LAWYER BONANZA!: Wells Fargo Foreclosing on Homeowner Who Made all Payments and Paid Extra


The simple truth is that the banks are not nearly as interested in the property as they are in the foreclosure. It is the foreclosure sale that creates the illusion of a stamp of approval from the state government that the entire securitization scheme was valid and it creates the reality of a presumption of the validity of the deed issued at the so-called auction of the property upon submission of  false credit bid from a non-creditor who is a stranger (not in privity) to the transaction alleged. — Neil F Garfield,

see also

Editor’s Comment and Analysis: Wells Fargo is foreclosing on a man who has made his payments early and made extra payments to pay down the principal allegedly due on his mortgage. In response to media questions as to their authority to foreclose, the response was curious and very revealing. Wells Fargo said that the reason was that the securitization documents contain restrictions and prohibitions that prevent modifications of mortgage.

The fact that Wells Fargo offered a particular payment plan and the homeowner accepted it together with the fact that the homeowner made the required payments and even added extra payments, all of which was accepted by Wells Fargo and cashed  doesn’t seem to bother Wells Fargo but it probably will bother a judge who sees both the doctrine of estoppel and a simple contract in which Wells Fargo had the apparent authority to make the offer, accept the payments, and bind the actual creditors (whoever they might be).

It also corroborates our continuing opinion that when Wells Fargo and similar banks received insurance and creditable swap payments, they should have been applied to the receivable account of the investors which in turn would have resulted by definition in a reduction of the amount owed. The reduction in the amount owed would obviously decrease the amount payable by the borrower. If we follow the terms of the only contract that was signed by the borrower then any overpayments to the creditor beyond account receivable held by the creditor would be due and payable to the borrower. It is a violation of the spirit and content of the federal bailout to allow the banks to keep the money that is so desperately needed by the investors who supplied the money and the homeowners whose loans were paid in whole or in part by insurance and credit default swaps.

The reason I am interested in this particular case and the reason why I think it is of ultimate importance to understand the significance of the Wells Fargo response to the media is that it corroborates the facts and theories presented here and elsewhere that the original promissory note vanished and was replaced by a mortgage bond, the terms of which were vastly different than the terms of the promissory note signed by the homeowner.

Wells Fargo seeks to impose the terms, provisions, conditions and restrictions of the securitization documents onto the buyer without realizing that they have admitted that the original promissory note signed by the homeowner and therefore the original mortgage lien or deed of trust were never presented to the actual lenders for acceptance or approval of the loan.


In fact, Wells Fargo has now admitted that the terms of the loan are governed strictly by the securitization documents. How they intend to enforce securitization documents whose existence was actively hidden from the borrower is going to be an interesting question.  If the position of the banks were to be accepted, then any creditor could change the essential terms of the debt or the essential terms of repayment without notice or consent from the borrower despite the absence of any reference to such power in the documents presented to the borrower for the borrower’s signature.

 But one thing is certain, to wit: the closing documents presented to the borrower  were incomplete and failed to disclose both the real parties in table funded loans (making the loans predatory per se as per TILA and Reg Z) and the existence and compensation of intermediaries, the disclosure of which is absolutely mandatory under federal law. Each borrower who was deprived of knowledge of multiple other parties and intermediaries and their compensation has a clear right of action for recovery of all undisclosed fees, interest, payments, attorney fees and probably treble damages.

This case also clearly shows that despite the representations by counsel and “witnesses” Wells Fargo has now admitted the basic fact behind its pattern of conduct wherein they claim to be the authorized sub servicer fully empowered by the real creditors and then claim to have no responsibility or powers with respect to the loan or the real creditors (which appears to include the Federal Reserve if their purchase of mortgage bonds had any substance).

Wells Fargo, US Bank, Bank of New York and of course Bank of America have all been sanctioned with substantial fines of up to seven figures so far in individual cases where they clearly took inconsistent positions and the judge found them to be in contempt of court because of the lies they told and levied those sanctions on both the attorneys and the banks.

It was only a matter of time before this entire false foreclosure mess blew up in the face of the banks. You can be sure that Wells Fargo will attempt to bury this case by paying off the homeowner and any other people that have been involved who could blow the whistle on their illegal, fraudulent and probably criminal behavior.

This is not the end of the game for Wells Fargo or any other bank, but it is one more concrete step toward revealing basic truth behind the mortgage mess, to it: the Wall Street banks stole the money from the investors, stole the ownership of the loans from the “trusts” and have been stealing houses despite the absence of any monetary or other consideration in the origination or acquisition of any loan. This absence of consideration removes the paperwork offered by the banks from the category of a negotiable instrument. None of the presumptions applicable to negotiable instruments apply.

Once again I emphasize that in practice lawyers should immediately take control of the narrative and the case by showing that the party seeking foreclosure possesses no records of any actual or real transaction in which money exchanged hands. This means, in my opinion, that the allegations of investors in lawsuits against the investment banks on Wall Street are true, to wit: they were entitled to an forcible notes and enforceable mortgages but they didn’t get it. That is an admission in the public record by the real parties in interest that the notes and mortgages are fabricated because they referred to commercial transactions that never occurred.

