About Michael Kraus

Comments

  1. Elyse Del Francia says:

    NO ONE IS ADDRESSING TRHIS ISSUE?????

    MERS has caused this entire economic meltdown by creating their very own registration company and avoiding paying BILLIONS of dollars in filing fees for the 63 million mortgages they minipulated and now foreclosing on…HELLO!!is anyone reading this??? MERS defrauded every County Recorders Offices in every State in America resulting in millions of County workers, teachers, police and firefighters being laid off…Does anyone ever ask WHY are all the States broke???

    All Media attention is a frigging “side show” with focus on killed and missing chuildren!! Not one report on asking WHY ARE WE BROKE????? HELLO!! Who’s in charge here???

    Is anyone reading this???
    This is pretty big news wouldn’t one think???
    So disgusted with MERS….and, oh ya…who is MERS??? The Wall Street Banksters people….all of them!

    So disgusted!! You?
    elyse@gte.net

  2. Pamela Dritt says:

    I wrote a letter to the MA attorney general, Ms Coakley, to wit:

    I strongly urge you to follow the advice of John O’Brien, Register of Deeds for South Essex County, to back out of the proposed 50 state foreclosure fraud settlement with banks until the full extent of damages can be ascertained. If not outright fraud, the amount of uncaring disregard for the law the banks, MERS, and mortgage institution showed was, at the very least, enough to topple our ability to keep corruption out of our country’s government and business institutions.

    O’Brien’s office commissioned an audit through a property analytics firm of mortgage assignments made in his district in 2010. The study looked at 565 assignments involved with 473 different mortgages. The results:

    • 16% of the assignments were valid, 75% were invalid, and 9% were deemed questionable.
    • Of those that are invalid, 27% were fraudulent, 35% showed evidence of robo-signing, and 10% violated the Massachusetts Mortgage Fraud Statute.
    • The proper owner of the mortgages could only be determined 60% of the time.
    On the results of the audit, O’Brien concluded:

    “This evidence has made it clear to me that the only way we can ever determine the total economic loss and the amount of damage done to the taxpayers is by conducting a full forensic audit of all registry of deeds in Massachusetts. I suspect that at the end of the day we are going to find that the taxpayers have been bilked in this state alone of over 400 million dollars not including the accrued interest plus costs and penalties. The Audit makes the finding that this was not only a MERS problem, but a scheme also perpetuated by MERS shareholder banks such Bank of America, Wells Fargo, JP Morgan and others. I am stunned and appalled by the fact that America’s biggest banks have played fast and loose with people’s biggest asset – their homes. This is disgusting, and this is criminal.”

    Allowing this kind of corruption to go unpunished or to be overlooked with a token damage settlement is a greater danger to regular American citizens than terrorism or drug criminals; for corruption turns democracy into oligarchy. We no longer have Eliot Spitzer crusading for the rule of law to apply to rich and powerful individuals and large corporations. Please step up and tackle this mess for the citizens of Massachusetts. Do not turn away because the issues are complex and time consuming. MA needs the over 400 million dollars not including the accrued interest plus costs and penalties that MA taxpayers have lost from registry fees alone. I voted for you. I am counting on you to make banks, MERS, and mortgage institutions follow the laws of Massachusetts, and to collect the full compensation due when they don’t.

    Sincerely,
    Pamela Dritt

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