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Like all of us, I was sorry to learn that Lies of Our Times could not be sustained. It's a real loss, and another signal that we have our work cut out for us in times that are in many ways ominous, but that also offer a good deal of hope. -
Noam Chomsky
The headlines say it all, Honorable Judges of Kansas:
“MERS had no right to the underlying debt repayment secured by the mortgageâ€. But why aren't the corporate media giants like ABC, NBC and cable networks like CNN or Fox crying, "Millions of free homes!", "Oops, looks like the banks really do not own the note!"
This is by no means small mortgage potatoes or just some rogue
judges making rash decisons based on helping the little guy. No, this is the
real bank breaking news Main Street. This is the real deal and these cases set precedent on what can be accomplished by homeowners that choose to fight back and lawyers that are worth their legal salt.
Those two necessary parts of the equation to stick it to the banks seem to be the missing ingredient in taking down these lenders that made trillions in fraudulent mortgages.
Show me the note and take this foreclosure notice and shove it is for real folks. Very Real!
This blog post is going to show you the cases, judges, people and
Senatorswho believe that many of these scrutinized mortgages were created fraudulently created. I for one have been blogging about this for over two years to get the word out and was one of the first on the internet thanks to a tip from
Consumer advocate and foreclosure fighter, April Charney in 2007.
Then a stroke of luck: A Legal Aid lawyer, April Charney, got the foreclosure withdrawn after discovering that the company that filed to foreclose didn’t own the Tuckers’ loan. The owner was actually a securitized pool of loans overseen by Deutsche Bank (nyse: DB – news - people ). And Charney has documents showing the pool bought the loan after the Tuckers defaulted–an illegal purchase for most pools, including this one. That means a court might refuse to recognize it owns the loan. Charney is arguing it should do just that.
“I buy time, then get lenders to cut interest rates and fees,†says Charney, who claims she’s stopped dozens of foreclosures over ownership issues. Other lawyers are making similar moves in Maryland, New York, Massachusetts, Ohio, Kansas and Washington State–often forcing sloppy lenders to offer generous terms to avoid litigation.
Do you think this trucker in Florida is some diamond forclosure defense case in the rough? No, quite the contrary.
I am also going to explain why more media outlets do not cover these stories in depth and why the banks are so eager to squash any attempts by corporate media to release these stories en mass.
If they did, it would bring a legal avalanche upon the reaming banks and quite possible
crash the entire banking system like the Great Depression. This news could be a threat to our economy folks and that is why you will not hear too much about it.
Here were the headlines almost two years ago and even the great Senator of Ohio Marcy Kaptur decried in the media, on You Tube and on the Senate Floor:
"I say to the American people, you be squatters in your homes." - Possession is nine-tenths of the law.â€
Powerful words from Marcy Kaptur of Ohio and the longest-serving Democratic congresswoman in U.S. history.
Her district, stretching along the shore of Lake Erie from west of Cleveland to Toledo, faces an epidemic of home foreclosures and 11.5 percent unemployment.That heartland region, the Rust Belt, had its heart torn out by the North American Free Trade Agreement, with shuttered factories and struggling family farms.
Kaptur led the fight in Congress against NAFTA. Now, she is recommending a radical foreclosure solution from the floor of the U.S. Congress: “So I say to the American people, you be squatters in your own homes. Don’t you leave.â€
She criticizes the bailout’s failure to protect homeowners facing foreclosure. Her advice to “squat†cleverly exploits a legal technicality within the subprime-mortgage crisis. These mortgages were made, then bundled into securities and sold and resold repeatedly, by the very Wall Street banks that are now benefiting from TARP (the Troubled Asset Relief Program).
The banks foreclosing on families very often can’t locate the actual loan note that binds the homeowner to the bad loan. “Produce the note,†Kaptur recommends those facing foreclosure demands of the banks.
