Sick Of Paying Your Mortgage? You May Not Have To Pay!

reply to post by St Udio


the other good thing about this issiue
if politicians try to help the fraudsters they will be thrown out
so being politicians they will join in and and try and be on the winning side
watch the fireworks when the political blame game starts up
truth is the politicians are all to blame as much as the banks
america is a giant ponzi scheme and its about to take the whole world down
this will be the justifycation for a one world govenment

xploder
just remember who caused this banksters and politicians

reply to post by chiponbothshoulders

Consideration is being presented with something of value in a trade for another thing of value.

When you take out a mortgage,your house is used as consideration.

AHHHHHhhh The key point.
The house is consideration because it is real physical property. The money you earn from your labor is consideration again because it represents something of value, your hours of labor. BUT the computer entry made by the bank creating the loan IS NOT! It represents fairy dust - a couple seconds of a clerks time and therefore technically the contract is null and void because there was no trade of equal VALUE!

BANKS LOAN FAIRY DUST not money. That is really the key issue. That is what the "Fractional Reserve Banking" scam has always been about. Bankers do not take Joe Sixpack's savings and loan it to Mary homemaker as most people think. Instead they "loan " you a worthless piece of paper representing nothing.

Banks typically have 3% of their assets in cash in order to meet customer needs. Since 1960, banks have been allowed to use this “vault cash” to satisfy their reserve requirements. Today, bank reserve requirements have fallen to the point where they are now exceeded by vault cash, which means lowering reserve requirements to zero would have virtually no impact on the banking system. US banks are already operating free of any reserve constraints.

www.marketskeptics.com...

Fractional Reserve Banking
Let’s see how the fractional reserve process works, in the absence of a central bank. I set up a Rothbard Bank, and invest $1,000 of cash (whether gold or government paper does not matter here). Then I "lend out" $10,000 to someone, either for consumer spending or to invest in his business. How can I "lend out" far more than I have? Ahh, that’s the magic of the "fraction" in the fractional reserve. I simply open up a checking account of $10,000 which I am happy to lend to Mr. Jones. Why does Jones borrow from me? Well, for one thing, I can charge a lower rate of interest than savers would. I don’t have to save up the money myself, but simply can counterfeit it out of thin air. (In the nineteenth century, I would have been able to issue bank notes, but the Federal Reserve now monopolizes note issues.) Since demand deposits at the Rothbard Bank function as equivalent to cash, the nation’s money supply has just, by magic, increased by $10,000. The inflationary, counterfeiting process is under way. The nineteenth-century English economist

Thomas Tooke correctly stated that "free trade in banking is tantamount to free trade in swindling."
www.thefreemanonline.org...

reply to post by burntheships


The situation is becoming dicey for the banks.

I am in NC and just finished talking to a lawyer in California about the predatory practices of my mortgage holder. I referred her to my lawyer here in NC for some examples. It looks as if they are thinking of a class action suit because of all the responses.

Expect Congress to rally round the bankers to "protect them" from the people they have systematically defrauded for a century.

reply to post by crimvelvet
I would suggest the possibility of bank runs also,when people like me panic.

reply to post by IAMIAM

FYI I was a Real Estate Broker in the State if NC in 2006. I got out when I saw how corrupt the system is.

Nice to see someone from the home state. I hope you are doing what I am. Educate yourself on the Fed Reserve and the Food Safety scams and then spread the word.
I go to flea markets and farmers markets on weekends and hand out index cards with titles to google:

"The Creature from Jekyll Island
Secrets of the Federal Reserve
"A primer on Money" Wright Patman

Nicole Johnson:
"History HACCP and the Food Safety Con Job
The Festering Fraud Behind Food Safety Reform.

John Munsell:
HACCP

I have done that for a couple of years and asked those I talk to to pass the info to ten friends. I am now running into educated people... IT IS WORKING!

reply to post by crimvelvet


Good to see you my friend. I am no longer in NC. I am, shall we say, travelling. I am taking a different path myself. Waking people to the power of love. We are gonna need to love each other and stop being divided to make it through the next couple years.

Check out my link at the bottom of my post "The Plan".

