Legally eliminate your mortgage in 60-75 days

[Dafinch]

Valid in every state except North Dakota, and cannot be done on loans originated by credit unions. You guys have probably seen some of the shit lenders have been pulling in recent years, most famously shown on a 60 minutes segment shown earlier this year:

http://www.cbsnews.com/video/ watch/?id=7361572n

Despite the bad pub garnered from that report back in April, they were still at it months later:


"Robo-Signing" Continues!

http://finance.yahoo.com/news/AP-Exclusive-Mortgage-apf-3239330433.html?x=0

Because of these and other tactics, it is possible to legally eliminate a mortgage. We are doing it with my sister's home (which has been in default for about 2.5 years) and on another one deeded to me by a moving serviceman. A description of the procedure can be heard on the following 10 minute taped call, and interactive phone calls are held 3 days a week at 9pm est, and questions are encouraged. 3 different payment plans are available, and I can provide recent successful examples of the procedure being done, i.e., mortgage reconveyances, if interested, just PM me. I know one of the co-owners, he's the brother of a former NBA player, and they have a perfect record thus far.

218-844-3182, press 930-113-93

 

[GasMan]

Or you could just pay your mortgage and stop being a re-nigging little bitch.

 

[Dafinch]

Some people are ok with lenders committing fraud thousands of times per hour, as the 60 Minutes report showed, and committing thousands of other RESPA violations, and some people are NOT ok with that. There are hundreds of other things done that an enlightened fellow like you wouldn't be aware of. YOU are ok with fraud and paying on upside down loan that should never have been made, Pal, you go right ahead.

 

[gmenknicks]

Or you could just pay your mortgage and stop being a re-nigging little bitch.

QUOTE OF THE CENTURY!!!!!

Thank you....

personal responsibility doesnt exist anymore....its always someone else fault...

 

[Dafinch]

QUOTE OF THE CENTURY!!!!!

Thank you....

personal responsibility doesnt exist anymore....its always someone else fault...

I'm curious: does that responsibility extend to the lenders? Are you ok with them committing fraud thousands of times an hour, not having the original note on the home(which is an annoying little requirement for foreclosing on somebody), getting paid by mortgage insurers in 90 days, selling the note at about 30% of face value to foreign investors, then trying to foreclose for the full value of the home when they have no right to do so? Any reaction to the fact that Attorney Generals for all 50 states are investigating the lenders for fraud, and that Bank of America offered fifty billion dollars as a payoff, with the condition that they not be liable for anything uncovered by the Feds from here on? The crux of the procedure is that the lenders are asked questions 7 times, by an officer of the court, through registered mail, to respond to questions about the loans they've written, and 28 out of 28 times they've refused to respond. Any reaction at all? Anybody home? Responsibility is a two way street, Jack.

 

[gmenknicks]

I'm curious: does that responsibility extend to the lenders? Are you ok with them committing fraud thousands of times an hour, not having the original note on the home(which is an annoying little requirement for foreclosing on somebody), getting paid by mortgage insurers in 90 days, selling the note at about 30% of face value to foreign investors, then trying to foreclose for the full value of the home when they have no right to do so? Any reaction to the fact that Attorney Generals for all 50 states are investigating the lenders for fraud, and that Bank of America offered fifty billion dollars as a payoff, with the condition that they not be liable for anything uncovered by the Feds from here on? The crux of the procedure is that the lenders are asked questions 7 times, by an officer of the court, through registered mail, to respond to questions about the loans they've written, and 28 out of 28 times they've refused to respond. Any reaction at all? Anybody home? Responsibility is a two way street, Jack.

unless someone took your application/loan docs and purposely altered then withour your knowledge, then you are at fault for any transaction that occured... i do not give a pass to banks or originators for some shady practices but ultimately YOU and YOU alone sign the docs and its your job to be aware of what you are getting into...i dont feel bad for the woman with 4 kids who worked at the local grocery store who was supposedly "duped" by the bank into buying a 5/4 400K home...sorry i dont buy it...anyone at anytime could have gotten a lawyer to explain the loan docs to them if they didnt understand...

