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Citi - No Note - Foreclosure Scam

Submitted by HawaiianDude on Fri, 02/19/2010 - 09:02
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The 6 Month Citibank Stay in Your House foreclosure deal is a trick.

Thursday Night on Coast To Coast AM the guest, Greg Hunter, said the following...

All these securities hiding the original note is a big deal to the banks.

So Citi appears to be benevolent by letting people stay in thier house for 6 months If They Sign Over The Note.

Citi needs this to lock the foreclosure in place because they may not have the original note.

The

courts apparently accept this note sign off by the owner even if Citi has no leagal original claim to the note.

This was all on the radio - there is no linking document, article, or audio.

Greg Hunters website is here http://usawatchdog.com/ but there is no specific atrticle about this.

And of course CoatToCoastAm is here http://www.coasttocoastam.com/ but I assume that is in most DP members shortcuts already.

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bump for the

Submitted by highwithaltitude on Fri, 02/19/2010 - 10:13.

good

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bump for important

Submitted by quiltingsando on Fri, 02/19/2010 - 10:11.

information.

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as far as the note goes, we

Submitted by troyusaguy on Fri, 02/19/2010 - 09:49.

as far as the note goes, we are the grantor of that note, If the bank isnt going to use it as payment bill them for the full amount of it for 90 days create an accounts receivable. then move against them to pay you, its more in depth than this, but the concept is simple

So the load mod programs are just a scam

Submitted by liberty4us on Fri, 02/19/2010 - 09:44.

to get their documentation in place to foreclose later?

Sounds about right.

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Never Thought about That

Submitted by HawaiianDude on Fri, 02/19/2010 - 09:57.

Whoa - That is a really important point. This probably bigger than Citi.

I think this is absolutely true...

Submitted by elviejo on Fri, 02/19/2010 - 09:07.

I posted an article the other day on Bank of America foreclosing on a house that was paid for in cash.
http://www.dailypaul.com/node/

I don't think many of the notes exist and they are just estimating where they might have them. Otherwise how could BofA have made such a mistake!!!

Catch them at their own corrupt game, folks. DEMAND the original note and see if they have it.

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I just sent mu demand

Submitted by paul4won on Fri, 02/19/2010 - 09:35.

We are trying to do this right... We are NOT behind in payments, we had an attorney send the request, and I verified they received it. We are at day 7 of 20 business days for them to respond...
Perhaps most importantly, if I have to walk away from this house tomorrow, I will. I might call that Terry guy first, see if I can borrow his rig... ;)

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Truth exists, and it deserves to be cherished.