Supporting, Informing & Connecting People in Foreclosure
I have been laboring under a sort of warning signal to stay quiet and under the radar, but I am emerging now and expect to be a pain in the you know what to a lot of people who are still winning this war of good and evil. I see the mantra of the "deadbeat" property borrower as the final justification for grabbing the home and kicking out the family, with no compunctions because "they did not make the payments, did they" This is in the minds of most judges, many spectators, all plaintiff counsel and a host of other uninformed voyeurs of this ongoing tragedy of a nation's wealth snatched out from under the eyes of a sleeping guard- our government. Or, maybe the snatcher is the government. Snatcher in the rye- has a nice ring to it!!
So, recognizing the enemy is the first clue to defeating it. Let's look long and hard at insurance policies obtained by the trustees, servicers, brokers, etc. etc. to guarantee the quality of those RMBS sold to investors. The insurance policies were not really meant to cover a risk of loss, they were to enhance the saleability of the certificates. But, they did the job indeed!!
It is not easy to see clearly the maze of insurance jargon such as subrogation, subrogee, indemnify, and the like. I am reviewing some federal suits against B of A,JPMorgan, C-wide, etc. to see if I can get a handle on the basics. Then I will increase the ammunition to find the answers to the smugness of the movers and shakers who don't seem in the least suffering from any of the mess which is killing the 99%.
More later but if anyone can add to the small pile of third party research, I will be most grateful. Thanks and hang in there!! Deadbeats unite!! I wish to show my support of the 99% who are so brave too!!