“Damn my eyes … The people I’ve seen … Crawling via the wreck of the American dream “
Vacation ranch
Perhaps the greatest help to parties who foreclose illegally is the word “mortgage.”
In all 50 states, this word is universally misused as a synonym for “home loan.” Home loans are known as mortgages as a slang term.
But a mortgage is not a home loan at all. It is simply the name of an incidental, but not essential, instrument used to define the collateral that a borrower of any type of loan has agreed to pledge as collateral for the repayment of a loan. The lender and the borrower have agreed that the borrower’s pledged security will be forfeited in the event of default. The term mortgage evolved from the fact that the mortgage loan included the property as collateral. The mortgage described the collateral. In fact, the correct name for this type of document or instrument is “security instrument”.
The term “mortgage” is used to identify the security instrument in most judicial foreclosure states. But, in most states non-judicial foreclosure is known as a “deed of trust.” In all 50 states, it is the promissory note that ties the borrower to his debt.
In addition, in all 50 states, the security instrument is only needed or used when a borrower signs a promissory note as physical evidence of the money that he has borrowed and used for the purpose that both the borrower and the borrower have agreed to. This security instrument (remember, it can be called a mortgage or deed of trust) is used only if the borrower finishes buying back his Note (that is, canceled the home loan) or is unable to pay it.
This is important to remember because court judges do not know how real estate businesses work and are repeatedly fooled by their perception of the situation and not by the law. You need to get the judge to understand that the promissory note is not the top priority. Debt, or money, is what is real, real. It was the money that the house paid for. The promissory note is the physical evidence that a money loan was made. However, each party in foreclosure must show how they came to legally possess it. Possession of the note is no more proof of ownership of the loan than possession of a car is proof of ownership of that car. Proof of ownership must come from contracts, transfers, cashier’s checks, etc. involved in the deal. The constitution says that without “concrete and particularized” evidence to back up claims of foreclosure law, there is no foreclosure law.
You do not owe a promissory note to the holder in due course of your loan, you owe the money you received as a loan to the repayment. The Promissory Note is important because it is all that exists to evidence the debt in case the borrower pays it all or does not complete the payment. We focus on directing that message to the judges. The performing party as a debt collector will focus on the words of your claim and only the words and not the money it represents.
If you did not receive the money from the lender on behalf of your Note and Security Instrument, then neither party can claim that you legally purchased the Note. The fraud is that they just say they have the promissory note and don’t even try to prove how they got it. Without crediting this claim with “concrete and particularized” proof, then the Promissory Note that they claim to have is null. A debt collector cannot collect money from someone who does not owe you money.
The debt collector must show that they have the right to collect (foreclosure is an act of “debt collection”), therefore, they must also prove without question that they paid money for your promissory note before they can demand that you pay it back. the money. No borrower can be forced to pay someone who does not owe you. I am convinced that 100% of home loans made after 1999 or possibly even earlier named a lender who did not give the borrower any of the promised money. Yes, the borrower absolutely got the money, but from whom? You should pay only the interest on the real part.
The debt collector must prove it was him or them. Once a borrower has spent the borrowed money for its intended purpose, there must be evidence of the loan and the terms of payment. The Promissory Note is that evidence and is the essential proof that a loan has been made and is owed. If the borrower and the lending party have agreed that something substantial is needed to ensure that the lending party can get back the money loaned from them, even if the borrower cannot pay it back. The borrower may pledge some of his property as collateral, which is commonly called collateral.
Some synonyms of the word collateral are: surety, guarantee, guarantee, insurance, indemnity, endorsement, indemnity; as in “she put her house as collateral for the loan”
There is a great deal of confusion caused by the use of the word mortgage to refer to a home loan. Some of this is an innocent evolution of the term Promissory Note and Mortgage that in the past have been part of a document or instrument.
