Skip to comments.Mortgage registrar cannot transfer mortgages-court
Posted on 02/14/2011 4:47:02 PM PST by Kartographer
click here to read article
I had the luxury of choosing my mortgage company and I went with a local savings bank that holds all their mortgages just because of your type of problem. Of course, my credit rating was 800+ so I wasn’t looking to go through a national mortgage company either.
You might look into what is called a Quiet Title action. It should cost a few hours of lawyer time, and will resolve the title issues regarding your home. You'll still have the mortgage debt, but at least the property will have an unencumbered title.
BTW The “you are a deadbeat” crowd here on FR needs to understand the differences between moral and legal behavior.
They understand it. What they want is that no matter their legal rights they want moral behavior from the ‘deadbeats’ and neither moral nor legal behavior from the ‘banksters’.
“This court finds that MERS’s theory that it can act as a ‘common agent’ for undisclosed principals is not support(ed) by the law.” He said that in future cases involving MERS, parties seeking in bankruptcy proceedings to avoid the ban on legal claims must show they own both the note and the mortgage.”
The big banks have to follow the same laws the rest of us peons do? What’s the world coming to?
I’m confused. How is it that when I pay off my mortgage, I won’t own my home? What am I missing here?
Say that to one's face in their Courtroom. I dare you.
Because the institution you paid may or may not actually own the 'note' on your home. In fact they may not even know where your original Title Deed is at all. So you could pay your mortage off and then your mortgage company can't give you a clear, unencumbered Title Deed.
Without that you can't sell it. Ever. And if you can't sell it, you don't really own it.
Would not be so quick to say that.
Bankruptcy Judges are defered to by Federal Judges who do not want this stuff clogging their dockets.
The fact is that this judge can now strip mers claims. this will be noticed by other judges across the nation.
Federal Bankruptcy Judges trump state court judges.
still does not prove who owns the note now. Chase could just be the servicing agent and not the final note owner.
here is a good example of a bank screw up.
A friend went bankrupt after losing his job and unable to find a new one that payed enough to survive on. His bank(chase) carried the mortgage on his house and he has been paying on it for about 5 years. Chase never recorded the deed , the Federal judge dropped the mortgage as a NON-secured dept. My friend does not have to pay the mortgage.
In several of these cases now, in three different states, judges have been abundantly clear at the outset of the case what the bankers need to do to prevail.
And the bankers’ lawyers just seem to ignore the instructions from the bench.
Which tells me that either a) the lawyers the bankers are retaining are utterly incompetent, or b) (since this has happened with multiple law firms, in multiple courts, in multiple states) the banks simply do not have the docs.
The single worst thing I fear the GOP doing now is carrying legislation to fix this for the bankers, rather than letting the rule of law prevail and force the bankers to face the music.
But I’m guessing the GOP will stupidly do the bankers’ bidding now. I’ll bet that even now, some clown from the banks’ lobby is passing around a proposal in legislative language on how to fix this for the banks, and the idiots in the GOP are going along with this crap, based simply on the notion that the GOP should be seen as “pro-business.” Even if the business is illegal, has been breaking the law and will be breaking the law at the state level if the bankers prevail.
Heck, the people/parties who buy houses AFTER a foreclosure are really not going to like this either.
And those are the people who are necessary to satisfy to get us out of the housing slump. Who wants to buy a property that was foreclosed if the foreclosure was enacted as a fraud upon the court, if the title is not quiet, etc?
“We agreed to stand down for sixty days to give the genuine agent (who has been nothing but helpful) an opportunity to settle it for themselves. But yes, that is the next step. A title action could take four to six months - so if they can sort it out amongst themselves that is fine with me given the retainers lawyers were demanding.’
Makes sense, but you’re right, this is a nightmare.
You have made at least two posts misrepresenting FR posters. I have NEVER seen a post that says what you say "many" FReepers post. Please stay with the truth.
Maybe I should have used ‘many’, but when one has been flamed and personally attacked over this issue as much as I have then it sure seems like ‘many’. There also the chance you have seen all the FR posting on this subject.
What say you gang? Chunga85; Lurker; FromLori; azhenfud; Wolfie; UCFRoadWarrior; servantoftheservant; blam; Oberon
Maybe if you didn't misrepresent others posts and didn't use words like 'bankster' and stuck with the facts you wouldn't be flamed?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.