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The Blessing (And Curse) That Is The "Linda Green" Signature

Tyler Durden's picture




 

When we presented our follow up post on Sarah Palin's recent house purchase, various elements from the Pavlovian fringe decided to make the idiotic assumption that the post, and the one preceding it, were some hit piece targeting the presidential candidate. Actually, no. Frankly, we have absolutely no opinion of Ms. Palin, and as such have no intention of writing "hit pieces", or any pieces, targeting her. The whole point of the posts was to demonstrate that even a person, who soon may or may not be president of America, could have fallen for what is now the most massive mortgage fraud scheme in the history of this country (which will certainly cost banks tens if not hundreds of billions of dollars to ultimately resolve). And while we will have many more discoveries on the matter soon, as we pointed out, the key link in the whole story is the mythical entity known as "Linda Green." While the backstory is by now very well known by most, for those to whom the reference is still unclear, we present the following investigative reporting piece by WHDH.com which explains why the Linda Green signature appearing anywhere in one's mortgage doc history, is a "blessing" and comparable to winning the lottery. Furthermore, we make no ethical judgments about whether strategically defaulting on one's mortgage is "good" or "bad" - the reality is that we are where we are. As Marie McDonnell, a Forensic Mortgage Analyst says, "I'm speechless. The scope of the problem is unimaginable, the depth of the fraud is shocking." And therein lies the rub: when all is said and done, banks will ultimately be saddled with another massive round of losses, which will then necessitate another round of taxpayer bailouts, which will then likely be orchestrated by the mainstream media machine as a conflict between those who pay their mortgages and those who don't, instead of focusing on the core problem: unimaginable greed by the financial system to do whatever it takes to fatten the bottom line, which includes breaking the law. And the longer we pretend the problem does not exist, the bigger the ultimate bail out (see Greece).

 

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Thu, 05/26/2011 - 19:55 | 1314918 augie
augie's picture

wait a second. Is linda green the same name used on Barack's birth certificate?

 

I just realized all to late someone has totaly used that joke before.

boo me.

Thu, 05/26/2011 - 19:54 | 1314922 chet
chet's picture

I'll write a hit on her:  she's a fucking idiot.

Thu, 05/26/2011 - 20:50 | 1315071 CrazyCooter
CrazyCooter's picture

Having moved to Alaska from Texas earlier this year, I finally figured out why Palin was so popular/is popular with certain demographics ... this genuinely eluded me for a very long time.

Once upon a time, Palin was a "small town" politico that got elected governor. She was not really backed by oil interests (a big influence in Alaska). As a result, she didn't support oil interests as governor and engaged in policy that was broadly popular within the state (the current governor is a former oil lobbyist and his policy isn't very popular as best I can tell). Colloquially, she "socked it to the good ol' boys" and did the peoples business. This was the "tea party" roots she will later try to claim.

Being an avid tea partier since the first protest rallies in Dallas in front of City Hall, I never liked Palin for a lot of reasons. What I later realized is that when she got sucked into the national scene, she got "professional handlers". The instincts that had served her well to that date were right out the window.

I have reached the conclusion she was doing so much damage to the oil industry lobby agenda that they paired her with McCain and did whatever they had to do to run her out of town. This agenda succeeded. She QUIT the governorship for Christ's sake. QUIT! How many politicos would QUIT a GOVERNORSHIP? Think about that.

Anyway, what this has exposed in time, partly due to her new handlers and partly the inner narcissist that is almost all politicians, is that she is just another narcissistic politician.

Just thought I would share...

Regards,

Cooter

Thu, 05/26/2011 - 22:35 | 1315346 traderjoe
traderjoe's picture

+1

Thu, 05/26/2011 - 23:38 | 1315481 pan-the-ist
pan-the-ist's picture

Duh.  Where have you been?  Now shut off O'Reilly already.

Fri, 05/27/2011 - 02:03 | 1315652 CrazyCooter
CrazyCooter's picture

I have not watched TV (I assume you mean Fox O'Reilly) in ... 10+ years.

I do not own a TV, nor have I owned a TV or paid for cable in ... 10+ years.

I hope the demeanor and candor of my comments bear this out. You are welcome to log in and check out what I post.

I really could care less what you think.

Why must everyone define reality in terms of TV? Bruce Krasting had a great YouTube that insinuated that folks are TV heads (damn if I can find the link). He only did a few YouTube posts on ZH, but ... I suck at searching aparently ... see him if you care to learn something ... else take my comments at face value.

If I was running the show ... well ... it doesn't matter ... "gravity" will continue to be paitent and in time, things will return to "stable resting places".

I hope you, and your family, prepare accordingly.

Regards,

Cooter

 

Fri, 05/27/2011 - 08:28 | 1315880 DarkAgeAhead
DarkAgeAhead's picture

There is no such thing as a stable resting place.  Not even 6 feet under.  The coming Change will hurt, particularly those bracing or awaiting stability.

Fri, 05/27/2011 - 02:03 | 1315657 Shell Game
Shell Game's picture

Makes a lot of sense, thanks Cooter.

Fri, 05/27/2011 - 07:07 | 1315781 tarsubil
tarsubil's picture

"Anyway, what this has exposed in time, partly due to her new handlers and partly the inner narcissist that is almost all politicians, is that she is just another narcissistic politician."

Basically. So many politicians change when they get to Washington, DC or involved with national politics, it makes you think that the tea party is a futile effort.

Thu, 05/26/2011 - 19:55 | 1314926 famousamos
famousamos's picture

Fraudclosure Bitchez!

Thu, 05/26/2011 - 21:24 | 1315131 JLee2027
JLee2027's picture

Exactly. No bailouts for the banks, they committed fraud and broke the chain of title, while most of us just stuggled to pay our own bills. Now we should pay theirs too?  No way.

