When the big banks embarked on their global securities scam, they divided up each house title into dozens of securities, which the banks them sold to investors worldwide. As a result, no one knows who owns the title to houses that have mortgages.
Now that the mortgage securities market has crashed, banks have no legal claim to houses, but they are stealing millions of houses anyway, because judges, attorneys general, and police departments let them.
However an Atlanta consumer attorney says he has been able to halt a dozen foreclosures using a new ruling from the Georgia Court of Appeals.
The case involves Wells Fargo (a Too-Big-To-Fail bank) and a home in Forsyth County, Georgia. David Stripland built the house with his son, but when the bankers caused the current Depression, they caused Mr. Stripland’s car dealership to fail, and Mr. Stripland’s house to drop in value by more 60 percent.
As with most bank foreclosure scams, Well Fargo cannot prove that it has any claim to Mr. Stripland's house. This is a legal requirement, and yet, most judges let the banks steal whatever houses they want, without documentation. For the Too-Big-To-Fail banks, it is a mad grab, a nationwide free-for-all.
However the Georgia Court of Appeals has ruled that banks must follow the law, like everyone else. Courts must prove that they own houses they want to steal. The court says homeowners have "a right to know" to whom they actually owe the money, lest they be "misled or confused.”
“Even a dog has a right to know who’s kicking him,” says Frank Alexander, law professor at Emory University in Atlanta Georgia.
The Too-Big-To-Fail banks will now appeal to Georgia’s supreme court, so they can continue to steal Americans’ homes.
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Incidentally, for over a century the banks were required to file notices with county tax assessors whenever the banks stole a house, or sold it. Each transfer required banks to pay a fee to the counties.
Therefore in 1997 the big banks created the private Mortgage Electronic Registration Systems, Inc. (MERS) to avoid paying fees to county recorders and tax assessors. MERS supposedly records everything – but doesn’t. MERS has no legal standing to foreclose on any house, but does it anyway, because judges allow it.
In most states these fraudulent “no-doc foreclosures” are absolutely illegal – as is the refusal to pay county fees -- but again, the big banks get away with their crimes because judges allow it. Most judges that deal with property issues are elected to their positions. If they do not support bank theft, then they are politically eliminated by the banks.
It’s the American way. If you don’t like it, then you are a terrorist.
BANKERS STRIKE BACK
In May 2012, Bank of America mounted a lawsuit against attorneys and court trustees who file motions requiring banks to obey the law and provide physical documentation that the banks actually own mortgages on houses that banks want to steal.
One of Bank of America’s targets is Chapter 13 bankruptcy trustee Henry "Hank" Hildebrand of Nashville Tennessee, a court officer who uses the “show-me-the-note” tactic to force banks to provide documentation. Banks cannot do this, since documentation does not exist. Documentation ended when the banks mounted their mortgage securities scam.
Bank of America says that courts in other states (e.g. Arizona Courts in Arizona and Massachusetts) do not require banks to obey the law, and therefore Tennessee has no right require it either.
The state of Maryland’s supreme court supports banker theft, using the rationalization that homeowners must raise the issue of defects in title BEFORE the banks begin their foreclosure-theft.
Thus, homeowners pay on their mortgages for decades, and when a bank wants to steal their home in Maryland, the victims cannot say, “How do we even know you own the title to this house?”
If homeowners try to find out who owns the title (before banks move to steal their homes), the banks present a stone wall. No one knows who owns title to tens of millions of houses – yet the banks steal them anyway.
FUN IN COLORADO
In 2006 the Colorado Bankers Association wrote a law saying they did not have to provide any documentation when they wanted to steal houses. Instead, attorneys merely need to tell the judge, “The bank owns it,” with no proof whatever.
Colorado state legislator Beth McCann filed a bill to correct this (HB 1156), but the bankers killed her bill.
Now a group known as the Campaign to End Unjust Foreclosure has mounted “Initiative 84,” which will require banks to prove they have a right to steal houses. The group has until 8 Aug 2012 to collect 87,100 voter signatures to get the movement on the election ballot for November 2012. As of 3 July 2012 they had 50,000 signatures.
The Colorado Bankers Association, plus the Independent Bankers of Colorado, tried to block Initiative 84 in Colorado’s supreme court, but failed.
Now the bankers will need to convince the people of Colorado to vote it down (which should be easy, given the tendency of average Americans to vote against their own interests).
BACK TO BUSINESS
Marla Sneed is 53-year-old mother of three in Arapahoe County, Colorado. Ms. Sneed had paid off 80 percent of her mortgage (i.e. paid $200,000 on a $250,000 loan) and has no idea who pocketed the cash, since no one knows who owns the title to the house. It is not recorded anywhere in the USA.
When PNC Bank tried to steal her home, Ms. Sneed asked PNC Bank to document that it had a right to take it. Colorado does not require banks to provide any documentation, but when banks across the USA took heat from of their fraudulent foreclosure scams, a district court dismissed PNC bank’s claim against Ms. Sneed’s house.
Six months later, when the heat died down, PNC Bank sent a letter to Ms. Sneed demanding that she pay $42,500 within two weeks (by 16 July 2012) or else the bank would throw Ms. Sneed and her children into the street, and steal her home.
It is not known what happened to Ms. Sneed, since this story was filed on 3 July 2012.
Colorado bankers say Initiative 84 will “dry up the secondary mortgage market," whereby the bankers sell mortgages to larger entities, which then securitize them.
In other words, Initiative 84 would end their scam. Banks say that if they are forced to be honest, then they will collapse.
Even worse, Initiative 84, if voters approve it, would make bankers subject to Colorado’s state Constitution. Essentially the government and the people would have power over the banks. This is not acceptable. Bankers issue the money, and therefore insist that they have a right to conduct business as they see fit. They also have a right to own government and everything else.
Initiative 84 will also require bankers to pay recording fees to county tax assessors.