Mortgage Settlement Is Not The Same As Mortgage Foreclosure Settlement

As you can now see, a Mortgage settlement is not the same as mortgage foreclosure settlement. There are great differences.

A simple mortgage settlement is where you get either your interest rate and/or your principal reduced by a government program. A mortgage foreclosure settlement is when you prove the bank's fraud in court and you settle for a reduced payment, reduced interest rate, and/or a principal reduction, because you think or your attorney has advised you to take what is offered to you by the bank. Your unknowledgeable attorney may not know that you can get your whole mortgage and note release that grants you your home or commercial property free and clear.

Why is there a difference in attorneys for a foreclosure settlement?
Is the regular mortgage settlement the same as a loan modification?
How can I get a true mortgage settlement whether I am in foreclosure or not?

The difference is that your attorney in a mortgage foreclosure settlement may not know the U.C.C or State laws; lacks the proper, factual evidence required; or does not know how or what to argue in front of the judge to obtain the release or cancellation of your mortgage contract and note. Also an attorney is an officer of the court, just like a judge is and both work for the banks' bankruptcy of the United States corporation. Their oaths of office proves this fact. The attorneys are afraid of the judges, because the judge can have the attorney disbarred from the State bar corporation and could no longer practice law. Also, no plaintiff's bank, investor, lender, or trustee attorney can admit evidence into the court once the foreclosure law suit has been filed within 15 days of the first hearing. He is either an attorney or a witness and CANNOT be both under court ruling. Under Article XI of the Constitution FOR the united States of America, the Attorneys are considered FOREIGN AGENTS under the FOREIGN AGENTS REGISTRATION ACT (FARA) and are SUBJECTS of the BAR ASSOCIATION Corporation.

Yes! The regular mortgage settlement is the same thing as a loan modification from a bank, your servicer, who does not have the proper or lawful authority to grant you a mod as in 99.9% of all government programs out there. Also the 49 States attorneys general made it so that they gave the banks a license to steal your home built right into the $29 million dollar settlement that was supposed to help us homeowners, but does not. This is why the government and others are suing the 5 major banks that you read about.

You can get a true mortgage settlement whether you are in foreclosure or not.
Even if you have been already foreclosed and the bank has stolen your property through wrongful foreclosure, by gathering proper evidence that proves the laws being broken and the fraud by the unethical and dirty banks. This should start with an administrative process to exhaust administrative remedies under the four corners of court pleading and the clean hands theory of law. Secondly, you should get a securitization audit that proves the intent of the banks to break the law through improper bank securitization and broken chains of title. A good fraud audit is also helpful, because the fraud audit states the specific State law that has been broken and the fraud that has been presented into the court by the dirty banks. Most home owners want to pay off your mortgage, but your mortgage has already been paid off several times without your knowledge. This evidence can prove this fact. You must use all the evidence that you can get, but make sure that the evidence is fact and will hold up in court and your attorney knows the law and is not afraid to argue your case in front of the judge.

As mentioned in this article, you should have the proper evidence and now there is a company that gives you the evidence you need to win against the banks to get your home or property mortgage and note free. This company has now helped more than 300 homeowners and commercial property owners and may can help you too.

This Mortgage lien release and removal company provides the proper, factual evidence with an expert witness, if needed, and fraud audit that proves bank fraud that helps home owners and commercial property owners in every State fight the bank to win, almost always resulting in a mortgage lien release and loan removal to stop foreclosure fast. To learn how we can help you win against the dirty foreclosing banks, Contact Us or Call 850-826-1662 for a FREE Mortgage Removal Consultation.

What Is Foreclosure And Can I Get A Mortgage After Foreclosure?

Getting a mortgage after foreclosure depends on several factors.

What is Foreclosure? A mortgage foreclosure is where a homeowner or commercial property owner is deprived of the right to redeem his or her property after being unable to make principal and/or interest payments on his or her mortgage or otherwise fails to fulfill any of the obligations set forth in the mortgage agreement. The lender or bank can enforces its rights through a foreclosure. In this way the lender, be it a bank, Home Owner Association, or building society, can seize and sell the mortgaged property as stipulated in the terms of the mortgage contract using the procees of the sale to repay debt. The foreclosure action is the actual filing of and carrying through of the foreclosure process.

