WSJ - 40 Attorney Generals are Coming out on Weds. 10/13, announcing a JOINT investigation into MERS Foreclosure FRAUD! The paper Spins it has just "paperwork problems" as they ALL do!

The Wall Street Journal has an article out about 40 Attorney Generals will be announcing a Joint Investigation into MERS foreclosure FRAUD on Weds. Oct. 13th. 


The article spins it as simply paperwork "irregularities" as all the MSM does.  The imply the investigation is into the paperwork problems and those will get straightened out.  They ALWAYS Quote the Banks in the articles, here is what they said in this one:

The banks say the document problems are technical—largely the result of papers approved by so-called robo-signers with little review—and don't reflect substantive problems with foreclosures. Still, they have drawn criticism from consumer advocates and state and federal lawmakers.

UUHH....... It is SO MUCH MORE than Paperwork "irregularities"!  It is there the fact there is NO Ownership of the loans, MERS separates the title and deed of property.  Because of NO ownership the servicers are the ones foreclosing on people.  

Now with the article linked - they have the above inserted information THEN the Next two paragraphs are this:

"I think the mortgage-servicing firms need to understand that they face real exposure now, and they would be well advised to take this very seriously, to clean this up by doing loan workouts to keep people in their homes, which up till now they've just paid lip-service to," said Ohio Attorney General Richard Cordray. 

Some in Congress have called for a moratorium on all foreclosures until the documentation issue is resolved, though senior Administration officials Monday again declined to endorse that idea. Servicers that have lied to courts by filing incorrect paperwork "need to suffer the consequences for their irresponsible actions," said Shaun Donovan, the Secretary of the U.S. Department of Housing and Urban Development. But "where we have not found problems with particular servicers…we do have some risk of going too far."

Are you catching that?  The article goes from Discussing Ownership of Loans and paperwork problems TO SERVICERS!  What the article DOES NOT SAY - is SERVICERS HAVE NO RIGHT TO FORECLOSE!  Yet, they Imply Servicers DO have a Right!  Why did they switch to servicers of loans in the article?  So those who are not that familiar with MERS will think servicers do have the control to foreclose on property?

 I have NO DOUBT Servicers WILL BE Calling people saying "We will modify your loan, though you are behind", to REDO the paperwork.  DO NOT MODIFY, NOR REFINANCE RIGHT NOW!  Do not Let them Change your MERS Loan from how it stands right now!

**** Today Show is doing a Segment about the Attorney Generals investigating MERS right now - 7:17am 12th of Oct.***** They are spinning it as robo signing problem Only - also implies stopping of foreclosures would be BAD******