Inland Empire Progressive

  In the Inland Empire, unemployment is one of the highest in the nation standing at approx. 13%. In the city of San Bernardino, scores of houses sit underwater or in the process of foreclosure. Some remain abandoned with squatters and other vagrants sometimes moving in and becoming “residents”. Personally, I won’t buy a house because Single Family Homes (SFH) do not create wealth, can be abused easily (used as ATMs), and are an antiquated form of property that is a waste of space. I might be in the minority on this one, but living through and seeing the consequences of the housing boom and now the bust has turned me off to SFHs. In addition, big banks, investors, and governmental entities sit on mortgage loans whose value are inflated, inaccurate, and speculative. Because of the way Mortgage Backed Securities, Derivatives, and other financial products were packaged and sold I have severe doubts as to the true value and ownership of any housing mortgages held by MERS or any of t...

Note: I wanted to posted this article in full from bluegrassforeclosure.com The main takeaway is that MERS holds all the land titles. Who gives them authority to do so? How do they know who the originator is? This mortgages were so sliced and diced by Wall Street that we don’t know who owns what or how they own it and what piece. Eric Schneiderman has the regulatory authority to investigate MERS, when will the subpoenas start coming down. What the heck is MERS, anyway? October 11th, 2010 This original post can be found at Examiner.com . As we have reported, a federal lawsuit has been filed against banks and MERS. The suit alleges, among other things, that the banks and MERS conspired to file foreclosures against homes that the banks did not actually have a lien against. Confused yet? Don’t worry, I am too. I’ll try to shed some light on what the HECK is MERS anyway . . . ? Kentucky is a title lien state, wherein title is actually held by the owner of the real property. Then a bank o...