When the power of love is greater than the love of power, then the world will know peace. - Jimi Hendrix

With Love,

Your Brother

reply to post by jackryan12


Jack I know what you are going through. We were just through it. If you are in North Carolina or in California I can give you the name of a good lawyer to help straighten out the mess.
They are yanking you around on PURPOSE>
This website explains it here.

The lawyers I talked to in California I reach through this website. They maybe able to recommend someone.

Lanza & Goolsby has filed a class action lawsuit against EMC Mortgage Corporation...

It is estimated that the class may include hundreds or thousands of California homeowners who were victims of EMC's fraud - while struggling to keep their homes through this recession.

Contact Lanza & Goolsby | 888-244-3934 (toll free)

Any witness with knowledge of deceptive or unlawful loan servicing practices - whether through EMC or Chase - in addition to victims of such practices, are encouraged to contact Lanza & Goolsby by email or by phone toll free at 888-244-3934. This includes anyone with relevant knowledge, including former employees of EMC or JP Morgan Chase. www.givemebackmycredit.com...

Web of Debt may also be able to help. www.webofdebt.com...

reply to post by JonInMichigan


Everyone should go back and read this post...read it again and again and again.

Because this is exactly what you guys are talking about...stealing...but you think it is ok because it is from the "evil banks".


JonInMichigan...you are dead right. And I agree with you...these people are pathetic and just looking for a freebie.

I don't really know why I am wasting my time...I hope most of them do lose their homes...except that then we would have to hear them cry about it when they make a thread on ATS about it...and of course who will they blame...not themselves....the "evil banks".

Originally posted by chiponbothshoulders
reply to post by carlitomoore

 

Consideration is being presented with something of value in a trade for another thing of value.

When you take out a mortgage,your house is used as consideration.

It is coming to light,finally,that people are being sold something and paying consideration toward it's ownership,without EVER really being able to own that which they are paying for.

The problem runs much deeper than the banking system.

I look forward to the implosion,I don't own anything anyone else holds an interest in.

Except my body.

But wait..............

You are correct

anyone who thinks that they OWN anything should have a better understanding of

eminent domain laws

reply to post by XPLodER

just remember who caused this banksters and politicians

YES and make sure you let everyone else know it. If there is one thing that can unite the "left" and the "right" it is hatred of the SCAM by the banksters known as the Federal Reserve ACT of 1913.

reply to post by crimvelvet


Its sickening. Its just like that too just exactly what Dick Durbin blurted out.

Wall Street Owns Congress

reply to post by chiponbothshoulders


Luckily I am a small business person. I am making sure I keep as little in the banks as possible. Unfortunately you then run into the problem of Civil asset forfeiture.

Incredible as it sounds, civil asset forfeiture laws allow the government to seize property without charging anyone with a crime...

Under civil asset forfeiture laws, the simple possessoin of cash, with no drugs or other contraband, can be considered evidence of criminal activity.

"Even if you're a law-abiding citizen who's never been convicted of a crime, local police are allowed to confiscate your property and money and keep up to 80 percent of it for themselves, with the legal stipulation that this windfall be spent only on programs likely to result in additional confiscations where the police can keep up to 80 percent of the booty for themselves,"

"Civil asset forfeiture has allowed police to view all of America as some giant national K-Mart, where prices are not just lower, but non-existent — a sort of law enforcement 'pick-and-don't-pay.'"
—U.S. Representative Henry Hyde,
www.fear.org...

The last thing the Bankers want is an underground economy where the cash does not go through them. The Fed gets all our personal taxes and any money we deposit in a bank they multiply through Fractional Reserve banking.

Paying CASH kills banks, Credit Cards feed them.

reply to post by crimvelvet


You are correct

The only entity that OWNS anything in the US is the Federal Government

And they more or less own ALL of this country
that is real and private property

But in all actuality they hold the US in a trust for the Banksters

This is all a product of the implosion that was called the great depression

PEOPLE

there is a HUGE difference between private property and ownership of property

Even if the property is private
99% of the time the OWNERSHIP of the mineral rights is NOT with the
holder of the fake title

This is one of my top 5 favorite threads of all time

What does all this mean?

People who purchased homes they can't afford have and created this foreclosure problem are going to try and get their homes for free?

I hate the things the banks do but seeing people cheating the system at the cost of all the taxpayers in America upsets me even more.

Just like the auto industry, Wall Street, and everyone other person or group who made poor financial decisions, they need to deal with it. Your mistakes should not cost me money.

