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

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posted on Oct, 12 2010 @ 08:24 PM
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ZeroHedge found a Citi document on scribd talking about this mess. Denninger referenced it at Market Ticker and it seems as bad as I think it could be.


In the best-case scenario, the banks are lying (again) and it will take a year to sort out (during which time they will bleed like a stuck pig on their servicing costs and obligations.) In the medium scenario they get sued to Mars and, which he didn't say but I will, all wind up eating the bad paper which forces them into resolution - shareholders are wiped out and bondholders take a nice chop-chop. And in the worse-case scenario the title companies say "fuggit" and it all blows up instantly.


From MarketTicker

Alleged Citigroup document on Scribd

Make sure you read the document on Scribd. That is apparently the summary of a conference call that included a Law professor that Citigroup had this week.
edit on 12-10-2010 by jefwane because: (no reason given)




posted on Oct, 12 2010 @ 08:32 PM
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It is going to be a bloodbath.
2011 is going to be a year for the ages, mark my words. The financial hurricane will lay vast areas to waste. The young people are going to get an education, the kind they simply cannot teach in schools because no one listens to the old folks.
The worst traits of the human character will be on full display across the board.



posted on Oct, 12 2010 @ 08:42 PM
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I signed a contract agreeing to Terms & Conditions to pay back a loan/mortgage. Oh, I was just too dumb and didn't really know what I was doing and the mean 'ol bank just took advantage of me and my ignorance...yeah, right. I give myself more credit than that.



posted on Oct, 12 2010 @ 08:51 PM
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reply to post by OutKast Searcher
 


Hindsight is always 20-20, but before all of this mess started coming out, how many of us knew how crooked the banks really were? Very few people knew what was going on behind closed doors and didnt start questioning the big banks until AFTER thigs started going south. So yes you are right in saying those people 'VOLUNTARILY' walked into those agreements, but how many knew that the banks were overly taking advantage of people and their situations for money (or better yet GREED), so I say, screw them like they screwed us, or do people just feel good enpowering those who enslave us. After all, when people are being unfairly taking advantage of they tend to revolt, and its usually for something better, I could see this scenario likening to a bank revolution, let them know that since their actions were qustionable at best, we have the right to turn the tables on them.

Look at it this way, the justice system expects you to know all of the laws, so as not to break them, and knowing that most people cant, wont, or are incapable of learning every law (even lawyers need libraries to keep up with all of the laws) they know they have a steady source of income. The banks acted the same way, they knew most people would be unable to check every aspect of their life to monitor exactly where they were being taken advantage of, and capitalized on that fact.

Every human cannot be expected to know every little thing about every little aspect of life and its various business practices. If we did, we would all be completely independent simply because we would know everything about everything, and thus have no need for our fellow brethern to assist us, or excel in a particular area.

Do you check out everything around you and how it comes to be a part of your life? Question everything, how your food is manufactured, where your gasoline comes from, where your taxes go, how they calculate the taxes you pay, how safe is your vehicle, do your children go to a good school, is there a child predator hiding among the little leauge spectators, what is the pollution like in your area, it would be literally impossible to satisfactorily research every aspect of our lives and be confident in our decision making choices.

These last 2 paragraphs were to abate the argument of 'knowingly walking into a situation', it was just an unfair scharade to begiin with, so nobody really owes them anything if they cant even produce what it is that you owe them.

And just for curiosity purposes, how do they re-obtain a mortgage note that they already sold-off. Buy it back from the investor to sell again? That just doesnt make sense to me, didnt they already get their money owed on the mortage when they sold it in bundles in the first place? and shouldnt it be the responsibilty of the new owner of the note to seek collection?



posted on Oct, 12 2010 @ 08:59 PM
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Originally posted by phishfriar47
reply to post by OutKast Searcher
 


Hindsight is always 20-20, but before all of this mess started coming out, how many of us knew how crooked the banks really were? Very few people knew what was going on behind closed doors and didnt start questioning the big banks until AFTER thigs started going south. So yes you are right in saying those people 'VOLUNTARILY' walked into those agreements, but how many knew that the banks were overly taking advantage of people and their situations for money (or better yet GREED), so I say, screw them like they screwed us, or do people just feel good enpowering those who enslave us. After all, when people are being unfairly taking advantage of they tend to revolt, and its usually for something better, I could see this scenario likening to a bank revolution, let them know that since their actions were qustionable at best, we have the right to turn the tables on them.

