Don’t Admit the Default

Kudos again to Jim Macklin for sitting in for me last night. Excellent job — but don’t get too comfortable in my chair🙂. Lots of stuff in another mini-seminar packed into 28 minutes of talk.

A big point made by the attorney guest Charles Marshall, with which I obviously agree, is don’t admit the default in a foreclosure unless that is really what you mean to do. I have been saying for 8 years that lawyers and pro se litigants and Petitioners in bankruptcy proceedings have been cutting their own throats by stating outright or implying that the default exists. It probably doesn’t exist, even though it SEEMS like it MUST exist since the borrower stopped paying.

There is not a default just because a borrower stops paying. The default occurs when the CREDITOR DOESN’T GET PAID. Until the false game of “securitization started” there was no difference between the two — i.e., when the borrower stopped paying the creditor didn’t get paid. But that is not the case in 96% of all residential loan transactions between 2001 and the present. Today there are multiple ways for the creditor to get paid besides the servicer receiving the borrower’s payment. the Courts are applying yesterday’s law without realizing that today’s facts are different.

Whether the creditor got paid and is still being paid is a question of fact that must be determined in a hearing where evidence is presented. All indications from the Pooling and Servicing Agreements, Distribution Reports, existing lawsuits from investors, insurers, counterparties in other hedge contracts like credit default swaps — they all indicate that there were multiple channels for payment that had little if anything to do with an individual borrower making payments to the servicer. Most Trust beneficiaries get paid regardless of whether the borrower makes payment, under provisions of the PSA for servicer advances, Trustee advances or some combination of those two plus the other co-obligors mentioned above.

Why would you admit a default on the part of the creditor’s account when you don’t have access to the money trail to identify the creditor? Why would you implicitly admit that the creditor has even been identified? Why would you admit a payment was due under a note and mortgage (or deed of trust) that were void front the start?

The banks have done a good job of getting courts to infer that the payment was due, to infer that the creditor is identified, to infer that the payment to the creditor wasn’t received by the creditor, and to infer that the balance shown by the servicer and the history of the creditor’s account can be shown by reference only to the servicer’s account. But that isn’t true. So why would you admit to something that isn’t true and why would you admit to something you know nothing about.

You don’t know because only the closing agent, originator and all the other “securitization” parties have any idea about the trail of money — the real transactions — and how the money was handled. And they are all suing the broker dealers and each other stating that fraud was committed and mismanagement of the multiple channels of payments received for, or on behalf of the trust or trust beneficiaries.

In the end it is exactly that point that will reach critical mass in the courts, when judges realize that the creditor has no default in its business records because it got paid — and the foreclosure by intermediaries in the false securitization scheme is a sham.

In California the issue they discussed last night about choice of remedies is also what I have been discussing for the last 8 years, but I must admit they said it better than I ever did. Either go for the money or go for the property — you can’t do both. And if you  elected a remedy or assumed a risk, you can’t back out of it later — which is why the point was made last night that the borrower was a third party beneficiary of the transaction with investors which is why it is a single transaction — if there is no borrower, there wold be no investment. If there was no investment, there would have been no borrower. The transaction could not exist without both the investor and the borrower.

Bravo to Jim Macklin, Dan Edstrom and Charles Marshall, Esq. And remember don’t act on these insights without consulting with a licensed attorney who knows about this area of the law.

41 Responses

  1. When I was in alleged foreclosure I filed a motion firing the counsel three times, they responded with “this is an attempt to collect a debt” now I realize they were not Mortgagee or Creditors but DEBT COLLECTORS governed by FDCPA my perception and language was wrong.

  2. @ I WANTMYNPV ,

    Yes the dollar will be eclipsed … and it will be bad … there is nothing you or I can do about it .. it is what the .001%ers want and Obama and his Fed are giving it to them by crushing the dollars value and making it undesirable. England went through this when we supplanted the English pound in the 1940’s … Just last Friday Obama permanently put the new pipeline from Canada on hold making Russia MUCH stronger in the petroleum world … it was a triple play for Obama ,, it helped his crony Buffet and Burlington Northern ,, it hurt America and it directly helped Russia.

