Comments on: What Happens If Your Mortgage Lender Goes Bankrupt

By: lvent

lvent — Sun, 17 Jul 2011 03:04:30 +0000

THEY GAVE BAD LOANS TO BUNDLE THEM UP WITH GOOD LOANS SO WE WOULD ALL FAIL.IT WAS A PONZI SCHEME, LIKE ENRON AND BERNIE MADOFF ON STEROIDS. THEY SOLD UNSECURED NOTES AS AAA AGENCY PAPER WHEN THEY WERE NOT ONLY UNSECURED NOTES, WORTHLESS, BUT ALSO LOADED WITH HIDDEN RISKS TO THE INVESTORS..ALL THEY NEEDED WAS A SIGNATURE FROM US AS COLLATERAL, THAT IS WHAT THEY SOLD, A PROMISE TO PAY WHICH GENERATED AN INCOME STREAM. THAT IS WHAT THE INVESTORS INVESTED IN, NOT A MORTGAGE. THEY CREATED A BUBBLE OUT OF SPECULATION AND RISK KNOWING IT WOULD ALL FAIL. SEE YOU TUBE VIDEO, CNBC ILLUMINATI CRASHES STOCK MARKET. WE WERE SET UP TO FAIL AND ROBBED IN THE BIGGEST TRANSFER OF WEALTH FROM MAINSTREET TO WALL STREET TO THE FOREIGN RULING ELITE IN HISTORY.

By: lvent

lvent — Sun, 17 Jul 2011 02:55:42 +0000

They never lent any money. They were sponsors. They bundled and sold the loans to depositors who sold the income stream MANY TIMES OVER, not the mortgage to trusts. That is a nullity of the mortgage and also securities fraud because they never perfected the collateral lien at ORIGINATION.That is why they destroyed the notes. To cover up the ORIGINATION FRAUD.THEY BIFURCATED THE MORTGAGE AND THE NOTE, A NULLITY. YOU CANT FORECLOSE AND TAKE SOMEONES HOME WITHOUT OWNING THE MORTGAGE.

By: lvent

lvent — Sun, 17 Jul 2011 02:42:03 +0000

Don’t renegotiate with a pretender lender, check your public recordings and do a title search before you renegotiate or send them another dime.40 million homes in America are not legally forecloseable. see the website, 4closurefraud.org

By: lvent

lvent — Sun, 17 Jul 2011 02:38:43 +0000

CLOUD ON TITLE MEANS SOMEONE COMMITTED FRAUD IN YOUR NAME. AND SLANDERED YOUR TITLE TO YOUR PROPERTY AND YOUR GOOD NAME. UCC CODE ALLOWS A BORROWER TO STOP MAKING PAYMENTS WITHOUT DISHONOR UNTIL THE LENDER CAN PROVE THEY OWN THE MORTGAGE AND THE NOTE. GUESS WHAT? THEY CANNOT BECAUSE THEY ARE A GIANT CABAL CRIMINALS AND CHASE BANK IS PUBLIC ENEMY #1. THEY ARE A ROGUE REGIME, A GIANT MONOPOLY THAT OWNS AND CONTROLS EVERYTHING UNDER ASSUMED NAMES FROM THE TITLE CO.S, TO THE TRUSTS, TO THE REAL ESTATES, THE MORTGAGE LENDERS, THE SERVICERS, THE BANKS WHO CALL THEMSELVES OTHER NAMES BUT REALLY ARE ALL OWNED BY CHASE. CHASE AND BOFA ARE FOREIGN MULTINATIONAL NEW WORLD ORDER OWNED AND CONTROLLED SCUM. THEY ARE DESTROYING THE FREE WILL OF THE PEOPLE, GLOBALLY.

