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Landmark Decision Promises Massive Relief for Homeowners and (BIG) Trouble for Banks!!!

The stunning truth about why the bank bailouts occured comes towards the end of the article. This...is...amazing...stuff.

Ellen Brown, September 19th, 2009
http://www.webofdebt.com/articles/mers.php

A landmark ruling in a recent Kansas Supreme Court case may have given millions of distressed homeowners the legal wedge they need to avoid foreclosure. In Landmark National Bank v. Kesler, 2009 Kan. LEXIS 834, the Kansas Supreme Court held that a nominee company called MERS has no right or standing to bring an action for foreclosure. MERS is an acronym for Mortgage Electronic Registration Systems, a private company that registers mortgages electronically and tracks changes in ownership. The significance of the holding is that if MERS has no standing to foreclose, then nobody has standing to foreclose – on 60 million mortgages. That is the number of American mortgages currently reported to be held by MERS. Over half of all new U.S. residential mortgage loans are registered with MERS and recorded in its name. Holdings of the Kansas Supreme Court are not binding on the rest of the country, but they are dicta of which other courts take note; and the reasoning behind the decision is sound.

Eliminating the “Straw Man” Shielding Lenders and Investors from Liability

The development of “electronic” mortgages managed by MERS went hand in hand with the “securitization” of mortgage loans – chopping them into pieces and selling them off to investors. In the heyday of mortgage securitizations, before investors got wise to their risks, lenders would slice up loans, bundle them into “financial products” called “collateralized debt obligations” (CDOs), ostensibly insure them against default by wrapping them in derivatives called “credit default swaps,” and sell them to pension funds, municipal funds, foreign investment funds, and so forth. There were many secured parties, and the pieces kept changing hands; but MERS supposedly kept track of all these changes electronically. MERS would register and record mortgage loans in its name, and it would bring foreclosure actions in its name. MERS not only facilitated the rapid turnover of mortgages and mortgage-backed securities, but it has served as a sort of “corporate shield” that protects investors from claims by borrowers concerning predatory lending practices. California attorney Timothy McCandless describes the problem like this:

read more here:
http://www.webofdebt.com/articles/mers.php

Her websites are www.webofdebt.com and www.ellenbrown.com.




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Does anyone know

how one would find out if their mortgage would go through MERS if it was to be foreclosed on?

I have been studying this

I have been studying this immensley for a little over a year. Go through your mortgage and read every word, pick apart what each word means, we assign the propertey back to the purported lender, the promisory note paid the house off, then we turn around and assign it over to the bank. Its hard to wrap your mind around that. I currently am in a law suit against CITI the wall street journal is watching my case, it would be a land mark case in my state, so we will see. Im also seeing the political agenda swing against the banks as propertey values drop so drastically.

ok.... this must be FRONT PAGE NEWS!!!

only question I have is ...are there any lawyers that know this well enough to represent REAL AMERICANS WHO ARE SICK OF GETTING SCREWED BY THE FED??? (via mortgages...that is)

Bump

this helped explain a lot.

The stock market sure didn't

The stock market sure didn't see it that way. The bank index is up 2.27% today.

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"Fully half the quotations found on the internet are either mis-attributed, or outright fabrications." - Abraham Lincoln

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Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

This is great

but I don't think defaulting in mass is going to very good to the stability of our contracts and financial health in terms of total loss of trust in our banks and ourselves as honorable creditors....we have commercial remedies available to us that if we utilize could dramatically improve our bond ratings on the market by paying down debts with our "credit" ....the chinese would be our best friends if we paid them back....the banks owe us credit from all the gold/silver/allodial titles they "borrowed" from us plus interest SINCE 1933! It is the "private" side of a bank...we can create our own "private" financial instruments solely used for offsetting debts and taxes in publically funded institutions (banks) with our "credit" thus actually "paying" for it instead of indebting yourself further...ie if you pay a $100k mortgage debt/promissary note with $100k in "FRN's, checks, credit cards, debit"/ PROMISSARY NOTES ...you "paid" 100k in "debt notes" and now owe $200K...so how can you "own" anything...you cannot "give" anything of real value (paper money) in exchange for something of real value (house)....you cannot OWN anything...

OWNERSHIP=DEBTOR

Legal Title holder=Control

you can only control it (the legal title to it)...but if you control it till you die...who cares? one secret of life OWN NOTHING...CONTROL EVERYTHING!

I am in the process of freeing myself and would encourage people to be bold and take the plunge....it's an amazing world if we would stop complaining and find an actual solution

Your argument denies one critical element....

Reality....albeit 'perceived' reality.