  3. Christine, I didn’t ask you a question….I said you were annoying. You still are.

  4. Ha, Ha, Ha…well I guess the Czar of foreclosure defense has put all of you in your place! LOL

    I still don’t see the breakdown of the “winning” defenses used by her yet. As for Neil having a knack to gather desperate people…Okay, then why is there multiple responses by a certain party? Why is it so important we read her rantings? By her own admission she’s been here quite some time…point made….Just saying. Therapy is in session

  5. Russia and China are on the cusp of a huge natural gas deal. The terms of the deal are to be expressed utilizing the Yuan for pricing. The Yuan and Euro are quickly catching the dollar in sovereign reserve coffers

    If you believe we are not moving toward a basket currency – you are sadly mistaken. Even the emerging third world shit-holes understand that the manipulated dollar is causing massive food and energy inflation in their own backyard.

    The war is being won without a single shot being fired. The USA cannot keep a lid on this without fire power, and the enemies of Washington policy know this. That is why they continue to tip-toe to the bank.

    When the reserve system banks have entirely shifted from dollar denominated assets – the US economy will spill out into the global abyss.

    We need to refocus and redevelop a domestic / internal economy. We buy what we manufacture! We must become energy independent now.

  6. “Fannie Mae (FNMA) and Freddie Mac, the U.S.-owned mortgage-finance companies, will raise the fees they charge lenders** to guarantee loans as part of an effort to shrink their presence in the mortgage market, the Federal Housing Finance Agency said.

    “For the first time, the companies also will start charging higher fees in New York, New Jersey, Connecticut and Florida, where long foreclosure timelines make it more expensive for Fannie Mae and Freddie Mac to dispose of properties they take over after borrowers default, the FHFA said yesterday. The agency is also shifting its fee structure so borrowers with poor credit will pay more.

    The fee increases, typically passed on to borrowers in the form of higher interest rates, will go into effect in March and April, the agency said in a statement. Fees will rise an average of 14 basis points on typical 30-year fixed-rate mortgages, the FHFA said.

    “Today’s price changes improve the relationship between g-fees and risk,” FHFA Acting Director Edward J. DeMarco said in a statement, referring to fees for the guarantees. “The new pricing continues the gradual progression toward more market-based prices, closer to the pricing one might expect to see if mortgage credit risk was borne solely by private capital.”**

    Fannie Mae and Freddie Mac (FMCC) purchase loans and package them into securities, guaranteeing payments of principal and interest. They currently back about 60 percent of U.S. home mortgages.”

    *the lender imo doesn’t pay the g-fee; the borrower does, as stated later in this article. The loans aren’t guaranteed for the benefit of the lenders, either, at least not lenders as we’ve historically known them.
    The g-fee is charged and paid by the borrower in his rate for the purpose of selling more MBS’s.

    **the assertion that the fee should be raised as a progression toward what private capital g-fees would be is probably a real progression toward that private capital since they are looking to 86 F & F. It’s easy to see that a guarantee would make MBS’s more marketable, but other than that, I still don’t see why a guarantee is necessary or even not at odds with a true sale. If F and F become toast and guarantees on MBS’s continue, my vote says we can look forward to higher and higher g-fee add-ons in our rates. I think this is all tweaked. F & F should reorganize, tighten their operating m.o., re-install quality control, and 86 securitization.
    Losing F & F will find loan rates less competitive or I’d be very surprised, regardless of some expected propaganda to the contrary.

  7. Charles,

    “Christine the case are all over that web site with doc numbers just look for yourself.”

    If you allege anything, you have the burden of proof. Just as much as Garfield. Or anyone else. Hopeless. Done wasting my time.

  8. E. ToLLe,

    “Christine, that’s a most annoying habit you have….posting excerpts from journalistic sources, then interlacing them with your own diatribe, without any notation of where the found source ends and your ramblings begin.”

    Clarification, since you’ve apparently missed it:

    Title of the article. Site where to read it for those who care to and know how to. Ranting.

    Any other question?

  9. Christine the case are all over that web site with doc numbers just look for yourself. Now if you cannot see the trend that on you and I am not trying to convince you of anything because your on the outside looking in without any solution but to quit.

