I do see a bright side to this mess. The states will change their names
back to THE REPUBLICS STATES, instead of their corporation name.
The states own every house in America. In order to re-sell the house. The
state has to wipe away every debit against the house. A clean title
is given, for you to rent or pay taxes for your new home.
All 50 States Launch Investigation In Foreclosuregate, Wall Street Nightmare Becomes Real , page 6
privacy
reply posted on 8-1-2011 @ 07:08 AM by dawnstar
reply to post by 19rn50
the fed gov't put enough money into the bank bailouts to have paid off every mortgage in the country...
they should own the notes!! in which case, since they used taxpayer money, we should own the notes...
I was wondering...
if we went through the hassle of finding everyone who owned part of our mortgage, if that is even possible, and went to those owners and offered them cash for that share, and manage to collect all the bits and pieces, well....
could we go back to the bank on the servicers and tell them to jump? I own my own note, so I don't owe you a dime, get lost???
the fed gov't put enough money into the bank bailouts to have paid off every mortgage in the country...
they should own the notes!! in which case, since they used taxpayer money, we should own the notes...
I was wondering...
if we went through the hassle of finding everyone who owned part of our mortgage, if that is even possible, and went to those owners and offered them cash for that share, and manage to collect all the bits and pieces, well....
could we go back to the bank on the servicers and tell them to jump? I own my own note, so I don't owe you a dime, get lost???
reply posted on 8-1-2011 @ 07:51 AM by crimvelvet
reply to post by dawnstar
There is a bigger game at play here that just Foreclosuregate.
Remember Republicans and Democrats were responsible for passing the laws that set us up for this mess. A list of important banking laws can be found HERE. I list the Foreclosuregate laws at the bottom of this post.
The last time the Banksters collapsed the US economy they stole all the privately held US gold.
So what are they after this time?
Two things. The first is all the money in our pension funds. As one ATS post above states many of the private pension funds invested heavily in the Credit Default Swap and got burned. But that is not enough. “The US government plan is to eventually take ownership of all assets in IRAs and 401K accounts and replace them with US government “Treasury Retirement Bonds
However all of that is just "Fiat Fairy Dust Money" So what are the Banksters REALLY after.
OUR LAND
Over 40% of US land is farmland. Confiscation of this private land has been in the works for years. Information, billl and laws
And if you do not think the bankers are involved you might want to read this World Bank Document
The real tool for land confiscation is the recent triple whammy.
1. The orchestrated real estate collapse:
2. The proposed confiscation of American's personal saving that will prohibit individuals from investing in land.
3. The Food Safety Farce that has just been enacted into law.
This law will remove independent farmers from the land and drive up food prices as the Ag Cartel grabs complete control of our food supply. Please understand farmers have ONE buyer, the Food Cartel who sets the price they will pay the farmer. The spread between farm prices and consumer prices has been widening for years, making the food cartel rich and slowly bankrupting farmers.
This means the added cost of the new regulations can not be passed on to the consumer. Farmers already work an outside job to support their farms. They do not have the extra time or money do deal with these regulations. In 2002 the average age of the principal operator was 55.3. With bewildering piles of paperwork and HUGE FINES coupled with up to ten years in Jail, wouldn't you just give up and retire instead?
The mass media, to lull the suspecions of the masses, says the Tester Amendment will exempt small farms. That is a BIG LIE! The Amendment just directs the FDA to come up with a different set of regs for the small farmer. NO ONE is exempt!
As if that is not enough of a blow the Obamacare law contained a new tax regulation.
Please understand Small Business is what is keeping the USA alive. 17% of US workforce is employed by the Federal government. Over fifty percent work for small businesses. This means less than 30% of the US workforce actually work for large corporations who can handle lots of new paperwork easily.
The IRS requires that you get the EIN or SS# at the time of the transaction, not just at tax-filing time. This means you have to demand good old WALLYMART give you its EIN BEFORE you can buy anything! Of course all of this new found money, estimated at 300 billion, goes to the Banksters to pay the interest on the fraudulent "National Debt" Debt from the Fed loaning the US government thin air.