Look at it this way, the justice system expects you to know all of the laws, so as not to break them, and knowing that most people cant, wont, or are incapable of learning every law (even lawyers need libraries to keep up with all of the laws) they know they have a steady source of income. The banks acted the same way, they knew most people would be unable to check every aspect of their life to monitor exactly where they were being taken advantage of, and capitalized on that fact.

Every human cannot be expected to know every little thing about every little aspect of life and its various business practices. If we did, we would all be completely independent simply because we would know everything about everything, and thus have no need for our fellow brethern to assist us, or excel in a particular area.

Do you check out everything around you and how it comes to be a part of your life? Question everything, how your food is manufactured, where your gasoline comes from, where your taxes go, how they calculate the taxes you pay, how safe is your vehicle, do your children go to a good school, is there a child predator hiding among the little leauge spectators, what is the pollution like in your area, it would be literally impossible to satisfactorily research every aspect of our lives and be confident in our decision making choices.

These last 2 paragraphs were to abate the argument of 'knowingly walking into a situation', it was just an unfair scharade to begiin with, so nobody really owes them anything if they cant even produce what it is that you owe them.

And just for curiosity purposes, how do they re-obtain a mortgage note that they already sold-off. Buy it back from the investor to sell again? That just doesnt make sense to me, didnt they already get their money owed on the mortage when they sold it in bundles in the first place? and shouldnt it be the responsibilty of the new owner of the note to seek collection?



posted on Oct, 12 2010 @ 09:01 PM
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The answer is Yes- I know what I am getting into when I sign my name to something, especially something as important as the biggest loan of my life; a mortgage.



posted on Oct, 12 2010 @ 09:07 PM
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WoW! This is how the system implodes! The trigger was the same deriatives bundles that they created to steal it all! Beautiful, what a move by the positive side. Do the negatives have a move to counter? ....Yes, I think they do...the game continues. Namaste.



posted on Oct, 12 2010 @ 09:24 PM
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Check out how all the Agent's of the Matriz jumped on this one! Disinfo galor! Dear OP, you. Struck the MAN across both carotids. Both severed arteries spurt. The whole system has suffered a rapidly fatal wound. The Beast has been slain! The people are free! YOU are their CHAMPION!!!!!



posted on Oct, 12 2010 @ 09:24 PM
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reply to post by queenofsheba
 


Can you be more specific on what you are saying 'yes' to. I dont want to assume you were referring to me when you werent, and I would like to know if you were responding to my post so i can respond in kind. I got the impression you were saying 'Yes, I check everything out in my life, especially my mortgage because it was so important'. I would also like you to explain your viewing of the other parts of my post, i think its a little more complicated than just a yes i thoroughly checked out my bank. Also, I am curious as to if you retained the assistance of a lawyer in the matter of said mortgage. I would tend to look at lawyers as criminals as well, its actually a nice little racket the justice system has going. Make laws that take peoples freedoms and make so many of them that they need the assistance of third party interpreters-like lawyers (gotta look out for the pockets of the ones electing and doing business with the judges behind closed doors), and ultimately get money for the state and federal government as well as looking out for their own personal interpreters (again the lawyers, and when have you known it to be a regular practice for lawyers to do massive amounts of pro-bono work, i always thought they became lawyers specifically for the money---i think thats a pretty accurate stereo type in this instance)

Is anyone else beginning to see how EVERYTHING in our life is tied together in one big cluster-f**k. Between just the banks and the justice system, those are 2 pivitol institutions that are participating in criminal activity, how many other major institutions are doing the same? FDA and Big Pharma? Federal Reserve? War on Drugs? War on Terror? Global Warming? Military Industrial Complex? Can anyone guess who has their hand in all of the things I mentioned---------Governemnt----------thats who? So my deductions point me in the direction of them being the criminals and unfortunately i dont feel like i owe a criminal anything, much less any more of my hard earned money. So when you lay in bed with criminals (Its hard to argue that banks and government werent sleeping together) expect to be treated like a criminal, and dont expect the innocent to owe you a damn thing


On a side note, in case i misinterpreted your post, I dont mean this as a personal attack on you, this response was made 'assuming' that was your reponse, and was posted because i know there would be somone out there to defend the position i argued against anyway. Also, for the record, I enjoy playing devils advocate even if my reponses dont fully reflect my own personal opinions or beliefs.



posted on Oct, 12 2010 @ 09:38 PM
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Hey listen if you are current on your mortgage you should be just as interested in this as someone teetering on the brink of foreclosure. I imagine everyone wants a clear title when they pay it off or attempt to sell it. There is a high probability that they've screwed that up for alot of real estate transactions over the past decade.