Do you believe Senator Kaptur has more pull in the media and Washington or do you believe the banks might have more power to crush voices like Kapturs? That is the question that needs to be contemplated in order to get the message out that the media is in fact very much controlled by special interests and the banks that sit on their boards.
Deutsche Bank Foreclosures Tossed Out of Ohio Federal Court – “They Own Nothing!â€
Judge Christopher A. Boyko of the Eastern Ohio United States District Court, on October 31, 2007 dismissed 14 Deutsche Bank-filed foreclosures in a ruling based on lack of standing for not owning/holding the mortgage loan at the time the lawsuits were filed.
32 More Foreclosures Dismissed for Lack of “Documentation†-
32 more foreclosures were dismissed on November 14th by Ohio Federal judget Kathleen O’Malley, citing the reasoning of the Boyko decision. Our investigations of this ruling uncovered the fact that the plaintiff was Household Realty Corporation, showing that this issue was not just a “Deutsche Bank problemâ€.
In one opinion, a federal judge in Cleveland sought to reverse what he called “a quasi-monopolistic system where financial institutions have traditionally controlled, and still control, the foreclosure process.â€
Foreclosure Warfare – “It is troubling that the plaintiff has filed this case before it had any interest in itâ€
“It is troubling that the plaintiff has filed this case before it had any interest in it,†Hamilton County Common Pleas Judge Steven E. Martin said in a letter to Wells Fargo’s lawyer.
The judge said the foreclosure lawsuit was filed before Wells Fargo owned the mortgage – thus, the suit was premature.
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.
The Judicial Integrity of the United States Court is “Priceless†– 27 More Foreclosures Dismissed
In a decision piggy-backing on Judge Boyko’s recent Deutsche Bank ruling (announced on this site Tuesday), Judge Rose has thrown out another batch of foreclosures, making the following summary remarks:
“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.
A mortgage grants a title or lien against a property as security for the payment of a debt or the performance of a duty. The “mortgagor†is the borrower who grants a mortgage in exchange for a loan; the “mortgagee†is the lender who gives the loan secured by the mortgage.
In the
Landmark Bank v Kesler case the courts cites;
Black’s Law Dictionary 1031, 1034 (8thed. 2004). The mortgagee is so well understood as the lender that Black’s Law Dictionary defines a “foreclosure†as an action brought by the lender/mortgagee: a foreclosure is a “legal proceeding to terminate a mortgagor’s interest in property, instituted by the lender (the mortgagee) either to gain title or to force a sale in order to satisfy the unpaid debtsecured by the property.â€
Black’s Law Dictionary 674. Similarly, the tie between a mortgage and an underlying debtis so intrinsic that Kansas law provides that “[t]he assignment of any mortgage . . . shall carry withit the debtthereby secured.†K.S.A. 58-2323. Indeed, an assignment of a mortgage without the debt transfers nothing. 55 Am. Jur. 2d, Mortgages § 1002. Thus, the mortgagee, who must havean interest in the debt, is the lender in a typical home mortgage.
A second relevant case that the court references isGibson v. Ledwitch, 84 Kan. 505, 114 P. 851 (1911). It involved the converse of our case–a party sued to quiet title against a mortgage, which would clear the title from the encumbrance of that mortgage. But the plaintiff joined only a trustee who had no beneficial interest in that mortgage; the beneficial owner was not made a party. The court held that the judgment did not bind the beneficial holder of the mortgage since the trustee had no right to the payments, was not the party to declare default, and had no authority to transfer or foreclose the mortgage.
But for reasons thought beneficial by a group of lenders who trade mortgages, the form of mortgage used in this case designates an entity that is not the lender as the mortgagee. See MERSCORP, Inc. v. Romaine, 8 N.Y.3d 90, 96, 828 N.Y.S.2d 266, 861 N.E.2d 81 (2006) (MERS was established by large lenders to allow easy electronic trading and tracking of mortgages). Specifically, the mortgage says that the mortgagee is MERS, though “solely as nominee for Lender.â€
Does this mean that MERS really was the mortgagee, even though it didn’t lend money or have any rights to loan repayments? Assuming so, MERS argues that it was a necessary party to the foreclosure and that the foreclosure must be set aside. But the premise upon which MERS bases this argument is flawed.