Going back to my original articles when I started this blog in 2007, the solution to the current mortgage mess which includes the corruption of title records across the country is that the intermediaries should be cut out of the process of modification and settlement. A different agency should be given the power to match up investors and borrowers and facilitate the execution of new promissory notes new mortgages or deeds of trust that are in fact enforceable but based in reality as to both the value of the property and the viability of the loan. It is the intermediaries including the Wall Street banks, sub servicers, Master servicers, and so-called trustees that are abusing the court process and clogging the court calendars with false claims. Get rid of them and you get rid of the problem.

92 Responses

  1. By danger I mean the banksters destroyed our Securities. It was all done secretly so they could rob us into abject poverty and take the place over without ever firing a shot.

  2. The banksters railroaded a lot of people out of their properties with the short sale fraud. People were terrorized into believing that short sales were a better alternative than going to court and facing fc. I was appalled when the mainstream media sheisters were promoting people should just walk away from their “underwater mortgages.” No one in the media has told the truth about what the banksters really did was they destroyed our Securities.

    Therefore, this is a job for every American who knows the truth to expose this danger.

  3. UKG…. How are things going there? Great News Z…. Like I said… Keep your butt parked. A warning to all … A short sale is not an option on a gov insured loan unless you can warranty the title/deed. On the other hand if a third-party owns the debt (unsecured) ….. your options are many. Say Cheese….. 🙂

  4. poppy seed, you’re on the hook for maintenance and upkeep until ownership is transferred. banks walk away because the recovery value is not there. best thing you can do is STAY and DEFEND.

  5. Anyone have anything new on loan numbers or ‘instrument numbers’ changing when loan is supposedly assigned or sold?

  6. I for one am not embarassed to say I do believe a satanic cult has hijacked the country.

  7. I don’t know if you saw the movie Rosemary’s Baby Deborah but if you did, the doctor Rosemary trusted with her care was in the cult and part of the evil plan. Everyone might want to revisit that film. I see a lot of connections to that movie to what we are witnessing today. The so called lunatic fringe is not so looney if you get it but it takes an open mind.

  8. UKG says the fraudulently induced loan amount is RE-SECURITIZED? That is not legal and that is also criminal. That crime is being done with the intent to create totalitarianism….do permanent harm. An attorney told me not to sign or agree to anything regarding the banks debt because it is unsustainable. He told me the banksters are setting you up to fail by having you sign a new contract and you will fail & be kicked out of your home in 3 months because you signed a new contract.

  9. Deborah…the emergency room doctors are not the problem. They are utmost professionals from what I have witnessed thus far. They are doing their jobs but the private physicians are being complete assholes.

  10. Challenge their claims poppy….there aren’t enough of us who are holding their feet to the fire.

  11. Had court this morning on the issues. The judge was not there and the matters were continued until August. Both of my cases are continued to August which makes me wonder what in the hell they are up to. The substitute judge threw out a shitload of summary judgements by the banksters and said the reason being Illinois law now requires the banks give a reason for denying loan mods….cough, cough.

  12. @ DEB, yes, the modification amount is actually re-securitized. check the paperwork and you will see that you are re-affirming original paperwork, eliminating the original securitization and allowing you to sue the servicer directly under FDCPA (no right to modify). Not legal advice, not an attorney, but I play one at home.

  13. poppy, you’re getting there. now the trick is to put it into a pleading. If you contact me, I have something that may help you.

  14. @ Ian….

    Yup, got discovery and pow there it was. Actually 3 entities are listed as lender in my paperwork. Wells Fargo, RBC and New Century. Then Credit Suisse seized the loan, Deutsche Bank wired the money, so it says (don’t even trust that), from a private trust fund…OKAY!

  15. That is not the issue Deborah. The issue is criminal fraud by medical professionals who are denying patients medical care for deceptive reasons.

  16. stripes- question for you
    where would you go if you or your family were involved in a car accident with major traumas and head injuries. a million bucks worth of care- i guarantee the hospital would eat most of the bill if you had no insurance, AND the illegals, we dont turn them away, we spend that kind of money on them too, because, because THEY ARE HUMAN BEINGS, WE MAKE NO DISCRIMINATION , THERE WOULD BE MEDS INVOLVED TO SAVE THEIR LIVES. you generalize too much.
    im not saying that the drug industry and those who invest create so much money that they can help fund campaigns and give rise to special interest- this is a fundamental problem- problem is, at this day in this world-toda, does government as we know it meet the needs of society- rather- they are determining the needs of society. the minority is determining the needs and rights of a majority who think that they are being kept safe- that we agree upon.

  17. the first post on this thread by jordana
    takes me back 4 years and basically boils down to- or should I say blended down to- carrots become carrot juice- modified already- now how can you un-modify back into whole carrots – cant be done unless you buy new carrots, a mod is a new deal.

