Real Estate Lender Implosion

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60 Minutes - The Next Housing Shock [mirror]

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CBS News—April 3, 2011—As more and more Americans face mortgage foreclosure, banks' crucial ownership documents for the properties are often unclear and are sometimes even bogus, a condition that's…
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Added on 4/05/11
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Tony


Send a registered letter to the mortgage company or bank or whoever is threatening foreclosure demanding
1) proof of claim.......ie: original blue ink signed mortgage agreement and the promissory note.
2) proof of loss........ie: since it was the promissory note that was first deposited into the banks ledger, and then they issued you a cheque from that deposit, where is their proof of loss?
3) equal consideration....ie: what in fact did they put up in the transaction???
4) full disclosure...ie: did they disclose at the time that it was your promissory note that created the funds...
Give them 10 days to respond....they will not. Then do a LETTER OF NON RESPONSE....stating that they did not response and have it witnessed by a commissioner of the courts or a notary if you can find one. Keep the LONR in your files.
Eventually they will send it to a third party ( law firm) and they will try to shake you down..Read Frank O'Collins work called HOW TO SUCCEED IN COURT..It was recently posted to the site by Glenn....
Stand your ground as the banking system is all fraud and extortion and theft. Watch MONEY AS DEBT and google MODERN MONEY MECHANICS. A book I highly recommend is THE CREATURE FROM JEKYL ISLAND by Edward Griffin...explains the fraud.
Your friend must start this action immediately before they squeeze him out of his property. As I am not a lawyer ( liar ) this info can not be considered legal advise...however, lawyers do not have a monopoly on words and the above can be considered words.
hope this is of some help
Brian in ns




On Sun, Apr 10, 2011 at 7:32 PM, xxx.com> wrote:

Hi Brian,

Thanks!

Say, I have a question for you (and the group). I have a friend who
is involved in a foreclosure situation in Minnesota. Regarding law,
he knows nothing. All of this stuff would be completely new to him.
Is there a rather simple boiler plate procedure a person like him can
implement or (in your opinion) is what ought be done too challenging
for a complete novice?

Also, if the mortgage was through a mortgage company, that means the
mortgage company serves as an intermediary with a bank, right? And he
would of course have to identify (and communicate with) the bank,
correct?


Tony