By: lvent

lvent — Sun, 17 Jul 2011 02:30:56 +0000

No, a new lender cannot just ASSUME a loan unless they are as the mortgage states successor and assign to the mortgage. In other words they have to prove they OWN THE LOAN BY a release of mortgage to the homeowner with a cancelled note and mortgage from the previous lender to the homeowner and an assignment recorded at the recorder of deeds with a new mortgage with their name inserted in it establishing the new lien. They cannot just buy a note either, that is a nullity and proves no interest in the property…And then their is the not so little matter of the ORIGINATION FRAUD and the fact they sold UNSECURE NOTES TO MULTIPLE TRUSTS WITHOUT PROPER SECURING OF THE COLLATERAL LIEN AT THE RECORDER OF DEEDS OR DELIVERY OF NOTES TO THE TRUSTS AS THE PSA REQUIRES. A/K/A SECURITIES FRAUD. THEY COULDN’T DELIVER THE NOTES TO THE TRUSTS BECAUSE THE NOTES WERE NOT SECURITY INSTRUMENTS BECAUSE OF LACK TO PERFECT THE COLLATERAL LIEN. THAT IS WHY THEY DESTROYED THE NOTES. IN THAT CASE THE PRETENDER LENDER MUST RESCIND BECAUSE THEY DONT OWN THE MORTGAGE. 40 MILLION HOMES ARE NOT LEGALLY FORECLOSABLE BECAUSE OF MASSIVE MORTGAGE FRAUD AND TITLE SLANDER WHICH MEANS TITLE FRAUD.

By: mellowm

mellowm — Mon, 11 Apr 2011 03:52:44 +0000

PLEASE DON’T DO IT! Spend your mortgage payment on a lawyer to file for quiet title!
They have a worthless pile of paper.

By: Remi Stevens

Remi Stevens — Thu, 08 Apr 2010 10:21:31 +0000

Ah but if the entire industry wasn’t backed by a corrupt central bank it would be a different story.

If the lender went under, its probably because they originated many bad mortgages. In a true ‘free market’ no one would want to buy your bad mortgage from the bankrupt lender and you would end up with the property.

That’s if banks weren’t running the government of course. Unfortunately they are and we will continue paying our mortgages or be evicted.

By: char

char — Tue, 30 Mar 2010 23:49:59 +0000

I’m interested in a forclosure property that has listed New Century Mortgage Corp for the bank, how can I get a hold of this bank to make an offer or buy it from the bank??? I have tried everything. Thanks

By: Market Observer

Market Observer — Thu, 31 Dec 2009 06:15:32 +0000

http://www.google.com/search?hl=en&rlz=1C1GGLS_enUS344US344&q=how+to+find+out+who+owns+your+mortgage&aq=f&oq=&aqi=g2

I have not done extensive research on this as other people are paying my mortgage and building equity for me, but I’d start with the link above. I know that Fannie and Freddie have websites dedicated to this task.

Hope that helps.

By: Colette

Colette — Wed, 23 Dec 2009 08:18:23 +0000

Are there agencies that can assist the home owner in researching whether the current mortgage broker has the actual title to their home if the loan has been sold time and time again?

By: Market Observer

Market Observer — Sun, 25 Oct 2009 07:48:36 +0000

You were being asked to go through another loan process because the buyer of your mortgage could not locate the title to your home (because it was packaged over and over in CDOs), therefore they have no legal standing to collect a mortgage payment. I hope you did not refinance.

By: Mercades willis

Mercades willis — Tue, 28 Oct 2008 15:34:11 +0000

I just wonder why banks giive out money to people iif they know they can’t pay it back.

They shouldnt give out loans to anybody

By: Amy

Amy — Thu, 19 Apr 2007 18:47:32 +0000

People’s Choice has just filed Chapter 11 and wants to auction off their existing mortgages, one of which is mine!

Why can’t I bid on my own mortgage?

I know I can’t so, when it gets sold to another lender, can I maybe renegotiate the terms of the loan? It is currently an ARM and we were in the process of looking for another lender anyway.

We would love to get a call from our broker telling us we get to re-fi for free!

By: Joy Beth

Joy Beth — Thu, 12 Apr 2007 21:16:04 +0000

My mortgage broker called me and told me I’d be doing another loan process. It all seems rather strange, it would be logical that New Century would sell my loan but for me to have to refinance again just seems a little off. They said I won’t have to pay any re-finance fees, just my usual mortgage and then I’ll have a new loan. It just sounds rather strange to me…….

By: Miller

Miller — Thu, 05 Apr 2007 17:00:34 +0000

I was wondering this the other day too.

I guess I was hoping that if your lender went bankrupt, you’d just own the house out right. But like wanzman said… fat chance!

So your mortgage is just sold off like any other commodity the bankrupt company owns? I guess that does make sense…

Do mortgages ever make their way into bonds? I’m not sure exactly how those all connect…