  18. The insurance companies are all crooks who are part of the commie regime. They don’t give a shit about anybody either except their investors. Don’t try to sell me the crap about the “do gooder” healthcare industry deborah or tell me I don’t know what I am talking about because they are all lousy liars for the most part out to make the most money they can. They can cure virtually every illness but they would rather treat the symptoms because that is how they make the most money for themselves and for the investors. These so called medical professionals are not upholding and oath to cure the sick like they claim….they are in fact refusing to cure completely curable illnesses and are making people sicker because they all work for the pharmaceutical industry and their Corporate investor whores. They are all greedy hogs who want to make everybody sick or sicker because there is more money in that.

  19. I call it as I see it from the trenches and this crap is really happening Deborah. It is not legal and it is inhuman and I blame the greedy investors who don’t give a shit about anyone. It’s all about control.

  20. Just listening to Bill Maher talk so matter of factly about commie crapola such as OBAMACARE is the so called law of the land ….when in fact, he is very deceptively trying to normalize commie crapola like Obamacare but he is so good at the art of the con it is almost undetectable….yes, that’s how they slip totalitarianism in under the radar ….He makes fun of the American people who do get it very subtly. He uses another context like IRS tax forms to infer those who don’t like Obamacare are trailer trash, racist haters who are nutjobs who love their guns and are nutty for trying to strike down fascist OBAMACARE for the 37th time….oh…ha..ha..ha..! Those silly people who “get it” are getting audited by the IRS…! Then CNBCs Andrew Ross Sorkin, one of Mahers guests was ignoring the ongoing Gazillion dollar bankster robbery by saying Obama is lowering the deficit by taxing the top 2%…Maher says laughingly…but the economy is getting worse…ha…ha…ha…! Then they throw in another useful idiot like S.E. Cupp from MSNBC to pretend she really knows what the Constitution means ..Then Michael Moore chimed in about the tea baggers who are secretly revolting on their taxes but strangely they don’t want us all of us to know about it! Not so patriotic of them right?

    Yes it’s more investor scamming from the media…trying to make us believe we should just accept totalitarianism or we are all freaking nuts.

    The communists are becoming more & more subtle in their propaganda but, when you get it, they can’t change the fact that you get it.

  21. Stripes stripes stripes
    Its not the medics/ its the insurance companies and the threat of false claims / that would cripple the Place, think,
    The insurance companies set the criteria of what tbey think THEY should or should not cover there are so many aspects to it i dont know it all and im professing to, but hold on there. Stick to what you know more about.

  22. How are the banks/servicers insuring our properties in our names when they have no legal liens? Isn’t that insurance fraud? These banksters are terrorists with insurance.

    Take for example those who are in desperate need of medical care are being denied Dr visits for months at a time because they can’t afford health insurance. These so called medical professionals are telling people such as seizure patients who have gone to the emergency room for grand mal seizures they have to wait 3 or 4 months to see a doctor. That is criminal and that is the face of OBAMACARE INVESTOR TERRORISM…These investor crooks are fascists trying to force us to accept OBAMACARE….GLORIFIED MEDICARE. OBAMACARE is the face of investor evil. There are numerous horror stories about what these so called medical professionals are doing to harm the American people even with insurance.

    I swear many of these so called professionals aren’t human or they are mentally ill. There is something radically wrong with these people and I firmly believe it has to do with these investors who have destroyed our Securities. No one is safe from the communist and their sick big ideas.

  23. Re irs
    Ever heard the term ” the wall street way”

  24. Ian, working a case just like it with CWF, AWL, CHLS, BAC, BANA, and BONY. having a great time.

  25. The real problem here in America is the Politicians are running a protection racket for the investors in all of the fraud and they are themselves investors. They are aiding & abetting felonies such as bank fraud and so much more like racketteering with our Securities. They are all fraudulent investors in Securities Fraud.

  26. Oops….meant to say how fitting Preet Bhararra brought criminal investigations against the Gambino & Columbo crime family bosses. He should have be very adept at going and getting the goods on the banksters who are their mentors.

  27. Where in the hell is U.S. States Attorney Preetinder Singh “Preet” Bhararra been since he was nominated by Obama and sworn into position on August 13, 2009…?

    He was assistant States Attorney in Manhattan for 5 years and brought criminal investigations against the bosses of the Columbo & Gambino crime families and Asian gangs in N.Y.C. How fitti

    Interesting and probably not coincidental he served as chief council for Senator Chuck Schumer (D) of N.Y. and played a leading role in the U.S. SENATE COMMITTEE Judiciary investigation into firings of U.S. attorney’s……

    Seems all of the Democratic roadblocks to impede criminal investigations of the bankster crooks are firmly in place….. READ ABOUT IT HERE….

  28. Carie- Re:1099a- I made the same comment 3 years ago about this. Also ties in with servicer inserting themselves as ‘mortgagee’ or ‘lender’ under First Loss Payee on homeowner’s ins policy. I refused to put them on as m

  29. Also from article I just linked:

    “Banks claim their losses to the Internal Revenue Service as debt cancellation and send consumers IRS 1099 forms, which must be reported on tax returns.”


    Okay, so—if my 1099A form states that the SERVICER is the LENDER—and they are the ONLY entity on that form stated as the lender—that means that the SERVICER (lender…not really) is claiming it as a “loss”, right?

