STOPPING FORECLOSURES - SAY "NO" TO LOAN MODIFICATIONS & "YES" TO VERIFICATION
By Darren Michaels, Private Attorney General
www.homesteadservicesflorida.com
One thing that a homeowner can use as evidence against the alleged lender to possibly stall a foreclosure action is with a a "verification of debt" in demanding for their "alleged" lender to produce the original mortgage documents and note. During the real estate boom, many mortgages were sold and resold, bundled into securities and peddled to investors - often leaving the original note signed by the homeowner lost, stored in a distant warehouse or even destroyed. It is known as "Proof of claim" a.k.a. evidence.
If your lender cannot produce "proof of claim" then they do not have any legal standing or jurisdiction to foreclose or to even collect a mortgage payment.
three basic steps that have been utilized:
1. Temporary Restraining order - stops the foreclosure
2. Petition for Discovery (proof of claim) and if not produce
3. Counter-claim for fraud, civil RICO, deceptive business practices, fraudulent presentments, counterfeit security fraud, mail fraud, etc.
Please note:
But dont use this as your only bullet in your defensive gun - remember EQUITY LAW COMPELS PERFORMANCE OR TO PERFORM TO THE EXACT LETTER OF THE CONTRACT Even if you are not delinquent or not in a foreclosure status, you can still use a "verification of debt" against your lender to validate if they still possess the actual note. Most lenders do not! and do not answer the "verification of debt" or what them by default or what is known as estoppel by acquiescence which means "I say nothing" - the U.S. Supreme Court has ruled in many cases that Silence can only be equivalent to fraud ! See: Morrison v. Coddington, 662 P. 2d. 155, 135 Ariz. 480(1983). “Fraud and deceit may arise from silence where there is a duty to speak the truth, as well as from speaking an untruth.”
All parties may be liable under Alter Ego Liability – a judicial doctrine applied to corporations where a court may hold the individual shareholders liable where the business entity is merely the "Alter Ego" of its shareholders, a member of a corporation or LLC may also be held liable for the corporation / LLCs debts and liabilities.
Problems with a Loan Modification:
10 POINTS TO CONSIDER
1. The borrowers will think they are modifying their current loan when in fact they are starting all over again.
2. The Foreclosing entity which lacks standing to bring lawsuit, is not authorized to modify anything since they are not the owner of the loan in question.
3. Since the real parties in interest are no where to be found, they are taking it upon themselves with the help of theirl awyers to steal your property.
4. The borrower is actually getting a new loan which may enjoin borrower from rescinding new transaction.
5. The foreclosing entity is STILL not using their own fundsto modify (new loan) loan. They are getting funds to lend borrowers through Federal bail outs, insurance proceeds and believe it or not Investors. [same process]
6. Their lawyers are not acting in a lawyer’s capacity but asBROKERS; [middlemen] they are getting paid commission on every new loan they help brokered.
7. What Does Loan Modification Mean?A modification to an existing loan made by a lender in response to aborrower’s long-term inability to repay the loan. Loan modifications typically involve a reduction in the interest rate on the loan, an extension of the length of the term of the loan, a different type of loan or any combination of the three. A lender might be open to modifying a loan because the cost of doing so is less than the cost of default.
8. Why would they need to re-qualify if they claim they would make the borrowers payments and rates to be less?
9. The borrower took the loan out with lender “A” but an unknown lender “B” is trying to modify it.
10. When the modification is said and done, the borrower will have lender “B” as the lender. What happened to lender “A”???
Anyone need our assistance, you may contact us at:
www.homesteadservicesflorida.com
(941)822-4663
Darren-James: Michaels
Private Attorney General – 42 USC 1988
Qualified Criminal Investigator – 18 USC 1510
Federal Witness – 18 USC 1512,13, 1964(a)(b)(c)(d)
Ordained Minister/Ambassador - Protected Foreign official -18 USC 11, 112
Absolute Immunity as a Corporation 28 USC 1608
FSIA(1976,1997), Secured Foreign Party - 28 USC 1602-1611
Florida Notary – F.S. 117
Florida Insurance Broker: licenses – 215,216,218,240,266
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