The Big Cover-Up in Our Credit Nation

Regulators have confirmed that there were widespread errors by banks but that the errors didn’t really matter. They are trying to tell us that the errors had to do with modifications and other matters that really didn’t have any bearing on whether the loans were owned by parties seeking foreclosure or on whether the balance alleged to be due could be confirmed in any way, after deducting third party payments received by the foreclosing party. Every lawyer who spends their time doing foreclosure litigation knows that report is dead wrong.

So the government is actively assisting the banks is covering up the largest scam in human history. The banks own most of the people in government so it should come as no surprise. This finding will be used again and again to say that the complaints from borrowers are just disgruntled homeowners seeking to find their way out of self inflicted wound.

And now they seek to tell us in the courts that nothing there matters either. It doesn’t matter whether the foreclosing party actually owns the loan, received delivery of the note, or a valid assignment of the mortgage for value. The law says it matters but the bank lawyers, some appellate courts and lots of state court judges say that doesn’t apply — you got the money and stopped paying. That is all they need to know. So let’s look at that.

If I found out you were behind in your credit card payments and sued you, under the present theory you would have no defense to my lawsuit. It would be enough that you borrowed the money and stopped paying. The fact that I never loaned you the money nor bought the loan would be of no consequence. What about the credit card company?

Well first they would have to find out about the lawsuit to do anything. Second they could still bring their own lawsuit because mine was completely unfounded. And they could collect again. In the world of fake REMIC trusts, the trust beneficiaries have no right to the information on your loan nor the ability to inquire, audit or otherwise figure out what happened tot heir investment.

It is the perfect steal. The investors (like the credit card company) are getting paid by the borrowers and third party payments from insurance etc. or they have settled with the broker dealers on the fraudulent bonds. So when some stranger comes in and sues on the debt, or sues in foreclosure or issues of notice of default and notice of sale, the defense that the borrower has no debt relationship with the foreclosing party is swept aside.

The fact that neither the actual lender nor the actual victim of this scheme will ever be compensated for their loss doesn’t matter as long as the homeowner loses their home.  This is upside down law and politics. We have seen the banks intervene in student loans and drive that up to over $1 trillion in a country where the average household is $15,000 in debt — a total of $13 trillion dollars. The banks are inserting themselves in all sorts of transactions producing bizarre results.

The net result is undermining the U.S. economy and undermining the U.S. dollar as the reserve currency of the world. Lots of people talk about the fact that we have already lost 20% of our position as the reserve currency and that we are clearly headed for a decline to 50% and then poof, we will be just another country with a struggling currency. Printing money won’t be an option. Options are being explored to replace the U.S. dollar as the world’s reserve currency. No longer are companies requiring payments in U.S. dollars as the trend continues.

The banks themselves are preparing for a sudden devaluation of currency by getting into commodities rather than holding their money in US Currency. The same is true for most international corporations. We are on the verge of another collapse. And contrary to what the paid pundits of the banks are saying the answer is simple — just like Iceland did it — apply the law and reduce the household debt. The result is a healthy economy again and a strong dollar. But too many people are too heavily invested or tied to the banks to allow that option except on a case by case basis. So that is what we need to do — beat them on a case by case basis.

55 Responses

  1. Great post. I’m experierncing some of these issues as well..

  2. Max Gardner has a list of items that you should look for which would probably indicate fraud. One of them is “The assignment is executed by a party who claims to be an “attorney in fact” for the signor.” One of my recently created bogus assignments has the exact same thing. Can someone explain to me the significance of this and what would make this fraudulent? jsmith5915@msn.com or 443 677 2799.

