To: org.whodat
Does not state at all that they can sell the loan.
Merely mentions that all power is inherited by anyone they transfer the loan to. In my understanding it gives collection agencies the power to act on behalf of the original loan company.
6 posted on
02/14/2008 7:59:32 AM PST by
Bear_Slayer
(When liberty is outlawed only outlaws will have liberty.)
To: Bear_Slayer
Does not state at all that they can sell the loan. It doesn't have to, that is a standard right of property. The only requirement would be the opposite statement, something in the contract preventing the owner of the loan from disposing it. IE, they have the right to sell unless the contract says otherwise.
17 posted on
02/14/2008 8:07:01 AM PST by
mnehring
(Make your plans to fit the circumstances. - General George S. Patton, Jr)
To: Bear_Slayer
I was letting you have a way out, all loans are assignable and it says so somewhere in the papers.
24 posted on
02/14/2008 8:13:43 AM PST by
org.whodat
(What's the difference between a Democrat and a republican????)
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson