If nobody owns your mortgage note then you are in luck

It seemed like a great idea at the time. Sign folk up to mortgages, sell the mortgages to another financial player who then bundles the mortgage with thousands of others and sells various risk based slices.

It failed in three different ways – two of which we know about, but one which is just emerging.

Firstly the original mortgages were offered to people that couldn’t afford to pay them back, particularly when the so called “fixed” interest rates rose after an initial one or two year period. Much has been written about this (NINJA, Sub Prime etc)

Secondly the riskier slices of the mortgages were vastly under priced, and so the interest rate premium didn’t begin to compensate for the very real probability of a high rate of failure to service the loans.

The third one is a doozy. It turns out that because of the mortgages being sold and sliced and sold, the ownership of the original mortgage is often in doubt. It took Mamie Ruth Palmer in Atlanta, Georgia to bust this one open, in a court case that has just ended a six year saga.

Her bank tried to foreclose on her, but couldn’t prove that they actually owned the mortgage. The bank ended up in the humiliating situation of losing on pretty much all fronts:

Last month she received a settlement from the Bank of New York, the trustee for a vast pool of mortgages that included hers. Under the terms of the deal, the bank reduced Ms. Palmer’s loan balance to $59,000 from about $100,000 and has agreed to accept the proceeds of a reverse mortgage in full satisfaction of her obligation.

The settlement also eliminated about $12,000 in foreclosure fees added to her debt and called for the installation of central air-conditioning in Ms. Palmer’s home.

Roughly $10,000 in legal fees billed over five years by Ms. Palmer’s lawyer, Howard D. Rothbloom, will be covered by payments she has made toward her mortgage while she was battling foreclosure.

Fantastic. Mamie Palmer not only wasn’t humiliated, but she wins a major victory and also gets to keep her home and dignity.

…today, amid the freewheeling packaging of mortgage loans into securities that are sold off to investors, it’s much less clear who controls the note — all of which promises to cause banks enormous legal and financial headaches as foreclosures mount

The problems associated with banks that begin foreclosure proceedings when they do not have proper legal standing are now looming larger in the mortgage meltdown. Loans were heaped into trusts with little documentation of ownership or proper loan assignments — it was all about volume and the fees that came with it — and now that sloppiness is hurting both lenders and borrowers.

Not knowing whom to call is another effect of securitization. In the past, lenders knew their borrowers and vice versa; today the holder of the note securing the property is a faceless investor represented by a trustee, like the Bank of New York.

This all means that the investors that hold mortgage backed securities are less able to get their last recourse of forcing a sale of the house to get their money back. The implications are pretty severe for financiers, and pretty good for homeowners. At the very least it means that the foreclosure costs are going to be a lot higher than anyone previously thought.

Yet another middle man is the company servicing the loan; it has an obligation to the investor to extract all the money it can from the borrower. And because the foreclosure process can generate lucrative fees, servicers have an incentive to drag out the process, experts say.

This is scary – this means that there are agents that have the incentive to screw over both the home owners and the mortgage backed security owners. Not a lot of winners in this one.

Judges are beginning to catch on to all of this.

Arthur M. Schack, a justice on New York State Supreme Court in Brooklyn, is one of the judges who is putting lenders’ feet to the fire. In 14 published foreclosure decisions handed down since Jan. 1, Justice Schack has granted only one lender the right to foreclose. Of the 13 other cases, he dismissed one outright and dismissed 12 without prejudice.

So all in all this is further bad news for the housing trade, for the likes of Citigroup, Freddie and Fannie, but  good news for homeowners that are over stretched. But I also have the view that this is good news as it prevents mortgage security holders foreclosing on houses too quickly, and will thus promote alternative courses of action such as renegotiated loans (e.g. for 80% of face value). Renegotiated loans are great where it gives homeowners a chance to pay back a reduced loan rather than declare bankruptcy and walk away from unsustainably high payments.

About Lance Wiggs

@lancewiggs
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120 Responses to If nobody owns your mortgage note then you are in luck

  1. Mark Clare says:

    Lance

    You should submit pieces like this to SeekingAlpha (www.seekingalpha.com). It is easy to do – it gets this type of analysis to a much wider audience.

    Sign-up and try it.

    Cheers
    Mark

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  5. Q says:

    Amazing it’s even happening here in NZ.

    A friend was telling me about her Mortgage. She was trying to refinance, had to work her way through about 4 companies to find who now owned it.

    • Liz says:

      Hi I live in NZ and want to find out how find out who owns my mortgage. Can you get back to me with a contact name or number? I am a layer by training and I am thinking about a class case.
      Cheers
      Liz

      • wesley john says:

        Hi liz,
        i live in Auckland and have been studing this subject for some time. Where are you at? have you started your class action? i have just filed a injunction in Auckland re this very matter.
        i would be very interested in talking with you.

        • Maree says:

          Can you please contact me, as this is becoming common knowledge on the marae and is known as fractional banking. I maybe able to help. Maree

        • Maree says:

          Hey can you contact me, we are hearing cases on the marae and others are going to challenge the banks.

      • Maree says:

        Hi Liz. Contact me.

        • John Kiwa says:

          Tena koe Maree,
          just happened on this site,facing foreclosure here in BOP,need help fast
          have challenged the Bank to produce the note or loan contract
          Kia ora Wayne

  6. Raf says:

    You may even want to look more deeply into the legality of money itself. Do banks have the legal right to create “money”? Not according to the Reserve Bank Act yet that is exactly what they do when they create credit and call it money.

    There is a paper on my website called “The Nature of Money” which explores the legal nature of money. It goes back over 400 years to the real birth of paper money, known then as accommodation bills. Back in the 1600s judges were often involved in sorting out disputes as to who actually owed who money and how this could be proved legally.

    The paper is very detailed and very long but it is a fantastic piece of research. The author is a former bank risk analyst with a detailed knowledge of banking practices. He then studied law to see if there was a legal challenge available to private banking hegemony.

    You’ll find the answer in the paper.

    • sue says:

      Your dead on about creating money out of thin air.

      Here is a web site with 40 yrs combine valuable information. Free conference calls and how to write contracts in admiralty teaching free.

      Rich and Jack are amazing.

    • bettie baldwin says:

      what is the name of your website

    • Phil says:

      When you get a chance watch these youtube clips. You’ll be shocked who the Federal Reserve is. Watch all 12 videos if you can.

    • I am in Christchurch NZ as well. This article ‘The Nature of Money’ is amazing. It paints the picture so clearly even with legislation provided. I am going to prepare a document touse in case of needing to defend myself in court after using the letters provided in the article ‘sticking it to the bankers’ on the website mindwarpsectorfour. Hopefully court wont be needed as this article if sent to the bank should truely scare them and any lawyer who would choose to be an associate to the bank.

  7. MANI says:

    Dear Sir,

    Can you please give me the name and telephone number of a lawyer who can help me.

