What happens when you bundle, repackage, fold, spindle and mutilate mortgages over and over again? Inevitably, the purported noteholders sometimes lose the paper trail needed to prove they actually own the note. In other words – “Foreclose THIS!” Good article from Chicago Law Bulletin (thx JB). This is my first experiment with Scribd – the zoom button is your friend:
Jason // Feb 20, 2009 at 11:21 am
Yes, I seem to recall this strategy in traffic court: demand to see enough paperwork regarding the calibration of the radar equipment and training of the officer, and supposedly some paperwork will be missing and you get out of your ticket.
alyx // Feb 20, 2009 at 11:22 am
Hey, if it doesn’t work, you really are no worse off than if you didn’t try it.
Davros // Feb 20, 2009 at 11:45 am
What about moving into buildings you don’t own. Now that would be funnier.
Rightwingsnarkle // Feb 20, 2009 at 3:30 pm
Hey, is that guy asking us to pull his finger?
Rightwingsnarkle // Feb 20, 2009 at 4:29 pm
According to speculation at the Great Orange Satan (All hail, Dark Lord Kos!), BAC and C are history.
SnoDad // Feb 20, 2009 at 5:14 pm
Cool -
Also, Righwingsnarkle – check this out:
http://www.capitalismgonewild.com
mr3 // Feb 21, 2009 at 7:41 pm
the next step is lenders demanding homeowners produce paperwork proving they’ve had the ability to pay a mortgage.
RobT // Feb 21, 2009 at 10:35 pm
No, no, no, mr3… that’s crazy talk. Nutjobs like you bandy about insane ideas like ‘references’, ‘credit history’ and the penultimate, ‘income verification’. No thank you. What kind of a word would this be if a 24 year old can’t buy a $400k home on $25K a year?
Only a few more trillion given to our blessed banks, and we can all forget this ever happened. God willing, gluttony may reach even greater heights.
Now, everyone back to work, because you all have students loans to pay off.