Bank foreclosure cover seen in bill at Obama’s desk.

[Ponce]

This means that the burden of proof is now on your shoulders and not on that of the banks.

--------------------------------------------------------------------------------
Bank foreclosure cover seen in bill at Obama’s desk.

By Reuters
Thursday, October 7th, 2010 -- 5:03 am


WASHINGTON (Reuters) - A bill that homeowners advocates warn will make it more difficult to challenge improper foreclosure attempts by big mortgage processors is awaiting President Barack Obama's signature after it quietly zoomed through the Senate last week.

The bill, passed without public debate in a way that even surprised its main sponsor, Republican Representative Robert Aderholt, requires courts to accept as valid document notarizations made out of state, making it harder to challenge the authenticity of foreclosure and other legal documents.

The timing raised eyebrows, coming during a rising furor over improper affidavits and other filings in foreclosure actions by large mortgage processors such as GMAC, JPMorgan and Bank of America.

Questions about improper notarizations have figured prominently in challenges to the validity of these court documents, and led to widespread halts of foreclosure proceedings.

The legislation could protect bank and mortgage processors from liability for false or improperly prepared documents.

REST OF STORY HERE-->http://www.rawstory.com/rs/2010/10/bank-foreclosure-cover-bill-obamas-desk/

[Cebu_4_2]

more towards interstate notarization, they are still VERY screwed.

[chad]

he vetoed it about 5 minutes ago.

[7th trump]

he vetoed it about 5 minutes ago.

Probably vetoed it because it needed a bit more banker bailout legislation added.

[basplaer]

he vetoed it about 5 minutes ago.


So the puppeteer sneezed and pulled the wrong string today. I'm sure this will be quietly tacked on to the tax legislation or budget continuation in a month and a half.

[chad]

ha!

[ximmy]

he vetoed it about 5 minutes ago.

Probably vetoed it because it needed a bit more banker bailout legislation added.


without a doubt... it will return with more banker favor... and he will sign... also it was on his desk as a show to placate obama lovers...

[undgrd]

http://www.reuters.com/article/idUSTRE6963DJ20101007

"President Barack Obama will not sign legislation that could have made it more difficult for homeowners to challenge unjustified foreclosure actions, the White House said on Thursday."

[Twisted Titan]

he vetoed it about 5 minutes ago.


So the puppeteer sneezed and pulled the wrong string today. I'm sure this will be quietly tacked on to the tax legislation or budget continuation in a month and a half.


Not even that long


And idiots wont even put two and two together that every legislator voted unanimous is favor of it.

who needs diebold when you have nutcases like that?


T

[Ponce]

As long as "they" are in controll of our monetary system it will come back in one form or another......he who controls the money controls the law.

[Horn]

Well if nobody pays, then nobody pays.

We'll all just revert back to seashells.

[cedarchopper]

Watch the other hand...there is no way that finance and the shadow banking system (derivatives) get left holding the bag. If it does happen, it was part of the plan. Government will just take over 'ownership' of all the mortgages and the idea of private property will become a memory. Freddie and Fannie will become rent service agency's.

[Ash_Williams]

Why would he sign this? He's be against people paying their mortgage from the start.
He'd prefer people break the contracts that they agreed to, and then the banks lose money and get bailed out, so that people who don't break their contracts can get taxed to pay for people who do. It's part of his war on personal responsibility.

[Horn]

Government will just take over 'ownership' of all the mortgages and the idea of private property will become a memory. Freddie and Fannie will become rent service agency's.


You know its bad when the repo/repair/cleaning service dude working for bank foreclosures is the most successful guy on the block.

I'm serious, the guy added two vehicles over the past 18 months.

What a dick the guy is though, but he's like the only neighbor that sets foot out of his house.

[Horn]

Why would he sign this? He's be against people paying their mortgage from the start.
He'd prefer people break the contracts that they agreed to, and then the banks lose money and get bailed out, so that people who don't break their contracts can get taxed to pay for people who do. It's part of his war on personal responsibility.




Far as I know, that already happened?

But they f'ed up with the dough.

[Ponce]

Could it end up like in Cuba?.....back in 1963 Castro froze all private properties.....where you lived is where you stayed, no matter if you were the owner or were renting.......that was for ALL properties which include apartments.......... this one guy was the caretaker of this place that had 12 rooms, 14 bathrooms and so on and by him being there it then bacame his.....well, it actually belonged to the state but it was his to stay in for good.............by the way, no property taxes.

[Horn]

Could it end up like in Cuba?.....back in 1963 Castro froze all private properties.....where you lived is where you stayed, no matter if you were the owner or were renting.......that was for ALL properties which include apartments.......... this one guy was the caretaker of this place that had 12 rooms, 14 bathrooms and so on and by him being there it then bacame his.....well, it actually belonged to the state but it was his to stay in for good.............by the way, no property taxes.


Leave it to Ponce to declare total Red victory. :-*

[Ponce]

Horn? is not a matter of "who" is in control but rather what they "do" while in control.

You have seen what is going on in what is supposed to be a "free" nation.......

[Horn]

Horn? is not a matter of "who" is in control but rather what they "do" while in control.


Yeah, and buy the results shown here its the ninth inning & they're out of relief pitchers.

Can Cuban's throw better baseballs than the Yankees? ;D

[Ponce]

Yes

[Horn]

Yes


Probably a good thing in this case, being one of the Yankees. ;D

[Neuro]

Why would he sign this? He's be against people paying their mortgage from the start.
He'd prefer people break the contracts that they agreed to, and then the banks lose money and get bailed out, so that people who don't break their contracts can get taxed to pay for people who do. It's part of his war on personal responsibility.


How about business responsibility, if you have a contract with a person, you don't think that the business should be obliged to keep that contract in good condition? The banks were so busy selling on the mortgage to another bank that were so busy to repackage it to bond investors who were fooled by triple A-ratings on junk, that no-one even bothered to ask for the contract... How would you feel if a bank comes and foreclose on your house, that you have paid off, and they claim that you have mortgage on it that you didn't pay, and they don't even need to prove that they have a contract.