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"It's NOT just about debt in America, it is about the FRAUD, causing the debt!"
Couldn't agree more.....those mortgage contracts are also adhesion contracts, all written to profit and benefit one party at the cost of the other, and not really 'mutually beneficial' anymore. The 'fraud' begins with that first 'contract,' as 'consensual' and yet written so that the average American cannot understand it, and continues with riders, loan rates, further 'adhesion' contracts such as HOAs, etc. Have you ever been able to 'bargain' with a mortgage company or bank over the mortgage terms, other than obtain maybe a l/2 percent reduction in a loan rate?
The idea is to keep you in bondage and servitude, not to extend credit upon reasonable rates and terms, in order to finance a purchase that can be eventually paid off and extinguished, or use your sweat and equity to get a better deal for their employees, the collection and foreclosure attorneys, upon it's seizure.
It's not about helping Americans invest in America and obtain the American dream, and in so doing, their own and America's economy, -it's about their own individual corporate bottom lines, and how they can get the most bang for their buck come hook or crook.
Those credit card and mortgage loan terms today would make the mafia blush, with 'collectors' now wearing suits and using a pen, rather than a baseball bat when 'servicing' these loans.
For those who are still out there buying homes, ask to at least get a copy of the loan documents after the pre-qualifying process to review, and watch those loan officers stall and squirm, and ask if there are any negotiable provisions, with the exception of the closing date and some of the settlement costs, within them. Bet the answer is 'no.'
The fraud actually begins with the mortage documents and their 'unequal' provisions themselves. Non-judicial foreclosure provisions contrary to Constitutional intent and provision are non-negotiable, and this 'fraud upon the public' started with the unconstitutional passage of the Federal Reserve Act and UCC provisions, and then brainwashing of this fraud upon the public and American people ever since, so much so that few even question those 'adhesive' provisions, nor the mandatory insurance provisions on many homes now which are nearing payoff in which the value of the land now exceeds the loan amounts remaining due.
And the 'public trust' in most of the institutions such as banking, law and the real estate professionals, enables this fraud to continue, even though it is quite obvious now that those working within these industries are also victims of their own 'corporate' machineries.
Posted Feb 2 2008 2:25AM CET
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Username withheld
Phoenix, Arizona |
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