I am not rich, lower middle class to be specific, and nobody is bailing me out. I have not stopped paying my rent and I am not trying to get my home for free and I don't think anyone else should either.

Personally I think anyone attempting to seek a free title to their home is going to end up losing when it is said and done.

Originally posted by sdocpublishing
What does all this mean?

People who purchased homes they can't afford have and created this foreclosure problem are going to try and get their homes for free?

I hate the things the banks do but seeing people cheating the system at the cost of all the taxpayers in America upsets me even more.

Just like the auto industry, Wall Street, and everyone other person or group who made poor financial decisions, they need to deal with it. Your mistakes should not cost me money.

I am not rich, lower middle class to be specific, and nobody is bailing me out. I have not stopped paying my rent and I am not trying to get my home for free and I don't think anyone else should either.

Personally I think anyone attempting to seek a free title to their home is going to end up losing when it is said and done.

You've already been cheated.

Getting the home for free is akin to taking your money back.

In case you missed it, the banks got paid for those homes with your tax dollars already.

Originally posted by EartOccupant

This is gonna be big,

I think the only way this can be "saved" is to pass a special law.

Somehow i just hope the whole banking and housing systems collapse.

I can picture it now Bernanke and Paulson walk into Congress and say, "We need 5 Trillion dollars" by the end of business tommarrow afternoon and a new law to protect the banks or you're all gonna die.

Warren Buffett for President.

Some of the confusion here, especially with the folks that feel "they" will come and get you if you don't pay, is the fact that contract law is not understood.

Contract law is the law of both the world and to some extent consciousness at large. Simply stated, to get something you must give something, and the deal must be VERY clear to all parties involved with no effort to deceive included.

Most folks believe the bank lends you money and you sign and contract, a contract you can't understand and don't have time to fully read, that says you'll pay them back with interest. Fair enough, but that isn't how it works, that is a lie.

The bank has nothing to lend you, nothing at all. They have 1 million in deposits, but magically loan out 100 million in mortgage debt - how does this happen? It doesn't. What you sign is actually an agreement to pay them money, they never agree to loan you money as they don't have it. Again, they can't agree to loan you something they don't have, so they con you into agreeing to pay them money back for the nothing they loaned you. There is only one bank, the digits moved in the accounting ledger is between offices within the same bank - the central bank, and really goes nowhere despite what you see. This is fraud. Even worse, look at your "20 dollar bank note" is says right on it - this is debt, not credit.

Now. If you went to a chain store and bought a tv and returned home to find the box was empty, you'd head back as the contract was invalid - your money for an empty box invalidates the contract. You'd be furious and demand the TV or the money, and you'd be right. Now, what if the store never had any intention of giving you a tv, they only sold you the tv box so they could charge your credit card so the could gamble with the money while you were still figuring out the box was empty? They hoped you'd never notice, but if you did, they'd give the one tv they had to you and sell the next guy the empty box - hoping he'd never notice. That's a ponzi scheme, illegal EXCEPT when a bank does it, then it is call economic growth and is good for the economy.

BUT, for some reason when same said action takes place with a home, people start with the "well it isn't the bank's fault, people knew what they were doing..." Wrong, most people don't, and while ignorance is no real excuse, ignorance taken advantage of by those who are not ignorant is fraud. Let me say this again. The banks know what they are doing, I have an internal doc from the Fed which describes in great detail what they do. They know full well, and they do every they can to prevent you from knowing. How many classes did you have in grades 1-12 on fiat currency, fractional reserve lending, the basics of contract law, chain of custody and the ramifications on agreements concerning real property. NONE! Why not as this information controls your entire life? This was done by design, and remarkably when you buy a house they don't go over it either. They lie to you on purpose, fraud, for no other reason then to control you. Cool isn't it?

To believe that contract law is important is to not give the banks a pass simply because they help you get a house. They don't help you get a house, they stand in between you and the house and demand you pay them or not get the house. You can't let them do fraud because it means you get a house, fraud is fraud. This is the point being made, fraud is fraud. A bad check written by Joe at the tv shop is just as much fraud as the bank writing you a bad check for your home.

