The never-ending curse of home forclosure: Debt collectors relentlessly pursue

hlat

The Living Force
FOTCM Member
The never-ending curse of home forclosure: Debt collectors relentlessly pursue borrowers for years
http://www.sott.net/article/287289-The-never-ending-curse-of-home-forclosure-Debt-collectors-relentlessly-pursue-borrowers-for-years

Bankruptcy is the answer, yet the article quickly glosses over it as if it were an unfavorable option in the US. Reuters is probably controlled by the people who control the banks, so they have to put down the bankruptcy option.

Also, deficiency judgments do not exist in all states. For example, it does not exist in California with foreclosures when no refinancing is involved.
 
A few of the foreclosures fell in a heap when the judge asked the banks to produce the mortgage documents.
Turns out they were 'sub-prime', and the banks didn't own the mortgage in the first place.
More people should be aware of this.
 
hlat said:
The never-ending curse of home forclosure: Debt collectors relentlessly pursue borrowers for years
http://www.sott.net/article/287289-The-never-ending-curse-of-home-forclosure-Debt-collectors-relentlessly-pursue-borrowers-for-years

Bankruptcy is the answer, yet the article quickly glosses over it as if it were an unfavorable option in the US. Reuters is probably controlled by the people who control the banks, so they have to put down the bankruptcy option.

Also, deficiency judgments do not exist in all states. For example, it does not exist in California with foreclosures when no refinancing is involved.

Sounds to me like you could be just the one to write an article for SOTT on that topic!

I think a lot of people are firmly believe that bankruptcy is like avoiding your debts and not honorable. This is due to programming by psychopaths in power who know that the deck is stacked and the contracts have unethical fine print, and that psychological manipulation is being used on people. I think that when you wake up to these factors, you have to see it as a contract signed under coercion which voids the agreement and you are not only entitled to renege, you are justified in doing so.
 
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