Oct 05, 2010

http://jsmineset.com/2010/10/04/could-foreclosure-fraud-cause-another-banking-meltdown/

"After physical paperwork was filled out and signed by the borrower, the banks electronically filed the paperwork into a computerized system called the “Mortgage Electronic Registry System” (MERS).   According to Congressman Grayson, 60%, or 60 million, mortgages are in MERS.  The banks lost track of the original paperwork, the note, signed by the borrower.  That is what actually proves the bank owns the property."

This article is astounding. I have known about this for about two years, but I am surprised that the news is finally hitting the mainstream media.

What they have yet to point out is the fact that the banks did not really loan you any of their money to buy a house. When you signed this missing paperwork, they used your signature to create money out of nothing. That is called "monetizing your signature." It was YOUR signature that created the money, and then the banks charge you interest to make money off of your signature. The money to buy the home was created out of nothing and so the mortgages should not have to be paid at all. It looks like God is finally exposing their system for what it is--legalized fraud.

Jubilee, anyone?