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Foreclosure Fraud – It Gets Deeper

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Source: Rebel Traders

The old expression “just the tip of the iceberg” applies to what is growing rapidly into what we are finally hearing in the media of the fraud the banks have been covering up when it comes to the chain of title and other documentation related to mortgages.

Over the past several weeks we have learned that certain banks have attempted to foreclose on properties that they did not even have clear legal authority to do so. Why? Because at the height of the housing bubble these banks were securtizing the loans and selling them every which way they could, often leaving the proper paper trail in ruins.

The unwinding of the entire housing market bubble is revealing the short cuts, fraud, and outright deception that banks and other financial institutions have undertaken throughout the bubble. And as more and more homes are being foreclosed so to is the discovery that the banks are attempting foreclosures on properties that they don’t even own the title to. And worse yet is that the real holder of the title/deed is not even known without a forensic analysis. And I suspect some can never be traced at all.

Karl Denninger from the Market-Ticker has been covering the foreclosure fraud in great detail and today made an appearance on the Dylan Ratigan show.

(The link to the article mentioned in the video clip is HERE)

It is disgusting that in America we would have such prevelent fraud being brough upon the taxpayer. This kind of activity would not surprise me if this was being reported during the hard communist era of the Soviet Union. But here in America we, the taxpayers and home owners, are being played by the banks and financial institutions that we bailed out.

And the government is just playing along because they ‘know’ what the unraveling of the truth would do.

Foreclosure Fraud – It Gets Deeper is a post from: Rebel Traders – Stock Market and Economic Analysis

Read more at Rebel Traders


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