Tag Archives: mortgage

A CALL TO ACTION

This is a call to action.  I sit here writing as I approach the completion of my “tell all” book about my personal experience of the illegal foreclosure of my home and subsequent lawsuit against Wells Fargo Bank for Fraud. The book has been a very difficult project to undertake, just as the lawsuit was, since I had to litigate my case personally. It’s been no easy task to take on one of the largest corporations in the United States, and I also found it daunting to write a book exposing the truth in a way that everyone is able to understand so that actions could be taken in order to create change to our broken systems. It would have been a lot easier to complete my book if the court had not silenced my case files.

My goal through all of this has been to expose the evidence I found which shows that EVERY deed of trust is based on fraud. This is because the banks know that the trustee is a strawman and hold no power in the deed of trust agreement to protect the borrower’s title from any wrongdoing from the banks, yet they fail to inform the borrower of this information and give the borrower a deed of trust agreement anyway. Therefore, there is never a “meeting of the minds” in the contract negotiations. The banks know this information because it was their lobbyists who constructed Senate Bill 1638, which was signed into law in 1996, by then CA Governor Pete Wilson. This law amended CA Civil Code 2934a, which is an integral part of the Power of Sale clause that pertains to a deed of trust agreement which dictates the rules of the non-judicial foreclosure procedure.

A non-judicial foreclosure procedure is used in a state using a deed of trust agreement. This procedure was instituted for use in order to alleviate any undo burdens against the court system by overloading the them with “frivolous foreclosure lawsuits”. In 1978, the CA Supreme Court issued a ruling in the Garfield v Superior Court for Contra Costa County, respondent being Wells Fargo Bank, specifically detailing the independence of the trustee in a deed of trust agreement. There is a presumption of correctness to papers being filed by the trustee in a non-judicial foreclosure procedure because the trustee is given the legitimacy of being the court as the trustee is to be independent in their oversight of the foreclosure process. There are 35 states in the United States that allow the use deed of trust agreements. All of the other states, which use standard mortgage agreements, are attempting to go through the transition of allowing the use of deeds of trust in real estate transactions. Let this sink in.

Since there was never a “meeting of the minds”, according to contract law and the Statute of Frauds, which is still valid law and dates back to the year 1677, then the contract is therefore based on fraud. Fraud in the inducement, fraud in the misrepresentation of facts, and much more. The fact that every deed of trust is based on a fraud legally means that every deed of trust is VOID. The fact that the contract is then VOID means that no borrower needs to pay back the funds to the lending party. The lending party should not have tried to use fraud in order to coerce the borrower into signing the legal documents. Due to their choice of using a fraudulent document in order to create a debt, they lose. The fact that no borrower needs to repay a fraudulent loan is not something that the banking industry wanted to have out into the public consciousness. If the fraudulent deed of trust was used as the instrument in the transaction in order to create the debt against the borrower who has paid any monthly payments to the lender for that fraudulent contract, then the borrower is due to have those payments returned to the borrower that were made to the financial institution who fraudulently collected on a fraudulent debt. Let this sink in. How long have you been making your payments, and how much would that add up to? Plus penalties…

Therefore the banks use every means available, including corrupting our judicial system by paying off and or putting pressure on those participants which might include; clerks of the court, bailiffs, witnesses, opposing counsel, court reporters, judges and district attorneys, the government, etc. I also wanted people to learn of the corruption in the legal system. The corruption I experienced by the court in my legal case, which is detailed in my book, is just one case out of the millions of illegal foreclosures across the country.

The above law, Senate Bill 1638, became effective as of January 1998. This allowed the banks to take a borrower’s note and title and use it as they see fit for their own profit without informing the borrower of that fact. This is another basis for the fact that there is not a meeting of the minds. The banks are able to profit from a borrower’s note by manipulating it on Wall Street and not having to give the borrower any percentage of profits from those investments. The borrower was never given the opportunity to profit in these investments which used the borrower’s title because the borrower was never given the information that the bank was going to be manipulating the title for profit. Therefore, the bank defrauded the borrower again through their misrepresentation of facts. You’ve heard of some of these types of investment vehicle at this point called Mortgage Backed Securities or Collateralized Debt Obligations, etc. These did not exist prior to the year 2000.

