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Old 05-11-2012, 11:18 AM
 
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Quote:
Originally Posted by eventusstultorummagister View Post
Does BK undo mortgage fraud as well?
Moot point. Mortgage fraud is never pursued against an owner occupant even if blatant.
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Old 05-12-2012, 05:35 AM
 
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What about trusts overseeing mortgage-backed securities and distressed-asset funds and companies that buy bad loans to profit from collection rights?
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Old 05-13-2012, 05:33 PM
 
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Quote:
Originally Posted by eventusstultorummagister View Post
What about trusts overseeing mortgage-backed securities and distressed-asset funds and companies that buy bad loans to profit from collection rights?
Does not work. You have to go to court and get a judgement. And a defense can be offered and there is a lot of problems determining value. None of these collection agencies can work without getting the rights to collect with no expense.

And if it is significant sum it will lead to a BK most of the time.
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Old 05-13-2012, 08:22 PM
 
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Quote:
Originally Posted by lvoc View Post
Does not work. You have to go to court and get a judgement. And a defense can be offered and there is a lot of problems determining value. None of these collection agencies can work without getting the rights to collect with no expense.

And if it is significant sum it will lead to a BK most of the time.
The banks only go after those with the ability to pay, this would exclude them from BK protection.

Also, if everything you say is true, would this not cast doubt on the recovery?
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Old 05-13-2012, 11:28 PM
 
12,973 posts, read 15,882,626 times
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Quote:
Originally Posted by eventusstultorummagister View Post
The banks only go after those with the ability to pay, this would exclude them from BK protection.

Also, if everything you say is true, would this not cast doubt on the recovery?
Those with money are the last people you go after - they defend.

I see no connection with the recovery or lack thereof. It is how it has been for the last three years.
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