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Old 09-25-2009, 11:05 PM   #4
Northern Boy
Avalon Senior Member
 
Join Date: Oct 2008
Location: On this Rock
Posts: 1,390
Default Re: Shocker : Fed To Print 1.45 Trillion dollars

there is a trend in the foreclosure market right now where the paper work being filed with the courts is being done by a firm who does not possess the paper work for those behind on their Mortgages . This firm does not have a leg to stand on in a court of law unless they can produce the paper work. Similar instances of this have occurred in the past . If the paper work can`t be produced to show the debt exists then possession becomes 9/10ths of the law as long as you are the deed holder and the debt existence can not be produced you could in a court of law walk away with your home regardless of what you have owing on it .

The banks are now seeing large numbers of people refusing to leave their homes until the paper work is produced . These people will end up debt free in them and the banks lose big time . So the corse of action is to buy up this toxic mortgage debt and try to force people out . But most of this type of debt has been sold off to countries in the form of derivatives who don`t even know they have it. So it will be an effort to sort it out and this will tie up the courts for years and years trying to figure it out.
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