I need your thoughts on this Mortgage plan

Logan · #1 08-23-2005, 10:12 AM

I just received this email via Awarelaw and before researching it further, I wanted to post here in search of educated opinions or experiences.
http://yourmortgagepaid.4t.com/

Thanks,
Logan

RickA · #2 08-23-2005, 10:42 AM

Logan, this is my personal opinion, and how I would treat it. Now, beside me is a trash can, a little one, but one none the less. If this were a letter to offer that I had received, I would place it in said trash can.

I wander what fruit would be harvested if a check into other forms media were to be searched as to where this offer is made?

I believe there is only one group of people this program is intended. To me, it is a paytriot program claiming to accomplish this goal using the same methods that the majority of folks here are trying get away from. They even say so in their promotion.

charlesa6 · #3 08-23-2005, 01:50 PM

They all the same claiming they will do this, do that, but they never deliver. Out of the blue, they run out of the business, away with your unrefundable contribution to the elimination of your mortgage. Ask them to show the proof,how many mortgage successful pay off in 3 Years, you will be surprise none. As far as am concerned, i don't buy it.

Logan · #4 08-23-2005, 02:58 PM

Ah yes, I am very skeptical of these too good to be true offers. I am glad now that I researched New Leaf Associates and did not give them my sweat equity.
However, I admit, that I was more interested in this information due to the source in which it came. I will research it with true diligence as always, but wondered if anyone else had heard of this particular offer or had some experience to relate.
The process seems strange to me and I do not understand it. Why would anyone buy out your debt and then let you keep the property?

anyway, I appreciate the responses.

Judge Roy Bean · #5 08-23-2005, 03:08 PM

Yet another scam.

One of the things too many people seem to think isn't noticed by the courts is the fact that consumers obtain homes and cars and have the benefit of their use by signing agreements to pay someone for them.

When you get into trouble with one of these schemes, it's like acting like a 5 year-old kid when you have to defend yourself in court.

"Billy, did you take that candy from the store without paying for it?"

"No."

"Then where did it come from?"

"I dunno."

Most parents of children, let alone judges, can see through this stuff pretty clearly.

RickA · #6 08-23-2005, 03:27 PM

Having scanned the source Logan provided, if I had a piece a property that I could afford to use and there were no three thousand dollar requirements up front, I would try it. They are taking the loan and fractionalizing it by what ever the percentage is, and appear willing to pay off the loan from the fractionalizing.
Now, two things that caught my eye. First, the upfront fee of three thousand dollars. That should scream at people. Second, and quite clever to me, at least, is that you have to be up to date with your currrent mortgage payments and keep paying after you sign up. Lets see, be up to date, keep paying then, after three years your mortgage will payed off. I believe the three years is an opportunity to accumulate as much money as possible then, run for it, all the while you are still paying. Net outcome, you are still out the mortgage payments plus three thousand dollars.

#7 08-24-2005, 08:20 AM

Quote:

Originally Posted by RickA

Having scanned the source Logan provided, if I had a piece a property that I could afford to use and there were no three thousand dollar requirements up front, I would try it. They are taking the loan and fractionalizing it by what ever the percentage is, and appear willing to pay off the loan from the fractionalizing.
Now, two things that caught my eye. First, the upfront fee of three thousand dollars. That should scream at people. Second, and quite clever to me, at least, is that you have to be up to date with your currrent mortgage payments and keep paying after you sign up. Lets see, be up to date, keep paying then, after three years your mortgage will payed off. I believe the three years is an opportunity to accumulate as much money as possible then, run for it, all the while you are still paying. Net outcome, you are still out the mortgage payments plus three thousand dollars.

THESE MORONS PROMOTING THIS SCHEME MUST THINK PEOPLE DON'T LEARN FROM PREVIOUS "ELIMINATION" COMPANIES.
OH YEAH, THIS IS NOT A MORTGAGE ELIMINATION PROCESS.....WHAT A JOKE!!!!

#8 08-24-2005, 10:13 AM

Greetings...

hmm.. as richard pointed out quite succinctly..the fact alone you pay them 3k up front is enough to preclude venturing here. How do you spell scam? oh wait..i just did.

