Bank Claiming Possession

Land, personal possessions, and self. Not necessarily in that order.
cascey
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Re: Bank Claiming Possession

Post by cascey » Mon Jul 20, 2015 7:59 pm

Not quite sure how to navigate catching up on the mortgage loan, esp as there is uncertainty on who the creditor is.. barely able to navigate sustaining myself in what is a very difficult situation. Only recently have I learnt that it seems the lender has transfered the mortgage loan to another.. one that is seemingly with a reputation that is much worse.. and it appears their (only) office is in Michigan.. The lender that we have been paying through the years.. nows who I am.. not sure if that same information was passed on to the new lender.. Wondering what if.. the lender goes nothing else save move to sell the property meanwhile with me still in possession?.. otherwise according to what I've been told.. the lender would have to move for an eviction.
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Re: Bank Claiming Possession

Post by editor » Tue Jul 21, 2015 6:06 am

This is just an idea--

If you don't know who to make the mortgage payment to, then open an escrow account, and start making payments into that account. File a notice with the register of deeds with your name, the property description, and the fact of the escrow account. All the holder-in-due-course has to do to get the funds, is prove they actually own the mortgage.
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cascey
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Re: Bank Claiming Possession

Post by cascey » Tue Jul 21, 2015 5:48 pm

?
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Re: Bank Claiming Possession

Post by editor » Wed Jul 22, 2015 4:15 am

I don't know what your question mark is intended to mean.

It seems unlikely that you wouldn't know to whom you should make the mortgage payment. You've already mentioned MERS, which is a service the banks hire to collect payments. The banks can then trade their commercial paper all they want-- MERS collects the money, and presumably keeps track of who they should send it to.

The mortgagor doesn't really have much to say about this system. It doesn't matter.

The point at which you need to be concerned (in my opinion) is if someone tries to foreclose on the mortgage. Now it is appropriate to demand they prove they are the holder-in-due-course, or at least a bona fide agent.
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cascey
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Re: Bank Claiming Possession

Post by cascey » Fri Jul 24, 2015 4:54 pm

another things I've been wondering about.. wasn't something said by someone else.. regarding florida.. property taxes and removing your property from the tax rolls??.. esp if your property is not involved in commerce, just a residence.. meaning not involved in commerce. I forget where I read that.
cascey
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Re: Bank Claiming Possession

Post by cascey » Fri Jul 31, 2015 6:34 pm

How does one reply to a summons/lawsuit complaint?? Please, do, forgive my ignorance. It indicates that I have 20 days, less than 19,18.. to respond to the court. Is my reply to the court, my counter claim?? How to advance my claim?

Depending on how I respond, I have an idea of next steps just these questions (also) that remain).. Does one need to go through probate in order for there to be a short sale? or Deed In-Lieu of Foreclosure.
cascey
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Re: Bank Claiming Possession

Post by cascey » Fri Jul 31, 2015 6:44 pm

So, along with drafting a response to the court.. It is suggested to hmm Notice the lender.. or a Qualified Written Report(QWR) to get them to prove their claim.

I looked at the copies of the Note.. one Title Insurance company's copy has just the Borrower's signature (period).
All other copies, including the copies in the summons have a couple strings of numbers.. one of the first copies. just has the addition of the FHA loan number along the right side of the document.

All others have what appear to be the loan numbers from when the Promissary Note was transferred. Do those handwritten additions mean that the Original Promissary Note has been altered. I thought the Original Promissary Note is to contain just the Borrower's(homeonwner's) signature.. And that any additions handritten or otherwise cause the Note to have been altered. It's the Borrower's Note.

All attention and assistance in this matter is greatly appreciated.
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Re: Bank Claiming Possession

Post by editor » Sat Aug 01, 2015 3:12 am

There is nothing wrong with the note having only the borrower's signature-- it is the borrower making the promise to pay.

There would also be nothing wrong with only the borrower's signature appearing on the mortgage-- it is called a "unilateral" contract.

Teaching you how to respond to a summons, especially in such a generic context, is beyond the scope of this forum.

Making a notation of transfer on the note is not altering it. Nothing about the transfer changes the rights or duties of the borrower.

No offense Cascey, but it appears to me you're trying to find any technicality you can, in hopes of invalidating the mortgage, and taking possession of the property free and clear. While I acknowledge that the way banks do business is largely fraudulent, nevertheless your benefactor (of whom you are heir) did acquire the house by giving a promissory note to the bank. If you assume the assets in this matter, it is my opinion you must also assume the obligations. I'm not aware of any paperwork which will lawfully extinguish the mortgage, or relieve your liability for property taxes while the mortgage is in effect.

My opinion is that you should try to settle this in a conventional manner, through probate, or perhaps with an affidavit of heirship, and start paying the bank if you want to keep the house.

If you don't have enough equity in the house for any of this to matter, and you just want to see what you can get away with, then you might try some of the Commercial Redemption procedures floating around. I, myself, have zero confidence any of it will work. But it might be fun for awhile. Be aware that if you make a wrong move you may find yourself learning new skills under Federal supervision.

See my opinion on Commercial Redemption here: http://lawfulpath.com/ref/cr-rejected.shtml
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cascey
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Re: Bank Claiming Possession

Post by cascey » Sun Aug 02, 2015 7:03 pm

..Unsure If I'm receiving any replies to the moessages I post.. Seems I am only able to do so though only after I post a message myself, if at all.
cascey
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Re: Bank Claiming Possession

Post by cascey » Sun Aug 02, 2015 7:12 pm

So, appreciate you reply.. I did just read it after posting one myslf.. being that is is my home.. I have been simply trying to educate myself meanwhile navigate all that is happening around me all the while doing so virtually alone.. have met a couple new aquaintances.. and yet another attorney who did say that according to her the estate does Have To Be probated.. cost 1200.oo.. meanwhile not listening to much of the things that concnern me.. perhaps understandable so... as it was a passing by meet and greet.

The Sommons does indicate a Mediation Process..

also.. among the very few options.. uhmm.. full payment..short sale.. deed in lieu of foreclosure.. so trying to navigate what to do n then pondering what to do n with personal belongings n such.. feeling at a loss.. Though indeed apprecaite all comments.. suggestions and such.. a tremendous help
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