second bank liquidity crisis

  1. 4,084 Posts.
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    A bank must be able to take possession of a home when loans defalt. Robo sighing has resulted in invalid documentation which is not legal. Neither the Bank or the home owner has a legal title.

    Because of these bad titles, property owners can't prove they own the properties they think they bought, and banks can't prove they had the right to sell them.

    The banks have broken every rule in the book. Over valued housing, no deposit, poor means testing and lack of prceedure.

    http://finance.yahoo.com/news/Robosigned-mortgage-docs-date-apf-3074246978.html?x=0&sec=topStories&pos=main&asset=&ccode=

    This problem could cause over $100 billion in bank losses.

 
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