Can you hear that giant sucking sound? It s the banksters sucking the last drops of wealth from the USA.
It is important to remember the whole "Mortgage Scam" is also completely illegal and outside US laws to begin with. Not only are the mortgages illegal they were FOUND to be illegal in a court of law so the legal precedent has been set.
Unfortunately the US legal system has refused to uphold the law of the land. As one justice said off the record:
The McFadden Act of 1927 or Amendment to the National Banking Laws and the Federal Reserve Act (P.L. 69-639, 44 STAT. 1224): Prohibited interstate banking.
Law: Negating above:
Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (P.L. 103-328, 108 STAT. 2338).
Permits bank holding companies to acquire banks in any state one year Beginning June 1, 1997, allows interstate mergers.
The Glass-Steagall Act or Banking Act of 1933 (P.L. 73-66, 48 STAT. 162): Separated commercial banking from investment banking, establishing them as separate lines of commerce.
Bank Holding Company Act of 1956 (P.L. 84-511, 70 STAT. 133): Prohibited bank holding companies headquartered in one state from acquiring a bank in another state.
Law: Negating both of the above laws:
Gramm-Leach-Bliley Act of 1999 (P.L. 106-102, 113 STAT 1338)
Repeals last vestiges of the Glass Steagall Act of 1933. Modifies portions of the Bank Holding Company Act to allow affiliations between banks and insurance underwriters. Law creates a new financial holding company authorized to engage in: underwriting and selling insurance and securities, conducting both commercial and merchant banking, investing in and developing real estate and other "complimentary activities."
Federal Deposit Insurance Corporation Improvement Act of 1991 (P.L. 102-242, 105 STAT. 2236).
Also known as FDICIA. FDICIA greatly increased the powers and authority of the FDIC. Major provisions recapitalized the Bank Insurance Fund and allowed the FDIC to strengthen the fund by borrowing from the Treasury.
Housing and Community Development Act of 1992 (P.L. 102-550, 106 STAT. 3672).
RTC Completion Act (P.L. 103-204, 107 STAT. 2369):
implement provisions designed to improve the agency's record in providing business opportunities to minorities and women.. Expands the existing affordable housing programs of the RTC and the FDIC by broadening the potential affordable housing stock of the two agencies.
Increases the statute of limitations on RTC civil lawsuits. In cases in which the statute of limitations has expired, claims can be revived for fraud and intentional misconduct resulting in unjust enrichment or substantial loss to the thrift.
Let's just hope that washington doesn't chime in on this, and try to step on the state's toes. Luckily, real estate laws are in the state's domain, I have more faith in them doing the right thing than I do our federal gov't... I'm still waiting for the federal gov't to just make all those illegalities legal with a few strokes of a pen!
There is a bigger game at play here that just Foreclosuregate.
Remember Republicans and Democrats were responsible for passing the laws that set us up for this mess. A list of important banking laws can be found HERE. I list the Foreclosuregate laws at the bottom of this post.
The last time the Banksters collapsed the US economy they stole all the privately held US gold.
So what are they after this time?
Two things. The first is all the money in our pension funds. As one ATS post above states many of the private pension funds invested heavily in the Credit Default Swap and got burned. But that is not enough. “The US government plan is to eventually take ownership of all assets in IRAs and 401K accounts and replace them with US government “Treasury Retirement Bonds
However all of that is just "Fiat Fairy Dust Money" So what are the Banksters REALLY after.
OUR LAND
Over 40% of US land is farmland. Confiscation of this private land has been in the works for years. Information, billl and laws
And if you do not think the bankers are involved you might want to read this World Bank Document
The real tool for land confiscation is the recent triple whammy.