I think the end result will be squatters win. For those with a MERS mortgage in foreclosure, hang in there guys, DON'T let the banks boot you.  If you get a default notice, write them a letter, send a fax and challenge it. Make them prove they have an original mortgage note, and ask them their authority to assign mortgage through MERS. Claim they are committing fraud (which they are through MERS).  Tell them if they persist in trying to take your house you will sue them. This does stop some of the banks and attorneys dead in their tracks, especially if they KNOW the paperwork has flaws. 

If that doesn't work fight them in court every step of the way and when you lose, appeal. File pro se if you have to. When you lose and they try to evict you, file again in court and appeal that if you lose. You can hold out for years while the courts figure things out. By that time, the illegal business practice known as MERS should be dead and the survivors will get title.

Do not fall for the refinancing gimmick. That is their chance to "fix" the papers and really trap you. I know it's hard, but ignore it. 

BTW, if that is Palin's new house and there are title issues, they have a moral obligation to back out of the sale. There are plenty of homes available, as we all sadly know.

Fri, 05/27/2011 - 01:27 | 1315620 patb
patb's picture

what prevents someone from submitting a forged
release of deed of trust using the Linda Green Signature?

Submit it showing the deed is released to some
other bizarre MERS entity.

The paperwork is so messed up, how would they know?

Fri, 05/27/2011 - 01:59 | 1315644 JLee2027
JLee2027's picture

You or them committing fraud? If you're suggesting it, that's just stupid. You go to jail, they go free, as always. But...if it's them:

That's why you need to challenge it immediately to the entity that claims to be foreclosing, then again in court. They have dubious authority through MERS to make these assignments, as the authority is self-given and violates state laws in some cases.

I am not a lawyer, but I am a homeowner who's been through this. "They" are crooked as the day is long. Stand up and fight!

Fri, 05/27/2011 - 09:10 | 1316078 bonderøven-farm ass
bonderøven-farm ass's picture

How are you to find out if your mortgage lender used MERS?  Is there a list of lenders that can be found online somewhere?

Fri, 05/27/2011 - 12:33 | 1317129 Thisson
Thisson's picture

Go to your county clerk's property registry department and check who has registered your mortgage.  Not too difficult.

Fri, 05/27/2011 - 15:47 | 1317975 JLee2027
JLee2027's picture

How are you to find out if your mortgage lender used MERS?

It's on your Deed of Trust from the Settlement you went to. BTW, if you last settled between 2002 and 2007, chances are pretty high. Also, you can search by your propery address here:

https://www.mers-servicerid.org/sis/

Screenshot everything on YOUR MORTGAGE, so if it changes, you have a trail.

Thu, 05/26/2011 - 19:56 | 1314927 buzzsaw99
buzzsaw99's picture

Will the real Linda Green please stand up... and show us your titties?

Thu, 05/26/2011 - 20:22 | 1315000 I Got Worms
I Got Worms's picture

Accidentlly junked you. Fat finger trying to hit reply.

Regarding the real Linda Green's tiddies, if you saw that 60 Minutes piece where she was interveiwed - you do not want any part of those!

Thu, 05/26/2011 - 20:35 | 1315010 buzzsaw99
buzzsaw99's picture

un-junk me worms!

edit:

OMG!! Google:

 

the real linda green mortgage signature

I'M #1 BITCHEZ!!

Thu, 05/26/2011 - 20:41 | 1315053 FOC 1183
FOC 1183's picture

+1 for the laugh. But of course, I now have to junk you just to maintain ZH karma

Thu, 05/26/2011 - 20:54 | 1315090 blunderdog
blunderdog's picture

Don't be silly.  There's a Linda Green out there who's right for each and every one of us.

Thu, 05/26/2011 - 21:38 | 1315204 williambanzai7
williambanzai7's picture

After seeing who the real Linda Green is, you don't want this, trust me.

Fri, 05/27/2011 - 00:30 | 1315557 Hacksaw
Hacksaw's picture

They had her on TV, some old cracker living in a trailer down in Georgia if I remember correctly.

Fri, 05/27/2011 - 05:43 | 1315747 ebworthen
ebworthen's picture

Salted or unsalted?

Thu, 05/26/2011 - 20:00 | 1314932 Rodent Freikorps
Rodent Freikorps's picture

Palin supporters have a good reason to have a thin skin. The attacks on Palin - a private citizen - by the MFM are unprecedented.

What other human has ever been as persecuted by the media? And over bullshit as trivial as her wardrobe? WTF?

Thu, 05/26/2011 - 19:59 | 1314939 chet
chet's picture

The media persecutes someone different every week.  What are you talking about? 

Right now, it is DSK.  Last week it was Trump.  The month before that it was Kate Plus 8.

Thu, 05/26/2011 - 20:01 | 1314943 Seasmoke
Seasmoke's picture

Kate deserves it

Thu, 05/26/2011 - 20:18 | 1314990 Manthong
Manthong's picture

K+8 deserves an ankle bracelet and (hard) time as houskeeper at DSK's new digs.

Thu, 05/26/2011 - 20:09 | 1314968 delacroix
delacroix's picture

she gets persecuted, because she is an idiot, and corrupt to boot.

Thu, 05/26/2011 - 20:16 | 1314975 JW n FL
JW n FL's picture

but shes such a great Mother! look at the job she did with those kids!

Fri, 05/27/2011 - 06:54 | 1315776 ISEEIT
ISEEIT's picture

Yeah, you sure got that one there figer'ed out! Only geniuses like obama should be allowed to rule us. Sure has worked out well following the MSM's pick!

The mark of a great president? Assassination. So maybe we won't get great but somebody not sponsored by Goldman's or B.P. might be worth a gamble?

 

Thu, 05/26/2011 - 20:40 | 1315048 JPG101
JPG101's picture

Palin is not a private citizen by her own desire. Saying someone who might run for the office of president is a private citizen is twisted logic at best. She is a media-political personality. She is on Fox and shows up (for a very big fee) wherever a right wing thought thug is needed.

Thu, 05/26/2011 - 21:30 | 1315169 JLee2027
JLee2027's picture

Thug? Don't make me laugh.