Instead of a debate (which is in effect only philosophical because there are about 10 people in the whole culture who even understand what the hell you're talking about) about the stolen gold and the worthless debt notes, you can still (time's running out) take the FRN's and buy up real productive assets (farmland, natural gas rights, water rights) and when the currency shits the bed you still hold unencumbered (except for local taxes) real assets that support life while the masses run around burning down government buildings.

~~~~~~~~~~~~~>>>>"Is Anybody Out There?"
http://www.youtube.com/watch?v=fXaXV2OZmLw&eurl=http%3A%2F%2...

"honorable creditors" It's

"honorable creditors"

It's simply a contract. I'm not sure how honor got into it.

This is not new every

This is not new every mortgage in America is a fraud. People have been winning and zeroing thier mortgages for several years with this information. Several of us have been trying to tell you guys this for sometime but certain idiots keep coming out of the woodwork to derail any of those threads.

The banks create money on your signature when you sign the promissory note. For instance of you sign a $100,000 promissory note they deposit it, ledger it as a deposit of money and can now loan 900,000 based on your note. They just created the money out of thin air You just made the bank $900,000 dollars richer in less the five minutes. And what did you get in return? The privilege of paying them almost another $300,000 over the next 20 or 30 years of your life. How generous of them...

Shouldn't the bank be paying you for making them 1.2 millions dollars richer in a matter of a few minutes it took you to sign the note? Further more they did not lend you anything in the process but led you to believe they did that is fraud. People win in court all the time because the bank cannot prove they loaned you money, but in fact defrauded you into paying them money based on nothing. Not to mention they sold the note again on the discount market and made another cool million by leveraging what ever they got for the note based on fractional reserve again.

This is how they blew the real estate bubble up and inflated the economy till it crashed. The make trillions off these notes 24/7 and FRN's are just petty cash in comparison. And it all off our backs or signatures. They have stolen the wealth of this nation with this scam.

Wake up!

-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

But

you got the house and the builder got paid off, soooooo doesn't that mean that the bank did lend you the money????

No they lent you nothing

No they lent you nothing and you didn't get the house you got to rent it for the next 30 years! But pay the rent for 29.9 years and miss the last payment and guess who will evict you.

The contractor got paid with money you created on your signature along with everyone else. You enriched everyone else and got enslaved for 30 years for your troubles.

-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

They get triple what the builder got and they pressed a button

It's insanity. Does this method work from day one?

see jerome daly

google jerome daly

Wonder what happens

to all the people who have already lost their homes?

Is this the derivatives mess?

Could this be the straw that

breaks the camel's back?

not sure

who it was that said it, perhaps Michael *statist* Hudson...........but it was something along the lines of.......the lower the income a person has the stronger they feel about paying off their debts being the honorable thing to do...........which when you look at how the banksters lost all our money gambling with it, then decided we were going to pay for those losses with more of our money and kids money...........i kind of find that statement making more sense now.

Sending this out to a few friends

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!

thanks!!!!!!!!!!!!!!!

Those who expect to reap the blessings of freedom must. like men, undergo the fatigue of supporting it.-Thomas Paine

The R3volution requires action, not observation!!!!

Wow... We'll see how the banks handle this one.

"Countless people will hate The New World Order and will die protesting against it"- H.G Wells - The New World Order (1939)

"Human beings with love and compassion are some of the most beautiful creatures in the universe... Those without are a plague on us all."

Very interesting:

My Mortgage has been bought and sold so many times, I have no idea who has the original note.
But over the years, I have refinanced it a few times and shortly after I do, citibank always ends up with it. Which is why I had done the re-fi in the first place. To get away from them.
Wish I understood the way out of it completely.
I have had it on the market for 6 months in hopes of moving to somewhere cheaper and no mortgage.
Wouldn't it be wild if everyone just said ef it, and let their places go to foreclosure?

~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

Read that

if you ask for & Demand the ORIGINAL note/title & they cannot produce it (due to changing hands so many times), that you no longer owe. The idea being how can you owe on something that doesn't exist. Would be your word against theirs that you own the property outright as well as living on & possessing it. It was on Yahoo front page about 8-10 mos. ago.

Obama = O.ne B.ig A.ss M.istake A.merica

Obama = O.ne B.ig A.ss M.istake A.merica

I said ef it

to all the banksters...Be wild like me Tramp!
_____________________________________
Who gives a cluck. Just make it a clean egg-sit.

As a rule of thumb:

I have been an outlaw to the system since I was a very young person.
Now I am fifty with very little left in the way of legs and hang on for dear life to make sure I have a roof over mine, and my children's heads.
I have actually been trying to sell it for about six months now with no luck.
I have also been studying on how to make certain that when I buy again, it is paid in full, that it is titled properly, and I will then work on taking back my straw man. I also want to do away with this drivers license thingy. If I could get out from under this mortgage right now, I would. But I'm just not the sharpest knife in the drawer yet and am afraid to take the risk. I don't want to be another disabled person out on the streets just yet. But my heart has always been in the right place and I sure hope to learn how to beat these bastards before I move on to what may or may not be a better place.
I want to die a free man.

~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

reedr3v's picture

Good luck to you Tramp, I hope you've

been reading the excellent information at http://www.mercola.com/ to do everything possible to help your body recover. Subscribing to his e-newsletter is free.

HEY Yea, I like Mercola:

I receive his news letter constantly and there is allot of great stuff going on with his website. I have learned a great deal and shared him with people that have really helped them. I am an amputee on one leg, and the other is rather damaged too. I got a bad blood transfusion back in 89 after the crash that damaged me. I try real hard to take care of myself and teach my kids what they should and shouldn't be ingesting. But I may not be as disciplined as I should.
But I'll say this. For a man that has been through all I have in life, I have done some amazing things. I still act like I can do it all like when I was in my 20s.
Thanks for the well wishes.

~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

~~~~~~~~~~~~~~~~~~~~~~~~~~
I love my country
I am appalled by my government

good stuff

good stuff

GR8 info

Good post - MERS - all mortgages through MERS lists the lending bank on the mortgage. I do title work.

Detective Krum Investigates:
http://victory1project.wordpress.com/
http://v1-p.com/

Detective Krum Investigates:
http://victory1project.wordpress.com/

I wish everyone would

I wish everyone would default en masse.

If everyone defaulted en masse,

and the banks originating the loans were forced to buy them back, it would wipe out many banks.

But since most of our money supply is bank debt (your checking and savings accounts) there would be a massive contraction in money supply; deflation.

The only money that would be left in circulation would be federal reserve notes.

"Bend over and grab your ankles" should be etched in stone at the entrance to every government building and every government office.