“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)
3rd president of US (1743 - 1826) These are the words from one of the most influential presidents to ever serve “our country” in the White House and one of the authors of the declaration of independence.
From wikipedia;It’s not as if these words came from some crazy full of conspiracy theories. No! These are the words from what I feel, the best president ever, and one of the founding fathers of this great country.
Can it be true, that two centuries later, that which Jefferson feared, the banks controlling the American people, is finally taking place?
More from Thomas Jefferson;
“The art and mystery of banks… is established on the principle that ‘private debts are a public blessing.’ That the evidences of those private debts, called bank notes, become active capital, and aliment the whole commerce, manufactures, and agriculture of the United States. Here are a set of people, for instance, who have bestowed on us the great blessing of running in our debt about two hundred millions of dollars, without our knowing who they are, where they are, or what property they have to pay this debt when called on; nay, who have made us so sensible of the blessings of letting them run in our debt, that we have exempted them by law from the repayment of these debts beyond a give proportion (generally estimated at one-third). And to fill up the measure of blessing, instead of paying, they receive an interest on what they owe from those to whom they owe; for all the notes, or evidences of what they owe, which we see in circulation, have been lent to somebody on an interest which is levied again on us through the medium of commerce. And they are so ready still to deal out their liberalities to us, that they are now willing to let themselves run in our debt ninety millions more, on our paying them the same premium of six or eight per cent interest, and on the same legal exemption from the repayment of more than thirty millions of the debt, when it shall be called for.” –Thomas Jefferson to John W. Eppes, 1813. ME 13:420Please reread this Jefferson quote and please take the time to think about what he is saying. “Here are a set of people, for instance, who have bestowed on us the great blessing of running in our debt about two hundred millions of dollars, without our knowing who they are, where they are, or what property they have to pay this debt when called on.”
The facts are that millions of homeowners are facing foreclosure and out of these millions of people, very few ever contest their foreclosure, let alone show up in court. Many people think that since their lender is foreclosing on them, they owe the money and the bank should to take their home. “Private debt is a public blessing”, right?
But what if you found out that the entity trying to foreclose on you, in fact did not own your mortgage and when you challenge to see if they do in fact own the mortgage, you discover, that they can’t “prove” that they do in fact own the mortgage “legally” by producing the original note that you signed? What if they were acting on a perceived natural right to take outright ownership of your home? Do you think that you should let them?
Attorneys are expensive and many require an up front retainer for thousands of dollars and then they take 35-40% of whatever the settlement is. Many people simply do not have that kind of money and they feel there is no way that they can represent themselves pro se or pro per in a foreclosure action.
The facts are you can contest your foreclosure, if you have the tools and knowledge where you can represent yourself and either significantly prolong your time in your home or quite possibly win what might possibly be an unlawful foreclosure action.
Friends, we are at a point where it is becoming obvious that the out-of-control private debt is becoming a public hazard. How many tent cities need to spring up around the country before this is realized? Jefferson was right, and the banking system uses the red herring argument of “prodigal borrowers” to deflect attention from their own prodigal ways.
Think about the gentleman from Ohio, Richard Davet , who had fought Bank of America for 11 years all by himself against a 6 man lawyer team from a high power law firm. 11 years!
The mortgage company that filed the suit
, then NationsBanc Mortgage Corp., had so much trouble with the case that four years into it they brought in lawyers from Jones Day
Such a problem can occur when mortgages are turned into securities and sold to investors. The companies involved in the transaction may not have checked that each mortgage was legally transferred, or “assigned,” to the new owners. In essence, the originating lender continued to legally own the mortgage — and would thus need to be the plaintiff in a foreclosure suit. In Mr. Davet’s case, however, the mortgage, which was not securitized, changed hands multiple times and wasn’t actually owned by NationsBanc until three years after the company filed suit.
Other judges have since followed Judge Boyko’s lead. The Ohio attorney general has asked numerous judges to dismiss or delay foreclosures based on similar grounds.Why were they having so much trouble with this one man army form Ohio? Was it because he was so smart that he should have been a rocket scientist or was it because he had the guts to fight back against these guys and make them prove they had the right to take his home?
