Losing Your Home? READ THIS NOW!

by metatron 2 Replies latest jw friends

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  metatron

  A little off topic but losing your home can be as traumatic as losing your family thru religious cult influence.

  Anyhow, I'll try to translate the complexity here: Banks got so greedy they abandoned good sense and solid legal standards when they created the orgy of the Housing Bubble. Result: Courts are threatening the banks who 'hold' this property because they failed to properly document their transfer of these properties. People are demanding that their bank creditors PROVE they own the mortgages in question - and the banks are in trouble.

  http://seekingalpha.com/article/221344-homeowners-rebellion-could-62-million-homes-be-foreclosure-proof

  If you are in this particular crisis, you need to get legal help NOW because it could happen that tens of millions of Americans simply stop mortgage payments and nothing happens ......for years...... or ever!

  metatron
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  JeffT

  It is my personal opinion that in many cases the banks were not the only greedy party. I watched a number of people refinancing houses to pay for vacations or toys (a weekend race car in one case) or trade up into houses they cannot now afford.

  In any event, if you're in trouble on your house their are good reasons to see a lawyer, this article is a good example. In this case, when your bank wants to foreclose, they need to be able to produce an original piece of paper with your signature on it. If they can't do that they're screwed.

  Now, if enough banks are screwed, we may all be screwed, but that's another matter.
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  Aussie Oz

  Sure is a mess... it seems the U.S copped it the worse though

  This business has also affected how and who can buy homes now and in the furure...

  here in oz, they banks have tightened up like the rest of the worl and you gotta jump through a lot of hoops to get a loan now.

  oz