Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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    We live in interesting times. It appears that the country of Greece is about to default on its sovereign debt which will probably cause a chain reaction of defaults across Europe and into North America, where one State after another will have to default, probably starting with California.
     This in turn will lead to massive deflation such as we haven't seen since
the 1930's with massive bank failures across the world. The bottom line is
that cash will be King, and commodities like gold, silver and real estate will
crash through the floor. Get ready for self employment and/or a cut in wages.
If you think you are "upside down" on your mortgage now, just wait a few
months, and you'll be amazed!
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Sara
Mike,

Haven't you noticed that cash is already king?  Yes, more and more websites that deal with personal budgeting are reintroducing the "envelope method" of maintaining a personal budget.

Many of my own friends have started this.  They still have a personal checking account since their jobs require direct deposit but they withdraw the money and pay bills in cash or with money orders.  The upside of this method is NO BOUNCED CHECKS!!!  And we know how banks hate it when we don't bounce checks

We are preparing for it buddy!!!
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     The main cause of the developing crisis is "usury", ie interest on money
created out of nothing which began in 1968 when the dollar gold reserve
was elliminated by Congress.
     For forty years, the banking system was monetizing the value of real
estate, ie creating the principal, but never the interest on this debt. It would
be mathematically impossible to pay back the interest on this debt because
it has reached the point that their is not enough money in the World to pay
back all the interest charges.
     The only solution to this problem, short of a world wide crash, is for our
government to declare a moratorium on mortgage interest so people can remain in their homes throughout the crisis. This would also free up alot
of cash in order to jump start the economy and get people spending again.
It would increase tax revenues and help various levels of government to balance their budgets.
     It is a fair solution because the banks have been on a gravy train for
forty years, collecting interest on money they created out of nothing. All
they are really owed is the principal, not the interest.
     If you agree with this analysis, e-mail it to your Congress person and
Senator so we can get them to act quickly before this deflation really hits.
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arkygirl
Sara, I think what Mike is trying to say is that massive monetary deflation may occur.

All that cash that you are carefully squirreling away will have NO or very little value. Zip, zero, nada, nothing much could be bought for cash. Remember that cash is only paper with printing on it; "value" does not inherently reside in it. It is a faith-based medium of exchange and a lot of the "value" placed in it has to do with how the rest of the world sees the U.S. as being able to produce something real.

Deflation can occur nearly overnight. Once the world's confidence and faith in the U.S. falters down goes the dollar. It is already struggling.

Marc Faber on Feb.22, 2010 advised investors in this way Oddly enough, I NEVER saw this reported widely in the US. It is chilling.):

"The world’s most powerful investors have been advised to buy farmland, stock up on gold and prepare for a “dirty war” by Marc Faber, the notoriously bearish market pundit, who predicted the 1987 stock market crash.

The bleak warning of social and financial meltdown, delivered today in Tokyo at a gathering of 700 pension and sovereign wealth fund managers.

Dr Faber, who advised his audience to pull out of American stocks one week before the 1987 crash and was among a handful who predicted the more recent financial crisis, vies with the Nouriel Roubini, the economist, as a rival claimant for the nickname Dr Doom.

Speaking today, Dr Faber said that investors, who control billions of dollars of assets, should start considering the effects of more disruptive events than mere market volatility.

“The next war will be a dirty war,” he told fund managers: "What are you going to do when your mobile phone gets shut down or the internet stops working or the city water supplies get poisoned?”

His investment advice, which was the first keynote speech of CLSA’s annual investment forum in Tokyo, included a suggestion that fund managers buy houses in the countryside because it was more likely that violence, biological attack and other acts of a “dirty war” would happen in cities.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article7035913.ece

Funny thing, GS is neck deep in the Greek crisis. Now I am hearing rumors that AIG insured all those crapola CDS peddled by GS. Will we bail out Greece and GS by further propping up AIG? Or will we finally take to the streets and cry "ENOUGH"?