    I find myself in a similar mess. I want to re-negoiate my loan but has no clue who owns my mortgage !!!!

    warm regards

    MANI

  8. cmc says:

    I am in the same situation. Ownit Mortgage Solutions closed with me in 2006. I am now trying to negotiate the note and Litton Loan Servicing has done nothing but run me around since April 2008. Come to find out; Ownit filed bankruptcy in 2006. This may be the reason why Litton has been giving me the run around. Finally, I asked them who owns my note. At first they said that they did. I found out that they are only a servicer. They finally emailed me after a month and said that LaSalle Bank is the trustee for Ownit. Now I did more research and Bank of America bought them out. So I finally decided to call the Bankruptcy Judge in Ca, They refered me to a liquidation company. The Liquidation company said that they sold all of Ownit Mortgages. They will call me to let me know who owns it in a few days. So what this all comes down to is that if Litton wants to foreclose than they are sadly mistaken. Any opinions???????

    • mromano says:

      Hi CMC! I was just going through this today and I got the same run around. Do you have information of the liquidation company?
      Thank you!

    • MEK says:

      Hi cmc,
      I have been desperately trying to negotiate with Litton. My orginal note was owned by OWNIT as well… When I contacted Litton as to who currently owns my note, the only information they provided was “Ownit”….
      Do you happen to have any information that may help me out? Possibly the name of the liquidation company?
      Thanks

    • Momofonemasterofnone says:

      CMC- I am in the same exact situation as you, although I believe I have a viable solution. Please contact me at rbkmiller@hotmail.com so we can compare notes.

    • KRISTINE says:

      did you ever find out who owned your mortgage? I have a mortgage from Ownit in 2006 and need help…

      Kristine

    • Marguerite says:

      Hello,
      Please call this # (941)815-8389. Robert can help you.
      Marguerite
      Aug.27.2010

      • AMG says:

        I know this response is way late –welcome 2012!
        No mortgage lender owns it. It’s money created out of air. You can keep your house- you own it. Ha! Ha! I’m being sarcastic of course, but I truly think your loan was created
        ‘out of air’! Remembering a case many, many years ago- I forget the era, maybe the 1930s’?, of a homeowner who was about to lose his home, went to trial and the President of the bank, who ‘loaned’ the money, upon being placed on the stand for questioning, actually admitted that there was no money to lend in the first place? The homeowner was able to keep his house after all. I went thru Ownit originally, Litton Loan with 2 mortgages. Sky high interest rates, I’m Hispanic..and was in transition trying to find a job with a fiance’ who had to get a letter from his company stating yes he ‘will be’ eventually making this amount of money. Read the current news on Countrywide/Bank of America and lawsuit. I believe our situation with Ownit /Litton Loan is the same. I can tell you a story on how I got the loan with a very pushy, unscrupulous broker. They give you hopes that yes you can own a home even when questioning it and they tell that it’s still possible. The banks definitely were working it very very hard. It is sad how everything was handled. Horribly sad.

  9. cj says:

    If you are in California email me at fdrep@yahoo.com. Indicate mortgage note help.

  10. cmc says:

    cj,

    I am in Florida. Any suggestions????

    • Marguerite says:

      Hello,
      Please call this Pn#941)815-8389. Robert can help you if it still actual.
      Marguerite
      Aug-27-2010

  11. Maria says:

    Hi,

    I find myself in a similar situation. I have been trying to get a loan modification from Select Portfolio servicing, they said first, a
    forberance and then they did not modify. Fees and more fees, now again
    they want a forberance and they will not lower the interest rate.
    I find out that LaSalle is the trustee.

    Any ideas?

    Thanks,
    MP

    I am in Florida.

    • Marguerite says:

      Hello,
      Please call this #941)815-8389. It may be a solution to you!
      Marguerite
      Aug.27.2010

  12. Lucy says:

    HomeBanc closed my loan in July 06; a full doc, 30 year prime loan.
    Oct 07, HomeBanc, now in chapt 7 sold my loan to Chase Home Financial Services, Nov 07 Chase Home Financial Services sold my loan to EMC (Bear Stearns), as of March 08 EMC is now the mortgage servicing arm of J P Morgan Chase. Upon losing my job at the end of June 08 I called an requested a modification package. When I called to inquire about the modification option EMC told me I was denied because I was unemployed. I called back to request the denial in writing. The denial was due to the “loan is in a security and the investor does not allow modifications.” So that’s where it stood while the house is marketed as a short sale. The property has been on the market since May 2006. A contract for purchase was submitted to EMC on 12/2. The last call from EMC was to inform me that the house was approved for foreclosure on Dec 1. A call on 12/11 and a back dated letter postmarked 12/12. EMC cannot find the contract short sale package…in fact it was stated to me “they don’t have nothin’ ” This situation is in Palm Beach County, can only hope that Madoff ended up with the MBS Bond…..then it may be truly lost forever. All the while, EMC tries to be the bad guy.

  13. Florida Homeowners in Foreclosure – We know that not having the note gives the homeowner a great opportunity to challenge there foreclosure! We have started a website to help those who don’t have
    the resourced to pay alot of money for an attorney. Although we’re not
    free, we have much lower rates than most attorney’s and we have different programs available.

    • donessa says:

      I live in Boise, Idaho. I just got served with a 30 day demand for payment in full. I have been going through a bitter divorce & was suppose to be getting 1/2 of my ex-husband’s retirement. (that is chump change compared to what i lost in the money i had saved for my retirement that through his prior debts with the IRS i got stuck with his prior tax bill & lost all the equity in a home i had prior to marriage. when i had to refi MY home because somehow (probably because he made more money than me) he became the primary on my home refi. I lost all of my equity in that home. we purchased a home in Boise after he got fired and had to move to Boise. His name is still on that loan too as the primary. I am only on the deed. both houses were awarded to me in our recent divorce with the debt therein goes to me. I have waited 10 months for my 1/2 of his retirement since we were married 20 yrs. I have had 3 atty.’s who took my money and then bailed out after i sold everything i could to pay them. the last atty. spent approx. 1 hr. in court and charged me $3,500.00 in a retainer. then he charged me another $1,500.00 to do the QDRO. He did it wrong and it got rejected back in April. I paid for the QDRO but he said he was fed up with quote “my bitching” so he bailed because i would not pay him anymore to do nothing. He refused to change my decree papers prior to a final sign off on them to state for “Adultery” he worded the papers to state i got 1/2 of all of the 401K, IRA, Bonus program, and the company stock as of what was left in it as of the day before the decree papers were signed instead of what was in those accounts at the beginning of the divorce for the last yr. Of course my ex pulled out over $14,000.00 out of just one of his 401K’s and pulled out all the other money out just before the signing of the decree. Now that atty. contends because my previous atty.’s did not do Discovery that he had no way to find out what my ex had in those acct.’s. But i was Pro Se for 2 wks and I DID do the Interrogatories and Discovery. That same atty. was aware of it and had them in his office for the last 7 months. My ex’s atty. told me he refused to respond to them as i did not respond to his. Which i did but the first atty. I had did not send them to him. I have no job and have filed for disability and just got news yesterday i was approved( after waiting 2 yrs). the mortgage co. for the Boise home is GMAC. I am going to send them the 41 page questionaire on who owns the note. My home in Oregon is in the same situation. I actually had to get written permission from my ex to even talk to Carrington Mortgage to make house payments on the home i owned prior to marrying this idiot. I know that the note on it has been bought out at least once as Carrington was not the original holder of the note. I am filing complaints with the Idaho State Bar for the 3 atty.’s i have had who have screwed up my divorce beyond belief but in the mean time i am looking at two foreclosures. My ex filed bankruptcy on May 19, 2009 and remarried another sucker on May 22, 2009 so her income would not count against his bankruptcy. between the two of them they have approx. $6,500.00 a month in income and are now in the process of buying a new $300,000.00 home one month after his bankruptcy was discharged. I have spent all my money that should have gone to paying house payments on Atty.’s I sold my 52’Chevy to pay the last one then after the last payment i made to him which i had to use my house payment to pay him another $900.00 he told me i was “bitching” too much about the QDRO not being done. Any ideas? I am desperate. I have no where to go and i also have the poor innocent cats my ex left with me who will be put to sleep if i have no home for them either. I am taking my ex back into court Pro Se again for contempt charges but he has a very good atty. court is Nov. 18, 2009.

