The Epic Mortgage Fraud
In the financial history of the United States there has always been fraud, deception and deceit in transactions by practically every financial institution. The practices they enforce on the public have been without remorse. For they are the ones who continue to reap financial rewards far beyond the normal realm of expectations. For far too long mortgage brokers and banks have continued to strip away the financial means of millions who seek being in that exclusive club of home ownership.
The deceptive practices of banks, mortgage brokers and Wall Street have for over 100 years been instituting what constitutes as the largest scam created to increase profit margins and shareholder profits. This is done when unsuspecting people obtain and sign the promissory note for a home. Generations of homebuyers have been duped by this continuing practice that banks use when prospecting homebuyers sign that promissory note.
The legality of this common practice has never been called into question until now. Basically, what has and is occurring all across the country is the largest mortgage fraud scam ever devised by man. Under the current system of banking the promissory note that is signed by people applying for a mortgage is actually legal tender. This has been purposely kept from the public when applying for a mortgage.
Now, what banks do is they in turn charge off the full value of the “supposed loan” as being ” accepted for “value” against the persons bonded credit account and then turn around and actually pretend that they, the bank, have actually risked their own money and given the prospecting home buyer a “loan” which is the mortgage. What happens now is that the bank demands repayment for a dept {mortgage} that has already been discharged, plus 30 years of interest and insurance.
Americans have been systematically deprived of most of their recourses and net worth by the frauds perpetrated by the federal government and the self-interested rape by the banks. The truth of this lies when we actually read the microprint embedded in their check book that confirms that their signature is the Authorizing” signature that banks consider then the “banker as recorded in the Title 12 of the Federal Code and to {mis} use their authority to both create the debt credit and the debt discharge. This is a process known as “twinning” which is illegal but left to be practiced without oversight or audit by the Federal Government or the Federal reserve.
We the unsuspecting home buyer continue to pay for a mortgage that has already been paid for and discharged when we signed that promissory note. We have been led to believe that current procedure that banks and mortgage brokers use is ethical when it turns out to be one of the biggest scams perpetrated by every financial institution that issues mortgages.
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I think there are massive amounts of lenders and realtors rethinking their career choice at this point.