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Meet Danielle And Jim Plus 9 Part 2 - This Time Squatting On The Ratigan Show
Today's media sensation (and future leaders of some symbolic resistance) - the Earls, who after falling behind on their $880,000 loan, inspired by recent events, decided to take matters into their own hands (and the hands of their 9 children) and broke back into their foreclosed house. The police in local Simi Valley, made famous previously by such cult deadbeat classics as the Big Lebowsky, were so stumped by this they had no idea what the hell is going on so they just watched... Which seems to also be the general response of most of America. Today, the Earls appeared on the Ratigan show to present their side of the story. Gotta love the lawyer who cuts to the chase when he says that the banks aren't really owed the $880K noted above, "they are owed zero." Next up: everyone in America who has debt (and that would mean about 300 million people) decides to follow this advice, and "realizes" they don't actually owe any money to the bank. Problem solved.
So without further ado:
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THAT FAMILY! - THAT FAMILY! - THAT FAMILY!
Evil squatters or naive marks?
IT DOESN'T MATTER!!! The lawyer already told you he selected the family for the case. Why? - does 9 children clarify it for you? And a mother willing to do battle with the evil banks.
So where are we. Some local lawyers (and, perhaps, not even the sharpest tools in the shed) see something of possible significance in these cases or, maybe, they're coffin chasers. In any case, they are proceeding with these cases and need mass media exposure to have any possibility of succeeding. (too bad Pines couldn't find a family with 14 kids, half of whom were in whell chairs and paralysed from the neck down (or whatever - you make it up).
Anyway, they are up against a financial empire whose spokesman is a guy named Ben Bernanke. I'm think some of you might have heard of him.
Still, maybe state AG's might be with them. The question is do the AG's, or any other possible allies, have any power in the system (and by power I mean "the ability to influence outcome") or is it just a matter of waiting for the banks to roll over the Earl's and everyone like them.
You moralists need to get a grip. Reality, at least in a court of law, is anything you can make a good case for. The truth of the matter (titles, ownership, fraud, securitisations, etc, etc, etc) remains well hidden and only due diligence, regardless of the motivations and competence of those willing to attempt due diligence, will reveal, maybe and in some time, the truth of the matter.
In the meantime, it's a dog fight!
THAT FAMILY! - THAT FAMILY! - THAT FAMILY! - Oh god, stop!!!
you're giving me a headache - - -
My sentiments exactly.
About the attorney "choosing" them . . . that description makes me suspect that he's doing the case pro bono (though he'll be big with all the media time, so a very saavy investment.) In my state, it is a felony for an attorney to solicit clients--unless he's handling the case for free. While we all know there are in fact ambulance chasers, they don't reveal themselves on national teevee.
If the bank messed up the contract, any business would be almost negligent to not take advantage of that!
It's just business.
If we had just stayed with the old system where you put 20% down (or maybe 10% if you had really good credit) and the loan stayed with the local bank who originated it there probably would not have been a housing bubble. Most of the subprime loans wouldn't have been made and there would not be all these problems with messed up title. Plus people would not be forced to deal with a bunch of servicers who have no clue about what is really going on with the loan and have no authority to make minor adjustments if people temporarily fall behind in payments. Couldn't we go back to the old system? Please?
Politicans say the big banks are too big to fail. But I feel that it is much too dangerous for us to allow them to continue to exist. Millions of people are unemployed and the country is in the worst depression since the 30's because of a system that a few financial wizards of Wall Street devised so that they could collect billions of dollars in bonuses. We should call these people what they are: financial terrorists.
People are outraged because people like the Earls might (but probably won't) get a free house. But what about all the banksters who collected billions for creating this horrible mess?
just leave ME and other taxpayers/savers out of bailing out the squatters and the banks. It's their problem, leave us out god damn it.
My comment about taxable income was predicated on the assumption that the homeowners who were "foreclosed" on had started out with a legitimate home loan. If they were evicted for non-payment, and then later reclaimed the home because of an "illegal" foreclosure, it seems to me that they would still owe whatever the balance was at the time of the botched forclosure. If they now claim they owe nothing at all, and if the bank accepts that and writes off the entire amount, I believe the homeowners would have an ordinary gain (income) of $880K (or whatever the actual balance was determined to be).
