Posts Tagged ‘Prevent Foreclosure’

New MERS Mortgage Settlement Impacts Borrowers Nationwide

Posted on: July 24th, 2012 by David Young No Comments

This Settlement will Impact Banks and Borrowers Nationwide

Perhaps the most convoluted and unresolved issue created by the mortgage meltdown concerns not mortgage rates or amortization, but the central question of who owns your mortgage and where it can be found.

The state of Delaware recently settled a lawsuit with Merscorp Holdings Inc., who operates the Mortgage Electronic Registration System (MERS). The agreement sparked a deal that is likely to spread nationwide.

MERS, according to the settlement agreement, was created to “to speed up and reduce the cost of the securitization process by bypassing county Recorders of Deeds offices throughout America. With little to no oversight of MERS’ practices, MERS did not meaningfully audit its records and failed to enforce its own rules governing members’ conduct. MERS was thus a key player contributing to the lack of transparency in the foreclosure tidal wave…”

In other words, one purpose of the system was to avoid the recordation fees required in most jurisdictions when a mortgage is bought or sold.

“Lenders save at least $25 for every new loan they register on the MERS System,” said MERS executive Carson Mullen in 2007. “Since the beginning, MERS has saved the mortgage industry over $1 billion in unnecessary costs.”


Under the settlement with Delaware Attorney General Beau Biden, MERS will now have to make a series of changes that will allow borrowers to identify their loan owner–an important matter when it comes to mortgage modifications and foreclosure.

Five Important Aaspects of the Settlement

The Delaware agreement outlines five major points:

  • #1 MERS members will be required to record mortgage assignments with the county Recorder of Deeds Office before a foreclosure can proceed
  • #2 MERS will not foreclose in its name for the next five years in Delaware. This reform may become permanent if the Delaware legislature approves
  • #3 MERS will create an online and toll-free system so that homeowners can easily see who owns and services their mortgage
  • #4 MERS records will be audited and errors will be fixed
  • #5 MERS will be required to annually examine documents “signed by employees of its 25 largest members to check the identity and authority of the person who signed the documents.” In other words, no more robo-signing

“Every homeowner should be able to find out who owns their mortgage, not just the company hired to collect payments,” Biden said. “The MERS System functioned to obscure this important information.”

The Biden agreement only applies to Delaware–but obviously it will become the model for all states because there is no reason why only borrowers in Delaware should know who owns their loans. The requirement to record transactions with local property record offices will make it easy to check title data as well as bring in cash to local governments–recordation fees that should always have been paid.

The only tragedy of the Biden agreement is that it was not in effect a decade ago. It would have gone a long way to preventing robo-signing, foreclosure delays and wrongful foreclosures–just a few results associated with the mortgage meltdown.

David Young

NOTE: We stress that we are neither lawyers, attorneys nor accountants and do not give legal nor accounting advice. We help home owners that have mortgage or foreclosure problems. When you are in foreclosure and going to lose your home if you do not take action or stuck with an underwater negative value home, we pull no punches helping you with mortgage Relief. E-Mail ASecretToMoney@gmail.com Address: David Allen Young, Sui Juris Private c/o United States Post Office 305 E. Yager Lane, Suite 423, Rural Route 78753 Austin, Texas Republic Non-Domestic WITHOUT THE UNITED STATES

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Bank of America, Syncora Settles Mortgage Fraud Lawsuit

Bank of America, Syncora Settles Mortgage Fraud Lawsuit

Posted on: July 24th, 2012 by David Young No Comments

Bank of America, Syncora is hit with a Mortgage Fraud Lawsuit by a homeowner and looses FACE!

reuters.com | July 16, 2012

By Karen Freifeld

Bank of America Corp (BAC.N) agreed to settle a lawsuit alleging that its unit Countrywide Financial fraudulently misrepresented mortgage-backed securities insured by Syncora Guarantee, sources close to the settlement said.

The terms of the settlement were not immediately available.

In a filing in state court in New York on Tuesday, Syncora Guarantee, a unit of Syncora Holdings Ltd (SYCRF.PK), said it had agreed to discontinue the lawsuit.

Syncora was among bond insurers, including MBIA Inc (MBI.N), that sued Bank of America over representations made by Countrywide, a mortgage lender bought by Bank of America in 2008.