1. The orchestrated real estate collapse:
2. The proposed confiscation of American's personal saving that will prohibit individuals from investing in land.
3. The Food Safety Farce that has just been enacted into law.
This law will remove independent farmers from the land and drive up food prices as the Ag Cartel grabs complete control of our food supply. Please understand farmers have ONE buyer, the Food Cartel who sets the price they will pay the farmer. The spread between farm prices and consumer prices has been widening for years, making the food cartel rich and slowly bankrupting farmers.
This means the added cost of the new regulations can not be passed on to the consumer. Farmers already work an outside job to support their farms. They do not have the extra time or money do deal with these regulations. In 2002 the average age of the principal operator was 55.3. With bewildering piles of paperwork and HUGE FINES coupled with up to ten years in Jail, wouldn't you just give up and retire instead?
The mass media, to lull the suspecions of the masses, says the Tester Amendment will exempt small farms. That is a BIG LIE! The Amendment just directs the FDA to come up with a different set of regs for the small farmer. NO ONE is exempt!
As if that is not enough of a blow the Obamacare law contained a new tax regulation.
Please understand Small Business is what is keeping the USA alive. 17% of US workforce is employed by the Federal government. Over fifty percent work for small businesses. This means less than 30% of the US workforce actually work for large corporations who can handle lots of new paperwork easily.
Section 9006 of the health care bill -- just a few lines buried in the 2,409-page document -- mandates that beginning in 2012 all companies will have to issue 1099 tax forms not just to contract workers but to any individual or corporation from which they buy more than $600 in goods or services in a tax year.
The stealth change radically alters the nature of 1099s and means businesses will have to issue millions of new tax documents each year....
But under the new rules, if a freelance designer buys a new iMac from the Apple Store, they'll have to send Apple a 1099. A laundromat that buys soap each week from a local distributor will have to send the supplier a 1099 at the end of the year tallying up their purchases.
The bill makes two key changes to how 1099s are used. First, it expands their scope by using them to track payments not only for services but also for tangible goods. Plus, it requires that 1099s be issued not just to individuals, but also to corporations.... money.cnn.com...
The IRS requires that you get the EIN or SS# at the time of the transaction, not just at tax-filing time. This means you have to demand good old WALLYMART give you its EIN BEFORE you can buy anything! Of course all of this new found money, estimated at 300 billion, goes to the Banksters to pay the interest on the fraudulent "National Debt" Debt from the Fed loaning the US government thin air.
Can you hear that giant sucking sound? It s the banksters sucking the last drops of wealth from the USA.
It is important to remember the whole "Mortgage Scam" is also completely illegal and outside US laws to begin with. Not only are the mortgages illegal they were FOUND to be illegal in a court of law so the legal precedent has been set.
First National Bank of Montgomery vs. Daly (1969)
Mr. Morgan, the bank's president, took the stand. To everyone's surprise, Morgan admitted that the bank routinely created money "out of thin air" for its loans, and that this was standard banking practice.... In his court memorandum, Justice Mahoney stated:
Plaintiff admitted that it, in combination with the Federal Reserve Bank of Minneapolis, . . . did create the entire $14,000.00 in money and credit upon its own books by bookkeeping entry. That this was the consideration used to support the Note dated May 8, 1964 and the Mortgage of the same date. The money and credit first came into existence when they created it. Mr. Morgan admitted that no United States Law or Statute existed which gave him the right to do this. A lawful consideration must exist and be tendered to support the Note.
The court rejected the bank's claim for foreclosure, and the defendant kept his house. www.webofdebt.com...
Unfortunately the US legal system has refused to uphold the law of the land. As one justice said off the record:
If I let you do that – you and everyone else – it would bring the whole system down. . . . I cannot let you go behind the bar of the bank. . . . We are not going behind that curtain!
BANKING LAWS:
The McFadden Act of 1927 or Amendment to the National Banking Laws and the Federal Reserve Act (P.L. 69-639, 44 STAT. 1224): Prohibited interstate banking.
Law: Negating above:
Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994 (P.L. 103-328, 108 STAT. 2338).
Permits bank holding companies to acquire banks in any state one year Beginning June 1, 1997, allows interstate mergers.