    The point is to get someone of equal power to fight the fight and we don’t have to deal with the attorneys who are not equipped to handle what actual should be very simple and that is do you have a valid Title in order to foreclosed when you did. This is the direct question that Ginnie Mae just ask the bank about the loans in Ginnie Mae MBS.

    So Christine don’t you think that Ginnie Mae already knows the answer to the question they have presented?

    On Russia they are doing what the Europeans did to the Native American. We took every inch of land!

  10. Charles

    “christine I read several cases on Foreclosure Fraud where people have got their home back”

    Cite them. And cite the exact reasons wherefore. And break it down in statistical numbers, by year, jurisdiction, whether judicial or not, FC defense or BK, with or without appeal, represented or pro se, and whatever else is meaningful.

    Otherwise, it’s still fluff.

  11. E. ToLLe,

    Read, learn and then, open your mouth.

    All You Need To Know About Russia, In Charts
    Tyler Durden’s pictureSubmitted by Tyler Durden on 04/20/2014 20:48 -0400

    http://www.zerohedge.com/news/2014-04-20/all-you-need-know-about-russia-charts

    Why do you think Paul Craig Roberts is so vocal? Why do you thing the many economists interviewed on King World News are so vocal? (Check it out for yourself)

    Until people learn beyond this country’s history and geography, they will land here and keep losing while still hoping that jailing bankers and government will fix it.

    Personally, I don’t have a gripe against Russia. Or China. Or against anyone with half and ounce of world knowledge. Stupidity? You bet! Ignore BRIICS, VISTA and MINT at your peril.

    So… how important is the house in the big picture? NG is making a living selling dreams. And fluff.

  12. christine I read several cases on Foreclosure Fraud where people have got their home back on late because the party calling the loan due did not have a financial interest.

    Look in order to prove the bank wrong on “show me the Note” is a Plaintiff with a net worth of a few thousand against a Defendant that has a net worth of $1 trillion in assets, and $1 trillion zero to .5% Fed Reserve Bank loan is a hard hurdle to tackle, however now that the rich investors are reserving billions in settlements was the evident needed to crack this case.

    You seen smart and if every securities investor is receiving monies back because bad underwriting and falsifying documents to approve and obtain insurance coverage, that means that the securities were under a fraud arrangement.

    You cannot write a loan using bad underwriting that does not fit the programs Fannie, Freddie or Ginnie and obtain insurance illegally, and not expect from beginning to end for this action to be a fraud. Fannie & Freddie through the FHFA settlement have been cleaning up and now Ginnie is getting into the act.

    The monthly mortgage payments could not be collected, nor foreclosures sale or insurance claims, so why do you think these clown are settling.

    I don’t get what you are wanting people to do other than give up? The time is now and you can see that the State of New York court system is trying the tables around on these crooks, and now the other States will follow like the States in the Northwest of the country!

  13. Couple more things…

    NG has bandied about “insurance” which allegedly paid off the house and covered the investors long enough for me to have caught on that insanity long before I filed my own law suit. Hence my decision not to even go there; so far, I’m winning.

    As far as my ranting goes, on this site, unless people come to whine, complain, bitch and moan about how corrupts all judges are, how crooked all attorneys are and how sold-and-paid for government and congress are, they catch flack. Flack for not agreeing with NG, flack for looking beyond “the house, the house, save the house”, flack for pointing out this country’s shortcoming, flack for being optimistic, flack for telling them that they have been steadily feeding the problem, flack for pretty much everything. Comes with the territory. Don’t complain about the results you get. Want different results? Get off the blaming game and off your butt. You might get somewhere.

    Group therapy with no way out. A bunch of chronic complainers with very little to show for, except going ’round and ’round and getting… nowhere while blaming everyone for everything. The American people in a nutshell. NG appears to be a real magnet for the most desperate people…

  14. The reality is what it is. Get caught with your pants down or understand what’s going on worldwide. Not just withing the never-invaded borders of this country with no history but worldwide, with 250,000 years of mankind history, the last 25,000 years increasingly well documented.