I personally think I'm in pretty good shape there. Bought less than we could afford at the time, VA so no PMI, only changed servicers once since we had it. But just because Chase services my mortgage doesn't mean it hasn't been traded amongst the funds and trusts that they are servicer for. I'm pretty damn curious just who owns it. I'm in the process of a Refi, but I might put that on hold till this plays out.

I digress. Focus on the fraud and it will lead you to a realization that a few people MAYBE getting clean title to homes they didn't pay for is truly minor considering the level of fraud hoisted on the taxpayer by this industry and it's paid whores of both parties in office over the past decade. I will make a prediction while here. If this thing is allowed to unwind further we will find that in certain MBSs and othe structured products, the same mortgages held by different trusts at the same time.



posted on Oct, 12 2010 @ 09:41 PM
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So..... Obama refused to sign HR 3808, and "pocket vetoed" it instead. source

"Interstate Recognition of Notarizations Act" would have given banks authority to create any document they want, and get it notarized, and a court would have to accept it!

They were trying to pull a fast one! The bill slips through the Senate and House quietly and goes to Obama's desk and sits there. Then the news breaks about the banks creating fraudulent documents.

Boy oh boy... I'll bet the banks are really mad at Obama now. Pretty guttzy thing to do Obama!



posted on Oct, 12 2010 @ 09:47 PM
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Originally posted by OutKast Searcher

I don't know why anyone would...but just in case...PLEASE people...DON'T listen to the OP.

Because once they find the original note...you will be defaulted...and trust me...they WILL find the note.


It's a simple question.

Produce the mortgage note.

If you are gonna foreclose on someone, produce the piece of paper, otherwise it is an invalid debt. At the very least the lender should be penalized for being incompetant, if they are unable to acurratly keep and store records. They're banks for christs sakes. And they can't keep track of thier paper numbers?


Attempts to collect on an unvalid debt should be considered illegal and there should be penalities assessed to the collector who is actually involved in criminal fraud and rackateering.

Please see RICO statutes.
edit on 12-10-2010 by In nothing we trust because: (no reason given)



posted on Oct, 12 2010 @ 09:52 PM
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Originally posted by sodakota
So..... Obama refused to sign HR 3808, and "pocket vetoed" it instead. source

"Interstate Recognition of Notarizations Act" would have given banks authority to create any document they want, and get it notarized, and a court would have to accept it!

They were trying to pull a fast one! The bill slips through the Senate and House quietly and goes to Obama's desk and sits there. Then the news breaks about the banks creating fraudulent documents.

Boy oh boy... I'll bet the banks are really mad at Obama now. Pretty guttzy thing to do Obama!


This is probably the only thing I will ever give Obama credit for.

Funny thing is how a pocket veto is basically letting a bill sit on the desk and "expire." Maybe Obama should just consider doing nothing for the remainder of his term and maybe something good will come out of it.



posted on Oct, 12 2010 @ 09:55 PM
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Has anyone thought that this site might NOT EVEN BE LEGIT??

Why would you give out your personal info to that site?


Why not just call your mortgage company? They can tell you who has it, or refer you to the company they think has it, and so on.

Cmon people, wake up!!
edit on 12-10-2010 by GOD HIMSELF because: (no reason given)



posted on Oct, 12 2010 @ 10:00 PM
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reply to post by Blaine91555
 





-Your credit will be ruined.


definitely not true
this is the entire idea behind the process of bankruptcy
i know plenty of folks who defaulted on loans and still have everything that you said would be lost




-You will be evicted.


this could or could not happen
i have been living in the same place for the past year rent free and BOA holds the note on the place that i have a lease on
the original owner defaulted but i cannot be kicked out

since i knew the original owner i knew that he defaulted a year ago and i stopped paying rent to HIM

if someone is an owner then the original note has to be shown before the eviction process starts and then the individual has 90 days to get out after being served with the note stating that the eviction process has started

and it must be sent to said lessee or owner via certified mail

if its not certified its not legal

once the eviction notice is given and recognized by certified mail then the said individual has 30 days

this is a small price to pay for taking back what was just stolen from all of us US citizens in my opinion




-You won't be able to get a credit card.


definitely not true

ask anyone who knows the credit game

its all about the credit score and people can have a bankruptcy and a default on their record and still have a 700 credit score

the score is based upon what the credit agencies think that a person is able to continually pay in a month

and hospital bills and student loans are rarely if ever scrutinized




-Liens will be placed on what you do own.


