Who Can Legally Foreclose on You?
By Glenn Dickson
Bob Chapman said it best in his recent article, The Mortgage Securitization Scam,
“Only the owner of the loan can file. Thus, many of the titles are now subject to fraudulent conveyance. This means that foreclosure proceedings could be subject to legal challenge. Another question is could the foreclosures done since 2007 be nullified? How could a settlement be arrived at in a few months when there are millions of homeowners involved. The banks, which obviously deliberately broke the laws, will be responsible for fines and settlement with injured parties could cost them more than $10 billion. While this scenario moves forward the banks still are acting like goons and violating laws, to get people out of homes.”
If you are not familiar with the mortgage securitization scam, it goes like this:
1. The bank gave you a loan. (Actually that loan was a predatory loan because it violated federal laws and it was designed by the banks to fail from the onset. It was meant to wipe you out financially, and force you into foreclosure. Forensic Loan Audits prove this.)
2. The bank (usually immediately) sold the loan. (This allowed them to have an immediate profit and let some other “poor schmuck” take the hit).
3. The bank also gave MERS the right to register the loan in their database. (This allowed for clouded title – unclear ownership – and ignoring of the proper recording of property ownership).
4. The loan was normally sold into a Trust which could then be split amongst numerous owners and traded upon the stock market. (Still others could be making money, hand over fist, while you were slowly becoming bankrupt. This is where the Securitization Audit is first needed).
5. The bank didn’t bother to include the legal documents to the purchaser of the loan (note and deed).
6. MERS didn’t either. (Again, the Securitization Audit shows the truth about the trust that “presumably owns your note, and whether or not anybody really owns the note.)
7. Steps 2 through 6 were often repeated over and over and over.
8. The note is now lost, the deed and note are no longer together, the last time the note was properly registered with the county was probably when you were given the loan.
9. The bank now wants to foreclose on you, but they don’t have the note, so they just indicate that it is lost and the courts approve the foreclosure. (YOU DON’T EVEN HAVE THE FINANCIAL WHEREWITHAL TO SUE THEM – THEY ARE SAFE FROM DETECTION).
The Bank actually takes your home and evicts you. You move on. Your home lost, your finances and credit destroyed, with the possibility that the bank is now trying to sue you for the deficiency (that’s the amount that they say you still owe them because they auctioned it for less than you owe), and there is still the future threat that the real owners each could come forward and also sue you for the amount of the loan.
What’s Chapman’s take on this?
“There is no question a massive fraud took place. It was identified by the title insurance companies who the lenders are trying to blame this criminality on. The result was the banks went around the title insurance companies and used foreclosure mills, when the title companies wouldn’t play ball.
“The banks terrified that they had gotten caught tried to ram through Congress the Interstate Recognition of Notarizations Act to protect themselves and their criminal acts. The scum in the Senate and House used voice votes to pass the bill and because of the massive complaints the President pocket vetoed the measure. He also knew the bill would have been identified as unconstitutional.
“The bottom line is the banks had no legal right to foreclose and evict. That means the evicted can get their homes back. The new buyers are screwed because they have no legal standing because the banks sold them a house they did not own. The fraud committed by the foreclosure mills, at the behest of the banks, puts all foreclosures into question and even the status of those homeowners who are currently paying mortgages. That means if homeowners all stop paying their mortgages, they could end up owning their homes.”
Sadly, it is not enough to say hey, “I’m going to stop paying you Mr. Banker,” and think that “Mr. Banker” is just going to say fine and dandy. Since they are pros at scamming and pros and pointing out how they have done nothing wrong, unless you prove their violations, illegalities, and fraud, they will just take your home and send the sheriff to evict you. It’s being done to thousands upon thousands as we speak. You have to actually stop them.
“But, how do I stop them?” you may ask. The fastest, most effective and most affordable way is to get both a Forensic Loan Audit and a Securitization Audit done on your loan. “What are these, and why both?” you may ask.
A Forensic Loan Audit investigates the loan the bank originally gave you. It reviews your loan against all the federal laws and regulations to see if the lender violated any of them. A Securitization Audit investigates the actual securitization of your loan and answers the burning questions, “Does my lender have the right to foreclose on me? Is he the owner of the note? Who owns the note? Have my deed and note taken separate paths? Has the Servicing and Pooling Agreement for the trust my note belongs to been violated? Does the Trust that my note was sold into still exist?
With the results of these two audits, you then have the proof that your lender scammed you. He scammed you when he gave you the loan, and he scammed you when he began foreclosure. With this proof, you can get a Rockingham Negotiator to work with your lender to actually modify your loan and give you a cleaned up loan and stop foreclosure.
You can’t expect the government to step in and solve your problem before the lender will continue to act like a goon and foreclose on you, and the poor ignorant sheriff will come along and do the goon’s bidding.
Protecting yourself by providing the proof of a predatory loan and a predatory foreclosure is the only known way at this time to rapidly and effectively stop foreclosure. It is up to you to use the laws of the land to protect you and your home. Rockingham Associates is there to help you do this.
Rockingham Associates provides a number of essential services to homeowners and borrowers across the nation. They can help you save your home from foreclosure, and they can help you even if you have already lost your home. Their program is designed to help homeowners stop foreclosure, prevent foreclosure or reverse foreclosure. They utilize the federal laws that guide lenders and protect borrowers for unfair or predatory lending practices. Contact a Rockingham Representative at (775) 636-8229. Visit their website at www.rockinghamassoc.com .
Tags : foreclose, mortgage securitization, mortgage securitization scam, note, fraudulent, foreclosure proceedings, illegal foreclosure, stop foreclosure, MERS, Federal Laws, Bank, Clear Title, Forensic Loan Audit, Securitization Audit, evict, eviction, note, deed, who owns the note
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