    Don’t even go that far: Rome is what’s happening here. In much worse. People can pick and choose the “patriots” they want to listen to. The fact of the matter is that this country is not showing any indication of pulling through short of agitating for war. If anyone can show the opposite from reliable sources (MSM need not apply… Europe MSM press is all over the 4/19/14 banker’s murder in Belgium. Forget about talking about it here…), I’ll consider it.

    As far as NG (and I’ve been reading him for a sweet longtime), he has made some very serious claims he has never proved, never personally pleaded and never tried. Yes, the free house has been one of them. Short memory doesn’t change that. Defend his stance as you wish; homeowners who used his editorials in court and won anything are simply… non existing. Those are the facts.

    If this site is simply group therapy, the least people can do is… admit it.

  15. Best thing this last week was that Ginnie Mae stop BOA from transfer any of the Ginnie pooled loan to another servicer, and is wanting the servicers/bank to “show me the titles”! At least for what I have been fighting for was just this because the fact is that loans such as a Countrywide, IndyMac or Washington Mutual Bank are not going to be able to produce titles to those who has or going to request the debt be called due.

    There is no reason to claim one is behind when there is no counter party of the debt because the counter parties no longer exist. Once these titles cannot be produced the Federal Government as in Ginnie Mae is going to claim they been duped, as the President of Ginnie already on record as saying that they were unaware of what the servicers were doing because this was not a problem in the past, but by saying documents were missing and now Ginnie wants to see the titles I hope spells the end of at least this part of the ruse!

    The servicer cannot deny Ginnie the title paperwork because the loans are being serviced for Ginnie & the investors who have purchased the Mortgage Backed Securities.

  16. @ E. Tolle ,

    Happy Easter Everyone

    Just going to second you here ,, Neil is for the rule of law wherever that may take us … as am I … That might be a fully paid for house or it might be simply getting a title straight … what I do know is that everybody is wearing a mask and everyone has twisted the law to the point where many if not most of the supporting documents are meaningless. I have property (9 hectares and a farmhouse) in a country where the Japanese destroyed the land records during their occupation and I have more faith in the property rights being upheld there with pieced together garbage than I do here. At least there the entire system is not working against the people.

  17. Christine, that’s a most annoying habit you have….posting excerpts from journalistic sources, then interlacing them with your own diatribe, without any notation of where the found source ends and your ramblings begin. Although I’m sure that many LL regulars can tell when it’s you going on a binge, many newbie’s to LL might not know what’s real and what’s not.

    As to an earlier rambling of yours, please feel free to post anything whatsoever you can point to where Neil Garfield has implied a free house for the borrower is the correct legal course of action. Anyone who’s been here for any length of time is well aware of his stance of believing that the borrower still owes the investor, once the bank is stripped from the picture. I’ve never agreed with this view, as it perpetuates the notion that since this crime is so vast, and that something, anything should be done to right it, it would seem a viable alternative to any other remedy available.

    I believe the banks should have to unwind each and every illicit act that they’ve perped since day one, with massive civil AND criminal proceedings exactly like the Nuremburg trials. I don’t care how long it takes, or how many of them fail. I’ll wait.

  18. “PressTV: Dollar dying; multi-polar world in offing

    Fri Apr 18, 2014 2:55PM GMT
    By F. William Engdahl

    A new report by the International Monetary Fund reveals a dramatic shift in the role of the US dollar as reserve currency.

    Not only do 23 other central banks hold Yuan officially, twelve more have invested in Yuan without officially declaring so.
    The most dramatic point in the IMF report is the fact that the relative role of the US dollar in central bank reserves is rapidly declining. Yes, the dollar is still the largest reserve currency. But whereas in 2000 some 55% of all reserves worldwide were in US dollars, today it has declined to 33%. And the trend is accelerating. The IMF does not list the Yuan as an official reserve currency as it is not yet convertible. In its statistics the Yuan falls under the category “other currencies.” The Other Currency share according to the IMF has doubled since the US invasion of Iraq in 2003.”

    War can’t fix that, obviously… That’s OK through: Washington will keep agitating for war anyway. It’s always worked before, right? It’s not about securitization and saving the house; it’s about whether this country has a future and in what language.

