How to settle a mortgage

[undeadcreature]

Originally Posted by nevis

i cant be precise on the offence as was only told once and the convo went far deeper than that but apparently she overtook a bus where she wasnt meant to and the under cover cops were behind her.they followed her and she seen them but didnt no they were cops so she got scared thinking it was two men angry at her and tried to get away from them until eventually they caught up with her

If the judge agrees and finds that the unmarked police car was being intimidating or provocative, it could work in her favour but I wouldn't get her hopes up though.

shes gonna try and go all the way with it cancelling her drivers license and everything else she thinks ties her into a contract with the state.

I forgot to address this point.
If she wishes to send her license back to the DVLA she can do it using this:

http://www.direct.gov.uk/en/Motoring...ers/DG_4022414

Although you don't necesarily need a medical reason to send your license back. However she wouldn't be able to drive on the public road anymore and would invalidate any insurance she has.

Mr Galt is right though, have a careful read of the fine print on the FOTL websites or whatever, especially if she has paid for the information.

[rumpelstilzchen]

Originally Posted by nevis

i tried to reason with her until she started to criticise me for not doing anything to learn this information.she took offence to me wanting proof that this info works and started digging at me for not doing enough to try and change the system.lets just say it was a heated convo which took me by surprise so i thought let me go and research this knowledge and see if its all its cracked up to be and to be honest the lack of response from the people who promote this info has nearly confirmed to me that i should use my energy else where

The claims made by those that state the application of fotl has validity in law are (to use a technical legal term) bollocks.

[gauises]

This is where you can find real information on mortgages


www.cmhc-class-action.com

[aulus agerius]

Originally Posted by gauises

This is where you can find real information on mortgages
www.cmhc-class-action.com

Really? That seems to be a website by someone who didn't pay their mortgage, tried to sue their lender for some imagined fraud and lost their case at summary judgment. The judge said (at para 30): "Parties should not be discouraged from litigating legitimate actions. Here, the plaintiffs’ allegations were utterly and obviously without merit. I find the plaintiffs’ allegations of fraud against the defendants amount to reprehensible conduct that is worthy of rebuke. I am satisfied that an award of special costs is appropriate given the circumstances of this case."
Judgment

On their website they can't even get mortgagor and mortgagee the right way round. No a brilliant source of facts about mortgages...

[jackieg]

Originally Posted by gauises

This is where you can find real information on mortgages


www.cmhc-class-action.com

My money is on this....
The Bank Act.
The contract you signed along with the "signature cards" to open an account.
Rules and forms for court.

[aulus agerius]

Originally Posted by jackieg

My money is on this....
The Bank Act.
The contract you signed along with the "signature cards" to open an account.
Rules and forms for court.

Random Sentences.
Disjointed.
Is this a Haiku coming?
Let's see you win in court.

[rumpelstilzchen]

Originally Posted by jackieg

My money is on this....
The Bank Act.
The contract you signed along with the "signature cards" to open an account.
Rules and forms for court.

Still no proof of this "method" working, jackieg?
No?
Thought not.

[rudefuss]

I was wondering what the repercussions would be if everyone that had a mortgage tried and succeeded with this or any other method. I imagine it would either drastically affect house prices one way or the other probably to the detriment of your average householder. Not that it matters much but I live in an area where the average earner (includes myself and partner) cannot afford to buy a house. hoping for sensible replies

[bikerdruid]

How to settle a mortgage?

simple.
if you signed for it, pay the fucking thing.

[cmyk and pms]

One of the oddest things that FMOTL have come up with is their method for getting out of paying their mortgage that they promised to pay. The method involves trying to prove that the contract was not valid. Their ideas for this of course are nonsensical but the weirdest thing about it is even if they are right and they manage to prove the contract wasn't valid they ignore the obvious glaring flaw in their cunning plan.

If the contract isn't valid then they have to relinquish the house that they acquired through this invalid contract. They are left with nothing. Which in their world I guess counts as a win.

[trux newman]

Originally Posted by cmyk and pms

If the contract isn't valid then they have to relinquish the house that they acquired through this invalid contract.

Awh come on, that's like giving away a magicians secret. Shhhhhh!

[cmyk and pms]

Awh come on, that's like giving away a magicians secret. Shhhhhh!

