Comments on: Foreclosure paperwork could cause another housing crisis

By: theCL

theCL — Fri, 15 Oct 2010 22:19:07 +0000

At all costs, we should prevent this paperwork fiasco from manufacturing another housing crisis. … but there is one fact that still remains. All of these homes are being foreclosed on because of one reason. The payments were not made …

It’s a little more complicated than that … For starters, this is just the latest episode in the unraveling of the Great Fraud. In other words, we’re still in the housing crisis, with a long way to go.

The title issue is a matter of property rights. Nobody knows who owns what. Can you imagine paying your house off free and clear only to find someone else holds legal title to your house? A guy in FL for example, was foreclosed on and kicked out of his home even though he owned it free and clear. Do you see what I’m getting at? Who owes who money is just the tip of the ice berg.

By: LD Jackson

LD Jackson — Fri, 15 Oct 2010 10:41:54 +0000

Thanks for providing the link, Colin. I have already read through his first article and will be try to finish up the rest of them later today or tomorrow. (Depends on what time I get back from fishing.) He does seem to explain it well.

By: fleeceme

fleeceme — Fri, 15 Oct 2010 10:14:05 +0000

I am with you guys. Pretty smart fellow brought to his knees by the ways people come up with to make money without actually doing anything. That being said, I found a pretty good blog that explains what is currently happening if you want to read it. Warning, methinks he leans a little left, but for the most part he seems to explain it well. Foreclosure Fraud For Dummies

By: LD Jackson

LD Jackson — Fri, 15 Oct 2010 09:39:40 +0000

You are right, Matt. The market has to correct itself. I wish I understood more about how this all worked, but the pain is going to be bad, I am afraid. Hopefully, the government doesn’t do something to make this latest problem any worse than it already is.

Thanks for your comment.

By: Matt

Matt — Fri, 15 Oct 2010 04:14:46 +0000

This could be bad, though I’m by no means an expert. The prices became inflated. The market has to correct itself to reflect reality. However, that is going to inflict some pain. A lot of it, in fact.

By: LD Jackson

LD Jackson — Thu, 14 Oct 2010 21:47:46 +0000

I really can’t answer that question, Dominique. I just hate to see this turned into another circus that does no one any good. I am not so sure our economy can withstand another such blow.

By: Dominique

Dominique — Thu, 14 Oct 2010 16:57:51 +0000

I’m like you. This is very confusing especially since I have never owned my own home. Having said that I most definitely do not want to see this become another political ball to lobby around during elections, by either side of the aisle. I wonder (after having just read American Watchtower’s newest post) if this should be a matter for each state to figure out instead of the government?

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Thu, 14 Oct 2010 12:28:18 +0000

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