Ever wonder how the real estate boom and bust occurred? Why is the foreclosure process such a mess and causing problems across the country?
The system was set up for failure.
Watch all four videos of the deposition of Crystal Moore, alleged robosigner of Nationwide Title Clearing. The deposition was taken by attorney Christopher Forrest of The Forrest Law Firm.
The main issue is not the actions of a few low-level employees but the system created by those in power.
Part 1
Part 2
Part 3
Part 4
Again, this is not about the people performing the tasks on a daily basis — they were NOT the ones in power or control. They were just following orders from above.
The global financial crisis forces us to ask many questions that we previously didn’t bother to think about.
Who issues our currency?
What’s the difference between debt-free money and debt-based money?
Why must credit grow in order for the economy to grow?
Can the U.S. Government debt ever be repaid?
Bill Still warned the world about the dangers of our debt-based monetary system with his classic video The Money Masters.
Now he has created an updated video called The Secret of Oz that directly addresses the financial collapse now that his predictions have come true. Our current system is based upon ever increasing debt that someday will become un-payable and the financial system will collapse when this occurs (like what happened to Iceland).
One of my favorite quotes:
“What can government do? The sad answer is under our current monetary system, nothing. It’s not going to get any better under the current system until the root cause of the problem is understood and addressed.”
“Taking the law into their own hands” is a phrase used to describe aggressive actions by people who feel slighted in such a way that waiting for traditional law enforcement isn’t acceptable.
Due to the massive foreclosure fraud (called “Foreclosure Gate”) perpetrated by the big banks, some Americans are fighting back.
Jim and Danielle Earl in Simi Valley, CA broke into their former home that was sold at trustee sale auction to a professional flipping company. The Earl family, with their attorney, Michael Pines, seized the home after the investment company fixed it up and were about to sell it to new owners. The police were there but did nothing to stop the theft of the home by the Earls.
How is this not breaking and entering?
The logical consequence of the banks’ blatantly breaking the law (see Systemic Foreclosure Fraud by Lenders) is that average citizens will fight back and take the law into their own hands.
Do we really want civil unrest? Can the government do anything to fix this quickly? Do two wrongs make a right…or just more wrongs? Share your opinion on this situation in the comments below.
Conejo Capital Partners, the company that bought the home at trustee auction tell their story here: 5893 Mustang
So, does anyone still believe that cheap credit and easy money from the Federal Reserve after the Dot Com Crash was a good thing?
More About Families Stealing Back Foreclosed Homes
By now we’ve all heard or read stories about disillusioned home owners (home debtors really) who haven’t made their loan payments in quite a while but feel that everything will work itself out. They may be working on a loan mod, short sale, principal reduction, or just the “free rent” program.
What tragic commentary on the situation we’ve created! The credit bubble bursting made 25% of home loans under water and foreclosure a likely outcome. There will be a whole generation of home owners and their children scarred by this experience just like the Great Depression.
Realtor – “My name is Randy and I am a local Realtor…”
Homeowner – “Oh yes, I am quite aware that many of you low-life blood sucking vultures…”
…”but we are in the middle of a loan modification so we are just FINE!”
“I don’t mind at all you blood sucking vampire…we are behind 17 payments just like the rest of our social climbing friends.”
Realtor – “It appears I am too late, and you will keep your head buried in the sand because you actually believe you are going to get your loan modification…”