  3. Coverups of a crime usually play a more important & extensive role than the crime itself.
    Here is a good example: an obvious ongoing cover-up of Sandy Hook as posted in Veteranstoday recently:

    Sandy Hook School Board Meeting with Wolfgang Halbig, Jim Fetzer, and Others (05/06/2014)

  4. woooohoo! petition for rehearing at Ninth Circuit Court of Appeals denied to banks—-in Helen Galope’s LIBOR case!!

    http://www.scribd.com/doc/222985488/Helen-Galope-s-LIBOR-appeal-case-Order-for-Rehearing-Denied-to-the-banks

  5. YES SIR: Cover-up all the way to the bank also according to:

    Richard C. Cook, a top U.S. Government insider, In Oct. 2008, who confirmed my disclosures of 4 years earlier, in 2004 California lawsuit (Case #04CC11080 –Orange County), that a national treasonous foreclosure, and financial sabotage, had been engineered by the U.S. Government insiders to avalanche, and meltdown the U.S. economy beginning 2007:

    “They Did It On Purpose: The Housing Bubble and Its Crash Were Engineered from the Highest Levels of the U.S. Government, the Federal Reserve, and the Financial Industry”

    http://www.marketoracle.co.uk/Article6936.html

    In my 2004 case, I called it Allen Greenspan’s biggest lifetime project!

    in 2007, Greenspan swore to congress that neither he, nor anyone else, could have seen it coming!

  6. Even the below 2010 calculation of what each American owes to the world is way below the real numbers:

    $53 Trillion total U.S. federal debts = $175K per person

  7. Don’t forget about all those notes in repurchase agreements – the “repo market”, collaterized debt obligations (CDO’s) and held in custody services! Oh my, could there possibly be more than One note?

  8. Throw Back Tuesday …

    Forget about The Constitution, forget about The Bill of Rights, a far more important document exists in this country and it’s called….The Allonge!
    Those other old and forgotten documents are just, well, old and forgotten. Relics. Memories. Pesky annoyances that get in the way of the real thing of today and that is…The Efficient Flow of Commerce. The allonge is actually an old, old thing…older in fact than those other two old things that we should all stop talking so much about. The allonge sat around in an abandoned neighborhood at the intersection of law and commerce, forgotten and unused, never spoken of by judges and scarcely mentioned in any statute or the Uniform Commercial Code anywhere in the country until some brilliant mind in the Department of Commerce, Division of Securitization decided to drive through the rough section of town, past the whinos and blown out buildings and pick up that cast off old man called Allonge and take him for a ride.

    And one hell of a ride it’s been.

    The one widely circulated bit of scholarship on the subject Getting Attached Do your legal search and research high and low, all across the country and the above document is about all you’re gonna find. Not many opinions and those that do exist all head back to the same place…Black’s Law Dictionary…and the definition of allonge.

    The key part, the essential element of the magical power of the allonge is that it was only ‘sposed to be used when there was no space on the note to make an endorsement….but that has not stopped the Sorcerers of Securitization from just totally ignoring this essential element of the Allonge and conjuring up one page hanging allonges and just dropping them in court files all over this country.

    By now we all know what’s going on. At first the Dark Side didn’t even bother with getting the original promissory notes…..any old Affidavit of Lost Note would do….never mind that most of these Affidavits did not comply with the essential factual requirements of an Affidavit of Lost Note…namely personal knowledge that the affiant lost the note…most affidavits merely state, “The note is lost” and then some add for good measure, “Whoopsie!”

    Then some pesky attorneys started asking questions about these affidavits and where the notes were and things started changing….First, foreclosures just ground to a halt….all across the country. Maybe part of it has to do with the inexplicable comments made by the Florida Mortgage Banker’s Association when they admitted the industry went about destroying original notes. Huh? You did what? You Destroyed Original Notes? What a Hoot! What a Gas….Read More Here!

    On and then there’s all those admissions in cases like Kemp v. Countrywide describing how the Big Shot Banks just ignored all the fundamental law and rules on original notes.

    But back to the Allonge. Oh the powerful and mighty Allonge.

    But what’s really the point of all this? What do it matter? Does it Really Matter? Well, yeah, it really does.

    These ain’t just technicalities that don’t mean ‘nuttin. The purpose behind original notes and chain of custody and endorsements is to protect against fraud and abuse and to ensure that the financial services industry is not cheating….(They couldn’t possibly be cheating or lying…could they?) We can trust Goldman…and BofA….and JPMorgan….can’t we?