You see, in 1999, President Bill Clinton signed the Gramm-Leach-Bliley Act into law, therein repealing four key provisions of the Glass-Steagall Act. This Act is officially named the U.S. Banking Act of 1933, signed by President Franklin Roosevelt. These provisions were instituted to create a separation of banking powers of Wall Street and Main Street. In theory, Roosevelt was protecting the public’s assets because the restrictions did not allow Main Stream banks to gamble with their client’s assets in the same way that Wall Street does with their client’s investment portfolios. When President Bill Clinton repealed these provisions it opened the flood gates for Wall Street to begin to manipulate and gamble with Main Street assets such as real estate, car loans, student loans, retirement accounts, savings accounts, etc. It also allowed Wall Street to combine forces with Main Street banks which began the mergers and acquisitions of the banking industry to a consolidation to only a handful of corporations.

This consolidation created the current financial institutions to become what the Department of Justice’s, Eric Holder, called “too big to fail”.

So, what does this mean now?

Sign in and become a member to this blog for more upcoming detailed information. If you have a home in CA or any other state which uses a deed of trust, and you used a deed of trust agreement in any of your real estate transactions, or if you have been foreclosed on from your home, I urge you to contact me further through the contact page herein. Through the upcoming release of my book, there will be information which will instruct the reader how we are be putting together a class action lawsuit, and how the reader can become a part of that action. If you wish to participate in this process I urge you to contact this blog further through the contact page.

 

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I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

©copyright 2014-2016 Doug Boggs

The fallacy of loan modifications

The fallacy of loan modifications help move people toward foreclosure by the belief that the system is designed to help them.

I will start this by stating that I am actually an optimist. Although, it is getting more and more difficult to find that place in today’s world of finance and political and corporate malfeasance.

The arrogance and greed of Wall Street and Washington and the frustration and confusion of the citizens is the game. The mob mentality and the manipulation of fear is the fuel…This is the largest corporate/governmental land grab in history. As the government owns Freddie and Fannie, do to the failed bailouts, (these institutions back 90% of American home loans) and the other banks are making record profits after they received their bailouts, yet are foreclosing en mass and not lending, this tells the story. Quite simple really. When the people begin to believe the level of corruption, from BOTH parties, and the fraud and corruption on Wall Street, and ACT against it things will change. And it can change overnight. France is a good current example.

This will go down in history, that is if the future history books are NOT written in TX, as the largest governmental and corporate land grab in history. The people that deny that this is taking place are not living in the real world. The people that refuse to think the world is this way are not living in the real world. You MUST wake up in order to take back what Wall Street, The FED, and Washington has taken from you! This is a NON PARTISAN situation…

Most people are asleep, and in denial of the true actions taking place. People are walking away from homes before playing their last hand, because they don’t understand the game, their options, their state’s foreclosure laws, the banks legal options, or even the fact that they have the opportunity to challenge the bank. People are nervous about their credit more than they are their home. The world of credit scores as it existed is over and new lines and rules MUST be redrawn. All a FICO score is is a calculated measure of risk tolerance that banks use. Fair Issac, the FICO people, and the 3 credit score firms are also deep into their own fraudulent situations. The whole system is in free fall. The mass media is trying to pacify the people with falsehoods, mis and dis information so the entire system doesn’t simply collapse. Yet the people and “their own little” system of paying bills and having food on the table has collapsed. Understand that your government, a bank or any corporation is NOT ON YOUR SIDE. They can write off losses, or get bailed out. They care NOTHING about the loan holder, or card holder…