Getting a mortgage after foreclosure depends on several factors. Some of these are:

1. Length of time after foreclosure to get another mortgage after foreclosure.

2. Your credit rating would effect a mortgage after foreclosure.

3. The amount of your down payment for a mortgage after foreclosure must be at least 20% to 30%

4. Your ability to repay the mortgage loan or financial stability

The length of time after foreclosure to get another mortgage after foreclosure is usually about 7 to 8 years before you can buy another home. This is, because the foreclosure and bad credit entries stay on your credit reports for the full 7 or 8 years. Foreclosure is far worse than bankruptcy, because after 2 years of good credit after a bankruptcy, you would be able to buy a home again.

Your credit rating would affect a mortgage after foreclosure and must be over 700 in order to get a credit card or a mortgage. 800 plus would be ideal. With this kind of credit rating, you may still have to have 20% to 30% down payment to purchase a home with a mortgage, because of your past foreclosure or short sale which is the same thing. You defaulted on your payments, or did you? You really paid for your mortgage at you're closing with your signature and good credit rating. When your lender sold your mortgage and note at the second lender closing into a trust, your loan was paid for again with an allonge that was stamped on your note.

Allonge is a separate document or stamp used to demonstrate transfer of ownership of promissory notes, by endorsement. As per your note, any endorser is responsible for repayment of the alleged loan.

As stated, the amount of your down payment for a mortgage after foreclosure must be at least 20% to 30% to show the bank that you are serious about making your monthly payments. But things could and would possibly change if you were to loose your job, fall ill, or die. This would hinder your ability to pay and would result in another foreclosure.

Your ability to repay another mortgage after foreclosure depends on your financial stability. If you are an older person, your financial stability would not be considered very good by the banks or lenders of a mortgage loan.

As you can see, when the lender sold your note and mortgage contract, our loan was paid in full and foreclosure was wrongful and you should not be in a predicament of getting another mortgage after foreclosure.

What is a foreclosure? This occurs when a bank robs your home or property by claiming that you are behind on your payments as promised by your note and mortgage. Obtaining a mortgage after foreclosure is very hard. This is why you must fight to keep your home from wrongful foreclosure.

There is a company that provides the proper evidence with an expert witness if needed that helps home owners and commercial property owners in every State fight the bank foreclosure to almost always win, resulting in a mortgage lien release and loan removal to stop foreclosure fast.

Visit Us when you are ready to fight the dirty banks and win! Contact Us Today!

Mortgage Settlement Checks - Mortgage Debt Payments

Mortgage Settlement Checks

There are two kinds of mortgage settlement checks that you can pay off your home or commercial mortgage debt besides the bank check, cash, money, or federal reserve note that your banks asks for.

Most people and the bank employees think that you need money to pay off your mortgage whether it be on your home or commercial property, but the international, corporate banks' CFO knows that this is simply not true. You can pay the bank mortgage loan debt in full in two other ways due to the debt law past in 1933 by then President T. Roosevelt. These are:

1. The International Bill of Exchange, IBE, used as a mortgage settlement check, but sometimes not accepted by your bank, servicer, lender, trustee, or investor, but are legal and binding.

2. The International Promissory Note, IPN, also used as a mortgage settlement check, which are legal tender under the United Nations, UCC, and United States law.

3. Where can you get the mortgage settlement checks known as the International Promissory Note to settle a commercial property or home mortgage debt.

The International Bill of Exchange is used mostly outside the United States of America, but do fall under the United Nations as a mortgage settlement check to pay off any mortgage debt within the United States according to Federal Laws, but let us concentrate on the International Promissory Note that has the same force as a Federal Reserve Note that you carry around in your purse or wallet representing money, but is nothing more than a debt instrument. It also has the same affect as a Bank check, cashier check, money order, or money.