  19. US financial showdown with Russia is more dangerous than it looks, for both sides

    The US Treasury faces a more formidable prey with Russia, the world’s biggest producer of energy with a $2 trillion economy, superb scientists and a first-strike nuclear arsenal

    …The US risks endangering its own alliance system if it runs roughshod over friends. It is in much the same situation as Britain in the mid-19th century when it enforced naval supremacy, boarding alleged slave ships anywhere in the world, under any flag, ruffling everybody’s feathers….

    http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10771069/US-financial-showdown-with-Russia-is-more-dangerous-than-it-looks-for-both-sides.html

    America is pushing for war, the last tool of the weak and the desperate; the last industry it has is its military. America needs money and it will do everything to get it. Including manufacture another war and kill millions of innocent victims, even if it is the last thing it ever does. America is ready to bite off its nose to spite its face. And no one will follow. No one. Pathological.

    And its people keep shopping and pretending everything is peachy… Pathological.

  20. Bankers are Behind the Wars
    by George Washington on 04/19/2014 08:00 -0400

    http://www.zerohedge.com/contributed/2014-04-18/bankers-are-behind-wars

    The country is finally waking up… or maybe not. That won’t happen until they take their money out and close their accounts. And stop filing taxes. Nah… Ain’t gonna happen. Too much inconvenience… American people don’t like inconvenience. And as John-Wayne-nostalgic as they may be, they’re afraid. Pure, sheer terror of the unknown and what it means for “the house, the house, save the house!”

    The world is waking up. Here, not so much.

  21. Reblogged this on Deadly Clear and commented:
    Amen Neil! You are so right. These trusts are winding down and they are (in many cases) being paid.

  22. christine doesn’t have a solution for her own legal issues. All cases are different and there is no exact answer, until the questions and background of your particular case have been analyzed fully, in my non-legal opinion.

  23. hman here the problem is that yes you were trying to convince the judge you did not have to pay because the payment from the broker was not the right funding source, so the judge will naturally ask why did you stop paying. Most broker are not originating the loan for themselves in the first place and you and the judge and everybody else knows that. When you signed up it was under the impression you were going to someone other that they broker.

    Now here what I am talking about is that because of the transfers without a purchase that did not involve monies the debt is retired because in the cases with Countrywide and Washington Mutual they no longer exist and are the only ones that can claim a debt due.

    Ginnie Mae is now asking for the lenders to show them the assignment because they are caught not being able to foreclose because there is no financial interest in the loans.

    Just look at what taken place in New York as the judges are asking the requester how did they come to be the owners of the debt, as with UCC 9 the servicer/bank that not the originator has the burden of proof.

    I did not go through State court because the local judges in NE are to far from the action and plus Federal Court there is tremble damage. I believe the key is not whether the funds came from here or there because you not going to be able to get all those records, but whether of not a party own the debt is suppose to be supposed by the securities instruments.

    Christine want you and everybody else to quick and now your campaigning for other to quit. You not offering a solution your just telling people to stop!

  24. Hman:

    You read me wrong. I never said anything was “void”. I’ve been very adamant all along that “void” does not mean the same as “voidable”. Until regulators and/or courts declare certain operations to be void, it
    simply isn’t so.

    That Garfield wouldn’t draw the distinction between “void” and “voidable” is astounding to me. This is misleading and one of these days, it will come back to bite him. Intentional misrepresentation can get an attorney in a lot of hot water.

    Follow his lead at your own peril.

  25. @Christine-You are correct. Many of these instruments were void from the start. My “lender” listed on my Closing paperwork & recorder was a broker who didn’t fund the loan. Clearly a TILA violation. Many people have not used this because they believe the equitable tolling period has expired, however I do not believe the tolling period goes into effect until the real lender has been identified.

    First I sued the broker & won a QT. After I won the bastards at Aurora used MERS to transfer the property from the Broker (who had already disclaimed interest via the QT default). I had to sue again, get the injunction, pay the bond, etc…It’s a joke.

    I had 2 assignments & 2 different mortgage notes. The judges really don’t care about robosigning. I never admitted default & we were still laughed out of court. There is no silver bullets. Don’t let your ego get ahead of you. Please learn from me. If they offer you a deal & it means that much to you than I say take it.

