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No right to Foreclose, No right to mtg payments

Discussion in 'General Appraisal Discussion' started by Marion Rhodes, Oct 13, 2010.

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  1. Marion Rhodes

    Marion Rhodes Elite Member

    Top Poster Of the Month

    644
    Feb 26, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Pennsylvania
    Here it comes gang.

    The new claim is that because of the break in the chain of title, the mortgage servicers did not have a right to foreclose, but...

    That means they also did not have the right to receive the mortgage payments either.

    Yaowwww!

    Here's the video

    http://www.thinkbigworksmall.com/mypage/tbws/


    Oh yeah, this is going to get real expensive.


    .
     
  2. Carnivore

    Carnivore Elite Member

    4
    Jan 15, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    In every instance of problems within the mortgage industry, it all can be traced directly nack to the big box lenders.

    They simply refuse to follow the law. They have done everything they could to automate evey step of the mortgage process. They have dumbed down, side stepped or eliminated intirely all the Quality controls.

    It just goes on and on.

    I can not believe we bailed this bunch of crooks out.

    November elections can not get here soon enough.
     
  3. Green Hornet

    Green Hornet Senior Member

    0
    Dec 29, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Washington
    Do you mean the bailout using TARP funds that was signed in October of 2008?
     
  4. Peter LeQuire

    Peter LeQuire Elite Member

    218
    Jan 3, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Tennessee
    Or do you mean the CRA?
     
  5. Riick

    Riick Elite Member

    43
    Aug 14, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Delaware


    Gentlemen, does either of you think that
    We need to throw the frickin' politicians of BOTH parties out ?!~ :new_multi: :icon_idea:
    ? ?
     
  6. Bigrock

    Bigrock Member

    0
    Jun 6, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Georgia
    just vote against incumbents, reguardless of parties and if you are in a state where a murder could get elected as a repug or dem, vote libertian or independent...

    Thats my view...
     
  7. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    608
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Amen.
    Tarp was the best of the devices used. Selectively picking winners and losers (Lehmann for instance) is bad. But worst of all is not bailing them out. It is allowing them to resume business as normal.
    Why is Mozillo still free? Perry? Pandit? Raines? The government should have rounded up every executive and board member off Wall Street and said - Choose... Refund all your salary and compensation for the past 4 years to the bailout or go to jail for treason. What they did was destroy an economy. They are traitors.
    Today those same banks are making money by borrowing from the treasury for literally free and buying Yen or other currency to make a profit in the carry trade. They are not lending money to Joe the Plumber.

    November the Republicans are going to recognize that they may benefit in the short term by voter anger. In the long term, they must perform. I doubt they are competent enough to. In the following four years, if this economy remains on the ropes you will see wholesale changes in both political parties. November isn't going to end the voter disgust with our inept government.
     
  8. Peter LeQuire

    Peter LeQuire Elite Member

    218
    Jan 3, 2005
    Professional Status:
    Certified Residential Appraiser
    State:
    Tennessee
    Riick -

    Had you posed that as a statement, I would have hollered "Amen!" But since it is a question - yes. It isn't a matter of party, it's a systemic problem. "A democratic government is the only one in which those who vote for a tax can escape the obligation to pay it." and "The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money." -Alexis de Toqueville

    For a Frenchman, de Toqueville had some prescient insights into the American character and the nature of the government they created for themselves
     
  9. Elliott

    Elliott Elite Member

    87
    Apr 23, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Oregon
    The 'Moral Hazard" conundrum was brought up with the bail outs,
    now its at the door step of the mortgage industry. What's next?
    Credit cards rate being declared usurious by a judge?
     
  10. Riick

    Riick Elite Member

    43
    Aug 14, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Delaware
    Amen Brother.... You need to add one single word to that concise and accurate analysis.
    I'll do it for you, here, in italics:
    November isn't going to end the voter disgust with our corrupt, inept government.

    .
     
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