Having worked in the RE industry for about 15 years, I acknowledge there are crooks out there in both the lending and RE industries. On the other hand, most practitioners at the purchaser/seller level are hardworking, often for not much over minimum if that with no guarantees, who make a reasonably fair wage for a pretty difficult job. I have observed many foreclosed homes in the past couple years. The condition in which they were left was astonishing. Having originally been linvolved on the list side of a recent one (sale in 06), I could not believe the hundred thousand plus worthy of theft and damage done to the house when it came back on the market–kitchen cabinents gone, pavers gone, hardwood floors gone, hot tub gone, two back up energy systems gone. Walls smashed, carpets pooped and peed on (according to home inspector, NOT ANIMAL by products. ) The house was sold for an honest price, the loan was an honest loan and no misrepresentation was made. I do not know what difficulty the buyers had 5 years on but it certainly was not the bank’s fault.

Yes, there are some really messed up things out there, the loan modification and shortsale processes are completely broken to the point where I will not work with either because they are far too uncertain, the banks are not upfront and are capricious, they change personell on a daily basis, are not responsive, do not meet their own deadlines–the list is endless. But, that is no excuse for buyer failure. You were thrilled when you got the loan, now you are unhappy? Let’s hear how invested you were in the home you lost. Then we will decide of the bank screwed you or not.

Good going! The more and more we are in the face of the press, hopefully, the more people will sit up and take notice including our lame politicians and legal system. We all need to continue to pass information and letters, postings and stories to anyone and everyone. We need constant press attention because the louder and more noticed we get the more nervous the politicians, bankers and legal system will get. As more of the main stream journalists start poking around and the fraudsters and their cohorts try to cover this scandal up..it will be inevitable that they will trip themselves up and eventually be standing out in the open public completely naked and exposed! Hopefully, they will begin to feel the heat. We can’t let them prevail…we just can’t.

Thank you for your support: I have since posted this numerous times at Zero-Hedge.com, CNBC.com, Marketwatch.com, PBPost.com, SunSentinel.com and sent to Ron Paul, Rand Paul, Ted Deutch, Jim Waldman, Chris Whalen, Jesse Ventura, Dylan Ratigan, David Stockman, so thanks for the “push”!

Lynne did a fantastic job. i loved the giant exhibit boards that show the fraud.

the online extra, “60 Minutes Overtime” was good as well.

i think that very homeowner in America will be tossing and turning tonight thinking about
Scott Pelley saying that you could pay your mortgage for 30 years and at the end find out you can’t get the title.

what is tremendously sad is that so many of us have been living this nightmare for so long without
others really getting it. millions have lost their homes due to fraud.

M

Congrats !

Pls. ignore the spelling errors in my post above. One more point….with this many financially distressed citizens….who will keep the economy wheel going. The elite class can’t possibly sustain the enitre US economy meaning loss of more businesses and thus more jobs. What kind of world do you see for the future generations if left to continue this way?

Your worring about possibly raising interest rates and all the things that can happen going forward? This country is sinking to the bottom of the ocean with past, present and future foreclosures causing housing values to freefall and some neighborhoods sit half empty and decaying. Families will be living in “tent” communities, so where will these buyers come from that will have to pay “higher” interest rates? You worry about having to pay more in bank fees and charges. Most credit card interest rates are about equal to that of loan sharking….are you serious? People are losing jobs, gas and housing fuel prices cost what an average mortgage cost 10 years ago and the top bank execs have their own compounds all over the world…are you serious? Companies are laying off or lowering pay and benefits while everything else goes up, up and up…are you serious? Banks are hiding behind viels to avoid paying taxes to towns and cities where the revenue is desparately needed for schools and other vital services…are you serious? Please either get your head out of the sand and really look around or get yourself deprogrammed….as you are one of the “good” brainwashed doobies. No matter what measures are used to stop our country’s freefall…there will always be those that feel the measures used were not fair. Please…I think your arguments and pity for the banks will not be well received on this site. You must be one of the very lucky ones who have not been affected by this economy or bank fraud, or just maybe you’re one of the priviliged few with their own little compound somewhere out there. Just my opinion.

It is imperative that as many homeowners loose their houses, otherwise the bogus counterfeit shadow loans cannot be readily covered up, as those bogus loans are hovering in virtual cyberspace waiting to strike the titles of a huge number of properties.
14 to 45 trillion in bogus mortgages waiting to strike.
No liens on record. YET!
Who owns YOUR loan, VS’s: who has a mortgage(s) on your home? THE BANKS DO NOT KNOW HOW MANY LOANS ARE ON YOUR HOME! LET ALONE WHO OWNS THOSE MORTGAGES!