    I appreciate people like TN Harry, John Gault &others who gave me advice along the way. Yup like many others I lost my house. I lived without a payment other than taxes & insurance for over 3 years. I paid off my credit card, car and put some $ in the bank. It wasn’t a complete loss.

    I’ve always been a glass 1/2 full kind of person. Don’t get me wrong losing my house of 15 years where both my kids were born really sucks but I sleep better at night not worrying about if the sheriff will come & throw me out. I encourage everyone to try and fight but sometimes you gotta pick up the pieces & move on.

    Best of luck to those fighting and good luck to those attorney’s who “get it”. You know who you are.

  26. DumDaDumDumDummm ..

    That’s all Folks!
    Have a Safe & Blessed Weekend!

  27. Let not pay attention to whistle-blowers in the this crisis that have presonally received millions, Hunt $31 million (Citi) Szymoniak $18 million (DocX), Edwards $63.9 million (JPMorgan) and there have been others. but according to Christine these amounts don’t count. A judge approved these settlements!

    Christine works you to work out a payment that will increase in 5yrs and has a balloon payment at the end of 30yrs!

  28. Christine its you that is making no sense as you act as if these people have not won for reporting the illegal act by the bank and are not considering that many people have received some help as part of the $25 billion and $10 billion settlement and you nor other attorneys have done nothing to touch those amounts.

    So help a few people get modification that these lender are trying to get rid of to non TARP banks so they can in the end foreclose. Szymoniak in Feb 2014 submitted another claim with the FHA & VA securities that in the amount of $10 billion.

    The only way to help millions is by exposing this on a large scale not one modification at a time. What I am exposing is in the billions as these servicers cannot provide now what Ginnie Mae is asking for and that is a mortgage, deed of trust or security deed that grant them authority to call the debt due.

    Understanding that will clear your head!

  29. You make no sense. Good luck to you.

  30. Christine, my fight is the Lynn Szymoniak, Sherry Hunt tactic which has been proven in the millions to them and the recent VP at JPMorgan guy.

    case closed!

  31. Charles,

    “…because he did not until recently think that the homeowner deserved the houses.” Wrong! You haven’t been coming here long, have you? Garfield has been bandying about the “free house” for as long as I’ve been reading him, going on 5 years or so.

    Dozens on this site played the “free house” card based on his unproven theories and… lost!

    “This crime is not going to make it to a judge because its criminal and the banks are going to settle civil amounts.” Wrong again. This “crime” is not going to make to the judge because… it needs to be prosecuted. By regulatory agencies who, up until now, have had zero incentive to do so and more to gain by not doing so. Still completely irrelevant for what homeowners’ defenses are concerned.

    Different jurisdictions, different issues altogether and raising it only serves to precipitate homeowners’ demise. There are only two ways to fight: the smart way and the stupid way. If Garfield keeps on with his unproven theories, that’s free will and free speech. If homeowners keep refusing to educate themselves and would rather come here to dream results rather than achieve them the smart way, that’s free will too.

    Case closed.

  32. Christine I agree with you that Neil not address a case of his that win on this issue because he did not until recently think that the homeowner deserved the houses. However to me its you that have low exceptions and you get what you get because the moon landing was never a mission for you.

    I realized when I first submitted my SEC whistle-blower claim it would not be quick and easy as I would have like it to be, whoever what I reported in 2011 was that the assignment are forgeries and Ginnie Mae is now asking the lenders today not 2008-2013 but today if the assignment are forgeries!

    This crime is not going to make it to a judge because its criminal and the banks are going to settle civil amounts. Now I won’t be back here writing you about what I am going to do with monies because it will not matter to you or me what I am doing or what you are doing.

    We got to deal with the matter as to why God put these obstacles in front of us, and my goal is to work for the reason I was put here complete.