If you have stopped paying your mortgage, don’t start again until the bank gives you a new mortgage in line with the current values and percentages. They will send a letter of foreclosure to you, they will threaten you. Possession in 9/10ths of the law. Each state has different Foreclosure policies, timelines, and practices. Learn them!! When the bank forecloses, they must go to court. You should also go to court. There will be a moment when you can ask the court that the bank produce the ORIGINAL loan document to the property in question that has YOUR INK! Due to the fraud, corruption, and criminal activity on Wall Street and the packaging and repackaging of loans that took place, and is still taking place, over 80% of the time the bank is UNABLE to produce the appropriate documents. It is their obligation to supply that document as without it they are in NO position to sue for the right to foreclose. Then follow this with a lawsuit against the bank for harassment, intent to commit fraud, coercion, and along the way we can think of many others…repackage that into massive class action lawsuits…you know…

All of their threatening phone calls, threatening letters of intent is designed to get the homeowner to collapse under that pressure BEFORE it reaches the courtroom. Foreclosure court is currently at the advantage of the homeowner, and not the bank. Why else would the banks and those firms involve forge signatures. Because they don’t have original documents, because they know that they cannot win in court if the people begin to challenge. Now, put that en mass!! That is where the power lies!! They must forge because they cannot come up with the appropriate documents. The paperwork is lost in the shuffle of the Wall Street fraud and corruption of packaging and repackaging loans to resell on the open market. There are even options that traders can buy for options on loans. To trade on loan packages and the real estate market.People spend money to agents that say to them that they will help them with their failed mortgage. This is the one of the biggest frauds being perpetuated today. They tell the homeowner that they will help them with the mortgage company to refinance their loan into a modification. Then they take their money and walk away, knowing the people don’t have the money to sue and come after them for fraud. If the bank cannot help you, that agent cannot help you. And the banks are NOT helping people. Simple. Do not use these con artists.

It is more cost effective for the banks to play the …”oops, we pushed a wrong button” game, or “we didn’t get that paperwork” response. They do this to drag out the process. To wear down the people to a point that people give up or feel that they will lose in the long run, so cut the loss now and move on. People are in a state of confusion with their loss of money, jobs, pride, family turmoil to understand that the banks care NOTHING about helping people. It is the banks position to help their stock holder, thus the Wall Street suit can get the bonus…

It is so simple, but most people don’t want to believe that this is how the world is. IT IS… This is the world we live in. Believe it. The beautiful, wonderful world we live in also has very dark and shitty corners. Understanding this will HELP you live in it. Hiding and not wanting to feel that this is the case will NOT help you. That is his world and the world of the elite on top that create war for profit, buy the judges, lobbyists and congresspersons in order create rules and regulations that help them win in situations like we are in.This will end when people step up and challenge the banks, en mass.

How about this – Everyone simply stop paying all of their mortgages, and credit card debt. Let the banks try to come at every single person in the country begging. The money savings to the people will be put back into the economy in much more productive means than simply paying corporate debt. This corporate debt will be washed away anyway, through the corporate laws allowing them to buy down and write off their debt. The stockholders will take a hit, so sell before begin this process…But what about FICO score. FICO scores are already dead in the water. The credit system that was designed is over. FICO means nothing when the banks are not lending. They are finding it easier and more cost effective for the banking institution to foreclose.Consider this:Does the government REALLY want to clean up this mess or can they find ways to meander through it until the world “gets back to normal” all the while making massive profits along the way…

Okay, let me put it to you this way, and you take it for what it is…In July 2008, Indy Mac failed and was seized by the FDIC. The assets of Indy Mac bank were sold to One West Bank in March 2009. One West Bank was created and is owned by Goldman Sachs VP Stephen Munchen and Billionaires George Soros and John Paulson. All of the residential 1st mortgages were purchased at 70% of the par value of the loan, and all HELOC’s were purchased at 58% of the par value of the loan. Then, the deal these men made with our tax dollars via the congress and senate who agreed to the deal, was that the FDIC would cover 80%-95% of the losses due to any short sales or foreclosures. Now, these men bought the loans at 70% of the value and are guaranteed to 95% of their money back. But, here is another part of their deal. The losses that are guaranteed are to be calculated on the original loan balance. This leaves a spread of profit on the table of a minimum of 20%…GUARANTEED. They CANNOT lose. Your tax dollars are securing their profit margin.