    Yet I have a statement in writing (from the servicer) that the SERVICER (OneWest) “does NOT own your loan”….hmmmm…and the SERVICER also stated in writing that the “mortgage-backed securitization trust is the owner of your loan”…hmmm…

    IRS fraud, anyone? Not to mention a myriad of other kinds of fraud.

    Why are there no lawyers attacking based on this BS? I would think they would be interested in treble damages…


    “This bill will prevent undue hardship to taxpayers who would otherwise be subject to taxation resulting from having all of part of their loan balance on their principal residence forgiven by the lender…”

    Really? The “lender”? You mean junk debt buyer/debt collector of unsecured debt, don’t you? Did I miss something—-since when does “lender” mean third party debt collector…?

    Oh, right, I remember now…

  31. We need a real TEA PARTY ….we need to revolt on the property taxes and the mortgages and quit patronizing Corporate America. The banksters have rendered virtually everything we pay & spend into a tax they are pocketing.

  32. Poppy- do you have any info on New Century double-funded loans either from your own digging or from their ch11 procedures? do t know if you should be posting all that here though. Can give you my email if you’d like.

  33. @ ForThePeople ,

    link stopped working … just go to , select civil case records and search case # 2012-CA-013779-O ,, I’ll get copies of the complaints , answers and admissions tomorrow at the clerks office … This is the case Neil was referring to ,, person made all payments , many of them early and WF foreclosed and argues that the note is irrelevant,, the PSA is what controls …

  34. Neidermeyer, any hints? Plz…

  35. We need a global “bank run”…but—-how can we make that happen when these pathological entities just keep printing money…?

  36. My belief is this is all about fraudulent control of everything by our enemies. Control by investment fraud is their modus operandi. They have brainwashed the people into believing their lies and are using mind control to further their sickening agenda. The Gold, Oil and Drug barons are the thieves who put us here.

  37. It’s about time everyone got as mad as hell if for no other reason than, nothing these banksters/politicians are doing is legal.

    These are felons who are stealing from us so why would we lay down for any of this?

    In the beginning I heard rumors about the mortgage fraud and I began investigating. What I found out about this massive fraud was simply outrageous and absolutely disgusting.

    So, the question I have is, are these the people we want in control of our great nation that we built and paid for?!

  38. It is all about GOLD

  39. Oh E…did you know the $300 for your house is taxable?

  40. Spot on E….they are ALL sleeping comfortably with their “ill-gotten” gains. No one is safe. The pathological behavior is pervasive…this will continue with the continuation of 97-100% financing and sub-prime back and rolling out as we speak. IMHO this is to keep all of us, indentured slaves and must work, at any pay scale to pay off their debts.

  41. We watched and waited as the brave state AGs decided enough was enough, it was time to knock some banker heads. Thank goodness, at last, someone in law enforcement was paying attention. Iowa AG Tom Miller boldly proclaimed, “We will put people in jail.” Uh, well, he must not have been actually referring to the bank issues on the table at the time. Or maybe he was talking about the Mom and Pop his team busted for defrauding a bank, considered a high crime by AGs. Or just maybe it was the sheer coincidence that the FIRE sector increased their graft, uhm, their campaign contributions to Miller by 88 times his going rate once he announced his leadership of the AG investigation, up to over a quarter million dollars. Miller perfectly illustrates the old slam – IOWA, Idiots Outside Walking Around, only in this case he’s walking around outside with cash stuffed pockets. He got his, what’s his worry?

    But then the IFR came riding to the rescue. But quickly all was not as it seemed. The bankers had found a way, while propping up their own cloaked as OCC officials and pretend arm’s length consultants at the negotiating table, convincing everyone that the banker’s day of reckoning had arrived this time for real, that they would finally atone for their crimes. Yeah baby! Payback time! Uhm….$300? WTF? Regardless of house value, without any criminal proceedings, and only if you were in the proper date columns. Those raped prior to 2009, or after 2011 evidently deserved a good ass pounding since there was no talk of these people whatsoever. They might as well have held a bingo game, allotting the occasional lucky winner with petty cash and trinkets.

    Years have gone by with false promises and blatant disregard of high crimes and treason. Obama and everyone else within the beltway are simply stooges and sock puppets for Wall Streeters, constantly head jerking away from the Street every time they commit more crimes. And just like AG Miller, Obama et al have been handsomely rewarded with yet more years in office for aiding and abetting the criminality. They got theirs.

    Not since Manhattan was stolen for $24 has a land heist been so blatantly criminal. And for what it’s worth, according to some historians, the Dutch bought Manhattan from a Long Island tribe, a people not having any claim to the Manhattan property….sound familiar? Some things never change when greed and filthy lucre are involved.

    To quote Columbia University’s Professor Jeffrey Sachs, from his Philadelphia FED speech:

    I believe we have a crisis of values that is extremely deep, because the regulations and the legal structures need reform. But I meet a lot of these people on Wall Street on a regular basis right now. I’m going to put it very bluntly. I regard the moral environment as pathological. And I’m talking about the human interactions that I have. I’ve not seen anything like this, not felt it so palpably. These people are out to make billions of dollars and nothing should stop them from that. They have no responsibility to pay taxes. They have no responsibility to their clients. They have no responsibility to people, counterparties in transactions. They are tough, greedy, aggressive, and feel absolutely out of control, you know, in a quite literal sense. And they have gamed the system to a remarkable extent, and they have a docile president, a docile White House, and a docile regulatory system that absolutely can’t find its voice. It’s terrified of these companies.