I don't think an illegal foreclosure would wipe out an otherwise valid note. It seems to me that the note would still be in place. It doesn't make sense that a debt on a house could be wiped out without an offsetting gain to whoever is deemed to be the owner.
Whether or not the beneficiary of the gain actually reports the gain is another matter, but I don't think you can buy a house with loaned money, get the note cancelled, keep the house, and not accrue taxable income.
please make sure that I ( taxpayer / saver ) do not have to contribute to the psychotic bailouts of the squatter or banks. We got screwed once by TARP and Stimulus, please count us ( taxpayer / saver ) out of further bailouts, god damn it.
Further Bailouts = Civil Unrest
If you're a saver, now might be a good time to get the money out of the bank and stuff it in your mattress. If the banks start failing, there might turn out to be a bit of disruption in your day-to-day affairs if you left them holding any of your money.
It will be a bit funny if having some cash in a cookie-jar turns out to be a SAFER method of saving than a savings account. At least interest rates are so low the peace of mind from a wad of $20s doesn't cost you much.
In the economic realm, one thing that surely trickles down is trouble. I'd think it impossible to bring down even one TBTF without destroying 'em all.
2008 The Dog Ate My Homework
2010 The Dog Ate My Title Paperwork
2012 The Dog Ate My Bank
You get a gold star, Jim.
and the beat goes on.
Agree 100% that the real cancer in the system is corporate corruption in the form of the Mark to Mars unlimited backstops for the real estate bonds. Geithner's whiting out the haircut and scrawling in "100%" in the AIG payola memo tells the whole story.
Eyes on the Prize, peepulz...each new layer of fraud and criminality should bring us back to TBTF, Mark to Hades, and the piling of new debts on our babies to pay criminals' bonuses.
ENOUGH.
Many smart poster's on this site. Sometimes we need to go back to the basics so other's understand the fundamental.
Mortgage-Backed Securities I >> II & III
http://www.youtube.com/watch?v=oosYQHq2hwE&feature=channel
MaoObama is under pressure to hide the new special investment vehicle. Let's look at the past playbook tried, then exploded.
Collateralized Debt Obligation (CDO)
http://www.youtube.com/watch?v=XjoJ9UF2hqg
It all goes back to the pocket veto on HR 3808.
Please understand, the 'New Normal' will be spun on a crisis aversion playing field.
Great job Tyler & Co.
I got 5 bucks for whomever would like to light dylan ratigan on fire.
JP Morgan sends goons to perform B&E:
http://www.bloomberg.com/news/2010-10-15/foreclosure-error-may-lead-to-b...
Jamie claims God like accuracy:
As posted on Seeking Alpha yesterday:
JP Morgan Chase & Co. CEO Discusses Q3 2010 Results - Earnings Call TranscriptChris Kotowski
...can you comment...about...the MERS system. People have raised issues about MERS being both principal and agent and the separation of -
Jamie Dimon
"We stopped...using them...we're not going to comment on all the other underlying things...you've got to remember - you know there are, we've known, there are issues in the mortgage business... we're not evicting people who deserve to stay in their house"...
..."we're not evicting people"...
What about the otherwise upstanding citizens prior to this Q&A who have been depreciated, threatened, unemployed and reduced to virtual homelessness by these "known issues" so cleverly being obfuscated in this response?
As mentioned before, let the state's AG keep their "fines", soveriegn citizens deserve restitution.
imo.
On a final note for this evening, you might consider having a good laugh at the expense of your tax paid servants. Sometimes comedy reels in a reality check.
Part 1/2 Bird & fortune - Financial crisis - Silly Money, Nov 08
http://www.youtube.com/watch?v=lWDdcD-1xoo
Part 2/2 Bird & fortune - Financial crisis - Silly Money, Nov 08
http://www.youtube.com/watch?v=ScwGBNMH428
Danielle is slowly getting heard on her Christmas lights website:
http://www.danielleslightshow.com/id6.html
"We called to get the amount that we owed, it was a lot more than we thought it was..."
Oh, CHRIST... These people are squatting. And they have absolutely no idea of finances.
The entire episode is populist trash. They're not even punishing the banks: they're punishing anyone in any, even tangentially, involved financially with the originating lender or the present mortgage holder.
"They would never answer"? (Who the mortgage holder was.)
