The bottom line is this: Either the original issue of that mortgage and its subsequent securitization went through all previously-required assignments and you can prove it or your ability to convey a title via Trustee Sale is gone.
Awwww those poor widdle banksters that cheated on the rules…. looks like Arizona has had enough of their games and is going to body-slam them all in favor of their citizens. BRAVO!
Weeeeellll…. maybe not.
The Senate passed this bill, by the way, 28-2. But after it passed something odd happened – it disappeared!
Here’s the original:
And here’s what it got replaced by:
Senate Bill 1259 Relating to Fire Districts
Relating to fire districts?
How’d that happen? What sort of outrageous political corruption takes a bill that has been PASSED in one house of a State and before it gets to the other, the passed bill is replaced in its entirety with something completely unreleated?
(Incidentally, it’s the House that did that, if you haven’t figured it out yet. The problem of course is trying to determine who in the Arizona House did it. That, my friends, is “conveniently” not obvious.)
And by the way, this is real – it is not a hoax:
There comes a time when it is apparent that there is no longer a rule of law in a state, or a nation. That time usually occurs right about when a law that is in the process of being passed, and in fact passes one house of a legislature by a 28-2 margin, and it then magically “disappears” without being considered by the other house and is replaced with something entirely unrelated.
When that happens within a State, it is then incumbent upon The Federal Government under Article IV of the Constitution to immediately intervene:
The United States shall guarantee to every State in this Union a Republican Form of Government, and shall protect each of them against Invasion; and on Application of the Legislature, or of the Executive (when the Legislature cannot be convened) against domestic Violence.
Should The United States Federal Government fail to do so, it will have, by its refusal, admitted complicity after the fact. That is, The United States no longer has a functioning Constitution nor does it follow the Rule of Law – by its own hand.
It is not an accident, I’m sure, that the bill in question in Arizona would have simply required that anyone foreclosing on a home prove that they are in fact the lawful owner of the debt in question and therefore that they have the right to foreclose. That this bill, which was clearly by the vote in their Senate about to become law, was deemed “unacceptable” by certain people who have not been identified is further proof that we no longer live in a Republic, and that neither Arizona or the United States has a functional Constitution – or the Rule of Law.
Update: The original sponsor of this bill, Ms. Michele Reagan, was sued in 2010 by her lender over her mortgage when she tried to find out who actually owned it. It appears that in order for a “Striker” amendment to be passed in Arizona the sponsor of the bill must concur. Therefore, the obvious questions arise: Is Ms. Reagan still being sued, was the case previously settled, and is there a quid-pro-quo – or perhaps even something more overt – going on here?
Why would a lawmaker who was sued for simply trying to find out who actually owns their mortgage drop a bill that would require documentation of ownership before foreclosure?
It gets better. There are reports that the House Committee Chair, Nancy McClain, threatened to “not hear” the bill as passed. That’s right – the Republican (where are you Tea Party?) Committee Chair intended to kill a bill without a vote that passed the Senate 28-2! Why? Well gee, who do you think she was talking to? (cough-banksters-cough!)
I smell a big, fat, stinking rat.