The International Promissory Note, IPN, for mortgage debt payments, is also known as a Banker Acceptance Note, and is the same method of payment as the Federal Reserve Note in that, "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE" authorized by the UNITED NATIONS, (UNCITRAL Convention), Federal Government, UCC, United States Laws, and World Law. The IPN is not just a promissory note that some banks may not accept where you list the U S Treasury Head as the payer of your debt. You as a Private Banker, Financial Institution, and Financial Agency under 31 U.S.C. § 5312 can use the IPN as legal tender as a mortgage settlement check to pay off your home mortgage lien or commercial lien for mortgage debt payments in full? The International Promissory Note is drawn in particular to the United Nations (UNCITRAL) Convention on International Bills of Exchange and International Promissory Notes, Articles 2-10, 12, 13, 36, 39, 46, 47, and 55. The IPN constitutes Makers (YOU) UNCONDITIONAL PROMISE to pay ON DEMAND / AT SIGHT. This Instrument is redeemable in lawful currency of exchange in accordance with 12 U.S.C. § 411.

Under (U.C.C. § 3-311) F.S § 673.3111, The IPN Instrument can be tendered in full satisfaction of the claim regarding the alleged mortgage debt payments. The BANKER'S ACCEPTANCE Note, IPN, presented by you for a special deposit is a statutory legal tender obligation of THE UNITED STATES and is in accordance with "Public Policy" established in HJR-192 of June 5, 1933, Chapter 48, 48 Stat. 112-113, Public Law 73-10, US Supreme Court case Guaranty Trust Company of New York vs. Henwood et al., 307 U.S. 247 (FN3), 31 U.S.C. § 5118 (d) (2) and in accordance with 31 U.S.C. § 5103 and 18 USC § 8, such instruments are "national bank currency" and thereby 'coin or currency of the United States' by statutory definition. If a bank refuses a properly rendered instrument, IPN, the debt is discharged pursuant to (U.C.C. § 3-603(b)), F.S. §673.6031 and all other State's debt discharge statutes.

You can get the mortgage settlement checks known as the International Promissory Note to settle your commercial property or home mortgage debt payments below. The IPN is different from the Promissory Note or Bill of Exchange in that the IPN is accepted by the bank CFO as the legal tender that it truly is since 1933.

Along with the IPN for a mortgage settlement check to pay off any commercial property or home mortgage debt, this company gives you the UCC1 and UCC3, Affidavit with vital statutes and laws, and the IPN in a check form on security check paper so there is no mistake that it is legal tender of payment in full of your mortgage debt.

This is the same mortgage lien release company that has helped over 200 homeowners and commercial property owners get their home and properties free and clear of the mortgage lien debt under mortgage foreclosure fraud. They can be found at www.1RealEstateHomes.com when you are ready to pay off the dirty banks and have no more mortgage to contend with!

Monitor Checking Into Violations of Banks National Mortgage Settlement

National Mortgage Settlement Monitor Checking Into Violations of Banks

Give Us a call Today at 850-826-1662 and Learn How to Get rid of your Home Mortgage

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Home Foreclosure of a Second Mortgage

Home foreclosure of a first or second mortgage almost always contain fraud under Federal Uniform Commercial Code of law and State statutes.

If you have a first or second mortgage on your home or commercial property? It could be foreclosed on if you are behind on payments. Did you know that your second mortgage could face home foreclosure or commercial property foreclosure also without the first mortgage being foreclosed on? This could happen very easily if you get behind on your second mortgage loan payments on the same property.

1. What is a Second Mortgage?

2. Is a HELOC considered a second mortgage?

3. Can a second mortgage be in home foreclosure?

4. Can a second mortgage lien be released along with the first mortgage in court?

5. What actions should I take to save my home or commercial property?

A second mortgage is a subordinate mortgage secured loan recorded on real property after the first mortgage that allows the homeowner to use their home equity to generate need cash. A second mortgage is usually kept in-house, meaning that the lender does not sell them into the secondary market as they do the first mortgage. Also, the interest rate charged for the second mortgage is a lot higher and the amount borrowed is lower than for the first mortgage amount. Second mortgages can take many forms and designs.

