It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Sticking it back to the Banksters - Ankeny Iowa couple gets a house free via 123 yr old law.

page: 1
3

log in

join
share:

posted on Mar, 19 2011 @ 09:32 AM
link   
In view of so many people getting their homes foreclosed on, I couldn't help but chuckle at a story in the Des Moines Register about an Ankeny Iowa couple using an old law to void their mortgage, - and no kidding - were given their $278,000 home (an expensive home by Iowa standards) free and clear.

I thought I would post it because 1) if your home is in foreclosure, it may be worth checking to see if there any loopholes to use in your favor where you live, and 2) like I said I thought it was funny that a mortgage company got a taste of their own medicine.

I SUCK at posting links....
www.desmoinesregister.com...

Can anyone assist me?

HERE IS THE FIRST PART OF THE ARTICLE:

Talk about sticking one to the bank.

Matt and Jamie Danielson own their $278,000 Ankeny home outright, and paid almost nothing for it.

A hasty home-loan approval and a 123-year-old law that requires mortgages be signed by both spouses helped the couple fight foreclosure all the way to the Iowa Court of Appeals. They won, and though they made only one payment to lender Citimortgage, the mortgage is now void and they get to keep the home.


As a follow up - there have been subsequent articles accusing this couple of unscrupulous activities in the past.
edit on 19-3-2011 by liveyourlife because: spelling correction

edit on 19-3-2011 by liveyourlife because: spelling correction




posted on Mar, 19 2011 @ 09:49 AM
link   
I say good on 'em. At least I know one couple now in the world that got something outta the banks. Sorta makes me feel better.



posted on Mar, 19 2011 @ 09:57 AM
link   
Yes - I felt pleased about it too. It's funny how the mortgage company didn't like having the tables turned on it.



posted on Mar, 19 2011 @ 10:01 AM
link   
And here is the article in today's Des Moines Register - the outrage!

www.desmoinesregister.com...|topnews|text|F rontpage



posted on Mar, 19 2011 @ 10:28 AM
link   
reply to post by liveyourlife
 


oh those evil mortgage companies...good thing they exist or else I wouldn't have a home....



posted on Mar, 19 2011 @ 11:11 AM
link   

Originally posted by freedish
reply to post by liveyourlife
 


oh those evil mortgage companies...good thing they exist or else I wouldn't have a home....


And they love you for it! Make sure you don't miss a payment or you'll see that they aren't quite as loving as they are when you first sign up to pay 4 times what the house is worth over a period of 30 years.



posted on Mar, 19 2011 @ 07:42 PM
link   
Much as I like this story, the one in Utah gave me the most satisfaction since they used the MERS system against itself.

wfhmcaught.blogspot.com...



posted on Mar, 19 2011 @ 08:02 PM
link   

Originally posted by bozzchem

Originally posted by freedish
reply to post by liveyourlife
 


oh those evil mortgage companies...good thing they exist or else I wouldn't have a home....


And they love you for it! Make sure you don't miss a payment or you'll see that they aren't quite as loving as they are when you first sign up to pay 4 times what the house is worth over a period of 30 years.


not saying they are a loving group of people...they are just as greedy as most other companies...but the fact remains- they allow for low income families to afford decent houses.

sure you are a slave for the rest of your life, but at least your a slave living in a decent place



posted on Mar, 19 2011 @ 08:17 PM
link   
Wait for the comments saying these people are crooks for using the system to get something for free!
Totally ignoring the fact the system allows banks to create money they lend out from nothing, and make money off it - that is also using the system to get something for free. Good to see people using the rules in the same way they do.



new topics

top topics



 
3

log in

join