Secondly..knowing what is insidiously/abhorrently (being) done via our aberrant money system is enough for me NOT to want to contribute however, wherever & whenever i can.. as i believe it is part & parcel to the ruin of the nation. Hence, i will never apply for "credit" in any fashion, for any reason..lest i too am complicit to our children, & their children's demise.
nope.. not going there....
Now....
What i wouldst be looking at (if it were me) per the mortgage note, which shouldst raise innumerable questions for ones further study is, for example: wording such as..

Borrower Covenants: The borrower hereby conveys they are "lawfully seised" of the "property" & that the "property" is "unencumbered", except for those encumbrances of record..etc..

exactly what does "lawfully seised" mean? (whilst studying that you may want to review its feudal origination "seisin" &.. other terms that may be contained within the document like "fee simple" & alike.. (devil is always in the details.. & words.. are the tools they use to make us look like fools.. thinking.. we know what they mean.. & those we don't ... heck..what harm can that be, huh?)

i digress. sorry..

another thing, ( i believe) to think about..what is a Mortgage note anyways, but a security instrument, predicated upon the performance of a so-called IOU a/k/a promissory note. We consider them as part of single transaction, but are they treated as such? Todays (additional) word: Bifurcate

so.. if lets say, they are attempting to foreclose (on the security instrument) & the security instrument i.e. mortgage note says (in addition to what i posted above) wording to the effect.. "this debt is EVIDENCED by the (promissory) note. How, then can they foreclose without producing that note? Ok.. they may begrudgingly provide a "copy"..heck, anyone can make a "copy".. are you not entitled to their producing the "original, wet ink signature" note?

If not ( as surely they wish not produce what more than likely they simply do not have, have not had from since the beginning) how can you be assurred that someone else.. who actually is the holder in due course of that note does not subsequently come back to haunt you? Are you not entitled , by the rules of best evidence.. to the note..??

Lets set that aside for the moment,.

What did they do to you. at time of settlement &/or more oft than not immediately following.. did they "assign" the mortgage & the promissory note separately.. i was just yesterday looking at a mortgage note that was immediately assigned to a certain bank..& thereafter noted that the same "original so-called creditor" assigned the "note" for servicing effectively 6 weeks later.. now..if this was supposed to be a "single transaction" as we are all led to believe, how can they divide these without bifurcation..?
(is there a securities violation here?)

i wish to expand upon all this.. but i am sorely reminded that i must attend to my affairs..

anyways.. some things to think about..

peace be with ye..all

#9 08-24-2005, 12:40 PM

Quote:

Originally Posted by satorifarm

Greetings...

so.. if lets say, they are attempting to foreclose (on the security instrument) & the security instrument i.e. mortgage note says (in addition to what i posted above) wording to the effect.. "this debt is EVIDENCED by the (promissory) note. How, then can they foreclose without producing that note? Ok.. they may begrudgingly provide a "copy"..heck, anyone can make a "copy".. are you not entitled to their producing the "original, wet ink signature" note?

If not ( as surely they wish not produce what more than likely they simply do not have, have not had from since the beginning) how can you be assurred that someone else.. who actually is the holder in due course of that note does not subsequently come back to haunt you? Are you not entitled , by the rules of best evidence.. to the note..??

YES, THIS HAS BEEN DISCUSSED EXTENSIVLEY HERE. ONE OF THE BEST CASES TO LOOK AT IS MCKAY v. CAPITAL RESOURCES COMPANY LTD., March 24 1997.

HAVE YOU HAD ANY SUCCESS WITH YOUR ARGUMENTS?

#10 08-25-2005, 12:42 AM

YES, THIS HAS BEEN DISCUSSED EXTENSIVLEY HERE. ONE OF THE BEST CASES TO LOOK AT IS MCKAY v. CAPITAL RESOURCES COMPANY LTD., March 24 1997.

greetings..
My apologies, i may have mentioned afore, i am/was new here..whilst i have perused thru, what is clearly an extensive menu, surely i have but skimmed the surface. In retrospect, i suspect, i wouldst (have) fare(d) better, to devote more time to this (or elsewhere)..i confess, it was for want of interaction, of like mind, & the thought my prior post was worthy in kind, that had me venturing there. my mistake
------------
HAVE YOU HAD ANY SUCCESS WITH YOUR ARGUMENTS?

upon some reflection..i reckon now, we may never know..

i do wish you all verily well.. in your ongoing endeavours.

peace be with ye..always