    • Mary says:

      seeking help

    • shonta says:

      Hello I am trying to find out who holds the note to my mortgage. Now I am paying Bank Of America but initally it was First Franklin. My father recently won a suit against bank of america because they couldnt prove they owned the mortgage to his property and a few other people won their case against Bank of America also. Before I was bought by BoA I modified my loan. Now I am recieving more paperwork to remodifiy my mortgage like it was never done at all. Like I said I am paying BOA now but I’m starting to wonder if they have any paper work on me at all since They should know that I have already modified my loan once.

  14. bryan says:

    hi found your site while on google. same boat here don’t know who owns my mortgage either. started out fairbanks then i think it went to select portfolio. which i can’t find either no where. can anyone help me i live in pa. area near pittsburgh. thanks any help would be great.

    • Donna says:

      Was your loan originated by Contimortgage/Contifinancial since you are in Pa???
      If so, check out CFNTrust.Com
      Not sure yet, but I think Conti mortgages put into pools may have been discharged in bankruptcy court in 2008.
      Check your SPS statement to see if they list themselves as a Debt Collector on the monthly statement. They admitted to me they are “Simply a Debt Collector” and admitted they DO NOT OWN our LOAN note!
      Come chat with us on Facebook site, Homeowners Against Mortgage Servicing Fraud.

  15. Peb says:

    Hi, I’m in California and in foreclosure… I asked my loan servicer who owned my loan and they told me that my loan was back by “various private investors”. They wouldn’t tell me who. Can anyone tell me if I would have a case to dismiss my foreclosure?

  16. Tim says:

    Hi
    Okay, this is cool because you folks get it!! Yeah! Servicing company loss mitigation tactics like loan modifications/short sale are a big waste of time… YOu have to get to the investors/guarantors of the note… Process simplified:
    Someone like one the typical servicing companies Originates the loan, they then sell the assets (your note) with a bunch of others (pool mortgage notes together)to a SPV (Special Purpose Vehicle) which is usually a corporation–many times created by the originator as a conduit for cash flow. Once pooled and sold to the SPV then they can sell interests to investors who can be anyone… Securitization… Why? It transfers the risk to the investors, then like stated above there are different risk levels (traunches)offered to investors based on the grade of the paper–is it risky or not? The riskier the greater the potential the return… Now the originator usually services the mortgage notes but they charge fees which are valuable.
    They can sell the servicing rights to a third party who will service the note. Cash flows from assets minus servicing fees flow through SPV to bond holder(investor)maybe different traunches unless a pass through. The servicing company ALWAYS gets paid, ALWAYS, they have ZERO interest in helping you with loss mitigation. IT IS A BIG SCAM– they do not want to work with you, they are debt collectors and if they don’t the money from you they will get it from the Guarantor. They always get PAID. It is in the servicing company’s best interest not to spend money on curing your note if you default. WHy? Because they always get paid.

    You need to deal with a loss mitigation company who has access to the investors/guarantors. There are very few companies that truly have this capability, we are a front end shop to such a company. We DO NOT charge upfront fees and we are compliant with federal regs… If a company wants to charge up front fees, RUN! If they don’t use third party trust accounts like a typical real estate transaction, run… Ask WHO they negotiate with? If the say your servicing company? Run they have no clue about true loss mitigation practices.

    If you want more info– this was pretty basic just respond to this post. There are alot of lies out there and misconceptions…Time to set the record straight and help folks. BTW this meltdown was constructed and we are paying the price.

    Best of luck!

    • Dave says:

      I’d like to talk to you, Tim. We’re in the middle of a foreclosure, and could use some good advice. How to I contact you?

    • Hollins says:

      Tim you said “If they don’t use third party trust accounts like a typical real estate transaction, run… Ask WHO they negotiate with? If the say your servicing company? Run”. Please explain what this means. Also can you state the entire process of finding your actual lender, if you know? Many thanks.

      • Tim says:

        Hi Hollins

        Sure, what I mean is you should not be charged up front fees for services in the loss mitigation space–practices would include retention programs such as loan modifications, and non-retention programs like short sales. Monies should be paid into a third party trust account and utilized as a negotiation tool to show investors of your note or the guarantor of your note that you could make a lower more affordable payment. Companies that claim and promise guaranteed results in my humble opinion are not being truthful. There are any factors that go into say modifications, it’s not about what the borrower wants to pay, it should be based off what the borrower can afford to pay. Through experience it can be closely determined what a borrower might expect to pay in terms of affordability, but the first thing to realize is assessing whether you can build a case to present to the guarantor of the note. The guarantor could be a hedge fund manager, it could be some pool manager in some foreign bank or it could be some insurance company, there is no way to know who owns your note without going through an investigative process. I am sorry I can not give you that process as it is proprietary. BUT, you have to understand what has gone on here in the industry with the securitization of these mortgage backed securities. When I refer to servicing companies I am talking about the company you pay your monthly mortgage payment to… Unless and it is pretty rare, that your note is a ‘portfolio’ note, there is an investor/guarantor that actually owns your note. Meaning it was sold off in a pool of other notes-hundreds, maybe it was packaged with some commodoties too and other things, then tranched to individual investors as part of a fund–I am trying to simplify it… Your neighbor might own a part of that mortgage pool in his portfolio and not know it—but a fund manager manages it.

