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The Next Housing Shock In The Us Is Coming

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Crash 2 is gathering momentum in the US. This short report investigates the housing crisis in the US which is growing increasingly desperate for many people who face repossession. Banks who cannot find legal documents behind mortgages are now resorting to forging documents to evict home owners. Tens of thousands of people camping out in 'mortgage lines' and convention centres to beg their banks for lower payments on mortgages and more

http://www.youtube.com/watch?v=JaBVVuSpPXE

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Crash 2 is gathering momentum in the US. This short report investigates the housing crisis in the US which is growing increasingly desperate for many people who face repossession. Banks who cannot find legal documents behind mortgages are now resorting to forging documents to evict home owners. Tens of thousands of people camping out in 'mortgage lines' and convention centres to beg their banks for lower payments on mortgages and more

http://www.youtube.com/watch?v=JaBVVuSpPXE

Inflation will tear the marginal owners to shreds financially.

Still, the wallstreet crooks will be ok, they can lie, cheat, steal terrorise, coerce, manipulate and pay their political representatives to bend all the rules their way.

Edited by OnlyMe

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Read the other day that 90%+ of the US mortgages are now guaranteed by the taxpayer.

The hidden bailout whereby all toxic assets are passed on with no losses to the banks.

Still they deserve their bonuses and anyone who disagrees hates capitalism or something like that.

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Surely this is good for borrowers? If the banks can't prove title they can't foreclose. :P

The US could end up with thousands of Irish style repo ghettos consisting of vast swathes of vacant unsellable homes, which ain't gonna be good for the economy and it's borrower-consumers.

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Inflation will tear the marginal owners to shreds financially.

Still, the wallstreet crooks will be ok, they can lie, cheat, steal terrorise, coerce, manipulate and pay their political representatives to bend all the rules their way.

Was all baked into the cake IMO, I've come to the conclusion that the elites do not want us to own homes any more.

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Was all baked into the cake IMO, I've come to the conclusion that the elites do not want us to own homes any more.

It all proves that lending when there is little prospect of affording the loan is far worse than never being granted one in the first place. There is a massive fall in living stanbdards going on because, one way or the other, the USA and all the weste will be made to pay for their illusory wealth creation scheme of the last 15 years. Some are being hurt very badly and a few not atall. Not fair. Never is, never will be.

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Was all baked into the cake IMO, I've come to the conclusion that the elites do not want us to own homes any more.

You're right in the sense that this is the part of the cycle where the little people get asset stripped. Then the build up part of the cycle can begin again.

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So if joe sixpack were to present forged documents to a US court it's a safe bet he would be prosecuted- but when done on an industrial scale it's ok?

Sick isn't it, all done by design if you ask me, the banksters new exactly what they were doing

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You get the last half of the report here and it gets worse,

It's utterly appalling.

As an erstwhile lawyer I'd say there is absolutely a prima facie case for perjury, contempt of court and conspiracy here.

Not that anyone needs any legal qualifications to see that. It's as plain as a pike staff.

Edited by indirectapproach

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So if joe sixpack were to present forged documents to a US court it's a safe bet he would be prosecuted- but when done on an industrial scale it's ok?

The rule of law is only for the proles, the elites just do as they please.

Still at least the entire financial system isn't in danger of imploding.

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Various US blogs have been banging the drum on this for a year.

Obama has tried every way to bend over for the banks, but it looks like the lawyers are too entrenched now. A few cases recently where bank foreclosures were dismissed with prejudice ie. same servicer can't act as plaintiff in future and land registry ordered to put title in borrower's name. Plus the land registries in the states have openly called out the bogus registration system used by lenders and servicers. And the cosy deal proposed between state attornies general and the servicers is looking ropey.

I think everyone's waiting for a big appeal case to open the floodgates, but the nature of the process means only a servicer could realistically bring that appeal - and they are NOT going to risk it!

The securitisation system in the UK is impeccable by comparison, but our banks do use some godawful yellow-pack firms. Ticking boxes and meeting targets are more important than practising to ethical standards, and the low-end employees of those firms consistently complain about the working conditions. Independent lawyers acting for those firms in court are actually docked marks for not getting the order the firms wants, even where the justice of the outcome is plain AND even where the order is even more in the client's favour! The lawyers still get paid, but it's clear they're in a race to the bottom.

Still, not as bad as in the US, where "vice-presidents" of the servicers were getting paid $6 per hour to sign affidavits they didn't understand. But we're getting there, as the justice system is stripped away by successive governments.

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Read the other day that 90%+ of the US mortgages are now guaranteed by the taxpayer.

The hidden bailout whereby all toxic assets are passed on with no losses to the banks.

Still they deserve their bonuses and anyone who disagrees hates capitalism or something like that.

Max Keiser has been screaming it at us for years "Its a financial coup d'├ętat!"

Edited by athom

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Read the other day that 90%+ of the US mortgages are now guaranteed by the taxpayer.

The hidden bailout whereby all toxic assets are passed on with no losses to the banks.

Still they deserve their bonuses and anyone who disagrees hates capitalism or something like that.

I've spoken to Americans about this, and they blame .......... Bill Clinton for the mess. :unsure:

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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