I currently have a personal connection to mortgage fraud, even though I currently have no mortgage of my own. My friend that I am staying with, is facing a foreclosure, and I am helping him try to fight it. I have been doing a great deal of research on this subject, because of my friend's situation. I have discovered that there are remedies out there, because the fraud committed by the banks, is rampant.
Many people all over the country, are losing their homes--most of them illegally--because they do not know how to fight back.
Most people are not aware of the fact that every single loan a bank makes, is fraudulent from the very start. That is because banks never loan any of their own assets. They never even loan out their depositor's assets. And, they never put up anything of their own as consideration. They basically just monetize the promissory note with the borrower's signature on it. So, who is REALLY creating the "money" that the borrower is borrowing? The promissory note would be totally worthless without the borrower's signature, so could it be that the borrower's signature has all the value that is being loaned back to the borrower with interest?
The bank always gets paid for that "loan" the instant the promissory note has been deposited in the bank's account as an asset. The promissory note instantly becomes the "money" that the borrower has been conned into thinking he or she owes. Then, the bank gets paid again because the vast majority of the time, the bank does not keep the note, but sells it instead. Banks can sell a note, numerous times--as strange as that sounds. They also use 90% of every loan they make, as the basis for more new loans. In fractional reserve banking, they usually have to keep 10% in reserve, just in case of a run on the bank. The banks also get paid by the mortgage insurance, whenever a mortgage goes into default. They have a very lucrative scam going, and they are not going to give it up without a fight.
Very few people seem to be talking online, about using that as a defense, though. I guess that is because most people can't wrap their minds around the idea that all bank loans are fraudulent. But, many people are using other fraudulent practices as a defense against fraudulent foreclosures. Many mortgages are listed in something called the MERS system, and those mortgages are practically guaranteed to be unenforceable.
There seems to be lots of fraud even in non MERS mortgages, though. My friend's mortgage, does not appear to be listed in the MERS system, but I noticed some interesting inconsistencies in some of the recorded documents that we copies of from the County Clerk's office this past week. One of them was a letter that was signed and notarized on two different dates.
I learned in my research about a practice they call Robo-signing. That is where the banks hire minimum wage employees to just sit the bank's lawyer's office, and notarize and sign hundreds of foreclosure documents without even knowing if they are legitimate or not.
If you, or anyone you know, is going through foreclosure...please do your research, and find out what your remedies are. Don't just walk away from your house. We cannot let the banks win at this game. They are driving the whole country, and even the whole world to ruin, and we cannot let them steal everything from us.
If they are the legitimate owners of your note--make them damn well prove it. Most of the time, banks foreclose when they have no legitimate standing to do so, and the true owners of your note--if such true owners still exist--are still out there, and could come after you later, and try to take your house. Make the banks prove that they can produce an unbroken chain of title, and prove that they even have the right to foreclose on you.
There have been cases of more than one bank trying to foreclose on the same house. There have even been cases of banks trying to foreclose on houses that are already paid in full, and even houses that have never had a mortgage at all.
Even if you are current on your mortgage payments, and not currently facing foreclosure, you should do this research and find out who really owns your note. You could be paying the wrong institution, and sometime down the road, you could find out the hard way, that you have paid all that money...for nothing. Even if you are current on your mortgage, you should check out organizations like Fraudstoppers, and any other similar organizations that you find. Listen to what they have to say, and find out all you can about what has been going on.
Then, you should take the necessary steps to find out about your own mortgage. At the very least you can give yourself the peace of mind of knowing for sure that you are making your payments to the correct institution, and that no other institution will come back on you later, threatening to foreclose on your house--even after it has been paid in full. In some cases, you might even find that no one has standing to foreclose on you, or that some fraud committed by your lending institution has rendered your note null and void. I personally would see that as a massive cause for celebration.
"If you're threatened with a lawsuit and can't afford a lawyer or aren't sure you can trust the lawyer you have, visit Jurisdictionary® to get step-by-step tips and tactics for winning ... with or without a lawyer."
But if you do need a lawyer who actually "gets it" Legal Armor can help you find the right lawyer for any kind of case you are facing. For More Information Visit:
http://susanspeaksout.legal-armor.com
No comments:
Post a Comment