A Home Equity Lines of Credit (HELOC) is a particular form of a Second Mortgage and usually an interest only loan. In an interest only loan the borrower pays only the interest, leaving the entire amount of the principal owed. The interest rate can reach up to a 14% rate making this second mortgage loan very costly. A HELOC can be paid off many times to a zero balance and the home owner can borrow against the HELOC until he/she/they decide to eliminate the loan and discharge the lien when a zero balance occurs. The HELOC only lasts a year or two years in duration with most Lenders.

A second mortgage can and have been in home foreclosure. This home foreclosure of a second mortgage occurs when a borrower falls behind on payments. When this happens the lender can foreclosure and get the property or home much cheaper and should wipe out the first mortgage, but in many cased, the first mortgage lender can come after you for the first mortgage amount owed. It is best not to fall behind on any mortgage loan.

The second mortgage lien can be released along with the first mortgage lien in court by what is called a quiet title law suit where the home owner sues the lenders, bank servicer, investor, trust, trustee, and all other entity that claims to hold an interest in the home or property. In your county circuit court, the judge hears all the evidence and decides whether he or she wants to sign a final order to release the mortgage lien(s). After the judge signs the mortgage lien release order, it is recorded and the homeowner has no more mortgage or foreclosure pending. This final order is also sent to the 4 major credit bureaus and all the foreclosure and mortgage information is erased from your credit reports permanently. Before a home owner can do a quiet title law suit, permissible evidence must be gathered.

The actions you must take to save your home or commercial property is to make sure you have the proper and legal evidence against the lender and banks. This evidence includes:

(1) an administrative process that proves that the servicing bank does have the original note and mortgage and that they are only a third party debt collector under State and Federal laws;

(2) a securitization audit/analysis that proves the fraud committed, the separation of the note and mortgage, the improper chain of title where the lender and banks do not follow their own rules and regulations in their own Pooling and Servicing Agreement, PSA; and

(3) a quite title law suit with a knowledgeable attorney in bank securitization and UCC laws. With these three steps completed, the home owner or commercial property owner should be mortgage lien free with no more first or second mortgage lien.

Home foreclosure of a first or second mortgage almost always contain fraud under Federal Uniform Commercial Code of law and State statutes.

There is a web site that provides the proper evidence with an expert witness and helps home owners and commercial property owners in every State fight the bank foreclosure and win your quiet title law suit almost always, resulting in a first or second mortgage lien release and loan removal and stop home foreclosure on the average of 7 months. To learn how we can help you win against the dirty foreclosing banks, please visit www.1RealEstateHomes.com now.

Bank of America and Wells Fargo Face Suits in Mortgage Foreclosure Settlement

Bank of America and Wells Fargo Face Suits in Mortgage Settlement

New York's attorney general has said he plans to sue major lenders Bank of America and Wells Fargo for violating a $25bn (£16bn) mortgage settlement intended to end foreclosure abuses.

On Monday, Eric T. Schneiderman, New York’s attorney general and top prosecutor, said that the lenders violated the terms of the National Mortgage Settlement, a sweeping $26 billion pact brokered last year between five of the nation’s biggest banks and 49 state attorneys general. The agreement came during a national outcry over potentially widespread foreclosure abuses like shoddy paperwork, erroneous fees and wrongful evictions.

A total of five US lenders agreed the National Mortgage Settlement with authorities last year, designed to reshape lending practices following the collapse of the US housing market.

Mr. Schneiderman says that Bank of America and Wells Fargo did not follow guidelines dictating how the banks field and process requests from homeowners trying to modify their mortgages.

Under the terms of the settlement, banks have to abide by 304 servicing standards, like notifying homeowners of missing documents within five days of receiving a loan modification and providing borrowers with a single point of contact.

“Wells Fargo and Bank of America have flagrantly violated those obligations, putting hundreds of homeowners across New York at greater risk of foreclosure,” Mr. Schneiderman said. Since October 2012, Mr. Schneiderman’s office has documented 210 separate violations involving Wells Fargo and 129 involving Bank of America.

