Fraudulent Foreclosures

Click on the post title for the New York Times article.

Financing giants JPMorgan Chase and GMAC "robo-signed" thousands of foreclosure documents without personal knowledge of the facts. This calls into question the legality of many previous foreclosures and clouds the titles on subsequently purchased foreclosed properties.

Surprise, surprise. The esoteric financial instruments into which mortgages were bundled and sold and rebundled and resold makes finding the mortgage paperwork almost impossible. This is probably the reason so many lenders have adamantly refused to renegotiate mortgages that are in danger of foreclosure. They have no idea how to proceed! This has not, however, deterred them from initiating foreclosure proceedings, which they confidently processed without doing the arduous homework.

Ugly, ugly example how today's super-corporations conduct business. Make no mistake, to them we are not considered customers, we are "marks."

Perhaps it's not perjury unless you get caught?