NOTE THIS WAS SENT TO ME WITH NOTATION : WHAT A SLAP IN THE FACE.
You know the banks are allowed to SELF POLICE and restart foreclosures next week. This guy thinks your MOM deserves to lose not only her retirement because of the bank defrauding investors BUT also deserves to lose her HOME l because of the bank's loan, mortgage and foreclosure fraud. The fraud has assisted the weak weak weak, economy. NOt only that poor old mom may not get social security raise either.
click link to read article in full:Mortgage Securities Show U.S. Foreclosure Crisis Overblown: Credit Markets - Bloomberg: "The mortgage-bond market shows investors are shrugging off speculation the U.S. is in the throes of a foreclosure-document crisis.
Bonds tied to home loans on which borrowers often failed to document their incomes or on properties they didn’t plan to live in were up 1 cent at 64 cents on the dollar at the end of last week from a month earlier, according to Barclays Capital. The most-senior securities backed by so-called Alt-A mortgages with a few years of fixed rates have climbed 31 cents from a record low last March.
Federal officials including Treasury Secretary Timothy Geithner say delays in foreclosures, as attorneys general in 50 states investigate allegations of falsified documents, won’t lead to a moratorium on property seizures. Lenders eventually will be able to take back houses in almost all cases because homeowners have missed payments and the records aren’t that seriously flawed, according to TCW Group Inc.’s Bryan Whalen."