The move by Mr. Schneiderman is the first time that an attorney general has readied a lawsuit against one of the five participating banks on charges related to the settlement, which was aimed at halting the housing market’s downward slump and doling out relief to homeowners in foreclosure.

More attorneys general could follow Mr. Schneiderman’s lead. Last week, Martha Coakley, the Massachusetts attorney general, also sent a letter to Joseph A. Smith, the settlement monitor, outlining “recurring issues” with mortgage servicers, according to a copy of the letter reviewed by The New York Times. Among the problems she cited were “erroneous communications,” and servicing requirements that were “often ignored.” Ms. Coakley could pursue a lawsuit but hopes that the monitor will intervene to correct the problems, according to her office.

The settlement emerged from an investigation into mortgage servicing by all 50 state attorneys general that began in 2010 after revelations emerged that banks had churned through foreclosures using robosigned documents, legal paperwork that was seldom reviewed for accuracy.

After the deal was reached in February 2012, Mr. Schneiderman’s office began receiving a deluge of complaints from housing counselors across the state. The counselors, Mr. Schneiderman’s office said, reported that homeowners were still wading through a bureaucratic quagmire.

Mr. Schneiderman set the potential penalty in motion on Friday when he sent a letter to the settlement monitoring committee, outlining his plans to penalize the banks. “I am writing to inform you about a persistent pattern of noncompliance,” Mr. Schneiderman wrote, according to the letter. The committee has 21 days to decide whether to initiate a lawsuit, or whether Mr. Schneiderman will pursue the action alone.

Bank of America and Wells Fargo said on Monday that they would take steps to handle the issues raised.

“Through March we have provided relief for more than 10,000 New York homeowners through the National Mortgage Settlement, totaling more than $1 billion,” said Richard G. Simon, a spokesman for Bank of America. He noted that “Attorney General Schneiderman has referenced 129 customer servicing problems which we take seriously and will work quickly to address.”

Wells Fargo, which has helped 70,000 homeowners through the settlement, is “committed to full compliance with the National Mortgage Settlement and its associated standards,” according to Vickee J. Adams, a Wells Fargo spokeswoman. She added that “it is unfortunate that the New York attorney general has chosen this route rather than engage in a constructive dialogue through the established dispute resolution process.”

Michael Farnsworth, who fell behind on his mortgage after a spinal injury prevented him from working, is among the New York residents claiming that their mortgage paperwork was not handled properly. After submitting a loan modification application to Wells Fargo on Feb. 22, Mr. Farnsworth said he returned home on March 6 to find a note affixed to his farmhouse in Corfu, N.Y.

The note was ominous, he said: Mr. Farnsworth had 48 hours to resubmit many documents, including tax returns, or his loan modification would be scuttled. Under the mortgage settlement, though, Wells Fargo was required to notify Mr. Farnsworth about missing documents five days after he submitted a loan application and to then give him 30 days to submit any missing documentation.

Wells Fargo declined to comment on Mr. Farnsworth’s case, citing customer privacy, but said that the bank “is doing everything we can to assist customers so that they can stay in their homes if possible.”

The servicing standards were intended in part to address delays that can torpedo efforts to save a home. Before the settlement, housing counselors said that homeowners were ensnared in a bureaucratic maze when seeking foreclosure relief. Some borrowers were asked for the same document multiple times, while others were shuttled from one representative to another. As their applications for relief languished, housing counselors said, borrowers accrued fresh costs, like late fees and property taxes, that aggravated their distress.

“The price of this paperwork delay can be thousands of dollars for homeowners,” Vera Cedano, a foreclosure defense lawyer with Western New York Law Center. “It can mean the difference between saving a losing a home.”

Deonarine Nareen, a 52-year-old restaurant employee in Queens, had fallen behind on his mortgage as he petitioned Wells Fargo for a loan modification, according to court records. Since Wells Fargo began foreclosure proceedings against him in 2010, Mr. Nareen said he had tried to win a reduced monthly mortgage payment, but had been asked for documents numerous times.

In the latest chapter, Mr. Nareen said he applied for a loan modification on Feb. 19, so he was surprised when he received a brand new application for a loan modification from Wells Fargo in March.

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