    The Den of Thieves commonly known as Wall Street would not possibly pledge the same original notes into multiple trusts, thereby increasing the value of each pledge many times over…would they? They wouldn’t do this even if they knew they were totally unregulated and it would be nearly impossible to catch for years and years down the road….would they?

    Remember that the Rules of Evidence (used ever so occasionally in the context of foreclosure) and the Uniform Commercial Code are fundamentally intended to protect against fraud and to protect all parties in commercial transactions. “All parties” in the context of such a big part of our entire economy includes not just the homeowner and lender in a foreclosure transaction…no siree…it includes the entire world which should be able to depend on an accurate and trustworthy financial system….do you think we have an accurate and trustworthy financial system?

    Finally, consider all of that in the context of a case where these issues are being expertly litigated. Very, very good stuff here….

    See Post Here ….

    http://livinglies.wordpress.com/2011/07/01/tbw-exec-gets-30-years-more-to-come-no-remorse-14-fraud-counts-guilty/

  9. Christine , the Link came from a site you posted .. Ironic?

  10. Good Morning Sunshine ….

    Christine,
    I thought that is what you wanted, to reveal and abolish the National Debt? I’m not terrified, … terrifying people seems to be your job. Trust me my Friend … I fight back, maybe not in the same way as you do …. but in a way I can live with.

    Terri Stansberry, …
    GET YOURSELF LEGAL REPRESENTATION IN THE JURISDICTION WHERE YOUR PROPERTY IS LOCATED. Please!!

  11. @Terri Stansberry…email me at Livlies2013@gmail.com. I might be able to help you.

  12. There are so, so very many of us out here, I am sure who want to fight, who want justice, who are damn angry and don’t want to take it anymore….but we also have nothing or very little left to fight with. I am a widow. My husband died in 2009, right in the heat of this debacle. I am fighting for a modification because that is my only option. A very small nest egg is all that I have at 62 years of age. Do I gamble it on a throw of the dice with any attorney who may not “get it” or know how to fight it and win just to end up penniless AND homeless? We do what we do because we have no choice sometimes. But numbers are power. When are some of these attorneys who “GET IT” going to band together and file a class action suit with the federal courts on behalf of average Americans who have been bled dry by the corruption of Wall Street, the Banks and our Government. Wouldn’t a little money from millions of Americans make it worth your while to stop talking and call the attention of the WORLD to the atrocities being inflicted on the people of this once great Nation? Wouldn’t a retainer of $500 from a million or more Americans be enough to hold you over while you did the right thing and backed up all your talk about the horrible things the banks have done and are still doing, with action? Come on gentlemen…..you get a nice slice of the pie at the end of the game too.

  13. KC, on May 5, 2014 at 9:45 pm said:
    http://www.usdebtclock.org/

    One has to wonder why anyone would post such a counter-intuitive and counterproductive link… Just the kind of site only non-acting terrified people would post to gather as many other non-acting terrified people around them, for comfort sake. Just in case Armagedon was tomorrow.

    Forgot your meds again?

  14. There’s got to be some benefit people get out of banking in America. Common sense would otherwise dictate that they no longer do but they still hold on to that bank account they pay through the nose to keep, with a bank that screws them daily in every aspect of their lives.

    At what point is convenience finally outweighed by the immensity of the racket they condone by perpetuating and promoting it against themselves?

    http://www.zerohedge.com/contributed/2014-05-05/enron-20-wall-street-manipulates-energy-prices-%E2%80%A6-and-every-other-market

    6 Years After the Financial Crisis Hit, The Big Banks Are Still Committing Massive Crimes

    Submitted by George Washington on 05/05/2014 14:07 -0400

    The “Great Recession” started in December 2007. More than 6 years later, the big banks are committing more crimes than ever.

