Comments on: The Seductive but Flawed Logic of Principal Reduction

By: l vent

l vent — Wed, 16 Mar 2011 16:36:46 +0000

In reply to John Hart. We are here because of Keneysian economic policies put in place by the elite so they may be able to create countries full of debt slaves. Paper currency is A FRAUD. We have nothing but worthless paper. With the value of this paper as worthless as it is, we would never be able to pay back any debt with this for many lifetimes. They have put us in the preverbial "trick bag". This money is backed by 0. Gold and silver are the only currencies that never lose its MONETARY value. They knew this. They screwed all of us..Paper money has put all of us in a debtor's prison. We the people owe NO allegiance to this falsely created foreign debt. It was a SCAM by the NEW WORLD ORDER to own and control the world by creating massive falsely induced, fraudulenlty created debt. They RANG US UP. WE THE PEOPLE ARE NOT PAYING FOR THE FRAUD BORN OF CORRUPTION. WALK AWAY FROM ALL OF THE DEBT. Taxes are more falsely induced and unsubstantiated falsely created debt slavery. America needs aNationwide tax revolt. A REAL TEA PARTY.

By: l vent

l vent — Wed, 16 Mar 2011 14:00:23 +0000

In reply to John Hart. Isn't our Government wonderful? They deceived and betrayed us, sold out our country and then stuck it to all of us. Why? Because foreign elite secret societies are really running the show because treasonists within our own governmental structure put money , power and greed before their people and country. . They used us up, then kicked us to the curb. Kinda like what a pimp does. The reason we are all here today is because of a secret plan these eliteists hatched over 100 years ago to upsurp our Government and take over the world. They are the New World Order/ the U.N. Do not be fooled about who the main players are hiding behind the scenes of this. They are mostly foreign and they intend to do us permanent harm No one is safe, they are the vatican assassins and they are hiding behind the scenes of this entire Financial/ Foreclosuregate cisis and they have many faces and many cohorts.

By: John Hart

John Hart — Tue, 15 Mar 2011 22:24:24 +0000

WHERE DOES THE FRAUD BEGIN?

          Let’s start our journey of discovery with the purchase of a home and subsequent steps in the financial process through th life of the “mortgage loan”.  It all starts at the “closing” where we gathand buy something, you are then making a purchase with a “Note” (a promise to pay).  There is absolutely no gold or silver backing the Federal Reserve Notes that we refer to as “money” today.

     When you sit down at the closing table to complete the transaction to purchase your home aren’t you tendering a “Note” with your signature which would be considered money?  That is exactly what you are doing.  A “Note” is money in our monetary system today!  You can deposit the “Federal Reserve Note” (a promise to pay) with a denomination of $10 at the bank and they will credit your account in that same amount.  Why is it that when you tender your “Note” at the closing that they don’t tell you that your home is paid for right on the spot?  The fact is that it IS PAID FOR ON THE SPOT.  Your signature on a “Note” makes that “Note” money in the amount that is stated on the “Note”!  Was this disclosed to you at the “closing” in either verbal or written form?  Could this be the place where the other players come into the transaction at or near the time of closing?  What happens to the “Note” (promise to pay) that you sign at the closing table?  Do they put it in their vault for safe keeping as evidence of a debt that you owe them as you are led to believe?  Do they return that note to you if you pay off your mortgage in 5, 10 or 20 years?  Do they disclose to you that they do anything other than put it away for safe keeping once it is in their possession?

WHAT ACTUALLY HAPPENS TO THE “NOTE”?

     Unknown to almost everyone, there is something VERY different that happens with your “Mortgage Note” immediately after closing.

Your “Mortgage Note” is endorsed and deposited in the bank as a er with other people that are “involved” in the process to sign the documents to purchase our new home.  Do we really know what goes on at the closing?  Are we ever told who all the participants are in that entire process?  Are we truly given “full disclosure” of all the various aspects of that entire transaction regarding what, for most people, is the single largest purchase they will make in their entire life?

