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  #1  
Old 10-13-2010, 03:15 AM
Marion Rhodes's Avatar
Marion Rhodes Marion Rhodes is offline
 
Join Date: Feb 2006
Location: Poconos
State: Pennsylvania
Professional Status: Certified General Appraiser
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Default No right to Foreclose, No right to mtg payments

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.


.
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  #2  
Old 10-13-2010, 06:06 AM
Carnivore's Avatar
Carnivore Carnivore is offline
 
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Location: Queen City
State: North Carolina
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Default

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  
Old 10-13-2010, 09:26 AM
Green Hornet's Avatar
Green Hornet Green Hornet is offline
 
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Location: Puget Sound
State: Washington
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Default

Quote:
Originally Posted by Carnivore View Post
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.
Do you mean the bailout using TARP funds that was signed in October of 2008?
  #4  
Old 10-13-2010, 09:31 AM
Peter LeQuire's Avatar
Peter LeQuire Peter LeQuire is offline
 
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Location: A long way from Nutbush
State: Tennessee
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Default

Or do you mean the CRA?
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  #5  
Old 10-13-2010, 09:52 AM
Riick's Avatar
Riick Riick is online now
 
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Location: DuPont: "Better Living through Chemistry"
State: Delaware
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Default

Quote:
Originally Posted by Green Hornet View Post
Do you mean the bailout using TARP funds that was signed in October of 2008?

Quote:
Originally Posted by Peter LeQuire, IFA View Post
Or do you mean the CRA?

Gentlemen, does either of you think that
We need to throw the frickin' politicians of BOTH parties out ?!~
? ?
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  #6  
Old 10-13-2010, 10:06 AM
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Bigrock Bigrock is offline
 
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Default

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  
Old 10-13-2010, 10:15 AM
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Terrel L. Shields Terrel L. Shields is online now
 
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Location: Springtown, AmeRica
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Default

Quote:
They simply refuse to follow the law. ... They ... side stepped or eliminated intirely all the Quality controls. I can not believe we bailed this bunch of crooks out. November elections can not get here soon enough.
Amen.
Quote:
the bailout using TARP funds
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.
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  #8  
Old 10-13-2010, 10:21 AM
Peter LeQuire's Avatar
Peter LeQuire Peter LeQuire is offline
 
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Default

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
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  #9  
Old 10-13-2010, 11:03 AM
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Elliott Elliott is offline
 
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Location: Pumpland
State: Oregon
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Default

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  
Old 10-13-2010, 11:09 AM
Riick's Avatar
Riick Riick is online now
 
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Default

Quote:
Originally Posted by Terrel L. Shields View Post
<snipped> (In) 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.
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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