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View Diary: Yves Smith: "The Top Twelve Reasons Why You Should Hate the Mortgage Settlement" (156 comments)

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  •  I hear you! YES, that was outrageous!!! (2+ / 0-)
    Recommended by:
    KenBee, Dumas EagerSeton

    But Post-Settlement there, for those who signed it, it now states explicitly that a prerequisite of foreclosure is the ability to produce a valid note. That is my reading of it anyway. See the agreement.

    Separation of Church and State AND Corporation

    by Einsteinia on Thu Feb 09, 2012 at 03:55:46 PM PST

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    •  maybe for mortgages created after this settlement? (1+ / 0-)
      Recommended by:
      Einsteinia

      but for mortgages currently existing?
      heh, I hope you are right!!

      From those who live like leeches on the people's lives, We must take back our land again, America!...Langston Hughes

      by KenBee on Thu Feb 09, 2012 at 04:03:13 PM PST

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    •  No, you are wrong (12+ / 0-)

      What will happen is that whereas before they were just ignoring the lack of evidence and violating law, the judges will now feel they are justified in ignoring the lack of evidence and violations of law because now there's a settlement. You don't understand that this is about people in power avoiding the elephant in the room: that much of this was and is illegal. I am also dealing with this with clients so I can't go into more details than what Dumas said.

      •  Exaaactly. I'm not in the profession but I've (4+ / 0-)
        You don't understand that this is about people in power avoiding the elephant in the room: that much of this was and is illegal
        borne witness to it here. That's why I painted broad strokes in my description so that people I'm refering to won't be hurt by my frank comments.

        People/families - lots of them - are being railroaded out onto the streets!

        When everybody talkin' all at once no one can hear the wise one speak, So just be still and silence will provide the wisdom that you seek - by Tori del Allen

        by Dumas EagerSeton on Thu Feb 09, 2012 at 04:22:57 PM PST

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    •  Sadly, it all looks so good on paper, Post- (3+ / 0-)
      Recommended by:
      Einsteinia, frandor55, lostinamerica
      it now states explicitly that a prerequisite of foreclosure is the ability to produce a valid note. That is my reading of it anyway. See the agreement
      Settlement. Valid note pre req. Yep. Sounds all legal-beagley. In the real world however, what' I'm saying is that what is happening a lot is that legalities, validities, legitimacies are largely being dumped into the crapper AGAINST the homeowner.

      More succinctly put: Valid Note? We don't need no stinkin' valid note!! Get the fuck out of that house/condo your fucking no good worthless peasants!!

      When everybody talkin' all at once no one can hear the wise one speak, So just be still and silence will provide the wisdom that you seek - by Tori del Allen

      by Dumas EagerSeton on Thu Feb 09, 2012 at 04:19:42 PM PST

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    •  I thought that was already settled law (3+ / 0-)
      Recommended by:
      Catesby, Einsteinia, semiot

      settled about 1680ish.

      The darkness drops again but now I know That twenty centuries of stony sleep Were vexed to nightmare by a rocking cradle, And what rough beast, its hour come round at last, Slouches towards Bethlehem to be born? William Butler Yeats

      by deepsouthdoug on Thu Feb 09, 2012 at 06:58:23 PM PST

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      •  Sadly dsd, that's one of the important points this (0+ / 0-)
        I thought that was already settled law, settled about 1680ish
        article makes.  Rule of law got crushed under the weight of all those greedy corrupt feet.

        When everybody talkin' all at once no one can hear the wise one speak, So just be still and silence will provide the wisdom that you seek - by Tori del Allen

        by Dumas EagerSeton on Fri Feb 10, 2012 at 12:22:42 PM PST

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