The Glass-Steagall Act or Banking Act of 1933 (P.L. 73-66, 48 STAT. 162): Separated commercial banking from investment banking, establishing them as separate lines of commerce.
Bank Holding Company Act of 1956 (P.L. 84-511, 70 STAT. 133): Prohibited bank holding companies headquartered in one state from acquiring a bank in another state.
Law: Negating both of the above laws:
Gramm-Leach-Bliley Act of 1999 (P.L. 106-102, 113 STAT 1338)
Repeals last vestiges of the Glass Steagall Act of 1933. Modifies portions of the Bank Holding Company Act to allow affiliations between banks and insurance underwriters. Law creates a new financial holding company authorized to engage in: underwriting and selling insurance and securities, conducting both commercial and merchant banking, investing in and developing real estate and other "complimentary activities."
Federal Deposit Insurance Corporation Improvement Act of 1991 (P.L. 102-242, 105 STAT. 2236).
Also known as FDICIA. FDICIA greatly increased the powers and authority of the FDIC. Major provisions recapitalized the Bank Insurance Fund and allowed the FDIC to strengthen the fund by borrowing from the Treasury.
Housing and Community Development Act of 1992 (P.L. 102-550, 106 STAT. 3672).
RTC Completion Act (P.L. 103-204, 107 STAT. 2369):
implement provisions designed to improve the agency's record in providing business opportunities to minorities and women.. Expands the existing affordable housing programs of the RTC and the FDIC by broadening the potential affordable housing stock of the two agencies.
Increases the statute of limitations on RTC civil lawsuits. In cases in which the statute of limitations has expired, claims can be revived for fraud and intentional misconduct resulting in unjust enrichment or substantial loss to the thrift.
reply posted on 8-1-2011 @ 11:04 AM by burntheships
Originally posted by FreeToDecide
Wait a minute. OP started this thread on Oct 2010. What's the current update? It's been swept under the rug!
Not quite concluded at the moment.
We have developments in the last few days....
"The five largest mortgage loan servicers, including Bank of America Corp and JPMorgan Chase & Co may be the first to settle with 50 state attorneys general who are investigating foreclosure practices." It appears these attorneys general were all sequestered and advised of the now-traditional M.A.D. apocalypse that would follow if this latest iteration of Wall Street's corner cutting was pursued by the full extent of the law. In other words what many have claimed is the biggest fraud in MBS history is about to be swept under the rug in exchange for 30www.dailypaul.com...
and this:
Banks Lose Pivotal Massachusetts Foreclosure Case
U.S. Bancorp and Wells Fargo & Co. lost a foreclosure case in Massachusetts’s highest court that will guide lower courts in that state and may influence others in the clash between bank practices and state real-estate law. The ruling drove down bank stocks.
The state Supreme Judicial Court today upheld a judge’s decision saying two foreclosures were invalid because the banks didn’t prove they owned the mortgages, which he said were transferred into two mortgage-backed trusts without the recipients’ being named.
Joshua Rosner, an analyst at the New York-based research firm Graham Fisher & Co., called the decision “a landmark ruling” showing that at least in Massachusetts a mortgage “must name the assignee to be valid.”
www.bloomberg.com...
So it appears that if the banks allow this to go to court, they will lose. Which is why they will settle.
Which is the goverment - IF they allow it - sanctioning the biggest theft in history!
edit on 8-1-2011 by burntheships because: (no reason
given)
reply posted on 10-1-2011 @ 04:34 AM by dawnstar
I ran across a three part article yesterday that seemed to add a little additional information. I had to go back to the author's bio to get the
third portion of the article. It's a long read, but it was interesting, explains the scap, from beginning till now.
www.huffingtonpost.com...
I still say the govenrnent has given the banks more than enough money to pay off all of the morgages in the states....they should take possession of the notes and the deeds....and well, do what they can to recoup as much of the loss, renogotiate with the homeowners, and just disband the mers. There's no reason not to reallly....as it stands now, the investors who bought the cdo's are pretty much screwed now. maybe if the gov't can work with the homeowners now and find something that works, they won't be so screwed.
www.huffingtonpost.com...
