Clearly, we are in uncharted waters in this economy. Clearly, the banks have committed so much fraud behind the scenes. Clearly, uncharted waters brings new ideas to solve new problems. Clearly, the general public does not understand all the inside legal ramifications of what's going on with bank fraud, quiet title, Occupy Wall Street, etc...Scammers are always abound.
We are in uncharted waters because many millions of people have lost their jobs, their homes and their dignity...they feel embarrassed. And, many more millions are upside down in their homes where they owe more than their home is worth. THESE FAMILIES who are upside down, CAN'T STAY in their homes because they cannot stomach paying and overpaying when the value is not there, they are either over or under qualified for the pretend loan mods, and it take the banks sometimes over a year to decide that after they are told to stop payments for 90 days to begin a default and screw up their credit. So, with foreclosure around the corner, many just walk away from their homes. They also CAN'T SELL because the buyer would not bring enough $ to the table to payoff their debt, and a short sale (paying the bank less than what's owed) can bring the dreaded 1099 or deficiency judgement where they still legally owe $ (the difference).
The banks have committed so much fraud it's unfathomable. In order for the banks to make big $$$ by quickly selling pools of Promissory Notes to other companies, they created the Mortgage Electronic Registration System.
MERS destroyed many millions of original mortgage docs that tied homeowners' promissory notes to the properties as liens. During foreclosure process, the courts required original docs (note and mortgage), so the banks proceeded to replicate the originals, illegally fabricating docs, using high tech signature forging and illegal robo-signers. It was a big business; on May 13, 2011
"CBS 60 Minutes" covered the story. In addition, most promissory notes were
securitized, placed in multiple portfolios and insured. So, when a large percentage of notes in one portfolio defaults, the portfolio defaults, and AIG or another insurance company paid 100% of the portfolio in full. This means that: 1. Some notes were paid in the portfolio that were not in default, and
2. YOUR NOTE, YOUR HOMEOWNER DEBT, WAS PROBABLY PAID IN FULL THRU MULITPLE PORTFOLIOS. Documented proof can be found thru a
Bloomberg Data Securitization Report. All 50 Attorney Generals, and the
Federal Housing Finance Agency are currently sueing the banks. You can too, by obtaining your promissory note's secritization report which is 100% proof, and then filing a quiet title lawsuit with an attorney. It is happening in all 50 states.
With HUGE, uncharted problems comes new solutions. Smart Sale Leasebacks are only possible because of the BANK FRAUD, and
Quiet Title is the "Ace in the Pocket" for every deal. The investor requires the deed from the homeowner, to become the homeowner and provide standing to negotiate the note with the bank. The bank is willing to negotiate to clear their books of bad debts, and free up cash reserves for future lending...plus they know we hold the ACE.
In a
President Clinton interview, he states: that we need to "accelerate the resolution of the housing mortgage crises", "flussh out the debt", and for people who owe more than their house is worth, offer multi-year "leasebacks".
Bank of America lease backs began on Dec 9th, 2011.
Using Real Funding Parnters, the original homeowner becomes a tenant with many benefits:
1. Recorded 1st right of refusal to buy the house back.
2. 2009 Tenants Act allows them to stay in the home during the entire lease period...3-7 years.
3. Temporary Restraining Order stops bank from further derogatories against their credit.
4. Real Funding Partners requires the bank to not produce a 1099 or deficiency judgment.
5. RFP also requests that the bank reports "paid in full" to all 3 credit bureaus...credit improves.
6. The rent is roughly half of the original mortgage payment...monthly cash flow improves.
7. 60% of this rent goes towards the buy back.
8. Buyback is at 90% of the future market value as determined by 2 appraisers.
9. 90% sale, less 60% rent towards purchase equals apprx. 80% ltv, 20% equity, and no pmi.
10. They are not required to buy back.
11. RFP expects to offer optional financing.
Regarding RFP vs. Bella Homes: RFP is currently using Bella Homes as one of their many investors/programs. RFP works with many other investors/programs offering Commercial Loans, Consumer Finance, Merchant Cash Advances, and more...growing with real commissions, and overrides from people you directly signup...1 level deep. Personally, I have not heard of any pressure to be on a conference call. And, personally, I would like to see some posts from happy and unhappy clients. Finally, the Bella Cease and Desist is from the Georgia Dept. of Banking and Finance...it seems that homeowners, negotiating their own notes, would not be regulated by this department. Are they stopping BAC from doing leasebacks in GA as well?
In summary, the banks committed massive amounts of fraud, and it's time for the public to fight back. FTC's recommendations are outdated. The two best current methods are:
1. Quiet Title: Duke it out in court. The courts make many wrong decisions, so it is a risk. It can be very stressful, and last quite awhile without knowing the outcome. You can possibly get your house free and clear, or lose, or somewhere inbetween.
2. Smart Sale Leaseback: Virtually guarantees you to stay in your home with a lease, protected by the 2009 tenants' act, and eliminates stress immediately. Pay low rent for 3 years or more, and buy it back with 20% equity. This is a very SMART solution for families who qualify, and are upside down on their home. This is what President Clinton advises.
When people don't completely understand, they believe it may be a scam. There are many scammers demanding money upfront, and selling bogus Bloomberg Securitization Reports for Quiet Title. However, Quiet Title and Leasebacks are successfully occuring across the U.S...they are not false hopes! For more information on Quiet Title, Bank Fraud, and Sale Leasebacks visit EICHomes.com.
