HowardLucky Couldn't find the Deed- Radiohead
November 19th 2007 12:04
Radiohead- Lucky they couldn't find the mortgage
I'm on a roll, I'm on a roll
This time, I won’t be kicked out of my house;
Though my mortgage, though my mortgage can’t be possibly paid;
It's gonna be a glorious day
No one knows who owns it now;
It’s bought and sold so much;
No one knows who owns it;
The deed got lost somewhere in the Caymans;
The Judge said we can’t foreclose without having a deed;
So I don’t have to leave my house today;
It's gonna be a glorious day
I feel my luck could change
Now the system is in the real crash;
Pull it out like FDR did;
I'm your superhero
Bankruptcy reorganization- on the edge:
pix at Really Long Link
http:// rawkblog.blogspot. com /2006/06/more-live-radiohead. html
In the state of Ohio, after a number of foreclosure cases, it seems the derivative market has bought and sold the mortgages so many times, the judge can’t find the deed! This may be a chance to blow the whole shebang.
Following the Oct. 31 decision in Cleveland, Ohio, by Federal Judge Christopher A. Boyko, to dismiss 14 home foreclosure cases, brought by Deutsche Bank National Trust Co., on Nov. 14 Federal Judge Kathleen M. O'Malley similarly "dismissed without prejudice" 32 foreclosure cases in Cleveland, because the plaintiff did not provide documentation that it is the owner/holder of the note and mortgage when the foreclosure action was filed. Separately, on Nov. 15, Federal Judge Thomas M. Rose for the Southern District of Ohio, in Dayton, threatened to dismiss 27 foreclosure actions within 30 days, because lenders have not proven they own the property they are foreclosing on.
Were the banks leveraging properties they did not own? Or was the same property leveraged a multiple number of times. Perhaps multiple owners think they own it.
Judge Rose ruled the lawyer filing 26 of the foreclosure cases had claimed his clients did own the properties at the time the foreclosures began, but he had not submitted the necessary evidence to the court.
"Failure in the future by this attorney to comply with the filing requirements," Judge Rose wrote, "may only be considered to be willful."
Citibank is trustee in one of the cases, the New York Times reported; it represents a securitization trust sold in 2005 by First Franklin, a loan originator now owned by Merrill Lynch. Another case involves HSBC. These are the big banks, the princes of Wall St. and the City of London. Time for the Homeowner and Bank Protection Act?
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