    You Won’t Believe What They’ve Done …

    Here are just some of the improprieties by big banks over the last century (you’ll see that many shenanigans are continuing today):

    – Laundering money for terrorists (the HSBC employee who blew the whistle on the banks’ money laundering for terrorists and drug cartels says that the giant bank is still laundering money, saying: “The public needs to know that money is still being funneled through HSBC to directly buy guns and bullets to kill our soldiers …. Banks financing … terrorists affects every single American.” He also said: “It is disgusting that our banks are STILL financing terror on 9/11 2013“. And see this. This has been going on for decades. For example, Bank of America funneled massive amounts of money to BCCI – itself connected with the CIA – and, according to the US Senate Foreign Relations Committee on Terrorism, Narcotics and International Operations, BCCI in turn funneled huge sums of money to Bin Laden and other terrorists)

    – Financing illegal arms deals, and funding the manufacture of cluster bombs (and see this and this) and other arms which are banned in most of the world

    – Handling money for rogue military operations

    – Laundering money for drug cartels. See this, this, this, this and this (indeed, drug dealers kept the banking system afloat during the depths of the 2008 financial crisis). A whistleblower said: “America is losing the drug war because our banks are [still] financing the cartels“, and “Banks financing drug cartels … affects every single American“. This is actually a decades-old practice)

    – Funding the Nazis (while we’re referring to funding the original Nazis many decades ago, the U.S. is now backing the neo-Nazis in Ukraine, and banks are undoubtedly involved in some of the support)

    – Launching a coup against the President of the United States (an old – but vital – story)

    – Engaging in mafia-style big-rigging fraud against local governments.

    – Shaving money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide.

    – Manipulating aluminum and copper prices

    – Manipulating gold prices … on a daily basis

    – Charging “storage fees” to store gold bullion … without even buying or storing any gold . And raiding allocated gold accounts

    – Committing massive and pervasive fraud both when they initiated mortgage loans and when they foreclosed on them

    – Pledging the same mortgage multiple times to different buyers. See this, this, this, this and this. This would be like selling your car, and collecting money from 10 different buyers for the same car

    – Cheating homeowners by gaming laws meant to protect people from unfair foreclosure

    – Committing massive fraud in an $800 trillion dollar market which effects everything from mortgages, student loans, small business loans and city financing

    – Manipulating the hundred trillion dollar derivatives market

    – Engaging in insider trading of the most important financial information

    – Pushing investments which they knew were terrible, and then betting against the same investments to make money for themselves.

    – Engaging in unlawful “frontrunning” to manipulate markets.

    – Engaging in unlawful “Wash Trades” to manipulate asset prices.

    – Manipulating corporate bonds through derivatives schemes

    – Otherwise manipulating virtually every market

    – Participating in various Ponzi schemes.

    – Charging veterans unlawful mortgage fees

    – Helping the richest to illegally hide assets

    – Cooking their books

    – Bribing and bullying ratings agencies to inflate ratings on their risky investments

    – Violently cracking down on peaceful protesters

    The executives of the big banks invariably pretend that the hanky-panky was only committed by a couple of low-level rogue employees. But studies show that most of the fraud is committed by management.

    Indeed, one of the world’s top fraud experts – professor of law and economics, and former senior S&L regulator Bill Black – says that most financial fraud is “control fraud”, where the people who own the banks are the ones who implement systemic fraud.

  15. Are They Lying, Or Just Stupid?

    Submitted by Tyler Durden on 05/05/2014 15:05 -0400

    “…It’s not always easy to define what exactly is wrong with America, but what ever it is, it’s huge.
    — Roel Ilargi Meijer, The Automatic Earth.com.”

    Despite its Valley Girl origins, the simple term clueless turns out to be the most accurate descriptor for America’s degenerate zeitgeist. Nobody gets it — the “it” being a rather hefty bundle of issues ranging from our energy bind to the official mismanagement of money, the manipulation of markets, the crimes in banking, the blundering foreign misadventures, the revolving door corruption in governance, the abandonment of the rule-of-law, the ominous wind-down of the Happy Motoring fiasco and the related tragedy of obsolete suburbia, the contemptuous disregard for the futures of young people, the immersive Kardashian celebrity twerking sleaze, the downward spiral of the floundering classes into pizza and Pepsi induced obesity, methedrine psychosis, and tattooed savagery, and the thick patina of public relations dishonesty that coats all of it like some toxic bacterial overgrowth. The dwindling life of our nation, where anything goes and nothing matters…”

    “…There comes a point in the destiny of a failing nation when official lying is no longer distinct from official stupidity. We’ve crossed that boundary in the USA. It pays to remember that societies get what they deserve, not what they expect.”

    http://www.zerohedge.com/news/2014-05-05/are-they-lying-or-just-stupid

    I guess by now it has really become obvious… About time!

