Facing Foreclosure from the banks? Tell them to PRODUCE THE NOTE!!

reply to post by werk71


I never abused the credit system but went from making a thousand dollars a week to nothing for a short time and then 500.00 per month.

I have never been late on a mortgage payment, car payment, insurance, property or personal taxes, and I do the best I can by my family and pets.

I could go on, but you know I was raised to never get into the credit game in the first place but needed it in order to do the things that needed to be purchased with a bigger ticket like a new hotwater heater when it went out or airconditioner, stuff like that.

I did very well with my credit until it all fell apart for personal reasons...

Originally posted by HunkaHunka

Originally posted by stevegmu


Come on. We all know those who got the 'exotic' loans did so because they thought they could flip the house in a couple years and make a big profit before their mortgage payments doubled. Just because one offers another money or a loan doesn't mean one has to take it. It was pure greed on the part of the lendee.
If they owned the homes, would there be a problem?

A lot of people were flippers... I agree with you there. But many of them were not, or owned their homes and were seduced into getting crazy mortgages on their current homes... this happened a lot in Florida, where prisoners learned the "loan origination" business while doing time and not the traditional other criminal schemes.

The agency in Florida which regulates "loan originating" was asked many times by the populace to regulate this, and make background checks mandatory... but by time it was all done, there were more than 10,000 loan originators who had spent time in prison not more than 3 months before starting their "loan originating" business.

Ultimately, our society was fine without these exotic loans, and then collapsed after they were invented... they should never had been implemented period.




[edit on 24-2-2009 by HunkaHunka]

Just because the loans were shady doesn't mean the persons who accepted the loans don't bear the brunt of the responsibility. I took out 17 90-day mortgages between 2004 and 2006, yet didn't default of any of them. Why should I have to pay for those who tried to make a quick buck, but failed? I don't think anyone who hasn't put down 20% towards a new home should receive any aid whatsoever. Car salesmen are pretty slick. Should we start helping those who took out car notes on cars they can't afford refinance in order for them to keep their cars? Should we blame the dealers, or those who just had to have the RX450, instead of the Jetta?

Originally posted by SicSympreTyrannis
reply to post by BlackOps719

 

This should work. The problem is they cannot retain council if they admit the contract existed. They must allege that there was no contract at law. An attorney risks being dis-bared, and would be sanctioned(under FRCP R.11) for filling a meritless claim, and only a court can file a show cause order sua sponte. Personally I would revise the rules to allow pleading this in bad faith without sanction, but that will never happen. Good luck to those that go it alone. I wish we could help.

Oddly enough, I just saw an attorney on our local news channel Monday night, who said that this was actually a valid defense, and hinted that he would take cases just like this. Big name attorney in town too, so it's not likely he would take cases with that much publicity with a risk of being "dis-bared". (Unless I misunderstood what you were saying.)

reply to post by stevegmu


I understand your anger, I too am a bit POed because for as rough a time as I have had, for the difficulties we have faced in the past 4 years, I have always managed to pay my mortgage and was never late.

Now I wonder if I was a fool? Should I have spent more on myself and the family and then been able to be bailed out now? I am wearing crappy clothes, need shoes, need a new bra for gods sake, and am wearing old panties, I use cheap shampoo, and have not bought a new set of towels or sheets in years.

Am I a fool? I noticed in the videos of the people who were shrewd and not leaving their homes that they looked pretty well off. As for no electric, well God only knows THAT has been Really hard to pay at times, but I do, does that make me a fool too?

Pay your bills, have it rough, your a fool.
Dont pay your bills, buy what you 'want' instead, your smart!

Originally posted by northof8

Originally posted by sir_chancealot
Oh, look! Your righteous indignation is SO noble!

Originally posted by northof8
reply to post by sir_chancealot

 

And exactly how do YOU have to pay the "free loader's debt"? After all, if the banks cannot produce the original note, THERE IS NO DEBT. I may THINK I'm buying the Brooklyn Bridge, but until I get a clear title, it's not mine.

Are you that ignorant? The bank still has a loan on the books even if they can't find the note. Are you one of the free loaders losing your home? I can understand your argument if that is the case.

You, sir, are either willfully ignorant, or your reading comprehension skills leave much to be desired. I stated IN THAT EXACT SAME QUOTE that I had less than $250 in debt.

The bank will still have a loan. If no one will pay they off load that debt onto the tax payers.

What do you NOT understand about the fact that just because a bank SAYS they have a loan, doesn't mean they ACTUALLY have a loan to put on their books?

