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Couple Lives In $1.3 Million, 4,900 Square Foot Home For Five Years Without Making A Single Mortgage Payment
Wonder how Americans can afford to buy millions of iGadgets, a second LCD TV for the shoe closet, and eat at restaurants more than almost any time in the past despite sliding personal income? Simple - increasingly fewer pay the biggest staple bill in a US household: their mortgage. The following story of Keith And Janet Ritter, who have lived in their Fort Washington, MD $1.29MM, 4,900 square foot McMansion for 5 years (which they purchase with no money down) without ever making a single mortgage payment, and who are not even close to being evicted, may explain much about the way US society currently operates, and why other perfectly responsible and hard-working taxpayers (who do have to pay for their mortgage) continue to fund tens of billions in Fannie and Freddie losses who are first on the hook to absorb the implicit losses by allowing families such as the Ritters to live in perpetuity without paying, and the banks to keep said mortgage on the books at par without any impairments.
The Washington Post has more on this absolute horror story of a case study of just how busted the USSA has become:
The eviction from their million-dollar home could come at any moment. Keith and Janet Ritter have been bracing for it — and battling against it — almost from the moment they moved into the five-bedroom, 4,900-square-foot manse along the Potomac River in Fort Washington.
In five years, they have never made a mortgage payment, a fact that amazes even the most seasoned veterans of the foreclosure crisis.
The Ritters have kept the sheriff at bay by repeatedly filing for bankruptcy and by exploiting changes in Maryland’s laws designed to help delinquent homeowners avoid foreclosure.
Those efforts to protect homeowners have transformed Maryland’s foreclosure process from one of the country’s shortest to one of the longest. It now takes on average 634 days to complete a foreclosure in Maryland, compared with 132 days in Virginia.
“The market won’t fix itself,” said Anne Norton, Maryland’s deputy commissioner for financial regulations. “By the time it does, how many homeowners will be churned up and spit out by the machine?”
Critics, including economists and lenders, blame the state’s go-slow approach for a growing backlog of foreclosures and a weak-to-nonexistent recovery in home prices. To them, the system puts too much emphasis on helping individual homeowners and not enough on quickly clearing the market of foreclosures so prices can rebound and hard-hit communities can recover. And they say it also creates opportunities for abuse by those determined to drag the process out for as long as possible.
“How is it people can stay in a house for five years without ever making a mortgage payment?” said Thomas A. Lawler, a former senior vice president at Fannie Mae who now runs his own consulting firm in Loudoun County. “That’s a screwed-up process. It’s an example of how the process is broken.”
The Ritters, who bought their house for $1.29 million with almost no money down, are hardly representative of the vast majority of Maryland’s distressed homeowners.
During the boom, they set out to become mini real estate moguls, buying properties and flipping them for a profit. In the process, Keith Ritter, 54, went from being on probation for bankruptcy fraud and making minimum wage to being a successful real estate investor and landlord with a six-figure income. Then, when the housing market tanked five years ago, the couple found themselves facing multiple foreclosures.
The Ritters have tried to negotiate different payment arrangements with their lender to save their posh home near National Harbor, they said, but to no avail.
“It was never our intention to get here and never make a mortgage payment,” Keith Ritter said. “We don’t believe in living for free.”
But he and Janet, a 51-year-old real estate agent, make no apology for using every tactic available to them to stay in their house, including challenging the foreclosure sale in court, requesting mediation and claiming they had a tenant living with them. Their adversaries, they argued, are giant financial institutions with armies of lawyers that are out to make as much money as possible at the expense of homeowners.
“When a bank does all it can to save itself, that’s good business,” Keith said. “When a homeowner does the same thing, he’s called a deadbeat.”
And that, ladies and gents, is why this country is fucked.
Meet the Ritters:
"Keith and Janet Ritter inside their home in Fort Washington, Md. In five years, they have never made a mortgage payment, a fact that amazes even the most seasoned veterans of the foreclosure crisis."
"Janet Ritter in the dining area of their Fort Washington home. The
Ritters make no apology for using every tactic available to them to stay
in their house, including challenging the foreclosure sale in court and
requesting mediation."
"Keith Ritter has a business, Beat It Movers, that involves eviction services, property preservation and cleaning of foreclosed homes. Here, he checks out some ceiling damage in one such home in Fort Washington. Ritter gets the irony of working for some of the same banks that have foreclosed on him. But he has to make money somehow. “All I know is real estate,” he said."
Casa de Ritter:
"The Ritter's Fort Washington home. They have kept their home for so long by repeatedly filing for bankruptcy and by exploiting changes in Maryland’s laws designed to help delinquent homeowners avoid foreclosure."
"Interior of Keith and Janet Ritter's Fort Washington home. Efforts to protect homeowners have transformed Maryland’s foreclosure process from one of the country’s shortest to one of the longest. It now takes on average 634 days to complete a foreclosure in Maryland, compared with 132 days in Virginia"
And when all else fails, beg god for debt forgiveness: "Bible verses are marked that pertain to debt and forgiveness on a table in the Ritters’ home in Fort Washington."
Then again, who needs god when you have hope and change... for some.
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I can't imagine a house like that selling for less than the high 800's anywhere within 100 miles of Washington D.C. Simply too many 6 figure federal jobs.
Where I live in the Pheonix area you could buy 7-8 new houses for that price.
Comps on that street are going for $764K. http://www.realtor.com/realestateandhomes-detail/12101-Riverview-Rd_Fort... So it's not quite a $700k haircut but it's close. Worse than a 50% haircut, there may be no title anymore, so the property isn't marketable or forclosure-able.
God Bless America, the land of the free. LOLOL
Why all the bitchez be bitchin' about this? Blah, blah.. these people are passing their cost of living on us, blah, blah, these people are criminals, blah, blah.. this is obama's fault, blah blah..
WAKE THE HELL UP... the systems we've lived under the last 40-50 years is OVER people... it's DONE... stick a over-leveraged mutha f'n FORK in it. These people are doing the SAME thing the banking cartel and fascists are doing which is SELF PRESERVATION at this time of total economic, political, and sociological evolution. Stop bitching that they might be getting away with something.. they're NOT. nobody is getting away from this shit easy... stop worrying about who the hell is adding to the fire as the fucking roof is LITERALLY on fire. Everybody needs to take care of #1 now before #2 hits their personal fan.
Check and Mate for christ's sake... literally, for Christ's sake. The money changers blew up the game.. stop playing already and pick your fat ass off the floor and realize the rules of the NEW game.
Sheesh
Lets make april 1st the "free housing day".
From April 1st 2012, all houses are free, nobody pays mortage ever again. In the end, the investors/banks/fre/fnm don't care, they've been bailed out by us, therefore all the houses belong to us.
"All your houses are belong to us." Fixed it.
Probably April Fools day isn't best day to pick.
I figured out a while ago that I'm a chump, and have been for most of my life because I bought into all the BS I was indoctrinated with about playing "by the rules". They tell you that crap because it's a lot easier to fleece people when you can get them to play by a set of artificial rules that you don't actually have to follow yourself. Pretty simple, really, and it's been going on in various forms for centuries. Why shouldn't these people use every tool at their disposal to take care of themselves? Who the hell are you, Widowmaker, to judge them? You're like Ferris Bueller's sister, all pissy because her brother figured out how to game the system and she couldn't. These people have figured out the game is rigged and they're not following the stupid rules anymore and you're a jealous bitch spouting out stupid racist BS. They have no obligation to you or anyone else; the sooner you figure that out for yourself, the better off you'll be.
The Andy
Andy,
I agree with part of your diatribe,but.
Playing by the rules, meant you were honest, moral and upright.
