The mortgage gate crisis and the coming wave of “Mulligan Mortgages”.

by Eichmare

If you are suddenly being offered a new mortgage by your bank, here’s why:

But it’s not all sweetness and light—there are some issues with Mulligan Mortgages:

“First of all—and most obvious of all—the homeowners the TBTF banks are targeting for Mulligans are probably the very homeowners whose original note is lost or irretrievably ruined by someone in the sausage factory that created Mortgage Backed Securities. I’ll bet a buck to a nickel that they’re precisely the ones where the bank likely has no standing to foreclose.

So the banks have to do the Mulligans quickly, before people get wise. Homeowners can’t be allowed to realize what the banks are up, or why. If homeowners understand fully why the banks are suddenly so nice to them, they’ll realize that they’ve got the banks by the shorts—and then they’ll realize that they can have their way with them, up to and including doing the Show Me The Note!! dance. If that happens, the banks are *$%&^. ”

Share this widely with your friends and neighbors. People need to know what the Big Banksters are up to now:

http://www.zerohedge.com/article/gonzalo-lira-mulligan-mortgages—-banks-only-way-out

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