It’s time for the foreclosure defense arguments to evolve. These contracts are not traditional mortgages. They are, and continue to be, securities transactions without any disclosure to homeowners. Secreted securitization is bad enough; however, hidden rehypothecation, not only from the homeowners but also the courts, is a process of wiping out our national land records and title system – an unprecedented destruction of our liberty.
Banks now want to split the mortgage and wait 20 years until the original contracts become due – so they can assert foreclosure on the property (the securities transaction) while all along risking the collateral in rehypothecation deals. A scheme where they continue to rack up debt with other people’s assets.
Now is the time to put an end to the misery of these disingenuous contracts. They were more than mutual mistake – they were frauds upon the America taxpayers, shareholders and homeowners.
If you are asking yourself ‘why are judges ruling against homeowners when they know the banks scammed them?’ Then you need to understand a judge’s most basic insight into the human condition is that it is impossible to con an honest man.* It is larceny lurking in the soul of its victim that is preyed upon. What does that mean?
The mortgage deals were too good to be true – but the homeowners believed it to be the truth… because they wanted it to be and it all boils down to making “easy” M-O-N-E-Y.
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