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HERE COMES AHC — AMERICAN HOMEOWNERS COOPERATIVE SOON TO A SCREEN NEAR YOU. THE PLACE WHERE YOU WILL BE ABLE TO NAVIGATE EASILY THROUGH INFORMATION, SERVICES AND PRODUCTS THAT WILL HELP YOU CLEAR YOUR TITLE, FIGHT OFF MORTGAGE CLAIMS, AND DEFEAT FORECLOSURE AND EVICTION ATTEMPTS. NOBODY HAS STUDIED THIS SUBJECT MORE THAN OUR TEAM.

There are some new investigation and document products we will shortly have on line and some back office litigation support for lawyers that I know will be a hit. We want to be clear about the main elements of our message:

The LOAN OBLIGATION arises by operation of law when the borrower takes the money. There doesn’t need to be any paperwork for you to owe money when you received it. The presumption is that it wasn’t a gift.

The PROMISSORY NOTE is supposed to be evidence of the LOAN OBLIGATION that arose by operation of law. But in the case of nearly all loans that are claimed to be securitized, the note is NOT evidence of the obligation owed tot he true creditor. The NOTE contains elements of the obligation, but fails to identify the creditor (the inventor/lender) and fails to provide all the terms for repayment. The MORTGAGE BOND given to the investor/lender also is NOT evidence of the obligation to repay because it fails to identify the homeowner as the borrower (instead it identifies the Special Purpose Vehicle or “Trust”) and contains many terms for repayment that have nothing to do with whether the homeowner pays or not, while other terms are conditioned or triggered by the homeowners refusal or failure to pay.

The MORTGAGE DEED or DEED OF TRUST is neither the OBLIGATION nor the EVIDENCE OF THE OBLIGATION. It is a separate agreement which allows a creditor to seize, foreclose or otherwise encumber property based upon (A) the existence of a debt that remains unpaid (B) the breach of an agreement to repay that debt. The MORTGAGE is INCIDENT to the NOTE only because it says that it secures the repayment as set forth in the NOTE. It could be incident to the obligation, but it never says so.

A MORTGAGE does not attach to any property, real or personal, without satisfying the elements of perfecting a lien, which means sufficient disclosure such that one stranger in the marketplace would know who holds the interest and how they could satisfy the obligation and clear the title to the property of any encumbrance arising out of the MORTGAGE. Just because a MORTGAGE document exists does not mean it is actually a mortgage and even if it was intended to be a mortgage it does not mean that it legally is attached to the land without perfecting the lien and recording it.

A MORTGAGE is an interest in real property. Interests in real property must be recorded. In the case of loans claimed to be securitized, the mortgage or deed of trust identifies nobody (usually) who is a creditor by either name or description. Instead, anticipating the trading of receivables arising out of obligations from the homeowner, the servicer, the insurance company and others, it describes nominees or actors who are merely place holders for the real people. The “real people” are those whom Wall Street participants will LATER select.

That is why the mortgage is not perfected as a lien against any property even though it says it is and even though it is recorded. The reason is that in order for a lien to be perfected, it must be apparent from the official record who to go to in order to pay the balance due and receive a satisfaction of the obligation. That information is absent from virtually all notes and virtually all mortgages and deeds of trust. If you must take somebody’s word for it, it must be litigated and a court order must be entered in order for title to be cleared. (Quiet Title)

TRANSFERS of interests in receivables (OBLIGATIONS), NOTES and/or MORTGAGES are devoid of any substance if the lien was not perfected — except to say that it is possible that the obligation, unsecured by any interest in real estate (no valid mortgage) might have been legally transferred to a new “creditor” if they paid for it, if it isn’t in default and if the borrower gets notice of it. Any purported creation or transfer of a mortgage does not become a valid enforceable lien against property unless it is recorded and otherwise satisfies the elements of a perfected lien. This is so confusing that it explains why even the securitizers will claim or even foreclose on the same obligation trying to enforce a mortgage that never attached to the land. Ultimately they must fail.

Our COMBO tells the tale of what is in the official records, what the relationship is between the documents that are in the official title records, and who was probably behind the transactions that occurred at the closing table with the homeowner, unbeknownst to the homeowner. The TITLE REPORT tells the story and pertinent details of all title matters in official records book as they relate to loans on the property. The TITLE COMMENTARY includes further research into who signed documents and whether the documents are authentic or contrived.

Together the TITLE REPORT and TITLE COMMENTARY tell the story about whether there are breaks in the chain of title as to the deed, the mortgage or any other interest in the real estate. The SECURITIZATION REPORT tells the story about how the money was handled and suggests, along with the SECURITIZATION COMMENTARY how the reality of the transaction can be accurately portrayed, notwithstanding differences in the the documents contained in the official records books.

Our COMBO does not tell the customer that his loan is actually in an asset backed pool or trust because (a) that would not be true a statement and (b) it would defeat the purposes of the customer who wishes to disengage himself from the encumbrance of a mortgage that never attached to his land. Once the customer produces his own report showing the loan was securitized, he is admitting the lien was perfected, and admitting it was transferred, leaving the only issue being “transferred to whom?” People argue with us and say “But I saw it on the Fannie website!” Yes I’m sure you did. I’m equally sure that whoever put it there didn’t know anything about the supposed transaction that put it on the Fannie list, that the documents were never transferred and that the original mortgage and note were fatally defective documents that never attached to the land. Fannie, Freddie or “Melvin” won’t convince me otherwise.

OUR COMBO shows that the money moved but the documents didn’t.

• It shows that the mortgage was written but never perfected as an attachment to the land.
  
• It shows that the note was written and signed but it didn’t describe the whole transaction and contains false representations about the identity of the lender or creditor.
  
• It shows that the obligation might still exist, but without additional accounting from the ACTUAL creditor ( the investor/lender), neither the balance nor the payments due can be known.
  
• It shows that the servicer has an obligation to continue payments in exchange for a fee, even if the homeowner does not pay.
  
• It raises factual questions about the actual status of the obligation and the actual status of title.
  
• It provides adequate traction for issues to be raised to file a suit for quiet title.

Tags: bankruptcy, borrower, countrywide, disclosure, foreclosure, foreclosure defense, foreclosure offense, foreclosures, fraud, LOAN MODIFICATION, modification, quiet title, rescission, RESPA, securitization, TILA audit, trustee, WEISBAND
Posted in bubble, Corruption, Eviction, securities fraud |