A person who abhorred stealing theft, lawlessness.
Don't give anyone the MORAL right to be immoral, and thieves,just because the system is screwed up.
Keep your honor, and your character, its ALL you have that once lost, never can be regained.
Keep the faith, your perseverance and moral compass will eventually pay off.
Just because we are surrounded on all sides by crooks and liars and thieves,doesn't give us the right to BECOME like them.
If you give in, you LOSE.
Do the best you can as long as you can +1, no one can expect more.
Shhhh. Keep it down. The niggers, wetbacks, faggots, towel heads, & big-nosed cheapskate Jews were not supposed to figure out how to game the system. The good ol' boy network is only for the pure whites.
This is not unlike my own situation. I like many others never set out to not make a mortgage payment. We like many where hit hard and fast by the economic downturn. I went unemployed in August of 2009. Then one day we saw Mr. Obama on the TV guiding the people in trouble toward a modification program that was to modify mortgage payments to within 31% of gross income. The very next day I phone Bank of America (BOA). BOA quickly informed me that I had a good credit standing with the bank and that until I was in default, they had no programs for which to modify my mortgage. I made them aware that I was unemployed for the first time in my life (at 45yo) and that eventually, as things look, I will be in default. I called BOA everyday for another couple weeks in search of someone there that would consider my mortgage for modification (like Obama said). Eventually, and a very long story, short. I decided to default and attempt a modification. This is where the fun began. Over the next 11 months BOA requested and I sent, documentation that they continually lost. Eventually I learned they had never contacted Fannie Mae about my modification request. I went round and round with BOA. Requested payoffs multiple times to have BOA return with different numbers everytime. Could never talk to the same person. Each phone call was like the first time I called BOA. It was like being in the twilight zone. Through all this I am learning about Promissory Notes, Mortgage Assignments and begin to understand that BOA is working with a broken chain of assignements on the mortgage and has never responded to requests for the Promissory Note (I am skippy alot in between).
Again, to make a long story short. BOA filed for foreclosure and withdrew for not preparing paperwork properly. Then went quite for two years to reappear again here in January with a new lawsuit in foreclosure.
It has been nearly 2.5 years of not making payments. This is BOA fault and they have put themselves, myself and the tax payer in this situation over and over again.
If things go as hoped. I will be here another 2 years rebuilding before they get a judgement. If they can get judgment at all.
so there you have it. noone sees the light until they feel the heat.
It is important to remember the reason for the decline in employment, value of homes and underemployed is the direct results of bank speculation in lending and investing here and abroad. NOBODY just got out of bed one morning and decided not to pay their mortgage. The banking system caused this mess, they should pay to clean it up. If they have not handled paperwork proper along the way that has caused problems in modifing and foreclosing on property, then it should be the banks that foot that bills.
It is still unbelievalbe to me that I have been sitting her for almost 3 years without making a mortgage payment. It is not where I thought I would be at near 50 years old. It is not easy hanging in limbo and nobody in this household is having any fun.
All that being said, I am not giving in without a battle. I have been screwed around by BOA for years now. They have never declined a modification, never completed on, never reached out to communicate with me on some amicable resolution. They simple couseled me to default as a term for eligablity. Then fucked around with my life for 3 years and now want to steal my house that they apparently don't have any right to. So why should the servicers like BOA and other get this windfall of a home they have no right to any more than I. A
Two years ago I never would have believed you, remibeni. I am a BK attorney but never had any experience with HAMP or mortgage mods. In the last two years I have consulted with dozens of homeowners such as you who were current with loans that we seriously underwater and getting more so. Thanks to ZH, calculatedrisk and other blogs that reported the real state of the home market (vs. the prostitutes in the MSM who take unedited and uncorroborated copy from the NAR and pass it on as "news), I advised these clients to walkaway. But many of them did not, chosing to default and try to get a mortgage mod.
In EVERY such case these people have experienced the EXACT same story: missing loan docs, lost modification applicaitons, computer "glitches" and repeated HAMP filings. When one is rejected, they are simply told to reapply. Only now is the MSM reporting these stories.
I have concluded that the entire process was designed by the TBTF banks to slow their REO accumulations to the pace of actual sales. The FDIC and OCC may insist that lenders foreclose, but the Fed and Treasury have given the banks permission to "help struggling homeowners" by delaying the foreclosure process ON PURPOSE. The people in this story simply took advantage of programs that we created TO HELP BANKS DELAY AND HIDE THEIR LOSSES.
Still, the only victims here are taxpayers and the prudent. Everybody else in this disaster is a freakin' free rider, including every banker and borrower.
freakin' free rider without a choice. It is sad to reflect on my situation. I am employed now but making a 1/3rd of my traditional wage. Your analysis seems to be on target. With so much of whats going on being a secret behind government/banking closed doors. The consumer/borrower is left to survive by reading between the lines and hoping they get the story right. As the rules change with every sunrise, what choices do borrowers have? And what where traditionally good moral choices when it coms to bill paying, are now (in reality) bad business decisions for consumers and middle class familes. A situation like mine should not be catering to the servicer, or I would be left with nothing. One important aspect of what I left out of my story is that all along the way, the Serviced is requesting money for nothing. Using threats and offering no written documentation or accounting of what their intentions are with the money they are requesting. As we know now, that money typically goes to their coffers and is never applied to Principal or Interest on the subject loan.
My situation and situations where borrowers are underwater on their mortgages have just a few SMART choices. Play the modification game and HOPE it works out. Walk away using bankrupcty as one of your tools. But for borrowers to keep paying on a mortgage for a property that won't see equity for maybe... 20+ years is kind of silly, foolish and misguided. Or to allow a Servicer to string out a modification while draining the borrower of every last penny is not an option either.
It has truly turned out to be US against THEM with very few courts helping the US'es.
Not the America I thought we lived in just a few short years ago.
Mass Bankruptcies is maybe the best answer we have to clearing debt. Credit will come back quicker than most realize.
This scam is hundreds of years old. Through the manipulation of fiat currency and credit, the bankers end up increasing their wealth and ownership of real property. Who amongst you thinks that the big (TBTF) banks are not wealthier and stronger today than ever before? At the "end" of this cycle the banks and the elites that control them will be richer and more powerful than ever. All according to plan.
Who does their yard?
Angelo Mozilo's group has been billing it out at 1000.00 per mow. Combined with the 1.5 million in larded-on servicer fees accrued over the years, the Ritters now owe 2.8 million dollars.
"The market won't fix itself"
How I love absurd comments like that. The Government and the Banks caused this mess, now the market is blamed for not fixing it.
Market? What market?
Haven't seen an actual free market in a long time now.
Only cowards pay debts.
what they have not paid in mortgage, they have paid to laywers protecting them.
You always pay your lawyer first.
You would think with all the money Reggie has made on his aapl puts he would be able to tote his mortgage.
OK,… wait,…your suppossed to make payment every month towards your mortgage??
Am I allowed to be infuriated by this, or would that make me a racist, since you included pictures of the couple in your article? I live in much less house than I was told I could afford when I bought our log cabin in 2005 (no, I am NOT a Log Cabin Republican ;) . My wife wanted, still wants, a bigger house, but I convinced her it was not financially responsible. Now who is the greater fool? I can thank this article for raising my morale about what it might come to when SHTF.
You are allowed to do whatever you want. Nobody truely knows why you are infuriated, and you can say you are for whatever reason. If your not infuriated by their race, as you were quick to point out, I wonder how much furor you have towards... well, I guess almost ever major corporation and government who endlessly drag things through litigation to perpeutally prevent any loss from wrong doing. How long did you think the very pillars of our societies could play these types of games before everyone who travels between them figured out how to use the same power for themselves. Being infuriated at these people for exploiting a loophole of a corrupt system to their benefit, when that privilage is usually reserved for the very top of the pyramid, seems a little rediculous to me. If anything, it sounds like the playing feild is becoming more fair (perhaps you just haven't figured out the new rules). But, like I said, you are free to do whatever you want.
