Comments on: Creditors Without Proof Of Ownership Face Foreclosure Delays http://www.foreclosuredataonline.com/blog/face-foreclosure/creditors-without-proof-of-ownership-face-foreclosure-delays/ All about the foreclosures business. Foreclosure News, Foreclosure Listings, bank foreclosures, foreclosure homes, hud homes and much more. You article and news source. Thu, 12 Nov 2009 23:13:05 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Wayne Blanchard http://www.foreclosuredataonline.com/blog/face-foreclosure/creditors-without-proof-of-ownership-face-foreclosure-delays/comment-page-1/#comment-3931 Wayne Blanchard Thu, 12 Jun 2008 12:26:49 +0000 http://www.foreclosuredataonline.com/blog/face-foreclosure/creditors-without-proof-of-ownership-face-foreclosure-delays/#comment-3931 The real problem with Banks/Mortgage Companies is that all loans created by credit (mere computer or bookkeeping entries where no money is involved) are fraudulent. The Borrower is lead to believe the Lender is lending money. The Bank or Mortgage Company puts nothing at risk and is therefore not a 'holder in due course', which is requisite for lawful foreclosure. The loan is funded by the Borrowers signature, which is monetized by the Lender, thus that signature creates the value for the loan and validates the fraud. In addition, the Borrower pays interest on non-existant funds...the magic of credit creation and fractional reserve banking. The real problem with Banks/Mortgage Companies is that all loans created by credit (mere computer or bookkeeping entries where no money is involved) are fraudulent. The Borrower is lead to believe the Lender is lending money. The Bank or Mortgage Company puts nothing at risk and is therefore not a ‘holder in due course’, which is requisite for lawful foreclosure.

The loan is funded by the Borrowers signature, which is monetized by the Lender, thus that signature creates the value for the loan and validates the fraud. In addition, the Borrower pays interest on non-existant funds…the magic of credit creation and fractional reserve banking.

]]> By: Nick http://www.foreclosuredataonline.com/blog/face-foreclosure/creditors-without-proof-of-ownership-face-foreclosure-delays/comment-page-1/#comment-585 Nick Tue, 20 Nov 2007 19:31:03 +0000 http://www.foreclosuredataonline.com/blog/face-foreclosure/creditors-without-proof-of-ownership-face-foreclosure-delays/#comment-585 That's good to hear one area so far is taking somewhat of a stand for homeowners against these loans. The banks originated garbage loans knowing they'd be packaged into incomprehensible investment instruments, and now they can't even keep track of who owns the loans and is supposed to be doing the foreclosing. All they're sure of is that they want to take the properties back now that they have a chance, even if they don't have any legal right. That’s good to hear one area so far is taking somewhat of a stand for homeowners against these loans. The banks originated garbage loans knowing they’d be packaged into incomprehensible investment instruments, and now they can’t even keep track of who owns the loans and is supposed to be doing the foreclosing. All they’re sure of is that they want to take the properties back now that they have a chance, even if they don’t have any legal right.

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