        So my point was, if you want to do a loan mod and you call a loan mod company and ask “who do they negotiate with?” and they say the lender, they don’t know the real scoop and I’ll bet they ask for upfront money– You want to negotiate with the guarantor, the folks who either own or manage the notes. NOT THE SERVICING COMPANIES. SErvicing companies get paid fees to collect debt…that’s it. They are debt collectors and they get paid no matter what. INFACT, servicing companies do not want to cure loans… It is not in their best interest to do so…

        I hope that makes sense… There is a lot to consider when it comes to loss mitigation, there are laws too that may play a factor into how many notes can be cured within a pool. PSA–Polling Services Agreements. Particpating in government program like H4H, HAMP, TARP are up to the investors, it isn’t law.

        I guess I am saying, have expectations that aren’t based off of erroneous information supplied by loan mod companies… I was simply saying that in my opinion those two questions will help you weed out between the scammers and the real loss mitigation folks.

      • vince says:

        hi tim, very intersting information from you. i think that you are the first guy i ever encountered in the past year of my loan mod process that has been candid and acually accurate. may i get your contact information..if you dont mind.

        thanks.

    • Eric S says:

      CA Loan originated with National City. Transferred to National City Bank, then transferred “for consideration received” to MERS. Now MERS transferred loan to their collection company. By the way, GMAC is the servicer as of 120 days late. NOD filed.

      Help. I know there was a case won in the 9th circuit in Nevada because note could not be produced.

      Opinions?

      • Marguerite says:

        Hello,
        Please call Robert (941)815-8389. he may help you if it is still actual. God Bless!
        Marguerite
        Aug.27.2010

    • looking for someone, might be the company you spoke of. Tired of gettin screwed around, about to go postal. AHMSI services my note but the last deed transaction is from Deutscha bank to an attorney group to liquedate/foreclose on 12/31/07. Filed ch13 to avoid but payments doubled and everyone I talk to wants up front or short sale or to roll all the bs that they have added to the loan. Anyway, if this is legit and truly genuine email. If not WELL

    • Patricia Lipe says:

      IndyMac turned down our HAMP application due to not having the requested documentation (which I faxed in repeatedly). After the fact, I found out the wording of one sentence was missing! So, Indy Mac does not have the note (called them). The Note is invested in by Fannie Mae (who do not have a copy of the note) – they are investors. I contacted the original lenders (LendSource) who are supposed to email me a copy of the note and who it was sold to. Bank of America was involved at one point as a servicer (I believe). Who can I turn to to do some loan investigation here in Minnesota. Thank you.

    • curt says:

      I would like to talk to the loss mitigation Co

      call me 301-831-9480

      I have been in loan mod app for almost a yr and I just sent BofA a QWR which reads the riot act and more

    • Samuel gblah says:

      I own two properties in New York. one in the Bronx and another in Brooklyn. Both of these properties have been transfered more than 4 times from one bank to another. I have also refinanced both properties only to find that the mortgage has increased. Now both properties are in foreclosure. I am in divorce and my former wife is occupying the house in the bronx while I am in the Brooklyn property. A real estate company is trying to short sale these properties but no buyer has come foward yet. Honestly, I think that none of these banks own the note to my property but it is hard for me to find out. Just last week, EMC who hold the mortgage for the Bronx property transfered it to Bank of America. This transfering of my mortgage must have happened countless times. How can I find out if I have grounds for a challenge to the foreclosure? By the way, the Brooklyn property’s bank is American home mortgage servicing company.

      • joseph says:

        American home mortgage servicing co. is not a bank they are a debt collector from Coppell tx and they have changed their name

    • glenn robbins says:

      looking for help had mortgage with new century mortgage ie fdic closed them down ,then country wide serviced the loan most are in jail from what i know now its bank of america trying to foreclose on me tried loan mods etc ,..there a joke fraud way more to the story but that a short part of it if someone can help please conatact me

    • Curt says:

      Hi my brother hasnt been able to pay his mortgage because he got laid off due to the economy – please respond to curtmarts@comcast.net

    • P Denise says:

      Hi. Thanks so much for the info. I keep having some guy call our home talking about bank of america fraud and how he can help us get our mortgage owed lowered. But, it will cost us a couple thousand to do so, and a bunch of other stuff. Do you know anything about this? thanks for your time
      Sincerely,
      Denise

      • Lance Wiggs says:

        Sounds like a scam to me – run a mile. (too good to be true, money up front = scam) L

      • Mari D.T. says:

        SOUNDS TO ME LIKE SCAAAAMMMMMM!!!!! DON’ T FALL FOR THEIR BS!!!!!
        I had a mortgage law group hounding me for weeks, guess they thought I’d be easy pickings.
        When I finally let them know their calls were not welcome, oh boy, did they show their true colors then.

    • laura says:

      I’m fairly new to all of this and am fighting my fraudulent foreclosing servicer trying to find out who, if anyone, really owns my mtge note. I have been turned away from lawyers and am not sure how to approach court…. but i do know I will be there soon and want to be able to defend correctly. Any help you can provide would be appreciated.

    • Gary Hudson says:

      Hi Tim,
      I note this post is from 2009! Are you still active with your company? Because I do have some questions.

      • Dee says:

        I was wondering the same, since it is 2014! I wonder how many of these people here, kept their homes….? Been fighting for my home for over 5.5 yrs.- here in NH. In court now, but do have some serious questions myself. Is there anybody out there? Can you hear me…

  17. TA Webster says:

    check out LivingLies dot Word Press dot com –

    AWESOME STUFF

    In FL check out Mario Kenny dot Word Press do com or

    TA Webster dot spaces dot live dot com

    DO NOT LET ANY OF YOUR FAMILY OR FRIENDS WALK AWAY FROM THEIR HOMES – PLZ COPY AND SEND TO YOUR NETWORK – THANK YOU!!!

    • Donna says:

      This is Neil Garfield’s site! See his videos on Youtube as well since this info. is deep at first! Keep studying it and it will come to you. Garfield is brilliant! Go to Homeowners Against Mortgage Servicing Fraud on Facebook to chat!

  18. Bob Eads says:

    What happens if who ever holding your note or part of your note, writes off the debt or the company was liquidated. So if your note was wrote off for business purposes or sold to another party for pennies on the dollar why are we still paying full price with intrest to the servicor, when the note may not exsist or does not exsist in the same form it did when you signed it. If your note or parts of your note were written off, because it was bundle with other debt that went bad and the holding company takes the loss, and shows a loss,than pays less taxes because off this loss, it seems that some where there are hughe gains not being shown by one of the parties involved if some of these notes are still making good on their monthly payments! If the tax system worked as it should we would not need the federal government aka(tax payers) to make loan modifacation, these notes have already been modified the notes have been written down and or off! So it is very pssible that part or all of your note does not exsist and you paying for those who can not and every dime you pay is profit and is not being taken as that, by these companies!

