So he looked over my paperwork and noticed I do not have a beneficiary on the trust deed filed with the county. It is just blank. He also went through my escrow instructions. According to the Debit / Credit columns, I own my house which say the property is paid off. I saw the promisary note but only my signature exists on the paperwork. There is no signature from a representative of the bank. Are they so big they do not have to sign anything? Did they commit fraud by not telling me who owns my house in a disclosure? As far as the title company is concerned, I own my house. As far as the bank is concerned, they own my house. According to law, whoever the beneficiary is, owns my house.
Deed of Trust legal definition of Deed of Trust. Deed of Trust synonyms by the Free Online Law Dictionary.
I am all about paying what I owe. What pisses me off is the fact they loaned money to me that I did not qualify to pay back. If I did qualify, why can't I refi to a fixed rate? Why won't they tell me who or what loaned the money to me? I have a feeling the banks made A LOT of mistakes pushing through all these loans. Pushing the appraisers to give a high value to property. Not filling out documents completely in an effort to "protect" their investors. Creative financing for people who were having trouble qualifying for conventional loans. Etc.
Eventhough I feel obligated to pay my debt, I also feel obligated to expose the wrongs of the banks and lenders who we were supposed to be able to trust since they were supposed to be the experts at lending money. Now the question remains - Do you act like the guilty person at a trial trying any way possible to get off on a technicality? Or do you just take the punishment you asked for not fully understanding what or how the lenders were being predatory?