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Old 05-04-2021, 10:07 AM
 
Location: IN>Germany>ND>OH>TX>CA>N/VA
2,516 posts, read 2,797,027 times
Reputation: 9437

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Quote:
Originally Posted by adjusterjack View Post
I'm not shedding any tears for the lending industry.
Why? Because they lend money and expect it to be paid back? <insert sarcasm here>What a scam for sure!!

To the OP, this guy sounds like a real piece of work. To me, they should be able to press criminal charges on him.
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Old 05-04-2021, 11:15 AM
 
Location: Holly Neighborhood, Austin, Texas
3,881 posts, read 5,791,356 times
Reputation: 2696
I think this kinda thing would be very had in certain states which would translate to lower costs. Legally I see no reason why filing for bankruptcy should have any delay effect on a foreclosure.

I've like banks, credit unions and local lenders I've dealt with and have never had a bad auto or car loan yet.
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Old 05-04-2021, 11:41 AM
 
4,306 posts, read 4,270,715 times
Reputation: 5571
Quote:
Originally Posted by verybadgnome View Post
I think this kinda thing would be very had in certain states which would translate to lower costs. Legally I see no reason why filing for bankruptcy should have any delay effect on a foreclosure.

I've like banks, credit unions and local lenders I've dealt with and have never had a bad auto or car loan yet.

I believe that in most cases they cannot touch your primary residence in a personal bankrupcy
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Old 05-04-2021, 11:41 AM
 
Location: On the wind
1,117 posts, read 547,277 times
Reputation: 2399
He certainly knew how to exploit every possible loophole in the system! Hopefully, they will be able to press some kind of charges!
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Old 05-04-2021, 12:55 PM
 
3,330 posts, read 1,043,549 times
Reputation: 2964
Quote:
Originally Posted by atlguy44 View Post
He certainly knew how to exploit every possible loophole in the system! Hopefully, they will be able to press some kind of charges!

Not only did he know how to exploit the system legally he probably learned and understood how that state/part of the system worked. So he knew the law and how locals actually handle things like this which are 2 different things.

Also I think he accumulated loopholes never using them all at once. How can someone be in court that much, they need 'something' to argue. I think this was planned from day one. Maybe he had buyers remorse on the price/mortgage and said the heck with it.
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Old 05-04-2021, 01:38 PM
 
Location: Prepperland
15,470 posts, read 11,199,354 times
Reputation: 12237
One of the classic tactics is to politely ask what monies were lent by the mortgage holder. Since 1933, no money (lawful) has circulated. Repudiated notes (no par value) aren't money - by law. But if YOU are an obligated party on the notes, yes, you must accept those worthless notes. 12 USC Sec 411 defines the US Gubmint as an obligated party.
Can you guess how YOU became an obligated party, so that all your labor and property underwrite those worthless notes?

And if the creditor lent you "nothing of value" how can you be liable to repay him more than nothing of value? Especially if you void your signature on the promissory note, because you now realize there was fraud - in that you promised to pay the creditor "dollars" when no dollars have circulated since 1933. And as as good moral person, you wish to return to the creditor whatever value they LENT to you.
Voiding the promissory note is the wooden stake through their heart (if they had one). Because if they "confiscated" your property they could tender your own NOTE back to you, and thus not be liable for unjust taking. No legal note - no way to take the property as collateral.

LEGAL TENDER STATUS
http://www.treasury.gov/resource-cen...al-tender.aspx
". . .Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything. This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are "backed" by all the goods and services in the economy."
Now since CONgress cannot take "private property" without paying JUST compensation (in lawful money no less), how did all our property cease to be private property? And pledged as collateral on their kited checks?

Hint, hint : Involves a 9 digit number and an account.

And if you withdraw from that account - say on religious principles - you're no longer an obligated party and can refuse funny munny.
"Federal reserve notes are legal tender in absence of objection thereto."
MacLeod v. Hoover (1925) 159 La 244, 105 So. 305
Yessir, at one time, free Americans could object to (toilet) paper currency.
For some curious reason, they couldn't after 1935.
Hmmmmm... and FDR ended the requirement for a Pauper's Oath as a prerequisite for public charity (Welfare / Relief).
NAW, nothing to see here, move along little girl - and your dog, too.
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Old 05-04-2021, 02:06 PM
 
Location: Raleigh
11,048 posts, read 8,431,727 times
Reputation: 15676
Quote:
Originally Posted by verybadgnome View Post
I think this kinda thing would be very had in certain states which would translate to lower costs. Legally I see no reason why filing for bankruptcy should have any delay effect on a foreclosure.
Don't confuse a foreclosure with eviction. If the bank forecloses, and tells you to vacate, and you refuse, they will then evict.
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Old 05-04-2021, 02:18 PM
 
Location: Raleigh
11,048 posts, read 8,431,727 times
Reputation: 15676
Quote:
Originally Posted by anononcty View Post
Not only did he know how to exploit the system legally he probably learned and understood how that state/part of the system worked. So he knew the law and how locals actually handle things like this which are 2 different things.

Also I think he accumulated loopholes never using them all at once. How can someone be in court that much, they need 'something' to argue. I think this was planned from day one. Maybe he had buyers remorse on the price/mortgage and said the heck with it.
There are people out there, that never intend to pay for anything, more than they have to. They go to incredible ends of scamming and gaming the system. This was likely his game from the get-go.

The thing is, often the system/creditors are unprepared for an "active adversary." Oftentimes at least initially, they're totally unprepared to actually see the person they're suing in court. This guy would say something to the extent of "You need to prove that the debt is mine" and they couldn't do it then and there. They were expecting a summary judgement.

A family member bought a house that had been a foreclosure. It was basically sold for pennies to a second institution that specialized in getting quiet title on properties that had owners that fought tooth and nail against the proceedings.
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Old 05-04-2021, 02:53 PM
 
Location: Fort Lauderdale, Florida
11,573 posts, read 10,472,443 times
Reputation: 25883
Quote:
Originally Posted by JBtwinz View Post
Not to make a long drawn out story but I also have friends who were tremendously underwater as they took a second out to open a business. That business failed about the same time as the housing market crashed. They decided not make both payments so they stopped and as mentioned they were underwater house value wise at that time so selling was not an option.

Fast forward almost 10 years later and they are still in the house without having paid on the mortgage or taxes.
Down here you can't skip on taxes or they will take the house.
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Old 05-04-2021, 04:26 PM
 
13,040 posts, read 10,691,906 times
Reputation: 34229
Quote:
Originally Posted by anononcty View Post
I can't help but think this was a scam from day one. Either he was a grifter or he was coached. Dangerous clowns like this make it harder to get rid of problem people and make it tougher on buyers and renters when scrutinized/assessed for a mortgage or lease
Of course it was a scam from day 1. That's why he only made one mortgage payment. Honest, sincere, yet struggling homeowners would at least have made payments for a couple of years before defaulting.
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