I received a comment/request from a reader that I figured I would just share without edit….
Please reiterate on your blog so the people will focus on the reality of the fiasco of the foreclosure scheme still playing out by giving the shortest version for people to understand and remember.
These fraudulent pretender lenders are called just that… because ‘They’ never purchased or lent any money for any of these mortgages, which is why ‘They’ refuse to be deposed or produce purchase agreements or valid pooling and servicing agreements.
Mortgage companies and their Warehouse subsidiaries were only used because “˜They’ wanted the signatures of the borrowers so that years down the road, after the (original) trustees from other banks (sold the loans multiple times), the foreclosure mills attorneys and service provider companies would help play the shell game.
The trust account and (successor) trustee(s) are named before or after the pretenders obtain the mortgage documents in bulk (for pennies or from agreements) from pending bankrupt or defunct mortgage companies. Then “˜They’ wait to file foreclosure and claim the loan was in “˜Their’ trust (non-existent or empty) account.
“˜Their’ (servicer) employees are used to keep the (wet funded) borrowers from knowing who or where the actual (table-funded) investor came from. Then “˜Their’ (servicer or law firm) employees self-input data in the LPS, DocX, MERS or SEC systems, etc., and have employees (robo-sign and/or robo-testify) on documents, so that ‘They’ can give what appears as valid paperwork, in order to seize property and collect (wipe-out) insurance companies (again) and/or collect from government funds or collect through credit default swap agreements because they bet that the loans would default.
The scheme to make sure of defaults also includes double taxes, triple (forced placed) insurance, bait and switched or undisclosed rate term amounts of the documents, pretend modifications and/or investigations were proceeding or just flat out manufacturing defaults, without any notice to the borrowers.
Unfortunately, many people are involved in this grand heist and the public must grasp an even more important fact, which is that the public pays for every foreclosure, including the multiple sales, insurance and government funds, cleaning, break-in companies, and everything else associated with this scheme, however, the public just sits back and watches the wealth go offshore because they just can’t see how its done, therefore, tricked into working against their own people, neighborhood, economic and their own self interests.