Delaware AG Beau Biden: Fighting Fraudclosure
October 28, 2011
Dylan Ratigan has been a powerful journalist in the investigative media exposing the frauds and government mismanagement of the Wall Street Ponzi scheme that lead to the worldwide financial collapse. Delaware AG Beau Biden is the most recent of attorneys general to file a lawsuit on behalf of the homeowners in Massachusetts against MERSCORP, Inc. Ratigan’s interview with AG Biden identifies the significant issues that ALL attorneys general (including Hawaii) should be considering.
CLICK HERE for the interview.
Delaware Attorney General Beau Biden sued the private national mortgage registry MERS, alleging a slew of deceptive trade practices that prevent homeowners from staving off foreclosure.
Ratigan: “Well, Washington’s not working, and neither are 30 million Americans. millions more Americans have either lost their homes or risk of foreclosure, and many are simply trapped in homes that prevent them from being able to start anew or expand in a new entrepreneurial way because they are stuck in a trapped housing market. Fraudulent actions abound, none of them or a few of them investigated. Mortgage companies at the center of many of them.
And as we know, a group of state attorneys general are fighting back on a group of constituents in their state, even where washington at this point has failed to do so. delaware attorney general Beau Biden, for instance, this week filing a lawsuit — and this is instant — against what is called the private national mortgage registry, which probably doesn’t excite you that much. It also is called MERS, but this is the business that is owned and funded by the large banks that processes, as you can see, 60% of the mortgages in the United States. That is the recordkeeping payment collection mechanism and the lawsuit alleges that this recordkeeping and payment collection mechanism deceived borrows by cutting corners and breaking their own rules related not only to the foreclosure process, but to the customer service process in general. And back with us again is Delaware attorney general, Beau Biden. and if you wouldn’t mind, sir, give us a sense of what precisely it is the lawsuit you filed is seeking to pursue.”
By DEADLY CLEAR
Is your mortgage really in default? Maybe not. Your loan may have been paid by Credit Default Swaps (CDS) several times over. If you are not sure what CDS are or how they affect your promissory note, watch for the next DEADLY CLEAR post to learn more about the
insurance-like product that paid off the notes. As in any murder mystery – “follow the money”
…Your loan may be currently paid – and it doesn’t matter who may be paying it.
We have a lot to learn. More to come.