    If you look at the campaign contributions, which I happened to do yesterday for another purpose, the financial markets are the number one campaign contributors in the U.S. system now. We have a corrupt politics to the core, I’m afraid to say, and no party is – I mean there’s – if not both parties are up to their necks in this. This has nothing to do with Democrats or Republicans. It really doesn’t have anything to do with right wing or left wing, by the way. The corruption is, as far as I can see, everywhere. But what it’s led to is this sense of impunity that is really stunning, and you feel it on the individual level right now, and it’s very, very unhealthy.

    I have waited for four years, five years now, to see one figure on Wall Street speak in a moral language, and I’ve not seen it once. And that is shocking to me. And if they won’t, I’ve waited for a judge, for our president, for somebody, and it hasn’t happened. And by the way it’s not going to happen anytime soon it seems.

    It’s time to start all over, without these people. REV 2.0

  42. These crooks are here to burn the place down.

  43. Well not so fast you dirty bastards. Show us some receipts that prove you paid off the loans you took in our names…. Oh that’s right, you are sheisters who don’t pay for anything and that means the investments you sold yourselves are worthless. Therefore, get the hell out of here before we shoot your asses full of lead.

  44. They want their complete communist, totalitarian takeover to be a secret because they are all nothing but a bunch of lying, sneaky, lowdown, filthy, lousy, stinking cowards who don’t own anything and don’t pay for anything. They don’t have the guts to tell us to our faces this is the endgame of their evil communist plan. For them it is more fun to deceive and use the art of the con to slowly and strategically steal it all from us.

  45. Yep…they won’t tell us it’s the commie Russians & the Chinese….the BRICS who stole our wealth….the Saudi sheiks, the Aldobrandinis and the Borgias, the Grays clan via the Vatican, and all their sadistic comrades like the Rothchilds, the Germans, the Royals in Britain the Duponts, the Crown family, and other rich assed commie traitor sob’s who can’t steal enough from us. The same old fascist, commie clan with a few more haters of freedom in the mix to up the ante. They all suck.

  46. I was doing my mandatory compliance test for my job as a registered nurse and I was looking at the false claims act- it is a huge fine for each violation and up to 6 (six) times damages, I believe (lay person opinion) that false claims applies- jhesus they got bailed out

  47. For the love. Its supposed to say. They had cause to know it was not exactly true. Thank you

  48. Carie
    That is how i beat them on tbeir motion to lift stay. Also they submit a oroof of claim
    Ya,ll check that. Evety word. Its entered into the record- died t mean irs true but it means tbey meant what they said , thru bavr cause to know ehst they said was not exactly ummm true

  49. They won’t identify the “investors” because they are simply junk debt buyers and the fraud would be exposed if they were identified…there are no “real” creditors.

    Like my friend said:

    “…with any debt collection — if the creditor is not identified (original to current) — you do not owe the debt to anyone. . Cannot pay anyone you do not owe. Cannot not emphasize enough — if wrong party is identified– you are never credited for paying — money just goes into a “Rabbit Hole.” And, with subprime refinance — these were just mods of already classified (default) debt — thus, not Notes at — unsecured. In fact, with any charge-off — unsecured debt.”

  50. They never want to tell us the identity of the investors. Funny they know everything about us. This is what these communists always wanted and these are the people the Vatican and the Founders always feared. These are the crooks who have hijacked the country.



    “If investments, the banks, plunge, this is a tragedy—if families are hurting, if they have nothing to eat, well, this is nothing—this is our crisis today,” Francis told the crowd, insisting that the true crisis is one of moral values.”

    Got that right, Mr. Pope…

  52. Our government thinks that people like that guy who died in court and all the suicides and all the people who have no job prospects and lost everything and have no where to live and are sick with despair are simply “collateral damage” of the greatest financial crimes in history…with the perpetrators still nowhere near being in prison—hell, they still get bonuses for their next yacht!!

  53. “pooled, securitized and sold to investors…”

    The “investors” in that statement are…? Give me names, please.

  54. Our hard earned money went to the banksters. The FED, a third party, intentionality destroyed the contracts at the Origination and collected all of our payments as usury that was excessive and abusive. After The FED defaulted to the Treasury in our names, without notifiying us they altered the original contracts, they destroyed our Securities via massive Wall Street investment fraud AKA SECURITIES FRAUD…..THE BANKSTERS COMMITTED MASSIVE SECURITIES FRAUD WITH _OUR SECURITIES_ BY MISREPRESENTING WHAT THEY WERE SELLING TO INVESTORS HERE & AROUND THE GLOBE AS IF THEY OWNED OUR SECURITIES AND THEY ALSO MISREPRESENTED THE VALUE OF OUR SECURITIES TO THE TUNE OF $700 TRILLION DOLLARS …..BACKED BY OUR INITIAL STAKEHOLDER OF $12 TRILLION U.S. TAXPAYER DOLLARS. THIS WAS NOT OVERLEVERAGING….THIS WAS OUTRIGHT ROBBERY OF OUR WEALTH & DESTRUCTION OF OUR PROPERTY BY THE BANKSTERS.

