Some Background Information:
When a homeowner borrows, he or she has a credit rating. That credit rating is looked into by the bank's risk management who then determine whether or not the borrower qualifies for a loan. Once a loan application is approved, a contract is made. The borrower believes he or she is signing a LEGAL contract that he or she thinks states that the borrower is borrowing money from the bank and is obligated to pay it back; principal with interest. In signing, most of us, including myself, trusted the bankers and lawyers to be working in our favor and we considered them honest. It was a long standing social contract that has been totally broken!
What really happens is totally opposite. At the conception at the initial contractual level is a bait and switch where the bank baits the homeowner into believing the bank is lending the homeowner money, when in fact the bank is not lending any money, but rather is extending to the homeowner THEIR MONEY or CREDIT, and charging interest!
Here is the Public banking Institute's ( PBI's) eminent domain approach to foreclosures, which includes the recent WA decision on MERS, described here by Ellen Brown, founder of the Public banking Institute and author of Web of Debt. http://truth-out.org/news/item/11045-real-remedies-for-the-foreclosure-crisis-exist-the-game-changing-implications-of-bain-v-mers
ADDENDUM #1: LETTER for obtaining MILESTONE REPORT:
Your Name
Your Address
Yours City, State, Zip Code
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