by Danny Hammond of the 3/4 Court Press
In Other News:
Heirs of a cold war, that's what we've become, Inheriting troubles, I'm mentally numb
Yes, They Are a Criminal Organization.
In the battle to defend your home from wrongful foreclosure, homeowners often find themselves up against big names like U.S. Bank, Deutsche Bank, or Bank of New York Mellon. These “trustees” appear on foreclosure documents, often leading homeowners to believe these institutions are actively managing their loans and directly pulling the strings in the foreclosure process. But here’s the truth: *They’re not*.
We have been using a US Bank Trust Department marketing brochure for years that makes their role as a loan trustee or a mortgage-backed security trustee (the word trustee has many meaning in foreclosures. This confuses Borrowers and it is intentional. But, the marketing brochure put out by the US Bank Trust Department makes what "CAN'T HAPPEN" crystal clear. It’s like hearing from the horse’s mouth that the supposed power these trustees hold over your mortgage is largely a facade. This document exposes a shocking reality that many homeowners – and even their attorneys – don’t fully understand. Let’s break it down.
In U.S. Bank’s own words, as a trustee for Mortgage-Backed Securities (MBS), they perform a narrow set of duties:
– They hold an interest in mortgage loans for the benefit of investors.
– They collect payments from the servicer and distribute them to the investors.
– They do not initiate foreclosures.
– They do not manage or maintain properties in foreclosure.
– They do not approve loan modifications.
– They do not oversee or direct the actions of mortgage servicers.
So, what does this mean for homeowners fighting foreclosure? U.S. Bank's Trustees (and Trustees Like Them) Will Always Lack Standing to Foreclose. It is not the Borrower's burden to try to prove the foreclosure attempt is fraudulent. That is the terrible misunderstanding that all of us have been under since the very beginning.
The Borrower's only burden is to deny that they are in default with anyone trying to clollect money from them by foreclosing.
"When they call the roll in the Senate, the Senators do not know whether to answer 'Present' or 'Not guilty.” Theodore Roosevelt
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by Danny Hammond of the 3/4 Court Press |
Everyone that calls me passed this part according to the rules given to them. Pay 3 month on time. Then the wickedness sets in. All sorts of "reasons" begin to be received by the Borrower regarding why their trial failed.
Most are absurd. Experences like telling the Borrower he did not pass the 3 months of payments, when he did.
Or the Borrower did not respond in the right amount of time.
Or the Borrower used the wrong means of notification to the (usually the Servicer), whatever that means at that moment. Or the Borrower used the wrong form, and the particularly nasty, your Servicer has changed and you must start over.
My client right now who we are about to file into state court, was told every one of these things above. She is stilled scared to death it is going to be a problem in the Lawsuit, or Petition as a lawsuit is called in Missouri. Read More
ACCOUNTING OF THE FORECLOSURE SALE PROCEEDS, CREDIT BID, AND; DEFICIENCY OR SURPLUS
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Hello. I have been working on one my own foreclosures. One of the problems I have run into is that I have too much good info to use. I thought back.
This Is Not Possible in Law or Magic
"The secret of life is honesty and fair dealing. If you can fake that, you've got it made."
Groucho Marx
This was a strange evening. I woke up in my recliner at 6 pm, only I thought it was 6 am. So I got up and had some breakfast, found out what my Ukrainian friends had accomplished, and began to read emails then I noticed it was 7 pm and I didn't now know, if it was the day before or the day after. Then I realized that I was asking myseslf that question but I didn't know what I meant by after.
But, it was about to get weirder.
The very first email I opened generated the following response from me. It had to do with an affidavit by a "not so much" expert witness. It seems the Fake Foreclosing Party had lost the mortgage (or deed of trust depends on where you live, Reader). The expert witness was asking for a new mortgage so that it could be assigned (wtf?) because the real mortgage had been lost.
If you have read anything here and retained it, then you know that you can't lose a mortgage and that the assignment of your security instrument (mortgage, deed of trust, security deed etc.) simply cannot be done. That it is not even that kind of a document. READ MORE
Would you like a free review of your loan docs?
“Court business is a hell of a problem. It’s a good deal like politics. It asks for the highest type of men and women, and there’s nothing in it to attract the highest type of men and women. So we have to work with what we get...”
Paraphrasing of ― Raymond Chandler, The Lady in the Lake
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Danny Hammond of The 3/4 Court Press |