While it is true that the loan deal is over the moment that the notice of cancellation and/or rescission is put in the mail, there is a different starting date for when the recipient is bound to comply with TILA Rescission statutes. The days for compliance begin upon presumed receipt or actual receipt depending upon the facts of the situation Since nobody has ever filed one of those actions (or at least I have not found one) it doesn’t seem to make much difference. And none of that changes the fact that the loan deal, the note and the mortgage are void the moment the notice is dropped in the mail which is a point in time before the clock starts ticking against the banks to return the canceled note, file the satisfaction of mortgage and pay the money to the borrower. If more than one year elapses after receipt or presumed receipt of the notice then not only is the note and mortgage void, but the debt is too. [But the borrower’s right to collect disgorgement of all money paid or compensated as a result of the subject loan is also lost after one year].

Hat tip to Carol Molloy in Tennessee for pointing this out to me.

17 Responses

  1. RkRay: I am interested.

  2. John Anderson … Good luck on your rescission fight. What was the standing issue that made them lose the first time? What is the end result you are expecting on the rescission defense? What will your game plan be if the judge acknowledges your rescission and then attempts to have you show that you can tender back to the bank?

  3. I had filed a TILA rescission on 02/11/2009 on the loan of 04/21/2006
    I sent it certified Mail to the attorneys representing the people who claimed to own the note and mortgage. Liquidation Properties, Inc. AKA Citi Property Holdings Inc and to their home office,s and filed it with the court. The judge waved it around and asked me, did you send them their money back? I just responded “No I did not your honor” . I did not argue it, because I was not that well versed in the law.
    After 5 year battle I won that case on standing.
    Well they have refiled it, and I have hit them again with the kitchen sink,Summary judgement hearing is on 07/07/2015 and the TILA rescission will be center stage.
    I have tried to contact Neil, for a consult, but he has not gotten back to me yet. I know he is busy. I will let everyone know how it turns out.

  4. found at
    ** Reader, fwd: “Supreme Court says corporate entities cannot be used to evade Constitution” **

    Think any corporate entity.
    People create a corporation and then do things using the corporation name but they sign as actors.

    I opinion, where the writer has missed the fact that a court is a corporation, and subject to the same ruling.

    I opinion that the readers here recognize a bank is a corporation but fail to have the same field of vision to recognize a court is a corporation.

    Texas recently had a reveal (revelation) of corruption called ‘the dirty 30″ a thirty mile stretch of highway where an unprecedented amount of ticketing and fining and adjudicating people in the court had taken place.

    It was revealed from that reporting an area called the ‘Texas Triangle’ where the same activity was occurring.

    Of interest in the reporting was a nugget of information that the state regulates the percentage of revenue a city can generate from traffic citations, where that limit was 30%.

    Stay with me for a moment.

    Now think. In this situation if an audit provided an area received more than 30% of their revenue for a single categorized violation or set of violations the state can fine them (disgorging) some of the revenue for their activity.

    The point I’m making.

    Consider if people really were violating these purported rules, codes, ordinances, statutes (I didn’t say law), even if people were violating it, they city and courts could only collect 30 percent of their revenue from the violation.

    Consider if people were not violating the purported rules, codes, ordinances, statutes, (not law), the accused were adjudicated as guilty by judges and the people of the towns that wanted the revenue [make them pay] from the purported violation.

    After being accused of collecting more than 30% of their revenue from that activity, it all of a sudden wasn’t important to stop people who came through those areas who supposedly engaged in that activity.

    Answer this.

    How does a ‘town’ City of ___ know when ot do something and when to stop doing something? Is it not a government entity, does it not have a courthouse and judges who make decisions for it?

    One answer of many that can be made.
    A town or City of ____ stops doing a thing when the people who do the thing using that corporate name do not want to be personally accused of a criminal act where upon audit, their signature is on some paper where they violated some code enforced on how their business generates revenue.

