Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-04-2021, 11:07 AM
 
Location: IN>Germany>ND>OH>TX>CA>Currently NoVa and a Vacation Lake House in PA
3,252 posts, read 4,280,090 times
Reputation: 13440

Advertisements

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.
Reply With Quote Quick reply to this message

 
Old 05-04-2021, 12:15 PM
 
Location: Holly Neighborhood, Austin, Texas
3,982 posts, read 6,702,334 times
Reputation: 2882
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.
Reply With Quote Quick reply to this message
 
Old 05-04-2021, 12:41 PM
 
5,102 posts, read 6,023,954 times
Reputation: 7173
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
Reply With Quote Quick reply to this message
 
Old 05-04-2021, 12:41 PM
 
Location: On the wind
1,464 posts, read 1,069,524 times
Reputation: 3577
He certainly knew how to exploit every possible loophole in the system! Hopefully, they will be able to press some kind of charges!
Reply With Quote Quick reply to this message
 
Old 05-04-2021, 01:55 PM
 
9,574 posts, read 4,437,813 times
Reputation: 7321
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.
Reply With Quote Quick reply to this message
 
Old 05-04-2021, 02:38 PM
 
Location: Prepperland
18,862 posts, read 14,042,622 times
Reputation: 16556
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.
Reply With Quote Quick reply to this message
 
Old 05-04-2021, 03:06 PM
 
Location: Raleigh
13,639 posts, read 12,279,035 times
Reputation: 20058
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.
Reply With Quote Quick reply to this message
 
Old 05-04-2021, 03:18 PM
 
Location: Raleigh
13,639 posts, read 12,279,035 times
Reputation: 20058
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.
Reply With Quote Quick reply to this message
 
Old 05-04-2021, 03:53 PM
 
Location: Fort Lauderdale, Florida
11,936 posts, read 13,015,426 times
Reputation: 27076
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.
Reply With Quote Quick reply to this message
 
Old 05-04-2021, 05:26 PM
 
13,395 posts, read 13,418,689 times
Reputation: 35710
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.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top