Foreclosures

[Chex]

Some lenders are moving to foreclose just weeks after the borrower dies, many families say. The complaints are echoed by borrowers across the country, according to a review of federal and state court lawsuits against reverse mortgage lenders.

Beware they are plunged into a bureaucratic maze as they try to get lenders to provide them with details about how to keep their family homes.

Diana posted, Anyone with any sense knows that a loan or mortgage has to be paid back by someone. No one is entitled to any inheritance. I would rather know that my parents or parent lived their final years how they wanted and had the money to do it comfortably than see them in some home just so I could get their stuff. My mother-in-law got a reverse mortgage and when she couldn't stay in the house anymore it was sold and the loan paid back and her sons split what was left. No one counted on getting the house or anything else.

[pumpkin]

Out of curiosity, I have looked into foreclosures. I knew foreclosures are conducted in equity, and wondered how and why it is that way. What I found was that long ago, mortgages were conducted in law. But if the debtor had not paid the full, entire amount by the due date, the creditor got the title. All of it, even if only a very small portion was left unpaid. The debtors would appeal to the equity courts, and the equity courts would pay off the amount due the creditor, then give the 'equity' of the debtor back to him, as this was more equitable. So foreclosures migrated to the equity courts. But in the mean time, the bankers were busy gathering the gold to replace it with fiat, and of course they succeeded. Today we are left with foreclosures in equity, but the mechanics of the loaning process has changed drastically. Today, foreclosures would completely fail in law. The banks do not loan deposits but only obtains the funds for a loan after the application is completed, so in law, no consideration kills the foreclosure case in law, yet it remains viable in equity. Since equity follows the law, how does a case that fails in law due to lack of consideration remain alive in equity? I have also read somewhere that one can object to any equity proceeding that does not involve fraud. I must admit that the foreclosure cases do involve fraud, but they are perpetrated by the plaintiff.

[EZrhythm]

Since equity follows the law, how does a case that fails in law due to lack of consideration remain alive in equity?

One's signatures create a presumption of a waiver of rights at the signing table. The whole process is done by consent from day one until the presumptions are rebutted, signatures rescinded etc.
There is always an option to correct the record.

[EZrhythm]

Edit - Duplicate post

[Chex]

One's signatures create a presumption of a waiver of rights at the signing table. The whole process is done by consent from day one until the presumptions are rebutted, signatures rescinded etc. There is always an option to correct the record.

That's interesting signatures create a presumption

There is always an option to correct the record.

And once and for all where would that be, and who do you give it to?

[pumpkin]

Oh, yes, the never ending presumptions.

[Chex]

Oh, yes, the never ending presumptions.

http://finance.yahoo.com/blogs/daily...123408710.html

[Michael Joseph]

http://finance.yahoo.com/blogs/daily...123408710.html

Years ago I taught some friends how to make Walmart their bank. They still use Walmart today. Once we began to understand how to fulfill the law, we began to make a use of electronic accounts because in the end I can only fulfill the law. What others do is their business.

[David Merrill]

Correct - by and large WalMart is Chinese.

I have watched how suitors who work at WalMart have no Signature Card to sign. They are given a WalMart debit card when they hire on and that is how they are paid. It makes it a little difficult to make demand for lawful money but the Notice and Demand process (served on the Fed Bank) keeps their employer, WalMart out of the loop entirely.

[jacobwhite08]

You're right! Beware of buying a house foreclosures, always be smart and check the background or papers direct to the owner. Unfortunately, the online foreclosure industry site, RealtyTrac, recently released its quarterly report on the market, concluding that more than one in four residential home deals in the United States during the first quarter were sales of foreclosure houses. A glut of foreclosures will decrease the price of homes and hold back market recovery. Last week's Labor Department report showed further slowing in the recovery of the nation's jobs market. The slow financial recovery proceeds at snail's pace.

[JohnnyCash]

First house we bought was a foreclosure, owned by HUD. Put some work into it and sold it for double.

I have run across two people who think China now owns the Federal Reserve; Jim Willie & ZAP...
http://www.youtube.com/watch?v=B26qf-GxhdE around minute 16

Alright, the gold lease, I believe, was significant, something on the order of 2000 tons. They call it the Mao Era Gold hoard. Mao Tse-tung. I believe the Chinese said to the Wall Streeters, yeah we don't trust you; we want some collateral behind this gold lease because WE DON'T TRUST YOU! And they had some property they attached, like JP Morgan's headquarters in South Manhattan. Like some other property. The Chinese own 30% of Manhattan commercial buildings right now. And I'm hearing ... this is very difficult to prove but it pieces together well. This is my theory: the Chinese had the US & Wall St devise what I call an IRS tax source secure stream derivative. Think of it as a national mortgage bond. And with all the IRS income, which is not tiny, I think it's like 600 billion a year. With that amount of money they created a derivative, think of it as a mortgage bond at the national level, an aggregate mortgage bond. And they put it into place and it was held by the Chinese govt with the gold lease being the underlying contract in delivery.

So Wall Street sold out the US population twice. Once with Most-Favored-Nation status given to China & the build-up of their industry. And second with the IRS guarantee. Which I believe, through the painful, annual, chronic recessions that we have that I believe, I'm not making this up, I look at the improper price inflation calculation and the deflator on their nominal gross domestic product, the GDP and I see a 4 and 5% error every single year. They're calling inflation growth. So when we say we have a 2% growth for one year, I say no, it was -2 or -3. Now we're saying we have close to a 3% negative first quarter? I'm saying minus 7% recession. The chronic recession brought about a default on the IRS secure stream; we no longer can provide that aggregate income from the IRS derivative and my speculation is that with this default China confiscated some Wall Street properties, like the headquarters for JP Morgan, and I believe, has now purchased a significant stake, and maybe a majority stake, in the Federal Reserve.

https://kauilapele.wordpress.com/2014/08/10/office-of-poofness-8-10-14-if-i-were-a-rich-man/

THE TREASURY HAS TO FOLLOW ORDERS. SO DOES THE FED. THE FED IS OWNED BY THE CHINESE FAMILY, AND THEY HAVE TO DO THE RIGHT THING AND SIGN OFF ON THE TRN LIKE EVERYBODY ELSE. THEY DID. THE TRN IS COMMERCIAL NOW (NOT PUBLIC YET) AND IS BEING USED IN MAJOR TRANSACTIONS. WHEN IT DOES GO PUBLIC, EVERYBODY WILL KNOW IT. I AM REAL CURIOUS HOW THE NEW NOTES WILL LOOK LIKE. MAYBE THERE WILL BE A PIG IN THERE SOMEWHERE. JUST HOPING.

[Chex]

http://www.forbes.com/sites/kenrapoz...n-real-estate/

Why Chinese are buying U.S. real estate, http://money.cnn.com/video/news/2013...ney/index.html

The American Dream http://endoftheamericandream.com/arc...-united-states

P.S. Out of Washington:And here

[pumpkin]

Beware of buying a house foreclosures, always be smart and check the background or papers direct to the owner.

Foreclosures are done in equity. Equity can be objected to at any time. The people have the right to due process of law and in law today, foreclosures fail.