I still say the govenrnent has given the banks more than enough money to pay off all of the morgages in the states....they should take possession of the notes and the deeds....and well, do what they can to recoup as much of the loss, renogotiate with the homeowners, and just disband the mers. There's no reason not to reallly....as it stands now, the investors who bought the cdo's are pretty much screwed now. maybe if the gov't can work with the homeowners now and find something that works, they won't be so screwed.
reply posted on 10-1-2011 @ 05:38 AM by 19rn50
reply to post by dawnstar
You have a very good point. We could go further and say the Fed gov has
been abolished. The homes would still belong to the Republics, and yes the
tax payer's. The Republics would sell off the house. Their not making them money
being empty. The Republics need the tax dollars to keep them a float.
We haven't seen the end to this mess yet.
You have a very good point. We could go further and say the Fed gov has
been abolished. The homes would still belong to the Republics, and yes the
tax payer's. The Republics would sell off the house. Their not making them money
being empty. The Republics need the tax dollars to keep them a float.
We haven't seen the end to this mess yet.
reply posted on 10-1-2011 @ 05:50 AM by dawnstar
reply to post by 19rn50
and, I think that it might take an act of congress to clear the deeds to these houses....the chain of ownership has been trashed, the notes, in at least some cases where destroyed (to prevent confusion), and well, the gov't might be the only ones able to put humpty dumpty back together again. mers can just hand the data base over to them, and well, let them figure out who really owns the notes. ....
god knows, most of the homeowners can't find the information. and you know that there's major problems when two different banks want to foreclose on the same house!
and, I think that it might take an act of congress to clear the deeds to these houses....the chain of ownership has been trashed, the notes, in at least some cases where destroyed (to prevent confusion), and well, the gov't might be the only ones able to put humpty dumpty back together again. mers can just hand the data base over to them, and well, let them figure out who really owns the notes. ....
god knows, most of the homeowners can't find the information. and you know that there's major problems when two different banks want to foreclose on the same house!
reply posted on 10-1-2011 @ 07:52 AM by FreeToDecide
Originally posted by burntheships
Originally posted by FreeToDecide
Wait a minute. OP started this thread on Oct 2010. What's the current update? It's been swept under the rug!
Not quite concluded at the moment.
We have developments in the last few days....
"The five largest mortgage loan servicers, including Bank of America Corp and JPMorgan Chase & Co may be the first to settle with 50 state attorneys general who are investigating foreclosure practices." It appears these attorneys general were all sequestered and advised of the now-traditional M.A.D. apocalypse that would follow if this latest iteration of Wall Street's corner cutting was pursued by the full extent of the law. In other words what many have claimed is the biggest fraud in MBS history is about to be swept under the rug in exchange for 30www.dailypaul.com...
and this:
Banks Lose Pivotal Massachusetts Foreclosure Case
U.S. Bancorp and Wells Fargo & Co. lost a foreclosure case in Massachusetts’s highest court that will guide lower courts in that state and may influence others in the clash between bank practices and state real-estate law. The ruling drove down bank stocks.
The state Supreme Judicial Court today upheld a judge’s decision saying two foreclosures were invalid because the banks didn’t prove they owned the mortgages, which he said were transferred into two mortgage-backed trusts without the recipients’ being named.
Joshua Rosner, an analyst at the New York-based research firm Graham Fisher & Co., called the decision “a landmark ruling” showing that at least in Massachusetts a mortgage “must name the assignee to be valid.”
www.bloomberg.com...
So it appears that if the banks allow this to go to court, they will lose. Which is why they will settle.
Which is the goverment - IF they allow it - sanctioning the biggest theft in history!edit on 8-1-2011 by burntheships because: (no reason given)
Thanks for helpful response. Sure keep tab of its development.
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