Top 3 Steps in Fraudclosure – Economic Collapse
Bankers are trying to Stop the Bleeding. The Interstate Recognition of Notarizations Act was approved by the Senate, with a vote by voice.
Mon Oct 18, 2010
Subject: Interstate Recognition of Notarizations Act
Mortgaged Back Securities were invited in the 1980's as a new way to Steal and Profit at our expense.
Somewhere between the MBS and the MERS the " Chain of Title was Broken. " MERS is the Mortgage Electronic Registration System whereby property titles are supposed to be transferred from 1 investor to the next one and so on and so on and so on… MBS notes are organized into RMIC's and organized as risky mortgage notes or less risky mortgage notes.
The original, " wet ink, " Promisory Note is paid off within 1 to 3 days after the borrower signes the mortgage note. The borrowers are not informed of this activity and the Title Companies and the Banks profit on the front end and the back end by using a Lack of Knowledge of the homebuyer against them.
Once the " Chain of Title, " is broken the Mortgage Note is no longer valid. The borrower no longer needs to pay on a Note that doesn't exist any more.
Foreclosure mills are hired by banks to evict homeowners and to take possession of property. Since the " Chain of Title, " has been broken these foreclosure mills fake and forge documents that were lost in the broken chain of title or documents that never existed in the first place.
A Massive Fraud is taking place by the banks and their minions, upon homeowners all over America.
Tags: Ally Financial, Bank of America, Before It's News, Chain of Title, Chris Kitze, DTCC, Foreclosure Fraud, Foreclosure Mills, Fraudclosure, IMF, Interstate Recognition of Notarizations Act, JP Morgan Chase, Mortgage Fraud, Pocket Veto