CNN & Congress say banks can't foreclose

POSTED BY: piratenews
UPDATED: Tuesday, February 3, 2009 01:09
VIEWED: 2740
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PIRATENEWS

Friday, January 30, 2009 2:29 PM

When greedy banks resell mortgage notes then lose the paperwork, YOU GET A HOUSE FOR FREE!

Deutsche Bank Foreclosures Tossed Out of Ohio Federal Court - “They Own Nothing!”
www.iamfacingforeclosure.com/blog/2007/11/12/deutsche-bank-foreclosure
s-tossed-out-of-ohio-federal-court-they-own-nothing/

Quote:

http://transcripts.cnn.com/TRANSCRIPTS/0901/29/ldt.01.html

Aired January 29, 2009 - 19:00 ET

LOU DOBBS, CNN ANCHOR:

Also a member of Congress telling homeowners they should fight back against foreclosure urging them to squat in their homes. That congresswoman is Marcy Kaptur.

DOBBS: Seething anger tonight at the federal government's utter failure to help homeowners in danger of losing their homes, even as the government is spending literally trillions of dollars to help out banks, investment companies. There were more than three million foreclosure filings last year, a million people foreclosed upon. Now, one lawmaker, Congresswoman Marcy Kaptur says it's time for homeowners to fight back, exercising squatter's rights.

Drew Griffin, of our Special Investigations Unit, with the report.

(BEGIN VIDEOTAPE)

DREW GRIFFIN, CNN SPECIAL INVESTIGATION UNIT CORRESPONDENT (voice over): The notices came to her home in April. Andrea Guice's bank foreclosed on her, behind in payments, out of work, a husband sick, she had nowhere to go.

So she decided to follow the advice of her Congresswoman, and go nowhere. Guice is part of a new movement in the Housing crisis, squatters.

(on camera) For lack of a better term, you're kind of squatting in this house, aren't you?

ANDREA GUICE, FORECLOSED HOMEOWNER: Basically, yes. Yes.

GRIFFIN: Last resort?

GUICE: Last resort, yes. GRIFFIN (voice over): More than 4,000 properties were foreclosed on in Toledo's Lucas County last year. This year, it could be worse. There's a county clerk whose full-time job is typing up and sending out foreclosure notices.

UNIDENTIFIED MALE: Tomorrow morning this will be mailed out.

GRIFFIN: Elected officials are saying Toledo is not in a recession, it is a depression. It is this bleak backdrop that inspired Toledo Congresswoman Marcy Kaptur to take the floor of the House earlier this month to tell her constituents to stay put.

REP. MARCY KAPTUR, (D) OHIO: So I say to the American people, you be squatters in your own homes; don't you leave.

GRIFFIN: Kaptur says she has had it with government bailouts for Wall Street banks, but nothing for homeowners. She is advocating for a legal revolution, a demand that not one of her constituents leaves their home without an attorney and a fight.

(on camera) Even if they've been foreclosed on, don't leave?

KAPTUR: If they've had no legal representation of a high quality, I tell them stay in their homes.

GRIFFIN (voice over): Kaptur is behind a strategy called produced the note. Mortgages have been so divvied up on Wall Street that banks are having a hard time finding that original paperwork, adding a delay to foreclosures.

She is also pushing banks to rework loans, especially those banks getting bailouts and holding mortgages of folks getting tossed out.

KAPTUR: They are vultures. They prey on our property assets. And I guess the reason I'm so adamant on this is because I know property law and its power to protect the individual home owner. And I believe that 99.9 percent of our people have not had good legal representation in this.

GRIFFIN: Without a lawyer, Andrea Guice bought a $147,000 home with nearly $40,000 down.

GUICE: I should have had an attorney. I really should have had the attorney. I did not know.

GRIFFIN: She admits she didn't read the paperwork, didn't learn, until it was too late, she had a sub-prime loan. Her payments of $883 a month jumped in a year to more than $1,500. When it did, she stopped paying.

(on camera) So they foreclosed on you?

GUICE: They have foreclosed on me, yes.

GRIFFIN (voice over): The law firm representing the bank in Guice's foreclosure declined comment t

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OUT2THEBLACK

Friday, January 30, 2009 11:44 PM

'Produce The NOTE' is an 'In YOUR FACE' to the Banksters and their 'derivatives' schemes...

Folk should stand up for themselves , and stand their ground...

It beats the alternative , the Suicide Epidemic :

http://tomdispatch.com/post/print/175027/Tomgram%253A%2520%2520Nick%25
20Turse%252C%2520Desperate%2520Times%2520and%2520Desperate%2520Measures

PIRATENEWS

Saturday, January 31, 2009 2:58 AM

Quote:
Originally posted by out2theblack:
'Produce The NOTE' is an 'In YOUR FACE' to the Banksters and their 'derivatives' schemes...

It only works if the bank got greedy and resold the note. To win, the objection must be made at the correct point in a trial, or the bank is allowed to go find their paperwork and enter it as evidence. Same strategy can be used to win in some traffic ticket trials.

In olden days, it was illegal for S&Ls to resell loans. But Jr Bush and Congress changed that.

Bush Sr, Reagan and Congress legalized Derivative ponsi scams, which were felonies.

PIRATENEWS

Tuesday, February 3, 2009 12:19 AM

Congresswoman Marcie Kaptur tells homeowners to say FU to banksters:
www.brasschecktv.com/page/550.html

DREAMTROVE

Tuesday, February 3, 2009 1:09 AM

The solution to the housing sector's pending crash is "Let it crash" - Dr. Ron Paul