Banks Win Mortgage Settlement From Regulators

[ms.smiler]

1. I still think the only way this scheme will be unraveled is from the bottom, one homeowner at a time

Those wrongfully foreclosed homeowners need to find competent legal counsel and sue for Wrongful Foreclosure under state or federal law. Wrongful foreclosure generally carries damages of 3 times the value of the property.

The foreclosing party likely did not own the loan and did not have a valid lien upon the property. They likely also wrongfully reported as a creditor on the consumers’ credit report. If the consumer has a MERS mortgage, the original mortgage likely contained fraud.

While they are filing suit, might as well sue MERS since MERS breached the mortgage contract by likely violating state recording laws thereby clouding the property Title.

Like other states, the Recorder of Deeds of Montgomery County in Pennsylvania sued MERS regarding unrecorded Assignments of Mortgage and the unpaid recordation fees. Those unrecorded Assignments cloud the property Title of homes that were foreclosed and homes where the mortgage payment is dutifully paid.

Trillions of dollars of wealth was stolen from homeowners and trillions are owed in damages, but only if the homeowners file suit and demand accountability.


*** To anyone following my Quiet Title lawsuit, this past year I made it to #55 on the trial list and am still awaiting trial.