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My opinion, backed by 14 years of research and securities analysis which I am qualified to perform, is that you probably have what I call an orphan debt. Based upon filings with the SEC and other documents I have reviewed I am quite certain of this. This is the result of an intentional avoidance of lender liability for violations of federal and state laws.
You can use this knowledge to your advantage.
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There is no question now about the coming wave of foreclosures. It is happening but thankfully it is delayed by extensions on moratoriums for foreclosure and eviction. This is the time for preparing for how you will deal with claims to bring your payments current or else face foreclosure. It is even probable that as soon as foreclosure firms get the green light they will just start the process by sending a notice of default.
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And remember that moratoriums do not cancel or even postpone payment obligations. They only postpone enforcement. So when the moratorium is over, if you were already in foreclosure it will go forward.
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Unless you have asked for and received a forbearance agreement that, for example, puts your payments off to the end, the banks will use the available procedures to enforce your note and mortgage against you. They want to because it is free money to them.
Filed under: foreclosure |
I think it is time to understand some things first.
1. It was not a DEBT to begin with. It was a commission or a one-time compensation to a borrower who performed financial services to the Bank – issue of a Promissory Note which bankers converted into a pile of MANIPULATED DATA which they sell from $10 (Bank of America) to $184 (Goldman Sachs) per $1 of the purchase price for a Note masqueraded as a “loan” which is always kept in Black Knight (62%) or another similar database.
To illustrate, if you SOLD to Bank of America your Promissory Note for $100,000.00 (called as loan secured by your home), BOA with help from Black Knight converted your information into a manipulated by BK DATA and this data is sold by BOA to investors for $1,000,000.00.
So, very minimal profit for BOA from this transaction is $900,000.00 plus your repayment of your commission with interest during 30 years; accompanied by all possible bogus fees; artificially created foreclosure; free house and tax-free proceeds from the sale.
2. Black Knight built a system where they in total secrecy (1) originate “loans” (since 2015) (2) get your credit report without your permission from a parallel to Credit Bureaus data source CoreLogic (as I recall former Equifax) ; (2) obtain from CoreLogic Flood insurance acting under glimpse of “Lender” who got determination “from FEMA”. In fact, CoreLogic merely uses FEMA Forms, all manipulations are done in-house(3) collect and process all your payments , either checks or electronic, via company called Transcentra and its branch Regulus; (4) cash proceeds for Big Banks; (5) conduct and manage all escrow accounts and reviews, all deficiencies are created intentionally to put you in default (6) send Notices of Default: (7) forge documents with fake “assignment”; (8) hire lawyers to proceed foreclosures; (8) hire realtors via website to sell your home to third parties.
Services do not do anything except pose as they “servicing” something and collect payments (none of it is true) and who can respond your inquiries and provide the ONLY documents to which Servicers have access – a payment history. All other documents are provided by Black Knight (if any) who send it to Servicers to present them to a homeowner.
Black Knight broke every mortgage into a myriad of modules each contains a manipulated DATA sold to investors as particles of INFORMATION about your “debt” . This information can be sold as performing or as defaulted debt; or even as options that your debt will default or perform (taking bets)
So-called Lenders and Servicers are FAKE parties, they are actors for hire to communicate with homeowners and if necessary present them some payment history to which BK gave them the access.
If you demand something more, like copies of your mortgage and closing documents – it will come from Black Knight (who will email it to Servicers)
For any PLMBS – forbearance simply solidifies the already internally recorded default. Watch out. And don’t buy the term “current” – does not mean the “transaction” was NEVER reported in default. Misleading term. And how did they report in default when you were never in default? Many means. So when you did default, it did not matter, you were already reported in default.
An “orphan debt? Kinda like that term. But it was not orphaned, it never had a home to begin with. Just restructured, reinstated, DEFAULT Debt – whether you defaulted or not. And, as parent, you have no say. You were not a party to the Pooling and Servicing Agreement that reinstated your debt. How do they get away with that? Only some knew. They were privy.
I think you are getting closer and closer Neil. Good luck.
Really good show Neil thanks!