Ignore the racist trolls, friend. They are here to suck your energy dry.
Little wonder Hog sales are still high.....Gues what honey, with all that cash we saved through non-payment of our mortgage, I just bought a new $25K hog....
I'd guess that at least 80% of all men working for the federal government/military in D.C. own a motorcycle.
And nobody had a problem lending the Negro in the Pistons cap $1.3 mil, or more if it was a 125% LTV?
So they use overly complicated property and tax laws. To fuck over bankers, politicians and lawyers; at their own game. Fuckin A Ritter's!
The way to fix this pair of deadbeats is to bring in half a dozen people to occupy the house and claim that they are the renters. They could then apply all the same protective laws to stay in the house as the couple.
John Ritter couldn't make this up
clown attack
http://www.youtube.com/watch?v=KTuPiHwUFGo
J you were SupaCool RIP
Great interview with Jim Sinclair from after his TNX AGM, covers all topics.
http://goldandsilverlinings.com/?p=1919
How do you Print this lying propaganda Tyler?
How does anyone believe it?
I hope the conspiring junkies see the face value of all the talking points mentioned as the lies that they are.
What a total BS article.
I think he got the free, taxpayer subsidized golf cart also:
Free Golf Cart Low Speed Vehicle after Tax credit (Pay $400-$600 Freight) There are numerous manufactures of Golf Carts eligible for tax credit this year, however this particular deal is very good as all you net paying is freight as long as you owe taxes this year.
This is a tax credit, a dollar for dollar reduction from the taxes you owe to IRS, not an income deduction!
www.freeelectriccar.com [freeelectriccar.com]
List of Approved Vehicles on IRS.GOV [irs.gov]
The Basic Golf Cart is $6496 and qualifies for $6496 tax credit so you net paying just the freight on the Golf Cart!
Good to see where the bailout money went...to such good uses...People are walking away from everything as the system falls apart....the doctor down the street told me ten years ago uncollectibles were less then 5%...now, he said over 60% are uncollectible...just walk away......
N word
Hey...!..Americans.....!! Get off your fucking knees.
GrampS AND GREAT great Grampa probably fought anf died for your..(cough..cough) "FREEDOM and Democacy" .
Don't let grampa down...!!!!Get off your fucking knees.
Through no fault of my own I bought tech stocks back in 2000, only to lose half of my investment. Where is my check? People like the Ritters are scum . They make it that much more difficult for the true victims of abuse to get help. Always said that the idiots were the banks lending money to these people - not the borrowers.
The check's in the mail.
For whatever reason, Americans have let the convicts in to run the ship of state. And the Good Ship American Dream now is at breaking point. Tidbits from the road this past week:
From a student loan collector: The average student loan in her area is $200,000; the highest encountered $372,000 (the latter mainly to doctors, lawyers and vets who, incidentally, are the biggest defaulters). Some borrowers have as many as eight defaults with the average collector processing 30 defaults a day. After renegotiating terms, say taking the interest rate down “from 18% to 9%,” and default continues, garnishment of wages begins.
From a cook/dishwasher in an assisted living care facility: Chef for more than 100 residents, the pay is $9.00 per hour; residents pay $4000 a month in this facility located in an average income state. During the past two years, there have been four directors; the last given a two-day notice because two patients had died and there were ten empty rooms in the complex which includes an additonal complext for Alzheimer patients… The pay for patient care assistants – changing bedding, bathing and washing, hairdressing and dressing patients and emptying bed pans , et cetera, $9.00 an hour.
From a custom cabinet maker: The bankruptcy court ruled all proceeds from the sale of properties of a small town developer who lost all equity in four custom homes and in the developed tract on inherited land after the housing bust, went to the banks. The cabinet maker, whose normal income increases in “$200 and $300 increments,” lost $43,000, a total of $87,000 for the year – a similar fate for the other craftsmen in this small town.
The small town developer discussed above: After two or three years of the hold- ups on permits and government specifications, this realtor/developer was unable to begin construction until just prior to the 2007 housing market crash, resulting in bankruptcy and the loss of acres of inherited prime resort land along with the four newly-constructed custom-built homes. This long-term, successful realty owner died bankrupt.
Home remodeler: Removal and installation of a new window that was moved three feet to the right by a licensed contractor required visitation by a state inspector over a three-week period of waiting. After approval of the drawings, the first inspection was for basic installation; the second inspection was for approval of the insulation; the third inspection for approval of the installed wall board. In the meantime, everything else was on hold…
Pre-approved rental-home purchaser: On the final day of signing loan papers, after appraisal/inspection fees were paid and with accepted proof of a $130,000 down payment on a $300,000 foreclosed property, the bank cancelled the loan for this $200,000-a-year professional (whose credit rating is 800+) by reversing itself on the acceptance of a $25,000 deposit that appeared on his January bank statement. It was the repayment of a loan he had made to his brother, issued a year earlier with a notarized promissory note for repayment in 12 months. All checks and documents as proof of the transaction were found to be in order. Though this buyer was immediately approved by another lending agency, he lost the house he wanted.
This is just a small taste:
Home remodeler: Removal and nstallation of a new window that was moved three feet to the right by a licensed contractor required visitation by a state inspector over a three-week period of waiting. After approval of the drawings, the first inspection was for basis installation; the second inspection was for approval of the insulation; the third inspection for approval of the installed wall board. In the meantime, everything else was on hold…
Here is the sequence for building a house, and I live IN THE MIDDLE OF THE FUCKING SWAMP in a county with MORE COWS THAT PEOPLE!
Site inspection
Site inspection by the septic people (different gove branch)
(Can now build pad and septic)
Inspect pad
inspect pad and septic
(now house construction begins)
Inspect frame
(Can now do services)
Inspect plumbing
Inspect electric
inspect everything again after power is on, then get final permitt
Any change in plans requires a restart of the inspection process
NUTS!
It’s hard to add to this, Maos Dog. When it’s time to pay for permits, property taxes, materials, labor, et cetera, we are all grown-up and can be trusted to write the check. But when the inspections begin suddenly we are all potential criminals who want to destroy our own nests and must closely be supervised by the State.
And the frightening part is that the inspector arrives with the full authority and police power of the State. His word and his orders are the law; any disagreements, he wins.
True story I swear!!
The inspector is checking out the place, "Wow that's a nice rooster"
Me "hrump, yea he's nice"
Wife "He likes the rooster"
Me "Yea it's a nice rooster"
Instector "I would really like a rooster like that"
Wife "psst - Give him the rooster"
Me "HE IS NOT GETTING MY FUCKING ROOSTER!!"
He probably just wanted to have his way with the thing!
Yeah, probably just before finishing having his way he breaks the roosters neck so that he can get that, "dying flutter".
Priceless!! Maos. Unfortunately, if anything goes wrong your wife is bound to say: WHY DIDN’T YOU GIVE HIM THE ROOSTER????!!!
320 square foot single family residence new construction. Plans purchased from licensed architect for $450. Plans meet all national codes and are modified for local snow loading conditions. County "plan review" by non-licensed any body $475 Permit to get an electrical permit $65. Electrical permit $400. Permit to get a sewer permit $65 sewer permit on hold until soil percolation test is complete. Sewer permit $400. No septic system will be installed because the county in question will not allow a septic system if the residence is on under 5 acres. Perc. test Approx $700 is still required despite having ZERO bearing on the project. Excavation fee. Insullation fee. Framing inspection etc etc etc etc. Total fees, inspection costs and permit fees $3800. Total cost of project ex building department: Approximately $17,800.