  55. This case is a GODSEND ,,, WFC got paid in full on my note by AIG and now they’re arguing that the PSA rules and the original note is nothing but trash!… We’ve got HUGE over payments ,, paid in full PLUS … AIG and all the insurance policies …

    I looked up this case and here’s the linkey poo … it’s in Orlando Fl , Ninth circuit civil Case No. 2012-CA-013779-O


    Speaking of Judge Schack—these are excerpts from an article from 2008!!! 5 years later and we are STILL dealing with massive lies and cover-up:

    …In pending foreclosure cases, Judge Arthur Schack of Brooklyn, N.Y., doesn’t always wait for an opposing lawyer to raise issues about the ownership of mortgages. He investigates the problem himself and dismisses most cases sua sponte…

    …Schack, a former counsel to the Major League Baseball Players Association, is one of an increasing number of judges who are raising questions about the ownership of mortgages in foreclosure. Often it is difficult to sort out the answers since many mortgages have been pooled, securitized and sold to investors…

    …Schack explained his motivation to the Times. “If you are going to take away somebody’s house, you have to do it the right way,” he said. “You have to have due process, and the law has to be followed.”

  57. Exactly, Poppy—WHERE is the money? Where did our money go?
    I just watched a show about Taylor, Bean, and Whitaker—you know Lee Farkas and his dirty deeds…a woman was saying she has three different entities saying they “own” her “loan”—and she never gets any straight answers from anyone about where her money went…and each of them has the power to foreclose on her—yet she never missed a payment…so, when you have three different debt collectors saying you need to pay them for your “loan”—of course one of them will end up foreclosing on you…and the courts and our government lets them. Our president doesn’t give a shit about any of these people. This is the worst crime ever in the history of the US, and our president just lets it happen.
    Like Neil always says, everyone knows everything. Yet after all this time we still get that stupid “responsible homeowners” spin…

    Please sign this petition to help Senator Warren get to the truth of the bogus Independent Foreclosure Review:

  58. The destruction of our Securities by the banksters was intentional and is an extremely serious issue.

  59. We need clear titles & monetary settlements.

  60. Judge Schack is a bad-ass. He was just sanctioned for giving homeowners the right decision. Hope he’s hanging tough. He’s one of the only judges standing up to these thugs!

  61. A lot of folks do realize the lines of credit were blank checks, where they did not attach the money and the property, New century did it, and so did Countrywide…BOA only bought servicing rights. N.A.’s are not allowed, under law, to lend money…to me these are significant points in court!

    I can prove this in New Century. I am now a creditor, not a borrower, per court records. The loan was “seized” by a line of credit lender, after they did not adhere to the repurchase agreement/request by Credit Suisse. Under that they have no authority, just to hold the note for Collateral. They went and sent the note to their servicer-SPS-Ocwen, then to a substitute trustee to foreclose. Now, I have the HUD, wiring instructions, etc…RBS was the lender on the HUD, New Century was paid as the facilitator/originator and Carrington bought ALL of New Century’s servicing platform.

    So, now we have solid proof of Credit Suisse’s non-authority to move on this foreclosure. Credit Suisse was paid 90% of their loss in bankruptcy, yet still trying to foreclose, while the ledger from Ocwen shows a zero-balance. And I have a tax statement from Carrington for the same amounts, the same time frame as the Ocwen servicer. Go figure? Someone needs to answer for the accounting fraud…they both cannot be “collecting” for the same entity…and where is the money?

  62. oh and I want judge Arthur Shack for president

  63. help
    it comes down to this
    “the best way to rob a bank, is to own one” Bill Black

  64. guys, some judges deny discovery items, the judge is saying there is no case that shows any bank/creditor took credit default swaps, or tarp or other monies and did not credit the borrower/loan properly or reduce the loan.


  66. The abject poverty article states, The LACK OF BASIC SECURITY leads to CHRONIC POVERTY when it simultaneously effects several aspects of people’s lives, when it is prolonged and when it seriously compromises people’s chances of regaining their rights and reassuming their responsibilities in the foreseeable future.

    Sound familiar? It has been nearly 5 years since this manufactured financial crisis began and things are not improving at all. In fact, when you really think about how much we are doing without since Obama took office just to have our basic needs met it is startling. Think about this, we lost our livelihoods, our businesses, or we wouldn’t be here, our wealth, our PRIVATE HEALTH INSURANCE, we are in fraudclosure, not paying the mortgage and we are still struggling and we have given up virtually any extras like vacations, dining out, going to the movies, etc. All this for the benefit of the control freak investors at the top of the pyramid scheme who owe us GAZILLIONS. This is the face of evil.

  67. BEWARE…Re-socialism creates totalitarianism. That is where refis and loan mods of unsustainable bankster debt fraud will put us all, into abject poverty. Their debt is so massive it can never be re-paid.
    Read about what the banksters/politicians are creating for all of us with this evil Hitler plan……ABJECT POVERTY IS EXTREME POVERTY…..