Greece is already experiencing riots, are we next?

Stay tuned....

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Alina

btw, I saw Dr. Faber on CNBC when he released the GloomBoomDoom report a couple of weeks ago.  He pretty much scared me to death.  I wish I could afford to join his website and download his report.

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    If anyone needed proof that the typical Republican is out of touch with reality, here are some quotes from Darrel Issa and Jim Jordan, two Republican
Congressman. I quote, "Keeping people in their homes, who would be better off going through foreclosure" and "would have been better off if they defaulted earlier and spent the payments on more affordable housing options". (my comment: like living under a bridge I suppose)
    Personally, I'm a Federalist and I believe that private banks should never
have been given the privilege of monetizing the value of real estate and then
charging interest on this money created out of nothing. In early America,
this was called USURY and could have gotten the bankster thrown in jail. Banks were originally like "piggy banks" in that someone had to save before someone could borrow. This kept the price of housing low and elliminated the speculators.
    The Federalists used the national debt as backing for the issuance of US
Notes from the First and Second United States Banks, which were owned by
the people, ie Congress. Private banks were not allowed to issue bank notes.
The banksters hated that system because there was no profit in it for them.
Andrew Jackson, who said he hated bankers, destroyed the Second US Bank,
and gave the banksters he allegedly hated, exactly what they wanted. So
much for politicians. He also stated "to the victor go the spoils" and enthroned political corruption as an American value. He was the founder
of the Democratic Party so we shouldn't expect much from them either.
That's why I say we need a return to the Party of Hamilton and Washington,
the Federalist Party, which believed interest on money created out of nothing
was evil and the root of all evil, ie USURY!
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Mike, looks like "usury" is coming down the pike in foreclosure cases. It appears from what I have read so far, securitized assets, MBS/CDO's etc are not exempt from state usury statutes. This should prove interesting.

What needs to happen now is the setting up of a watchdog community to monitor legislative action in each and every state to moniter special intests that will be working very quickly to change state laws on this issue.


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Thanks for the input Mike your on the right track looking at fiat money as the root cause but I differ with you on debt and central banking. I believe we have a global debt, and exploitative, growth based economy. I wouldn't count on deflation except perhaps a short term flight to alternate currency I see hyperinflation and possible currency replacement. Gold and solver have intrinsic value as does real estate. Unfortunately real estate has been driven to absurd levels due to government backing of the GSE's coupled with the interest rate deduction (IRS interest extortion) and the repeal of Glass Stegal, deregulation of a state sponsored monopoly (FED/IRS backed fractional reserve lending).

I'm a hard money advocate and am opposed to debt and growth based economy and in favor of savings and intrinsic value economy isolated as much as possible from government influence and private government sponsored monopolies.

I believe the whole reason for the FED/IRS collapsing the economy was for government sponsored and protected interests  to transfer assets overseas and into offshore accounts and have foreign interests pick up U.S. properties and businesses for cheap. They certainly are violently opposed to the interests of U.S. citizens and would be bitterly opposed to us getting to buy back any of these homes or businesses for cheap. They will try to set monetary and tax policy to trigger inflationary cycles or full blown depression and or hyperinflation after all the hard work they have put into stripping U.S. taxpayers of assets, homes and businesses and transfer them to foreign interests.

The Fed/IRS is the enemy of the people.

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Hey Greg,

What do you think about progressivism?

Hope this finds you well.

Bob
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    There is an old math riddle that is used to teach about exponential growth
vs geometric growth. It goes like this: "If it took a lilly pad thirty days to reproduce enough to cover the whole pond, on what day did its offspring cover only half the pond?
     If you have the answer, let's hear form you!
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arkygirl
On the 28th day the pond will be one-fourth covered.

On the 29th day the pond will be one-half covered.

On the 30th day, full coverage will be achieved.

We are very near the thirtieth day now....the doubling is accelerating.
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4 Justice Now

The Fed/IRS and those who currently control it are the enemy of the people.

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