You wonder why people go on shooting sprees.
Exactly.
And this has to do with the fact that they, State officials, now have total authority; they can do anything they want because the people have lost representative government. I had a craftsman say to me last week: "Why vote, anyway? Unless you have the money to pay a lobbyist you won’t have any influence with an elected official."
easier for the govt to require inspectors to file paperwork as to the nature, size, cost, value or whatever else of what you are building / investing in. Track those dollars boyz and tax the shit out of them.
<pulled by author>
While I sometimes try to disagree with Trav7777, I find he is usually right.
I predict there will be more and more "cases" like this until it's the new norm. The currency is dying.
Isn't Keith a gold bug? Let's get a shot of those upper front teeth!
http://www.youtube.com/watch?v=P36x8rTb3jI
I'm proud of individuals like this who take the system for all it's worth. If white people hadn't been too lazy to do their own work back in the 1700s, there would be no blacks in the United States in the first place. So the redneck contigent blaming this on "negroes" is hilarious.
Your ancestors were too lazy to do their own work. They preferred to sit around drinking mint julips and getting their dicks sucked at debutante balls while the Blacks served drinks. They stole the land from the Native Americans, then murdered the Native Americans, then forced the Blacks (with violence) to work the land they stole from the Native Americans... and murdered them too if they complained. And you call these two particular people "lazy negroes" for staying in their home legally when the banks have committed so much fraud, trying to eat people like them alive once and for all.
You're just pissed you didn't think of it first, you stupid ass crackers. You are occupying Native ground and I expect all European people to leave the continent immediately. Go join the Euro clusterfuck and leave the real Americans to rebuild the wild nature you stole from the indigenous people and poisoned with your hideous technological industries.
Post-Left Anarchy forever, bitches.
Aparently, there are sites across North America that pre-date american indians, and, some of the stone tools found at those sites originate from Eurpoe.
It seems that Eurpoeans settled the area first, and were then genocided by the evil american-indains. Eurpoeans came back 10,000 years later to reclaim their lost lands. I believe that reprations may be in order.
I guess this kind of messes up your narritave a bit.
Solutreans.
The other white meat.
The supremacists always have a new historical "revision" to justify their lack of white guilt. Doesn't affect my truthful narrative at all.
Oh stop, lol.
When people have to say they are truthful, it means they're lying. Just like "Honest" Joe the car dealer is anything but.
lol, you're dumb.
occupy ft washington slacker's home bitchez!
So who's been paying the property taxes?
What? Those are voluntary there now as well?
ejmoosa
So who's been paying the property taxes?
My money is on the LIEN holder, if their smart.
I would like to quote W.C. Fields "It is impossible to cheat an honest man"
LOOK!! OVER THERE! YEAH, a couple of homeowners on a McMansion who haven't paid their mortgage in ages!!! (and they're BLACK!!!111). OOOoooohhhh the humanity! Baaaaad baaad!!
MEANWHILE...
"The following story of [INSERT BANKER/SPECULATOR/PLUTOCRAT's NAME (#1)], who have lived in their [POSITION OF PRIVILEGE] for [ALL THEIR LIVES] (which they purchase with no money down) without ever making a single [SOCIAL CONTRIBUTION], and who are not even close to being [PUT TO JUSTICE], may explain much about the way US society currently operates, and why other perfectly responsible and hard-working [PEOPLE] continue to fund tens of billions in [FINANCIAL PAPER SHENNANIGANS] losses who are first on the hook to absorb the implicit losses by allowing [BANKER/SPECULATOR/PLUTOCRAT] families such as the [NAME IN #1] to live in perpetuity without [CONTRIBUTING TO SOCIETY], and the banks to keep said mortgage on the books at par without any impairments.
But the distraction story's better, right ZH?
Hey Tyler.
No more pushing peoples buttons today. It took me forever to get thru all the comments and now I am late to work.
TU for making me laugh
Can a nigga get a tabledance?
Nice house.
I feel like a right muppet for paying my mortgage now.
Banks get free money from the wide open Fed Window so why should they enforce any foreclosures. They are not paying for the losses....you are.
So, to sum up, recovery is juuuuust around the corner. Right, Cramer? Cramer? Craaaaameeeer!
Remember kids - if you're not cheating, you're not really trying
Washington DC is the Welfare Mecca of America. Go there. Go to a Nordstrom. Nothing but blacks walking around with bags full of clothes and shoes. Where do they get it you ask? The government of course
Money for nothing, get your digs for free.
But the problem is, those that would foreclose on them, don't actually own the property.
It's a fucked up situation to be sure, BUT, it's an event that is actually in the PAST. Before even the first mortgage payment was ever supposed to be given, it was past tense. It isn't fair to people who do pay, but then again, it would be worse to give the bank (which one? which 40?) the house. At least the Ritter's live in it. Is the ghost of the living person of the bank corporation going to reside there? At least right now it is being used.
This situation was created on the lender end. By those that did the lending, and by those that paid off the politicians to enact the laws that got us here. (and of course the people that vote for such lawmakers). Remember, gov't didn't do it. It was the people in gov't that were bribed from on high (TPTB) into making the securitizing cash cow (and pariah). Because when gov't doesn't work for the people...it works for the special interests, the biggest and most influential ones...TPTB...and their bankster cronies.
Kicking the Ritter's out won't change a damn thing because the destruction happened before the Ritter's moved in. The whole process that allowed the house to even be built, arrised out of the fraud. Fraud begat more fraud until there are many tens of millions of homes and other real estate where there is no legitimate owner...except for those who initially reside there. Are we supposed to make things worse so others feel better? I don't think so. Manipulation of behavior doesn't help at all. It can only kick the can down the road, if the sheep allow it.
HPBA of 2007 should have been passed, but it wasn't. Now it's so far gone, there is nothing you can do except let the people living in homes, live there, and realize that they benefitting from the monetary madness is the best way to go forward. The homes aren't legally owned by anyone, thus the ones residing in it, or originally residing in it, get preference in one fucked up situation.
This is why you don't repeal Glass-Steagall. If people didn't want the thought of people living for free where you are paying (a psychological game really), then people shouldn't support the base ideologies that took us here. It was obvious where we were heading with the repeal of it, just people thought they were smarter and their ideologies truer. The removal of simple, effective regulation that kept monetarism from acting a fool (to this degree and then some) ensured the same results would ensue. The people that got it repealed KNEW it would fuck up the economy, they just thought they'd profit off it at the expense of others. Then they dumbed down the plan to remove that part of it from the assessment of the repeal, and bought off the politicians. The reason it happened THEN, is because by 1999....those that knew what the protections actually meant, were gone. Those that listened to them and remembered not from experience, but could think things through, were in the minority.
This is why you don't let the banksters control gov't. The banksters will control gov't if they can. They will also control what gov't used to maintain if gov't doesn't exist. Either way, TPTB will try to control whatever they want, using whatever mechanism they can. Their biggeset control mechanism, is the faulty ideologies that govern economic thought and systems. Under a credit system, we had the chance to be politically free. Under a monetary system, we have no chance.
I could care less about the Ritter's living rent free. What I care about is the idiocy that was legitimized by faulty ideologies and the gov't policies put in place that created their small gain. Then I also realize that this is only but one section that the previous sentence indicated we are experiencing consequences from. The faulty ideologies left us more than a fucked up housing market where some pay, others don't, and the fraud is legalized by bought and scared gov't officials to continue the process. That's the point that matters. Not the Ritter's living for free, or the blip in the numbers (more meaningful now, but short term, limited, and already baked into) that results. This backdoor spending bonus is nowhere near enough to keep the fraud going indefinitely....it just allows the faulty data to seem less bad for a little bit longer of a time. Even if it feels like forever since 2008, not much time has passed in the grand scheme of things.