  16. They’re baaaaack! And their timing is uncanny.

    “Also—does anyone know if you can sue for damages after the foreclosure? Using Glaski?”?

    2 1/2 years after the fact, having done nothing to contest the foreclosure for all those months? More than doubtful. And on what grounds?

    That’s what attorneys are for.

  17. Deborah Wynn
    you are definitely right, that a bank didn’t really lend money ?????not important to a judge
    no different than when a judge doesn’t care about nemo dat what is the difference anyway says the judge, who cares if they sell something they don’t own. -as long as the judge comes out ahead.

  18. Does anyone know if this is the most current information regarding Brian Davies’ case?

    http://cdn.ca9.uscourts.gov/datastore/memoranda/2014/03/24/12-60003.pdf

  19. MESSAGE BOARD
    Post A Message…

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    3,462 Responses to “Message Board”
    marilyn lane says:
    May 5, 2014 at 7:06 PM
    New York has a new plan brewing to build 200 thousand units for all incomes 80/20 apparently to cover up all the homes and apts stolen that many of us has spendt 30, 40 or 50 years working for
    and now they expect us to start again all the while putting the fraud on the back burner.

  20. How does one find out the closing date of their securitization trust? Thanks. Also—does anyone know if you can sue for damages after the foreclosure? Using Glaski?

  21. Hi—does anyone know someone who is using the Glaski decision successfully? http://www.prweb.com/releases/2014/GlaskiDepublished/prweb11623193.htm

  22. KC, notary laws are different in different states. That being said, the state I am in has very loosey goosey notary laws which, IMHO, are just about worthless. When we sign here, I ask to see a driver’s license to make sure of their ID. However, in CA, the notary must keep a book with entries as to IDs of the people requesting the signature of the notary with the number of their driver’s license or passport, the name and nature of the document to be signed with the date.

  23. Let understand if they shredded the Note to government insured loans then they got a huge problem, because the process of placing the loans into the Ginnie Mae pools required that the Notes are endorsed in black and relinquished to Ginnie in order to sell the securities.

    So we know the order the the Notes are suppose to travel and they have the burden of proof in the case of a Countrywide & Washington Mutual Bank or other failed banks could not have sold the loan because there were forever in the pool because there is not transferring the documents back as the loan were not purchase.

    This is coming to an end because as Ginnie Mae is searching for cover by asking for the Titles spell a end to the con because there are not Titles to BOA or Wells Fargo from CW or WaMu as they long since relinquished physical possession. Once the Notes been signed and endorsed in blank and actually physically changed possession the party own for the relinquishing party, as they can never again reattach the Notes & debts!

  24. Allow me to take Neil’s statements below and add insult to injury:

    “If I found out you were behind in your credit card payments and sued you, under the present theory you would have no defense to my lawsuit. It would be enough that you borrowed the money and stopped paying. The fact that I never loaned you the money nor bought the loan would be of no consequence. What about the credit card company?
    Well first they would have to find out about the lawsuit to do anything. Second they could still bring their own lawsuit because mine was completely unfounded. And they could collect again. In the world of fake REMIC trusts, the trust beneficiaries have no right to the information on your loan nor the ability to inquire, audit or otherwise figure out what happened tot heir investment.”