What is MERS’s interest?
MERS claims that it holds the title to the second mortgage, not the real estate. So it does, but only as a nominee. In terms of the roles that we’vediscussed in the mortgage business, MERS holds the mortgage but without rights to the debt. The district court found that MERS was merely an agent for the principal player, Millennia. While MERS objects to its characterization as an agent, it’s a fair one.
MERS had no right to the underlying debtrepayment secured by the mortgage; MERS did not even act as the servicing agent to receivethe payments and remit them to the lender.
MERS’s right to act to enforce the mortgage was strictly limited: if “necessary to comply with law or custom,†MERS could foreclose the mortgage or enter a release of the mortgage. MERS certainly could not act at odds to its principal, the lender. Its role fits the classic definition of an agent: one “‘authorized by another to act for him, or intrusted with another’s business.’†In re Tax Appeal of Scholastic Book Clubs, Inc., 260 Kan. 528, 534, 920 P.2d 947 (1996) (quoting
Black’s Law Dictionary 85 [4th ed. 1968]).
Only one Kansas case has discussed the meaning of nominee in any detail. In Thompson v. Meyers, 211 Kan. 26, 30, 505 P.2d 680 (1973), the court noted that the meaning of the term may vary from a pure straw man or limited agent to one who has broader authority.
Without a property interest at stake, there can be no due process violation. State ex rel. Tomasic v. Unified Gov’t of Wyandotte County/Kansas City, 265 Kan. 779, 809, 962 P.2d 543 (1998).
or with the handling of paperwork documenting who owns what in the residential-mortgage industry in general. E.g., In re Nosek, 386 B.R. 374, 385 (Bankr. D. Mass. 2008); In re Foreclosure Cases, 2007 WL 3232430 (N.D. Ohio 2007) (unpublished opinion).
These cases are so potentially damaging for the remaining banks, that is could possibly lead to a homeowner revolution and finally put the power back in the peoples hands. But Main Street has major hurdles if it wants to get the message out to struggling homeowners.
So, why hasn't Main Street heard more about these fraudulent mortgages and illegal foreclosure proceedings?
These breaking the bank news stories have remained outside the paid puppets of Corporate media for one reason and one reason only. The facts are that the big banks sit on every single corporate media's board that "we the people" rely on for news, information and facts.
You can dress the media propaganda pig in anysuit, dress or recent cute broadcasting graduate you want and it still is a pig with red lipstickbought with banking money. It doesn't take Sherlock Holmes or Andrew Cuomo to take a look at who is pulling who's strings and as they say in law enforcement and mob rackets, follow the money.
Most us Main Street folks never venture past ABC and CNN for our latest information and news. Many of us don't realize that we are being mislead by the devil's paid puppets (News Reporters) that work for the major media outlets. many of the very corporations that caused this crisis have a major stakes in the news you rely on for facts.
Don't you think that it is in the banks best interests to keep bank breaking stories like this out of the media spot light? Stories that can cause a run on their stock and thus bankrupt their ponzi scheme.
One of the 10th most quoted men on earth has dedicated the last 40 years of his life to combat this travesty that is being played out on the American people.
His name is
Noam Chomsky
Chomsky received his PhD in linguistics from the University of Pennsylvania in 1955. He conducted part of his doctoral research during four years at Harvard University as a Harvard Junior Fellow. In his doctoral thesis, he began to develop some of his linguistic ideas, elaborating on them in his 1957 book Syntactic Structures, his best-known work in linguistics.
Chomsky joined the staff of the Massachusetts Institute of Technology (MIT) in 1955 and in 1961 was appointed full professor in the Department of Modern Languages and Linguistics (now the Department of Linguistics and Philosophy). From 1966 to 1976 he held the Ferrari P. Ward Professorship of Modern Languages and Linguistics, and in 1976 he was appointed Institute Professor. As of 2008, Chomsky has taught at MIT continuously for 53 years.