Rubbish. Because the bank itself is no longer sure...!
Throw them out. Do we have rule of law or not...?
Finally the idiots are waking up and realizing that they don't owe anything! Amazing! Stop paying debts, people, that were created out of thin air with worthless paper!
If there is one guy who is responsible for this it is Ben Bernanke. he is one who unrolled various acronyms for lending as much as desired by his bankster pals, reduced interest rates to zero (and screwed retirees and savers), bought up as much garbage (MBS) as he could to help his bankster pals (and screw tax-payer). This is in addition to being ably abetted by Treasury TARP and accounting gimmicks! What do you think we should do, so that no Central Banker will dare take steps which are detrimental to the Main street. 2 things .. Hang him from the nearest lamp post! or END THE FED
Yeah, this is the family that refi-ed another 500k out of their home and blew it:
"According to public records: The idiot family bought the property for 539k on 3/30/2001, then they decided to refi out for 750k 6 MONTHS LATER, then they AGAIN decided to refi for 880k first mortgage, and 130k second mortgage in May 2005."
Can we please pick another family to get behind on this issue? This is the worst possible example to choose.
So, the new American hero is not J6P, but rather J9P.
Lookit, Ive been partying all night because I had a lot of stuff to get done on Wednesday when Jamie surrendered. Once I got all my stuff done today, I popped a cork because I was assured of winning. The endgame began on Wednesday. The banks are kaput, along with the general economy. I'm not exactly sure what I've won, but it sure feels like Powerball. I'm just pissed I couldn't/didn't buy more silve this summer. Now I'll just have to pay more. Probably top out about $235 before this is all over.
Like I said, beginning of the end.
Jamie Dimon [on MERS]
"We stopped...using them...
Game over folks. As a cousin aptly put it, they surrendered.
Prepare for Armageddon. While most will not experience it full force, some will. So, do you feel lucky?
Best wishes to all. I'm in the bunker.
Oregon is a non-judgement foreclosure state. that is, the loan servicer, MERS, and Quality Loan Svc. can foreclose more or less at will, with no decision by a judge. The Oregon AG seems to be asleep at the wheel....
Am I the only 1 wanting to go 100% gold and silver after readiing this ?
All they wanted was their rug back.
This foreclosure aggression will not stand, man!
This is obscene to say the least and it clearly demonstrates the level of stupidity within our society.
No one should have any type of real property foreclosed on when in fact the debtor is in compliance with the terms of his mortgage note. This is a given.
It appears that we have a few liberal idiots who have decided to boast in the lime light of National TV news for no reason other than to further their own misguided agenda of trying to persuade America that we have all been unduly screwed by somebody or some bank and that they are "owed" something in return. The lady in the clip clearly states that she at some point in time had sent the bank a sum she represented at $100,000.00 .
The Rat should be ashamed of himself in the approach he took at reporting on this. More than likely time will prove the following hypothesis true:
(1) The family purchased way more home than they should have relative to their income or they have re-financed the loan several times taking out hundreds of thousands of dollars in which they have henceforth squandered.
(2) I bet the bank tried to work with this family for an extended period of time. Probably a year or more. Every lender has the right to foreclose at some point in time if the borrower is not in compliance with the terms of their loan.
(3) The attorney representing the family is a bum who has never experienced much financial success in his endeavors in the practice of law. He may have even been reprimanded in the past for unscrupulous acts.
Why have we lost sight of the fact that all borrowers clearly understand that they will be responsible for making a set monthly payment in lieu of some entity extending them a loan is mind boggling to me. I have never read in any of the loan documentation that I have reviewed that the lender will in fact work with me if I experience an unfortunate period of bad luck wherein my ability to pay back the loan is diminished. NOWHERE! Every mortgage is clearly a "PAY TO STAY" agreement. Please note that this fundamental point does not change even if the loan is sold 10 times.
The notion that the American people have "once again" been screwed by the big bad bank is hellariouse to say the least.
Wake up and smell the coffee America. The dumb ass liberal sector of our society is in fact pushing us ever so closer to a STATE controlled Country. The US Constitution does not guarantee that the government will step in and let you off the hook when you make a bad decision that results in you experiencing a hardship during your life. It also does not guarantee that all"things" material and otherwise will be the same for everyone.
