Skip to comments.Mortgage registrar cannot transfer mortgages-court
Posted on 02/14/2011 4:47:02 PM PST by Kartographer
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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?
org.whodat certainly seems to fall into the category of those who claim that there are no problems whatsoever with mortgage document processing with any bank.
Yeah... Kart’s been called everything but a pastrami sandwich over this issue. I’ve witnessed other Freepers calling him a Socialist, accusing him of thinking that everyone should get a free house, and telling him to leave FR.
“bankster” - contraction of “banker” and “gangster” - of which there are many out there.
...because of the bankruptcy.
If he hadn't gone bankrupt, he would still owe the money... it would just be unsecured debt rather than a mortgage secured by the property.
The term ‘banksters’ is in common use at any number of sites such as Minyanville.com, BusinessInsider, Martket-Ticker. What term would you use for people who are committing fraud, perjury and forgery on a scale that would have you or I up on racketeering charges?
"Criminal" works for me.
I prefer Crocodile Gangland to Dancing With the Stars.
I’ve seen the posts, read, and endured a minute portion of the name calling, and it’s been quite more than just a few. Rather than the rule of law prevail, there are some who’ve been so adamant that “deadbeats not get a free house” that the magnitude of the damage done to property law escapes them. Some have chosen to remain ignorant of the grievances even when case incidents, law citations, and court rulings have been presented.
To me - I’d rather see every home be given free and clear and the TBTF banksters insolvent than to see the federal government “have” to step in and over ride states’ laws or make law to cover the crimes in an effort to “straighten the mess out” caused by greedy banksters, because when/if ever they do, States’ will have forever lost their basic property rights.
The federal government is too big already and is failing. With entitlements and interest on current debt choking taxpayers to death while businesses move jobs out of the US because taxes are too high, if America’s “elite” leaders aren’t careful, this financial and economic crisis and then the destruction of law to coddle the elite could be a match in the tender box which finally sets the US on the same pathway of revolt as Tunisia, Egypt, and the other tilting dominoes.
Just say, “NO!”, to bankster amnesty.
Really? and what are the facts, according to you, that Kart has deviated from concerning those banksters?
I think this is going to spread
I was not addressing what he deviated from, I was discussing what he had deviated to.
I am not familar with HSBC. Gang, anyone?
Please look up the definition of 'mortgage'.
The friend in question went through a bankruptcy proceeding.
I wasn't questioning that. What I was referring to is that one doesn't repay a mortgage, one repays the note. The mortgage is filed to enable the lender to take action against the house in case of default.
"Paying the mortgage," while not technically precise, is a common colloquial usage for meeting one's financial obligation with regard to a housing purchase. Did you not understand what she meant?
I understood what was meant. My point is that there is so much confusion over these issues, we should be using the correct terms in order to reduce the amount of confusion. There have been MANY posts and MANY news articles that have added to the confusion by saying this and that when they should have been saying that and this.
HSBC has no original notes and the Courts down here (to their credit) are balking
We've also found that none of the mortgage modifications (the few that were done) were ever filed with the county clerk (for the lender to avoid paying the taxes and fees after adjusting the rate, term and amount) and the whole thing is just a mess
I really have no sympathy for these bankers
For the amounts the taxpayer ponied up for TARP they could have paid off every mortgage in the country and then some .... instead they gave our cash to banks who bought up these notes from distressed banks for pennies on the dollar and are trying to windfall through forclosure without the original notes
It's not pretty
Here's the link to the "new" and "improved" MERS look-up tool.
We've been ripped off and must demand immediate return of all stolen money and private property. Our entire economy is a fraudulent shell-game.
If your mortgage was fed into this system than legally speaking no (if this ruling holds).
You have been paying people who don’t have the right to be paid because they can’t claim the house. Therefore even if you pay them the full amount they can’t give the house to you because they never owned it.
IF, the people you originally got the mortgage kept i or transferred it but did so properly then after paying them all the money you get to own the house. You should check the records at your county to see if the people you are paying money to really own the house you are paying them for.
Oh gosh yes I’ve seen people say terrible things and see them arguing in favor of the banks even when an article clearly shows the fraud on the part of the banks. They simply see a couple of sentences from the article and without reading it in full start in. They continue even after you specifically point out the facts in the rest of the article.
I call them Bankster’s from time to time free speech and all that I think we can call them what we like. And speaking of Bankster’s look at JP Morgan/Chase apologizing for over charging our service members like they did.
JPMorgan Apologizes to Veterans for Overcharges
Don’t ping me to the half ass spin news sites, go read the real case, the mortgage was foreclosed on and the dead beats showed the street. The judge actually said the old rules apply and nothing beats the mortgage of record. Pay up get out, end of whining, there is not going to be any free mortgage giveaways.
Yep, you’re right ... the old rules apply, and nothing beats the mortgage of record; nobody argues that.
Except for many banks; they don’t believe that.
Fortunately I already own a clear title so all I have to do is pay my rent (property tax) to the county. I wonder though why some on FR have the attitude you mention as if there are only “deadbeats” who don’t want to pay and they shouldn’t wonder about what happens after thirty years of payments when the original papers cannot be produced when needed to clear their title.
The financial wizards who perpetrated the entire mortgage mess sure did, and profited greatly from it. What's good for the banksters is good for the rest of us.
The same "you are a deadbeat" crowd will then tell you how stupid you were for paying somebody who didn't really own the mortgage. It's just "whistling past the graveyard" behavior. Frankly, they can screw off.