Syncora Guarantee sued Countrywide and Bank of America in 2009 to recover losses on billions of dollars of home loans made by Countrywide. Syncora claimed it was duped into insuring the mortgage-backed securities, saying Countrywide misrepresented the underlying mortgages.

“Countrywide, consistent with its business practices at the time, systematically ignored its own underwriting guidelines and made imprudent loans that no reasonable underwriter would have made,” Syncora said in its complaint.

Donald Hawthorne, an attorney for Syncora, declined to comment on the filing.  Jonathan Rosenberg, an attorney for Bank of America, did not immediately return a call for comment.

The case is Syncora Guarantee Inc. v Countrywide Home Loans Inc.,  New York state Supreme Court, New York County, No. 650042/2009.

Editing by Eddie Evans and Carol Bishopric

David Young

NOTE: We stress that we are neither lawyers, attorneys nor accountants and do not give legal nor accounting advice. We help home owners that have mortgage or foreclosure problems. When you are in foreclosure and going to lose your home if you do not take action or stuck with an underwater negative value home, we pull no punches helping you with mortgage Relief. E-Mail ASecretToMoney@gmail.com Address: David Allen Young, Sui Juris Private c/o United States Post Office 305 E. Yager Lane, Suite 423, Rural Route 78753 Austin, Texas Republic Non-Domestic WITHOUT THE UNITED STATES

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Mortgage Procedure Terminates Home Mortgage Lien – Home Mortgage Process Education

Posted on: July 22nd, 2012 by David Young No Comments

Home Mortgage Relief Process

When you’ve experienced 2 or more of the first 22 steps of the home mortgage relief process below, your home mortgage is REMOVABLE by Home Mortgage Relief Process – Fraud Uncovered  Due To Lending Mortgage FRAUD:


1. Title Company or Closing Attorney hurriedly has you sign Promissory Note, Mortgage, Deed of Trust, etc. at closing without giving you time to read and understand what you are signing or initialing. [FRAUD]

2. No Notary Present to witness signature most of the time and is notarized later after you leave. [FRAUD]

3.
You get keys to your new house.

4.
2-3 days later Lender closes the 2nd time at a secret closing.

5. At 2nd closing Lender Stamps an Allonge without legal disclosure, your knowledge, or your consent. [FRAUD]

6.
Allonge says “Pay To The Order of, WITHOUT RECOURSE, to lender and is signed by your reported Lender Representative.” [FRAUD]

7. Lender changed the NOTE Into a Check by the allonge stamp and signature. Lender gets the first loan, FREE MONEY, from you to deposit into illegal bank account for the loan amount. [FRAUD]

8. You gave Lender the first LOAN as per your signed NOTE unknowingly, without legal disclosure, or your consent when Lender signed the allonge on your NOTE changing it into a check with the Pat To The Order Of statement. [FRAUD]

9. Copy of Note is created for Lender and Servicer future illegal endeavors and foreclosure.

10. Note never recorded against State and Federal law. [FRAUD]

11. Lender deposits your new Bank/Lender check loan (NOTE) into a bank account.

12.
Lender assets INCREASE by illegal NOTE amount and you are in mortgage debt. [FRAUD]

13.
Lender never lends you Lender’s money or Lender’s depositors’ money for your alleged loan. [FRAUD]

14.
Lender creates money from thin air by bookkeeping entries. [FRAUD]

15.
Lender gives your loan to them back to you as a loan from Lender without disclosure, your consent, or your knowledge to avoid paying income taxes. [FRAUD]

16.
You pay Principal Plus Interest on illegal loan. [FRAUD]

17. Lender gets 9 times your loan amount from U.S Treasury Department- Private Corporation before it goes into a Trust.

18. Lender writes a check from your new strawman account to pay off old mortgage and owner. [FRAUD]

19.
Days to 3 months later, Lender assigns sells, your illegal mortgage loan to another bank/Lender/Investor group.

20.
Assignments are not recorded against State Law. [FRAUD]

21. New owner or Lender sets up security Trust and securities your illegal mortgage loan including the Mortgage and Note.

22. You pay yourr Bank Servicer illegal principal and interest on an illegal loan, because they are just a Third Party Debt Collector under Federal Law. [FRAUD]

23. 4 scenarios to pay off your illegal mortgage:

1. YOU Pay 30 years on your illegal mortgaged home, because you think the bank actually loaned you money. [Your Passive [FRAUD]

2. YOU Sell the house and lose money in interest payments.

3. YOUR Home goes into foreclosure or short sale and YOU lose home and money you have already paid. [FRAUD]

4. YOU get illegal mortgage REMOVED & Own your Home FREE & CLEAR years earlier with help from Day Global, LLC. – Fraud Uncovered…

Read all about the Mortgage deception!

