Stay Put and Become a Squatter in Your Own Home

Follow the law
Wall Street and its co-conspirators on Main Street had a great plan.

Step 1: Ram predatory loans down the market with fraud and deceptive marketing.

Step 2: Some of the loans will blow up, but in the aggregate it will all work out and besides, the loans will be bundled and sold off to investors (spreading the toxic waste), so who cares?

Great plan, but it had a few problems.

Problem #1: It destroyed the world financial system (minor detail)

Problem #2 (And he's where it get VERY interesting...) For a loan to be valid, the lender needs to be able to produce the paperwork.

Guess what?

In their mad greed to screw the American people and line their own pockets, Wall Street forgot that little detail.

Many of these loans and been sliced and diced and sold and re-sold so many times that not only is the paperwork not easy to lay hands on, in some cases, it's not clear who actually owns the loan.

Here's where property law comes in.

If the bank can't produce the documents and the real owner of the loan can't be identified, the contract is null and void.

You've got to hand it to Congresswoman Marcy Kaptur (and Ohio which produces a lot of great Congresspeople.)

By telling a bank to "produce the note," a homeowner can delay foreclosure by forcing the lender to prove the suing institution is actually the same which owns the debt.

Now, the banks own sloth and disorganization (and inherent dishonesty) can be used against it.

Final word: The media (and Wall Street and its criminal partners in Congress and the former Bush White House) love to call these loans sup-prime.

Here's the old fashioned word: predatory.

Many of the loans that were made in the past five years that have created so many problems would have been illegal until Bush & Co not only gutted lending laws, but also literally sued states to stop them from enforcing their own lending laws.

Former governor Elliott Spitzer was the ring leader of the state movement to enforce local lending laws...and you saw what happened to him.

He's no saint (and truth be told, he's kind of a jerk) but if every politician who went to hookers was busted, Washington and all the state capitals would be ghost towns

Category:

News & Politics

Tags:

• home
• foreclosures
• Wall Street
• bailouts
• assets
• Washington
• Bush
• law
• illegal
• Elliot Spitzer
• dishonesty

[CRELLIOTT0302]

ALL REVOLUTIONS ARE LEGAL. WE HAVE THE RIGHT TO REVOLT, SO LONG AS THE PEOPLE ARE THERE TO UPHOLD THEIR RIGHTS!!!!

[crowdaddy13]

let that be our bailout.......im sure the american people wouldnt mind being tossed a 200k house, while their CEO gets a 2 million $ bonus

[KennyMassey]

legal revolution is an oxymoron. if anything the people did hurt the state or big business then they would make it illegal and fight it. SqUaT your fucking houses fuck the system and fight back

[apsales73]

In April? You do know that, LEGALLY SHE CAN NOT YET BE KICKED OUT. It takes no less than 12 months.

[1misanthropist]

I had a usda-rd home loan. My income got cut down, couldn't make the payments years later down the road , but I was told they would give me a " reemerization" which would get me caught back up. Told me to wait a few months till they send me a new payment plan. Instead they foreclosed on my house and sold it ! Here I was expecting them to send me a new monthly bill and I get a note on my door saying " I have bought the house" by a buyer!!!! I WAS PISSED ! Now they keep my tax money each year!

[FriedDaisy]

I paid my rent, again, today. Honestly, I thought about NOT doing it. Things are bad, and they just keep getting worse.

When I hear how government & corporate officials are stealing & throwing our tax dollars around as if the years of hard work (by everyone I know) & lives negatively impacted by the collection & accumulation of those dollars mean absolutely nothing, it makes me want to stop working, paying taxes, paying rent & utilities, and actively participating in anyway with their lies.