But, today, the criminal parties who foreclose (I do not use the word lender here, because very, very rarely is the foreclosing party the actual lender or even the legal owner of the essential promissory note) are using assignments of the essential note. mortgage (or deed of trust for supposedly transferring ownership of your loan, but in reality they are taking advantage of the common misuse of the word “mortgage” as slang meaning “home loan”.
It is an intentional, misleading and misrepresented act, since there is no assignment of the mortgage. “Only the assignment of the Note can transfer ownership of a loan. But, it is done simply by endorsing the Note itself, as well as endorsing a check to deposit into your bank account at your bank, or to take cash.
The mortgage, like the description and the collateral, always follows the Promissory Note as it is essential for a loan. The Promissory Note never follows the assignment of the “accessory” mortgage.
The United States Supreme Court described this in the case of “Longan v. Carpenter” in 1872, and since all Supreme Court rulings and orders of the United States Supreme Court are binding as law in all courts of the nation. All courts are arms of the United States Supreme Court.
I learned a lot from what I know from 2012 reading authors who seemed to be trying to help borrowers who were locked in fraudulent foreclosures. Today I know that those authors helped me well. We were unclear on these issues and the real intention was to find a way to make money off misinformed borrowers. I had an advantage over most borrowers because I am not a lawyer. However, I have long been a home loan specialist, because I am both a real estate broker and a mortgage broker (here, once again, I use the term mortgage incorrectly).
What we call a lender (among the worst names) claimed to the borrower that they were going to lend him money to buy his house, but the lender cannot trust everyone to know that you borrowed money. There must be evidence that you borrowed money and that you know who loaned it to you.
So if I loaned you $ 200,000 (dreamer) and you gave it to the seller of the house, the money will be gone. What is left when the money is delivered to the home seller? All that is left after you, the borrower, pay the money to the home seller is the debt to the lender, which is the “debt” that you must pay.
You signed the promissory note and gave it to the lender providing physical evidence that you have borrowed the money and that you have promised to return it according to the terms that you and your lender agreed to. (This includes the interest rate, the amount of time until everything is paid back, how often you pay, and how much you pay each time you pay.)
So the Note is evidence of the debt. (But not really the debt). The law should require a promissory note to be recorded, but, as we will discuss later, there is a record that indicates that at some point there was a promissory note.
Now, since you promised to return the money that was given to you and there is written physical evidence of the money you received, then we can say that the Note is essential to the deal you have made. For many hundreds of years, everyone has known that the Promissory Note (many professionals and other puppets like to say “Note”, but I have learned to say it exactly how it is supposed to be said).
Anyway, for literally hundreds of years, everyone has always known that the promissory note is the only essential piece of a home loan.
But, the lender paid for the house for you, and that house is really the best collateral you can tie to the loan you made. There is no law that defines what you and the lender can agree on as what you will promise the lender in the event that you cannot repay the money you borrowed, but the home you are buying with that borrowed money makes logical sense.
In today’s world (after 1994) you probably couldn’t have convinced a lender about any other collateral, so you probably signed a Security Instrument outlining the property and what happens when you have paid all the money back, or what happens if He can not do it. return the money in accordance with the terms of the promissory note.
The security instrument is, then, a kind of rule book about what will happen if everything goes well and what will happen if things don’t go well. More simply, the Security Instrument is the rule book for the loan. It describes the Promissory Note and is the guide you will use if A. You pay the Promissory note you signed to get the money to buy your home and B. You do not pay the Promissory Note.
A better description could be that you don’t really pay for your house as we often think. In effect, you buy back the promissory note that you signed and issued to get use of the money. When you finish buying your Promissory Note again, you used to get the Promissory note always marked as PAID. But, the banking world influenced legislative bodies across the country to allow shortcuts to this, further confusing the judges.
The Promissory Note is no longer evidence of any debt, because when you paid all the agreed money, you no longer have any debt. People used to have parties and burn the promissory note when it was returned to them marked as paid and this purchase of a promissory note can be defined by the term “free and clear.” This term means link free.