    Now, similarly, ask yourself this, who has the right to possession – forget title for a min since that was extorted too, but follow this line of thinking through to an unlawful detainer action whereby
    A) it is presumed that the entity before the court ( assuming you are in fact in the right court with jurisdiction to decide the matter) has standing and is representing the true beneficiary and as such has been properly authorized
    B) they are not concealing material facts that if disclosed – well goes with out saying,
    C) that if you filed suit ( unlawful detainer action) then service of process was done properly
    D) the judge would know this by the docket RECORD and at the ” hearing” would say something like ” hang on a minute” for example
    -SO my point in comparing the two examples is my house was sold to a buyer who actually through no fault of his own ( that I am aware of) is now in fact a indispensable and necessary party to a lawsuit battle that has been going on for close to 5 years ( but he has not been notified yet – all in due course) from day 1 that new buyer had no legal right to possession and I have been deprived of my legal right to possession, due to the fact that the forcible detainer action and default judgement is VOID. From fraud nothing can follow and once a case has been tried it can’t be re- tried- unclean hands to say the least. See how god works in mysterious ways. Also think about who did this for the banks who aided and abetted filing ” documents” swearing under oath and so on. These folks owed a duty of care under their licenses.

  25. ZZZZZZZZZZZZ

    http://stopforeclosurefraud.com/2014/05/05/video-holder-no-banks-too-big-to-jail/

    Right, but not before mouse runs up the clock and by the time Homeowners wake up and realize …… Never Mind!

  26. Is that why Ginnie Mae wants the Titles?

  27. They shredded them because of the same reason there is no recorded liens?

    Because they wanted the title to the estate free and clear to do what with exactly? Back National Debt?

  28. Is that why they charged those notes off in 2008?

  29. To Louise: If your Note was shredded, then that is a conscious act by the Holder to destroy the debt instrument. I think you can advance a credible case that this voluntary destruction of a debt instrument vacates the debt. Since the “Mortgage follows the Note,” you have a solid case for having the Mortgage stripped off the land title records.

  30. At $240.00 an hour … I wouldn’t want my Attorney dragging feet.

    I’d go broke after a few years.

  31. Louise, I recall you saying you worked as a paralegal for about 20yrs.

    Were you a Notary of the Public?

    If so … when endorsing and acknowledging all those docs presented to you by your employer…. did you ever enquire about your states Notary Laws?

    Were you ever taught about signing capacities? How do you confirm if the party setting in front of you (or not) has the authority to sign?

    Wouldn’t you need something (an agreement) authorizing that party to sign in the capacity of another?

    Or did you just Stamp and Acknowledge without Verification of Authority/Legal Capacity to sign for Another?

  32. @javagold, the law makes it mandatory for the servicers/banksters to claim they are a debt collector. Do not throw that out. Keep it in a safe file. See the Fair Debt Collections Practices Act.

  33. Exactly Deb!!

  34. Dont forget where the 401k is invested-MBS that are – worth ?

  35. Case by case. We need some massive state class actions. State by state

  36. And Java,

    Take it from someone who has already Won, not someone still in battle. KC attorney smarter and with a simple minded person like KC need not take direction from client.

    KC attorney Settles matters in months and not years.
    Unless you like that stuff?

  37. And Java,

    Get your advice from those who get somewhere and accomplish something. Plastering 50% of this site with completely useless and nonsensical posts doesn’t qualify as having any kind of expertise. The kindergarten act is becoming weary…

  38. We disagree again….. 🙂

    Take your money out of the TBTF …. Yes!
    Go get legal advise and then determine if stop making the payments to the Fee Machine is in your best interest. You would be surprised how willing the screwed main street investors are willing to work with you.

    I’m the type of gal who couldn’t stomach those elderly who worked all their life and saved for their retirement going to the curb.

    Especially those in the Donut Hole …

    Double screwy!

    Time to Put On Your Big Girl Panties and Do Something about It!

  39. Hey Leah Dean, I’ve got the same thing going on as you. My Deed of Trust lists America’s Wholesale Lender, “a corporation organized and and existing under the laws of New York” as the lender, and that is a lie, because they never bothered to register as a corp in NY, therefore they never even existed-they just said they did! Someone else registered the name and Countrywide tried to sue them for it! My note says the lender is Countrywide Home Loans, Inc. In Garcia vs BoA, Devrin Lindgren testified that BofA assumed no Countrywide Home Loan, Inc mortgages. My mortgage was supposedly put in a CWABS trust, assignment filed nearly 8 years after the closing date.

