The one thing that is perfectly clear is that at some point the state legislatures who govern title to property already have a huge problem brewing under their feet. There is no doubt in my mind, that the solution will follow the example of the Murphy Act in Florida when title became unintelligible some 80 years ago.
The new acts will essentially reset title as of a certain date. All the previous illegal and potentially criminal actions will be ignored. All the people who were swindled out of their life savings will also be ignored, because in the end it is the banks who control legislation, not the people.
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see http://www.vice.com/read/when-you-buy-a-house-but-dont-actually-own-it
You have two problems looming here.
The first and largest problem is that most, nearly all, of the foreclosures were void and fraudulent. The credit bid was accepted from a party who was not the creditor. THAT probably means that any deed on foreclosure was and is void. In some states there is a “statute of limitations” on the void title which is waived if you don’t try to make it right before the one-year statute runs out. In Florida, after one year, you can get damages (i.e., money) but you can’t reclaim your title even from a void, fraudulent foreclosure. Hence the Florida legislature institutionalized fraud in exchange for campaign donations.
The second problem is even worse and might not be correctable by legislation or even a court order. For those who sent a notice of rescission and the “lender” did nothing, there is no doubt that if the rescission was sent within 3 years of the fabricated “closing” that the nonexistent “loan contract” was canceled and the note and mortgage were rendered void as of the date of mailing of the notice of rescission.
Under Federal Law that notice of rescission rendered the mortgage or deed of trust void along with the note. Therefore any action on the loan contract, the note or the mortgage or deed of trust after rescission is void because those “instruments” are void. Void=Nothing. As far as I have been able to determine, there is no statute of limitations on “nothing.”
It gets worse. If the homeowner recorded the rescission, then according to State law, there is notice to the world that title derived from the mortgage is void. And there is no statute of limitations on that either, as far as I can tell.
Anyone who has taken title arising from either of the above scenarios has no title. If and when the day comes that they are forced to defend the illusion of their “title” they will quickly find out that the title insurer will be of no help and will deny coverage. And the same holds true for lenders — but the lenders don’t care because their goal is merely to perpetuate the illusion of securitization.
Nearly all the foreclosures in the past 10 years fall under the first category, the second category or both. Any legislation that deprives the owner of property without due process (i.e., judicial action) violates the 14th Amendment to the constitution.
Judicial action is void if it is based upon nonexistent facts. The facts are nonexistent if they were never proffered in court or found, based upon competent evidence to be true, by the trier of fact. That is missing from virtually all foreclosures.
Accordingly, it is my opinion that this another situation where the constitution be damned. The courts and legislatures are continuing to advance nonsense: the pretense of valid loan contracts, valid notes, valid mortgages and valid foreclosure sales to valid creditors submitting a valid credit bid.
Ask these lawmakers and law interpreters four questions:
- did you hear or see any evidence that identified the party to whom the payments from the borrower were forwarded?
- If not, why did you assume that such a party existed and had authorized the parties in court to act on collateral for the benefit of the real creditor?
- did you hear or see any evidence that connects the real creditors with the parties who appeared in court?
- If not, why did you assume that such a connection existed with an unidentified entity?
Filed under: foreclosure | Tagged: credit bid, creditor, recorded rescission, rescission, title |
Where can I find the statute in each and every state? Could you please explain more?
In some states there is a “statute of limitations” on the void title which is waived if you don’t try to make it right before the one-year statute runs out. In Florida, after one year, you can get damages (i.e., money) but you can’t reclaim your title even from a void, fraudulent foreclosure.
We live in Rhode Island and the servicer sent us a copy of the promissory note with no signatures whatsoever. I guess, they might have forgotten to copy and paste our signatures on it.
Could you kindly elaborate what you said in our situation.
Good one
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and ex post facto, the state legislatures will write an act beyond the reach of the ex post facto clause? That will/should bring the constitutional lawyers into this fray. How’s the Murphy WORKING IN FLORIDA??
Reblogged this on California Freelance Paralegal.
OMG will this assault on the borrower/homeowner never end? And now they’ll get away with all their dirty deeds????
Where can I find this statute? Can you send a link or explain more. Thanks
“In some states there is a “statute of limitations” on the void title which is waived if you don’t try to make it right before the one-year statute runs out. In Florida, after one year, you can get damages (i.e., money) but you can’t reclaim your title even from a void, fraudulent foreclosure. Hence the Florida legislature institutionalized fraud in exchange for campaign donations.”
What about the power of the commercial lien…
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