If someone's word is enough for you, fine. I now own the mortgage on your house. I expect your checks to be immediately forwarded to me, instead of your usual mortgage lender. My books show that I have purchased your loan.

When can I expect your check to arrive? After all, you wouldn't want to be a freeloading "immoral" person, would you? When are you going to start sending me the money you owe me?

If you are on welfare or enjoy some kind of free money from the government then I understand where you come from.

In one sentence, you ask "Are you one of the free loaders losing your home?", and in another, you say "If you are on welfare, or enjoy some kind of free money from the government."

Apparently, lack of logical thinking goes with your reading comprehension problem. Let's say I had a mortgage in default, and was on welfare. Given that the bank would have had to lend me this money KNOWING that I could not pay it back, what LEGAL RESPONSIBILITY would the bank possess in this hypothetical situation? (Here's a hint: Look up "due diligence")

There are plenty of immoral people who think like you.

And there's many, many more immoral people who think as you do. That as long as you signed something, you are absolutely 100% bound in that contract. Guess what? The law doesn't agree with your position.

Among other things, anytime a contract is signed, there must be a "meeting of the minds". In other words, we must agree that the contract says what it says. How does this apply to homeowners who were duped with ARMS?

Let's put it simpler: Does your "morality" allow you to financially prey on stupid people?

Hopefully we can eventually weed out that kind of thinking in this country and force those people into the special camps for free loaders...

Those aren't the people that bankrupt a country. There will always be limitations placed on them. The greed of the BANKERS, however, has bankrupted many, many empires in the history of the world.

I have asked twice before and gotten no answer. I now ask for the third time.

Why do you insist that the little guy follow every single little fine-print in the contract about paying, but not hold the big banks to the fine print of having to produce the original note? Or are you going to avoid it again?

The banks are where they are at because of greed. Not because of "immoral people". I notice you didn't even bother to respond to any of the things I listed that banks do to scam people out of money. Now why is that.

Once more, because you have obviously demonstrated that you lack reading comprehension.

Why do you hold the defaulters to the contract, but not the banks?

Originally posted by Jnewell33
what happens if the company simply cannot produce the note. I understand this is unlikely but what if, you know. very interesting to say the least.

I would think you woul be able to legally sue the mortgage company if they actually carry out the foreclosure because it would have been done illegally. You would get your house back.. And if they just ignore you because they can't find said document.. You will probably not be foreclosed upon unless somehow another foreclosure is initiated (which i would think would be illegal too).. It wouldn't necessarily prevent them from barking up your door.. But it would definately make the foreclosure process more or less fizzle out.. And it would be their fault.

You would still owe money on your mortgage though obviously.. So the best thing to do is not take chances.. Do whatever you have to do to catch up and ride out the duldroms until things level out financially.. Because if they can't foreclose in the first place, you've got some time. But I wouldn't take my chances. And if they are really neck deep in documents and paperwork like the OP sais, then they wouldn't have any way of knowing whether it is there or not in the first place (Nor would you). You might get lucky, you might not.. But if you are assuming that it is missing and you prolong catching up on the payments you are rolling the dice.

-ChriS

[edit on 25-2-2009 by BlasteR]

Originally posted by antar
reply to post by stevegmu

 

...Should I have spent more on myself and the family and then been able to be bailed out now? ...

Show me ONE link to ONE person that has been "bailed out" by the $750 BILLION. Just one person. If so many people are being "bailed out", this ought to be a cakewalk for you.

Go ahead, we're all waiting with baited breath.

reply to post by northof8


Let me get this straight, I want to make sure I understand what you are saying; The bank counterfeits its' money to loan you, calling it 'marginal banking'. They charge you two or three times the amount of the loan, over the 30 or 40 years, and the principle. They demand you do it their way, and they insist you be indebted to them for life, to have a place to live. To facilitate their con, they bribe both parties candidates so whoever wins will 'legalize' their robbery. And you say that they are bad people because they are trying to keep the house when the financial scam started to collapse?
People, most home loans are 'closed ended' loans. Instead, get an 'open-ended' loan, and you can get it paid off in ten years, paying the same amount every month. But you pay into it your entire paycheck, and write checks from that account. So you are not paying interest on the unspent paycheck, and not drawing a measly 2 or 3 percent from a regular account. They are not about to tell you about this. They are CROOKS just like the lawyers, politicians, judges, and cops. Deal with it, and this is how.
An excellent book is 'Debt Cures' by Kevin Trudeau. If you are in financial straits, it is probably your own fault, due to your ignorance. This is a big step to solve that.