As it turns out, the free public mind is one of the greatest threats to many corporations and political regimes as it could easily destroy their long-term goals, ideologies and operations. Chomsky also says that the idea of democracy gives an enormous, anarchic power to the regular people, which could be quite harmful to the society in general.
Actually, propaganda is one of the Chomsky’s favorite topics as he wrote many books about it – Media Control: The Spectacular Achievements of Propaganda, Manufacturing Consent: The Political Economy of the Mass Media and Propaganda and The Public Mind: Conversations with Noam Chomsky.
Great reads for those who are interested in the truth.
LETTER FROM NOAM CHOMSKY
PEOPLE MAY BE CONFUSED ABOUT THE CAUSES OF THE GREAT INEQUALITY THEY SEE, BUT THEY UNDERSTAND THAT BUSINESS AND GOVERNMENT ARE NOT TO BE TRUSTED. NOW, MORE THAN EVER, CHOMSKY'S INSIGHT INTO THE MECHANICS AND ROLE OF PROPAGANDA IS CRUCIAL.
The suggestion is a reasonable one. The history of business and political economy yields many examples of the subordination of narrow gain to the broader interest of the opulent minority, which is unusually class conscious in a business-run society like ours.
Illustrations include central features of the modern world: the creation and sustenance of the Pentagon system of corporate welfare despite its well-known inefficiencies; the openly proclaimed strategy of diversion of soaring profits to creation of excess capacity abroad as a weapon against the domestic working class; the design of automation within the state system to enhance managerial control and de-skill workers even at the cost of efficiency and profitability; and many other examples, including a large part of the foreign policy.
In the real world, the left includes a considerable majority of the population, to judge by public opinion and the lessons of history or it should, if the authentic left could get its act together. That is where hope lies, in otherwise dismal times.
Sincerely yours,
Noam Chomsky
Powerful words from one of the most quoted men ever to walk our earth. If such a great thinker such as Noam Chomsky can say such damning words about our media and dedicate 40 years of his life to fighting corporate media and big government, why wouldn't more of us know of Mr. Chomsky or of these lies being played out on us daily?
The answer is simple, media propaganda does not allow people like Noam Chomsky to be heard by Main Street., He is a threat to the corporations and elite families who truly run our country.
If you do a little basic research on media giants like NBC, ABC and CBS. You will quickly discover that many of the major banks have executives that sit on their boards. Making decisions and having a say so in what these media outlets broadcast. This is definitely part of a board members job.
For us common folks on Main Street, to not think that these banks are doing everything they can to make themselves look great or to squash major news stories like this one is foolish. Right?
Lets take a look at
NBC, who is owned by NBC Universal through a Merger between NBC and Vivendi Universal Entertainment (2004): NBC, Universal Studios, NBC Universal Television Group, NBC News, USA, Syfy, CNBC, MSNBC cable TV, NBC.com, MSNBC.com, iVillage, Bravo, qubo, SendMeRSS, Telemundo Television Studios, The Weather Channel,Hulu
Again, this media network has another huge pie of what we eat and see on the tube. Especially the financial news and look who is tied to NBC..
Chase Bank in da NBC house!
Douglas 'Sandy' Warner (born June 9, 1946 as Douglas Alexander Warner III but widely known as "Sandy") is an American banker who joined Morgan Guaranty Trust Company of New York out of college in 1968 as an officer's assistant and rose through the ranks to become chairman of the board of J.P. Morgan & Co. Inc. in 2000. Among his many accomplishments, Warner may be best known for spearheading the 2000 sale of J P Morgan & Co. to Chase Manhattan Bank for $30.9 billion.
