JP Morgan forecloses on the US Treasury..

Interesting story to say the least.Goes to tell you the bankers own everything,even the doors to the Treasury.
Source

Recently in Hillsboro, Ore. JP Morgan completed a foreclosure sale on a home that had a tax lien on it. The bank could have corrected this "mistake" by paying the IRS. Instead it claimed that its mortgage was senior to the lien and foreclosured on the Treasury.









Rest of the images can be seen here..
Source

edit on 26-8-2011 by Daedal because: Fix

hmm.. Will this hurt the US Treasury's credit rating?

I feel that one day money and credit will be a thing of the past. The moneterial system has and will always cause problems , suffereing and injustice. I am not concerned about the USA credit rating because I have a feeling in the overall scheme of thing it does not matter. The USA is sunk fincially and not more this counrty can do but set up a brand new system based upon humanity and our needs not profit. The USA is going bankrupt and there are really no fixes. The bankers and the top elite own this country but believe not for much longer.

Originally posted by Daedal
Interesting story to say the least.Goes to tell you the bankers own everything,even the doors to the Treasury.
Source

Recently in Hillsboro, Ore. JP Morgan completed a foreclosure sale on a home that had a tax lien on it. The bank could have corrected this "mistake" by paying the IRS. Instead it claimed that its mortgage was senior to the lien and foreclosured on the Treasury.









Rest of the images can be seen here..
Source

edit on 26-8-2011 by Daedal because: wrong button hit

This is simple law. Heirarchy of claims. The folks that have the collateral get paid first. If there was money left over after the sale, then the treasury would have had next dibs.

In no way did JP Morgan foreclose on the government, they simply won the right to be the first to collect.

edit on 26-8-2011 by sligtlyskeptical because: (no reason given)

The banks, Fed Reseve & TPTB own US and US folk! Period!!!!

Time the US folk woke up and took it back for the people!!!!

Sheeple Suckers!!!!!!!!

Originally posted by sligtlyskeptical
This is simple law. Heirarchy of claims. The folks that have the collateral get paid first. If there was money left over after the sale, then the treasury would have had next dibs.

In no way did JP Morgan foreclose on the government, they simply won the right to be the first to collect.

edit on 26-8-2011 by sligtlyskeptical because: (no reason given)

The Plantiff is JPMORGAN CHASE BANK, NA and the Defendant is USA DEPARTMENT OF TREASURY and the complaint says:

Plaintiffs, JPMorgan Chase Bank, National Association, its successors in interest and/or
assigns ("Chase"), and Northwest Trustee Services, Inc.("NWTS") (collectively "Plaintiffs"), by and through their counsel of record, Routh Crabtree Olsen, P.C. and John Thomas, file this Complaint for Strict Foreclosure on the property located at 767 Northwest Damielie Street, Hillsboro, Oregon

So, yeah, they filed a complaint of foreclosure against the US TREASURY.

I'm wondering if the thread created by cherryontop has anything to do with this?

reply to post by Daedal


I saw these threads and I wondered that, too. JP Morgan getting in a pissing contest with the treasury?

Originally posted by N3k9Ni
reply to post by Daedal

 

I saw these threads and I wondered that, too. JP Morgan getting in a pissing contest with the treasury?

Something seems to be developing out of this.I'd bet that the two are related.

My understanding of the case is that JPMorgan foreclosed on a home in a rather standard foreclosure, with the exception that the IRS, who had a tax lien on the property, wasn't properly notified. This action is to foreclose the Treasury's interest in the property (not foreclose on the Treasury, as much fun as that would be), in effect wiping out the tax lien so that JPMorgan will have clear title.

In Oregon, until 1989, an IRS lien took precedence over every other interest in the property. The change in that law placed the creditors in a "first to file" system.

reply to post by Daedal


Let them bicker amongst themselves JP morgan and the government is far removed from the people. Who cares? I am more concerned with the citzens of the USA. If they fall we can take over and pick up the peices? It may be good overall for humanity of all these elites run themselves into fincial ruin!

I can just see it now. A foreclosure and eviction notice nailed to the front door of the White House. Now that would be something to see.

reply to post by fixer1967

If this were to happen which I doubt would the government/president suddenly realize what it has been like for us the ordinary citzen all along. Now what really would be giving them a taste of their own medicine if all the banks,government and policitans were evicted and foreclosed on. I wish the people could foreclose on them(the banks), they did to us!

reply to post by dreamseeker


We can! It's called a "run on the banks". Go and withdraw all of your so-called "money".

ughhh.

Earlier this evening, just to relieve my insomnia and disgust, I was surfing "Jamie Dimon sucks" (and even did one for "Jaime Dimon death threats" and was surprised -- but glad -- to find multiple Google hits for it!) and there are several websites devoted to bringing down Chase bank....
just do a search, you'll find the links...

That man, and all of his minions, are abominations.

The problem is right now living in this money/credit based economy it is hard to keep cash on hand/ You can't really pay your rent in cash. If I was sure it would make a difference I would do it but millions of people would have to do it to make it effective. If just one person does it; it wont make it harder for the bank but that one person.

reply to post by charles1952


This is what happened. Washington Mutual foreclosed on the home and it was sold at auction. JPM bought the house in auction. There was a IRS lein on the property of which JPM was never informed

In the IRS eyes that lein still exist on the property. JPM says that since it wasn't notified of the lein it should be forgiven which is simply court jargon for being foreclosed upon. This is not a foreclosure to take someone's house but a foreclosure on the right to enforce the lein, which under Oregon state law had preference over Washington Mutual for the foreclosure proceeds.

In simple terms JPM is trying to get out of paying the government what is owed them.

The real question is why is JPM buying houses out of foreclosure when they keep stalling foreclosures on the loans they hold and service? Back door deals between banks to buy each other's foreclosures for cheap? Government money to cover the losses and bank profits when they resell at market value?

I also think that perhaps Washington Mutual is the one that should pay the government.

Originally posted by fixer1967
I can just see it now. A foreclosure and eviction notice nailed to the front door of the White House. Now that would be something to see.

Well you'd need to translate it from Chinese first..

Originally posted by backinblack

Originally posted by fixer1967
I can just see it now. A foreclosure and eviction notice nailed to the front door of the White House. Now that would be something to see.

Well you'd need to translate it from Chinese first..

Good point, I had not thought of that.

reply to post by sligtlyskeptical


Dear sligtlyskeptical,

Thank you very much for setting me straight on some of the points I made, they were clearly wrong and I apologize to all for not double checking my work.

I have one small quibble with your post, however. I'm not sure that the case was initiated to get out of paying the government what it is due. Isn't it rather to determine if the goverment is due anything?

Regardless, thank you again for checking my work.

With respect,
Charles1952