 

[gmenknicks]

and while you are right in attacking the foreclosure process itself (its defiinitely rife with fraud)please consider why the house is being foreclosed on in the 1st place..in many cases its because someone bought a house they should never even have been able to rent let alone buy...and why did they buy??? many times greed is the answer..and please dont tell about the good hard working people being kicked out of the homes...good people make BIG mistakes too and should also be accoutable..

again unless your documents were tampered with its time to own up

 

[Dafinch]

unless someone took your application/loan docs and purposely altered then withour your knowledge, then you are at fault for any transaction that occured... i do not give a pass to banks or originators for some shady practices but ultimately YOU and YOU alone sign the docs and its your job to be aware of what you are getting into...i dont feel bad for the woman with 4 kids who worked at the local grocery store who was supposedly "duped" by the bank into buying a 5/4 400K home...sorry i dont buy it...anyone at anytime could have gotten a lawyer to explain the loan docs to them if they didnt understand...

It's pretty clear that you neither saw the CBS link that I provided, nor bothered to read what I said-"unless someone took your application/loan docs and purposely altered then withour your knowledge," what do you think I was referring to when I mentioned fraud committed thousands of times per hour??????????? As far as shady tactics pulled BY a "mother of 4," I'm getting the impression you don't know what RESPA violations are, and how many banks are guilty of them, so, that being the case, it's difficult to have an intelligent conversation with you. If nothing else, read the link and/or watch the 60 Minutes show, then you wouldn't ask about "tampering." Last but not least, you ignored the important fact that you can't foreclose if you don't have the original note, which is one of the reasons 50 AGs are knocking at the banks door. Even if the loan origination and servicing was as clean as a hound's tooth-the odds of which are less than 1 in 100-if you securitized the note, which almost all of those greedy scumbags did, then you undid all the right things that proceeded it. You don't have to like or agree with a law in order to understand why it needs to be obeyed.

 

[tiznow]

Both sides are to blame ... But IMO moreso on the lenders end .... Was soooooooooo much shady shit going on those days .... And you dealing with people that alot of times have zero financial sense ....

Banks just know they will bailed out so let the good times roll ... Who gives a damn about risk and nonsense like that the government and fed will bail us out .... End the fed

 

[gmenknicks]

Dafinch you are right. I didn't watch the vid or read your entire post properly and I will do both before I respond again. But just so I am clear on your perspective if the bank can't produce the note do you feel that the borrower should be off the hook regardless of the circumstance?

 

[Dafinch]

Dafinch you are right. I didn't watch the vid or read your entire post properly and I will do both before I respond again. But just so I am clear on your perspective if the bank can't produce the note do you feel that the borrower should be off the hook regardless of the circumstance?

I wouldn't say "regardless of the circumstances," but, if you don't need to have the note, hell, I could foreclose on your home, in theory. One of the outfits involved with this is at www.auditpros.net. About 1/2 way down you'll see a kind of rolling 30 day calendar called UPI Updates Last 30 Days. There you'll see crap they've been pulling almost every day of the month. I grew up in NYC, and I know about loan sharks and usury laws. If you charge somebody 30% interest in a lotta states, you could go to jail. A friend of mine was paying his credit cards perfectly, but tried to get a loan mod and they wouldn't do it, and he got behind. Credit card guys jacked his credit card interest from 6% to 32%, despite the timely payments. Now, the fine print allowed them to do that, but you and I can't charge 32%, how come THEY can? If the law is on my side, as it is in this case, I'll sleep like a baby when we get the mortgages re-conveyed. My sister is a senior citizen and had her United Airlines pension slashed from $1300 to $350(remember, they almost went belly up). Before she was day one late with her mortgage, she went to B of A and said, can you modify the loan or do a forbearance? They said, we don't want to talk to you, you're current. Mark Twain said a banker is a fella who loans you an umbrella, and then wants it back when it starts to rain-and he lived, what, 150 years ago? If you are interested in at least hearing the procedure I'm talking about, you can listen to a 10 minute taped call at 218-844-3182, then press 930-113-93, and, like I said, they hold interactive calls where they encourage people to grill them with questions 3 times a week.

