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“Fuck my eyes… the people I saw… Crowlin.” through The wreckage of the American dream
farm vacation
Perhaps the greatest help for illegal foreclosure is the word “foreclosure”.
In all 50 states, this word is universally misused as a synonym for “home loan”. Home loans have come to be known as mortgages as a generic term.
But a mortgage is not a home loan at all. It is merely the name of an incidental, but not essential, instrument used to identify the collateral that the borrower of any type of loan has agreed to pledge as security for loan repayment. The lender and the borrower have agreed to forfeit the collateral pledged to the borrower in the event of default. The term mortgage originated from the fact that a home loan included the property as collateral. Description of the mortgage guarantee. In fact, the correct name for this type of document or tool is Security Tool.
The term “mortgage” is used to define the security instrument in most cases of foreclosure. However, in most non-judicial states the foreclosure is known as a “trust deed”. In all 50 states, the promissory note is what binds the borrower to his debts.
Also, in all 50 states, the surety instrument is only required or used when the borrower signs a promissory note as physical evidence of the money he borrowed and used for the purpose agreed to by both the lending party and the borrowing party. This security instrument (remember it may be called a mortgage or trust deed) is only used if the borrower finishes buying back the promissory note (i.e. paying off the home loan), or becomes unable to pay.
It is important to remember this because court judges do not know how real estate deals work and are repeatedly deceived by their perception of the situation rather than the laws. You must make the judge understand that the promissory note is not a top priority. Religion, money is what is real real. It was the money that paid for the house. A promissory note is the physical evidence of making a loan with money. But, each foreclosure party must prove how they came to own it legally. No longer is possession of a promissory note proof of title to the loan, possession of a car is proof of title to that car. Proof of ownership should come from the contracts, wires, cashier’s checks etc. that are involved in the deal. The Constitution states that without “concrete and ad hoc” evidence to support claims of a right to foreclosure, there is no right to foreclosure.
You do not owe a promissory note to the owner in the due course of your loan, you owe a refund of the money you received as a loan. A promissory note is important because it is all there is to prove the debt in the event that the borrower pays it in full or fails to complete the payment. We focus on getting this message across to the judges. The foreclosure party as a debt collector will focus on the words of his claim and only the words and not the money he represents.
If you do not receive the money from the lender’s name on the promissory note and security instrument, there is no way either party can claim to legally purchase the promissory 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 substantiating this claim with “tangible and ad hoc” proof, the promissory note they say they have is void. A debt collector cannot collect money from someone who does not owe them any money.
A debt collector must prove that they have a right to collect (foreclosure is an act of “debt collection”) so they must also prove beyond a reasonable doubt that they paid money for your promissory note before they can ask you to pay them back any money. No borrower shall be obligated to pay a person who does not owe it. I am convinced that 100% of the home loans made after 1999 or maybe even earlier named a lender who did not give the borrower any of the money promised. Yes, the borrower certainly got the money, but from whom? Only the real party must pay the interest.
The collector must prove that it is him or them. Once the borrower has spent the borrowed money for the intended purpose, there must be proof of the loan and terms of repayment. The promissory note is this evidence and primary proof that the loan has been made and is due. If the borrower and the lending party agree that something substantial is needed to ensure that the lending party can recover the money it lent, even if the borrower is unable to repay it. A borrower can pledge something in his possession as collateral which is usually called collateral.
Some synonyms for the word guarantees are: surety, surety, surety, insurance, indemnity, support, indemnity; Like, “She put up her house as collateral for the loan.”
There is a great deal of confusion caused by the use of the word mortgage to mean a home loan. Part of this is an innocent evolution of the term bond and mortgage which were once part of a single document or instrument.
But, today, parties making foreclosures (I don’t use the word lender here, because very, very rarely the foreclosure party is the real lender or even the legal owner of the underlying promissory note) use a mortgage (or deed) assignment of trust to transfer ownership Your supposed loan, but they’re really tapping into the common misuse of the word “mortgage” as slang for “home loan.”
This is a deliberate act of deception and misrepresentation, as there is no such thing as a mortgage assignment.” Only an assignment of a promissory note can transfer title to a loan. But, only the promissory note itself is approved, much like an endorsement of a check for deposit in your bank account at Your bank, or to take cash.
Mortgage, as a description and agreement of collateral, always follows a promissory note because it is essential to the loan. A promissory note never follows an assignment of an “incidental” mortgage.
The US Supreme Court described it in the case “Longan vs Carpenter” in 1872, and since all decisions and orders of the Supreme Court of the Supreme Court of the United States are binding as law on all courts in the nation. All courts are arms of the US Supreme Court.
I learned a lot of what I know starting in 2012 from reading authors who seemed to be trying to help borrowers who had been locked into fraudulent mortgage foreclosures. Today I know that these authors are useful. They were not clear about these issues and the real intention was to find a way to make money off borrowers who had misinformation/ I had an advantage over most borrowers as I am not a lawyer. However, I have long been a home loan specialist, because I am a real estate broker and mortgage broker (here the term mortgage is again misused by me).
What we call a lender (among the worst names) claimed to the borrower that they would loan him or her to buy your house, but the lender can’t count on everyone just knowing you borrowed the money. There must be evidence that you borrowed the money and that you know who lent it to you.
So, if I lend you $200,000 (Dreamer) and give it to the seller of the house, the money is gone. What is left when you hand the money over to the home seller? Whatever is left after the payment from you, as the borrower, to the home seller is a debt to the lender, which is the “debt” that you must repay.
You signed the promissory note and gave it to the lender providing physical evidence that you borrowed the money from him and promised to pay it back on the terms you and the lender agreed to. (This includes the interest rate, the amount of time until it is paid in full, the number of times you pay, and the amount you pay each time you pay.)
So, a promissory note is a proof of debt. (But, not actually debt.) A promissory note should be required by law to be registered, but as we’ll talk later, there is a registration that indicates a promissory note existed at some point in time.
Now, since you promised to pay back the money you were given and there is written physical evidence of the money you received, we can say that a promissory note is necessary to the deal you entered into. For hundreds of years, everyone was new to a promissory note (many pros and other clients like to say “note,” but I’ve learned to say it exactly as it’s supposed to be said).
Anyway, literally hundreds of years ago, everyone always knew that a promissory note was the one and only indispensable piece of a home loan.
But the lender has paid for the house for you and this house is really his best collateral to tie to the loan he made. There is no law that defines what you and the lender can agree to be what you will pledge to the lender in the event that you cannot repay the money you borrowed, but the house you buy with that money borrowed makes sense.
In today’s world (post 1994) you probably couldn’t talk the lender into any other collateral, so you probably signed a surety instrument that describes the property and what happens when you pay back all the money, or what happens if you are unable to repay the money according to the terms of the bond promissory note
The security tool then, kind of a rule book about what happens if things go well and what happens if things don’t go well. More simply put, the collateral instrument is the rule book for the loan. Describes the promissory note which is the evidence you will use if a. You pay off the promissory note you signed for the money to buy your home and b. Do not pay the promissory note.
A better description might be that you don’t really pay rent for your house as we tend to think it is. In effect, you are buying back the promissory note that you signed and issued in order to cash in. When you finish buying back your promissory note, you always used to get the promissory note back with a “paid” sign. But, the world of banking influenced legislatures across the country to allow shortcuts to this matter further confusing judges.
A promissory note is no longer proof of any debt, because when you’ve paid off all the money you agreed to, you no longer owe a debt. People used to throw parties and burn a PN when it was returned to them with a paid mark and a repurchase of a PN can be defined by the term ‘free and clear’. This term means free from any privileges.
