Upside Down Mortgage

Archive for the ‘Mortgage Fraud’ Category

Mortgage Fraud Statutes

It was invented as "the most astonishing piece of sleight of hand ever been." The creation of money has been privatized by the Congress by a private banking cartel pulled itself. Most people think money comes from the Fiat issued by the government, but that's not the case. With the exception of coins, only about one-thousandth of the total U.S. money supply, which is composed, all our money, now created by banks. Federal Reserve Notes (dollar bills) are provided by the Federal Reserve, a private banking issuedCompanies, and also gave the government.1 Federal Reserve notes and coins make up less than 3 percent of the money supply. The other 97 percent is created by commercial banks as loans.2

Do not believe banks create the money they borrow? Neither the jury in a landmark Minnesota case, until they heard the evidence. First National Bank of Montgomery vs. Daly (1969) was a courtroom drama worthy of a film script.3 Defendant Jerome Daly, against the bank 'sForeclosure on the $ 14,000 home mortgage loans on the ground that there was no consideration for the loan. "Examination" ( "the thing exchanged") is an essential part of a contract. Daly, a lawyer who argued himself that the bank had put any real money for his loan. The court proceedings were taken by Associate Justice Bill Drexler, whose main role, he said, the order was kept in a highly charged courtroom where the attorneys were threatening a fist fight.Drexler had not given much credence to the theory of defense, until Mr. Morgan, the bank's president, to the stand. To everyone's surprise, Morgan was that the Bank regularly prepares grabbed money "out of thin air" for its loans, and this was standard banking practice. "It sounds like fraud to me," intones, Bureau of Justice Martin Mahoney nodded at the jurors. In his memorandum Court Justice Mahoney stated:

"The applicant acknowledged that they, in combination with theFederal Reserve Bank of Minneapolis. . . has to create the entire $ 14,000.00 in money and credit on their own books by bookkeeping entry. That this was the reasoning used to the touch, 8 To assist in May 1964 and the mortgage on the same day. The monetary and credit policy first arose when they created it. Mr Morgan acknowledged that the United States were no statutes, giving it the right to do so. The legal review must exist and be tenderedSupport of the note. "

Read more http://www.bankcreditsite.com

About the Author:

Source - Dollar Deception – How Banks Secretly Create Money

Blowing the Whistle on Mortgage Fraud

If you're new around here, you might want to subscribe to our Upside-Down Mortgage RSS feed. It's quite likely the only feed of it's type on the internet!

Mortgage Fraud Phoenix

· Falling property prices and the rising number of foreclosures are key concerns in real estate. Mortgage –holders and builders are likely to be the focus of a wide range of initiatives. In this direction, Mr. Obama has already proposed a mortgage tax credit for home buyers who don’t itemize deductions. We still imagine more aggressive relief is likely to be sought.

· In an interview during his eventful presidential campaign, Mr. Obama had mentioned measures to ease mortgage crisis. He has called for the creation of a $10 billion foreclosure prevention fund that will work in tandem with state, local and community. This is to help households facing foreclosure to renegotiate with lenders or put their house on the market. In the long term, the Stop Fraud Act would create criminal penalties for mortgage professionals found guilty of fraud. This would increase funding for federal and state enforcement of antifraud programs.

· Mr. Obama also wishes to create a simplified, standardized metric for calculating the costs of a home mortgage that would be similar to the annual percentage rate used by the banks to identify effective interest rate that a borrower pays for a loan.

· He also proposes changes in the transport facility to needy neighborhoods. In this regard, federal Jobs Access and Reverse Commute program are to be doubled so as to ensure that additional federal public transportation dollars flow to the highest-need communities.

· Mr. Obama has also expressed a goal of making all new buildings carbon-free by 2030. This law has already made its first move by allowing a high tax credit for users of “energy-efficient†sources of energy like solar or wind energy. In future, Obama has proposed introduction of competitive grant program to recognize states and localities that take steps to implement new building codes that prioritize energy efficiency.

· He has also proposed certain tax reforms such as simplifying tax codes that would help general public.

With the implementation of these measures, our anxiety brewed from today’s real estate market is sure to see some signs of ease in the near future.

About the Author:

M Alex White works as a Market president with pardevelopment homes, the popular new homes builder at Arizona and Illinois.

if you are a buyer looking for great properties and latest trends in realty market, visit our website Illinois.pardevelopment.com for tips and latest updates on real estate.

Source - President Elect Obama’s Take on Issues Concerning Real Estate

Mortgage Foreclosure Scams Arizona Attorney General Terry Goddard

Mortgage Fraud Case Law

Facing a home foreclosure is scary and humiliating. This fear can cause immobility to set in and no action ever taken to stop foreclosure. Action is a must if the home is to be saved from bank foreclosure. Knowledge is a must to stop foreclosure.

There are many tips and techniques available to help to stop the foreclosure process. But there is one technique that is of utmost importance to every homeowner.

Now days there is a thing so rampant even the lending institutions are guilty of it. Ready any newspaper almost and you will read of banks going broke and bankers going to jail for committing a little thing called Fraud.

Fraud against who? You, the trusting borrower who believed there are laws to protect you from being taken advantage of. There are, if you can find them and you know someone is defrauding in you. And then you need to prove it.

The records speaks for it self. Banks cannot be trusted. So here are a few ideas to get you to thinking about what may be going on in your own mortgage situation and an angle you may be able to pursue to stop foreclosure on your home.

Remember, fraud vitiates the most solemn of agreements.

Will any of these possibilities fall into the area of fraud? Will any of them help you? You be the judge.

For a contract to be changed it takes the agreement of all parties concerned. That includes the borrower. If the contract has been sold, did the borrower agree to the change of a new mortgagee? If he did not, there may be no contract. Can the contract be reassigned without the borrower's agreement? Therefore, the new contract holder may not have authority or standing to initiate a bank foreclose.

Is it legal for one bank to sell a note, then collect the payments and pass it on? Are they committing a fraud by collecing on a debt already paid?

Is it legal for banks to lend debt or credit? Where in all the laws of this land has it been decreed debt can be loaned? Is not credit debt? Credit is used as a term of being able to borrow. But it is also used as term of debt. When a loan is made what is loaned? Debt is loaned. Your credit (debt) limit is... Nothing of intrinsic value has changed hands in this kind of loan process.

Money was created by moving one set of figures from one column to another. Even if they hand the borrower a stack of bills with the labels of Federal Reserve Note printed on the top of each one, the borrower has only received a pile of debt. Note equals debt.

If you are facing the mortgage foreclosure process arm yourself with all the knowledge you can then take action.

About the Author:

Download the Foreclosure Survival Handbook Here http://www.stop-mortgage-foreclosure-process.com

Get more information about bank foreclosure here 5 Things You Need to Know About Bank Foreclosure

Source - Could the Banks Fraud Put Your Home On the Foreclosure Auction Block?

Miami Florida Attorney - Lawyer Dania Fernandez www.FloridaLawAttorney.com Real Estate Spanish #31