What about Joseph Lents from Florida. He has been fighting Washington Mutual for 5 years from what he believes to be a 100% unlawful foreclosure action;
If car dealers can keep track of titles, banks can track promissory notes, Joseph Lents says.
Somebody has been trying to foreclose on Joseph Lents’ Boca Raton home for five years. So far, they have been unsuccessful because he has legally fought them every step of the way.
The original lender, or the assignee, seems unable to produce the promissory note and prove it has the right to foreclose. In an era when Wall Street has sliced and diced mortgages to package them as securities, that could turn into a broader issue.
“I probably have been to the Palm Beach County courthouse 100 times or more over the last five years, just to observe,” Lents said. “In 99 percent of the residential foreclosure cases, plaintiffs are asking the court to accept a promissory note copy as the original because it is presumed lost.”I spoke with both Richard Davet and Joseph Lents this past Sunday and let me tell you, these are two gentleman that I have a tremendous amount of respect for and would consider them heroes in my book.
Think about what Mt. Lents has said here. ““In 99 percent of the residential foreclosure cases, plaintiffs are asking the court to accept a promissory note copy as the original because it is presumed lost.”
When I spoke to Mr. Lents, he said that he regularly goes to court to just watch the foreclosure proceedings to see what’s going on. Almost 100% of the time they do not have the original note and the homeowner does not contesting this. He even said the judges know this, yet, when the defendant does not appear for a hearing, then they have to award a default judgement to the plaintiff (the bank). This is blatant railroading by the banks.
So it’s not as if the banks usually win by proving beyond a reasonable doubt that they do in fact own the mortgage and have the right to foreclose. No–they win by default because the other party (the homeowner) didn’t even bother showing up to court, let alone file a simple defense.
Is something terribly wrong here? You bet, and these two guys were smart enough to realize that their foreclosure action was illegal.
Hell, they know they owe the money. But as Mr. Joseph Lents told me on a Sunday afternoon, “Moe, I know I owe the money and I told the judge this, but I also told him that I don’t think I owe it to them (Bank of America) and since they cannot prove they have the right to foreclose on my home, why should I let them take my house? They agreed to settle, I make great money, this is not about money now, it’s about principle and they do not have the right to do what they are doing. So, I will fight.”
Now, those are words from a true patriot and a man that is fighting for his rights!
What about the honorable Judge Boyko;
Apparently Deutsche bank submitted several affidavits that claim that Deutsche was in fact the owner of the mortgage note, but none of these affidavits mention assignment or trust or successor interest.
Thus, the Judge ruled that in every instance, these submissions create a “conflict” and they “do not satisfy” the burden of demonstrating at the time of filing the complaint, that Deutsche Bank was in fact the “legal” note holder.
How about the honorable Judge Rose?;
“This court is well aware that entities who hold valid notes are entitled to receive timely payments in accordance with the notes. And, if they do not receive timely payments, the entities have the right to seek foreclosure on the accompanying mortgages.
However, with regard the enforcement of standing and other jurisdictional requirements pertaining to foreclosure actions, this court is in full agreement with Judge Christopher A Boyko for the Northern District of Ohio who recently stressed, ‘That the judicial integrity of the United States District Court is ‘Priceless.”
Hamilton County Common Pleas Judge Steven E. Martin said in a letter to Wells Fargo’s lawyer.
The foreclosure lawsuit was filed before Wells Fargo owned the mortgage - thus, the suit was premature.
Ohio State District Judge Kathleen Mc Donald O’Malley dismissed 32 more foreclosures for lack of “documentation”. Read the ruling /files/89778-78388/Deutsche_Bank_Foreclosure_Ruling.pdf”>Deutsche Ruling.
Martin then ordered the Wells Fargo law firm, The Law Offices of John D. Clunk
, that the law firm must file proof that its clients actually own the mortgages before filing any new foreclosure actions in Hamilton County
April Charney a legal aid lawyer and foreclosure defense pioneer recently said to us;
This court order is what I have been saying in my cases. This is rampant fraud on every court in America or nonjudicial foreclosure fraud where the securitized trusts are filing foreclosures when they never own/hold the mortgage loan at the commencement of the foreclosure.