  33. Charles,

    Start by winning on those theories and show us how you did it. Then I’ll listen to what you have to say. Until then, Garfield is dangerous and serious attorneys with proven results confirm it constantly. If my statement is a downer to you, no one stops you from experimenting. Once you have, do us all a favor: don’t come here to join the ranks of all those disgruntled, deceived and disillusioned Garfield’s followers who declare 24/7 “All judges are corrupt. All attorneys are incompetent. All they want is my money. We the people coulda, shoulda, oughta…”

    7 years into it, Garfield has yet to provide ONE case he argued in court and won on his theories. All people want is ONE lousy case. No matter how you slice it, “void” and :voidable” are two completely different animals and homeowners going there set themselves up for failure. The thing is… if they do today, the don’t have any excuse any longer. They’ve been warned ad nauseam.

    End of discussion.

  34. Dear christine we can also count on downer debbie to show up to the party no matter what been going on in the news in 2014 and not 2008. Just because some have not won yet does not mean that we will not as it all about timing baby.

    If your lender die and has gone onto bank hell as in the case of WaMu, and there was not a purchase of that debt, it is the borrowers right to determine that the debt been extinguished. We don’t need a court of judge to decide this, but what we need the judge to decide is that a party that got no financial interest in the debt has no ability to question whether there is a debt at all.

    Voidable or void is not a part of a ruling when one party have no right to been the action as these phony lenders/servicer have gotten away with. So the REAL is Ginnie Mae has said “Show me the Title”. Ms Christine your assigned a title only if you paid dollar bills for the rights!

  35. Just a tidbit…until you have an opportunity to discuss the “void” aspects of the note…no one will listen. The default is the very first issue….any avoidance, voidable or void legal aspects of the contract, note, assignment, endorsement, are not done-out the gate. In my non-lawyer opinion.

  36. “Why would you admit a payment was due under a note and mortgage (or deed of trust) that were void front the start?”

    What a dangerous statement for an attorney to make on a site purporting to help homeowners! Until regulators take a stand on whether or not is was “void from the start”, Garfield will continue manufacturing as many losers as foreclosure defendants unconscious enough to pursue that line of reasoning. Whether the note or mortgage were void is not for the homeowners to argue and for the judge to decide. Not in court. Further, any “voidable” contract cannot be assumed to be “void”. Judges get pissed when they see homeowners blurting such nonsense, and rightfully so!

    Smarten up people and count the people blogging here who’ve gotten somewhere, anywhere, with it other than on the sidewalk with all their belongings.

  37. i was in a deposition when this happened to me, BOA….it is absolutely necessary to get past magistrate and evidentiary hearing. In my non-lawyer capacity, which is zilch!

  38. Oh thank you Charles for reminding me…..I had 2 of the same Notes in plaintiff paperwork stamped with 2 different people name on each copy.
    So remind how house was fraudclosed again ?????? (amazing I can laugh about the whole corrupt system)

  39. I argued that I wasn’t in default, because I truly wasn’t in default….the servicer refused my payments and put towards escrow balance and still they got the Fraudclosure thru (albeit after 5years of defending)
    So in total argued, no default….robo signing…..post dated assignments of mortgage (and a few other serious issues I forget off top of my head)
    Remind me again, how house was foreclosed ?????????????

  40. Neil misses the point that there is no actual debt because the Notes were endorsed in blank and relinquished which separated forever the Notes, Debts & Titles.

    As Ginnie Mae asking the too big to fail to product the title is an end game to this mess and provides Ginnie Mae and investors cover because they have access to the blank Note because they are already in the possession of Ginnie Mae.

    I figure Ginnie going with the we are only the insurer and are not involved with the foreclosing of the loans or submission of insurance claims, which they don’t in process but the fact remains that the “investors” are the owners of the home mortgage loan by-product in the securities.

    So as its stacking up the question Ginnie is asking is one they already known the answer too and that is there is a problem with the title, because your not asking for the titles if there is not. The President of Ginnie Mae already said that BOA is missing documents and has halted the transferring of the Ginnie pooled loans.

    This should be a wrap on at least the Ginnie securities because in the case of Countrywide and Washington Mutual titles don’t exist granting any parties the ability to foreclose and these files cannot request insurance claims!

  41. Yup, 100% correct and if they ask: could you afford to pay? Well, if there was one? yes…but I am not in default. Thanks…they try to trap you into saying you deliberately did not pay because you couldn’t…wrong answer. Leads into other things, in my non-lawyer opinion. You are therefore verifying, under oath, you owe the debt!

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