She's a babe in the woods compared to thugs son.  You must mistake reminding the world of how this country was founded as thuggary. The "thugs" are the ones who want all of us to forget that and accept their rule, cause they say so.

Thu, 05/26/2011 - 23:42 | 1315487 topcallingtroll
topcallingtroll's picture

You make a very good point as to why we should have never changed the property requirement for voting.

Fri, 05/27/2011 - 08:00 | 1315832 Bob
Bob's picture

It was the "thought" part that made me laugh.   Funny!

Fri, 05/27/2011 - 00:10 | 1315530 Things that go bump
Things that go bump's picture

Persecuted!  There is an old showbiz saying that any publicity is good publicity.  There are politicians who would pay good money for the attention that is wasted on her.  

Fri, 05/27/2011 - 07:12 | 1315784 tarsubil
tarsubil's picture

That's true and she is reaping the benefits. It is just conservatives see the nitpicking and highly critical coverage of Palin and compare it with the bootlicking coverage of Obama and get upset. The assumption is then that Palin really does represent country folk but it is simply more identity politics like with W and Obama. They are all scumbags.

Fri, 05/27/2011 - 00:48 | 1315578 Hacksaw
Hacksaw's picture

Poor little Sarah, of course those sort of things seem to happen to self righteous bitches. It tends to come back and bite you in the buttocks when you attack someone else on their morals when your family is full of alley cats. You better be pure as the driven snow if you are going to play the family values card in politics. Just ask Newt, he can tell you all about it.

Fri, 05/27/2011 - 12:02 | 1317006 SRV - ES339
SRV - ES339's picture

Palin supporters have a good reason to have a thin skin. The attacks on Palin - a private citizen - by the MFM are unprecedented

Another sexually frustrated old white guy with a crush on the Annie Oakly wannabe bimbo!

BTW... Palin is not a private citizen, she craves (and nurtures) ANY publicity so horny, pathetic white guys will pay thousands of $s to drool over her, while she recites meaningless gibberish written on the palm of her hand... and she's making millions off mouth breathing rodents dumb enough to fall for her shtick!

The lady is dumb as a post, and an embarassment to even her own party... she will milk this (you) until 2012, and will then fade into obscurity... with millions stolen from you and your friends.

Thu, 05/26/2011 - 19:58 | 1314935 Clycntct
Clycntct's picture

Please let it not be. Radiation may be a better choice.

" who soon may or may not be president of America"

Thu, 05/26/2011 - 19:59 | 1314938 jal
jal's picture

" ... which will certainly cost banks tens if not hundreds of billions of dollars to ultimately resolve)"

What about the pension funds. They should get their money back because of the fraud. How much will the lawyer and accountants charge the pension fund for getting the money back from the banks. 

 

As usual, the accountants and the lawyers that invented the fraud are going below the radar and making a fortune.

jal

Thu, 05/26/2011 - 21:32 | 1315174 JLee2027
JLee2027's picture

There's no fix, it's TSUF - Too Screwed Up to Fix.

System collapse is coming. Inevitable really.

Thu, 05/26/2011 - 20:06 | 1314945 Shell Game
Shell Game's picture

Surprising that there are folks with the wherewithal to direct their browsers to ZH, and yet still defend one of the two parties.  Insane.

Thu, 05/26/2011 - 20:20 | 1314992 Rynak
Rynak's picture

Never really understood this as well. Though to be fair, even if it isn't left vs. right, the average ZH-member is not free of biases based on dichotomies.

For example, because of the current rampant crap produced by collectivism and governments, there overally is a bias towards anarchism and individualism. Holding such a position may make sense right now for strategic reasons... but actually permanently believing this, is just falling for another false dualism.

I understand that on such a popular site as ZH, it cannot be prevented that such fanboyish "campers" exist. Still, it's kinda sad seeing people who realize the deception of some dichotomies, and who then fall for the next one.

Thu, 05/26/2011 - 21:03 | 1315107 Clay Hill
Clay Hill's picture

"For example, because of the current rampant crap produced by collectivism and governments, there overally is a bias towards anarchism and individualism. Holding such a position may make sense right now for strategic reasons... but actually permanently believing this, is just falling for another false dualism."

 

Rynak, this is not an attack, but you may want to reconsider that last bit.

I don't consider my personal, Individual rights as a false dualism, paradigm, meme or any kind of easily dismissed -ism. I feel the same way about your rights, and any other person, especially those who contribute to society without a governmental mandate to do so.

Perhaps you could clear it up for me?

Thu, 05/26/2011 - 21:21 | 1315130 Rynak
Rynak's picture

I think there is a misunderstanding here. Okay, let me put it as simple as it can get:

Observation: Collevtive and collective control acts bad.

Reaction: Collective and collective control bad. Individual good.

Problem: This is a dichotomy. Where there are multiple individuals, there is a collective. Where there is a collective, there are individuals. Both is just a matter of scale anyways. And where there is a collective, there is a need for coordination between individuals.

So, i'm not saying "your individual rights and needs don't matter". I ALSO do not say "collective control and needs don't matter".... instead, i reject this dichotomy alltogether.... i say "Each cannot exist without the other anyways. Thus BOTH matters, and the question is just HOW individuals interact with each other and HOW collective needs are managed". The problem as well as solution does not lie in which of both is right, but how both works and interacts with each other. After all, isn't that precisely this is totally broken right now, the reason why we are so dissatisfied?

Thu, 05/26/2011 - 21:24 | 1315156 Clay Hill
Clay Hill's picture

Cool. \

Now we can get down to haggling over the chain of command.

I propose that given what I consider one and a half centuries of governmental excess, maybe we need a prolonged phase of Individual rights returning to primacy. To facilitate this, many of the Institutions now in place will of course need to be abolished.

