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Foreclosuregate

  1. cousinlucky
    cousinlucky
    Here is an interesting article about the banks and foreclosures in the U.S.A.

    http://www.commondreams.org/print/61516
  2. Rubberman
    Rubberman
    I've been reading a lot about this fiasco. A lot of people are being foreclosed when they don't even have a mortgage and own their homes outright! Just irresponsible (and possibly criminal) paper pushing by the banks and other institutions. Heck, they don't care what the truth is. They see an opportunity to either make $$ or terminate their potential lo$$es! As for the home owner, tough break seems to be the institutions' response.
  3. hazel
    hazel
    I haven't heard of anything like that over here. We have foreclosures of course (we call them repossessions) but so far none of the people involved have claimed that the bank wasn't entitled to foreclose.

    I think that that the mortgage bonds that are causing the problem (and that caused the financial meltdown in 2008) all originate in the USA and are made up from US mortgages. European banks bought up a lot of this toxic debt but as far as I know they didn't securitise their own mortgage loans and sell them on.
  4. cousinlucky
    cousinlucky
    Rubberman that is called " housestealing ' where criminals use tax records to forge
    paperwork so that the " house " can be sold multiple times and multiple loans from
    area banks finance the purchases and the crooks disappear with the money!!

    Housestealing: House Stealing: Tickerguy's Perspective by Karl Denninger
  5. cousinlucky
    cousinlucky
    Welcome to Bank of America Hell.
    Trapped in Bank of America Hell
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