Low U.S. Mortgage Rates a Sucker-Trap

The U.S. media couldn’t wait to trumpet the news: “U.S. Mortgage Rates Fall To Lowest On Record”. Just don’t read the fine print. What “fine print”, you ask?

Let’s start with the fact that there tens of millions of U.S. residential properties which have been contaminated with various forms of fraud, courtesy of the “MERS” registry-of-shame and the complete (and willful) abandonment of established legal procedure, courtesy of the Wall Street fraud factories. Thus just because someone buys a property in the U.S. doesn’t mean they “own” that property.

In the current negotiations taking place on this massive mortgage fraud, we have (on the one hand) the Wall Street bankers on their knees begging to have this systemic fraud simply swept under the carpet, and (on the other hand) the vast majority of U.S. politicians at both the state and federal level only too happy to hand these bankers brooms. If not for a few “hold-out states” the spineless politicians would have already completely caved-in to banker pressure.

What neither the bankers nor their political lackeys (nor the talking heads in the media) are telling Americans is that sweeping all this fraud “under the carpet” fixes nothing, other than reducing/eliminating the legal liability of the banksters (retroactively) after their crime-spree has been committed. All this fraud will still be sitting in the various land title registries all across the United States – legal land mines which could (and will) financially destroy the unwary.

When someone “buys” a house but then doesn’t end up “owning” that house (because a title-defect prevents the conveyance of “good title”), it is by no means automatic that the purchaser will get all of (or any of) their money back. The “seller” of the house (who in fact was incapable of delivering title) is not going to be especially interested in refunding the purchase price – since then they are the party who is “holding the short end of the stick”.

What this “deal” between the states and the bankers will do is likely prevent innocent victims from being able to sue the bank(s) which caused the original title-defect – and whose pockets are “deep enough” to make restitution for all of these additional, indirect victims of their crimes. Of course it might mean that those Wall Street banks no longer have $10’s of billions to stuff into each other’s pockets each year as “performance bonuses”. (more)