Learn the law my friend. In a judicial foreclosure state the homeowner DOES own the house from day one. Every single borrower in a judicial state is the homeowner and has the wet ink title or deed to his property. All the borrower did was agree to give the “lender” a lien on his property to secure repayment. However, the “lender” did not perfect his lien under state UCC law if it used MERS as the mortgagee, so therefore the “lender’s” lien is not valid under the law and the borrower is in fact the homeowner and his/her house does not secure the debt. The borrower still has a debt obligation – question is to whom and was that debt set off by third party payments from co-obligors, endorsers or sureties to the note (see paragraph 9 of your note) – but under the law the borrower is still the homeowner. It is morons like you that are the problem by thinking it is a moral obligation rather than a legal obligation. We are a country of laws not morals. It’s thinking like yours – the law doesn’t matter – that is allowing the fraud which is currently being perpetrated on our courts and citizenry to continue unchecked thereby wrecking our economy and future as a country.

I’ll ask you one question . What account did the money come from that was lent?

Answer: NONE

No one is getting a free house except the banks.

I have posted the public law plenty of times on this site about the law that allows banks to directly print notes from a mortgage promissory note.
The borrower is paying the seller. The bank is simply changing the form of the paper.
At no point are they liable to pay anything . Either on their no recourse acceptance of the “borrowers” note or on the face of the Federal Reserve Note or on the check from the title company.

At no point can the bank prove they can suffer any substantial or material loss from non-payment.

This is an indisputable fact.

You don’t seem to “get” that these houses do NOT belong to the bank. And it isn’t the homeowners “sticking it” to society. Its the big banksters and their Wall Street buddies who have already done that. Perhaps you need a “reality check” by educating yourself a little more.

Now I presume folks have been paying mortgages up until recently (maybe even still). So let’s ask the question: who has been receiving payments? All we need to resolve the technicality of ‘ownership of the note’ is a legal process allowing another claimant on the note to present evidence. Absent evidence, the court ought to then assign ownership of the collateral to the party who has been receiving mortgage payments. Period!

This should not in any way be twisted into some ‘get out of jail free card’ to let homesquatters deny the lender the right to take back property used as collateral for a debt gone bad.

The taxpayers are bearing the brunt of all lender losses in the end, so who are we kidding? Folks who want to stay in the banks house *and* have principal forgiven are basically asking taxpayers like me to pay their mortgage. Sorry, the answer is no. You can just walk away, and on the way out, be sure to flush yourself through BK court because take note that any change (refi, heloc, etc.) to the original purchase loan has turned it into a *recourse* loan, meaning some loan shark can buy the bad debt written off and come and take your car, boat, and other liquid assets away. Get thee out of the banks’ houses and into bk court, and pay your debts. Quit sticking it to the rest of society.

The error in thinking was that ‘debt’ was actually ‘equity.’ Read my lips: there is NO such thing as ‘equity,’ there is only debt, which must eventually be paid off IN FULL and WITH INTEREST to the lender. Period!

I agree Eric.

Bottomline: this sort of massive fraud – where both houses of Congress pass dubious legislation at the behest of corrupt international banks – and without any public hearings or formal vote – is how millions of Americans become profoundly disgusted with both political parties.

Obama, at the last minute and with the mildest words possible, gave us a pocket veto. Was it just a head fake? Perhaps.

I hope not. Yet, as so often, it’s almost impossible for my scepticism – and occasional cynicism – to keep up with the latest corporate and legislative scandals.

To hell with Janet Tavakoli too. I emailed her about MERS and all the mortgage securities crap on in April. No response. Don’t trust these Johnny come lately’s.

The sticky point…..when I asked for an email confirmation WHILE I WAITED, I was told that an email confirmation could not be sent. WTF???? Is the Senate adjourned? Is it NOT? Did this mother fu**er lie?

We were due for a civil war since the stock market crash in 1929. We should have learned that paper money being printed like toilet paper will always crash when frauds are found out about. And this is no exception, the Banks were doing what they always did, make money appear out of nowhere, and the FED never has any excuse for it, and the Government has the BA**S to run up debt on the signatures they use that belong to the people to make a profit. The US debt consists of nothing more then promissory Notes the government uses from our personal debt. They take our own signatures to convert to bonds, then sells them to foreign investor’s and off shore scams. But what is actually going to happen is when they call in all the bonds for payment, we are then slaves belonging to other Nations. Our children and many generations are now the property of other high power ELITE groups, and we will never get back our freedom without a Civil War……… IT HAS TO HAPPEN SOON BEFORE TOTAL COLLAPSE OF THE MONETARY SYSTEM! Which is the plan all along, England has been trying to get control of us since the Last Civil War, and now has found a way to complete the mission. Don’t be fooled, the investors are not shaken in their boots, they are just waiting for the whole system to disintegrate, and then move in for the kill. They will own everything.