Forclosure News- Evidence of Systemic Corruption

abcnews.go.com...

[Headline]Foreclosure Crisis: 23 States Halt Foreclosure As Officials Review Bank Practices
Bank 'Robo-Signers' Apparently Reviewed Thousands of Foreclosures a Week

By MATT GUTMAN and BRADLEY BLACKBURN
Oct. 4, 2010

As millions of Americans struggle under an epidemic of foreclosures, evidence has surfaced suggesting that some of the biggest banks are barely paying attention before signing documents that will push people out of their homes.

Officials at some big banks now admit that so-called "robo-signers" were signing off on thousands of foreclosures a day without actually looking at the details of any of the cases.

While the blame is being squarely placed upon robo-signers, this news evidences systemic corruption.

If it wasn't a house appraiser that pushed the value up, then it could have been
the mortgage broker to bumped your rate just a tenth of a percentage, or maybe it was
the banks packaging the collateralized debt instruments,

Now, it looks like its a robo signer to blame.

One needn't be a rocket scientist (or Keynsian Magician) to understand the systemic corruption at any level. The recent news that robo-signers are to blame should send a shiver down your spine. Why? At the worst, a simple dereliction of duty has started a foreclosure process. A process that has physically removed people from their homes. People who may well have been making the miracle of paying their mortgage payment.

Judges who had been flying through tens of thousands of foreclosures an hour in so-called rocket dockets may now reverse their summary decisions, allowing homeowners to return home.

The heroic black-robed-devils may appear to be coming to the rescue of victims of the robo-signer... but not without their own complicit involvement in the scheme.

The processes, from the appraiser through to the judge shows at the least incompetence, and at worst: systemic corruption.

If you live in the former US of A, you live in a world where a robo-signer has the power to send men with guns to physically remove you from your home for a reason no one can put their finger upon.

I saw this on the news today. Chase and BoA at the top of the list, (surprise, surprise) So now even ppl who are paying their mortgage are losing their homes. More of the elite taking away what little we have left. SEND THEM TO JAIL FOR THEFT!!!

They where saying on Zerohedge last week that this was going to become alot bigger and more of a problem than people thought. For them to stop in 23 states, tells me that they are afraid and this is something that can make them go into bankruptcy quickly. If the people get the houses back what happens to the people who bought the house in foreclosure. They would have to be made whole, and that won't be easy. Because what if the people don't want to move, they would say and their lawyers would say that they bought that house in good faith. Also what if the people who bought the house in foreclosure decided to fix it up and sell it to another couple, you see the problem. With evidence of corruption on almost all levels, they have made a situation where all parties to the fraud are legally entitled to the house on good faith and by error from the banks malfeasance. This has the ability of not only clogging the courts, but also freezing the mortgage and insurance industry for years. This is well past the govt. forgiving people's mortgages, some people may say I WANT MY HOUSE BACK.

Wow.. Just WOW..

People, many, many people are going to be.... VERY upset about this.

I hope people raise a HUGE stink about it too.

Nail the responsible parties BUTTS to the wall!