    So as the article focuses on HOA, expand it to bank, expand it to court house employees, including clerk of the court or judge, expand it to county attorney who works for a corporation that is called County of ____, think of attorney who works for him or her self, or a law firm corporation that has an owner which means they work for who owns the corporation that has the name of the law firm.

    Start seeing the emperor has no clothes.
    You, I, we, One have been tricked because we have been speaking of the name of the entity, but it’s a puppet, someone is pulling the strings and trying to get you to not see them.

    Now, if a Supreme Court [business] that is a corporation underneath the [corporate] United States [go read the US Code if you don’t believe it, it’s there in definitions for United States – not United States of America], if a supreme court has lifetime appointed employees called judges, and their corporate structure is such that they can interpret how other corporations are to act when dealing with the people;

    What is wrong with us when an employee who makes ‘how much money a year?’ can sign a document for their corporation and in that document tell you, you can’t rescind your signature from an unconscionable contract, and you give them the same power as a Supreme Court judge to cancel them out.

    Who gave the employee of the bank the power to go against the constitution? To go against statutes, codes, rules, legislation that was written by people that were elected to represent more people?

    Who gave them power to say, you think you can have this but I’m not giving it to you?

    Who gave up their power over what is their right, privilege, duty, and gave the power to the employee of a business who can’t write a single rule to enforce on a single man?

    You did.

    Trespass Unwanted, Creator, Corporeal, Life, Free, People, State, Independent, In Jure Proprio, Jure Divino

  5. Thanks Louise

  6. Trespass, I am of the opinion the the “kitchen sink” method of complaining and suing is a good way to do things. We do have the right to rescind as you say the sun never sets of fraud. Thanks for that.

  7. Sorry LIS PENDENS that was

  8. Louise – lis penens , protect title and your right to do so. I did that but the judge exponged it BUT that was before Jesinoski, if appellate court got it wrong then so did the lower court. Not legal advice please don’t rely on my info.

  9. Cracker Jack will receive Xxx Amount over the life of the loan to service it … FEES

    Cracker Jack sells his servicing rights to Tootsie Pop.
    Cracker Jack got paid 30 years .. Oh never mind.
    Hire an Attorney…Protect YOUR Estate.

    Hit the Road Jack!

  10. Its the Fees Boss…
    Its the Fees!

    “Compound Interest ”

    Many Blessings to All!

  11. There is no statue of limitations on fraud.
    TILA rescission is one avenue, there is still the HUD-1 form with it’s accounting, and interest charged for 10, 15, 20, 30 years on fees that should not have been amortized. There are so many other avenues.

    People seem to forget or not want their name on the criminal complaint. If you are not the victim, I guess you will not file a complaint for what was done to you.

    If the rescission gets rejected, who name is on the letter, who is violating the law, did they even sign the letter?

    There are regulating agencies, and maybe no one knows how to use them
    If they don’t handle complaints, if businesses do what they are supposed to do; why do they have the complaint form?

    Why does the FBI website mention all the title 42 violations?
    Why does the FTC and CFPB and state AG and other agencies have complaint departments?

    Why does the BAR allow you to grieve an attorney, or the state allow you to file a judicial complaint on a judge?
    Why is there a grand jury?

    I am just trying to figure out if what I read is real, or distortion.
    Is it really that helpless, there is NO THING WE CAN DO?

    We have everything and nothing available to us?

    I sit and see the settlements these banks pay, and I know I did my part and filed complaints, and I wonder how many complaints from real people disgourged the current settlement amounts, for their acts.

    Then I think of how many more people could have been a part of the process, each complaint named a name, how many more people could have filed complaints to force these businesses to have disgourged more billions and maybe even trillions.

    Then I read comments that seem so ‘helpless’, even now.

    It’s as if no one can see a remedy anywhere unless they are filing motions and asking for discovery with a group of people who belong to the same organization and took oaths to protect their secrets and each other in a building that appears official but is administrative.
    They didn’t even tell you that it’s administrative.

