CNN on Staying in Your Foreclosed Home

Stay Put

Produce the note 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:

Education

Tags:

• foreclosure

[aviomaster]

Barock Obomba is just another puppet , what is the most interesting Americans always fall on the same story.

[sha370z]

people in home have not made a payment in 5 years

[TheMikesMaiden]

@LilRanDy920

lolllllllllllllllllll

[LilRanDy920]

@TheMikesMaiden then you shoot

[TheMikesMaiden]

what if the sheriff comes to your door and has u thrown out then what do u do?

[truword64]

File suit against the banks for Ultra vires,Faudulent conversion and inducement ,Constructive fraud,Couterfieting, and Usury law violations. in fact make it a class action.Even further challenge the value of federal reserve notes(fiat money,not lawful article 1 constitutional money) challege that they fail to perform under the alleged contract by loaning you real lawful money(coined gold and silver) thus the breached the socalled contract. However be careful of your NWO bar attorneys.

[hpmracer]

What happened to this lady and her home? I saw this on TV when it came out last year. We had to file an injunction against (Litton) aka Goldman Sachs. It's a crime what our government and the banks in general have conspired against us Americans! Change my ass... Obamination did nothing to help us... yet they get bailed out for their failure! Unfortunately for us, the economy greatly affected our compensation and ability to survive, and the banks refuse to assist, govnmt provided NO law 2 help!

[hpmracer]

@pufycino Can't your dumb ass understand that millions of people all across the world did NOT conspire to this banking scam? When was the last time you got bailed out for failing? Before you shoot your mouth off, consider all the facts... economic meltdown which collapsed my business in general home repairs. People are not spending nor doing much to there homes, as most are losing them. Also consider the fact of ever increasing costs of living, property tax, and taxes in general! Counties are F

[pufycino]

Cant you dumb americans buy something that you can afford?

[blomstersenter]

I made 800 000 us dollar per year.