For all the bullshit fuckedupness of our fraudulent situation, this appears to be the only benefit some average folk are enjoying. It sure is a sign of how fucked up things are. People shouldn't have ill will to the Ritter's or anyone else like them. Banksters benefitted in every other way. Also the fix for our overall situation, can be done without kicking the Ritter's or anyone else out of (their/no one's) homes. The banksters fucked up, and you can tell too, because the banksters recently bought off gov't again to cede them these homes illegally. Their original intent was to steal it all. So the real question is....do you want real live human beings owning the homes, or the banksters who created this mess, profitted from the mess, and will let a home which has some usefulness sit idle? Because that really is your only option to make on past poor decisions.
Gov't only did the will of the private sector. What Fannie and Freddie were doing was WHOLLY directed by the banksters. Thus in reality, the onus of the fuckjob, is on the private sector. Gov't is only as good as the people that control them. Is it 'the people' with real ideas and positions to better society? Or is it the bankster corporate whores? We know the answer. The same people that would more easily run things if there was no gov't...just happen to be the ones who are currently in charge of gov't. It's not about having one or not having one....or bigger or smaller...it's about right versus wrong. Real versus imagined. Physical economy vs Paper economy. Science vs Fake ideology.
Remember with gov't or without gov't....bankster controlled money buys lots of friends, favorable rules, and actions.
Glass-Steagall
American Credit System
But the problem is, those that would foreclose on them, don't actually own the property.
well thank you. Technically MERS is undecided in Maryland but if you study the foreclosure documents they usually scream FRAUD.
Both the Ritters and their bankers should be jailed for this crime. Failure to pay the first payment is evidence enough of fraud. Without setting examples of both, we will get more of the same.
http://www.redfin.com/MD/Fort-Washington/11120-Riverview-Rd-20744/home/1...
http://sdatcert3.resiusa.org/rp_rewrite/details.aspx?County=17&SearchTyp...
http://sdatcert3.resiusa.org/rp_rewrite/details.aspx?County=17&SearchTyp...
http://sdatcert3.resiusa.org/rp_rewrite/details.aspx?County=17&SearchTyp...
"It's a fucked up situation to be sure, BUT, it's an event that is actually in the PAST."
No, it's not an event.
It's embedded now in the psyche -- the disease of Entitlement -- oozing out of the pores of America.
No, it's not in the past.
It's actually clear and present danger #1 -- as Those-Who-Control are infected with a particularly nasty (and quite incurable) strain.
1. Maybe Obamas paying their mortgage?
2. If they quitclaim the property to someone else does the clock start ticking again?
3. Do they have implied income equal to the value of the free digs?
IN a perfect world where we have laws that follow simple common sense and are properly enforced I would have a big problem with free loaders or deadbeats.
But in the world we are living in , these people are the least of the things I would be focues on. This is just noise added to the situation to divide people and divert attention from the real issues that were responsible for the housing bubbla and subsequent meltdown.
Question is who put them there. Who gave these guys a NO MONEY DOWN mortgage on a 1.3 mill home. To put people in homes they cannot afford defies simple common sense. I would start by punishing those people who gave them the loan and fix laws that allows people to own homes they cannot afford with these criminal mortgages that make a ton of money from mortgage brokers all the way to the banks in the short term and leave the taxpayers holding the bad in the long term.
In 2007, 0 to $250,000 was FHA loan, $250-$500 was jumbo loan and $1M-2M was hobo loan.
The banks recieved pretty much "infinity" dollars to solve their problems.
It would of cost 1/10th as much if the banks went bust, FDIC kicked in, Homeowners were let off the hook.
Homeowners would of won the "bet" that the banks made and instead of trying to dig themsevles out of a hole and save their life times worth of work , they would of been spending on home improvement, starting businesses and the economy would be growing.
The banks commited the fraud, they packaged these mortgages and promisses 10 different people the same collaterol, if thats not fraud, I don't know what is.
They cashed in on these mortgages at the Fed window and got probably tripple the principle on the mortgage.
They created the damned money out of nothing! it costs them nothing to make these loans, the homeowner took on all the risk so that the bank could profit.... the bank took no calculable risk other than being exposed for their fraud.
When the fraud hit the fan and they tipped the scales to far, they used terrorist scare tactics to get bail outs, they coined terms like "too big to fail".
IT would of been better if these banks were disolved, broken up, debtors relieved, and savers who were dumb enough to put their money in those corupt institutions punished.
The result would of been smaller banks being spread out, more regulation and more prudent lending practices.
Now we have this permananet bail out state.
WHAT GIVES THE GOVERNMENT OF THE PEOPLE FOR THE PEOPLE THE RIGHT TO BAIL OUT A CORPORATION AT THE EXPENSE OF THE PEOPLE? BUT THEN NOT TO TURN AROUND AND DO THE SAME FOR ITS OWN PEOPLE?
THE PEOPLE OWN THESE BANKS NOW!!!!! THEY BELONG TO US, EVERY AMERICAN OWNS JP MORGAN CHASE, AND EVERY OTHER MAJOR BANK OUT THERE.
WHAT SENSE DOES IT MAKE FOR THE PEOPLE TO FORECLOSE ON THEMSELVES?
Thats like buying your enemy the gun with which to kill you, it makes no god-damned sense.
And the people who call these home owners deadbeats are losers, where were you to complain when the banks did the very same thing? when the american people tried to foreclose on the banks we ended up bailing them out.
The insanity of it all.
First off.... the bailouts essentially more or less BOUGHT and PAID FOR all these bad loans! so why are these debts being collected on in the first place when they have already been paid off by a third party? (the govt AKA AMERICAN PEOPLE THAT ARE IN "DEBT") lol its just a joke at this point
I don't blame the home OWNERS for doing it, the bank has NO RIGHT OR JUSTIFICATION to take the property.... the exchange is NOT EQUITABLE.
People are dumb, they don't factor in that, if you bought a home in 2007 and you paid the mortgage for a few months/years you probably already dumped 300,000$ into your house (one way or another).
Say the average person put 300,000$ into their house and then the economy turned to shit 2007~2009.... the economy got fucked BECAUSE OF THE BANKS, IT IS DIRECTLY THE BANKS FAULT THAT THEY COULD NOT MAKE PAYMENTS.
The person is not getting the house for free, he is getting it for the money and time he put into it.
A typical mortgage could be 800,000$ and of that 300,000$ is paid, but if you default these fuckers go after you not for 500,000 , (800-300) but for 800,000 + INTEREST!!! because the way you pay these damned things off makes no sense.
Its almost impossible today to actually ever pay off a mortgage taken out in 2007 unless you are the most successful person in your area (good luck with that you can't even run a business without rakcing up 200,000$ in expenses owed to the state every fucking year because of taxes and meaningless fines and violations).
GG america, the home owner wins the banks win, the tax payer loses, BUT HEY THEY WERE GONA STEAL YOUR TAX MONEY AND WASTE IT ANYWAY might as well one of us gets a fucking house out of it before they send all the money to iran and blow it up in one flaming shit ball of paper.
BRAVO!
BEST HOUSING POST EVER !!!!!!!!
+2007
excellent post, clearly argued, no drama (well, some well placed righteous anger!). . .
Missing drama? here you go:
IDK I was a little P O'D when I wrote this, I been dealing with banks my entire life, ive watched them slowly drain my father, who worked hard his entire life, just to pay off these "creditors" there were times in my childhood, where because of market forces we had to EAT from credit cards, we would always scrape together a living, pay everything off and BOOM just when we really had saved enough to start a business we get stepped on by the banks, the government, the fines the interest... its just you can't win it drains your health and your life.
