If a homeowner obtained a mortgage during or after 1995, she likely lives/lived in a #FRAUDHouse !
If that homeowner defaults on the loan and experiences #FRAUDclosure, she usually sinks into depression, despair, and defeat. The “victim syndrome” takes full force and effect. This phenomenon persist even with the all the exposure of #RoboSigningPart1 wickedness on the part of banks.
Unbeknown to the general public, #RoboSigningPart2 A/K/A #DEEP6FRAUD, was already underway during The Great Recession of 2000-present. RMBS (Residential Mortgage Backed Securities) were and are #PONZI-like investment schemes. But banks and their legal reps quickly discovered that the RMBS also provided excellent tall grass to disguise fraud of all sorts.
Among the most egregious and lucrative cover-up is employing #DEEP6FRAUD as a shield for out-of-time foreclosure filings. Banks count on 95% or more of defaulting homeowners not to contest #FRAUDclosure. That leaves a slim chance that an overwhelmed homeowner or defense attorney will recognize and point out various fraud, or raise a legitimate #StatuteOfLimitations challenge.
As many as 25% of #FRAUDclosure filings may be illegit because they are filed out-of-time. This is especially true in states that have shorter #StatuteOfLimitations filing periods.
ADVISORY – The DOJ, AG’s, and Court systems are in no mood for Round-2 of #FRAUDclosure examinations and suspensions. So homeowners and defense attorneys who recognize (even belatedly), a legit #StatuteOfLimitations violation , must protest and contest loudly and often.