That means that the loans are clearly in default at the time of any eventual transfer of the ownership of the mortgage loans to the trusts. This means that the loans are being held by the originating lenders after the alleged “sale” to the trust despite what it says per the pooling and servicing agreements and despite what the securities laws require.
This also means that many securitized trusts don’t really, legally own these bad loans.
In my cases, many of the trusts try to argue equitable assignment that predates the filing of the foreclosure, but a securitized trust cannot take an equitable assignment of a mortgage loan. It also means that the securitized trusts own nothing.These cases and recent rulings are by no means coincidence, but an emerging trend of illegal foreclosure actions, fraud on the courts and fraud on the American people.
Will the American people make a stand against these lenders and servicers that are slowly and deliberately taking our homes from us? Or will we continue to do just what they expect and want us to do (and what we have been doing for the past year): nothing, as over 1 million people (Americans) have suffered silently and fallen into foreclosure without raising a simple defense or even showing up to their court hearing.
What if the American homeowner started fighting back?
1,000… 10,000… 100,000 homeowners, all going to court to make these banks prove that they have the right to foreclose and prove that these mortgages they sold consumers are in fact legal. It would make a HUGE difference. Could we overwhelm these deep pocketed lenders with a grass roots effort to fight every one of these foreclosures?
I think we can, but it will take tens of thousands of people to join the fight.
Why should you take up the fight?
These lenders have sold you what is essentially a defective credit instrument. Snake oil or fools gold. Now, they are ruining your life by destroying your credit and taking your home as the result of a shady loan they sold you in the first place!
- How do you know if your foreclosure is valid or even legal, if you never show up in court or answer your lenders complaint?
- What if you could buy time? 1 year, 2 years to work out your mortgage and maybe settle to terms that are favorable for you?
- What if you could live payment free for quite sometime by just filing motions and answers you have a right to?
- Is your mortgage lawful? What if there were Truth in Lending Act and RESPA violations and you could use these violations to negotiate a loan workout or loan modification?
They made thousands of dollars from you and now they are done with you. So, now your’re kicked to the curb and called a “deadbeat” or “freeloader.”
This is theft and if you do not see that, well, then, let them take your home and be like the other million people who did nothing (just like the banks want) and left their homes. Now, these banks are owning more and more real estate, on top of everything else.
All the while their CEO’s cash in hundreds of millions of dollars as people go homeless. And to top it off, instead of homeowners getting help, these lenders get billions of dollars in bail out money from the Government, other banking institutions and now, powerful foreign investors are buying stakes in these institutions to keep them afloat.
So soon it will be foreign banks and individuals controlling the American people, a twist I do not think Mr. Jefferson envisioned in his writings.
We need to start a revolution against these banks and fight back for our rights.
Can a man like Thomas Jefferson, a founding father of our country and author of our constitution be wrong about the banks and their intentions? Was he just some wacko conspiracy theorist, or a man that wasn’t afraid to tell the truth and stand up against the powerful banks that threatened then and now rule of our nation?
I’ll end this from some more words TJ:
“Everything predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper. It is cruel that such revolutions in private fortunes should be at the mercy of avaricious adventurers, who, instead of employing their capital, if any they have, in manufactures, commerce, and other useful pursuits, make it an instrument to burden all the interchanges of property with their swindling profits, profits which are the price of no useful industry of theirs.” –Thomas Jefferson to Thomas Cooper, 1814. ME 14:61
“Certainly no nation ever before abandoned to the avarice and jugglings of private individuals to regulate according to their own interests, the quantum of circulating medium for the nation — to inflate, by deluges of paper, the nominal prices of property, and then to buy up that property at 1s. in the pound, having first withdrawn the floating medium which might endanger a competition in purchase. Yet this is what has been done, and will be done, unless stayed by the protecting hand of the legislature. The evil has been produced by the error of their sanction of this ruinous machinery of banks; and justice, wisdom, duty, all require that they should interpose and arrest it before the schemes of plunder and spoilation desolate the country.” –Thomas Jefferson to William C. Rives, 1819. ME 15:232