Im tired of living in a society where we all work for the benefit of a banks bottom line.
THE PEOPLE NEED THEIR MONEY, and the bank stole control of it.
YOU CANT EVEN WRITE A GOD-DAMNED CHECK ANYMORE without the bank questioning what you are doing with your own damned well earned money.
When you don't have access to your money, it isn't yours and thats slavery and im done with it.
If I have to break the "law" in order to live as a free human being , than so be it, LIBERTY or DEATH, if the powers that be want to kill for wanting to be free of slavery then let them come but I want a fair chance to fight to survive, not to sit there and wait for "approval" to live my life.
I VOTE for a system thats fair, equitable and not BASED on fraud and inflation.
Ive watched year by year as this monetary system of slavery has stollen my fathers prosperity, his energy, his labor, and sometimes even the food from my sisters , mothers and my mouth.... ive see my father sit down with the banks lawyers in our living room I GREW UP WITH IT... the intimidation, the threats, and my fathers hair gradually lossing its color.
And I resent them for it, and there will come a day where these ass clowns will eat that karma, the Free ride these clowns get off the backs of living breathing hard working people is going to end, and its going to end soon, even if I have to give each of them the boot into the ocean one by one.
Im going to do it with the law, even if I have to re-write the book, and if I can't re-write the book, then im going to shred it.
Fuck the banks, they are NOT MEANT to be a part of society in its current state.... they have lost that status.... the moment they took that bailout money is the moment i lost EVERY SHRED of a care in the world for what they were supposed to do.
Banks are supposed to be a place where people SAVE MONEY, not a place where you hand your money to some ass clown who goes and takes it to some suedo govt approved black market of fraud and then use that very money against you to have laws passed to do god knows what to you later on.
They are trying to fucking enslave us, and I know what side of the fence i stand on, all others be damned and as far as I am concerned they are all clowns, clowns that need to go into the fucking clown meat grinder.
I hate clowns, and I hate bad jokes and our banks have become the worst circus act in the world.... and the rest of the world is no better.
god bless america, the people of america, and god - damn the queen, her minions and her banks, the old hag needs a new rag, clean up on isle 5 grandmas tea spilled.
GL all, the system is changing, even though its changing slowly.
There will be a day where we have a fair system.... maybe gold backed maybe not, who cares anything.... ANYTHING is better than this system as it stands... where we have a perverbial fire hose spitting money out on the 10th floor and the rich people blew up the elevator and are sitting up there on the 10th with a bucket with a hole in the bottom.
just in case you misunderstood my previous post, I liked your previous post. . .
and yes, things are getting crunchy, getting drama-tic - and for many, it's been drama-tic for years and years. I can empathise with what you're sharing, I've lived some of it, and maybe worse (as in, more dramatic).
there isn't anything more to acknowledge, beyond the fact that banks, and the corporate structures in place to serve them, and the military-industrial-complex to serve both the banks & corporate interests - all of this is embedded in what is named "america" and in some way most of us who grew up here benefited, at the expense of someone else further down the food chain - be it in amrka, or in other countries whose resources were appropriated for our collective use. . .
I say this not to in any way make light of the story you've shared - merely to share how I got over the anger of seeing the injustices on display daily. . . in the long run, amrka has had it more fortunate than many other countries, and "we" had it better than many others, comparatively. when I acknowledge this to myself, it's humbling, and makes the unfair more palatable. . .
if we carry the bitter around, we'll miss the occasional sweet.
peace to you, and yours.
Excellent post is right. You know what I could never figure out, is someone owning a home for ten years, making payments, losing an income and being evicted.
Then they sell the place for whatever they can get and after the lien is paid, I never heard of an evictee getting some or all of his or her investment in it even though there was equity in the home.
I think in these cases it only fair to be able to cut off a room or two and give it to the bank and call it square, keeping the land and the rest of the home for self.
There is a point to be made, IE: A home owner paying the mortgage for 29 years and then defaulting on the last (30th year) , could and probably will lose everything they put into the home, the home itself and any equity.
Why ? because its all setup from the begnining to fail.
They don't want you to pay the loan off, they want to keep you there as long as possible as a debt slave.
The odds of anyone ever actually paying a mortgage off for 30 years is 50/50.
When you signed that mortgage, did you have a crystal ball that told you what your financial position was going to be 5 ~ 10 ~ 15 ~ 30 years down the road?
NO.
BUT
the bank did, they knew exactly where you would be 5 ~ 10 ~ 30 years from now.... because THEY MANIFEST whatever economic conditions they deam profitable.
If they can profit off a depression, they will cut credit and cause one.
If they can profit off a boom they increase credit and cause a bubble.
Granite countertops and iTulips.
In a nutshell.
Almost "biblical".
Wow....550+ comments and counting. The words touched and nerve come to mind.
As Ali G once said, "Is it 'cause I'm black?"
Here, that is clearly the case. Certain morons that frequent this board have a race agenda, and will take absolutely any opportunity to hijack a conversation to talk about that and NOTHING ELSE.
I'd go with "knee-jerk" strings pulled.
Another struggling homeowner?
And my dumb ass paid off my mortage on my little house almost 10 years ago!
Our Dumb asses paid off our mortgage on our hovel about that same time ago.
We no longer have to worry about being evicted or hassled like renters are.
I am not sorry we paid it off. We are making repairs and some generous family has allowed upgrades to happen before they died.
I am ready to replace the roof, install some piers and sound/pest control insulation below. It should not cost too much.
First things first. Physical Metals while we can this year.
We provided the free money, it was involuntarily volunteered on to our future tax bills and our childrens tax bills courtesy of a banking system that rewards insiders and bankers at the nozzle to get rich and also the gubbmant elected scum and gubbament full time WORKERS?, to work at half speed and take double the benefits all courtesy of the middle class plumbers, waitresses, electricians, truck drivers, construction workers, professional engineers who actually build something, and all the real productive people who build assets and nurish them and contribute a positive to the economy, as opposed to the parasytic investment bank fantasty land derivitives etc. If I were president I would implement a simple edict to the gubbament workers you don't work you dont eat, good luck with that.
Hey z hers.
Why cant we all just get along?
Aw, c'mon! This massive shitstorm is much more fun!
THIS IS FIGHT CLUB!
ITs too boring to get along.
LETS WATCH THIS SHIT BURN.
Then the Bank should show up with a few Bulldozers and raze the place.
All they have to do is short sale or surrender the home back.
No more problem.
Otherwise they will be the first when torches light the night at the gates when the hordes come.
He must be trying to get Franklin Delano Raines old spot as chairman of Fannie Mae. He could even be appointed to a top position in the Obama administration. Maybe...........Housing Czar !
This is just a guess, but this mortgage has long since been sliced and diced, CDO Squared, and pieces of it sit everywhere from a desk drawer of a former employee of Bear Stearns---that desk now offered in a weekend sale by a vulture auctioneer in Brooklyn--- to a Bavarian Landesbank---who has pledged it as collateral to the ECB in exchange for some cash to fill holes created when money was lost in an Icelandic deposit scam---every document carrying the signature of Linda Green. This particular mortgage was also included in every synthetic CDO created in the Paulson-Pelligrini/Goldman Sachs partnership, and was stuffed by Fabulous Fab into the gullets of gullible Goldman fish across the globe. During QE II Bernanke bought some of it from BAC and JPM, where it now sits on the Fed's balance sheet and the imputed interest payments on it are being turned over to Geithner's Treasury as Federal Reserve "profits", thus funding the Federal Budget and keeping our national debt within reason, or else are being recycled further out on the yield curve as part of Operation Twist, thus keeping mortgage rates low even for those who do not pay their mortgages. The part ending up at the ECB has been pledged by that "well capitalized" institution to Bernanke in return for FX swaps, so that Eurofunding can go off without a hitch and banks thus have the cash to load up on peripherals' sovereign debt and keep Italian funding rates lower than they might otherwise be.
