- Loans were securitized illegally. Securitization means that a loan, a negotiable security, was changed into stock. Think of your loan as a carrot turning into carrot juice!
There are many other points that address the mortgage fraud, available upon request.
Banks, in my opinion, are merely accounting firms and should/could be paid a fee for making the transactions of physical credit, namely the vendor's house to the buyer's home! They should not be charging the ever increasing simple or compounding interest they charge now. This is usury, which has been used to create the criminal fraud, deception and illegalities: as foreclosure deception on the personal level, forged documents submitted to the court on the state level, and securities fraud on the federal level!
After all, the aggregate homeowners/borrowers are just trying to get back something that they never ceased to own in the first place.
The U.S. government
(or even a Massachusetts Public Bank, see here: http://www.malegislature.gov/Bills/187/House/H01192
can protect the market players by guaranteeing the deposits of the aggregate
vendors who brought the real physical credit to the transactions. The aggregate
deposits, so guaranteed, destroy the necessity for the objectively illegal and
illegally obtained debt, which can then be destroyed by the act of recognizing
its illegality and inequity. Of course, another way is for total debt
forgiveness. Take your pick!
Call me or e-mail with your
comments.
David Snieckus
99 Crescent Street
Newton , MA 02466
617-964-2951
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