Today earlier we had read in the paper that the foreclosures were at the highest level in history. i believe it was over 100,000 What a shock (not) to me! What did they expect with about 1 million homes per year being foreclosed on... estimates are higher for next year. The media is noticeably calling it like it is: criminal. They mentioned what to some of my readers might be considered old news (at least days old) that in one deposition an employee admitted to signing 10,000 foreclosure documents per month. The documents that require review and notarized statement that the signer PERSONALLY KNOWS what is in the paperwork.
OUTSOURCING OVERSEAS- INTERNATIONAL CRIME?
The news report also mentioned something reported previously about how the documents are even prepared out of the country... outsourced to Guam or the Philippines. The impact is just now hitting Americans. People are mad..... The stock market numbers were lower AND of one vital interest to me BANKS are hurting. It is going to cost them a lot to fix up the mess THEY created and to make things right. People have been trying for a few years to get attention to this and now it is boiling!
As one foreclosure defense person puts it... . If we all stop using the banks, cancel accounts and go back to cash - they would be done in one week. This would eliminate the faud, the control and the costs to our economy. Wall Street was seeming to reflect that the Banks are heading towards crisis, as people are in shock at the deliberate fraud in paperwork. Now there is an idea. Americans should just say no... no to usury. Stop banking enough to make the banks fix the problems and admit the wrongdoing instead of saying "WE DON'T NEED NO AUDITS"
To Read the transcript of ABC news report click on this link :