when you lay in bed with criminals (Its hard to argue that banks and government werent sleeping together) expect to be treated like a criminal, and dont expect the innocent to owe you a damn thing


On a side note, in case i misinterpreted your post, I dont mean this as a personal attack on you, this response was made 'assuming' that was your reponse, and was posted because i know there would be somone out there to defend the position i argued against anyway. Also, for the record, I enjoy playing devils advocate even if my reponses dont fully reflect my own personal opinions or beliefs.

So..... Obama refused to sign HR 3808, and "pocket vetoed" it instead. source

"Interstate Recognition of Notarizations Act" would have given banks authority to create any document they want, and get it notarized, and a court would have to accept it!

They were trying to pull a fast one! The bill slips through the Senate and House quietly and goes to Obama's desk and sits there. Then the news breaks about the banks creating fraudulent documents.

Boy oh boy... I'll bet the banks are really mad at Obama now. Pretty guttzy thing to do Obama!

Originally posted by sodakota
So..... Obama refused to sign HR 3808, and "pocket vetoed" it instead. source

"Interstate Recognition of Notarizations Act" would have given banks authority to create any document they want, and get it notarized, and a court would have to accept it!

They were trying to pull a fast one! The bill slips through the Senate and House quietly and goes to Obama's desk and sits there. Then the news breaks about the banks creating fraudulent documents.

Boy oh boy... I'll bet the banks are really mad at Obama now. Pretty guttzy thing to do Obama!

This is probably the only thing I will ever give Obama credit for.

Funny thing is how a pocket veto is basically letting a bill sit on the desk and "expire." Maybe Obama should just consider doing nothing for the remainder of his term and maybe something good will come out of it.

reply to post by Blaine91555

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-Your credit will be ruined.

definitely not true
this is the entire idea behind the process of bankruptcy
i know plenty of folks who defaulted on loans and still have everything that you said would be lost

-You will be evicted.

this could or could not happen
i have been living in the same place for the past year rent free and BOA holds the note on the place that i have a lease on
the original owner defaulted but i cannot be kicked out

since i knew the original owner i knew that he defaulted a year ago and i stopped paying rent to HIM

if someone is an owner then the original note has to be shown before the eviction process starts and then the individual has 90 days to get out after being served with the note stating that the eviction process has started

and it must be sent to said lessee or owner via certified mail

if its not certified its not legal

once the eviction notice is given and recognized by certified mail then the said individual has 30 days

this is a small price to pay for taking back what was just stolen from all of us US citizens in my opinion

-You won't be able to get a credit card.

definitely not true

ask anyone who knows the credit game

its all about the credit score and people can have a bankruptcy and a default on their record and still have a 700 credit score

the score is based upon what the credit agencies think that a person is able to continually pay in a month

and hospital bills and student loans are rarely if ever scrutinized

-Liens will be placed on what you do own.

You have absolutely no idea what you are talking about

Liens are only placed upon someone in very dire circumstances and rarely if ever does it happen on a defaulted loan

This statement is poppycock

The rest of what you say is drivel

PEOPLE I AM LIVING PROOF THAT THIS IS REAL AND CAN BE EFFECTIVE IF GONE ABOUT CORRECTLY

The only people that are missing out are the people with LOTS of money

Start the revolution

But do it with intelligence

Hit em where it will hurt the most

In their wallet

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