  68. that is…not under the contractual agreement. – what we understood at closing , what we in good faith thought the deal was.
    debt collector without telling the truth of who they collect for because it has become unsecured, always was right carie… this I believe, no prove it in court. come up with a case…some one has to be first…

  69. carie- why do they need a substitute trustee,
    why not foreclose in the true beneficiaries name, or use the trustee for the trust they are foreclosing ‘FOR’- well to confooose us,or try, or maybe to put someone elses neck on the chopping block,( over to you stripes on the other stuff I know not much about but it sounds good)
    why does the purported trustee of a sec trust have to “buy” say “for legal money” or credit bid, being ofcourse, the highest bidder, per se AKA what ton of pure **** ( and BTW the term ” For legal money ” is the new vogue) at auction if they are already the beny- answer is they are so not- not. no sir.

  70. this is the point why due process is not to be fooled with, and the power of sale in a contract to be “guarded with jealousy” we are not talking about repossessing a car here, the result is irreparable harm it is someones unique home, one of a kind,- balance of harm- none to them- look at this situation, and the old guy that died, and many others, loosing your home is like loosing part of yourself, especially when you know it was embezzeled,set up from the start to be embezzeled, god knows the plan of musical chairs kicked in so fast it went like clockwork with LPS and co..the psychological impact can be huge some deal with it better than others, personally ill wait for karma, it smarts like a poke in the eye with a sharp stick, and they are gonna feel it, im not worried..
    don’t ya think the courts know the banks are not to be trusted, casr after case this chit is happening…come on you last few good men go get em.

  71. @ Poppy , great point re line of credit thx

  72. I get that carie. I am talking about the here and now.

  73. A securitization trust cannot “own a loan”…yet that is the entity that the servicer is foreclosing “on behalf of”, and that is the stated “owner”… The Trustee of that securitization trust is the stated “beneficiary”—according to the fabricated docs.

    There are soooooooooo many things wrong with that picture.

  74. We can only hope that the OCC is getting the picture as its cause Wells Fargo and Citi to halt its foreclosures as it must comply with the laws. In light of the IRS, New York suing and our complaints to the OCC for the banks having “No Standing”!

    Look this ignorance can only go on so long as the obvious is, that you must own the loan in order to foreclose, and this still blank endorse Note hanging around with out a purchase not only is not legal but does not even make common sense.

    You did not pay for something but you are demanding that a payment be paid to you? At what point did the borrower make a commitment to the pool that is a securities, and you have no ideal what a securities is or are gaining an advantage or profit from the creation of this product.

    The product itself does not actual have a value because because the holder of the Note cannot purchase the debt, which make there not be a debt and nothing to cash out. The bank or the agencies holding a blank Note can go to the window at the local court and say I own this, because the document has a blank freaking endorsement and its that simply!

  75. “…based in reality as to both the value of the property and the viability of the loan…”

    But you KNOW that’s part of the PROBLEM, Neil—the “loans” WERE NOT “VIABLE” TO BEGIN WITH.
    They were COLLECTION RIGHTS to “debt” that was charged off by the GSE’s back at the start of deregulation…the notes SINCE THEN are FAKE. Go back, Neil…go back.

  76. @stripes

    In CA you HAVE to “walk away” if you have no money due to your livelihood disappearing because of this Wall Street Ponzi—not to mention the sheriff shows up with a bullet proof vest on and tells you to leave.

    Bottom line—the servicer says:
    “We are foreclosing due to your uncured default.”

    And when you say: “Uncured default to WHOM???”…they say—“to the investor who owns your loan…”…and then they say: “the owner of your loan is the mortgage-backed security.”

    To that I say: Complete horse sh**.

  77. Part of TARP was use to pay the banks for processing the modification, but I don’t remember any thing about it being used to paid down principal.

  78. help….You can request that information in discovery. The FED received a big fat U.S. Taxpayer bailout to all of their banks/servicers and criminal friends here and around the globe and it is ongoing.

  79. does anyone have caselaw or anything from a court that shows that the bank/servicer/creditor received payments via tarp/credit swaps/etc and did not apply it to the loan? This theory i believe to be true too, but judges do not listen to it because it is theory and no one has been caught in court yet to support this theory that my loan has been paid down, reduced, or other by credit default or insurance payments.

  80. It’s always the same fall guys…..there is a lot more to the story.

  81. I find it a bit curious that V.P. Biden is never mentioned as being part and parcel to any of these scandals.

  82. He called there bluff. Go get’em Neil


  83. Never walk away. When you walk away you are cowering to these crooks.

  84. I have been saying it all along, the banksters destroyed the contracts and the notes. However, nothing with the politicians/banksters ever happens by accident. If it happens you can bet it was planned that way. It is all about creating crisises … cause & effect. These banksters don’t make mistakes, they cause them. Their ultimate goal, totalitarianism …… a nation of renter slaves to all of their fraud. The investors want a lifetime revenue flow from the peasants they created to everything that involves our Life, Liberty and Property.

    Beware of their fixes for massive mortgage & derivatives fraud will be a World Tax, or some similar tax like OBAMACARE that will make us a nation of renter slaves. That is why the economy stinks and will not get better under these imposters who have hijacked our Treasury Department.

