Homeowners only have to look at the fraud committed in their original mortgage to see the fraud

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Homeowners already own their own home because of illegal contracts

The following points summarize the fraud, followed by more in-depth explanations:

o The homeowner already owns his/her own home because the initial mortgage contract was induced by fraud.

o The homeowner may NOT be liable for payment of the signed mortgage under a suit of equity for a Note where fraud has been exercised against the Note.

o Foreclosing entities have lost the power of sale within the security instrument and the right to enforce the Note.

o Unwary homeowners were seduced into fraudulent mortgage contracts.

o Due to the complexity of the fraud, most of the judiciary has failed to understand and apply statutory law correctly.

o Contracts with homeowners containing fraud, especially those mortgage contracts written since 1999, are void as a matter of law AND the banks or any foreclosing entities do not have any equitable recourse.

In other words, neither the banks nor the foreclosing entities have any legal authority to foreclose nor have they been harmed by any monetary loss. In fact, the banks and other pretend lenders have benefited unjustly! EVERY transaction can be found in the MERS Milestones Reports through discovery to show the enrichment! (See Application Letter in Addendum #1.)

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.

 

• Loans were securitized illegally. Securitization means that a loan, a negotiable security, was changed into stock. Think of your loan as a carrot turning into carrot juice!

 

There are many other points that address the mortgage fraud, available upon request.

Banks, in my opinion, are merely accounting firms and should/could be paid a fee for making the transactions of physical credit, namely the vendor's house to the buyer's home!   They should not be charging the ever increasing simple or compounding interest they charge now. This is usury, which has been used to create the criminal fraud, deception and illegalities: as foreclosure deception on the personal level, forged documents submitted to the court on the state level, and securities fraud on the federal level!

Have the banks fess up to their illegal acts, their unjust enrichment and have the legislators pass laws to forgive all the mortgages see here: House 1193: http://www.malegislature.gov/Bills/187/House/H01193   to free up a ton of money for the economy!

 

After all, the aggregate homeowners/borrowers are just trying to get back something that they never ceased to own in the first place.

The U.S. government (or even a Massachusetts Public Bank, see here: http://www.malegislature.gov/Bills/187/House/H01192 can protect the market players by guaranteeing the deposits of the aggregate vendors who brought the real physical credit to the transactions. The aggregate deposits, so guaranteed, destroy the necessity for the objectively illegal and illegally obtained debt, which can then be destroyed by the act of recognizing its illegality and inequity. Of course, another way is for total debt forgiveness. Take your pick!

Call me or e-mail with your comments.

David Snieckus

99 Crescent Street

Newton , MA 02466

617-964-2951

 

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

DATE

Servicer's Name

Servicer's Address    TILA and Payoff Request 131(f)

Servicer's City, State, Zip Code

CERTIFIED MAIL RETURN RECEIPT REQUESTED

Re:   BORROWER'S NAME

Address of Property Encumbered by Mortgage

Transaction Dated:   (Date of Note & Mortgage)

Originating Lender:   (Lender Named on Note)

Current Servicer:   (Refer to Monthly Mortgage Statement)

Servicing Account Number:   (Refer to Monthly Mortgage Statement)

Dear Madam or Sir:

In accordance with RESPA and Section 131(f) of the Truth-in-Lending Act, 15 U.S.C. Section 1641(f)(2), please provide me with the name, address, and telephone number of the current owner of the promissory Note and Mortgage referenced above.

This is also a request for a Payoff Statement under the Truth-in-Lending Act.

If my loan has been registered with Mortgage Electronic Registration Systems, Inc., please also provide me with a MERS Summary, also known as a MERS Milestone Report, showing the complete chain of title to my property.

Be advised that you must acknowledge receipt of this request within five (5) business days; respond to the payoff request within seven (7) days; and respond truthfully with the identity of the legal owner and holder of my Note and Mortgage within thirty (30) business days, pursuant to 12 U.S.C. Section 2605(e)(1)(A) as amended effective July 16, 2010 by the Dodd-Frank Financial Reform Act and Reg. X Section 3500.21(e)(1).

Thanking you in advance, I am

Very truly yours,

_______________________________

Type your Name

Authors Bio:

100 word BIOGRAPHY for David Snieckus September, 2010

David Snieckus is a graduate of the world renowned Kushi Institute and has been practicing macrobiotics since 1977. Currently Mr. Snieckus is a Macrobiotic Counselor, Coach and Chef who resides in Newton. MA. For over 36 years David has been helping individuals change their diets and improve their lives. David is an experienced, entertaining and engaging speaker. His passion is to share his knowledge and experience and invoke self-awareness in others so that they may experience optimum health and well-being.

For more information on Macrobiotic Counseling, Coaching, Cooking Classes, Catering Services, (including for retreats), Community Dinners and Brunches, and "David's Take-Out" contact David at (617) 964-2951 or visit his website: www.davidsnieckus.com