  19. JR says:

    ok, i have been trying to get a home loan mod with select portfolio for about 6 months and nothing has happened yet. i need help, i filled out their paper work and put down my monthly income, about 3000 a month. they say i do not qualify for a mod in loan amount and want to lower my payment by 100 dollars a month. they are asking for a forbearance document and want me to sign it and mail it and pay 2400 a month. what can i do? i am in california and have my own business and had a sale date set for the first week of jan 2010. now it is being pushed back and they want the letter signed and returned in a week. what is my next move? should i ask for proof of who owns the loan? how will that help me? i know the loan has been sold at least 3 times since we first signed the papers as the original company is out of business. some one help me please, i have 4 kids and a sick wife and i dont want to loose my home next week

    • Lance Wiggs says:

      Get a lawyer. A good one. Oh – and I certainly would not sign something that commits you to something you cannot afford.

    • Marguerite says:

      Hello,
      Please call robert (941)815-8389. he may help you!
      God Bless!
      Marguerite
      Aug.27.2010

    • Donna says:

      JR…SPS will not work a mod with you because they can not! They are just a pretender lender! They are debt collectors! I hope by the time this letter finds you, you got help! Many videos, info. and chat on Homeowners Against Mortgage Servicing Fraud on Facebook. God be with you!

  20. JR says:

    Lance, would a lawyer really be able to do anything? at this point i am ready to it quits and just give up my house!! it seems no one cares and if they dont want to help me i doubt paying some high priced attorney is going to help. from all i have gathered, sps doesnt ever help anyone because they dont really own my loan. they get paid more if i default and get paid paid either way. im so distressed and emotionally burnt out

    • Lance Wiggs says:

      You need professional advice from someone local and from someone that can make things happen. I’m in New Zealand.

      Talk to your local political representatives, write to your state and US congressman and senator. Ask them for help in ways where they can actually deliver.

      One alternative is to accept you will lose the house and make plans accordingly.

      I’ve had ups and downs, and it’s important to keep perspective. Stay in control, stay cool, regardless of what fate delivers. Have a back up plan. If all else fails then you still have your ability to work, your friends and family and your dreams. Worst case you can abandon everything, you can cash up and travel or move, you can start from scratch and suceed like countless immigrants do.

      It’s a horrible situation you are in, and I feel for you.

      • Nick says:

        Hi Lance, well if there’s one thing I’d do differently it would be not to take on the Bank re credit creation in court (even if it’s true). I had all the info in the world from the RBNZ, Bill English via the info Act, even a ex prime minister…… Bah Bah Bah and nailed Council for the Bank on a couple of key questions. However the Judge (if you can call him that) still ruled against me. I will be going for an appeal but things don’t look good. I’ve got my solicitor to send them a letter to show us the doc’s under section 104 of the Property Law Act 2007. Any help Lance would go a long way. Nick.

    • Bill says:

      JR. I am also in NZ so don’t have a lot of local knowledge but have you tried talking to HUD or similar state or federal agencies? A quick Google search found this Foreclosure Avoidance Counseling page on the HUD site. Also try this link for tips on avoiding foreclosure.

  21. Nick says:

    On the copy of my note the Lender is National City Bank of Indiana and the note holder. The servicer of the loan is National City Mortgage.

    Is the lender also the “Owner” and “Guarantor” of my loan? Or at least originally?

    Nick

  22. jdvon Logan says:

    hi everyone, been reading all your comments. Same ol complaints for the past yrs since the tarp was granted to the very institutions that are robbing us! Bank rupcy is not always the best solution. But if it brings out the nitch to sting the servicers because of who owns your notes, its a good thing.

    I am 16 months behind on my mortgage with BOA, who are the servicers of my loan, they are not the gaurantors, nor the owners, they took over country wides toxic loans, mine was included but it originated with quality loans, ITC and others.

    I dont intend to pay one single dime on this Mortgage, because BOA is operating ilegally all these Mortgages. When they foreclose on me, I will take them to BK court. Why do you think they have allowed me to have so long to 16 months without making a single payment. (I think it was the only way BOA could qualify for the Tarp funds) I know many many others in the same boat.

    Others have actually rented out their property, they have been collecting the rent and putting it into a trust account. Meanwhile the Bank is screwing with them. I think these folks are smart.

    We need to use the wise bank rupcy judges more.
    All that is legal we can use, WE SHOULD USE IT.
    THANKS FOR YOUR IDEAS, THEY ARE GREAT,

    GOOD LUCK EVERY ONE.

    • Kathy Wigley says:

      My mortgage was originally with Countrywide and then I refinanced through Ace Mortgage Inc. They sold the loan to another mortgage company who sold it back to Countrywide who was taken over by Bank of America. I was told my house would be closed on in 60-90 days, Oct 2010 being 90 days. For now it doesn’t look like it will. Tried to do a short sale which BOA wouldn’t agree on. Now that I have information from this link:

      http://www.consumerwarningnetwork.com/2008/06/19/produce-the-note-how-to/

      I am going to request they show me my note with my signature, original signing date and with original mortgage company.

      BOA had transferred my account to their HUD Department and I am wondering about having access to my house. I do not live in it at the moment.

      • shonta says:

        BOA seem to be doing alot of shadey business. My loan was bought out by BOA also and im starting to wonder if they even have to note to my property. My father recently won his suit againt BOA along with other people who all got there house free and clear because BOA never showed up for court dates and couldnt prove they even owned the homes.

  23. On a slightly different note…

    Secured borrowing on property can lead, it seems, lead to finding you have been mis sold mortgages.

    I read earlier this year that a lady who borrowed less than 10k with her home as security lost her job, was told that the payment protection insurance could not payout because of implications to do with her partner (the main bread winner).

    The solicitor she contacted found traces of severe professional negligence and ended up making a claim against bother the mortgage broker and lender for wrongfully giving her a self cert mortgage.

    This is just one example of why credit is so hard to come by these days… Money hungry people!

    • Yeah good point and remind me very much of the Mis sold Right to Buy scandal effecting thousands of ex-council tenants who have been left out of pocket by their own solicitors and indeed their mortgage broker. Exploitation at its worst!

  24. mp3rmd729 says:

    We’re pro se plaintiffs in an unlawful foreclosure on our home. We are sueing 5 companies, corporations, banks and loan servicers. I can send you our actual case (opened June 11, 2010) if you would like to review it and give us any tips or pointers on how to fight this in court. Our case is pretty hard-hitting in that we are going straight for the “note” being discharged as it was “Monetized” and therefore there is NO NOTE HOLDER BECAUSE THERE IS NO NOTE. That is why all of you are having such a hard time figuring out who the real note holder is. Your original lender “monetized” the loan, per banking rules and procedures. If it was “monetized” (turned from a paper contract or instrument into tangible money, or a written entry in a ledger or computer database as a number)…then the debt has been paid to the lender, rendering the “note” no longer valid. Then the “invalid” note is passed off to a Loan Servicer to continue to collect money for a debt that does not exist. My case is already public information, so we have nothing to hide. We want to help others with this information…and we are open to any suggestions, tips, pointers, advice on how to fight this in court against all the Defendant who are insisting they have right to enforce the foreclosure because they somehow have assumed the roles of trustee under the deed of trust, on behalf of the supposed beneficiary. This argument is “complicatingly simple”, as I call it.
    I do not have room her to explain it in its entirety, but I can discuss it via email if you want. My email is mr3rmd729@gmail.com. I can PDF you a copy of our Complaint which contains the position we are taking, complete with all of the laws we are citing. A few examples are: UUC Article 3 § 3-203 Transfer of Instrument , Rights Aquired by Transfer; UCC 3106(d) Unconditional Promise or Order (espcially the very lastsentence in section (a) which states “but if the promise or order is and instrument, there CANNOT VE A HOLDER IN DUE COURSE of the instrument” which pretty much says it all; We are stating that all of the 5 defendants commited prima facie trespass of the express terms of Deed of Trust(DOT) that void ab initio the entire foreclosure processl Cal. Civ. Code 2934(a) and 2934(20)(4); California Commercial Code 3301; other contract laws, banking procedures, statutes, etc. Then you can look them up for yourselves and possibly use these points to help you win your case. Best Wishes to all pro se litigants fighting to save your homes!

