To: org.whodat; Leisler
"A court will only remove the lien when they have proof the debt has been paid.
You're wrong. The court is saying the bifurcation of the note and mortgage rendered the note unsecured - like a jumbo (or should we say, jumbled) personal loan. The house doesn't secure the note any longer.
Whoever is entitled to payment (the one who legally holds the note) may sue the homeowner (if they can ever determine who that is) to satisfy the jumbo personal loan; their home is debt free, the homeowner may not be.
There is no judge nor court that can "fix" this problem to the bank's best interest. They skewered themselves over their own invented sword called "REMICS". Arrange the letters a little differently and you get "CRIMES". Ironic, isn't it?
posted on 04/18/2011 5:59:03 PM PDT
(The government is not best which secures life and property-there is a more valuable thing-manhood.)
Skipping out on taxes seemed like a cherry on top. lol We’re all supposed to be goose-stepping the dead-beat line. Fail.
posted on 04/18/2011 8:15:31 PM PDT
("Foreclosure Fraud", TARP, "Mortgage Crisis", Bailout)
Popular delusions and the madness of synthetic securitization.
posted on 04/18/2011 8:58:20 PM PDT
(11% GDP of borrowing this year alone, gives 2% GDP boost! Woohoo!)
Making up stuff does not make it true, the court will not remove a lien, they want the chain of title followed and that is all that happened here. The assigns of record in the court house can start the foreclosure all over immediately. You do not get a free house.
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