[edit on 25-2-2009 by Gregarious]

I don't understand forgive my ignorance, I'm not American, the only financial dealings I had where paying hospital bills, and buying a vehicle, what I don't understand is how the tax payers get the bill if someone cant pay their mortgage?

What kind of system allows companies, to win win, no matter (it seems) what they do? why are banks allowed to do what they want, with no danger of losing? because that is what it sounds like when I read this thread.

Those who are still doing ok during this time, seem to have become complacent that this world crisis will not effect them? how does that work?

The way I see things, what is happening now, is just the tip of the ice berg, this is going to get everyone (apart from those being given bonus after bonus, paid for by the tax payer) why are you not screaming blue murder at those people getting your taxes? if you think your 100% secure then good for you, but don't get to comfortable, even with no debt, that will soon change when the jobs disappear, or when those who own business, find their cash flow suddenly vanish because nobody can afford your services.

Sure there are people who will try and use this as a way out of their problems, there will always be bums like that, people who twist and misuse the system for their own gains, I am just amazed at the amount of people here who have always 100% never ticked the wrong box because it is a tax relief, you know those who never do anything wrong, you know the ones who forget the minor details, or add a few for a few extra $ or £, never met a totally 100 % honest person before, I'm not kidding either.

One more thing, just because mum and dad have the morals of a cockroach, does not make it right to have kids suffer also, I don't really care about the adults, but who is protecting the innocent?

A lot of families who are suffering now, are doing so because of no fault of their own, people who have worked hard and always found a way to pay their bills on time, should they be thrown on the scrap heap also? I had the idea that Americans will do anything to protect other Americans, but now backs are against the wall, we can see that is not the whole truth is it? it is becoming an every man for themselves scenario, that is really going to fix the problem.

IMO every man for themselves means just that, and becomes a problem for everyone, nothing wrong whatsoever with having a little pity on those who have been forced into doing every thing it takes to keep the home some have fought and worked hard for 20 years or more, only to see greed take it all away, and that is the cause for all of this mess, GREED.

Not everyone is dishonest, you cant judge everyone because of the few who try and do everything they can to get out of paying, there are a lot of families suffering because of the people who steal.

If this tactic saves just one innocent family, them that's a good thing in my book, you can catch the immoral thieving bastards at a later date, but for now try saving a few innocent people, one day soon it is more likely going to be your turn to fight for your home, and maybe not just because of debt, and remember , it's fine having 100 guns if that's how you get security, but the other fella will have one too, and that's all he needs, just one.

Where OH where is the true justice? what ever happened to the caring us? thank God the nasty folk are way down in the minority, for now anyhow.

[edit on 25/2/2009 by azzllin]

If it wasn't but for the buyouts, the banks might not have enough staff to pursue the foreclosures in the first place.

Obviously any bank given money as part of the buyouts should have to give the people who lent them the money through their tax dollar a little more grace and work with them unless they are paying no money at all per month.

Even say 80% of the interest and rack the rest up for a year, and just put it into the house. The same could be done by the local taxes, roll it into the house, and just put a tax lean on the house to protect the municipality.

Here is the easiest way to avoid foreclosure, are you ready this is a big one.............. PAY YOU DA#M BILLS!!!!!!!!!!!!!!!!!!!!!!!! But wait you say you don’t have enough money, then get another job. Wait stop pity party for me I was a big bad manager or a CEO; get over it you aren’t anymore. There are always jobs out there you just have to be willing to do them. McDonalds is always hiring. I don’t care if you got laid off (Its always someone else’s fault) get it together and go find work. If you want to keep your home stop blaming the mortgage company you signed the paper you knew what you were doing and if you didn’t then you had no business buying a home in the first place.

hi I thought when you went through escrow, the escrow company filed the mortgage and note with the state land records office and changed the tax record to show the borrower was now responsible for the taxes. If this is true the state would hold a copy or original of the note. I could be wrong and it could vary from state to state but in the three states I have lived in and bought property this has been the case.

reply to post by northof8

What a bunch of losers... I can't pay my mortgage so I will screw with the bank. This is why we are in this mess. Losers like this didn't deserve a mortgage in the first place. People like this need to be taken out of their homes and flogged period. You tell them to produce the note? I say how about you put just as much effort in fighting the bank as finding a job and produce a damn paycheck. Losers...

I am sorry that you feel that way. My sister was married and a stay at home mom with 4 kids. Her husband was in the Army as a 1st LT. One day he just up and left her with the kids. He apparently moved to Florida for some girl he met on the internet. Now, that left her alone to pay the mortgage and support her kids. It didn't take long for her to fall behind on payments and the bank foreclosed on the home. She asked them to produce the note based on a recommendation from an Attorney. That was 2 years ago. She still lives there. She hasn't made a payment in that time....They still can't find the note.