     Let’s start with the very first part of the transaction.  We have a virtual stack of papers placed in front of us and we are instructed where we are supposed to start signing or initiling on those “closing documents”.  There seems to be so many different documents with enough legal language that we could read for hours just to get through the the first time, much less begin to fully understand them.  Are we given a copy of all these documents at least 7 days prior to the closing so we can read and study these documents so w fully understand what it is that we are signing and agreeing to?  That has never happened for the average consumer and purchaser of a property in the last 30 years or more if it ever has at al.  WHY?  We have a stack of documents placed before us at the “closing” that we haven’t ever seen before and are instructed where to sign or initial to complete the transaction and “get our new home”.  We depend on the real estate agent, in most cases, to bring the parties together at the closing after we have supplied enough financial data and other requested information so tat the “lender” can determine whether we can qualify for our “loan”.  Obviously we have the “three day right of rescission” but do we really stop to read all the documents after we have just purchased our home and want to move in?  Is the thought that there might be something wrong with what we have just signed a primary thought in our mind at that time?  Did we trust the people involved in the transaction?  Are we naturally focusing on getting moved into our new home and getting settled with our family?


     Who are the players involved in the transaction from the perspective of the consumer purchasing a property and signing a “Mortgage Note” and “Deed” or similar “Security Instrument” at the closing?  There is, of course, the seller, the real estate agent(s), title insurance company, property appraiser who is supposed to properly determine the value of the property, and the most obvious one being who we believe to be “the lender” in the transaction.  We are led, by all involved, to believe that we are, in fact, borrowing money from the “lender” which is then paid to the current owner of the property as compensation for them relinquishing any “claim of ownership” to the property and transferring that “claim of ownership” to us as the purchaser.  It all seems so simple and clear on its face and then the transaction is completed.  After the “closing” everyone is all smiles and you believe you have a new home and have to repay the “lender”, over a period of years, the money which you believe you have “borrowed”.

IS THERE SOMETHING WE DON’T KNOW?

     Everything appears to be relatively simple and straightforward but is that really the case?  Could it be that there are other players involved in this whole transaction that we know nothing about that have a very substntial financial interest in what has just occurred?  Could it be that those players that we are totally unaware of have somehow used us without our knowledge or
consent to secure a spectacular financial gain for themselves with absolutely no investment or risk to themselves whatsoever?  Could it be that there is a hidden aspect of this whole transaction that is “standard operating procedure” in an industry where this hidden “aspect of a transaction” occurs every single banking day across this country and beyond?  Could it be that this hidden “aspect of a transaction” is a deliberate process to unjustly enrich certain individuals and entities at the expense of the public as a whole?  Could it be that there was not full disclosure of the “true nature” of the transaction as it actually occurred which is required for a contract to be valid and enforceable?

THE DOCUMENTS INVOLVED

     The two most important and valuable documents that are signed at a closing are the “Note” and the “Deed” in various forms.  When looking at the definition of a “Mortgage Note” it is obvious that it is a “Security Instrument”.  It is a promise to pay made by the maker of that “Note”.  When looking at a copy of a “Deed of Trust” such as the attached Exhibit “A”, which is a template of a Tennessee “Deed of Trust” form that is directly from the freddiemac.com website, it is very obvious that this document is also a “Security Instrument”.  This is a template that is used for MOST government purchased loans.  You will note that the words “Security Instrument” are mentioned no less than 90 times in that document.  Is there ANY doubt it is a “Security”?  When at the closing, the “borrower” is led
to believe that the “Mortgage Note” that he signs is a document that binds him to make repayment of “money” that the “lender” is loaning him to purchase the property he is acquiring.  Is there disclosure to the “borrower” to the effect that the “lender” is not really loaning any of their money to the “borrower” and therefore is taking no risk whatsoever in the transaction?  Is it disclosed to the “borrower” that according to FEDERAL LAW, banks are not allowed to loan credit and are also not allowed to loan their own or their depositor’s money?  If that is the case, then how could this transaction possibly take place?  Where does the money come from?  Is there really any money to be loaned?  The answer to this last question is a resounding NO!  Most people are not aware that there has been no lawful money since the bankruptcy of the United States in 1933.

