Friday, November 18, 2011

What Happens in Vegas: Fraud & Abuse by Banks on Home Loans

A lot of conservatives--whether politicians, pundits or just internet warriors--like to blame poor people for a lot of things. Herman Cain said, if you aren't rich or don't have a job, "blame yo'self!" Yakkers like Rush Limbaugh and Sean Hannity lay the entire economic collapse on poor people. Or government "forcing" banks to give home loans to poor people. That is not true, but that really doesn't matter in their realm. But even here on my blog, I've gotten in arguments in the comments section, over poor people. And in real life, a friend said, "Hey, if you signed the mortgage papers, you pay the bill or you get forclosed. It's only fair."

Fair. Did the banks play fair? Watch this incredible report below from Las Vegas reporter George Knapp. Some people who were in foreclosure, but renegotiated are in trouble. As are some people who simply bought a foreclosed home. Because the paperwork trail is so complicated, and because there was so much fraud by the banksters, these people in actuality do not own their own homes. Knapp himself bought a home three years ago, and technically does not own it!


Desert Underwater: Who Owns Your Home?

The foreclosure crisis has several causes, but government investigators now believe that high risk gambling by major banks is mostly to blame for the economic meltdown. Millions of Americans who played by the rules and paid their bills have lost their homes because banks and their service providers cranked out mountains of bogus mortgage documents. . .

Read more at: 8NewsNow

Thanks to Stupid Monkey Planet for the link.

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