Banks MUST write down loands to prevent a MASS homeowner exodus. (property tax, income)

[Fighter 1]

Originally Posted by Niners fan

I don't want to get in a moral argument here because we obviously have different values. But just because something is against the law doesn't make it right or your right to do it. As I have said before this is a good example why the more laws a society needs to govern everything people do the worse shape it is in.

As for your UCC-1 scheme... You are using it for something for which it was not designed. It is like using 100% financing to buy a home and then walking away if it loses value. There are many people who bought their first home with 100% financing (myself included in 1997) and are very grateful that they were able to qualify for a home. It has been a great financial blessing for me. If people abuse the system, in this example by simply walking away because they have no stake in the home, then it limits the possibility for people with integrity to take advantage of a 100% loan in the future.
This is not a comment on the OP. I am only commenting on your scheme.

I am assuming that you have some sort of proof to support your claim that it is a "scheme"? Althou i will admit you have a right to you "oppinion" and i respect that of a person with high moral standards.

I assume also that you ment that just because some thing is not against the law it doesn't make it right ? ( see every one makes mistakes sometime ). We are now and in the past over sea's killing people in a war that to me that is morallty wrong but iIfeel strongly about our Constitutional and will defend it. If there are action afforded me thru my Constitution beliefs then I have no trouble using them . Not just talk about them . But first you have to know what they are . Thats what the problems here are . we are not a perfect world . Some time there is no magic answer to our problems even though we wish there were.And lastly yes we don't need any more laws we need honest business profesionals , trustworthy professionals with morals that don't put the dollar at the top of their list of achivements.

[Fighter 1]

Originally Posted by TristansMommy

Hi Fighter.. that comment was not for you.. it was for someone else that said simply this "if you want to stayin your house than pay or refinance"..

DUH!! I 've tried refinance. me and others in this mess no longer qualify for the refi.. as for paying.. well.. come on.. cna't squeeze blood from a stone right.

I looked up the form you mentioned.. and I'm a little confused. IT strictly references commercial properties.. and also seems that the person that the property is in debt with is the one that is supposed to fill it out.. not the owner of the property. So I'm confused as to how this can truly help/

Where did you live and did you get this ifnormation from an attorney! I am interested.. but need more information so I can understand ti better.

I lived in So. California and yes the process did come from an Attorney. please check your direct messages. Thanks

[Niners fan]

Originally Posted by Fighter 1

And lastly yes we don't need any more laws we need honest business profesionals , trustworthy professionals with morals that don't put the dollar at the top of their list of achivements.

Yes, we do need more integrity in the business world. And a few less people filing bogus UCC-1 liens, too.

[Niners fan]

Originally Posted by Fighter 1

I lived in So. California and yes the process did come from an Attorney.

A little more integrity in the legal profession would also be a good thing.

[Fighter 1]

Originally Posted by Bill Keegan

The thing is, you haven't given the inside. You said spell your name with capital letters & that makes you a corporation. That's not correct. A corporation is a legal entity that has been created via a process called incorporation. There are laws concerning this sort of thing, and while you have said, repeatedly, that spelling your name with capital letters makes you a corporation, I don't believe that's true.
Additionally, since this conversation began with a suggestion that you create a layer of protection with a UCC-1, I'll throw out another question. Aren't leinholders, even with the UCC-1, put in order of their leins? So the first mortgage on the property would still take precedence wouldn't it? And if they weren't going to be first, the mortgage company wouldn't lend the money.

Again your interpation is 100% WRONG !! pardon me . i will repeat it one more time . Yes the spelling of your name does make you a corporation as i have posted on other sites Re; Mtg.so I have to say again your wrong you present no facts, just you don't think ( and I hate to seam like i'am arguing with you but these are the facts. answer, any one why does the court use all capitol letters? why does the Electric co, Gas co. , Water co Mtg. co., I can go on and on. It is the name that you contract in . The Government style manual on the English language . This is what i have been saying all day. Wanting you to learn as i was tought by an Attorney
take control of your life. It would that you read the parts of the UCC as you were taught .All the while this action is working as i discribe . Your capitol letter spelling is your Corporation your corporation is your DEBTOR .A Ficticus ententidy( Does not represent a live being )( i know this is way above your head because you were never taught this ,niether was i ) now you are the creditor, you sign for all these corporationa , it was you who gave the money down to start the escrow while the mtg. co. alwways have felt that they are first in line and even you were taught that in reality the are second . They file with the county . I have found that by filing with the state and being the first to do that you have a Superior security claim . Not only do I say that but the UCC says in the area WHERE IT STATES HOW TO PERFECT A SECURITY CLAIM !!when this is compleated you then file with the county that you the creditor for the DEBTOR have perfected a security interest in that property. Now this is what i have been asking for two days .
Learn to research all the facts . Then when you have all the facts no one can say i think , they will say i know this to be true or false and last again this post may not be correct in form or spelling but the process works 100%. PS the assumption by the Banks that they are first in line lein holders in an error on there part the need to have filed with the secretary of stateto have superior claim .check it out.

[Fighter 1]

Originally Posted by Niners fan

Yes, we do need more integrity in the business world. And a few less people filing bogus UCC-1 liens, too.

OH yes those famous words , I do recall Judge John N. Martin making that same statement and ruling , only to have it was overturned in appeal. The UCC -1 stood intact .

