It is supreme irony that individual scam artists are being prosecuted for false representations and deed theft — while the the institutional scam artists on Wall Street did the same thing raking in trillions of dollars, without a whiff of criminal prosecution.
see http://www.foxnews.com/us/2017/04/22/scams-push-foreclosure-fraud-to-limit-taking-victims-homes.html
What the fraudster did in this case was reprehensible and criminal. Any person who does this deserves jail. So beware of anyone who suggests that they have some nifty way to save you from foreclosure if you just deed the property to them. It’s an industry. And it is based on your payment of rent while they zig and zag with the banks.
Beware of any who promises you guaranteed results. The only thing that will stop a foreclosure judgment or sale is a court order from a court of competent jurisdiction. In the real world of the justice system there is no such thing as guaranteed results.
But when you look at the details, it is impossible to distinguish between the fraud visited upon the victim in the article linked above and the fraud visited upon the same victim that put him in the position of losing his home to another complete stranger.
Consider this:
- The “loan” you received was merely one part of a fraudulent scheme in which the money of third parties was swindled from them and then applied to create the illusion of your loan.
- The note you signed was to the sales agent for the fraudulent scheme and not to the party whose money was used to make the “loan.”
- By receiving the money you are obligated to pay it back. That’s called the debt.
- By signing the note you are obligated to make payments to the payee on the note. That’s your second liability and it WILL be enforced if someone pays real money for your signed note, at least before it goes into default. That person would be a holder in due course.
- By signing the mortgage deed or deed of trust, you have put your home up as collateral to guarantee payments on the fraudulent note, not to guarantee payment of the debt.
- The mortgage deed or deed of trust are deeds. How is the above transaction different from conventional deed theft?
Filed under: CORRUPTION, discovery, education, Fannie MAe, foreclosure, Investor, MBS TRUSTEE, TRUST BENEFICIARIES | Tagged: deed fraud |
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Then there are crooked mortgage servicers who want some distressed homeowners to sign up for mortgage modifications, perhaps, because they either destroyed or lost promissory notes with the original lender. They should be giving quite title instead.