     Since House Joint Resolution 192 (HJR 192) (Public law 7310)
was passed in 1933 we have only had debt, because all property and gold was seized by the government as collateral in the bankruptcy of the United States.  Most people today would think they have money in their hand when they pull something out of their pocket and look at the pape that is circulated by the banks that they have been told is “money”.  In reality they are looking at a “Federal Reserve Note” which is stated right on the face of the piece of paper we have come to know as “money”.  It is NOT really “money”, it is debt, a promise to pay made by the United States!  If you take a “Federal Reserve Note” showing a value of ten dollars

By: l vent

l vent — Tue, 15 Mar 2011 20:47:01 +0000

There are going to be no principal write downs and no loan mods. Fannie/Freddie are going away is what Timothy Geithner said today. The banks have no one to guarantee/back the fraudulent inducements. The banks don’t want to take the risk on of us defaulting. If we default they will probably not be able to cash in their credit default swap insurance, that is a risk they are not willing to take. The national default rate is the direction this is going. The more defaults drives the default rate to 0. That means to the bank no one is defaulting and they can no longer fraudclose if technically no one is defaultling. I hear strategic default is the new trend among homeowners. Way to go America. Let’s bring them down. They robbed us with impunity and it was intentional.

By: l vent

l vent — Tue, 15 Mar 2011 20:24:42 +0000

In reply to Pamela. I read that we are really being ruled under Roman Law. They lied to us. America is really a dictatorship. They are trying their damndest to hide it from us. Those scoundrels, they lied to us about everything.

By: l vent

l vent — Tue, 15 Mar 2011 20:21:55 +0000

In reply to Pamela. The more people that default brings the default rate to 0. It is like no one is defaulting then the banks cannot fraudclose. A lawyer told me this. We need those default numbers. This is an important number.That is when the fraudclosures stop. We also need a nationwide tax revolt. That is how we will be heard. Our money talks and then their bullshit walks.

By: Pamela

Pamela — Tue, 15 Mar 2011 20:14:37 +0000

I vent, it appears to me that alot of lawyers are reading from cookie cutter texts either due to the fact they are uninformed or scared because they are not up to speed.This is very daunting not just for us but for SOME of them as well.The ones that actually do have thier clients best interest at heart are scared of being run out of town on a rail if they do not suceed.Should this excuse them never but to an extent I understand.What I don’t understand is when faced with all the ammunition we have why we still can’t get anywhere?My only answer is that it’s all rigged and they are complicit with everything and they are not going to rock the boat.Somewhere there has to be some lawyer or judge that should do something.But it is not wide spread and pervasive yet.I agree it is pay back time,now how to carry that out and bring to fruition?

By: l vent

l vent — Tue, 15 Mar 2011 19:31:19 +0000

In reply to Pamela. @Pamela: That is the angle the lawyer obviously wants to avoid because the fraud is an obvious joke to the judges and the banks. Apparently the judges are making a mockery of our claims of fraud. Anyone hear what the nationwide default rate is in America right now? An attorney back a few months ago told me the more defaults will bring the default rate to 0 and then the banks will no longer be able to FRAUDCLOSE because that will mean the exact same thing as NO ONE is defaulting.WE NEED THOSE NUMBERS.. Bloomberg is having a special report tommorrow on the rising rate of Strategic Default in America, they are calling it "Keeping up with the Joneses" Way to go America!!!!! We got set up and robbed. by the Casino PERPS, THE WALL STREET/BANKER CABAL and hiding behind the scenes of that are the foreigners , the vatican assasins and the aristocrats, The sheeps in wolves clothing who were the masterminds behind the whole PONZI SCHEME ROBBERY. Time for the AMERICAN PEOPLE TO DEFAULT ON ALL OF THE FRAUDSTERS. THEY SCREWED ALL OF US. IT IS PAY BACK TIME. .

By: Pamela

Pamela — Tue, 15 Mar 2011 16:36:13 +0000

I vent so in essence what he was telling you was we have a judicial pricing clearinghouse running here. I’ll bet that DOCX and lps have price sheets for :Criminal Fraud….200.00 Oh you’ve been a very bad bank ….100.00 and so on .Thats why thier not afraid of us is because they know that its only a monetary penalty and thats it.

By: l vent

l vent — Tue, 15 Mar 2011 16:21:09 +0000

In reply to Pamela. @Pamela, The attorney I spoke with yesterday told me that the forging of my mortgage docs will only result in a $200.00 fine for the criminals, a mere slap on the wrist from the judge.. He told me I am better off using that whole package of fraud as leverage to negotiate with the pretender lender than try and nit pick it with the judge.. The whole loan is fraudulent from start to finish.