Mailvox: In which a solution is proposed

The prophetic tale of the Great Home Distribution:

“The house next door has stood empty for four months now, ever since our neighbors were foreclosed on and evicted. The bank isn’t even trying to sell it. Instead, a week or
two ago they sent over a crew to blow out the waterlines, fill ’em with antifreeze, and basically winterize the place, as you would do if you had a cabin in the deep north woods and were planning to close it up for the winter.

The kicker: the bank involved is one of those “evil” banks that’s currently in the news for possible mortgage fraud.

So here is my question for you: how soon do you think it will be before the fed.gov starts seizing such houses (since the title trails are hopelessly f*cked-up anyway), declaring them Affordable Housing, and redistributing them to the Deserving Poor?

After all, it’s worked so well in Zimbabwe and Venezuela. If you can seize the property of wealthy landowners and redistribute it to the peasants, you can count on the loyal support of the peasants in the next election — or riot.

Can’t you just see The Chosen One and his teleprompter up there on the podium? Thundering, “If we lose this election, the Republicans will take away your home!” (Because after all, once the gov’t has given it to you, it’s yours, right? Even if you didn’t work for it, don’t deserve it, and they had to steal it from someone else to give it to you?)

Interesting times, indeed. Figure the first couple such houses will go, with great fanfare, to the widows and families of Iraq and Afghan war casualties, or to a few wheelchair-bound disabled vets themselves. After all, who could object to giving extravagant gov largesse to widows, orphans, and cripples?

Then, once it becomes old news, the Great Redistribution begins…”

One nation, under fraud

An excellent article that not only sums up the relevant issues, but provides some stunning examples of how deep and pervasive the banking fraud is:

Tomorrow, a bank—not your bank, but any bank—could evict you from your home. Even if you didn’t know the bank was foreclosing. Even if your mortgage is paid off. Even if you never had a mortgage. Even if the bank doesn’t hold a single piece of paper that you signed. And major banks not only know this fact, but have spent millions of dollars to defend it in court. Why? The answer starts with a Jacksonville homeowner named Patrick Jeffs.

In 2007, Deutsche Bank sued Jeffs for his home, which is a necessary step in the process of foreclosing on a homeowner in the state of Florida. Curiously, despite the fact that he immediately hired a law firm to defend his property when he found out about the foreclosure, neither Jeffs nor his attorneys were at the trial. That’s because it had already happened. Deutsche won by default because Jeffs wasn’t able to travel backwards in time to attend, even though the trial featured a signed affidavit indicating that he had been served his court summons.

The only problem with the summons Jeffs supposedly received was that it had been conjured out of thin air.

In June of this year, a Florida court ruled that the document was fraudulent, as the person who was supposed to make sure Jeffs was served had mysteriously received a copy of the summons before the lawsuit had even been filed, and Jeffs never even saw the copy. The text of that ruling was posted on various financial news websites in September. The lawyers that Jeffs hired to defend his case say that fraud such as this is not uncommon. It’s a widespread problem, and it has cost countless families their homes.

“I think it’s safe to say that 95% of the foreclosure cases in Florida involve some form of fraud on the part of the bank,” David Goldman of Apple Law Firm, PLLC told The Daily Caller in a phone interview. “It’s probably closer to 99%. And the court system is helping them get away with it.”

…Banking officials happily told the Florida court system in 2009 that the documents had been shredded. At the time, lenders were trying to prevent some foreclosure rule changes, so they sent a letter to the Florida Supreme Court. Among other things, the letter stated that it was standard practice to destroy mortgage papers once the mortgages were sold into MERS in order to avoid confusion. (“A” for effort on that front.) Something funny happens when tearing up a contract, and it might best be explained by a certain common phrase. That phrase is, “Tearing up a contract.” Unless very specific conditions are met, the contract becomes null. Void. Not worth the paper it is printed on.

It is now totally impossible and downright dishonest for anyone to attempt to somehow blame the ongoing collapse of the U.S. financial system on irresponsibly indebted homeowners or minor clerical errors on the part of low-level bank employees. Exposing the full extent of the fraud and placing the financial responsibilities where they belong will bring the housing system to a screeching halt, as indeed it must. But it is not a question of risking the breakdown of the system nor can the banks threaten to hold the system hostage because the system is already broken, having been fatally sabotaged by the mass mortgage transfer fraud (it’s far more than mere foreclosure fraud) of the mortgage banks.

Someone asked the other day if this explosive situation was really all about the short-sighted greed of bankers and if the bankers could really have been so incredibly stupid. To which the only answer is: yes, apparently. This is an object lesson in repeatedly looking the other way and NOT enforcing the rules; all that accomplishes is to teach the offending parties that they can up the ante on their offensive behavior.

Read the whole thing. It’s very informative and not a little eye-opening, even for confirmed cynics.