You have absolutely no idea what you are talking about

Liens are only placed upon someone in very dire circumstances and rarely if ever does it happen on a defaulted loan

This statement is poppycock

The rest of what you say is drivel

PEOPLE I AM LIVING PROOF THAT THIS IS REAL AND CAN BE EFFECTIVE IF GONE ABOUT CORRECTLY

The only people that are missing out are the people with LOTS of money

Start the revolution

But do it with intelligence

Hit em where it will hurt the most

In their wallet



posted on Oct, 12 2010 @ 10:01 PM
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It's a simple question.

Produce the mortgage note.



And the banks will produce the note.

Or they will pester Congress until a law is passed that makes up for producing such a note.

Or they will forge the note and make you (spend thousands of dollars) prove that that it is a forgery all in front of a banker sympathetic judge.

Using this issue is a poor excuse not to pay a bill.

Better to just flip off the bank and say you are too poor to pay, at least this puts hardship into the equation and makes it less likely for a future lawsuit.



posted on Oct, 12 2010 @ 10:06 PM
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Sites legit it is the SEIU. Huffpost and others are linking it. Still i'd make some fake stuff up for putting in the info then when printing it out copy pastw everything except the fake adress, then insert your address and send. I personally don't want to be on any SEIU mailing list. I saw a lady who was and SEIU member who made $9 an hour and had no medical insurance, "Why in the hell are you in a Union then you can get a job like that without paying dues?"



posted on Oct, 12 2010 @ 10:08 PM
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This is all a big shell game anyway, with the little people being cheated the most. The banks have dumped every bad mortgage they can on Fannie and Freddie and gotten TRILLIONS from the Federal Reserve, but no one talks about this.

It's the common people who haven't gotten a bailout, but the banks are still using collection agencies to wring whatever they can from the small people, even though they have already been bailed out on everything.

What people need to do here is just go on a mortgage strike, since the whole system is just a big scam and rip off.



posted on Oct, 12 2010 @ 10:11 PM
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Originally posted by OutKast Searcher
It may take years before this is resolved.
Possible...but they WILL resolve it. That is almost certain...they WILL find that note.

Here is an idea people....PAY YOUR MORTGAGE. You know...the one that you signed 50 papers for saying you will pay it...the one that you intentionally got into...the one that has allowed you to live in a house that you could never afford paying in cash.

Responsibility people...stop looking for a free ride and just be responsible.


You must be one of the MOST misinformed people I've ever come across with regard
to this topic. Instead of providing empirical evidence (that you do not have) you seek to
insult other people via a passive aggressive persona within this thread.

I will now inform you of what you don't know:

-A contract in order to be lawfully binding MUST fully disclose ALL of the particulars...
-IF it does not, nor ever did the contract is void.

If the original lender sells the debt to another party...The new party becomes the 3rd party...
and NOT the creditor, furthermore, the other party (homeowner) never chose to willingly allow
the debt to be sold to ANOTHER party -meaning the contract has been amended without the
homeowner's approval. In other words the debt has been paid by the 3rd party.

It is the same as with a collection agency. (who is ALSO a 3rd party)
Just thank them for paying off your debt. They cannot prove you owe them.
Banks routinely bundle up securities, buy and sell them...and create money out of thin air (FACT)

The original lender never gave up the money to give to the homeowner to get the home in the 1st place.
In a contract something must be given by both parties...



posted on Oct, 12 2010 @ 10:18 PM
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While the poster above me may be right, I am sure in all those documents that you signed, you gave away the right for the contract obligation to be sold to a 3rd party.

As for the website,...legit or not, it is easier just to call and get the info, then you really dont have to worry or..... worry.

I had to call for my parents mortgage a couple years back and got everything squared away for them.

Again, regardless of how the financial industry screwed the USA, it is best to continue to try paying, because, again, they will find it.

In the end, you will end up owing said amount, and of course, damage to your credit profile (if it isnt already damaged).
edit on 12-10-2010 by GOD HIMSELF because: (no reason given)
edit on 12-10-2010 by GOD HIMSELF because: (no reason given)






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