There is a way to get money without the fraud, to some extent Muslim law provides for this - why do you think they are despised (all axis of evil countries are non-central bank countries) and we will do just fine without the banks fraud as the primary way to get a house. In fact, all religions ban usury, but all countries do it but the axis of evil countries - death to them right?

I would like to add that I think the reason for the stoppage on foreclosures has little to do with this. What is happening is an attempt to stop the total collapse of the global economy. By holding things up, and allowing people to remain in their homes, they keep money flowing in the non-banking economy a little bit longer. This is not altruistic, this is self preservation of the worthless dollar.

Study contract law a bit, just the wikipedia page will do. Notice how contracts are voided, notice that this totally and must apply to banks to, regardless of the service they provide. Study the basics of fraud, it is easy to see what is going on when you do. To give the banks a pass is to have them control you by simply agreeing to pay them to commit fraud upon you.

reply to post by mnemeth1

Besides trying to get your home for free there is another reason to request your original note. Homeowners have been faced with multiple problems from the banksters. There have been cases where homeowners were making proper payments and a different bank claimed ownership and filed default. There have also been cases where homeowners actually owned their homes free and clear and a bank would foreclose and evict. The banks committed fraud when they securitized the loan. Its like they sold the home twice. They received money when they made stock out of the loan. They were also paid by the government and the Fed. Now they want to foreclose on property they do not own to receive more money. Insurance companies who insure your mortgages are now saying they can not insure the paperwork. In other words if you recently bought a home you may not own it. Every homeowner, everyone who has a mortgage, and everyone who has been foreclosed on has an obligation to find the original paperwork and sue the banks for fraud.

"Sick Of Paying Your Mortgage? You May Not Have To Pay!"

It sounds like one of those ADs from a company saying that you can settle you IRS tax at 10% of the original.


Fact is, you borrowed money at set interest for 15-30 years.

You have to pay it back because it's BORROWED.


There are many people out there who shouldn't have bought $300,000 homes for a family of 4 at $50,000 annual income.

Originally posted by OutKast Searcher
And you have heard of this happening....how many times???

The truth (which if you didn't know must be SELF EVIDENT) is out there once the BS has been receded.
It is irrelevant if public opinion (i.e, the masses) feel the same as yourself because *you* do not know how
the system actually functions and because you don't most of if not all posts by you are
-speculative
-conjecture
-opinions not backed by FACTS...

Look here for an example:

Originally posted by OutKast SearcherI don't think this is a big issue right now...in fact I don't think it is an issue at all.

I laugh out loud at the fact, you feel your opinion repeated somehow converts it to fact!

Originally posted by OutKast SearcherThe only reason this is getting any attention because some houses being foreclosed on have gone through foreclosure before the bank actually had the note in hand...doesn't mean they never got the note...they just went ahead with the process before properly getting it.

There is no epidemic of missing mortgage notes...people need to calm down.

(1) Situations can only be adjudicated on a case by case basis (FACT)
(2) There is no way of knowing the actual statistics involved unless the person who is genuinely in danger
......of defaulting does his/her due diligence. In other words generalisations mean nothing here.

What you fail to realise is that THIS issue has been an issue since it had been discovered (years ago)
how the banks work...how they play with people's securities, assets, and monies via the derivative
market and other undocumented methods...

Lastly, when a bank, or creditor who created the debt out of a promise to pay (a signature)
coupled to interest with the inherent principal owed to the creditor, it can be said it is highly
likely the bank/lender double dipped, sold the debt and made an additional profit on it...

While this cannot be proven (because banks feel they CAN do this illegal act)
the real proof is in silence, acquiescence and tacit agreement when YOU, demand
to see the original debt instrument created when you signed.

When and (most likely) if the bank did sell the debt it is stamped and transferred to the new
supposed "Creditor." This means it could NEVER be proven in court that the new creditor
IS the creditor because they are NOW the 3rd party.

Since the judges are actual lawyers themselves it is quite conceivable they have a vested interest
to uphold statutes, codes and in this case real estate law.

Hence when you are due in foreclosure court YOU, being the actual creditor
demand to see the ORIGINAL DEBT INSTRUMENT...

A copy in law is a forgery and a judge will accept a forgery if the bank cites it was
"lost or stolen." And they do this all the time...

Henceforth, demanding the original would prove this bank/lender never had the authority
to seek repayment as a creditor... (FACT)