Thu, 05/26/2011 - 21:33 | 1315176 Rynak
Rynak's picture

The problem is that if you do not set limits to individual rights (including large scale consequences), you just end up with another variant of the oh so hated "oligarchy". Simple example: If the power of corporations, as well as individuals, does not have an upper limit (which may be a soft limit), it is just a matter of time until you get another "marketmaker".

I do agree that a strong reduction in gov size and coverage is desirable, if only to "start learning to selfsustain and balance a small collective infrastructure, before going to a midsized infrastructure". Clear limitations, both at the bottom as well as the top, are however necessary anyways.... in fact, you CANNOT have a free market without enforced lower and upper limits, because if you do not have them, then it is just a matter of time until agents either cannot enter the market anymore, or cannot leave it anymore via monopolies. A sustainable free market is dynamicity in a defined "range".

Bottom line: Individual rights only are as good the collective rights (and enforcement). We may not need such a fat set of collective infrastructure and regulation, but we DO need a good one, for individual freedoms to be protected.

Thu, 05/26/2011 - 23:43 | 1315490 Clay Hill
Clay Hill's picture

I do agree that there are legitimate functions for Gov't to perform. By necessity the Individual lends power to the Collective in good faith that their rights and the rights of others will be protected. So far so good.

 

I do not agree with the concept of "Corporate Personhood", I consider it bad jurisprudence, that can only lead to the harm of the Individual, and the Collective. Without this fallacious concept in play, the limits you mention are easier to define and enforce. Individuals are somewhat self-limiting in a way that Corporations are not, "on a long enough timeline...".

 

Now back to Gov't.

The fact that every level of Gov't seeks to increase its power at the expense of Individual rights is not a new development, but is in fact part of its' nature. Gov't is force. Over time errors creep in, some by default, some by design. Gov't is made up of people, and their flaws are reflected in the finished product. This is unavoidable.

As it stand now, the Gov't we have has grown to the point that Indivivdual rights are threatened by what must surely be seen as an approaching police state, if in fact it has not already arrived. The economically burdensome social welfare experimentation supported by Gov't power to tax weakens the family structure (whatever flavor you call family is O.K. with me BTW), and thereby society as a whole.

Forgive me if I (and many others, no doubt) are willing to throw this ugly baby out with the bathwater and start over. At some point, a sane person with a genuine concern for posterity must begin to sense it as a duty.

 

 

 

Fri, 05/27/2011 - 00:41 | 1315570 Rynak
Rynak's picture

I do agree that there are legitimate functions for Gov't to perform. By necessity the Individual lends power to the Collective in good faith that their rights and the rights of others will be protected. So far so good.

I'd like to reinforce this. This is something which i strongly miss from current systems. While it may be true that some payments or work-contributions (if one uses the relevant services) must be mandatory (i.e. streets, water infrastructure, etc), it should be MUCH more pronounced that citizens grant the state the means to do certain things, NOT the state without popular backing doing things and extorting the population for the required ressources. With this, i do not mean that citizens should "vote" and "allow" every single damn tiny program, but if there is popular rejection of certain programs, the population should be able to *directly* reject funding unless its demands are met.

I do not agree with the concept of "Corporate Personhood", I consider it bad jurisprudence, that can only lead to the harm of the Individual, and the Collective. Without this fallacious concept in play, the limits you mention are easier to define and enforce. Individuals are somewhat self-limiting in a way that Corporations are not, "on a long enough timeline...".

Mostly agree, though i am not so confident yet about the "how". So, i do consider corporate personhood a problem, but am not confident yet how to replace the role of this concept.

@Gov corruption and power accumulation:

I doubt that there is one concept to fix it all, and describing all the necessary implementation details would also probably go beyond the size of a post. Plus, i for logical reasons consider it impossible to create a model, that cannot be corrupted (for the simple reason, that humans can change any model, given enough time/effort). I do however think, that there are some guidelines that do increase resistance against corruption:

1. Transparency. Every deception relies on it not being detected by the majority. Truth is the #1 enemy of lies. Actions of the gov, as well as the laws, should be detectable by anyone interested in it, and be understandable without unreasonable effort (i.e. simplicity and explanation matters here. Take for example current laws: Such a complicated mess that no sane person can understand it anymore without a lawyer).

2. Strong cooperation and sharing of work, between the coordinating body (state) and the population. In a nutshell, what i mean is less "gov does everything, and citizen just consumes", and more "gov and citizens cooperate and share the workload, decision and responsibility".

3. Fuck elections. This is designed for drones voting for big daddyy to decide everything for them. Democracy exclusively via elections is just a joke..... simply there to give mentally retarded people the sense of being able to decide, while precisely offloading all decision and responsibility to the gov. Not saying that there should be no elections at all, but all major gov programs, should be rejectable via direct vote on said program.

4. Making parties and politicians more accountable for what they do, ACROSS election terms. For example, if a party runs a significant budget deficit, it should lack precisely those ressources, when it is elected the next time. Some stupid laws and persecution isn't enough... make them feel the consequences of their actions, by them being affected by the consequences of their actions.

Fri, 05/27/2011 - 01:17 | 1315612 Clay Hill
Clay Hill's picture

I think you are correct in stating that no one system can "fix it all", TJ arrived at the same conclusion, so we must be in good company. Whether you agree with his prescription for cyclical cleansing of the system can be left for another time. I consider it a foregone conclusion, but then...

 

Your generosity in such a thorough response to my previous post is appreciated. You have given me new avenues for thought, thank you.

 

Fri, 05/27/2011 - 05:53 | 1315750 StychoKiller
StychoKiller's picture

The Ancient Greek method of legislating:

"Anyone wishing to propose a new law had to do so while standing on a public platform with a rope around their neck. If the law was passed, the rope was removed. If the law was voted down, the platform was removed."

Thu, 05/26/2011 - 21:01 | 1315114 samsara
samsara's picture

Nicely said. 

Having awoken from one false dichotomy, One should pause before defending other unquestioned stances before reviewing those too.