OOPS, I've said too much. Pay no attention to the man behind the curtain.

[rudefuss]

If the contract isn't valid then they have to relinquish the house that they acquired through this invalid contract. They are left with nothing. Which in their world I guess counts as a win.[/QUOTE]

Excellent point there. Cant wait for the tirade of abuse (or denial) that will follow.

[reverendjim]

Originally Posted by cmyk and pms

One of the oddest things that FMOTL have come up with is their method for getting out of paying their mortgage that they promised to pay. The method involves trying to prove that the contract was not valid. Their ideas for this of course are nonsensical but the weirdest thing about it is even if they are right and they manage to prove the contract wasn't valid they ignore the obvious glaring flaw in their cunning plan.

If the contract isn't valid then they have to relinquish the house that they acquired through this invalid contract. They are left with nothing. Which in their world I guess counts as a win.

no, actually i think they want the bank to prove that they actually hold the note. i guess if i found myself suddenly the judge in such a case i would demand proof of the banks claim as well. but thats just me.

[reverendjim]

Originally Posted by rudefuss

I was wondering what the repercussions would be if everyone that had a mortgage tried and succeeded with this or any other method. I imagine it would either drastically affect house prices one way or the other probably to the detriment of your average householder. Not that it matters much but I live in an area where the average earner (includes myself and partner) cannot afford to buy a house. hoping for sensible replies

dont feel bad. you wouldn't really own it anyway.

[cmyk and pms]

no, actually i think they want the bank to prove that they actually hold the note. i guess if i found myself suddenly the judge in such a case i would demand proof of the banks claim as well. but thats just me.

I said one of the methods.

You're given a copy of the mortgage when you sign it; this copy is as valid as the original. It explains that they have the right to sell it at any time. If you don't like the terms; don't sign it. It is your responsibility to keep the copy. It is not the banks responsibility to supply it to you every time you ask for it.

[bikerdruid]

Originally Posted by reverendjim

dont feel bad. you wouldn't really own it anyway.

exactly.
if the mortgage is shown to be invalid, it is 'invalid' for both parties..

[cmyk and pms]

exactly.
if the mortgage is shown to be invalid, it is 'invalid' for both parties..

The most interesting part of trying to invalidate the contract is if you do both parties are to be returned to the state they were in prior to it. You give the house back and the banks give you back the money that you paid so far. It gets fun now because of the theory of unjust enrichment you have to pay the bank rent for all of the time you lived in the house. In many areas rent is more than a mortgage for a comparable living area so you will owe them money. So you lose your house and have to pay the bank. A real FMOTL win!

[tien an]

Originally Posted by bikerdruid

exactly.
if the mortgage is shown to be invalid, it is 'invalid' for both parties..

I think the good reverend is alluding to the fact that once you 'buy' it...you don't hold 'allodial title' to the land, rather it's 'fee simple'. (you're still going to get taxed on it and it ultimately belongs to either 'the Crown' or 'eminent domain').

tian an.

[aulus agerius]

Originally Posted by cmyk and pms

I said one of the methods.

You're given a copy of the mortgage when you sign it; this copy is as valid as the original. It explains that they have the right to sell it at any time. If you don't like the terms; don't sign it. It is your responsibility to keep the copy. It is not the banks responsibility to supply it to you every time you ask for it.

I'm afraid you've missed the point (which, despite being made here, is a legitimate one). This isn't about providing a copy of the original agreement, but determining who has the right to foreclose. This is sometimes an issues because the original lender is not the one attempting to foreclose: it has sold its rights over the mortgage to a third party, typically as part of the mortgage securitization process. Often the rights to foreclose is sold more than once. Records of these transaction are not always good and confusion can arise. There have been various court cases, brought and defended by proper lawyers, about these issues. There was even one cases involving a bank arguing about who owned a particular batch of mortgages. I think that this is the issue Rev means when he talks about "hold the note".

Who exactly has the burden to prove how owns the mortgage (and therefore has a legal right to foreclose) rather depends on state law and different courts have come down differently about this and related issues.

On the other hand, this isn't really an issue elsewhere: land registration in England effectively prevents this issue from arising: the owner of the mortgage is whoever the registry says it is, a copy of the registry entry is required in an action to repossess the property and there is no non-judicial foreclosure process.