Robo Signers

Today again, as it was 18 months ago, the Elk Grove Citizen newspaper chalked up 7 pages of default notices; another 30+ Elk Grovian familial units are about to be foreclosed upon.

Last weekend's 60 Minutes show made mention of another one million foreclosures scheduled to occur in 2011, on top of the one million that occurred in 2010. This on the heels of the reporting of $10 an hour robo-signers signing the name Linda Green to a few hundred thousand documents each month -- big burly guys and little Asian women whose job it was to sign the name Linda Green as fast as they could on documents intended to foreclose upon hundreds upon hundreds of thousands...most certainly to include a few Elk Grovians.

I just pulled out the documents from the foreclosure on my first housal unit that I sold in 2006 -- the name signed was Bethany Hood, assistant secretary for Deutsche Bank Nation Trust Company. Not surprisingly, the signature of Bethany Hood on the form has no resemblance whatsoever to the spelling of Bethany Hood. I'd wager that it was indeed a bunch of $10 an hour people in a warehouse in Patterson, NJ signing off these things as fast as possible. Indeed, you can Google search "Bethany Hood Robo Signer" and you'll find a dozen references to mortgage fraud, and you'll find a .gif file with her signature that doesn't at all match the one on the document I have here at home. Indeed, on this one, she's VP for MERS, not Deutsche.

Fascinating. This in our land of the free.

I had a disposed installment note due to this bank's foreclosure on a property I sold five years ago that arguably was fraudulently signed, yet I filed my 2010 income taxes taking a $17k reduction in ordinary income based on it. This in our land of the free. I took the deduction and I already received my income tax refund, all based on a fraudulent loan doc. Not that I did it, but of course Deutsche Bank will never, never! be held accountable for this or a coupla hundred thousand other fake loans. I got a massive refund this year because of the disposition of this note. Knowing how Deutsche bank made a profit selling this property at auction and how the federal government is both complicit through failure to prosecute said banks for fraud and how taxpayer monies are and will be continued to be used to bail them out, I think that I'm going to file the same goddamn disposition each and every year from here on out on my tax returns and take my chances at getting caught.

Here's what I'll do:

I will forge create a new substitution of trustee document every April with Bethany Hood's name on it -- each year she'll be the Vice President of a different bank, just like today! as she's the VP of 7 different banks including Deutsche Bank National Trust Company and Mortgage Electronic Registration Systems, Inc. That is, she will have effectively defaulted on the same property year after year, just like she's doing today!, only that I will have a different junior installment obligation that's extinguished each time her new bank defaults. Each year I will claim that as my note becomes unenforceable due to the default, I will write down ordinary income against the basis of my note.

I will leave it to the IRS to prove that the default didn't occur. Good luck with that. I will have a new default notice every year. I have my original installment note that I can continue to use as proof that I have an extinguished obligation. I will offset an awful lot of taxable income this way. As we fail to prosecute robo signers for fraud, I will join them and become one myself.

Remember, this sorta thing is what passes for an economy.