    The only proper correction is to challenge the validity of their suit and demand no less than clear title and monetary damages for harm done and permanent harm intended. If they did not have ownership of the contract and note at the onset, they were not a holder or a holder in due course of the contract, they have no standing, they had or have no right to collect a dime from us and they certainly have no legal right to take any property away from us because we funded everything. Without the legal agreement, they are imposters, strangers to the mortgage. Therefore, the only legal remedy for the Origination Fraud is clear title to us and monetary restitution. There is no law in equity for a non existent contract.

    We should reject all fixes for fraud because they are fraud. Just like OBAMACARE, their fixes are fascist and will lead to totalitarianism by the banksters who are control freaks.

    The IRS scandal is being billed by the media as a huge crime but not the robbery and hijacking of our Treasury by these imposters who have no legal right to dictate policy in America or collect any money or property from us is being blatantly ignored.

    The robbery, hijacking of our wealth & property by the banksters is the biggest crime in U.S. history and nothing is being said about it in the media except for a few casual remarks by commentators.

    Benghazi, the IRS and AP scandals have nothing on this ongoing robbery of our wealth by these imposters. While the people stew over that, the banksters are cleaning us out and are trying to permanently install their dictatorship. OBAMACARE needs to go but, we need to get our Treasury back first and foremost and our stolen wealth and property . We need to issue our own currency. We need to throw the Central Banks out of America for good.

  85. The banks are being allowed to plead to the court with hearsay evident that they own debt, instead of actual bring a Note endorsed to them and some type of receipt that monies changed hands!

  86. The false credit bid , says it all to me. Meet the scumbags on the courthouse steps and beat them down.

    Enough is Enough !!!

  87. Here what I been talking about and that is that these lenders/service/issuer don’t have the ability to foreclose on a Ginnie Mae pooled loan, because the Note are signed endorsed in blank and relinquish to Ginnie Mae, who is not a lender and cannot change a home mortgage loan interest rate or its term, and they are not signed up for HAMP because the are not a lender and therefore is not a party to the HAMP modifications.

    Now as with this person who was focus on getting a modification and like most of us don’t have the money to fight a trillion dollar asset bank, so your hope were with a modification, however the reality is that they don’t qualify for a HAMP because the holder of the Note not in a legal position to offer the service and the alleged servicer in Wells Fargo (impossible to service loan for Ginnie Mae) need to have permission from the debt holder to preform action, but if that holder of the Note does not hold the debt, then there is no harm done to a party that not originated the loan or purchase the loan, which Ginnie Mae does not do.

    Now the destinations of the Note can be hidden if Wells Fargo originated the loan because it the title would originally have been in their name and would not have been changed in the local county land recorder office. However in the cases of Washington Mutual, Countrywide or IndyMac you have loan of failed or sold bank and if there were correspondent lenders involved the title was first place in a different name other than Wells Fargo, and now after the failure of the bank, the problem exist to grant Wells Fargo title because the Note must forever remain blank after it relinquish to Ginnie Mae.

    Good is that the modification BS been dealt with to a degree, so that it get it out of the discussion and let the real matter rise to the top and that is, the party foreclosing has “No Standing”. Wells Fargo in every single WaMu government insured loan in a Ginnie Mae pool has “No Standing”, because it Ginnie that suppose to be in possession of.

    These situation are over because there is no way on earth for Wells Fargo or Ginnie Mae to show that purchase the loan debt, because the fact is they did not. The the fact is that there actual no debt at all because the once holder gave away the Note without a purchase occurring!

  88. Anyone here familiar with a bank walkaway? Had a foreclosure sale and the bank didn’t sell the property, not because there were no bidders, they just didn’t send it to auction. That was 2 months ago and we’ve heard nothing. Any recourse? File for a summary judgment? Any info would be helpful, never had this issue before, unfamiliar…

  89. It appears the banksters think they own this place, the United States of America. Their plan was to take our country over without ever firing a shot and they are testing us to see if we are paying attention. It was a sneak attack at first and millions of us lost our livelihoods, businesses, life savings, property and we were blamed. The people are waking up.

  90. So, in essence they have changed the contractual terms, by slight of hand. We have a contract issue and IMHO it is very easy to contest if we can get this admission front and center. We have no contract folks!
    It has always been curious to me, how an originator can borrow money on our behalf from a line of credit anyway. And they have done it using our personal information, stealing the proceeds “under false pretenses” last time I checked that was pure FRAUD…and since they have not attached a lien to the property, due to the way they dispensed the money and whom gave it to them, they have no recourse. The judges NEED to wake effing up. Then, most times the line of credit is from non-lenders, whoops, there goes the securitization…

  91. I entered into a temporary modification with Wells Fargo, as ” lender” in 2009. Terms included amount paid, included principal, interest, property taxes and insurance. Letter was signed by Wells representative from “Office of President.” I complied with terms and they then called to change the terms to a permanent mod asking for escrow for property taxes and ins . Total amount would have been more than initial payment. Couldn’t find lawyer in Minnesota so I filed for the IFR. Got my $500 check.

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