  40. Javagold, on May 5, 2014 at 10:54 am said:

    “If only everyone would just stop paying NOW. A solution would be found in 24 hours.”

    You are right. Had people stopped paying as soon as we read the allegations of the complaint serving as basis for the infamous $25 billion settlement, two years of misery and countless foreclosures would not have taken place, solutions would have been found in a jiffy and heads would have rolled instead of bankers receiving obscene salaries and bonuses. Although it is the only way, it will not happen today anymore than it should have then.

    Why? People are afraid of taking action. So, the can keeps being kicked down the road and the government revolving doors to the private sector remain wide open. And given the fact that congress is already scrambling to get reelected despite its abysmal performance, nothing significant will take place anyway. That’s America: feed the problem and complain about it.

  41. You can argue everything from appraisal fraud to mod fraud.

    Forget It!

    Reliance, Prime Facie
    with intent to sign and grant mortgage lien ….

  42. This letter is from a debt collector.

    On every correspondence from the “bank”…… Wonder why ???

  43. A Good Estate, Title, and Contract Attorney should be able to help you……..

    Just Saying …. I’m Not Shoving It Down Your Throat.

  44. Lets look at it this way …

    The Note is not recorded and there is no lien. Why?

    The Mortgage is filed but the lien is not perfected. Why?

    The borrowers note is unsecured. Why?

    *** The Estate (including non borrowers) are being called debtors. Why”?

    *** The Estate is listed as a creditor in banksta BKs. Why?

  45. KC, the original wet ink note that you signed at the closing was taken and shredded after it was digitally entered into a database. That way, they could generate a BS note whenever they wanted to esp. in light of taking someone’s house based on a fake note, not the original. Please read the Fair Debt Collections Practices Act. It will tell you all about debt collection.

  46. When are you going to realize the Title was Taken Before Default?

    Louise, what note was shredded/liquidated? And Why?

    For example grantor/taxpayer owns stock in a closely held business, ABC Inc.
    ABC Inc. stock continues to appreciate rapidly. However, ABC Inc. is an S-Corp
    and grantor does not want to forego the “S” distribution earnings. Therefore,
    grantor decides to sell off a portion of ABC Inc.’s stock to the intentional grantor
    trust in exchange for a promissory note. The promissory note will provide for
    interest only payments with a balloon payment at the end of 15 years. The note
    must carry interest at the Applicable Federal Rate as published by the federal
    government. The interest payments will be paid with S corp earnings. In the
    meantime, the S corp stock owned by the grantor trust will appreciate outside of
    the grantor’s estate. At death, the balance of the note will be included in the
    grantor’s estate which will be far less than the value of the appreciated stock of ABC Inc.

    http://www.mijs.com/publications/estateplan/IntentionalGrantorTrust.pdf

  47. @Jan Van Eck: During my settlement which was court-ordered, opp. counsel (associate not partner) told me triumphantly that all the notes had been shredded. Should be interesting.

  48. I wanted to payoff my husbands note, and mortgage and take title so that I could take out my own loan (in a much smaller amount) and .. drop to a 10 or 15yr term to save on interest.

    Apparently I wasn’t being reasonable and BAC continued to try to force a loan mod down my throat when there was no hardship.
    They Created another default ( learned from CW?)

    I wondered why ……. Curiosity got the Kat.

  49. Not exactly Java, …

    *** If everyone would get legal representation in the jurisdiction their property is located and get to work with the “Real Money” investors the Banksta wouldn’t have any fees or free houses to Gorge itself on.

    Just My Advice .. Take It or Leave It

  50. If only everyone would just stop paying NOW. A solution would be found in 24 hours.

  51. I know, Right Jan? After paying two servicers tens of thousands of dollars …. CW & BAC whom both claimed ownership of the note with anothers name listed as lender.