 

[gmenknicks]

This is a VERY complicated subject with many layers to it. But I still belieeve in looking at the chain of events leading up to a foreclosure and who was responsible for what...Before I do though, let me say the Banks, Mortgage Lenders, RE Agents, Originators, etc acted in the most despicable manner possible. The greed and shady practices were absolutely horrific and I feel like I need a shower whenever I think about it.

1. Selection of a Property:ME/RE Agent
2. Mortgage App/ Appraisal: ME/Mortgage Co, Bank, or however you got your loan/Appraisal Co
3. Contract/Close/Funding: ME/My Attorney/RE Agent/Bank/Mortgage Co
4.Occupancy: ME
5. Refinance: If applicable: ME/Bank/Mortgage Co
4.Default at some point: ME
5. Attempt at a workout/modification: ME and whoever has my loan at this point
6. Foreclosure action: ME/Bank/Attorney
7. Bank Possession if ruled by Judge: ME/Attorney for all parties/Judge

The first 4 steps is where I think people had the duty and obligation to be aware of what they were getting into. When people go to a used car lot they come ready to negotiate with kelly blue book and all the facts ready to go. they arent going to be "hustled" and they are going to read all the fine print, ask a thousand questions, call for the manager, walk out, and do every other thing possible to get the best deal for themselves...So I ask at the loan application stage, WHAT THE FUCK HAPPENED???? How were people able to quailfy for homes they KNEW they couldnt afford??? I see this part as the crux of the whole issue...Why did they get "huslted" at this point?? Thats where I say if someone altered documents after the fact then they need to be held accountable. But if I signed a mortgage app that I PURPOSELY lied on, then how is anything that happens after that anyones fault but my own???

I could keep going with this but my eyes are starting to hurt. Banks are greedy. We know that. They also answer to shareholders and I know I dont want my financial stocks tanking.

 

[gmenknicks]

i appreciate the good folks who really didnt get in over ther heads and need help.. i wish that more could be done for them. i really do. we live in a very money hungry, greedy society and compassion is rare in the corporate world.

but under no scenario should the abusers who lied on the applications, bought way too much house expecting huge porifts, be let off the hook bc of technicalities. I know not having the note is not a minor thing but i feel these people should not be let off the hook for any reason. personal accountability

 

[Dafinch]

This is a VERY complicated subject with many layers to it. But I still belieeve in looking at the chain of events leading up to a foreclosure and who was responsible for what...Before I do though, let me say the Banks, Mortgage Lenders, RE Agents, Originators, etc acted in the most despicable manner possible. The greed and shady practices were absolutely horrific and I feel like I need a shower whenever I think about it.

1. Selection of a Property:ME/RE Agent
2. Mortgage App/ Appraisal: ME/Mortgage Co, Bank, or however you got your loan/Appraisal Co
3. Contract/Close/Funding: ME/My Attorney/RE Agent/Bank/Mortgage Co
4.Occupancy: ME
5. Refinance: If applicable: ME/Bank/Mortgage Co
4.Default at some point: ME
5. Attempt at a workout/modification: ME and whoever has my loan at this point
6. Foreclosure action: ME/Bank/Attorney
7. Bank Possession if ruled by Judge: ME/Attorney for all parties/Judge

The first 4 steps is where I think people had the duty and obligation to be aware of what they were getting into. When people go to a used car lot they come ready to negotiate with kelly blue book and all the facts ready to go. they arent going to be "hustled" and they are going to read all the fine print, ask a thousand questions, call for the manager, walk out, and do every other thing possible to get the best deal for themselves...So I ask at the loan application stage, WHAT THE FUCK HAPPENED???? How were people able to quailfy for homes they KNEW they couldnt afford??? I see this part as the crux of the whole issue...Why did they get "huslted" at this point?? Thats where I say if someone altered documents after the fact then they need to be held accountable. But if I signed a mortgage app that I PURPOSELY lied on, then how is anything that happens after that anyones fault but my own???

I could keep going with this but my eyes are starting to hurt. Banks are greedy. We know that. They also answer to shareholders and I know I dont want my financial stocks tanking.

