Mortgage vs. CPN / One Note vs. Another

I am researching for a land patent, and I wonder what the difference is in the Note that I signed for the Mortgage company and a CPN. I see no difference.



Do you?



I really don't see what I have to lose by paying off the mortgage with a CPN.



Hmmmmm.

[Ice]

Believe it or not... some mortgage contracts state that the contract can be "paid" in the same way that it was created.



Imagine that!



READ YOUR CONTRACT!

Would you elborate on this comment please ICE? I just recieved my first bill from the mortgage company in many months as you know I am in foreclosure and now they send me this new bill stating the orginal amount that the principal was not what they are saying in court any ideas on this would be appreicate also. It states on the front FOR IMFORMATION PURPOSES thanks

[Ice]

Mortgage was created via CPN... therefore, a CPN can pay the mortgage. Every contract must be scrutinized. They are not all the same... that is why I repeat "READ THE CONTRACT" when it comes to mortgages. Some contracts seem to say that the bank is responsible for making the mortgage payment... imagine that!... sounds kinda insane, don't it? I'm not sure what they were thinking when they put these contracts together. But, you need to look at the "terms" they use and define each term. When you have the terms defined, read any paragraph and replace the term with the definition of the term inserted in its place... and you will be surprised at what you might discover.



[ How many are reaching for their mortgage contracts right now? ]

[logos]

Ice:

Thanks for the reminder to read the contract.

DUH! You think I would have done that now that I'm in foreclosure.

[Ice]

Always read your contracts before beginning any process... that is the key to any success you may have.

[dashboy]

I was re-reading my contract concerning an auto purchase and found some pretty nasty stuff in it. Something called a cross collateralization clause. Something about I agree that the security (auto) secures any and all other loans I may have now or get in the future! Wow!

Ice- I appreciate your help and I have read over my contract several times and that is how I realized that it states something to the effect that if I pay the wrong note holder I wil still owe the note to the note holder which was quite confusing considering they said they can transfer or sell the note at there discrestion so they will not always notify me and I will have no way to find the true note holder. I still don't know and it has been over a year and they all claim to be the note holder. Now I feel like I am playing "I've got a Secret" Will the real note holder please stand up!!!!

[suijuris]

"I still don't know and it has been over a year and they all claim to be the note holder. "



They must be able to provide the ORIGONAL note or there is no contract, and you owe nothing. There are cites on the origonal promissory note issue elsewhere in these forums.



If it were me, I would ask where I could view the origonal, and if they refused to provide me the opportunity to do so.

Mine says that the note may be transferred, but the original bank is the one doing the collecting.



I am getting ready to get to the bottom of this....