Mortgage

Fraud By Mortgage Companies Key Cause of Foreclosures | Jabar Post Indonesia

Fraud By Mortgage Companies Key Cause of Foreclosures | Jabar Post Indonesia/a> – This time JabarPost.Net will discuss about Mortgage.

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Fraud By Mortgage Companies Key Cause of Foreclosures | Jabar Post Indonesia

A mortgage loan or, simply, mortgage (/ˈmɔːrɡɪdʒ/) is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose, while putting a lien on the property being mortgaged. The loan is “secured” on the borrower’s property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (“foreclosure” or “repossession”) to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning “death pledge” and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.[1] A mortgage can also be described as “a borrower giving consideration in the form of a collateral for a benefit (loan)”.

Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property (for example, their own business premises, residential property let to tenants, or an investment portfolio). The lender will typically be a financial institution, such as a bank, credit union or building society, depending on the country concerned, and the loan arrangements can be made either directly or indirectly through intermediaries. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, and other characteristics can vary considerably. The lender’s rights over the secured property take priority over the borrower’s other creditors, which means that if the borrower becomes bankrupt or insolvent, the other creditors will only be repaid the debts owed to them from a sale of the secured property if the mortgage lender is repaid in full first.

In many jurisdictions, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to enable them to purchase property outright. In countries where the demand for home ownership is highest, strong domestic markets for mortgages have developed. Mortgages can either be funded through the banking sector (that is, through short-term deposits) or through the capital markets through a process called “securitization”, which converts pools of mortgages into fungible bonds that can be sold to investors in small denominations.



http://www.consumerwarningnetwork.com/2009/05/11/fraud-by-mortgage-companies-key-cause-of-foreclosures/

Figuring out just how much junk major banks have on the books was a goal of the federal governments just released stress test for the 19 major banks receiving federal bail-out dollars. Theres still no clear answer, but we continue to see more evidence that a high percentage of sub-prime mortgages were steeped in fraud and have a high probability of failure.

The American News Project just released the video above which reports fraud carried out by employees of major sub-prime lenders, like Ameriquest, was a key factor in the mortgage meltdown. Consumer Warning Network first reported our findings on this very issue more than a year ago, and is cited in the ANP report. ANP reporter Lagan Sebert talks with a former Ameriquest employee who says her company promoted a system rife with fraud as a way to make profits faster.

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5 Comments

  1. Ronald Arnall is a pawn for Rockefeller, Rothschild, and their network of political thinktanks & organizations pushing for the centralization of the global financial industry.

    Ordo Ab Chao – Problem Reaction Solution – Look up David Rockefeller and the Round Table groups and see the bigger picture behind this engineered crisis.

    Coincidentally, the royal family of the Netherlands happens to be connected to them as well.

  2. The fiat money belongs to the game, it was never yours. You became a player in the game with your birth certificate. It created your person (a legal fiction) Everything your person owns the game actually owns.
    You Have a person, your Not a person. You must know this to play the game better!

  3. @eyewitness043 There is a mastermind behind these "foreclosure crisises" who cannot and will not stop. Just a bunch of crooks who are above the law but are they? I am trustor of the real estate division of the Bank of America BUT the State of Arizona Janet Napolitano colluded with the mastermind who made the estate of Honey R. Siegal deceased. Why were the leases manipulated to include insurance for acts of terrorism in the world trade center 911 controlled demolitions? It is all linked to Obama

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