CNBC Mortgage Meltdown

Homeowner Dan Edstrom spent one year trying to find out who owned his mortgage. He describes his quest to CNBC’s Michelle Caruso-Cabrera.

Homeowner Dan Edstrom spent one year trying to find out who owned his mortgage. He describes his quest to CNBC’s Michelle Caruso-Cabrera.

source http://cnbc.com

Author: dmedstrom

Reverse Engineering and Failure Analysis
– Reverse Engineering Wall Street

2 thoughts on “CNBC Mortgage Meltdown”

  1. Dan did an EXCELLENT Job. What Michelle is NOT getting is that if the banks FAIL to RECORD the documents lawfully the homeowner should NOT be obligated to pay under current law. In my case, after being in litigation in several courts since 2006 (that’s right 2006 NOT 2008) it has been discovered my mortgage was NOT lawfully assigned to ANY entity. My mortgage is paid in full. Yet other banks simply unlawfully filed fradulent documents and made claim to the mortgage. Bottom line, after you pay your mortgage off Michelle, the bank may STILL foreclose on you simply because it is EASIER to forclose than to find your note. AND don’t forget, if they FORECLOSE on you, they take insurance against your note up to 10 times the FACE value of the note,. This is why it is more lucrucative to foreclose than to keep a homeowner in their home. This is WHY BANK over appraised property and then forced consumers into default. Example: I steal your car. I get caught stealing it, red handed, forged title everything. But the Courts determine YOU have to pay me, based on fraudulent documents regardless of the magnitude of my crime. This is what many americans suffer at the hands of the banks. If you ain’t livin it, you have absolutely NO idea how unfair and difficult it is to make it under these conditions.

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