ABC presently operates on a 92½-hour regular network programming schedule. It provides 22 hours of prime time programming to affiliated stations: 7–9 am weekdays (Good Morning America) along withone-hour weekend editions; nightly editions of ABC World News, the Sunday political talk show This Week with George Stephanopoulos, early morning news programs World News Now and America This Morning and the newsmagazine Nightline; the late night talk show Jimmy KimmelLive!; and a four-hour Saturday morning live-action/animation block under the name ABC Kids.
ABC has a big stranglehold on what we see every day when we flip on the television.
Now lets take a look at who sits on the board with Walt Disney (sure ain't Mickey Mouse) and will have a say so of how favorable their companies appear on ABC's programs.
Wells Fargo is da ABC house!
John S. Chen (born July 1, 1955) is chairman, chief executive officer and president of Sybase, Inc. A recognized expert on global business and international trade, he is also a director of Wells Fargo & Company.
He was among the first American business executives to favor permanent normalization of traderelations with China. President George W. Bush named Chen a member of the President's Export Council in December 2005. He has received an honorary professorship from Shanghai University, an honorary doctor of science degree from the City University of Hong Kong, and an honorary doctor of business administration degree from the Hong Kong University of Science and Technology.
Chen was elected a director of the Walt Disney Company in 2004 and of
Wells Fargo & Company in 2006. He is also a director of the United States Chamber of Commerce and the Committee of 100, a trustee of the San Francisco Symphony, and a member of the Council on Foreign Relations.
Last but not least CBS Corporation: CBS, The <ACRONYM title="Countrywide Home Loans">CW</ACRONYM>, CBS Radio, CBS Television Studios, CBS Television Distribution, Showtime, Simon & Schuster, CBS Outdoor, CBS Records
Bank of America in da CBS house!
Charles K. Giffordis Chairman Emeritus of Bank of America, joining the company as CEO of Bank Boston. He is also a corporate director of CBS Corporation.
So, are banks in bed with corporate media and can they control what information us common folks on Main Street receive?
I believe I made an intelligent argument that this is in fact the case. So, there you have it for your own eyes with pictures, links, videos, facts and just about everything you need to draw an intelligent conclusion.
Do they banks truly have legal right to foreclose on millions of fraudulent mortgages where they can't prove they own the note?
This question has to be taken up in the courts by patriot homeowners, lawyers and judges who are willing to take up the fight for their property rights. To demand due course and fair treatment in a mortgage servicing system that is anything but.
Read Moe’s produce the note blog posts from 2007-present:
Where’s the note, who’s the holder: Enforcement of the promissory note secured by real estate
February 19, 2009
I have been writing about the missing note theory for almost two years now and it appears that the great minds in the legal profession and of our courts have …
Missing Mortgage Notes and Deceptive Mortgage Servicing: Wall Street Shell Game 101
October 31, 2008
Millions of Americans are facing foreclosure and many have already suffered their foreclosure fates without ever even exploring options to save their homes. Most all homeowners just accept the fact …
Does Your Lender Have the Right to Foreclose on You?
October 15, 2008
By Moe Bedard (Filed Under Stop Foreclosures Effectively) This is the question of the day floating throughout the legal blog sphere and I wanted to elaborate on this subject that we …
Longest Foreclosure Battle in US History Continues for Ohio Man
October 8, 2008
Supreme Court Denies Petition for Writ Of Certiorari of Couple Seeking Return of their Home taken under the Color of Law as the Trial Court lacked jurisdiction to Render Judgment …
Bring Down the Banks with these Foreclosure Defense Tactics
July 7, 2008
Get your gloves on and start training for the fight of your life because foreclosure defense is going to be no easy battle. Make no bones about it, you are …
LONGEST FORECLOSURE CASE IN HISTORY GOES TO THE U.S. SUPREME COURT
June 18, 2008
The foreclosure story of Richard Davet is one of dedication, persistence, and a never ending will to stand by his convictions and his home. I wrote about Mr. Davet in December …<!-- google_ad_section_end -->