What's the deal with the RX website, several times since last weekend, I simply couldn't get into the website, and one of them was late last night, not exactly prime traffic time. Anyway, I understand what you're saying, and even given that the Golden Rule applied a lot (the man with the Gold, makes the Rules), if Mr. Banker says Joe Blow can afford a house with payments of X, Joe, who already may be chasing the American dream, can pretty easily have his judgment knocked askew. But I must admit, the first time I saw one of those Option 4 mortgages, and saw that one option was paying LESS than interest only, I said, WTF?!?!?! You're supposed to be getting equity, not going deeper into the hole each month, and I'm not for a moment saying homeowners aren't somewhat at fault. But, in my eyes, the banks are the 49ers and the public is Denver in that 55-10 Superbowl: THEY engaged what in courts would call entrapment, THEY got bailed out with our money, plus got paid by insurance companies in the bargain, THEY packaged and sold off the notes to foreign investors, which they shouldn't have done and weren't allowed to do, and now are trying to get paid, potentially for the third time on the same house, and kicking people to the curb in the process. Sorry, to me, it's not even a close call. And if there is an economical and legal method to get a loan out of my name, off my record, and not fuck up my credit for the next decade, Brother, I'm there with bells on. Avoiding the expense of going to court (and not being at the mercy of crooked ass judges) is a nice bonus. The method gives banks 7 opportunities to speak up and prove the homeowner is a "re-nigging(sic) little bitch" and the whole crux of the procedure is, silence is acquiescence. So, if they wanna keep their lips buttoned when they could, if they chose to, "clear" themselves, then let 'em reap the whirlwind. And, btw, in your "whose fault is it by my own" deal, let's say I bought a FSBO (For Sale By Owner) house from somebody, and he showed me an inflated appraisal (that I later found was prepared by his cousin), told me the house was tip top when in fact had lots of problems, forged his wife's signature because she didn't wanna be a part of it and was out of down, and he carried a balloon that was made up primarily of the inflated price, when I found all this out, would I feel like a schmuck for not using an agent or doing my due diligence? You bet your ass I would. Would I feel obliged to pay off that balloon to him? You bet your ass I wouldn't.

 

[LineTamer+]

wow..just wow.

Just some general thoughts, and not directed at anyone

never sign anything you dont fully understand, actions have consequences, take responsibility, lose sense of entitlement, dont pass the blame or buck.

I sold my used GTX gold clubs on craigslist for $75 (no bag, 3 iron or putter). Bought them brand new 10 years ago as a full set with bag for $150. Who is at fault?

 

[LineTamer+]

one more...you can make anything sound good or justified if you try hard enough.

 

[tiznow]

Line tamer the problem is in the real world you are going to always have poor low income people with low intelligence and zero financial sense (it's getting worse as the big corporations rig the game in their favor even more)

The natural check and balance is that lender taking into account the risk of the situation .... Not looking to make a quick buck and has to worry about repurcussions if that loan goes bad ..... as well as having some type of soul in that they see their profession as a service etc... Now that everything is mega bank/lender that soul has been lost .... The bigger a corporation grows the less of a soul it has....

Can't imagine how many Hispanic people that couldn't speak a lick of English and have no education whatsoever were put into homes they couldn't afford ..... That the lenders knew exactly that when they told them it was cool ....

 

[LineTamer+]

"Can't imagine how many Hispanic people that couldn't speak a lick of English and have no education whatsoever were put into homes they couldn't afford ..... That the lenders knew exactly that when they told them it was cool .... "

Like I said, dont sign anything you do not fully understand. I would never sign anything that was explained to me in a foreign language. Thats even more common sense than understanding the language but not comprehending anything.

 

[LineTamer+]

Also, a lender telling someone they can afford a house payment when looked at in that vacuum was probably very accurate in the vast majority of cases.

When running a personal balance sheet one may be able to afford a $2000/ mtg payment, assuming they want to be house poor and not follow the house purchase up with a new car, new appliances, throwing on a nwe garage and anything else one can throw money at. People went from paying a $1000 mtg to $2000 and forgot to cut spending or live within their means

I know I can 'afford' a much higher mtg pmt than I am making now, BUT, I dont want to be house poor and didnt want to cut back on my other spending habits.

 

[tiznow]

Obviously in many cases those borrowing are to blame to some extent .... Just my feeling that overall the lenders know exactly what they are doing understand the terms and many times lended out to people to meet quotas or what not even though they knew deep down this person had little chance of paying it off ...