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Originally posted by Caulfield
reply to post by ganjoa
Weird, one whois lookup I did had William Irving listed as "Owner" so to speak.
What the Bank Must Prove to Sue You for Foreclosure
December 12, 2007, 11:25 am
The first element that the foreclosing bank has to prove is that there was a legally binding contract between the lender and the homeowners. After a loan has been sold numerous times, it may seem quite confusing to the average homeowner of who actually owns the mortgage. In fact, with the amount of technical, incomprehensible adjustable rate mortgages and interest-only loans and subprime mortgages that were packaged and sold off to hedge funds, financial institutions, and investors, there may be some very tough questions that the lender would have to answer if challenged on this element. A court in Ohio recently dismissed fourteen foreclosure cases because the lender could not prove they owned the loans, so this is not as easy as it would seem.
Originally posted by theyreadmymind
Did anyone hear Sam say there's no such thing as a sovereign citizen? I believe he said it's an oxymoron and the proper term is sovereign person. Can anyone verify that?
[edit on 4-4-2010 by theyreadmymind]
On February 18 2009, President Barack Obama announced a $75 billion plan to help stop foreclosures. The Homeowner Stability Initiative (HSI) will help between 7-9 million homeowners avoid foreclosure by restructuring or refinancing their mortgage.
By Alan Zibel, AP Real Estate Writer
WASHINGTON — The biggest players in the mortgage industry are halting home foreclosures while the Obama administration develops its plan to help struggling homeowners.
The White House said Friday that President Barack Obama will outline his much-anticipated plan to spend at least $50 billion to prevent foreclosures in a speech Wednesday in Arizona, one of the states hardest hit by the foreclosure crisis.