Mildread, the ponzi schmers, like Fannie and Freddie are PROFESSIONAL SCAMMERS AND SWINDLERS…….THERE IS ANOTHER NAME FOR THAT PROFESSION AND THOSE WHO DO THESE THINGS, THEY ARE A CRIME SYNDICATE, COMMITTING CRIMES LIKE USING AN “ENTERPRISE” WHO BY — USE OF “RACKETEERING ACTIVITY” HAS OBTAINED AND IS TRYING TO COLLECT AN “UNLAWFUL DEBT” AQUIRED BY LOAN SHARKING OR ILLEGAL GAMBLING ACTIVITIES AS WELL AS SECURITIES FRAUD/FINANCIAL FRAUD .. THEY ARE WHITE COLLAR CRIMINALS COMMITTING CRIMES PROSECUTABLE UNDER RICO.

Fury, they are even telling buyer beware, do not buy a fraudclosure at auction without consulting an attorney……The risk does exist that the homeowner comes back to claim his stolen house….and I don’t think they outweigh any benefits whatsoever…..These people are gaming and gambling on buying fraudclosures, the stolen homes of the American people….and hoping they don’t get caught….This is just more scamming and gambling by all involved…

There is always a sucker who will pay $1 for $5 grab bag worth of goods.
Case in point: house sold new in 2002 for $800K, REO sale is $400K. People will take a chance on something like that. Gamblers everywhere. Most people losing their homes have no money left to fight against the system to reclaim their house. That is why the only chance we have is to sway public opinion, stir people up, make them angry enough to demand responsibility from the banks who are destroying their property values even if they are not in default..

You are correct, disclosure is everything. The rest is the small print above where you sign your name on a contract. A contract binds, assumes that you read the small print and agreed to it. Your closing attorney does not read it to you at the closing. He probably didn’t know what lay ahead anyway. Almost everyone connected to this fiasco is part of the problem, some innocently and others with intent to defraud. Even people in the real estate business did not comprehend what could happen through the system the banks set up in securitized products. It was a sweet deal for them. They could bundle up the loans, increasingly junked up with subprime trash, and pass them off to investors, retaining servicing, holding nothing in their own portfolio of risk. They retained servicing rights and fees, etc. Talk about having your cake and eat it too!
If we had seen it coming we might have known what to avoid but people don’t tell you their scams. Banks handed money to the players, loan originators and morgage brokers got rich during this period. The banks didn’t print on closing documents, “this contract is designed to remove your rights and confiscate your home.”

Contract small print is biting many of us now in discovering MERS is our trustee and we can’t discover who owns the rights to foreclose. Not even the law is consistent on that point. One state recognizes MERS, another may not. MERS is a sham that should be exposed for what it is, just a database to shield the banks, accepting no responsibility or charges. People were set up for failure on the front end, duped in their own ignorance. Had we known this would be the massive problem we have today, things may have been different. Even the banks, I venture to surmise, would have done things differently.

I was a little young when the S & L crash happened-not around for the great depression but wasn’t it all bad real estate loans by banks and S & Ls? Didn’t Greenspan say recently that we would visit this type failure again in the future, maybe 20-30 years from now? It skips a generation as people forget how innovative the banks are at making money off of the ignorant and poor. Maybe the banks have met their Waterloo this time around or maybe they will slither away to play another day!

MILDREAD WATKINS, IF YOU ARE AN ENTITY, LIKE FANNIE OR BOFA YOU CAN STEAL HOMES FROM PEOPLE ONLY IF THE PEOPLE DO NOT KNOW THEIR RIGHTS OR THE LAWS THAT HAVE BEEN PUT IN PLACE TO PROTECT THEM….I NEVER LEAD ANYONE TO BELIEVE OTHERWISE….THEY DID IT TO MY BROTHER-IN-LAW BUT THAT DOES NOT MAKE WHAT THEY DID LEGAL………..I AM CLEARLY WARNING PEOPLE YES, THEY CAN STEAL YOUR HOME ILLEGALLY FOR AN UNSECURED DEBT IF WE ALLOW THEM TO…..AND THE PEOPLE WHO HAVE HAD THEIR HOMES STOLEN FROM AND SOLD FROM UNDERNEATH THEM ILLEGALY CAN STILL COME BACK AND FIGHT FOR THEIR STOLEN HOMES AND MONETARY DAMAGES……….THIS IS THE UNITED STATES OF AMERICA, NOT NAZI GERMANY……………………….

