Nuke_engineer wrote:

Quote:

I think that the banks are starting to foreclose because they are betting that in some areas, in a year or two housing will be scarce and they can make a killing off the foreclosed properties, even at cents on the 2005 dollar. That also clears up their past misdeeds by forcing all past MBS investors out of the deal as well.

Doesn't the MBS holder "own" the house after foreclosure?

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Doesn't the MBS holder "own" the house after foreclosure?

That's true in the honest, J6P world of morality, "high finance", fair laws based on English Law and uncorrupted lawyers and politicians.....that just not this country anymore, thanks to "Dancing with the Stars", Apple iPads and handouts for the FSA.

IMHO, the trustee (bankster or bankster associate) will write it off for whatever and the MBS holder takes what they are given or reported by the trustee, and we know how truthful they are based on reports shown here.....

Then the bank (trustee) picks it up, does the "Title Laundering" thing and voila, a new clean asset for sale or rent in what will be an increasingly tight housing (no construction) market in certain parts of the country.

To anticipate and make money against these guys, you have to think just as sleazy as they do...for them, nothing is illegal or impossible as long as they can buy government and the law....

A friend of mine filed the business process patent application late last year, taking all of the options for the state law direction in consideration.

Nuke wrote..

A friend of mine filed the business process patent application late last year, taking all of the options for the state law direction in consideration.

He filed a patent for title laundering?

Yep....I heard that he filed a patent application. I'm sure he didn't use that title, since that came from me. An application doesn't mean he'll get it, but if he does, he can make a mint off the banksters. Isn't that creative and novel? I heard the folks at Legal Zoom loved it. Different claims based on the different possible derivations of the anticipated changes in state title laws by the corrupt political establishment. He's already got VC interested. No response from USPTO yet, but that's not unusual. It may be visible in the PTO applications DB, if on schedule, in the late summer or fall for review once it gets published.

I have heard it is not unusual to file patent applications on anticipated potential legislation.

what tight housing market? What propaganda have you been reading? I doubt we will see one in California, because people are fleeing and illegals don't have any money. Nevada? Maybe in the small cities, but Vegas is another matter. Phoenix? Probably 2017. Texas? DFW spreads out in all directions, no public lands in the way, maybe a river now and then, but the bridges are already there. 3 years ago there was a 5 year supply of lots. They will build faster than people can move in. The 2000-2007 market built twice as many houses as had ever been built in any 8 year period in US history and they weren't going slow before. Household formation? Not in a depression.

This is where the mistake is being made. The depression is ahead of us, not behind us. Bernanke can't any more print wealth than he can print gold. All the while, what he is printing is being taken out of the economy, not put into it. There is an overhang of $20 trillion to $30 trillion in debt in the US and believe it or not, it is worse elsewhere in the world. We are going to find out what kind of bomb China created, as most of the country is nothing but a massive inland empire of bad real estate deals. Look at the recent move in bonds? Is it a blip, is it a recovery, is it inflation or is it credit risk? If it is anything other than a blip, there is going to be hell to pay. The debt market makes the stock market look like a minnow in a pool of great white sharks. Let these bonds go up 3% or so and the market haircut is about 2.75% per year of term. Then we might have capital flight and Bernanke has to eat his zero til 14 words.

Don't forget all the money these Central bankers have put out there is owed. If they bought bonds from the banks, the banks still owe the depositors the money. That hasn't gone away. If the banks are speculating in the stock market, which I believe is the case, once they get on the wrong side of the trade, they are screwed as well. The hands of the bankers, the hands of the politicians, the hands of the Fed will be forced.

evidently,ge,chrysler,gm,and aig did nothing wrong to qualify for a qui tam lawsuit. instead they were the victims that deserved gratuities from the tax payers.

Gee if all we had to do was come up with some hinky mortgages to make millions I bet most of us here could find them

Throw a dart and you're bound to hit one