-----------------------

Yes, my guard stood hard when abstract threats
Too noble to neglect
Deceived me into thinking
I had something to protect
Good and bad, I define these terms
Quite clear, no doubt, somehow
Ah, but I was so much older then
I’m younger than that now

 

 

Thu, 05/26/2011 - 20:24 | 1314999 strannick
strannick's picture

 

Exactamundo... I saw the thread predictably decending into the diametrically hued hell of red and blue, wishing the Republicrats (sorry, I said Repub 1st; the Demlicans) and their Goldman Sachs Puppeteers could be egged and tomatoed already.

Even though they claim to be doing 'Gods work', hopefully God will understand.

Thu, 05/26/2011 - 20:43 | 1315056 Transformer
Transformer's picture

"Surprising that there are folks with the wherewithal to direct their browsers to ZH, and yet still defend one of the two parties.  Insane."

Fascists one and all.

Thu, 05/26/2011 - 20:43 | 1315063 Dr. Engali
Dr. Engali's picture

I have to agree with you there. It stuns me to see any politician (other than Ron Paul) defended in this forum.

Fri, 05/27/2011 - 05:56 | 1315751 ColonelCooper
ColonelCooper's picture

The problem is that we jump on each other so quickly for partisan behaviour that I don't believe really exists.  For example, if I comment negatively about something that the Republicans (who I LOATHE) did or did not do, without making an equal gripe about Democrats (who I DESPISE) in the same breath, ninety two knee jerking dipshits will crawl out from under rocks to tell me how stupid I am for not having gotten past the two party system.

So now, we've all turned into a bunch of fags about it, having to qualify every statement we make with stupid fucking terms like Demlican and Republicrat.  So in the future, keep in mind: 90% of us are pissed off at ALL, EVERY, ANY politician/party, and don't need over intellectualized arrogant pusbags to point out that the political system is indeed FUBAR. 

Thu, 05/26/2011 - 23:42 | 1315489 pan-the-ist
pan-the-ist's picture

I only do it when the troll mood strikes.

Thu, 05/26/2011 - 20:04 | 1314949 Seasmoke
Seasmoke's picture

why is anyone still paying their mortgage ?......actually you are putting yourself at much greater risks if you DO still pay your mortgage

Thu, 05/26/2011 - 20:14 | 1314971 Misean
Misean's picture

Prolly the same people who give a rat's ass who the next Telepromter in Thief of the USeless empire is.

Thu, 05/26/2011 - 21:06 | 1315127 Yen Cross
Yen Cross's picture

 Misean, always appreciate your posts. Yen Cross

Fri, 05/27/2011 - 06:08 | 1315759 ColonelCooper
ColonelCooper's picture

Because I can't quite bring myself to NOT pay it.  I'm like a conditioned lab rat.  Check this out:

I refied in end of '05.  Sold from my Credit Union to Countrywide.  Then BofA, now Fannie w/BofA servicing.  (I never knew Fannie actually held it until reading articles here, and researched it.)  Bof A doesn't even have my Goddamned name right.  They have the papers in my wifes maiden name.  They have tried repeatedly to get me to re-fi.  Think I don't know that there's a pretty good chance that they have shit screwed up?

Part of it is this: I don't need the hassle.  I have to live somewhere, I like it here.  I have a small mortgage.  I also know that these banks are holding back on foreclosures on a lot of underwater homes, because they can't take the hit on their balance sheet to repo..  Well, in my case I have better than 50% equity (in fiat unicorn fantasy land anyway), and it seems to me that my house would be one that they would WANT to try to get back. 

My problem is that I didn't build more than I could afford, didn't use it like an ATM, and made extra payments.  So AT THIS POINT, as long as I can make the payment I will.  I do know however, that if things turn for the worse, it will be the first payment that gets "missed".

Thu, 05/26/2011 - 20:17 | 1314980 Duuude
Duuude's picture

 

Linda Green=Lender Gain

 

Thimk about it...

 

Thu, 05/26/2011 - 20:36 | 1315028 Shell Game
Shell Game's picture

In español, linda means beautiful.  So, "Beautiful green"...  Something else to think about..

Thu, 05/26/2011 - 22:48 | 1315371 XenoFrog
XenoFrog's picture

It's closer to "fine" and "pretty" than beautiful. Nit picked.

Fri, 05/27/2011 - 02:09 | 1315663 Shell Game
Shell Game's picture

You can pick my nit any day, guapa.  ;-)

Thu, 05/26/2011 - 20:20 | 1314987 wombats
wombats's picture

Tyler is 1/2 right.  It's not just a hit piece on Palin, but there is a larger story of coming defaults and conflict between those that pay their mortgages and those who don't.  Sadly the frauds went both ways.  The "homeowners" didn't have a gun to their heads when they signed mortgage papers for loans with teaser rates and variable rates and balloon payments.  There were a lot of borrowers that were trying to game the system.

Thu, 05/26/2011 - 20:34 | 1315033 blunderdog
blunderdog's picture

conflict between those that pay their mortgages and those who don't

Can you elaborate a bit on this?

I've seen a lot of animosity posted here towards the people who aren't paying back their mortgages--at least in some general non-specific way.  What exactly is the "conflict" here?  Why does a mortgage-payer care at all whether that other guy isn't paying?

I don't have a mortgage, never have, so I'm not involved.  My credit sucks, too, so it's not like I could get one.  But I'd be interested to get a better understanding of this perspective.

Thu, 05/26/2011 - 23:35 | 1315468 topcallingtroll
topcallingtroll's picture

I will vote against any politician who wants to give people who dont pay their mortgages free equity or free money.

It is not fair to people who are paying their mortgages to also be responsible for paying the mortgages of delinquents. It punishes honesty, thrift, and those who are conservative in their finances and rewards its opposite.

It is pure moral hazard.

Fri, 05/27/2011 - 01:21 | 1315610 Hacksaw
Hacksaw's picture

There is no moral imperative to live up to one's side of a contract anymore. It's been coming a long time and when the government gave the international corporate fascists and TBTF financiers tax payer money instead of demanding they liquidate, moral hazard cut moral imperative's head off and put it up on a pole.

