|
Along with all of the other revelations of Banks being found guilty of perpetrating fraudulent foreclosures, by forging and fabricating foreclosure documents, the exposure of deposition testimony by Robo-Signers who have admitted their fraud, and the Bank's corrupt law firms, which were hired, and submitted these fraudulent documents in court, in order to perpetrate their fraud upon the courts, now comes one of the, if not THE biggest SCAM perpetrated by Wall Street to recently be exposed. The clever, and complicated process of creating mortgage backed securities, or the securitization of your mortgage loan, has been exposed to be completely ILLEGAL! YES, the clever and complicated scheme, which made Wall Street and the Banks Trillionaires several times over, which practically bankrupted the entire United States economy, which caused the United States Government, and the tax payers to bail out the criminals who created the mess in the first place, and which brought the entire world economy to its knees, has been found to be ILLEGAL! Now, as we stated, this scheme was designed to be so complicated that not only the average Joe could not understand it, but even those who were fairly sophisticated in finance would not understand it either. But alas, the truth always seems to come to light over time. In light of the complexity, we will try to break this scheme down in its simplest form, and outline where and how the laws were broken. Lets start with a hopefully simple explanation of the securitization of your mortgage loan. Simply put, this was a process whereby Wall Street pooled together hundreds of mortgage loans, then converted those loans into unregistered securities, and illegally sold the rights and interest in those unregistered securities, to investors all over the world as certificates, (without your permission), which by the way is illegal pursuant to the Securities Act of 1933. In order to structure this in a way in which they could avoid double taxation, they created a Pass-Through Trust to place the securities certificates in. This Pass-Through Trust would then qualify as what's called a Special Purpose Vehicle ("SPV"), which under the IRS Code, would allow the Trust to pass-through the tax liability to the investors, who the securities certificates would ultimately be sold to. Those investors who purchased the securities are referred to as the Certificate holders. Yes, I know. I told you it was complicated, but I'm trying to keep it simple, so hang in here with me. As I stated, when Wall Street converted your mortgage into unregistered securities, and then sold the securities, without your permission, it was illegal pursuant to the Securities Act of 1933. Additionally, the selling of your converted, unregistered securities provided you, the homeowner with an automatic right to rescind the loan, meaning the lender would have to give you all of your monthly payments made, and all of your closing cost back. Hold on, more violations to come! Next, since the sale of the rights and interest in the unregistered securities was illegal and invalid, no legal or equitable interest was ever transferred to the certificate holders. If the certificate holders have no legal or equitable interest in your property, then the certificate holders have no power of foreclosure of the property, and no rights upon which to pursue foreclosure against you, and their alleged rights of any sale are void. Consequently, If your loan was securitized, and the Trustee for the Trust is attempting to foreclose on your property, you can file a civil lawsuit against the Trust, and have their foreclosure stopped, and receive statutory damages in the amount of 3X's the loan balance amount, for their illegal and fraudulent attempt to foreclose on your property. Yes, that's right, Its your turn to get bailed out! If you're in this situation, and you can't afford the high price of an attorney, go to The Homeowners Revolt, and instantly download their "Securities Fraud Lawsuit" document. It's fully prepared. Just fill in the blanks with your specific information, and its ready to be filed with the court in your jurisdiction. The cost of a powerful legal document like this from an attorney would cost you a minimum of $3,000.00. However, for a very limited time, this powerful document is being offered at the incredibly low Discounted Price of $649.00 at The Homeowners Revolt. The bottom line is this, your paid off politicians aren't going to protect you. You the American Citizens have to rise up, as they have recently done in Tunisia, and Egypt. You must arm yourselves with the knowledge, and mortgage ammunition you'll need, in order to fight your mortgage WAR and WIN! As stated, the "Securities Fraud Lawsuit" is the most recent, and one of the most powerful, and exciting legal documents available anywhere on the Internet, to assist homeowners in their fight against the banks for Fraud in the securitization of their loan. Also See the article "The Wall Street Scam: Securitization Is Illegal" at The Homeowners Revolt. However, homeowners have additional legal strategies available to them, in order to stop the banks from fraudulently foreclosing on their homes. One of the more popular strategies that have been employed is the "Produce The Note" Strategy. As a large percentage of mortgage loans were securitized, and sold to investors all over the world, it has been difficult, if not impossible for the banks to produce the required documents that would establish their right to foreclosure, as those documents have been lost in the Wall Street ether. This is why the banks have attempted to forge and falsify the documents, but have been recently caught, and found guilty of fraud. And a final option, but definitely not the least, is the latest, and possibly one of the most powerful strategies available, which does not require a homeowner to go to court at all. It is strictly an administrative process pursuant to the Administrative Procedures Act Of 1946, by which the homeowner is legally authorized to reconvey the property title back into his/her name, thereby revoking any authority by the bank to foreclose on the property, and taking the property back free & clear usually within 90 days. This effectively puts the homeowner back in control, and forces the bank to deal with the homeowner, who now is negotiating from a position of strength, instead of begging the bank for help. The bank now has to go to the homeowner to resolve any title issues. Until such time as our Government Officials decide that they will uphold, and enforce the rule of law, and the U.S Constitution, and not allow themselves to be bought by the bank's lobbyist, the American Homeowner must be willing to fight for their Constitutional Rights, and homes by any legal means necessary against the Federal Reserve, The Banks, and the wealthy Wall Street Barons, who created this mess with the full intention of fleecing the American Citizens from all of their remaining wealth in the form of equity in their homes. For more information about how to stop foreclosure and mortgage deed please visit our official website www.thehomeownersrevolt.com
Related Articles -
foreclosure sale, fight foreclosure, mortgage default, foreclosure fraud,
|