[TristansMommy]

I find it laughable that everyon is talking about "morals" etc.. when some average person tries to find some sort of loophole to save him/ herself from financial ruin and losing their home. Hey.. if there is a loophole that will and can save me and my family from something bad.. I'm going to take it. AND I will NOT feel 1 ounce of guilt. And here's why folks...

All of us "nobodys" or average middle class americans are constantly getting handed the you know what by those that CREATE laws with loopholes that protect only the rich and only corporations. For example.. chapter 13 bankruptcy laws as it stands now says that in Chapter 13 your bank can not be forced to modify the terms of the mortgage so that the homeowner can keep his/her home and continue paying for it. HOWEVER.. if SAID HOME were SKI CHALET or SECOND HOME or YACHT!!!!! then the courts CAN Force the lender to modify the terms so that the 2nd home, ski chalet or yacht can be SAVED!!!

So.. put simply.. if you are the average American middle class family that has 1 HOME!! the place where you raise your children.. and hte ONLY place you have to live at the moment.. it don't matter.. you won't be reorganized.. it will stay the same and if you were havign problems you will loose your home anyway!! BUT. the rich SNOB with plent of assets may get his other debt re-organized..may loose his first home.. BUT that's okay.. his second or his yacht he'll get to keep?? HMM>. .. seems like another absurd "loop hole" built into the law BY THE RICH to protect their "toys" etc!!!

So.. if some average American family struggling to stay in their home actually USES the law and many loopholes to save the home.. I commend them, applaud them etc. Heck.. the banks and corporations use them every day to put the screws to the little guy.. so isn't it about time WE figure out what they are and use them to our advanatage!!!

[goodbyehollywood]

So you guys think we should all play the loopholes, not follow the rules, do what is best for us and only us and applaud each other for finding ways to shortcut the system everyone else follows? Out of intellectual curiosity, I have to ask-- what do you think is going to happen when everybody does this? Because if people not in trouble see others finding ways to get breaks, do you not think they're going to want them, too? And if everybody starts working the angles, then nobody will reap the benefits, including those the loophole was designed to help in the first place.

Tristansmommy, I really hope you can find a way out of your dilemma. I admire your perseverance in trying to find a viable solution, and I really wish your bank would work with you. But you are far from the average middle class American. You state that you can comfortably pay $3000 per month in mortgage, plus high LI taxes-- that is far beyond what most Americans can pay. To 95% of the world, you are the "rich." And all rich people aren't snobs, just as all people in mortgage trouble aren't lazy, as you've pointed out. It is, in fact, rich people's tax dollars and philanthropic efforts that enable the poor, lazy and unscrupulous to work the system so effectively.

I am not offering a moral view, but a practical one. If we're all to be excused from morality and ethics, I suspect a lot of people will be quite relieved. After all, helping others has no benefit beyond the "moral"-- it simply takes away from us, and in these inflationary times, our own comfort and retirement is in jeopardy. Doing the right thing isn't easy and it means sacrifices that a lot of people would prefer not to make, but do, because that's the price of living in our society. But if you really want to segregate the classes, I can assure you-- the haves will be all for it. They will simply have more while the have nots will have far less. So before the "nobodys" revolt too much, they might want to take a look at the other two-class systems in Europe and see how that's working out for the little guy. Sometimes, rules really do have a purpose, y'know?

[HappyTexan]

Playing loopholes to grab "The Great American Dream" is what got us in this mess to begin with.

[Fighter 1]

[quote=TristansMommy;3643280]I find it laughable that everyon is talking about "morals" etc.. when some average person tries to find some sort of loophole to save him/ herself from financial ruin and losing their home. Hey.. if there is a loophole that will and can save me and my family from something bad.. I'm going to take it. AND I will NOT feel 1 ounce of guilt. And here's why folks...

All of us "nobodys" or average middle class americans are constantly getting handed the you know what by those that CREATE laws with loopholes that protect only the rich and only corporations. For example.. chapter 13 bankruptcy laws as it stands now says that in Chapter 13 your bank can not be forced to modify the terms of the mortgage so that the homeowner can keep his/her home and continue paying for it. HOWEVER.. if SAID HOME were SKI CHALET or SECOND HOME or YACHT!!!!! then the courts CAN Force the lender to modify the terms so that the 2nd home, ski chalet or yacht can be SAVED!!!

So.. put simply.. if you are the average American middle class family that has 1 HOME!! the place where you raise your children.. and hte ONLY place you have to live at the moment.. it don't matter.. you won't be reorganized.. it will stay the same and if you were havign problems you will loose your home anyway!! BUT. the rich SNOB with plent of assets may get his other debt re-organized..may loose his first home.. BUT that's okay.. his second or his yacht he'll get to keep?? HMM>. .. seems like another absurd "loop hole" built into the law BY THE RICH to protect their "toys" etc!!!

So.. if some average American family struggling to stay in their home actually USES the law and many loopholes to save the home.. I commend them, applaud them etc. Heck.. the banks and corporations use them every day to put the screws to the little guy.. so isn't it about time WE figure out what they are and use them to our advanatage!!![/quote
WELL , WELL ,WELL has some one seen the light. Look at our leaders they ues the loop holes every . do you really think we have an honest government. WAKE UP THIS IS REALITY ! THIS IS LIFE!