"The biggest investment most Americans will make is now the                     target of one of  the country's largest financial scams and labeled: 
                                   The Perfect Crime."
                     
       "When fully exposed, this will make Enron look like a  parking ticket."

Quote from MSFraud.org (2003) This quote was well before it's time.
                      Now everyone can see it's sheer brilliance.

I agree. Yet everyone seems oblivious and these companies march on. If you're like me you trusted your broker. Trusted he truly was trying to get you the best interest rate and terms possible for the fee he charged you. Trusted that your lender had your best interest in mind when giving you a loan. Trusted the appraiser the bank insisted you use gave you an accurate appraisal. Trusted that the settlement service providers who again the lender most likely selected for you, were only charging you what you really owed. This is not the reality of the mortgage loan industry as we know it today.

In years gone by, most of the lenders were holding the loans they created and had a stake in the success of the loans. In short, they didn't lend money that they didn't care if you could repay, and they had little incentive to overcharge you and set you up to fail. Now loans are bought and sold like used cars. Most are sold immediately after consummation. "Table funded" In fact, every player in the transaction has an incentive to set you up to fail. An incentive to overcharge you. An incentive to have no regard whatsoever if the loan really is in your best interest.

That was then - This is now.
 
I want the lenders of America to sign this agreement:

WHEREAS, we the lenders of America operating right under the noses of the Federal Regulators, did hereby steal millions of dollars from the American public. We created the artificial real estate bubble by sending hordes of buyers into the market with triple the amount of pre approved loan amount they could borrow and qualify for by using no doc and low doc loans, adjustable rate and teaser rates, negatively amortizing arms, and brokers who forged documents, appraisers who inflated values, and a myriad of other techniques.

WHEREAS, we the lenders of America and our partners and affiliated companies in crime, ie: the title companies, brokers, appraisers, Wall Street, and assorted other entities, did hereby steal funds on every transaction with overinflated fees, settlement costs, prepayment penalties, broker kickbacks, overcharging for recordation taxes, title insurance, float in escrow accounts, captive reinsurance, and many other nooks and crannies we hid fees and profits to us.

WHEREAS, we the lenders of America are now in trouble with everyone suing us are using the "ill gotten gains" to defend ourselves against the lawsuits and protect our CEO's and other executives who were the primary beneficiaries of the FRAUD.

WHEREAS, we the lenders of America are now walking away and closing up shop leaving everyone else to pick up the pieces of the mess we are leaving behind. We( the executives who profited the most) will be fine because we made so much money we could live the rest of our lives on what we already took out or these companies. You the borrowers, not so lucky.

In conclusion,

It's been a fun ride, thanks for coming along. Sorry it has made you nauseous in the end. Most good rides do that you know. No hard feelings. If you sign away all your legal rights we may let you keep your house. For awhile anyway. Eventually you may buckle under the pressure, and we will have to foreclose. I hope you understand. We should have never given you this loan to begin with.

Thanks a million, or should I say a hundred million,
 
CEO _____________________________________
1117 Sunshine Ave.
Cayman Islands

PS. Sorry to the IRS and the US government but you are so screwed up we decided to go elsewhere. We didn't want all of our tax dollars going to bail out the borrowers or fight the war in IRAQ. Nevermind those young men and women are fighting and dieing so scum like us can do whatever the hell we please in America. After all you did participate by looking the other way as we ran amuck. So Thanks, so sorry to do this to you. But - FAREWELL!

Every dog has their day, and their day is coming..... 

The only fair and equitable thing for our government to do, is to pursue the criminals and enforce the consumer laws "already on the books."  But, they're not. Why? The banks own our government and enforcing the laws would crash our entire financial systems. Most people think that the Federal Reserve is a GOVERNMENT entity. It's not. If the government enforced the laws on the books, millions of homeowners would be able to rescind the predatory, and in some cases outright illegal loans they created to obtain obscene profits for the banks and Wall Street firms. The punishments simply don't fit the crimes and the working class middle American families homes are being sacraficed to save the banks from the liquidity crisis they created.

     
Fight for your rights.