"NO body knows who owns your home or business"

[dixiegrrrrl]

"this is not only residential, this is commercial, and I say, with a high degree of confidence,
that nobody in this country knows for sure who owns any real estate"

Must see....attorney on Ratigan show.

at the 8:40 mark

http://www.youtube.com/watch?v=1EF1sPx2Ni8

[Dawson Leery]

1. Securitzed loans were a bad idea.

Sercuritized loans are not allowed (illegal) in Canada and Europe.

[Greyhound]

4. They were illegal here as well.

Clinton & Co. opened the door, shrub kicked it down. In both cases they were warned that this is exactly what would happen and just like the current administration is doing, they ignored the warnings to favor their owners.

[Dawson Leery]

24. That is the difference.

Canada has five big banks that cannot do many of the things that US banks are allowed to do.

[Greyhound]

25. Most people don't recognize that banking is, was, and should be a totally

different animal from the so-called finance industry.

Banking is about the creation and control of national currency, the financial industry is about stealing as much OPM as possible without contributing anything.

[notadmblnd]

2. That's what I've been trying to get across to some of these people that are buying

foreclosed homes. They may not own them.

[dixiegrrrrl]

30. I cannot find out who owns my NON foreclosed home

that I bought in 05.
did everything "right":
30% down, no early payment penalty, no PPI, no escrow, we pay a little ahead on the principal each month to reduce
the overall interest.
but I did not know that BOa does not own the note.
So even if we do pay off the mortgage, there may not be a note in existence and the court cases could drag on for years.

This is NOT just about the foreclosure issue. It is about every home title for the last 25 years.

[ClintonGeo]

3. "NO body knows who owns your home or business"

As to the land God created it so he owns it.

[Greyhound]

5. riiight...

And what "God" would that be?

[Renew Deal]

18. Can someone give me the number for God's town clerk?

I need to get a copy of my title. O8)

[mediaman007]

6. Can you own it yourself, if you don't believe in God?

I mean He should really just own the stuff he gives to Christians, right?

[arbusto_baboso]

7. Actually, the meek own it.

Jesus said so, right?

So hand it over. I'm plenty meek.

[WinkyDink]

21. Not quite yet.. ;-)

[lonestarnot]

29. Nope. Back off weak. Not all early birds get the worm.

:evilgrin:

[Deep13]

8. That's not what it says on my real estate deed. nt

[JuniperLea]

13. I made sure to take another look at my trust deed...

And made sure it was in a very safe place. I may have more right to my home than the bank does at this point.

[villager]

10. She does? So then strip mining, clearcutting, etc, are as blasphemous as we always suspected?

n/t

[Renew Deal]

16. lol

I think you missed the point

[WinkyDink]

20. 1. Prove there's a God. 2. Prove God is a "he," 3. Prove why you are here on DU.

[MineralMan]

26. To which of the thousands of deities do you refer?

[Rex]

28. Why does he own it, just because he created it?

This is important since technically he doesn't own it anymore. Guess who owns that land now. Guess!

[Wickerman]

9. I'd hate to be in the title search business in about 5 years

There will never be validity to most titles from what seems to be coming out. Makes title insurance an even more valuable asset. Of course, they will figure out a way to fuck that up, too.

[tridim]

11. If this is the vid from yesterday's show, he also said..

Paraphrased, "Whatever you think you know about the foreclosure mess, it's actually a thousand times worse than anyone knows".

That sent shivers up my spine.

I don't think the REAL housing bubble has burst yet.

[Statistical]

12. Then I say all property is free and clear.

WOO HOO. I bet banks won't do that again if they lose $8 trillion of shareholder money.

[JuniperLea]

15. Too funny...

I just posted the idea that we all stop paying our mortgage... hey, they stole a hell of a lot from us, we should steal it right back.

[JuniperLea]

14. What if everyone stopped paying their mortgage?

My imagination is running wild right now.

[villager]

17. We need some kind of national strike -- even if it's a payment strike

It's the only way "our" politicians will listen to us, instead of their actual bosses...

[JuniperLea]

19. Good call...

If only we had the guts of the French... they have no problem shutting the country down when the people need change.

[dixiegrrrrl]

34. Actually , there are proposed steps to do just that.

1. Write for the note.
2. When the "servicer" cannot produce it, get a lawyer and go to court.
3. Offer to put your monthly mortgage in a a set aside fund for a specific time ( 9 months, say)
and the court can pay the bank if the bank can produce the note.
Otherwise, have lawyer file for what is called a quiet title, you get the money back, and may be able to sue
for back payments since they were paid to non-existent owner of the note.

People are doing this, the internet says.

Some useful links here for form letters asking for the note:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9326993

[glinda]

22. here you go:

http://action.seiu.org/page/speakout/wheresthenote

[drm604]

23. Is that literally true?

Don't get me wrong. This is a potentially disastrous clusterf*ck. But is it really true that nobody knows who owns any real estate?

For example, my parents bought the home I grew up in back in the 50s and they paid it off in the 80s. It's been free and clear since then. Can their be any doubt that my mother owns it?

[MineralMan]

27. No, your mother definitely owns it. Just like I own my house.

There are no liens, no encumbrances, or any other clouds to the clear title I hold on it. The title search showed a clear, unclouded chain of titles back for 75 years, when the property was still owned by a farmer, who sold it to the developer who built this neighborhood. None of the mortages on this home have ever been held by more than one entity. I paid cash for it and the title is absolutely clear.

I have insisted on absolutely clear titles on every property I have owned. Any problems and I move on immediately.

[drm604]

35. Oh, I had no doubt.

I was just asking a rhetorical question. I hate it when people say things that are clearly not true, like "nobody in this country knows for sure who owns any real estate". That's obviously false.

[Octafish]

31. Well, that could cause a problem.

Let's just solve it by forgiving all debts, as in the Biblical Year of the Jubilee.

Edit to add: Works for Wall Street.

[spanone]

32. i own mine. paid for. got the deed.

[flvegan]

33. Alarmist AND uninformed.

And I'm only guessing at context.