Yeah Mildred and the fact is that can come back and bite the purchaser in the ass….Do your research……Did you hear or read on this website how the FBI called a home purchaser on the phone and told the purchaser of a fraudclosure that he will soon have to leave because the home was sold to him on a CLOUDY TITLE AND THE PREVIOUS OWNER WAS GOING TO BE GETTING HIS HOME BACK…….IF YOU WANT TO CALL ME OUT YOU BETTER HAVE THE CAHONES TO DO IT DIRECTLY TO ME…..DON’T BE EVASIVE WITH YOUR THE COMMENT ABOVE REMARK……….FORECLOSURE COMPLAINTS BROUGHT ON CLOUDY TITLE ARE ALSO ILLEGAL…THE TRUTH IS MILDREAD, PEOPLE DO NOT KNOW THEIR RIGHTS OR THE LAWS THAT HAVE BEEN PUT IN PLACE TO PROTECT THEM……..THE TRUTH IS BEING HIDDEN FROM THE PUBLIC….AND THAT HAS RESULTED IN FEDERAL CRIMES BEING ALLOWED BY JUDGES TO BE COMMITTED ON THE AMERICAN PEOPLE IN CIVIL COURTS………….
MILDREAD, TELL YOUR OWNERS WE THE PEOPLE ARE COMING TO GET THEM…….AND DON’T GIVE ME YOUR SEMI RETIRED BULLSHIT,,,THE ENTIRE MORTGAGE INDUSTRY HAS BEEN DESTROYED BY ALL OF THE TBTF MORTGAGE FRAUD PONZI SCHEME…
GO BACK TO SCHOOL……………..IF YOU BELIEVE FANNIE MAE YOU ARE LOST…….YES THEY CAN STEAL AND SELL HOMES ON CLOUDY FRAUDULENT TITLES IF WE LET THEM…………………THAT DOES NOT MAKE IT LEGAL…….IT IS STILL A CRIME…FRAUD IS FRAUD……

Just had to weigh in on this. It is critical that those of us who post on here try to:
a. be careful of the way we state things if we have any professional connection
b. readers take into account that most posters are regular consumers like yourself and therefore, while people mean well and are trying to help each other, it is critical that you fully understand and research things which are stated in posts.

I am writing specifically because of the statement above which says you can’t sell or BUY anything with no chain of Title or Note.

The truth is that you can. and many, many thousands of people have. What you CAN”T do is provide a clear chain of title. YET you can

BUY –without a clear chain–IF you are a consumer who does not understand the need for proof of
a clear chain of title
–IF you accept the terms of the contract from the REO–with the mice print–
which says you are buying the house at your own risk
–IF you believe that because a bank is making the loan, and a REALTOR or
attorney is involved that your interests are being protected
— IF you believe that because you get ‘a title policy’ that you are covered with-
out understanding that there are TYPES of title coverage–one type protects
the lender/one type protects YOU the buyer SOME offer little to no
protection at all.
–IF you have buyer title coverage but chain of title issues are EXCLUDED
you are still up **** creek

You can SELL a house without clear title–
— If you are an entity (Fannie Mae, HUD, Bank, etc)
— IF you have disclosed and the buyer has signed indicated they understood
they were getting a jacked up deed (sheriff’s , special warranty, trustee’s
deed) which have no warranties–by anyone
–IF you can find someone who is looking at the killing they are making on
the deal who has not been paying attention to the development of this
mess over the past few years.

I am semi-retired and taking care of my mother now.
All I ever needed to learn about foreclosure fraud, title misrepresentation, and HOW to sell things with unclear title I learned as a FORMER FANNIE MAE BROKER FOR 2 1/2 YEARS.

lies, I am afraid there are traitors in our midst. These politicians don’t care about us. They are working for the enemy, the New World Order. They should all be forced to resign because there is an UNCONSTITUTIONAL CONFLICT OF INTEREST working inside of our own Government and Judiciary….