Understanding the Paragraph 22 Argument in Foreclosure Cases

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Understanding the Paragraph 22 Argument

I’ve spoken about it many times, but even now, I’m regularly asked “what is paragraph 22?”  I suppose it’s time I give a real-life example and show what all the fuss is about.

Paragraph 22 of the standard Fannie Mae/MERS mortgage requires the lender give the borrower written notice of any default and an opportunity to cure that default before filing suit.  That means, before filing a foreclosure lawsuit – and as a condition precedent to the filing of that lawsuit - the lender is required to send written notice of the alleged default and give the borrower a chance to cure that default.  But it’s not enough that any letter be sent – the letter has to contain certain, specified information, as set forth in paragraph 22.  Specifically, the letter has to: (a) specify the default; (b) specify the actions required to cure the default; (c) give the borrower 30 days to cure the default; (d) inform the borrower that failure to cure the default may result in: (i) acceleration; (ii) foreclosure by judicial proceeding; and (iii) sale of the property; (e) inform the borrower of the right to reinstate after acceleration; and (f) inform the borrower of the right to assert in the foreclosure proceeding the non-existence of any default or any other defense to foreclosure.

That sounds technical, and in some ways, it is.  However, there is an excellent argument to be made that, under Florida law, if the foreclosure plaintiff failed to send this letter, and the letter failed to specify all of the required information, that the bank cannot prevail and the lawsuit must be dismissed.

Rest here…

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4closureFraud.org

Comments
4 Responses to “Understanding the Paragraph 22 Argument in Foreclosure Cases”
  1. L2 says:

    I’m with Iris on this. Paragraph 22 REQUIRES THE LENDER AND ONLY THE LENDER to send the required notice to the homeowner. The servicer is not the lender, particularly when all they’ve noticed the borrower of is that they (the servicer) will be collecting payments and nothing else in the mortgage is affected. It stands to reason that this portion of the contract CANNOT be rewritten by the court.

    Has anyone raised this issue on behalf of the homeowner(s)? If so, what was the result?

    • Iris says:

      SERVICER- I was making payments to servicer when i decided to stop paying. The ” Letter of Demand” says servicer can start legal action. It was not sent registered or certified dont recall ever receiving this documents. 2nd page says servicer is a debt collector. Servicer is mentioned on the TRUSTEE’S DEED. lost property 12/2008.

  2. Iris says:

    What if Servicer sends you a “Letter of Demand” it was not sent via registered mail or certified. Paragraph 22 Lender what about if it is the Servicer that sent you the letter?

  3. charley rice says:

    IT’S TIME FOR THE PEOPLE TO PUT THEM, ALL ON NOTICE AND PROTEST!!!

    THAT’S WHY EVERY FORECLOSURE IS A FRAUDULENT RECORDING IN THE COUNTY RECORDS FROM THE MERS, RECONTRUST, & FORECLOSURE MILLS, SHOULD BE ALL BE AUDITED FROM THE COUNTY RECORDERS AND BE DECLARED INVALID!

    THEN THESE DOCUMENTS NEVER WOULD HAVE MADE IT INTO THE COURTS…

    DURING THE YEAR OF 2008 ALL THE ORIGINAL SUBPRIME LENDER BANKS HAVE WENT OUT OF BUSINESS, AND SOME FILED CHAPTER 11 BANKRUPTCY WERE LONG GONE.

