Over the past seven years I have researched various causes for the economic crisis we are in: the high rate of unemployment, increasing foreclosures, poverty, war, bankruptcies, LIBOR scandal, earth's resources being abused, and plutocracy. I have concluded that our current usurious, debt-based monetary system is wrought with dishonesty and fraud and has very little transparency. This calls for the need of honest banking regulations!
ALL the homeowners need to be reimbursed for the wealth that was created by them and deliberately stolen from them. This could eventually call for a Jubilee Act where all the mortgage debt is forgiven. Forget modification regulations!
Based on my research, here are the major bullet points that address the mortgage fraud, that render loans unenforceable!
- There was no consideration or anything of value on the part of the banks for the mortgage contract: See Montgomery vs. Daly here: http://discharge-debt.com/id52.htm and here: http://www.constitutionalconcepts.org/creditriver.htm The banks did not lend any money! The bank made no net equitable contribution, instead they loaned with interest a "creditor's" future ability to pay, collatorized by the "creditor's promise to pay! There is therefore no legal claim because the bank's only loss is to potential ill-gotten gains. This is the beginning of the fictitious consideration. This is where the true fraud begins. (More details in the section called Background Information.) Since there is no real contract it must be considered". a gift". A gift to the homeowner!
- A fictitious contract was signed by the unsuspecting homeowner. The contract is a forgery in ordinary legal sense in that it is "a document that tells a lie about itself." The contract is untrue before the signature because there were no real or actual value received by the purported borrower. (Addendum # 2 fully explains the false document.)
- The Contract was not mutual. The bank did not disclose ALL the information, the true nature of the deal, necessary for the homeowner to make a well-informed decision.
- The loan/s are mathematically impossible to perform, someone HAS TO go bankrupt or foreclose because of usury: the interest on the loan is not created. This makes the contract civilly void and unenforceable.
- The loan is NOT signed by the bank. A contract is not complete without the signature of both parties. There is no "meeting of the minds."
- The "true lender" who didn't actually lend anything, was never disclosed. The investment money that buys the fictitious note created by the banks really comes from financial institutions across the globe, Wall Street firms and the largest of the banks that buy the illegal loans and securitize them to unsuspecting investors!
- The homeowner was never told they are REALLY the creditor since his/her signature created the "NEW" money in the monetary system. The TRUE reality is that the homeowner is the duly-qualified note issuer and possesses the initial legal and equitable title to his/her home through his/her promise to pay a bona fide creditor, which in the current case is him/herself, since the homeowner created the moneys through his/her future ability to pay.
- Entities entering an illegal contract render the contract moot. Since there was no real contract the home should go to the occupier, the current "homeowner".
- No lawful or binding assignments of the notes and mortgages ever took place.
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