    After that .. BAC still wanted to play “Ring Around the Rosie” .. yes they did.

    But FHA had something to say, as reflected in 2010 1098’s.
    Had to take their issue up with BOA.
    Double claims to note and the title … welllllll ?

    They battled, I watched.

    Bad Trustees!! Bullies they Are!!

  52. What I have found from doing my own research about America’s Wholesale Lender, and the story I get from ReconTrust/Bank of America, Bank of New York Mellon, MERS, according to Bank of America is my loan/note belongs to Bank of New York Mellon. My mortgage is in Pool CWABS 2007-2. No matter how many times Bank of New York Mellon denies writing they do not own note or loan, Bank of America states otherwise. After taking a close look at how Bank of America writes who the Current Mortgagee is and how it reads, my note/loan belongs to CWABS, Inc. So if you take the time to research CWABS Inc on their financial report WYSK you will find that Countrywide/Bank of America actually has a company operating at 4500 Park Granada, Calabasas CA called CWABS Inc. Its acting agents are CT Corporation. CEO John Dixon, CFO Thomas Scrivener, Devra Lindren Secretary. Operating under Laws of Deleware. I purchased the report to show how many active lawsuits are pending against CWABS Inc. Probably could get some very good case studies from these lawsuits. Can’t hurt for some of you attorney’s to check into it and see what you can find. Getting back to the point, I do not see how America’s Wholesale Lender was able to transfer a Assignment of Deed of Trust to the property in October of 2011. America’s Wholesale Lender was no longer in business, Who or who was legally able to authorize the assignment from America’s Wholesale Lender to MERS? Then how was MERS allowed to make Bank of New York Mellon the new Mortgagee? Anyway, there is a business operating as CWABS Inc for the trust. You can see they are operating for the trust by the lawsuits. I encourage somebody to check out the report.
    So by Neil’s article, do we just give up and stop fighting?

  53. Here is an interesting tidbit we came across in a regulatory Filing made when a savings bank was being purchased by a regional bank. It described the forward-selling of originated loans:

    “FHA loans are closed in the name of the Savings bank of Manchester and immediately sold in the secondary market to Countrywide Mortgage Company with the loan servicing rights released. CHFA loans are immediately assigned after closing to the Connecticut Housing Finance Authority with servicing rights retained by the Savings Bank.”

    Now, does anybody seriously think that “Countrywide Mortgage Co.” is in the business of buying loans for investment? Nope; these are instantly tossed into pools and bundled up and sold off, complete with credit-default insurance which is charged back to the homeowner who unwittingly pays for it out of his closing costs. But what happens to the paper? Well, that gets stamped with two stamps: one from Countrywide Mortgage to Countrywide Home Loans, and one from Countrywide Home Loans [a limited partnership, later to be BAC Home Loans Servicing LP, later to be “Bank of America, N.A.”, at least in theory] with “Pay to the Order of___________.” the “paper” now gets scanned, run through a Diebold re-printing machine that re-manufactures the original note complete with color analog signature (now there are at least TWO “original Notes”) and the unperfected special Indorsement is flogged about as “bearer paper.” A photocopy of that is then waved at some Judge to foreclose on the homeowner.

    What happened to the multiple “originals?” Nobody knows. But you can bet that, sometime about 15 years from now, they will surface, and become like those Zombies in the movies: back to attack the homeowner. Meanwhile, payment to the wrong party is no defense to the proper Note Holder. And that is why you need to always get your hands on that Original Note (the real original, not the Diebold crafted version) to “retire it from commercial circulation.”

    But here is the next tidbit: what about those Notes “sold” to the government agency (here, CHFA) with servicing rights retained? Do you think that the Bank ever tells the homeowner that CHFA is sitting on that loan? How about the courts? Answer: Nope, and Nope. the savings bank, now converted by sale into a regional bank, simply forecloses in its own name. Except: they are not aggrieved, have no money interest, have no stake in the Note, and are enriching themselves by fraud. Cute, huh? What a racket. Puts Al Capone to shame as a real slacker.

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