She has a job and has tried to to what she can but when her husband abandoned her he left her and her kids in a bad spot. Not everyone was stupid and lazy. Sometimes life throws you a curveball and do what you can.

Ok,

Now we are talking let's run with this logic here.

Get a job, so the jobs that are available are mostly low paying jobs, maybe 10 to 20% of what the majority used to make.

Everything is negotiable and I mean everything. Notes of house, bills, credit card debt, everything, because something is only worth what someone is willing to pay for it.

The old system was based on people making a great deal of money and now the money is not there, so everything from taxes, bills, bank notes needs to be adjusted to the current income levels.

Simple math here folks, if it doesn't happen soon it will all come tumbling down.

Originally posted by ice1300
Here is the easiest way to avoid foreclosure, are you ready this is a big one.............. PAY YOU DA#M BILLS!!!!!!!!!!!!!!!!!!!!!!!! But wait you say you don’t have enough money, then get another job. Wait stop pity party for me I was a big bad manager or a CEO; get over it you aren’t anymore. There are always jobs out there you just have to be willing to do them. McDonalds is always hiring. I don’t care if you got laid off (Its always someone else’s fault) get it together and go find work. If you want to keep your home stop blaming the mortgage company you signed the paper you knew what you were doing and if you didn’t then you had no business buying a home in the first place.

[edit on 25-2-2009 by Realtruth]

Wow, so your sister is now a criminal. I if you use something that you are supposed to pay for and don’t then that make you a, wait for it wait for it that’s right people a criminal.

If your sister’s husband was a Lt. in the army and he left all she has to do is get a hold of his chain of command, he is legally bound by UCMJ to pay his spouse and dependants his Basic allowance for housing (BAH). This will be set up as an allotment and come straight out of his pay check. This only works if he is still in the Army, If not it may be time to get legal help.

People are not criminals for exercising legal rights and what's allowable under the law.

On the other hand, our entire government, banking system are criminals because they are breaking laws, and trashing the constitution daily.

Originally posted by ice1300
Wow, so your sister is now a criminal. I if you use something that you are supposed to pay for and don’t then that make you a, wait for it wait for it that’s right people a criminal.

If your sister’s husband was a Lt. in the army and he left all she has to do is get a hold of his chain of command, he is legally bound by UCMJ to pay his spouse and dependants his Basic allowance for housing (BAH). This will be set up as an allotment and come straight out of his pay check. This only works if he is still in the Army, If not it may be time to get legal help.

[edit on 25-2-2009 by Realtruth]

reply to post by ice1300

If your sister’s husband was a Lt. in the army and he left all she has to do is get a hold of his chain of command, he is legally bound by UCMJ to pay his spouse and dependants his Basic allowance for housing (BAH). This will be set up as an allotment and come straight out of his pay check. This only works if he is still in the Army, If not it may be time to get legal help.

No...She is within her rights to request a copy of the original loan document. Which part of that do you not understand? The bank has the right to put the home in foreclosure and she has the right to request documentation. I don't believe she was even on the original loan documents. Her husband bought it before they were married. She has legal help! That is who has been advising her these last two years...An attorney has been working for her for free to help her out because really it wasn't anything she did to get in this situation. Well, she did marry a loser.

He is not in the Army any more. He was stationed at Fort Hood in Killeen, Tx. They were going to get deployed to Iraq and he started freaking out. He was scared to go. He held my sister and her kids at gunpoint in the house and was threatening to kill them. His commander eventually talked him out and he was diagnosed as Bi polar and released from duty.

reply to post by BlackOps719

Will this work with school loans???

reply to post by BlackOps719


I know that when my wife and I signed our mortgage papers, the monthly payment was there in black and white. I believe that all banks are unscrupulous on some level, but you cant blame the bank if you can read the payment on the papers and know what your income is. If you lose your job, Im really sorry for you, but someone has to be accountable. I can remember my grandparents talking about the community and churches taking donations to save family homes from foreclosure. Well, the government has taxed us into not being able to donate to our communtiy like we used to. I own a small business and I know how much it hurts when people dont pay up.

Unscrupulous lending is the problem with people not making payments that they understood? Not!

We are just a nation of victims. If we weren't, we would ALL be raising hell about the government robbing us blind right now and we would be down on the border throwing illegal immigrants asses back across the river.

But sheeple won't do that.... yet.

What we have is an unscrupulous GOVERNMENT robbing us so we cant pay our bills. Period.

Just my opinion. Thanks.