Every day I hear more stories about alleged corruption in the courts, not only when it comes to foreclosures, but also bankruptcy – especially when families are trying to protect their homes. It is more than obvious that the system is flawed.
Judges are not necessarily adept, specifically educated or predisposed to this new form of securitization…these quasi-securities called NTMs (nontraditional mortgages). Nor are they willing to risk their investment portfolios and mutual funds to protect the average citizens in America. Continue reading →
Bankruptcy, like foreclosure, has become a production business. While nontraditional mortgage loans (NTMs) and foreclosures are the products of a patented scheme, bankruptcy is more of a legislated racket. Bankruptcy and foreclosure structures have attorney “mills” operating as a business by shuffling humans througha cattle car-like process, both systems personally affect the individuals and their families – and both are tragedies.
The reason for the comparison is although they both have federal oversight in common – only one has a tough and powerful specialized court system. Even with a tough bankruptcy court, evil shysters and psychotic scammers materialize to pick every last morsel off of the carcass. [There is comfort in knowing Karma is never late]. Continue reading →