Livinglies's Weblog

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If you don’t demand the right thing or if your demand could be interpreted as asking for something other than what you are after, then you are creating a backdoor through which your opposition will always escape. They already have the script to do that.

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If a loan account exists, then you lose. If it doesn’t, you can win, but only if you raise the right points in the right way and at the right time. In nearly ALL cases, I am 100% certain there is no loan account.

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By that I mean that no company is claiming to be a creditor to whom the money is owed and who can corroborate such a claim by producing a copy of the loan account starting with its establishment and including all debris and credits up through the present. If that is to be found, it is on the accounting ledgers of the creditor and NOT the servicer.

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Such claims are ALWAYS made by third parties without notice to the presumed creditor that they have named. They are doing the same as if I made a claim as your lawyer and named you as the claimant. But I don’t tell you anything about that it, and I give false information regarding the intermediaries and addresses where any money should go. I collect the money as if I am your lawyer, and you get nothing. If you get wind of the scheme I pay you some money to shut up.

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Assuming it does not exist, then any document that says the account was transferred is issued under false pretenses. In order for a legal transfer to have occurred there must be consideration paid by the transferee/assignee to the transferor/assignor.

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If no consideration is paid, the transfer on paper is considered a legal nullity in all U.S. jurisdictions. That means no transfer occurred for legal purposes and that any claim brought in the transferee’s name is false. This is why paragraph 4 of title insurance policies require an “assignor” to report the transfer and the actual amount of consideration for the transfer because the insurer only pays for losses, not notes or mortgages. In the absence of such information, there is no insurance coverage.

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It is the same with the enforcement of “mortgage loans.” They are intended to be restitution for the amount of economic loss suffered by a creditor — not a guarantee of the payment of the full principal amount recited on the note. This is considered axiomatic in the courts, but it is rarely argued as it should be.

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So if there is no loan account receivable held by any company who is claimed to be a creditor, then that company will neither demand nor receive any money for executing the assignment or endorsement — or allow someone else to execute such document” on behalf” of the company.

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And please note that the company claimed to be a creditor never actually produces a document that either affirms representation by the lawyer claiming it is a client or that it is the owner of a loan account and that the claim made is on behalf of that company named as a creditor. In fact, if you try to settle the claim and demand that the “creditor” acknowledge the settlement, you will never receive it.

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So this is a roundabout way of answering your question. There is no reason to pay consideration in the absence of something to pay for — i.e., a loan account. What you are looking for is corroboration that the account exists and corroboration documents showing that consideration was paid and not just recited on the transfer document on paper. 

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Here is what one homeowner just wrote to me:

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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.
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Neil F Garfield, MBA, JD, 76, 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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FORECLOSURE DEFENSE IS NOT SIMPLE. THERE IS NO GUARANTEE OF A FAVORABLE RESULT. THE COMMENTS ON THIS BLOG AND ELSEWHERE ARE BASED ON THE ABILITY OF A HOMEOWNER TO WIN THE CASE NOT MERELY SETTLE IT. OTHER LAWYERS HAVE STRATEGIES DIRECTED AT SETTLEMENT OR MODIFICATION. THE FORECLOSURE MILLS WILL DO EVERYTHING POSSIBLE TO WEAR YOU DOWN AND UNDERMINE YOUR CONFIDENCE. ALL EVIDENCE SHOWS THAT NO MEANINGFUL SETTLEMENT OCCURS UNTIL THE 11TH HOUR OF LITIGATION.

But challenging the “servicers” and other claimants before they seek enforcement can delay action by them for as much as 14 years or more. In addition, although currently rare, it can also result in your homestead being free and clear of any mortgage lien that you contested. (No Guarantee).

Yes you DO need a lawyer.
If you wish to retain me as a legal consultant please write to me at neilfgarfield@hotmail.com.

Please visit www.lendinglies.com for more information.