    THE SUBPRIME LENDERS COULDN’T HAVE ISSUED THOSE NOD DOCUMENTS BECAUSE THEY WERE GONE… FOREVER… IT’S IMPOSSIBLE

    ALL THOSE NOD’S WERE BACK DATED BY ROBO SIGNERS, AND THE UNLAWFUL DETAINERS CAME AFTER THE TRUE LENDER WAS ALREADY OUT OF BUSINESS BY THE CONSPIRATORS AND ACCOMPLICES ABOVE WHICH FALLS FLAT ON IT’S FACE…

    BECAUSE THERE WAS NO VALID CHAIN OF ASSIGNMENT; IT NEVER WAS…

    ALSO THE 2008 3rd PARTY BAILOUT BANKS ARE NOW DOING LENDER WRITING PERJURY, AND DOUBLE DIPPING BY CLAIMING THAT THEY’RE YOUR LENDER VIOLATES YOUR DEED OF TRUST CONTRACT AND YOUR INSTRUMENT IS NOW; AND HAS BEEN DEFECTIVE EVER SINCE YOUR TRUE LENDER WENT OUT OF BUSINESS, IT WAS CANCELLED;

    AND THE 3rd PARTY BANKS ALSO KILLED THAT DEED OF TRUST CONTRACT BY STATING THEY’RE YOUR LENDER ON ANY OF YOUR DOCUMENTS THAT THEY SENT YOU IS “FRAUD”…

    THIS IS A VIOLATION OF UNSAFE AND UNFAIR PRACTICES PROFESSIONS CODE SECTION 17200

    “GO LOOK ON EVERY STATEMENT SINCE YOUR BANK HAS DIED.”

    YOU CAN ONLY HAVE ONE LENDER…

    THE COURTS NEVER SHOULD HAVE LET THOSE DOCUMENTS IN; AND THE COUNTY RECORDERS SHOULDN’T HAVE EXCEPTED THE FAKED DOCUMENTS…

    “ALL THE COURTS HAS NO VENUE OR JURISDICTION OVER FAKED INVALID DOCUMENTS IS VOID; FALLS FLAT ON IT’S FACE, AND LAND REVERTS BACK TO THE TRUE LAND OWNER.”

    IT LOOK LIKE ALL OF THEM FROM THE COUNTY RECORDERS, JUDGES, LAWYERS HAVE MADE SOME SERIOUS ERRORS, AND ARE TOO EMBARRASSED TO ADMIT IT…

    IT’S JUST TOO BAD; THEY KNOW THAT THEY HAVE TO REVERSE, RESCIND ALL THOSE LANDS!

    THEY ALL CONSPIRED AND STOLE THE MONEY FROM OUR TRUST, AND THE PEOPLE WERE DEFRAUDED FROM THEIR LAND BIG TIME, AND THEY HAVE A RIGHT TO PROTECT THEIR LANDS BECAUSE THEIR DOT CONTRACT HAS TIED THEM TO ONE LENDER THAT NO LONGER EXIST!

    AND THE PEOPLE WILL WAKE UP, AND GO RECLAIM THEIR LANDS BECAUSE NO CORPORATION aka BANK CAN CLAIM A HOME BECAUSE IT’S FICTION; “NOT REAL…”

    ONLY A TRUE FLESH AND BLOOD CAN CLAIM LAND.

    FICTION BANKS, STATE, ETC, CAN’T CLAIM LAND UNLESS THEY CAN VERIFY THE DEBT UNDER THE FDCPA.

    DID THEY EVER SEND YOU ONE? I DON’T THINK SO…

    THIS GRAND THEFT, AND IT MUST STOP!

    ONLY A REAL PARTY OF INTEREST CAN CLAIM LAND;

    AND NO FLESH AND BLOOD OR A PARTY OF INTEREST HAVE NOT SHOWN UP IN THAT COURT ROOM TO CLAIM YOUR LAND HAVEN’T THEY? JUST A ZOMBIE BANK…

    IN ADDITION THEIR LAWYER HAS NO PROOF OF AUTHORITY NOR STANDING CAN’T REPRESENT THAT BANK BECAUSE IT VIOLATES ”

    THE DEAD MAN STATUES…”

    ONLY YOU CAN CLAIM LAND, AND THEY BETTER SHOW PROOF OF CLAIM…

    FORWARD TO ALL!

    LET THE PEOPLE OF WORLD KNOW OF THIS….

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