    • loretta spignardo says:

      will you please email me the complaint that you filed as my foreclosure and original note is with wamu
      wamu is no longer and i was in a divorce at the timw that someone burned down my 3 million dollar home (arson)
      insurance paid wamu 1.6 million and now that was in 2008 and of course no one knows who has the money or the note

    • Tkona says:

      I would like information about your case, tkonaresearch at gmail dot com

      I appreciate your help
      Thanks

    • SHAMEKA J says:

      Hello mp3rmd729

      Please email all a copy. You case sound just like mine. I have just hired an attorney. Your information for me would be very helpful to me on saving my home. Thanks and Good Luck!!!

      • Marguerite says:

        Hello,
        Please call Robert (941)815-8389.
        He may help you.
        God Bless!
        Marguerite
        Aug- 27-2010

    • George Dunnigan says:

      Friend
      Can you please send me a copy of your complaint. I am in a similar situation with franklin bank that failed and FDIC and its successors.

      Thank you George Dunnigan

    • Tim says:

      Yes. Please send me a copy b/c i am in this same situation with Select Portfolio, its time to go to war.

    • D.J.D says:

      dnndrz@aol.com / would like pdf of complaint been flip from BOA to SPS

  25. gjf@citlink.net says:

    Homeowners , File to see the note if you get no proff of ownership take some gasoline or any other or what ever burns well and burn the house down. Just a little in conveinance but let the big boys and the government fiquire out who ownes the mortgage. It is alittle in conveinence you might go to jail but not for long because in reality you are no more crooked or unlawful than they are.

  26. Gary says:

    I know I repeated things twice, but you have no more recourse toward theae big Wallstreet base companies than the man in the moon. The government has made sure of that.If there no other recourse or if you feel their is no recourse then burn the asset even though you dedicated your life to and let the big Boys, the one in essense that started all this, let them fight for their rights to ownership after all they got all the money compliments of the United States Of Wallstreet (A.K.A) formerly known as the united States of America.

  27. smurf says:

    We been having a problem with MortgageIT and EMC since 2005.We still have the house.But we stop payment because first when we ask for a modification they send us a letter saying we could not get a modifcation.Then they send a letter to our bankruptcy lawyer that they would modify the loan.We gave then all our information we were working with a housing consoler but they wanted noting to do with the housing consoler .They would only talk to my husband and I. We ask if the our tax could be included with the mortgage they said yes then they raised our mortgage.Our was 2403.98. They send us one letter that our mortgage payment would be 3,922.60 then we got another letter saying that the mortgage payment would be 4,688.68. So from their on we just stop paying now they send us a letter that our loan is in default 426 days and that our Mortgage payment is in default 34,959.87 and to make payment by 9/30/2010.Then we got another letter since our loan was to reset on 10/01/2010 that our new mortgage payment is 2,719.23.It said this payment is based on your current interest rate 8.6500% .I get so many different amounts from them that I don’t know which is right.We were on bankruptcy and they still was charging us the late fee.Before they would charge us inspection fee property valuation fee then outstanding advances then money was put in a suspense account . We also had a problem with them because they never gave us our Good faith esimate.I Never really looked at all the papers they gave us .When I started asking question on the Internet in 2005 and in 2007 someone told me to check 3 of the papers one was the good faith estimate , HUD 1 form Truth in lending paper to see if all the amounts were the same on each paper.well to my surprise I did not have the good faith estimate. Then I called them and ask then for that paper and they would not send it we had to write to the Banking Department and to Respa.Then they send a copy. After looking at the 3 papers the numbers were different so I wrote to then again and they said we such have told them in 2005. Then we told them how could we if we did not have the good faith estimate paper and we did not know until someone told us.well anyway it stood like that noting done about it. when we first refinance the mortgage their was lot of problem because we wanted to cancel the loan and none of them would answer us.We wanted to cancel because it was not what they told us it would be. What they did was screw us with this loan.Now they are sending us papers again that if we want a modification if not that they would start foreclosure with out telling us.So we don’t know what to do.

  28. Justin Boyce says:

    I just watched a clip on 3 news in nz where the people selling their house where quoted a 2700 dollar break fee and then 5 days later this was changed to over 17000 dollars.

    The mortgage industry worldwide is out of control and it seems governments don’t want to do anything about it. In the us several companies that lost money even got bailed out to the tune of hundreds of millions of dollars.

  29. gloria says:

    contact me to discuss about these issues if you are in florida i’m also a pro- se litigant

    blessings

  30. Bonnie says:

    I live in Michigan and am having the same problem with BoA as every one else. Is there anyone who helps with this in Michigan or do I need to hire and attorney?

  31. curt says:

    I have the most potent QWR letter (Qualified Written Request) to give your lender – I submitted it to them showing all the probable violations and requesting massive documentation. This is so i can get them to do loan mod – after a year they have denied it to me for one and one reason stated: My loan is on time – one of the Investor criteria is that it not be on time! I can email the Word doc to you curtmarts@comcast.net My next step is to pay $850 to a Loan forensic audit firm in Virginia to scour thru all those docs to find the mistaks and violations to UCC and Federal law, etc
    I can then have an attorney sue BofA. There re 30,000 individual law suits against bank/lenders now as defendants. The best defense is a real good offense. The last 60 Minutes proved that bank VP’s (including BofA have bee recently forging signatures on docs to close the gaps that have been exposed over the last year in the industry – they;re digging themselves deeper into it – good!
    – Curt (It’s not over till we say it’s over – dont fold!)

    • Cox Lujon says:

      What if a bank files an affidavit for lost note , then cancel the note after borrower dies ,,but later says it was all in error ?

