It’s starting again. Foreclosures on the rise and everyone is “surprised.”

Homeowners have always legally and morally been entitled to bargain for and share in the infinite profits generated by securitization. So far they have received nothing. Homeowners have never been in default because to be in default there must be a lender, successor lender or creditor who has paid value for an unpaid underlying obligation due from the homeowner. No such party exists in the world of Wall Street “innovation.”

The only thing propping up fake securitization infrastructures is the inability of homeowners to comprehend their own transaction and the unwillingness to protect their huge (often hidden) equity in their homestead.

Wall Street has been extremely effective at buying articles on media outlets that downplay foreclosure activity. The fact is that the only reason why foreclosures declined is because of responses to the COVID pandemic.

Foreclosures are continuing to rise and even spike in various counties around the nation. And they are draining the entire economy of stimulus that is needed to offset the financial blows suffered by ordinary Americans. People are losing their wealth every day and it is going to investment banks and the third-party players who act in concert with them.

If Wall Street wanted to make its “innovation” legal it could have disclosed what it was doing (as required by law) and allowed for bargaining and competition. They could have paid homeowners a fair price for entering into unconventional financial arrangements in which they signed a note and mortgage for a nonexistent debt and agreed to have the note and mortgage crate a virtual debt with a virtual editor. Homeowners would have the option of entering into such an agreement for the sale of securities instead of being hoodwinked into thinking they were getting a loan with a company that (a) was no lender and (b) had no risk of loss. Wall Street banks didn’t do that because they don’t share with lowly consumers.

The general consensus of course is that foreclosures happen because homeowners fail to make scheduled payments when due. But this is no longer true. There is no payment “due.” It is impossible. There were millions of foreclosures conducted over the last 20 years, mostly based upon some premise of “Securitization” — either openly and directly or hidden and indirectly as when the named claimant is a bank but the homeowner transaction was paid off through securitization.

For over 20 years and millions of foreclosures, there has not been a single case in which a loan account was produced as evidence of existing unpaid debt. the reason is simple. There is no unpaid debt. The fact that your “Payment History” does not reflect the payoff behind the curtain does not mean that you still have a loan or debt outstanding. And it especially does not mean that the Payment History reflects ANYTHING in the accounting records of the named Claimant.

The Payment History is ONLY a report printed out by a FINTECH company using the letterhead of a company that has been designated or named as the “servicer”. that company neither receives nor disburses money paid by homeowners and so they have no records or data that reflects such payments or disbursements.

The probabilities of winning a foreclosure case are high for homeowners if they start early, make tracks in the sand and aggressively challenge ALL the presumptions of fact and law that are invoked by players involved in the scam.

When all is said and done it will be revealed that the homeowners bought nothing and sold something they knew nothing about. They knew nothing about what they had sold because the banks didn’t want to pay them for their name, signature, financial reputation, and collateral.

Here is what homeowners sold: the keys to a cash printing press. Without their signature, no securities could have been sold. The banks went on to make a minimum of $12 for each dollar paid to or on behalf of homeowners. Because homeowners were duped into thinking of the transaction as a loan they agreed to give back the only money paid to them or paid on their behalf (if any).

Homeowners have always legally and morally been entitled to bargain for and share in the infinite profits generated by securitization. So far they have received nothing. Homeowners have never been in default because to be in default there must be a lender, successor lender or creditor who has paid value for an unpaid underlying obligation due from the homeowner.

A default means someone has experienced a loss. There is no case in which anyone experienced any financial loss resulting from any behavior of any homeowner. The players have all been paid off completely through sales of securities. None of them maintains a loan account receivable on any accounting ledger.


Nobody paid me to write this. I am self-funded, supported only by donations. My mission is to stop foreclosures and other collection efforts against homeowners and consumers without proof of loss. If you want to support this effort please click on this link and donate as much as you feel you can afford.

Please Donate to Support Neil Garfield’s Efforts to Stop Foreclosure Fraud.

Neil F Garfield, MBA, JD, 75, is a Florida licensed trial and appellate attorney since 1977. He has received multiple academic and achievement awards in business, accounting and law. He is a former investment banker, securities broker, securities analyst, and financial analyst.
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But challenging the “servicers” and other claimants before they seek enforcement can delay action by them for as much as 12 years or more.

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2 Responses

  1. The lines at the BK 341 meetings in San Jose, Ca are getting longer, in recent weeks.

  2. And this time in the stealing of Homes of The People all across the Republic. We are seeing a majority of the Fraudclosures now in the names of something looking ie. The Bank NA as Trustee for XYZ Trust.

    They are Usually always substituted in the middle and allowed by the Kangaroo Courts. All while They have proved nothing. …
    The Judges, The Clerks, The Sheriffs all are at fault. This must stop immediately. Enough is Enough!!!

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