Unsealed court-settlement documents reveal banks stole $trillions' worth of houses

[dixiegrrrrl]

44. Be aware that Countrywide ADMITTED to destroying mortgages.

The big banks, esp. BOA, knew all along they did not have legitimate mortgages from Countrywide, so they set up robo signing to create fraudulent copies of the mortgages.
And the problem with that is the forgeries contained errors, including they did not contain a legal truthful signature by the homeowner. There are affadvits by former robo signers who admitted to forgery, to signing as a bank official when they were not officials, admitted to signing hundres of forgeries using different names and titles, etc.
This is where the legal terms enter the picture.
By law the mortgage and title/deed of the house has to be kept together, intact. But the original paperwork by Countrywide was missing entirely. At one point, BOA claimed the original deeds were in a warehouse in India!

That is why MERS was invented, to give cover to the lack of original legal documentation.

The banks went to court to foreclose, and swore they had the legal papers to foreclose, but in truth they did not.
Some judges blocked the foreclosures because of this, some rubber stamped the foreclosures.
And in non-judicial states, where the banks did not have to go to court to foreclose, the illegal legal paperwork was not an issue.
Banks foreclosed on houses where their were NO mortgages at all. foreclosed on homeowners who had never missed a payment.
So it does not matter if some home owners 'deserved" to be foreclosed on.
What matters is the banks practiced pervasive repeated fraud on homeowners, and stole the houses by illegal means.