Don’t Delay Contact Day Global Today And Take Action!

In the near future, we will have associates that will do all the tedius paperwork for you in your State to assure your Satisfaction of Mortgage in 90 days or less. SO If YOU are interested in helping other home owners in your area and becoming one of our highly paid associates, please call the phone numbers below today.

Please call David 850-423-9728 today.

To do-it-yourself even if you are not in foreclosure, for just the Give Away Investment Price of  $4,000.00 and we will send you your Satisfaction of Mortgage package that has a 300% money back Satisfaction of Mortgage guarantee or $6,000 BACK if you do not get a Notarized Satisfaction of Mortgage document when you do and follow simple instructions! You must take action and complete all three phases for the Guarantee to take effect. Also INCLUDED in this Give-Away $4,000 package is the $2,000 Securitization Audit that is Litigation Ready!

The First Step In Becoming A Mortgage Education Associate Representative Is To Call (850) 423-9728 ..

We stress that we are not lawyers nor accountants and do not give legal nor accounting advice.
We are Mortgage and Foreclosure Educators and we can and do offer educational and legal information that works to get you a Satisfaction of Mortgage in less than 90 days and upheld in courts across the United States.

We accept the following forms of your Mortgage Education investment payment:

Invest as an Associate Representative to educate other home owners and earn Thousands within 120 days, now only $2,500, AND you can do your own home yourself for FREE!!!…

or as a client, today for only $2,000, investing in your own Home Mortgage Education so you can learn how to get a Satisfaction of Mortgage on the Public side of the Federal UCC Laws and State Laws on your home…

Receive a Securitization Audit on your home that proves Lender/Bank Fraud by separating your promissory note from your mortgage/deed of trust as soon as the Lender sold your Mortgage/Deed of Trust and your promissory Note, PNote, that was endorsed (Cashed) and the Lender/Bank got paid in full for your mortgage in case you are in foreclosure and the Servicer Bank wants to sue you or take your home illegally thru a fraudulent foreclosure for only $2,000.00.
Please enter quantity for the product you want, and you will be taken to a secured credit card terminal to make your investment.

If you need to make multiple payments, please call David at 850-826-1662

This Administrative Default process manual, letters, and forms are for educational purposes only. Follow this advice at your own risk. It has worked for other people in all States to get a Satisfaction of Mortgage or go online and search your State Laws yourself. All you need do is enter “Your State name and “Mortgage assignment statute”.

Always see a real estate attorney or a private attorney familiar with your state laws governing mortgages or contact the local bar association or the local Legal Aid or Legal Services office or other organizations such as Legal Counsel for the Elderly. You may also wish to contact your State Attorney General’s office or a local community protection agency.

To do it yourself for one home, even if you are not in foreclosure for only $3500.00 today and we will send you your Satisfaction of Mortgage Education Manual Package that has a 300% money back Satisfaction of Mortgage guarantee on the 3 phase process for $4500 when you read the manual, follow the easy steps, find a Notary tho help you with this proven education process, and TAKE ACTION!

When You Do-It-Yourself, Our Proven, Simple 3 Phase System may EASILY prevent your foreclosure and get you a Satisfaction of Mortgage for only $3500.00, including the Securitization Audit, limited time, was $8000.00! 

Contact Us Below To Get your Step-By-Step

Mortgage Manual Today!

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David Young

NOTE: We stress that we are neither lawyers, attorneys nor accountants and do not give legal nor accounting advice. We help home owners that have mortgage or foreclosure problems. When you are in foreclosure and going to lose your home if you do not take action or stuck with an underwater negative value home, we pull no punches helping you with mortgage Relief. E-Mail ASecretToMoney@gmail.com Address: David Allen Young, Sui Juris Private c/o United States Post Office 305 E. Yager Lane, Suite 423, Rural Route 78753 Austin, Texas Republic Non-Domestic WITHOUT THE UNITED STATES

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Related Articles:

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SAVE YOUR HOME FROM MORTGAGE FORECLOSURE NOW
New MERS Mortgage Settlement Impacts Borrowers Nationwide

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