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Foreclosure Defense Florida

Put A Bullet In Your Brain….Or Just Read This Fannie Mae Loan Prospectus….

Fannie-Mae-DocumentsI’ve read thousands of Pooling and Servicing Agreements. Okay, truthfully I’ve read the same one over and over.   That’s right, the same Pooling and Servicing Agreement applies to virtually every securitized loan….it’s just a 384 page word processed document that the banksters just swerve the words around on you.   The content is the same….and it’s all crap.

Even if you do get a hold of the Pooling and Servicing Agreement that governs your loan, the bank will argue that you aren’t a party to it and have no right to understand what’s in it. But the PSA governs what happens to every single mortgage payment you make and what happens to the parties who are invested in your mortgage payments.   It’s especially relevant in foreclosure because the PSA specifies how your loan is supposed to travel from one party to another and defines who can foreclose, among other things…..but who cares right…I mean you haven’t made a payment.

So the next step in all this is the fact that Fannie and Freddie are asking you the taxpayer to give them billions of dollars so they can pay their non-performing executives hundreds of millions of dollars in bonuses. (Apparently you need bonuses to help executives crash the plane into the ground)

Each homeowner’s loan is a part of a larger and more devious financial ponzi scheme.   And every time another company or executive comes to the party more of the homeowner’s loan payments (and the investors investment payment) are diluted.   It’s pure economic cannibalism….the homeowner only makes one mortgage payment, but every step in the daisy chain sucks more and more life from that homeowner’s mortgage payment

The next broken link in the daisy chain is when the investors buy interests in the government backed interests in the loan pools….and that’s where today’s story picks up, these links provide the information that is provided to investors before they swoop in to pick apart the homeowner loan’s flesh.

The words are just mind-numbing and I really wonder whether anyone has ever read any of this stuff.   Knowing the intellectual horsepower and attention spans of the traders and investors that fueled the crash that is the current worldwide economic meltdown, I’m guessing they never got passed the first page. (Maybe they should use cartoons and pictures to describe all the big concepts and words.)

If you’ve got the attention span and the intellectual horsepower, I encourage you to pick a prospectus and read it…..then let me know how you feel afterwords…..

IMPORTANT FANNIE MAE WEBSITE INFORMATION

 

FANNIE MAE LOAN PROSPECTUS