Sometimes, the want to perform what’s legally right and the beliefs of a humanist is a Catch 22.
Case in point:
The Earls (2 parents plus 9 kids), were evicted from their home, bought by real estate investment group on the courthouse steps, remodeled at the expense of an investment group,
Microsoft Office 2007 Pro Plus, sold by the investment group, but somehow, “reclaimed” by the family with the help of their lawyer.
In true “foreclosuregate” fashion, the family is claiming the lenders violated the law, while the new (rightful?) owner claims the family is breaking the law by breaking into his property.
Considering that the Earls were actually foreclosed upon, I’m assuming they fell under hard times and, in all likelihood, their financial “rabbit hole” is fairly deep. However, if they were victims of fraud, bankers (MBS holders) can’t produce the note on their home, or a plethora of other legal hangup possibilities, then perhaps the financial and legal “rabbit hole” for the new owner and respective financial institutions are just as problematic.
I predicted strategic defaults would increase in 2010, but I’m still having some difficulty wrapping my brain around a case where a family could be “legally” evicted, an investor buys the foreclosed property as an investment,
Windows 7 Discount, remodels and successfully sells his/her investment property, but can’t collect because the evictee’s legal team successfully got them back into the property as squatters. For how long is anyone’s guess, but it would imply that a “he said, she said” legal wrangling will accomplish nothing but grinding a substantial percentage of the U.S. real estate market to a (short term?) halt, as well as question the validity of new normal American real estate law.
As Gerald Celente repeatedly says:
When people lose everything and they have nothing left to lose,
Windows 7 64bit, they lose it.
It would appear some people are beginning to lose it, at least, lose it under in semi-constrained fashion by lawyering up and giving the appearance it’s acceptable to break in to their former home,
Office Pro Plus 2007 Key, even though the buyer purchased the home in good faith. (Local police were reportedly on the scene, but did not intervene.)
For me, the scary thing here is, aside from families living on the streets of course, is that a trend emerges where the public no longer has confidence in the legal system,
Microsoft Office 2007 Key, and begins to disregard the fundamental laws of basic American residential property rights. Worse yet, a scaled up version of these accounts gains momentum and anyone who lost their home believes it’s acceptable to give the legal system the finger because they believe it failed them.
Moreover, the long tail fear factor here reaches near unimaginable proportions when you consider just how much balance sheet wealth could evaporate if lenders/banks/mortgage back securities holders can’t provide adequate documentation to prove they own even 0.01% of disputed assets.
From an economic anthropological view, these are certainly extraordinary times in American culture that will likely have long felt repercussions.
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