Supporting, Informing & Connecting People in Foreclosure

Secret Service call I received today

An agent from the Secret service of the United States called me today about a home I lost abit over two years ago. He mentioned a company called Dana Capital. It is going to start getting interesting to see what this may bring

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Comment by Incognito123 on July 16, 2011 at 10:17pm: Dan JS, interesting thought - money laundering. Hmmmm, very interesting indeed!!! If wrong, it certainly is treading water very close to that, and if correct, that opens a whole new can of worms!!!

Comment by Dan JS on July 15, 2011 at 11:44pm: Maybe...

I'm beginning to wonder if there aren't additional underlying factors involved in this massive mortgage fraud.... namely money laundering, and reestablishing bank liquidity.

The banks "Free houses" must be "titled" to the banks (through foreclosure) then sold (else a liquidity problem stifles the banks ongoing ability to make money... Foreclosed residential real estate must be quickly "sellable"... at "substantial discounts".

Money laundering?....Europeans, because the Euro is so strong against the US Dollar... see low-priced "Real Estate Owned" (REO) / "Other Real Estate" (ORE) residential properties owned by banks as potential "sweet deals."

Most Europeans are not keeping up with the under-reported Fraudclosure... and the associated "problems," like clouded titles. They are looking for "good investments" where they can take advantage of the favorable Euro/Dollar ratio. "Homes Abroad" or "Real Estate Rental Properties" in America are attractive to them.

"Savvy," motivated real estate agents may see no real issues to "making money in a down market"... as long as they skirt their fiduciary responsibilities of informing the buyers/sellers of the liabilities of selling/buying real estate with clouded title. All they have to do is be sure the "down payments" do not break the Anti-Money Laundering limits that will trigger investigations. Is that level for reportable transfers and deposit of cash or equivalents $10,000 ?

The banks, meanwhile, clear out their REO/ORE properties, wash their hands of the "stink," and rings up the Federal Reserve (Fed) to let them know they are now in a position to receive to go-ahead (because their reserves are improved) to further benefit from the "Fractional Banking" systemology.

Secret Service.... Money Laundering... National Security? What next?