  32. Stop Whining says:

    Let me get this straight, homeowners who rightfully and knowingly have signed a contract and a legal promissory note are now blaming the banks for their unwillingness to pay back the loan. They are scamming banks by saying “show me the note.” You knowingly under your own content signed a promissory note to pay back the loan. Hence that is a legal contract, a PROMISE. Who cares where the note was sold. I don’t care if a pile of dirt owns the note, you have a legal obligation and contract to pay back the note or you should go through foreclosure. What a scam, you should not have the right to get a loan! You know you owe money on a loan, yet you try and intentionally deceit the lender by saying “show me the note”. Last time I checked that is fraud: intentional deception made for personal gain!

    • Lance Wiggs says:

      So were the banks clean here? I think not – the banks were not responsible lenders, and their agents even less so.

      • Stop Whining says:

        Majority of the fraud has happened with the shady mortgage brokers and fly by the night loan companies, who then sold the notes. Most of the banks bought the bad debt and did not know the fraud was happening. Just like BOA assumed all of Countrywide’s shady business. Angelo Mozilo should be in jail. No the banks are not clean, they should go after the individuals who ran the underwriting and wrote loans that should never of been loaned out.

        Fraud is intentional deception. Homeowners who know that they have a debt to pay and are intentionally try to deceit the lender of the note if fraud. You signed the mortgage, it your obligation to pay or you go to foreclosure. Not saying “show me the note” and trying to get away with not paying.

    • Omar Norwood says:

      Listen idiot! A default on a loan is “NOT” a criminal offense. Due to the economy, lots of people lost their jobs and couldnt pay their mortgages. Your are right about “legal contracts”, but the banks and lending institutions must honor their side of the contract as well which is governed by the UCC, federal, state and county laws. They have the bigger burden of making sure that when these loan contracts are bought/sold, that they make official recordings of these transactions. By law, they must pay the counties a recording fee, so that it is recognized by the law. The problems started when the mortgage/banking industry created a centralized-computerized system that bypasses these lawful proceedures. Once this system was up and running, the banks and lenders were buying and selling mortgages soo fast, that they disregarded the legal requirements when it comes to the contracts. Some, actually quite a few, banks even went as far as to change the numbers on contracts after the borrowers signed the promissory notes in an effort to maximize profits. This didnt even faze them because they knew they were going to sell the loans fast and take profit. Its sort of like running a “pyramid scheme”, the loan goes from one spot (lender) to another and the lenders are being paid each time as they transfer the loan from one to another. Eventually, the last lender “will” get caught holding a worthless peice of paper and cant collect. Why worthless, because the law wasnt followed at the beginning of the loan. Why do you think these lenders get rid of loans so quickly? They dont want to be the ones to not get paid thats why. So how do you stop this pyramid scheme from continuing? THE BORROWER MUST FILE SUIT! That’s when the scheme will fall apart and the court will rule if favor of the borrowers as a punishment to the banking industry for violation of mortgage/land contracts. Again defaulting on a loan is not a criminal offense, but frauding the counties out of recording fees, forging documents, stealing equity and property are crinimal offenses. “Show the note” destroys the pyramid scheme so it must take place Period!

  33. Curt says:

    Lance, then why are judges ruling in favor homeowers in many cases when the lender cannot produce the original note? Other things also such as placing signatures on the docs long after the fact to show the court, or initially accepting bad paper (unsigned transfers, or auto/robo signatures)

    In the vast cases, where the loan is is shown to be without proper securitization in the chain of transfers, then it is esentially an unsecured debt like your credit cards – yes still owed, legally, ethically, morally, but unsecured, so they cannot legitimately foreclose on it and take it from you.

    The whole idea in most of these cases is simply to get an out of court settlement to modify the loan to make it affordable enough for the homeowner to stay, or in cases of foreclosure, to stop it and do a reasonable work-out with the occupants.

    But the banks and their servicers make so much more $ from a foreclosure due to the insurance and resale.., much more than doing a permanent modification or principal reduction, obviously. Many lender offers to do a mod are only temporary reductions in interest rate – not all that helpful in the medium to long term – this bad economy and joblessness is not going to clear up by next year.

  34. D & G says:

    I found this page through a google search, and am so glad I did! I’ve read the comments, but am not sure if anyone can help with my situation, but I’m hoping so… My loan has been sold a number of times. The last owner was Bank of America, who gave me the royal runaround when I tried to track down who owned my original note. I’m not proud to say it, but I got frustrated and gave up. Now, I receive a letter that they are selling my loan on Dec 1st to Nationstar, a very disreputable company, and I still have no proof that anyone owns the note but will have to start over trying to argue the info out of them.

    I am not in default, have a perfect payment record, yet Bank of America would not refinance my ludicrously high interest rate (BS about me not being able to afford the payment amount, which would be a few hundred dollars lower than I *already* pay them each month). That’s far from all, but this comment is long already, so long story short I believe I have been clinched into a scam.

    I’m in NH, is anyone qualified to offer legal advice on some matters for me?

  35. whats up, love your blog about is act mortgage audit a scam

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  37. Jack says:

    Have you heard about the change of Insolvency Law in the UK regarding mortgages? Now when someone files for bankruptcy, providing the property is in negative equity they can keep it, that was always the case, but now the Trustee can keep an eye on the property for up to 5 years and if it increases in value they can seize it. Bear in mind bankruptcy only last for 12 months in the UK! Personally I think it’s terrible.

  38. CPP Claims says:

    As well as mortgage mis-selling. The banks have now been finded for mis-selling CPP policies. They have been fined over £10 million!