    The billion dollar settlements came from a percentage the amount the businesses made from unjust enrichment, when stealing from the people who filed the complaints.

    If there were more complaints this would be shut down.
    People would have their homes.

    Oh well, the paradigm will shift when the people shift their way of seeing the things ‘shown’ to them.

    In due time, in due time. I’m patient.

    We have people slowly wiping the sleep out of their eyes and doing things, and the change is what you are seeing today. All of the chaos is because people are doing something different and the system is having to shift.

    Why send a rescission letter if One is not going to fight for the right to rescind? It’s as if One is asking their permission to act according to the law.
    Who? knows that One is not accepting the rejection? That can only happen if One makes it know to another that they do not contract by silence and acquiescence and accept the letter which is a counter offer of not accepting your RIGHT to RESCIND.

    Why stop?

    Trespass Unwanted, Creator, Corporeal, Life, Free, People, Independent, State, In Jure Proprio, Jure Divino.

  12. The statute doesn’t say anything about mailing it certified with return receipt requested … So obviously the banks are going to deny that they ever received the rescission letter from the borrowers. This is just more bullshit and another loophole that the banks will use to try and wiggle their way out of the rescission. So now what? The judge will agree with the bank that says they never received the rescission notice?

    The fact that congress wrote the statute so sloppily, not even taking the time to explain and articulate what should happen if the bank ignores the rescission letter …They write a law that impacts property and huge sums of money, and they fail to fully explain exactly what happens if the bank ignores the rescission? Years later after judges have foreclosed on rescinded notes and mortgages …now we continue to be forced to try and figure out all of these scenarios on a message board? Nobody in the legal community had the foresight to clarify these issues? No legal scholars besides Neil Garfield had the guts to speak up and say “wait a minute, something ain’t right here”?

    So now we went from placed in the mail …to ….when the bank says they received it …what a bunch of bullshit this is.

    They will simply say they never got it …and the judge will do cartwheels and jump for joy to rule in the banks favor. But the statute says nothing about certified mail … So what’s gonna happen now where you have a borrower who mailed it regular mail within the rules of the statute…and the bank claiming they never received it?

    Why didn’t the lawmakers write all of these likely possibilities out and clearly state what a borrower should do if the bank ignores?

    Why didn’t they clearly state that the lender loses everything after 20 days?

    What kind of half-assed legislation leaves so many unanswered questions remaining when so much is at stake?

    We’re talking about peoples homes ..and the lawmakers couldn’t take the time to make all of this perfectly clear?

    And those TILA Rescission laws have been misinterpreted so badly that they have actually been used to deny borrowers their rights all these years? We have years of bad case law due to this statute? Years of foreclosed homes on voided notes and mortgages …and here we are today still unable to even clearly understand what constitutes the actual rescission? Whether itt when the borrower says they mailed it … Or when the banks say they received it? The statute sends the victim back into the gangsters den …having to rely on some lowlife hood Ponzi sceme running rat acknowledge that they received your letter?

    Why are we forced to have any contact with these criminals? Why not just tell the borrower to file a rescission notice in the land records as your proof of rescission?

    Or maybe citizens should now claim that we created our own private electronic registry PERS and that we can fabricate a copy of the letter of rescission that was mailed …if the bank denies receiving notice, we borrowers can assert that our PERS registry can provide the proof of the letter that was mailed.

  13. Louise.. A Good Title and Estate Attorney can answer your questions.

  14. Yeah… But peeps didn’t pay the taxes and INS.
    Time has elapsed on both sides.
    Trust Me I wanted to sue their britches off!

  15. So, if the rescission notice is sent and a year elapses and voids everything, how does one deal with that period of time between rescission notice and no response from the bank? How does one file notice with the Register of Deeds office or county records? Also, is MERS noticed when this rescission notice is sent and received? There seems to be more even more questions now.

  16. thank you. finally the one paragraph I need to beat the bastards

Contribute to the discussion!

%d bloggers like this: