12-12-2010, 02:28 PM
You know, this MERS scandal is all very real and people are having a great time writing it up, but if you follow the forums where people try to get help with foreclosure, which I did for a bit until it got too depressing -- very few people end up being helped by the bank's inability to produce a note.
A whole industry has sprung up convincing homeowners that they can spit in the banks' faces and get out of foreclosure. It's like the scammers who were working for banks got out of that industry and set up shop scamming consumers in the "pay us to save you home" industry.
Offering forensic audits, MERS defenses, negotiations for programs that consumers are entitled to use and can use without an attorney or a special rep. Very few judges are standing up to the banks so far. You hear these stories of judges invalidating the mortgage, but for every story, how many homes are foreclosed? Thousands.
But then I'm in a very cynical frame of mind about all this.
A whole industry has sprung up convincing homeowners that they can spit in the banks' faces and get out of foreclosure. It's like the scammers who were working for banks got out of that industry and set up shop scamming consumers in the "pay us to save you home" industry.
Offering forensic audits, MERS defenses, negotiations for programs that consumers are entitled to use and can use without an attorney or a special rep. Very few judges are standing up to the banks so far. You hear these stories of judges invalidating the mortgage, but for every story, how many homes are foreclosed? Thousands.
But then I'm in a very cynical frame of mind about all this.