It is nearly impossible to draw the line where government stops and private industry begins in real estate finance anymore. The banks are all too big to fail, and most are merely acting as debt collectors for the federal government.
If the TSA or the IRS came crashing into your door and were breaking into homes all across your neighborhood with no warrant and with no legal right to do so, maybe just maybe Amerikans and even a judge or two might step up and say….
YOU CAN’T JUST BREAK INTO HOMES BECAUSE THEY’RE LATE ON THEIR MORTGAGE.
(But then again, seeing what I see in this country, everyone might just look the other way.)
But what we all need to understand is that “The Banks” really are just actors in a macabre conga line that’s making its way down every street in Amerika. The Conga Line winds through every home, taking all the wealth of middle class Amerika, stripping the future of this nation’s children and delivering it up to the Wall Street and banking elite. And when the Conga line comes to a locked door, they just drill out the locks, pull out the crowbars, rip the door off the hinges and walk right in….unannounced. They claim you gave them the right to do that in paragraphs 7 and 9 of your mortgage. And the scary thing is I have yet to find a court that will punish them or hold them accountable. Because of that Amerika is not free and none of us are safe.
The issue of bank break ins is so important because it is the most dramatic example of the violent takeover by the fascists, and it is being done in broad daylight right in our own homes….with impunity.
IF COURTS WON’T STOP THE JACK BOOTED THUGS FROM BREAKING INTO YOUR HOME WHAT WILL STOP THEM?
The government-sponsored enterprise has acquired the rights to service hundreds of billions of dollars of loans and transferred responsibility for managing them to a select group of large subservicers, according to mortgage servicing insiders and analysts. It has specifically acknowledged only one such deal “” the August purchase of servicing rights for a $73 billion pool of Bank of America loans “” but industry participants believe more than a dozen others have already occurred.
Why the secrecy? Fannie is “under a lot of political pressure, and wants to keep everything” quiet, says Paul Miller, managing director of FBR Capital Markets.
To Fannie, yanking servicing rights from big banks has other appeal, Miller says. Fannie executives “don’t like how Bank of America, or any other major servicer, is servicing the loans,” he says. “The biggest servicers are totally dysfunctional and putting no resources into the process.”