26% of home mortgage defaults are 'strategic'

[ax]

Re: 26% of home mortgage defaults are 'strategic'

I already have.

Im in the process of preparing a legal defense in preparation for a civil and criminal lawsuit that I plan on filing against everyone involved in my entire mortgage process. I can already prove fraud/collusion/conflicts of interest in every part of the application, all the while deceiving me during the whole process. Currently, I am the only one who has paid anything for my home (some 50k already), so I certainly have a vested interest in the property before anyone else.

If you don't fight for what's right, then you don't deserve to be a citizen of the United States IMO.

I'm in on the class action ricket, good luck.

[ricket]

Re: 26% of home mortgage defaults are 'strategic'

How exactly are you pursuing a criminal lawsuit?

By reporting the crime to the local sheriff. Perhaps "criminal lawsuit" was a bad choice of words, but you get the idea ;)

[swgprop]

Re: 26% of home mortgage defaults are 'strategic'

By reporting the crime to the local sheriff. Perhaps "criminal lawsuit" was a bad choice of words, but you get the idea ;)

I wish you the best of luck but you'll find your local sheriff ill-equipped to handle mortgage fraud.

The FBI is better equipped, but they've shifted so many resources to handle "homeland security" issues that they are understaffed in the financial crimes area. Though they have made recent announcements regarding task forces and "crackdowns" on mortgage fraud, the dollar threshold is somewhere in the neighborhood of $1million+ I believe.

[MulaMan]

Re: 26% of home mortgage defaults are 'strategic'

I am considering fleeing CA.

but they are not building anymore land and CA real estate always goes up.

Low house prices in relation to wages are good for Americans and the real economy.

All this constant news media about "falling prices...very bad" makes me crazy - let prices fall, fall, fall - every American can then afford to own a home and not be a home debtor to wall-street.

Onward Deflation! Onward! Onward!

[Chomsky]

Re: 26% of home mortgage defaults are 'strategic'

but they are not building anymore land and CA real estate always goes up.

Low house prices in relation to wages are good for Americans and the real economy.

All this constant news media about "falling prices...very bad" makes me crazy - let prices fall, fall, fall - every American can then afford to own a home and not be a home debtor to wall-street.

Onward Deflation! Onward! Onward!

Er. Homeownership for years has been around 65-67%, and got up to about 72% during the Great Bubble. You're not going to see too many mainstream stories on just how wonderfully affordable real estate is for the common citizen. They already own property and are crashing with the RE market.

[cjppjc]

Re: 26% of home mortgage defaults are 'strategic'

I would surprised if you could find any instance of a bank comming after someone after a short sale/forclosure. It is a scare tactic only.

[ricket]

Re: 26% of home mortgage defaults are 'strategic'

I wish you the best of luck but you'll find your local sheriff ill-equipped to handle mortgage fraud.

I agree, but the FBI isnt the one who enforces an eviction notice.

There's plenty of instances where Sheriff's offices are refusing to evict homeowners facing foreclosure. If I can demonstrate to the Sheriff that he is breaking the law by evicting me, then since he is in law enforcement, he should refuse to do so.