Just what would happen if Americans finally woke up and realized that the federal government was effectively the biggest plaintiff in foreclosure cases all across America? The banksters don’t really own anything, it’s all Fannie/Freddie…and Fannie/Freddie are in big trouble. The entire American financial system, and especially real estate finance, is a shell game played atop a rickety old card table.
From the Bulletin:
Fannie Mae is at all times the owner of the mortgage note, whether the note is in Fannie Mae’s portfolio or whether owned as trustee, for example, as trustee for an MBS trust. In addition, Fannie Mae at all times has possession of and is the holder of the mortgage note, except in the limited circumstances expressly described below. Fannie Mae may have direct possession of the note or a custodian may have custody of the note. If Fannie Mae possesses the note through a document custodian, the document custodian has custody of the note for Fannie Mae’s exclusive use and benefit.
© 2010-13 FORECLOSURE FRAUD | by DinSFLA. All rights reserved. www.StopForeclosureFraud.com
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Excellent article. Thank u!
Because the Government is the legitimate holder of ALL of the mortgage notes, it has the ability to supercede all of the delay and foreclosures and/or bankruptcies that the populace is undertaking because of excessive debt. The banks and businesses have been bailed out, now it’s time for the people, who stimulate the economy through the money they spend daily, to receive a bailout encompassing the following:
(1) Executive Order ceasing and desisting ALL foreclosure activity;
(2) Executive Order granting refinances of all underwater and other mortgages in line with the current market value as determined by Realty Trak or other realtor bodies and/or appraisals;
(3) Executive Order calling for all participating in plan to permit mandatory bi-monthly deductions from whatever resources they have available to pay modified and/or refinanced mortgages;
(4) Executive Order calling for forced savings of a portion of the disposable income of all those participating in the Revised Homeowner Affordable Mortgage Program (HAMP II).
(5) Forced savings will permit the U.S. to build its reserves, and facilitate repayment of debt to its creditors in a global level. By building our savings reserves, the U.S. would go from a major debtor to a major saver, and would, as The Holy Bible states: “Lend and not Borrow.” God bless!