Banks Hit Hurdle to Foreclosures

Discussion in 'Economy' started by tension, May 31, 2011.

  1. tension
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    tension BANNED

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    Great job US. AG.. Would like to see these bankers,Loan Moder's etc. do some jail time
    And get before 94 reg's and laws back on the books. With real enforcement!

    Ref: Borrowers are successfully arguing that case as of updated May 31,2011 WSJ read.

    Banks Hit Foreclosure Hurdle - WSJ.com
     
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    Last edited: May 31, 2011
  2. uscitizen
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    uscitizen Senior Member

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    A clear cut example of overregulation by the liberals!

    We know the banks own the mortgages because they say they do!
     
  3. The Rabbi
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    The Rabbi Diamond Member

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    And people wonder why the housing market isn't recovering.
    It is because the gov't is playing stupid games like this, preventing banks from doing what needs to be done.
     
  4. tension
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    tension BANNED

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    oops
     
  5. tension
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    tension BANNED

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    Hmm? I understand that removing laws/reg’s back in 94 got us to this wonderful state of under regulated and screwed.
    The reg’s and laws that were removed were the ones that would of allowed me not to enjoy the whole event! I think they was working pretty good from the 30’s till 94’. By allowing this open uncontrolled fleecing by the wall street and banks a good thang?
     
  6. The Rabbi
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    The Rabbi Diamond Member

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    How old are you again? Did you miss the S&L crisis and the SOuth American debt crisis? I wouldn't call that "working pretty good."
    The truth is that regs are ineffective in breaking the business cycle. But they do a lot to undermine business activity.
     
  7. tension
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    thats an 80' thing and the tax payer paid the bill for it and that was there plan in first place by K-5 and there freinds.. modify laws so the crew could steel it. The event I am talking about is from 94 till know.
    And if banks wanted to get moving they dail there 911 a lobbyest and by this mon. all fixed
     
    Last edited: Jun 1, 2011
  8. sparky
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    sparky VIP Member

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    that every fiat system in the history of fiat systems has failed , and failed do to plain human greed, is the ultimate answer to regulation here

    resinding Glass Stegal (a Clinton era legislation, along with the likes of R Riech) in essesnce, allowed the time ho9nored 10-1 parameters of fractional banking to expand

    thus the banking institution were able to take the public banking system, and by proxy any trust we placed in their hands, and invest it in commercial banking fiscals

    the effects , which we are all living, are inarguably detrimental due to these actions
     
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  9. expat_panama
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    expat_panama Silver Member

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    Yelling doesn't make it true. There are more 'fiat systems' active now than any time since the dawn of recorded history, so 'plain human greed' isn't nearly as powerful as greed people would have us believe.

    What there really is more of is human goodness, cleverness, and the fact that good clever people can mess things up big-time. Humanity is interconnecting and once again learning how the newly created wealth brings more responsibility. Problems with people getting a home are solved by a global mortgage market. Now we got global mortgage paperwork problems and saying all is lost and people are bad is not a solution. Realizing that most home titles are sound and working hard to fix the ones that aren't is a solution.
     
  10. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    From the link:
    If a bank can't show that they own the house they shouldn't be able to foreclose.

    If I miss my car payments, Chrysler Financial can repossess my truck because they have the title. How can a bank foreclose if they don't have the title? Or accept payment for that matter? They can't and they shouldn't be able to. It doesn't matter if you're behind in payments.

    When the Investment Banks bundles all those subprime mortgages and sold them many times over to different people and investors, they lost track of the title. Only the actual owner can demand payments and foreclose. That's what this case is really about and the Banks are beginning to get nervous.
     
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