Thu, 05/26/2011 - 23:49 | 1315496 pan-the-ist
pan-the-ist's picture

Because that bad mortgage is someone's retirement.  I used to feel the same way that you do, and for the most part still do, but like it or not, you're not fucking the bank when you don't pay your mortgage, you're fucking over the 'dumb money' and that's most of the honest people.

Thu, 05/26/2011 - 23:55 | 1315504 blunderdog
blunderdog's picture

That "dumb money" is fucked whether you pay your mortgage or not.  The banks aren't insolvent because people aren't paying mortgages.  The banks WERE insolvent, which is why they can't foreclose when people stop paying their mortgages.

Whether people pay their mortgages or not isn't going to make a whit of difference to anyone who's depending on our TBTF criminal and insolvent corporations for retirement.  Really.  That retirement money was lost a long time ago.

(PS: Who knew TCT was such a starry-eyed idealist?)

Fri, 05/27/2011 - 03:40 | 1315707 Moon Pie
Moon Pie's picture

TBTF Creates SPV for MBS pool.  Hires a Trustee.

Trustee knows fuck-all about mortgages and underwriting.

Trustee looks for underwriting and mortgage selling Pimps.

Finds:  Taylor Bean, Countrywide, Quick Loan Funding, Ameriquest, Long Beach et. al.

Pimps only know how to pimp and now have the gas to be Pimp-o-la extraordinaire.

Pimps write as fast and as furious as they can.  Fog a mirror?  Sign right here.  720 Fico?  Sign right here.  Pimp that hacienda. 

Only have a brokers license? No worries, Insert yourself as lender and use our "dream machine" underwriting software.  Sign up with our pal MERS. Fries with that? 

TBTF:  Lovin life!

SPV Trustee:  Hookers and coke!

36 months later: Desolation Row.

 

Thu, 05/26/2011 - 21:49 | 1315232 lizzy36
lizzy36's picture

Wall street started making billions off of MBS. They started pushing lenders for more product, Lenders having already saturated the "prime market" went bottom fishing.

This bottom fishing was supported by the Bush White House. President Bush in at least 5 of his State Of The Union speeches stated that increasing the percentage of homes owned by Americans was part of his "economic and social policy". It was also supported by then Federal Reserve Chairmen Allan Greensapn:

American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.

  • February 2004, in a speech praising the benefits of adjustable-rate mortgages

So now the lenders, pushed by WS for product have lowered the criteria to include anyone with a pulse. The average guy on the street, is told by the "experts" that he can afford this; that "this" is a good thing. And that guy thinks "well the bank wouldn't lend me the money if i couldn't pay it back". So he signs onto something that he doesn't fully understand because the experts told him it was the "right thing to do".

The experts also told him housing prices would never go down:

While local economies may experience significant price imbalances, a national severe price distortion seems most unlikely in the United States, given its size and diversity (Greenspan 2004)

Were there borrowers who tried to game the system: absolutely. But they don't compare to what Wall Street was and is doing. I think at this point asking where the regulators were and are is rhetorical.

Fri, 05/27/2011 - 00:18 | 1315538 JLee2027
JLee2027's picture

Your story is totally incomplete without reminding everyone that it wasn't Bush that started this, his admin was just along for the ride. It was free and easy money, housing for everyone, loans with no doc...i.e. Barney Frank. The disaster of Freddie Mac and Fannie Mae was totally a Democratic Party one that has cost trillions to date with trillions more ahead.

Fri, 05/27/2011 - 08:12 | 1315852 Bob
Bob's picture

Those bad homeowners who "took out" mortages they couldn't afford:

The Monster : How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America--and Spawned a Global Crisis

Michael W. Hudson

Introduction:
Bait and Switch

A few weeks after he started working at Ameriquest Mortgage, Mark Glover looked up from his cubicle and saw a coworker do something odd. The guy stood at his desk on the twenty-third floor of downtown Los Angeles's Union Bank Building. He placed two sheets of paper against the window. Then he used the light streaming through the window to trace something from one piece of paper to another. Somebody's signature.

http://www.investorsinsight.com/blogs/john_mauldins_outside_the_box/archive/2010/10/25/how-a-gang-of-predatory-lenders-and-wall-street-bankers-fleeced-america-and-spawned-a-global-crisis.aspx

 

Thu, 05/26/2011 - 20:22 | 1314994 somethingelse
somethingelse's picture

Linda Green is people.  

no wait, that was soylent green.

Thu, 05/26/2011 - 20:31 | 1315032 NotApplicable
NotApplicable's picture

Pure genius.
+1 internets

Thu, 05/26/2011 - 20:20 | 1314996 bugs_
bugs_'s picture

I am a Palin fanboy but I do think there is also another story within the story within the story.  In addition to the famous Linda Green, we have a 980k foreclosed property going for 1.7m a few years later in a terrible housing market.  This story has angles AND curves!

Thu, 05/26/2011 - 20:23 | 1315005 sabra1
sabra1's picture

can sarah see russia from her new house?

Thu, 05/26/2011 - 20:36 | 1315040 Misean
Misean's picture

No, but she can see Wile E. Coyote.

Fri, 05/27/2011 - 06:13 | 1315763 ColonelCooper
ColonelCooper's picture

No, but Tina Fey can.

Thu, 05/26/2011 - 20:41 | 1315052 Caviar Emptor
Caviar Emptor's picture

As president of the Linda Green fan club, I want to invite you all to her book signing tomorrow at the Mall of America! Disclaimer: I may be helping her to meet the huge demand by signing for her

Thu, 05/26/2011 - 20:42 | 1315061 Transformer
Transformer's picture

She has a book out?

Fri, 05/27/2011 - 01:35 | 1315629 Hook Line and S...
Hook Line and Sphincter's picture

No, she has a movie, Behind the Linda Green Door

The hot colloidal silver squirting action is an unbelievable turn-on. 