And the kicker, the Ritters will buy the aforementioned former Bear Stearns office desk at this weekend's auction---using a credit card whose bill they will not pay---and find the the original mortgage inside a drawer. They will claim ownership of the mortgage by virtue of possession, foreclose on themselves, and take full and complete title to the home in which they have never paid a dime.
The system works if we just let it work. Played like The Red Violin.
Kafkaesque with a nice Dickens twist. Well put.
Sasha Cohen and Michael Moore could put it on the Big Screen.
King Mortgage Trolls
I think they got their inspiration from the FED or this "classic" ad
http://www.youtube.com/watch?v=Y-Elr5K2Vuo
If not the homeowner to take the home? then who? the bank who did not pay for it? the investor who got paid off ? the lawyer who never even picked up a law book? who is more entitiled to a home that no one owns equitably than the person(s) living in it?
If I knew the banks did nothing to earn the house and put up no energy to provide the funding, I would not let them take it for free either.
If it went to court and the judge said "your not getting a house for free" I as their lawyer would argue NEITHER IS THE BANK, and I would go on to argue that the homeowners HAVE MORE INVESTED INTO THE HOUSE THAN THE BANK EVER COULD.
POWER TO THESE PEOPLE they are doing the right thing and punishing the fraudulant bank!
Apparently any crime or sin can now be excused by simply muttering, "F-- the banks." As a moral code it justifies and even encourages bad behavior because someone else is worse. That's as old as the hills and on par with my 4-year explanations of doing wrong.
FUCK THE BANKS !
I agree with you its really a mess, but from my point of view, paying these banks mortgage payments is like paying the mafia to come beat you up.
These guys aren't your friend, they don't give a shit if you starve to death so long as you keep making payments.
They sit on one side of the desk and hit print, and you sit on the other side of the desk and work for a living support a family, produce goods and services for the economy (REAL WEALTH).
Then one day they decide to stop hitting print, you get laid off and then they want to come in and take everything you worked your entire life for , FOR FREE, just because they can hit print and we can't.
THATS SLAVERY.
FUCK THE BANKS , and FUCK ANYONE who supports them.
nutshell.
Wow... And I am being sued for a $1200 credit card bill... Unfucking real...
I would fight it, file a bunch of jiberish, ask for the wet ink signature, and their lawyer will ask the judge to dismiss the case.
Its not worth it for them to sue you for less than 50,000$ because it costs them more to sue you than what its worth.
If the lawyer doesn't show up there with your original signature on the agreement, you are not liable.
A copy doesn't doit... its no good because a copy of proof of debt is not proof of debt.
THEY HAVE TO PROVE they OWN that debt.
it doesn't matter if the debt exists or not, they still have to PROVE THEY OWN IT to collect.
These scumbag lawyers go to court with say 400 - 500 lawsuites *the lawyers buy the right to collect on the debts for the banks they pay pennies on the dollar for your debt and usually just get handed shit paper work like statements/copies of applications and other junk.
This paper they have is all scare tactics it means nothing.
They take 500 lawsuites and sit in the court house all day trying to get default judgments on people who don't show up to dispute the debt..... they don't give a shit if you pay or not.... they know they are going to get x amount of people that dont show up.
Rubber stamps is what the lawyers are after, its up to you to give them permission to rubber stamp your debt.
Ask for the original paper work, and they may complain a little and bitch and moan, but just keep on insisitng... they will let you go...
This is not legal advice, this is just common sense.
Ain't much justice to be had from the state, my friend.
Has worked for me, people usually look at me when I leave the court room like "shit what the fuck did he do?" lol they call my name in court and I see the lawyer representing my CC company quickly asking the judge to dismiss it, becasue they know if I go up there, im gona talk loud so that everyone in the room sees what I did to beat him.
So they don't let me speak in court, they just dismiss my case and forget about the debt.
Not that I care, I go there to have fun, its become a hobby making these fools jump around like clowns shuffling more paper than a casino and getting nothing for it.
how anyone is still paying their mortgages after all the fraud thathas already been exposed is beyond me......if everyone just stopped , we could ta control of our lives and country again......but what is the real problem.......is it the ritter are deadbeat niggers and would get to live in a 1.4 million houses and you only get to live in a $500,000 house .......so because that just wouldnt be right, so lets slit all our throats and let Jamie Dimon, John Stumpf, Vikram Pandit and Brian Moynahan get it all.........
It reminds me when Richard Hatch won Survivor 1......the biggest dickhead who was hated by all, won the game , because the 3rd place girl could not live with the 2nd place girl becoming the winner and voted for Hatch........why would anyone do that except for JEALOUSY
your houses have been paid for.......be grateful for what you have today and not worry what someone else may have got......stick together and live free or be jealous and die
It's pointless to pay the mortgage, because the trust has been disolved probably 6 months after you took the mortgage out.
You can take title by yourself 6 ~ months to a year after the mortgage started, im not going to say how do your own research all...
The bank can't send you or give you title, its impossible for them to do.
All the bank can do is file a "release of mortgage" upon your request.
You can have the title in your hand and still have a mortgage ;) because all the mortgages are unsecured (they are like credit card debts now).... they really can't come and collect your house.... because they have none of the paper work.
My bank was crafty (JP morgan) they tried to forge the paper work (I have a certified copy of the originals) and they filed a forged signature in the court , and the signature doesn't resemble at all the certified copy).
So they clearly sold it/shredded it etc.... so they OFFICIALLY DONT OWN the mortgage.
As far as am concerned , I have no mortgage until someone shows me the real original wet ink signature, and this title looks nice in my safe.
If they want it, they can have it, but im gona make them prove they have an equitable reason to take it.
Until then ill collect equity out of it (save money by not paying rent, and there by in a way getting back some of the money I put into it atleast before they force me to relinquish title (if they ever do)), Im such a nice guy ill even pay the real estate taxes for it (i could of let them pay it forever If I wanted).
I put 350,000$ into the house , the mortgage was 890,000, the house is worth 450,000 ish (give or take), if I pay the mortgage out over 30 years, its probably like 3,000,000+ dollars they would of sucked out of me.... for a 400,000 house.... yea... id rather just lose it and save up and buy the same house in 3 years for 200,000.... honestly.... they took my last house because I just didn't give a shit (it was an investment property that I was renting out, and the tenants turned the place into a shit hole, would of cost 40,000 to renovate)) , let them have it, its their problem now (lol they are probably cursing me out because I didn't keep it) XD... I should call them, they probably would sell it back to me for 2 ~ 3000.
O well the clowns are in the circus and the clown car has a flat.
Not my problem SAD FOR YOUUUUUUUUUUUUUUUUUUUUUU
I need to plant some more Purple Sticky.........I really want to be baked when the system is finaly fried. We just do it in opposite ways, plus it will make for some unreal barter as will Red Lights.
It's everyone for themselves. No rules . whoever comes out on top is right. why even have courts? when banks wake up to this fact , they will resort to self help and mid night evictions.
It's everyone for themselves. No rules . whoever comes out on top is right. why even have courts? when banks wake up to this fact , they will resort to self help and mid night evictions.
