Posted on 02/19/2009 3:05:01 PM PST by Notary Sojac
Interesting tactic, but don’t forget that she owes the money!
I see. You owe nothing, because a lawyer said so.......
sounds like theft
It is just a delay in proving who owes on the property, not who OWNs it. The liens filed in court will show someone other than the tenant owns it. It may not be the one with the current debt load, but the homeowner still can’t clear it. Eventually the paperwork will be tracked down or deposed legally. Forestalling like this only lengthens the end. Were all this happening under a different administration I’d say it was immoral. However, given the absolutely unfair and unethical legistlations these baboons have just enacted, MORE POWER TO THE TACTIC!
She’s a thief.
The legal point is that it is no longer clear to whom the homeowner owes the money. If the note was assigned to someone else, and the debtor pays the original creditor, she could get sued again by the assignee. So a good lawyer for the debtor will make sure that the creditor who is suing is still the owner of the note.
If you want to confiscate a secured property, you have to prove you are entitled to it. That's what being a nation of laws is about.
It’s theft.
It is theft of compensation for use; in the end, ownership (unless Zer0 outright seizes it and gives away) will be assigned to the rightful owner.
Of course, there would have been no story here if the original issuer of the note had held onto it for a few years. Like they used to. In America.
It’s true. I spoke to quickly. It’s not theft necessarily.
It’s certainly attempted theft.
This will result in higher costs to the lender which will be passed on to other consumers and reduced investor profits. The bank needs the proper paperwork but if the occupant (not owner) doesn’t live up to the terms of the contract they have to give up the banks property. These folks are advocating theft, pure and simple.
Since when do they get to take legal action without producing paperwork?
This is exactly what every last person who has this situation should do. If these guys are throwing around funny-financial instruments without taking care of their paperwork, then they deserve to either lose the case or have it thrown out or delayed for as long as possible.
I know when I had to deal with this kind of paperwork in court (for apartments, in my case), that if I didn’t have all my paperwork in order, I would lose. I didn’t ever lose, because I did make sure it was in order. That’s the responsibility of those guys who are carrying the mortgage. If they don’t have it in order — they should lose the case. It’s that simple.
Right there with ya on that....
EXCELLENT.
A simple request shows up how the whole damn con scam game worked.
If you can’t show mortgage ownership, how can you foreclose.
More power to them.
**** the Bankers!
Succinct and on point.
I think the record of her payment of the loan for who knows how long ought to be sufficient proof. Perhaps they could use discovery to obtain a copy of the note from her, or use interrogatories to investigate just why she made payments on a note she now denies (by force of logic) having signed.
It’s attempted theft, hiding behind the technicalities of the law.
That is not liberty and it will make slaves of the rest of us. Terrible.
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