Thu, 05/26/2011 - 20:44 | 1315058 redpill
redpill's picture

Palin will never be President.

Thu, 05/26/2011 - 20:44 | 1315067 Transformer
Transformer's picture

Why not?  You think the other choice will be any better, or do any different once elected?  Clinton, Bush, Obama, Palin.  What's the difference?  They all have Wall Street backing.

Thu, 05/26/2011 - 21:35 | 1315188 JLee2027
JLee2027's picture

She's not running, that's why. Just a bogeyman (or woman in this case) for the libtards to drive them crazy.

Thu, 05/26/2011 - 22:12 | 1315292 grunk
grunk's picture

Maybe Sarah Palin IS Linda Green!

Peel back the onion...

Fri, 05/27/2011 - 01:40 | 1315631 Hook Line and S...
Hook Line and Sphincter's picture

If she was, the movie, Behind the Linda Green Door, would have done better at the box office.

Thu, 05/26/2011 - 20:43 | 1315064 Newsboy
Newsboy's picture

Sarah Palin breast fed her babies, nailed and field dressed a moose. I think she should have her own TV show.

I don't want to see this Fundamentalist Republican Lara Croft turned into an Adolph Hitler/Eva Peron cross.

She won't be evil as long as she doesn't get put in the wrong slot.

Maybe she can wear more clingy red things.

Thu, 05/26/2011 - 20:50 | 1315078 Yen Cross
Yen Cross's picture

  Linda Green is (PERFECT) Yen Cross

Thu, 05/26/2011 - 21:00 | 1315109 dark pools of soros
dark pools of soros's picture

why does anyone on here care about either party?  Unless you troll for those parties your focus shouldn't be on the antics at the kiddie table of the holiday dinner... 

 

How about fooling the FED and its private banks to keep taking on more and more of America's debt as China, etc gets out of the picture and then when the FED nearly has all of it and thinks it is time to show its leverage, we force a 20 cents on the dollar haircut to eliminate it all?

Then coin new money and give the FED et all a 1/1000 exchange rate of their fiat to the new currency to spite the fuckers...

As long as a side deal with the BRICs is in place we can watch Europe go into hyperinflation flames with all the western central bankers and still be able to have decent price oil since the military would still continue and not be confronted by the Eastern powers... 

How else to get out of the grip?

 

 

Thu, 05/26/2011 - 23:23 | 1315454 topcallingtroll
topcallingtroll's picture

I care because the tea party knocked off several incumbent republicans who voted for bailouts.

Only a minority of republicans overall voted for bailouts.

The tea party seems to be the only hope to dramatically slash government spending.

Thu, 05/26/2011 - 23:54 | 1315502 pan-the-ist
pan-the-ist's picture

If the roles were reversed, the republicans would have voted for the bailouts.  They both serve the same master.  The only way you'll see the TEA party win is if it will further weaken the position of the working class - even if TEA is unpopular with the Corporate Welfare socialists, they can still be useful idiots, like that hot chick they ran with McSame... forgot her name.

Thu, 05/26/2011 - 21:06 | 1315119 tbd108
tbd108's picture

She can't possibility be any worse than Zero. After all, moose dressing requires skill and her political instincts have to be better than being a Chicago machine lapdog.

Thu, 05/26/2011 - 21:36 | 1315189 Yen Cross
Yen Cross's picture

 I care.

Thu, 05/26/2011 - 22:04 | 1315265 Caveman93
Caveman93's picture

Linda Green = Housing Herpies. 

Thu, 05/26/2011 - 22:08 | 1315281 williambanzai7
williambanzai7's picture

Thu, 05/26/2011 - 22:17 | 1315308 Rynak
Rynak's picture

WB, it may have been said over and over, but it hasn't been said often enough: You are awesome :)

Thu, 05/26/2011 - 22:45 | 1315372 lizzy36
lizzy36's picture

You rock!! Pure Brillance.

Fri, 05/27/2011 - 02:50 | 1315681 Peter K
Peter K's picture

I missed who the Pavlovians are. Are we speaking to the hacks who write the hit pieces or the individuals who respond to them?

Fri, 05/27/2011 - 06:16 | 1315760 ebworthen
ebworthen's picture

I'm not sure but to me it sounded like the Palin loyalists who knee-jerked a reaction rather than absorbing the substance of the problem; banks breaking the law with an often complicit and/or complacent judiciary and media.

Fri, 05/27/2011 - 04:59 | 1315731 RichardP
RichardP's picture

There was only one Pavlov (singular).  There are many Pavlovian responses (Pavlovians; plural).  The response is always to something that has already been done.  Therefore, the Pavlovian Responses (or, Pavlovians) would be those who are responding to the pieces as tho they are hit pieces.

Fri, 05/27/2011 - 05:58 | 1315755 ebworthen
ebworthen's picture

 

Tyler,

Thank you for saying what I feel.

"And therein lies the rub: when all is said and done, banks will ultimately be saddled with another massive round of losses, which will then necessitate another round of taxpayer bailouts, which will then likely be orchestrated by the mainstream media machine as a conflict between those who pay their mortgages and those who don't, instead of focusing on the core problem: unimaginable greed by the financial system to do whatever it takes to fatten the bottom line, which includes breaking the law."

Perfect.

 

Fri, 05/27/2011 - 08:27 | 1315883 topcallingtroll
topcallingtroll's picture

If you and others who believe this will openly oppose any taxpayer bailouts of delinquents then we can focus on the core issue of bank reform.

However if your goal is that people who pay their mortgages on time now have to indirectly or directly subsidize people who dont psy their mortgages then yes you are right. We will be stuck forever in a battle between homeowners who pay their bills and homeowners who do not.

Fri, 05/27/2011 - 08:47 | 1315962 boooyaaaah
boooyaaaah's picture

The real game plan or end game  here is the end to private property.

Thats what the new world order is all about.

And ZH is a willing or unwilling accoplis.