Teachers, firefighters and cops negotiated free plastic surgery for themselves on the back of the tax payer. We are so pissed about these two people gaming the system and we are being raped everyday for BILLIONS by the Government class over and above us.. Free plastic surgery, its for the cheeeldren..
http://www.opposingviews.com/i/politics/it%E2%80%99s-kids-buffalo-teachers-receive-free-plastic-surgery
Buffalo firefighters and police have a similar policy in their union contracts.The Buffalo Board of Education, headed by Louis Petrucci, has stated that the school system spent $5.9 million on plastic surgery last year and is running a $42 million deficit for the next fiscal year. Worse still, three out of four Buffalo schools are on administrative watch for poor performance.
READ IT AND WEEP, EMBRACE THE HORROR, ITS COMING..
The ritters are fucking beginners at gaming the system.....romper room. The Real Gamers of the Sytem are the unions for all the govt workers, teachers etc. Genius............they game the state rules, all the rules, keep votes and cash rolling, keep their guy in the right seats and then play the 'poor me' card, the downtrodden worker, just trying to hold their own against the 'man', its actually a much bigger scam going on than housing. Mostly because its been going on for years, is LEGAL and will continue into perpetuity. fucking genius.
oh, and before anyone starts getting on my case about Union bashing, I have family that will likely not see money due to underfunded or pretend-non-existent retirement packages out of IL. Worked for years and wonders where all the money goes? How are they in such a deficit if she and her co-workers are bracing for lower payouts, no one seems to know where the money goes?
Now I know why the anointed one wants my tax cash. So black folk can have a nicer house than me.
Judging by this scenario I'd say a Snake Pliskin drama can't be too far behind.
What a fucking travesty
Lot of jealousy on this thread from a bunch of people who complain about all the ways they can't get over in life...lol priceless
maybe that douche bag Springsteen will wite a song about these folks.........
Long Toll Brothers
I think what I like most about the extra racists posts is the reminder to never trust you bastards lol...that and seeing how you really feel since the bitch in you won't allow you to ever air how you feel in real life....as a black man that's known and talked with many other black men, rarely if ever do we get a chance to hear how you really feel (most of you are too scared)....not sure if that's a reflection of how soft you are or how much of a threat you know we are...if you feel this way you owe it to yourself to man up one day...at least test and see if you really believe what you claim to believe...because I don't believe people that just rant on the internet...its corny...prove it to yourself one day
Yeah I know...vote it down...but I've been a black man long enough to know what it is....unless you have some liquid or group courage... its no wonder Pat Buchanan is going crazy about birthrates because the power is damn sure in the numbers lol .... he must know what I know how much bitch there is in the individuals ...but it explains the fixation on guns...its like the kid who gets the shit beat out of him and becomes a black belt...gotta compensate for that perceived innate weakness and vulnerability...
Hey tough guy, get over yourself. It's a silly instinct from days gone by if you want it to be. If you want it to be a monster, then it owns you.
"Gaze into the abyss and the abyss gazes into you"
OR
"Next!"
you choose
I'm just telling the truth...it may be a silly "instinct" (let's just call it what it is....FEAR) to you but this perceived vulnerabillity has turned into a system of oppression over genetic threats all over the planet and a subconsciously justified way of life that is incompatible with the goddman planet at this point... the people who typically do the best according to this system have the most active responses to their amygdalas...regardless of the actuality of the "threat" ...the problem with the world is that the psychopaths think everybody thinks like they do...
Since when did you decide such matters as for what's best for the planet?
Wait. Have black people been wronged by white people? What's all the hostility?
1 of U is finally in the "white" house, so everything's been fixed!
Thats fucked up dude.
Awww come on now,it's the American fucking dream.
The fact they are black is irrelevant to me. It's just another travesty of a seemingly endless number. Just please don't defend it by suggesting other forms of stealing are good. It's all bad, including this.
They are obviously stealing. But think about how the USA's entire standard of living is on the backs of others whose wealth we steal..unborn future generations of Uhmerikans, persons we persecute who live near the "Synagogue of Satan" AKA Israel...(Rev 2:9, 3:9)...
"Judge me not by the color of my skin, but by the dark shadow cast across this nation" - President Obama
...a shadow with very big ears...
Both parties to this mortgage were steeling. The buyer had no intention or ability to pay, as demonstrated by the fact he never made a payment. The bank knew he wouldn't pay, because the other McHouses were of record, so his liquidity could be checked. That bank likely sold this fraudlent security as AAA, and rolled it over into the next fraudulent transaction. All this theft comes out of my pocket and yours. Since this house sold in 2007 until now, it has dropped by half in price while my groceries, utilities, health costs had doubled. I know exactly who was defrauded and who paid.
None of these bastards are in jail. Not the mortgagee, not the bankers and more recently not the CEO of MF Global who stole 1-1/2 $B. There will be no economic recovery, because there can't be any confidence when there is no justice or the rule of law.
The originating bank - my guess is Wells Fargo - prolly was obligated to buy it back since it was a 'first payment default'.
Papasmurf, really well said. Great reminder that we have a Prosecution Crisis as much as anything right now. If ANY normal function was allowed in the real estate market now, then bankruptcies would proceed, defaults would proceed, but we don't have that. I could be wrong here but it seems that with the govt allowing the banks to shelter losses, there is no point for them to clear the books, they have no skin in the game for investors in mortages, the robosigning was just embarrassing, but its not a normal market. The bank and govt are working together. Everyone wants the miracle of the mkt, but you gotta let it operate on its own. Your comment was great
Papasmurf, really well said. Great reminder that we have a Prosecution Crisis as much as anything right now. If ANY normal function was allowed in the real estate market now, then bankruptcies would proceed, defaults would proceed, but we don't have that. I could be wrong here but it seems that with the govt allowing the banks to shelter losses, there is no point for them to clear the books, they have no skin in the game for investors in mortages, the robosigning was just embarrassing, but its not a normal market. The bank and govt are working together. Everyone wants the miracle of the mkt, but you gotta let it operate on its own. Your comment was great
And what a coincedence that the Bankruptcy law was passed in 2005 JUST before the housing bubble and student loan bubble popped.
Being all moral and everything saying 'They Signed the Loan' is like telling me to take a knife to a gun fight.
Yeah,nothing like paying for somebody's fucking school districts new fucking gym or urban garbage govt lunch pyrmid.
Think of it as insurance so the state raised thugs don't gank all your shit.
USSA - Maximizing human regression since 1913.
http://bible.cc/luke/9-58.htm
Woe... (lawless) Criminals remain in contempt of the mercy of our Father in Christ. They sit in Chairsatan's Mansion with whips upon labors back and no mercy for the homeless that know the price of their contempt
...AND THEY ARE SO EVIL THEY WOULD SEEK MERCY FROM THEIR ''SCREW YOU POSITION!!!
ChairSatan's Pilgrims, the Suicide Vampire Squid of the Great Wal Mart of China and Rosemary's Baby ...will not rise out of the black hole to meet mercy. http://www.youtube.com/watch?v=CN3SvSos4gA&feature=related ...so it looks like they will remain sealed in judgment, having accepted the mark of the beast.
Americans, that certainly know better than to make everyone a slave to their master, Satan. Well, you are what you claimed to hate now. Paaathetic.
Hell..low Mr. P.S. Down Arrow. Is your objection another pathetic claim of dominion? Lol. Do you not like your black hole image. Do you not devour the principle of your mercy with your objection? Lol. Is there foundation for mercy based on contempt for mercy? Lol. Sealed in contempt, having not divested in due season, don't fools think to escape their own judgment as they remain in contempt of our Father in Christ? LMAO http://www.youtube.com/watch?v=JAzTnsSgs2s&feature=related
The ACORN CIA OWS disinformation crew is thick as thieves on this post.