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View Diary: NY Atty. Gen. Schneiderman LOVES Today's Mortgage Fraud Deal. UPDATED x3 Liz Warren Likes it Too! (261 comments)

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  •  Sellers still get the cash, as everyone who (2+ / 0-)
    Recommended by:
    Creosote, cslewis

    can continue to make payments under the phantom values created by the initial fraudulent loans are paying much more than they would be if those loans hadn't driven bidding up in the first place.

    It's the silent crime, and it's still ongoing.

     


    Today, if you exist... that's already suspicious.

    by Jim P on Fri Feb 10, 2012 at 01:08:13 AM PST

    [ Parent ]

    •  While I don't have much empathy for (0+ / 0-)

      all those entities that ponied up the cash that was used to finance the purchase of houses, they like the house purchasers were buyers not sellers.  The sellers and their accomplices were the prior owner or real estate developer, the real estate brokers, the appraisers, the mortgage brokers, the loan originators, the security loan packagers, and the ratings agencies.  Problem is that a whole lot of cash went to those folks and it is now all gone.

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