Foreclosures on People Who Never Missed a Payment
Yves Smith: Mortgage service industry makes more money from foreclosures than restructuring debt…
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Yves Smith Interview | Foreclosures on People Who Never Missed a Payment
Yves Smith: Mortgage service industry makes more money from foreclosures than restructuring debt…
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This movie will explain this whole mess in 30 minutes.
http://demopedia.democraticundergrou…ess=385×541144
Mortgage Servicers making more money from foreclosures than on restructuring the debt can nearly always (90%) be proven to be a violation of the PSA compromising the remaining perfect performing loans left in that investment portfolio.
Securitization Fraud by the originating lender and felony mortgage fraud committed by the current mortgage servicer is going to continue to be the “catch-all” foreclosure attack defense in 2011.
Having to educate State and Federal Judges is an outrageous consequence for persons that you would think should know better than even homeowners and defense attorney.s
Politicians and Regulators have failed America miserably. Judges can line up right behind those scoundrels.
(Saw a manger scene this Christmas. JPMorgan Chase was presumably trying to foreclose on it… Banker spokesman allegedly said, “We never foreclosed on any baby Jesus mangers that didn’t deserve it…”)
OK, just kidding… JPMorgan Chase hasn’t been caught foreclosing on any mangers –
yet…
Happy Holidays from your friends at the National WAMU HOmeowners Support Group!
Good morning Yves:
I read and appreciate all of your good work. I have a question for you regarding the spate of fraudulent foreclosures and the potential for reversal. What impact do you think that it will have on title. Do you think that the original homeowner will be given back the house, or will the new buyer stay and the original owner will sue the lender and everyone else involved?
Thanks for any thoughts, and have a Merry Christmas and a Happy New Year.
Mike