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View Diary: Our Economy: MASSIVE FRAUD By Mortgage Industry. (269 comments)

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  •  read the stories in the link...end of diary. (1+ / 0-)
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    one crime after another.

    The greatest gift you can contribute to the goal of world peace is to heal.

    by wavpeac on Wed Feb 25, 2009 at 07:11:09 PM PST

    [ Parent ]

    •  The articles you link to (1+ / 0-)
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      about mortgage fraud funding terrorism describe exactly that - borrowers, surveyors and brokers conspiring to defraud lenders.

      I don't disagree with you that this is only a small part of the problem.  But you undermine your argument with all this terrorism stuff.

      •  No the links at the end of article (0+ / 0-)

        stories of one person after another where laws were violated that perpetuated and caused foreclosure. They violated TILA laws as they put people in foreclosure. Often because of accounting errors, errors and manipulations in escrow, escrow shortage fees, property inspection fees, fees for cashing your check. It's accounting fraud, it's stealing. And it forced many foreclosures and home losses. I had the money to pay myself out of foreclosure but the amount I owed doubled due to these miscellaneous fees. They sent my checks back and refused to take my calls.

        without those violations in law my situation would have been resolved quickly. I got behind when my ex quit paying child support suddenly one month...and I got charged massive over draft fees. My child support and my utility were auto deposit and the withdrawals were auto draft.I did not have credit card debt. I bought a 124,000 house and I made 51,000 a year.

        The greatest gift you can contribute to the goal of world peace is to heal.

        by wavpeac on Thu Feb 26, 2009 at 04:24:34 AM PST

        [ Parent ]

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