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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Dimon Lil
Get some cash and keep it on hand. They are getting ready to tighten the screws. Scare tactics.

This from a friend in Atlanta with strong banking connections: “Reliable word that Bank of America branch managers just received a letter or memo from the USFed instructing them to perhaps be ready for a one-week universal shut-down of the banking system, including access to checking accounts, savings accounts and credit cards. Reliable word has it that BofA bank branches received a shipment of signs last week, reading “WE'RE SORRY, BUT DUE TO CIRCUMSTANCES BEYOND OUR CONTROL, WE CANNOT BE OPEN AT THIS TIME.”                

So the banks are in need of a respite, a break, a holiday. They need to shore up their positions. Economists and bankers avoid revealing the consequences of extended absence of short-term credit supply. Imagine all the supply chain DELIVERY routes being interrupted for lack of short-term credit, certain to interrupt the supply of food, gasoline, building materials, basic household wares, simple hardware, and more. The short-term credit would certainly also disrupt payroll streams for companies, inventory supply for retail chains, durable goods purchases by consumers (like washing machines & refrigerators), the maintenance of basic machinery (like cars, trucks, computer, communications), even cash dispensed at ATMachines.

                http://www.financialsense.com/fsu/editorials/willie/2008/1002.html

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A week just might backfire on them.

If people see how easy life becomes minus the banks in their lives and
the constant fee assessment for what it is.  A constant rip off.

If you have BOA handling your money and they do this little scam, change
banks when they are open for business.

Sounds to me like they want to defend a lot of lawsuits if this scare tactic
rumor is true.

Dee


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Part II

Don't believe the press regarding the bailout: Part II
Gather.com - Oct 1, 2008
That is why Section 108(d) states in part "The Secretary shall request loan servicers servicing the mortgage loans to avoid preventable foreclosures... [Emphasis added.]" Congress has already requested all loan servicers nationwide to avoid preventable ...
Undernews For September 30, 2008 Scoop.co.nz
all 1,033 news articles »

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Sick of Fraud and Lies
"As well detailed in a document from the Center for Responsible Lending , few homeowners will benefit from this provision. This is because the Treasury will chiefly purchase mortgage-backed securities which will make the federal government one of several co-owners of millions of mortgages. Whether or not any mortgages modified will be determined by the loan servicer acting on behalf of all the various investors who own a piece of the mortgage. That is why Section 108(d) states in part "The Secretary shall request loan servicers servicing the mortgage loans to avoid preventable foreclosures... [Emphasis added.]" Congress has already requested all loan servicers nationwide to avoid preventable foreclosures, so an additional request from the Treasury is unlikely to change current behavior."

Maybe they should say "Pretty please" and eat some cheese so that they can do something binding that benefits real people for a change!
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The Secretary shall request loan servicers servicing the mortgage loans to avoid preventable foreclosures...

That's an overt lie like banks don't want to foreclose. Paulson is from Goldman Sachs he is one of the money laundering criminals who ran the precess of off the books profits
of creating foreclosures for profit. Bush was put in power by the biggest home stealing crook of all who made illegal loans a nationwide mass produced assembly line Roland Arnall. Paulson wants to foreclose on the homes and give the profits to investors.

The government made it quite clear that they intended to split the profits with the tax payers to recover the costs of this bailout bill. In other word Paulson and Bush have promised to split the loot from the stolen homes with the public.Of course "unexpected difficulties" will arise and the problem will become "bigger than anyone understood at the time of the bailout" and the taxpayers will get stiffed while entering into an agreement with the government to steal their fellow citizens homes and own bank accounts, jobs, home values, and retirement accounts.

The President is saying it's OK to suspend the rule of law and due process and transfer authority and ownership to him and Paulson in order to steal homes to provide liquidity to turn the credit back on and move forward with our lives and go back to business as usual.

What's odd about that is the lame duck President is supposed to be at the end of his term and preparing to transfer authority to the next administration, Congress and Senate is supposed to be in recess right now and the Presidents effective control over. At the last second he spun a scheme to hand himself ownership over our homes and bank accounts.
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