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?
65 posted on
04/18/2011 5:59:03 PM PDT by
azhenfud
(The government is not best which secures life and property-there is a more valuable thing-manhood.)
To: azhenfud
Skipping out on taxes seemed like a cherry on top. lol We’re all supposed to be goose-stepping the dead-beat line. Fail.
80 posted on
04/18/2011 8:15:31 PM PDT by
Chunga85
("Foreclosure Fraud", TARP, "Mortgage Crisis", Bailout)
To: azhenfud
Popular delusions and the madness of synthetic securitization.
84 posted on
04/18/2011 8:58:20 PM PDT by
Leisler
(11% GDP of borrowing this year alone, gives 2% GDP boost! Woohoo!)
To: azhenfud
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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