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Mortgage Jubilee

zogger (617870) writes | more than 3 years ago

United States 9

Due to excessive greed and stupidity in the higher levels of repackaged mortgages, you might have the opportunity to own your property a bit earlier than you might have thought. Worth a look Mortgage jubilee

Due to excessive greed and stupidity in the higher levels of repackaged mortgages, you might have the opportunity to own your property a bit earlier than you might have thought. Worth a look Mortgage jubilee

If by any odd chance people don't get the jubille reference, it is an old "all debts are cancelled" deal, plus pardons and whatnot. Basically, wiping the slates clean, start over.

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Never gonna happen (2, Insightful)

jawtheshark (198669) | more than 3 years ago | (#33311324)

Never gonna happen....

Even if this is backed by law, expect the law to change soon.


Jeremiah Cornelius (137) | more than 3 years ago | (#33314222)

in argument with chicken.
-- Book of Chan


jawtheshark (198669) | more than 3 years ago | (#33315220)

Hehehe... Good one, never heard it before.


Jeremiah Cornelius (137) | more than 3 years ago | (#33317824)

excerpted from the Principia Discordia FNORD

pretty well established (1)

zogger (617870) | more than 3 years ago | (#33320786)

This is probably the ultimate basis for any governmental regulation of commerce, basic contract law. If you have a claim, you have to prove it. You can't prove it, tough noogies. I think they would be hard pressed to get some law passed..because then it would mean anyone could just come up with any paperwork and "prove" they owned something. You signed with some bank, and one hour later they resold it upstream, where it disappears, which happened to millions of homeowners...greed caused insanity. Some of these mortgages have been sliced to ribbons and repackaged upwards of *two dozen* times. They can't prove who owns them anymore! That's the gist of it.

I think it's the best case of karma nailing those wall street crooks ever.

Nope, it's a huge loophole that will be used widely the more it is understood and the more local lawyers start using it. Entity x claims they own the mortgage..produce the paperwork. No legit paperwork, they don't own it. It is SO convoluted, so many smallish pieces of the mortgage went here there and yonder, they buried themselves in paperwork and counter claims and so on. It's tied up in derivatives, and even derivatives of derivatives, bets and counter bets against a piece of this mixed with some student loans (another ripe place to look for who really owns the loan), and a ton of other trade-able busywork "financial products" in 50 other nations, I mean, it's the mother of all paperwork messes. The original mortgage *doesn't exist* anymore. They didn't keep them intact. They busted them up so many different ways it would takes years to untangle it all, if they even could.

    No clear claim, judge goes case dismissed, homeowner walks away with title. The alleged claimant can't prove a thing. Already some people got title to their homes. It's been a slow snowball rolling downhill, but it is accelerating, started in 2008 and finally getting some traction.

I think it is wonderful, and more people should take advantage of it. One of the best ways to beat the conjob scam "trickle down" grifter's economic system yet.

Re:pretty well established (1)

jawtheshark (198669) | more than 3 years ago | (#33322778)

Oh, I think it's wonderful too... Let it be widely known and they'll find something around it. As long as it's one home-owner in hundred, they won't care too much.

Link doesn't work (1)

dpilot (134227) | more than 3 years ago | (#33312564)

Gets a server error.

But it almost sort of makes me wish I hadn't paid my house off early, a few years back.

works here (1)

zogger (617870) | more than 3 years ago | (#33313318)

I just clicked all three, they all load []

Title to that article is "Homeowners' Rebellion: Could 62 Million Homes Be Foreclosure-Proof?"

Maybe try doing a search with those, going in through google or reading the cache

All I know is they worked last night for me, and are working today.

This is just a follow up to some of my earlier posts on this subject. some folks have already got their homes this way, wherever they were sending the checks to, can't prove title. Those mortgage repackagers sliced and diced and obfuscated things so bad, no one really knows anymore who really owns their poof created "mortgage".

The whole deal with bank loans and "fractional reserve" banking is fraud and counterfeiting IMO. Not only is that bogus, they couldn't be content with making a killing, they had to try and force a superkilling with all those tranches [] they created. That system needs to crash and burn. But, that's the system they had to bailout, or, the tax payers had to bailout. Nuts. It's coo-coo.

Re:works here (1)

dpilot (134227) | more than 3 years ago | (#33315564)

Worked this time, must have been some sort of temporary failure.

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