Another layer in the housing bail-out

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Canceled2

Banned
The next layer in the housing bail out? Title insurance policies. With so many foreclosures- the Obama administration was helping banks, intentionally or unintentionally, to hide another dirty little secret that could prove the complete unraveling of those "bundled mortages" the inability to show "clear title".

Saving homes from foreclosure (obamas home bail out) help banks hide the fact that they can't determine clear title on a number of homes. Already law suits by home owners are mounting.

One story on the problem
 
Ice Dancer said:
The next layer in the housing bail out? Title insurance policies. With so many foreclosures- the Obama administration was helping banks, intentionally or unintentionally, to hide another dirty little secret that could prove the complete unraveling of those "bundled mortages" the inability to show "clear title".

Saving homes from foreclosure (obamas home bail out) help banks hide the fact that they can't determine clear title on a number of homes. Already law suits by home owners are mounting.

One story on the problem
Click to expand...


What is it that Obama did to help banks hide their inability to show clear title? I'm not sure I follow you on this.

If the Administration really wanted to bail out the banks on this it would have used TARP to buy the "troubled assets." If the government did that, the problems arising from lack of clear title and fraudulent paperwork would be the government's problem, not the bank's.
 
NigelTufnel said:
What is it that Obama did to help banks hide their inability to show clear title? I'm not sure I follow you on this.

If the Administration really wanted to bail out the banks on this it would have used TARP to buy the "troubled assets." If the government did that, the problems arising from lack of clear title and fraudulent paperwork would be the government's problem, not the bank's.
Click to expand...

That's right, by instead giving money to banks to bail out homeowners from forclosure the real trouble with clear title could be avoided.
 
Ice Dancer said:
That's right, by instead giving money to banks to bail out homeowners from forclosure the real trouble with clear title could be avoided.
Click to expand...


I'm still not following you. Let's start with the first part. What did Obama do to allow banks to hide the problems with title?
 
You still aren't making any sense. The interesting thing will be what happens when this shit starts to threaten the banksters as opposed to just being a drag on the economy more generally (the market, to date, doesn't give a shit about this). By then, the Republicans will at least control the House. It'll be interesting to see what they do.
 
NigelTufnel said:
You still aren't making any sense. The interesting thing will be what happens when this shit starts to threaten the banksters as opposed to just being a drag on the economy more generally (the market, to date, doesn't give a shit about this). By then, the Republicans will at least control the House. It'll be interesting to see what they do.
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I can't help it if you don't understand how bail-outs to home owners via banks prevents a need for finding clear title and how forclosures being resold opens up the need.

This is poised to be an ever bigger devastation to the housing market then the reccession has been.
 
Ice Dancer said:
I can't help it if you don't understand how bail-outs to home owners via banks prevents a need for finding clear title and how forclosures being resold opens up the need.
Click to expand...

I'm really trying to understand your point here, but the above is just gibberish.


Ice Dancer said:
This is poised to be an ever bigger devastation to the housing market then the reccession has been.
Click to expand...

What is "this" that you are referring to? Foreclosures? Lack of clear documentation?

I'm not trying to be disagreeable or even to disagree with you. I genuinely trying to figure out what you are saying.
 
NigelTufnel said:
I'm really trying to understand your point here, but the above is just gibberish.

What is "this" that you are referring to? Foreclosures? Lack of clear documentation?

I'm not trying to be disagreeable or even to disagree with you. I genuinely trying to figure out what you are saying.
Click to expand...

Well your either lacking mental ability or are being purposefully obtuse...or you have never bought a home. Perhaps after readsing the link you are just ...oh wait maybe you didn't read the link???

Do you know what title insurance is?

Do you understand that when purchasing a home and especially a foreclosed home the lender is required to make certain there is clear title on the home? That to insure this happens a buyer needs to purchase title insurance to protect themsleves? Now, imagine bundling mortages in these mortgage scams, led to say...well title becoming fuzzy and no one can tell who is actually holding a note (illegal btw). OK now we come to how to avoid this from becoing public and thereby putting banks in the financially hazzardous position of disclosure? Why, bail out the home owners! Yeah that will do it! Now who passed legislation to do this great deed that actually helps banks more than home owners? Wasn't it this administration? Now that's not to say they knew then what they have now become aware of (unclear titles) but still the bail outs certainly have aided banks in keeping the lid on this.
 
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