And yes GS, the FED and politicians are in the same boat as ZH

Just say no to the debt ceiling increase, Tyler

Just let me hear you say it

Fri, 05/27/2011 - 11:12 | 1316701 blunderdog
blunderdog's picture

banks will ultimately be saddled with another massive round of losses, which will then necessitate another round of taxpayer bailouts 

What I don't understand is why you can't just put the banks into receivership, yanno, like the law says.

Not to say we should let a good crisis go to waste.  But all this wailing about having to reinvent the wheel seems a bit silly.  We do already have a solution, and it's been in place for a very long while, and it has been used effectively countless times.

Seems like sometimes that's forgotten.

The banks fucked up.  Wipe out the shareholders, haircut the bondholders, protect the depositors, liquidate the holdings.  Short-sell the foreclosed homes, foreclose on the non-performing residents, and we can get on with whatever's left as a functioning RE market and banking system.

Is there a compelling reason (either logical or ethical) why this SHOULDN'T be done? 

(The politically-expedient reasons aren't too compelling.)

Fri, 05/27/2011 - 07:14 | 1315788 L_Estasi_dell_Oro
L_Estasi_dell_Oro's picture

Side note:

You mention "Corporate Personhood", but there's more going on with this wole coportation stuff than most people know.

Have you met your personal strawman?

http://www.youtube.com/watch?v=ME7K6P7hlko

 

And how many know about the different kinds of United States?

http://www.usavsus.info/

In the U.K., people are also waking up:

Freeman In Gloucester Court 29th Jan 2010 Part 1 & 2.

http://www.youtube.com/watch?v=uU7G6XIMt2Q

http://www.youtube.com/watch?v=nB_hO1S7UjA

Birkenhead judge been arrested.avi

http://www.youtube.com/watch?v=cv80IMBuPiI

 

Every single one should watch and read this stuff!

Fri, 05/27/2011 - 07:47 | 1315822 Lone Mad Minute...
Lone Mad Minute Medic's picture

Hey! Didn't Oba-Mao use the Linda Green pen to robo sign the new Patriot Act?

Robo signing is all the rag now!

Fri, 05/27/2011 - 08:22 | 1315873 topcallingtroll
topcallingtroll's picture

Sarah Palin is not tea party.
She is trying to coopt the real tea party.
Real tea partiers are suspicious of her,
but if she is the only real choice against
obamao then we vote for her reluctantly.

Fri, 05/27/2011 - 08:28 | 1315890 tarsubil
tarsubil's picture

You'd be better off writing in Ron Paul or Donald Duck or staying home and washing the toilets. Raise your standards or nothing in politics will change.

Fri, 05/27/2011 - 08:41 | 1315935 boooyaaaah
boooyaaaah's picture

Good to see Zero Hedge Back peddling

You want fraud?

Try Naked Short Selling 

 

Fri, 05/27/2011 - 08:52 | 1315994 boooyaaaah
boooyaaaah's picture

On the slightly brighter side

I think Joe Kernan -- may be assuming the mantle of Mark Haines

Not that Mark was that righteous

But just that they think he was --- at least a day after he passed

Hopefully Joe goes to Beck News ---Ha Ha Ha Ha

Fri, 05/27/2011 - 13:54 | 1317422 mind_imminst
mind_imminst's picture

 

***Raises hand***

 

 

 

It was me, but it wasn't a Pavlovian response, I swear. I have no affiliation with and don't support Mrs Palin as a politician. I have been following the MERS/Linda Green sotry here at Xero Hedge for some time now and it is rather complex. As someone who might purchase a distressed/foreclosed property, it would be good to know what is going to happen to properties with a fraudulent title. What is the legal end game - for the banks - for the original owners - for the new owner? Is it a state issue, or will the Feds take over and either protect the banks, or establish a fund for the people who were victims of the fraud. For someone who owns stocks in the big banks or perhaps a REIT, what does it mean for stock value? What does it mean for dividend income? It seems quite complex. I rely on Zero Hedge contributors and commenters to help sort it out. It is a good source of info. The Palin connection, while an interesting nugget, that could help shed more national light on this issue, is not the real important information/analysis. The very in depth look at her new house/amenities, the address, the video, seemed waaaay out of place and a distraction. Having her name in an ambiguous title associated with fraud, made the article look like a political hit piece, not quality analysis of foreclosure fraud. I had to make a point about it, because even though I am not a supporter of Palin, it seems she gets waaay to much unjustified criticism. All the way from being accused of faking a birth of her child to practically pulling the trigger on Gabby Giffords.

 

 

 

Anyway, kudos for bringing the subject back to the heart of the matter.

Fri, 05/27/2011 - 15:56 | 1318003 JLee2027
JLee2027's picture

Property rights are state issues. Feds can't do squat, but they do cry a lot about it. Don't be fooled by that....laws of your state will mostly decide this issue.  Feds can't fix it, but there have some court cases where it appears MERS violates Federal law as well. 

So - it is complex, because a hundred legal doors have been opened in the past couple years to discover which one(s) will kill MERS and the securitized loan process in court and protect homeowners from illegal fraudclosure. 

 

Fri, 05/27/2011 - 14:28 | 1317670 Army of Darkness
Army of Darkness's picture

There are actually Sarah Palin supporters that read Zero Hedge?  Are you people serious?  Have you not heard of Ron Paul yet?

Sat, 05/28/2011 - 09:37 | 1319146 TruthBeforeAll
TruthBeforeAll's picture

There's dishonesty, then there's intellectual dishonesty. This is an example of the later. I'm just curious, did all of you girls get passed over for prom queen? I know it hurts, but you really need to let it go.

Mon, 05/30/2011 - 22:51 | 1324284 joiceca
joiceca's picture

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Tue, 05/31/2011 - 15:31 | 1326170 Sokhmate
Sokhmate's picture

regarding the term "Pavlovia Fringe"

I think it is a fringe only on ZH. It would be more of a Pavlovian Mainstream elsewhere. Do you concur?

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