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getmyjive11 said...
So why did you challenge any of this? Did you default on a mortgage? Did you just get curious?
I'm not sure what the issue is... the bank lends you the money, you buy the house, you pay back on the mortgage on an agreed interest rate and duration. The payback amount is clearly printed on the form that you sign. So what's the issue?
Unless... you were dumb enough not to take out a fixed mortgage? It wasn't that, was it?
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Topspin1 said...
No, i do not have a mortgage. Mine was discharged through the courts as I took the system to task. Simply put the entire system is a fraud. Again, your signature creates the funds. The bank does not "loan" you money. They create the funds through your signature. You are the actual creditor and not the debtor. This is why they are not at your closings. They are a part of the fraud behind closed doors. I help people everyday and am in court often. The judge knows of the fraud and will attempt to stop you through your lack of knowledge because he is protecting the system, or so he thinks. He is a bankers best friend. What has to happen to be successful is you need to be able to handle your own affairs. No one can do this for you. Dont be afraid. Read HJR192 and HR1491. This is a good start. Look.....take your bank to task...Have them produce the "wet ink" mortgage document. When they fail to do this, you will start to understand the fraud. Ask them where it is. Ask the for the 1099OID to prove the origin of the funds....Odds are its been sold a couple of times to hide the truth.....Ahhhh the digital age......
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jmoose4bama said...
what the heck are you talking about?
1. almost all banks sell their loans. It takes a lot of money to service a 30 year loan, thats the reason most small banks sell theirs to the big boys.
2. origin of funds- this is from capital invested into the bank. this is how a bank typically makes money, they make loans. rich people give banks money, this money is then loaned out to people like you in good faith and you pay back more money. why the hell would they tell you John Smith gave us 5 million dollars to loan you so you could have a home?
3. whomever holds the mortgage has the power to foreclose on you. yes, documents do get lost and some people are able to get out of foreclosure because of this but most of the time it just slows the process down. shame on people like you who do this, no one at the bank held a gun to your head while you were signing your name.
4. shouldn't need a lawyer if you are doing what youre supposed to be doing. if people banked the way they used to, knew their bank very well then when you hit a tough spot they will work with you. perhaps you should give up 247sports and the internet (probably TV too). probably save you about $140 a month that you could actually put towards the loan that was made in good faith to you.
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jmoose4bama said...
what the heck are you talking about?
1. almost all banks sell their loans. It takes a lot of money to service a 30 year loan, thats the reason most small banks sell theirs to the big boys.
2. origin of funds- this is from capital invested into the bank. this is how a bank typically makes money, they make loans. rich people give banks money, this money is then loaned out to people like you in good faith and you pay back more money. why the hell would they tell you John Smith gave us 5 million dollars to loan you so you could have a home?
3. whomever holds the mortgage has the power to foreclose on you. yes, documents do get lost and some people are able to get out of foreclosure because of this but most of the time it just slows the process down. shame on people like you who do this, no one at the bank held a gun to your head while you were signing your name.
4. shouldn't need a lawyer if you are doing what youre supposed to be doing. if people banked the way they used to, knew their bank very well then when you hit a tough spot they will work with you. perhaps you should give up 247sports and the internet (probably TV too). probably save you about $140 a month that you could actually put towards the loan that was made in good faith to you.
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Topspin1 said...
You are missing the point Laura. The contract is void because it is fradulent. The American public has been lied to concerning mortgages since 1933. Please go back and read my posts. YOU generated the funds, not the bank. You need to understand the system. Its digital monies generated by your signature. I know its hard to understand, but we as Americans have been hosed, used, lied to....Its sad because now the system is broken and cannot be fixed so we the people will suffer and pay. We americans are not very smart people. The whole governmental/financial system is all phony. You just have to do your research and one day...POOF...you will get it...and boy will be be depressed, followed by anger, then a desire to hold them all accountable...
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jmoose4bama said...
I think you are asking the wrong question, it should be are people really that dumb to know that they are paying back $430k on a $194k loan.
as for fractional banking, do you think banks put your cash into a mattress? your ignorance is really showing it's face. I bet you will be on here talking about the strawman pretty soon.
Documents do get lost, seen it happen a lot in the hospital. You have turnover and the new person might not know what the previous person did with it.
I have more knowledge regarding this subject then you know. Congrats on backing out of contract, you've shown your true character. Good luck in life, hope karma catches up with you.
This post was edited by irishyoung on 7/17/2012 at 8:56 AM
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MKatUmich said...
read it again, only the first part was in response to you. As for your comment, they why sign the loan in the first place? That's how the loan works and everybody goes into it with eyes wide open. You don't want to get screwed by the banks then start saving your cash. Personally i'm just glad I was able to refinance in this market and am making almost triple payments every month on my house so I don't lose all that money to the bank. One of the benefits of buying a house when I had less money, now it's easy to afford.
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MKatUmich said...
read it again, only the first part was in response to you. As for your comment, they why sign the loan in the first place? That's how the loan works and everybody goes into it with eyes wide open. You don't want to get screwed by the banks then start saving your cash. Personally i'm just glad I was able to refinance in this market and am making almost triple payments every month on my house so I don't lose all that money to the bank. One of the benefits of buying a house when I had less money, now it's easy to afford.
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FSULaura said...
The vast majority of Americans are idiots, I'll give you that. I just don't understand your objective. What do you want to do? You rescind the fraudulent contract, is everyone giving back their property? You don't just get to keep a free house, that isn't how it works. Or do you want the banks to pay some kind of damages? What's your end game?
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jmoose4bama said...
I think you are asking the wrong question, it should be are people really that dumb to know that they are paying back $430k on a $194k loan.
as for fractional banking, do you think banks put your cash into a mattress? your ignorance is really showing it's face. I bet you will be on here talking about the strawman pretty soon.
Documents do get lost, seen it happen a lot in the hospital. You have turnover and the new person might not know what the previous person did with it.
I have more knowledge regarding this subject then you know. Congrats on backing out of contract, you've shown your true character. Good luck in life, hope karma catches up with you.
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MORTGAGE INFORMATION