First off, terrible post and terrible slant Tyler! To imply that: "everyone in America who has debt (and that would mean about 300 million people) decides to follow this advice, and "realizes" they don't actually owe any money to the bank. Problem solved." is ludicrous at best. You're starting to sound like Barney Franks....hey, you're not, you better not be Tyler you sneaky man you.
Start talking like a capatilist and not some liberal scum that panders to the dip thongs that voted Obama and the circus into the positions they're in...
For the 10th time, pay fo' yo' shit.
Actually ZH is smelling a lot like a rat in the last couple of weeks. ZH has always had a negative bias, but this is a JOKE.
Being overrun with socialists and anarchists, actually.
~Misstrial
If it comes down to it, I'd rather pay for these fecund nutjobs to stay in their house than Lloyd Blankfeins next addition to his art collection or his Swiss bank account.
And he will have a Swiss bank account, these guys must all have a subpeona get out plan ready.
Another Great American Story
A family begins to wonder how they will ever send all nine of their kids to college on a mechanics salary. Guessing they will have to borrow most of the money they decide to gain experience with massive debt in advance. They turn to the only market where such a huge loan might be available to them applying for almost a million dollars (ten times their annual income) to buy a three bedroom ranch home.
A senior lender, who discovered in his training the magic that negative 1 times negative 1 is positive 1, tries to apply the same logic to the situation. He reasons that the best way to deal with incredibly stupid loan applicants is to be just as stupid himself and actually loan them the money. Surprised that a bank would actually lend them the money so easily, the borrowers further rationalize that the house must just be a gift for signing the loan. Eventually it becomes apparent to both parties that stupid times stupid does not equal success (they could have come to the same conclusion by trying to post on ZH using that equation), rather an $880,000 loss for the American taxpayer.
The media immediately jumps in with their patented rescue technique, offering the distressed borrowers huge royalties and a slot on Dancing With The Stars in exchange for news, book, and movie rights to their story. The first news cast runs in between three self granted public hero awards for the news team and subtle accusations of anti-socialism for anyone who questions whether their solution for their chosen ones can also be a solution for the 3.6 million other similarly distressed borrowers in America.
Viewers struggle at first to choose between watching the news reel or a competing episode of Oprah where a newly discovered excuse (er cause) of obesity is being discussed. Eventually the viewers discover they can make it through the newscast with the help of the three B’s (booze, bongs, and bonbons).
As viewer ratings rise, media moguls contemplate running for Jesus in the next elections, but, opt instead to reclassify the film “Idiocracy” as a documentary and launch a new “Foreclosure” series in high def 3D on the next available satellite channel number 90,346. The lending industry buys in with a huge advertising budget for the new series while shifting their product mix from 30 year conventional mortgages to payday loans and 300% APR Credit Cards.
In the quiet of his room, one of the teenage sons in the now famous foreclosure family discovers a way to harness fusion energy. After weighing its apparent value against the social backdrop of our times, he abandons the idea and decides to play games on his iPod instead.
The "future resistance leaders" have been court-ordered out of the house they broke into.
They were ordered out on an Unlawful Detainer earlier this year.
This time on 10/15/2010, the judge sanctioned them for contempt of court:
Ventura County Superior Court
Case No.: 56-2010-00367632-CL-UD-SIM
"Exparte Motion to Immdiately Enforce Writ of Possession, Permanent Injunction, and Contempt Sanctions." Granted.
~Misstrial
deleted - duplicate
I'm sorry folks, no note = no obligation.
In court, he who produces the correct paperwork almost always wins (in matters involving money.) If the banks can't legally produce a note to accompany their mortgage, who's fault is that? The Earls?
Are they squatters? Maybe, maybe not. The point is without a note the bank does not own this property, the Earls don't own this property, no one owns the property. The advantage (in court) for the Earls is that they actually live there day to day. By not following 200 years of firmly established property and title law, the banks put all these mortgages in limbo. They then flipped around and started illegally using the courts as clubs to foreclose on everyone under the sun (even those without a mortgage). When one side is so incredibly reckless and illegal, how can we possibly blame the other for not playing the game too?
What a fucking mess.
For Pete's sake, could it be any clearer? BofA is the steaming rancid trash barge, being stuffed full before nationalization.
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