So let me spell it out a bit more clearly…(This is a real real estate transaction) The foreclosed homeowner had a loan balance of $485,000. One West Bank paid @ 70% 334,600 for this loan. Now, this homeowner is offered a short sale from the bank or in the marketplace of $241,000. Now, the ORIGINAL loan amount is what the FDIC agreed to back the percentage loss to One West Bank (or should I say Goldman Sachs and friends). So the difference in the adjusted loss is $244,200. So, the FDIC writes a check to One West for 80% of the loss to the tune of $195,360. So, now you would add the $195,360 from the government, to the profit of the short sale of $241,000 to reach a total of $436,360. But wait, One West only paid $334,600 for the loan. You see, all the bank had to do was sell it for WHATEVER they wanted to…the bank CANNOT lose money on this deal…So, Goldman Sachs, I mean, it’s subsidiary One West Bank, just profited on the sale $101,760.Thanks to YOUR tax dollars and the arrangement with the FDIC, the Goldman Sachs, I mean, it’s subsidiary, One West Bank will be doing this every day, hundreds or even thousand of times for a few years to come…GUARANTEED!!!!

So, if you are still asking yourself “why is it so hard to get a loan modification?” the answer might be simply that there is TOO much money to be made with write offs, short sales, and foreclosures than on loan modifications…You see, Goldman Sachs, damn I keep doing that, I mean, One West Bank actually profited from the sale to the tune of $101,760 even though it was sold for a lesser amount than what they bought it for…DO YOU SEE, YET? DO YOU GET IT?And, by the way, the FDIC recently announced that it needs to start borrowing money from the Treasury. Now, the Treasury is the place where all of the Goldman Sachs people come from. You know, Hank Paulson, Meg Whitman, and so many others…

The Treasury is the government, who Constitutionally, has the right to print their own money, butcancelled this right in 1913 made a deal with the PRIVATE group of white, rich, elite men from Germany, Austria, Switzerland to create the PRIVATE bank called THE FEDERAL RESERVE. or known more commonly as, The Fed. Note, I said PRIVATE BANK called The FED…

Thanks for reading and coming back. I always enjoy the comments, emails and the banter!!

 

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I welcome those reading my story. I appreciate all of the emails I have been receiving. I also appreciate those who have registered and subscribe to this blog. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

©copyright 2014-2016 Doug Boggs

Statute of Frauds

I wrote in the last post about the Statute of Frauds in hopes that you might take a bit of time to review the rules that I specified in order to follow and learn, as I did, how my mind was beginning to learn and process information. I wanted to show you what questions began to arise and why. I want you to be able to expand your thinking, as I had to, so that you don’t do as I did and take any document on its face, as if it were legitimate, simply because it seemed official and it was registered in the County records. This, I began to find, means absolutely nothing.

As we were doing research, and we began to put our complaint together with our paralegal, specific questions began to arise. We were curious as to this new entity named NDEX West, LLC. This company was never part of our original contract paperwork. How could they be involved now at this point? We had no documentation sent to us previously regarding their inclusion into the contract. The foreclosure paperwork that began on Dec. 28, 2010, was sent to us by NDEX West. Yet, who are they? How do they have any part of our Deed of Trust? If they do have any participation in our contract where is the valid legal proof of this?

I thought that if the bank did not comply with the law, in the process of their attempts to foreclose on us, then they are in fact the party that is in Breach of Contract. If this new party, NDEX West, was not legally part of the contract then they have no right to be sending us documents on behalf of the bank. I couldn’t find any points that they did in fact have any right, and I felt that they could not legally prove that they have the right to initiate any part of the foreclosure process. As I have posted previously the rules which govern the foreclosure process, in the state of CA, are outlined in California Civil Code 2924.

(NOTE: Some codes have been rewritten or modified, or have become updated law. Remember to review the codes that are pertinent to the rule of law for the contract at the time of the crime.)