  39. I just wanted to add to this excellent blog. We are all on right street but wrong house concerning the Secuitization issues. Strongly suggest that everyone look at http://www.ourlemon.com. Professor R. Wray and Professor Levintin (sp) and a hand full of attorneys are now recognizing the right house. You can also hear author of our lemon and some of his smart & intelligent followers on LIVE STREAM presentations on http://www.hofj.com. Ultimate goal is to execute a smart and successful Quiet Title Law Suit to remove the junk on your title. Love some of the smart comments above which I about to explain, but first would like to let you know – I worked for the bank people as a naive mortgage broker who ran a warehouse line for my company ( a giant credit card to fund loans upfront and then bought by subsequent buyer). This is what is not disclosed to you. There is a paper note and an illegal electronic copy of paper note. This is what should have happened—-the originator ships the paper loan file to the next potential buyer. The buyer will review the paper file and decides whether or not to buy the loan paper file. This process took me anywhere from 2 to 4 weeks as there are many files to review by buyer. Once the buyer agrees to buy the paper note, then the purchase transaction is properly negotiated with exchange of monies and the seller properly endorses the paper note to the actual buyer and FINALLY, the buyer requests proof of the recording numbers of the recording of the Deed of Trust and the Assignment of Deed of Trust to the subsequent buyer to make official Public Notice of the Sale of Paper Note AND most important to abide to the local jurisdiction real property- laws set by State and County and which govern the most important document in case a foreclosure presents itself—-THE PAPER DEED OF TRUST. If these steps are not carried out prior to selling the DEBT to Wall Street–then it follows the POWER OF SALE IS OUT OF REACH. Once all the paper is properly negotiated and endorsed all the way up to certificate holders/investors of shares/bonds, then and only after the paper docs properly processed can the final seller strip the intangible obligation aka the debt from the paper note and create a digitized authenticated record and shoot to the Intangible World Administrator MERS – Mortgage Electronic Registration Systems – computerized data base which keeps track as to which certificate holders are receiving the intangible obligation payment streams from homeowner. Now let’s look at what happened and the securities fraud on securities market and involving the homeowner unwillingly and unknowingly. Borrower signs the note and deed of trust and other documents- An enforceable loan package. Originator states, ” Let take short cuts to get our $$$$. Let’s disregard the Local Jurisdiction Real Properly laws which required us to properly process the paper note and paper deed of trust. These people will never figure out what we were suppose to do and did not do. Let’s skip processing and properly negotiating & endorsing the paper note and let’s immediately strip the intangible obligation from the paper note and let’s send over to Wall Street to use intangible obligation aka debt aka promise to pay aka personal property with Illegal Electronic Copy of Paper Note and Illegal Copy of Paper Deed of Trust and use the intangible obligation as collateral for OUR private contract with certificate holders aka investors! What a hoot! Let’s then tell the investors aka the certificate holders that we did carry out the required steps and laws to properly process the paper deed of trust and paper note…yes, let’s lie to certificate holders….as we need that money now….If the homeowner defaults, we will make homeowner continue to believe that it is all the homeowner’s fault and we will then file fraudulent foreclosing documents to cover our crime of securities fraud on securities market. Why don’t we do this….let’s take some of the money given to us by the certificate holders and by insurance policies! What a great and brilliant idea! We know the economy will fail as we pulled the bath tub plug….and when the homeowner defaults – kaboom….we collect on the insurance policy at the 60 day default mark and we can also submit a false claim to the US Government for Mortgage Default Insurance as stipulated by Housing Act of 1933 and all its amendments which allows to clean up hear too! I know – to collect Mortgage Default Insurance from US Government NO FRAUD CAN BE INVOLVED with defaulted loan…but you know, everyone is asleep so what the heck….let’s take money from whoever is asleep!” Look at 15 USC 7003 – it is illegal to make copies of written paper negotiable instruments. But they did it any way. Also, the person who decided to strip the intangible obligation from the paper note upfront, it is he/she who is the undisclosed Account Debtor who used the homeowner’s intangible obligation aka debt as collateral for the Undisclosed Account Debtor’s private contract with Certificate Holders/Investors. The crooked Loan Servicers should be chasing after the The Undisclosed account debtor and not the homeowner. The homeowner stopped paying once the homeowner knew his home was involved with a felony crime and the homeowner’s contract was breached and the intangible obligation is unsecured as the felons chose to NOT properly complete the processing of paper deed of trust and paper note. The debt is now unsecured and separated from paper deed of trust Carpentar VS. Longhan states if debt separated from paper deed of trust – contract is null and void. Also, when undisclosed account debtor decided to strip the intangible obligation upfront prior to properly processing paper note and paper deed of trust, he/she left the paper note DEVALUED of any value and no longer negotiable per UCC3203 Subsection (d) Article 3 or your states equivalent. The felons action of filing the fraudulent foreclosure documents to take home is smoke screen—you cannot re-attach and unsecured debt back to a DEVALUED note per UCC 3203 Subsection (d) Article 3 or your states equivalent. Also, Re- 15 USC 7003 which is clear in stating – anyone who violates this Federal Statute has committed a felony and NO LAW cannot be applied to the unlawful instrument. On the our lemon website – look at Florida Supreme Court Case whereby bank people admit to unlawful activities.also look at videos….re-wind 100 times till you understand. Also read 100 time Pig In A :Poke.

  40. patrick says:

    Hey Valerie Lopez. The links you posted above are broken

  41. Joan Dorland says:

    Looks like my phone hacked, I will go to BBB.I went to my bank in June of 2012, I was told I eas not on the mortgage wirh my husband and now we are in divorce proceedings and the lawyers tell judge I am. How does this happen?

  42. diana says:

    If someone could please help me with my home. I had to do a chapter 13 and I never wanted to lose my home, but was involved with a preditory loan through a so called “friend” I am now fighting with the attorney who keeps telling me this is a losing battle because the house is so much underwater and that I now owe $300K due to the past five years of interest only and stand a chance in losing my house and having to do a chapter 7. The new bank never showed in court, and for months didn’t know who I was, and I would like to challenge them to show the mortgage paperwork to see in fact if they do own my mortgage. They have never sent me a statement for payments or coupons to send, so I have not paid my mortgage for the past 22 months. THere was another bank involved before them. I have tried to do a remod, but because I am a business owner here in Michigan, I can’t support income for this to happen. The interest rate again is interest only, and I really don’t know what to do. My family tells me to walk away, but then I have no credit and no where to go.

    Please advise.

  43. don says:

    How about this. It’s a little off track, but maybe some one in the know can give a short answer. Can a former hard money lending company still try to collect if they are no longer in business?

  44. I paid my house off to bank of New York hmm I wonder if I paid them to much they try to foreclose on me 2 times

  45. Anthony Stevens says:

    If anyone was in a MERS Transaction – mortgage electronic registry system, they are in luck. The mortgage company will not be a be to validate the loan, which means you can either negotiate the loan down to 1/2 price or maybe even take it by quiet title.

    • steve leask says:

      I’m in Michigan does it apply here

    • Chunchuna1 says:

      How so, Anthony???
      I have been asking my attorney about this and he tells me no judge will go for a “Quiet Title” defense nowadays… Our mortgage had been transferred and sold over 6 times in the last 5 years to all Goldman Saks & Willbur Ross related investors who I am sure all cashed in on the Bailout… The first transfer was illegal and a fraudulent AMO was filed by an “Attorney in Fact” and a “Notary” that were both published names of “robo-signers”… 2 other transfers have no recorded AMO’s and now a new services is asking us for insurance and tax information… Yeah! Right! like I am going to give you info you should have in your records if you truly bought our loan!!!
      We want to move on with our lives and out of Florida but are prisoners of our own house as we don’t know where to start and how or with whom to settle…
      MERS still has services from 2 or 3 sales ago…
      Lost in the Tropics!!!

  46. Cox Lujon says:

    SELECT PORTFOLIO SERVICING INC, scammed 7 years of mortgage payments out of me on property I inherited . I paid from 2000, unti , 2011 , ,before discovering the note had been paid by the lender in 2006 . After many attempts on their parts to get me to keep paying them , they paid the loan off again in 2012. They have told multiple lies about this loan ,in effort to not pay me almost 40,000.00 dollars back . I need help ..but on a contingency basic .

  47. Cox Lujon says:

    Is there any public records of lenders having mortgage insurance on a homeowners ?

  48. Valerie Lopez says:

    The website for resources which explain the unsecured debt involved with securities fraud is correct -www.ourlemon.com and CJ Holmes Web Site http://www.hofj.org.

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