My pressing questions that were keeping me up at night seemed simple to me. How can the bank legally initiate the non-judicial foreclosure process by filing fraudulent information, beginning in the first document, named Declaration by Wells Fargo Bank, sent to the court regarding the foreclosure? In this document, if you recall, they checked a box which stated that they tried all attempts to contact us regarding our breach of contract, but failed to get a hold of us. This was a lie, since we had been in contact with the bank a few times a week for the previous year and a half in our lengthy attempts to modify our loan. We had previously been current on our payments, until they advised us to stop paying in order to better qualify for any modification program.

The bank checked the box relating to the code 2923.5(g) which stated that they had tried ALL of the numerous attempts outlined within that code to contact us, but were unable to. As the code read, that in order to comply with this rule, the bank would have had to comply with ALL of the items within the code. Not some, but ALL. Yet, the bank was stating their compliance with the code 2923.5(g), in that they could not find us. By checking this box in the Declaration, they were stating to the courts that because they claim to have made all of these attempts to contact us, yet were unable to contact us so, that because of this, they could begin the “fast track” process of foreclosure. They checked the box regarding CA Civil Code 2923.5(g), because they were claiming that they were unable to locate us in order for them to allow us to attempt to rectify our breach. So, in their submission of this document to the County Recorder’s Office they committed a fraud against the court, therefore the bank is in breach of contract.

I began to research Fraud itself. As I was doing so, I came upon what is known as the Statute of Frauds. The Statute of Frauds (29 Car 2 c 3) (1677) is an Act of the Parliament of England enacted on April 16, 1677. This rule of law is still active and pertinent law in the United States. It required that certain types of contracts, wills, and grants, assignment or surrender of leases or interest in real property must be in writing and signed by all parties involved to avoid fraud on the court by perjury and subornation of perjury. It also required that documents of the courts be signed and dated.

Let’s look at this for a moment. The contract that we were dealing with was a Deed of Trust mortgage contract. This means that it was dealing with real property. Ok, check.

Was it in writing? Yes, check.

So, then if all assignments or surrender of interest must be in writing, were they? Did our original trustee sign off their interest to this new entity, named NDEX West? No.

Was it done in writing? No.

Did all parties sign off on this? No.

Did the bank lie, or commit a fraud against the court, in their stated attempts to contact us regarding our breach? Yes.

Can you start to see how things can begin to formulate themselves? We are still in the early stages of all of this, but I think that you can begin to see that, in my case, beginning from the first document, that the banks began to defraud the court in order to quickly foreclose on us and not allow us the opportunity to rectify any breach. You can begin to see that the non-judicial foreclosure system which allowed the bank to defraud the court is indeed flawed. You can begin to see that there is no true oversight to the documents that the bank was submitting to the court. You can begin to see that the Count Recorder’s office is not in the position of verifying the legitimacy of documents to be submitted, but recording documents to the county record. They record the document, they do not verify the legitimacy of the contents of the document. That, I began to learn, was the job of the Trustee.

So, the Trustee we had on our Deed of Trust, named Golden West Savings Association Service Company, did not do their job correctly. As the Trustee of record they did not verify the legitimacy of the documents being submitted to the County Recorder’s Office. They were not the entity submitting the documents that were initiating the non-judicial foreclosure procedure against us. They did not legally transfer any part of their right to title to any other entity, namely NDEX West. They did not inform us of any transfer of any of their rights. Because there was not legal transfer done.

I welcome those reading my story. If you have come from Facebook please comment on this site, rather than any Facebook post of this page due to the fact that there are many readers who are not part of Facebook forums, or even Facebook itself. I encourage all readers to put their comments on this site so that all of the information will be accessible to all readers from all parts of the internet. I urge you to join this site and receive the RSS feed, or bookmarking us, sharing us with your friends on Facebook and Twitter. If you know of anyone who might benefit from this information I urge you to pass on this website address! Share and let’s make some change together!

Thank you for stopping by.

©copyright 2014 Doug Boggs