Supporting, Informing & Connecting People in Foreclosure
Please anybody that can chime in.
Even though I keep hearing the excuse that the Deed of Trust is not a BiLateral Contract because it is "executed" by just the borrowers signature how can this be true?
Because of the Lenders requirements to RESPA and the usual statement regarding the Sub of Trustee procedure that is usually included and the fact that both of these are strictly defined by law, doesn't that create a BILATERAL CONTRACT TO PERFORM BY LAW? It doesn't have to even be mentioned in the deed if it is.
Why is it not a BREACH OF CONTRACT for FAILURE TO PERFORM BY-LAW? where by loaning money for a mortgage the lender takes the responsibility TO PERFORM, being REQUIRED BY LAW to respond to QWR's not only in the absolute, but within a LEGAL TIMEFRAME. I have been stating this for 2 years now as one of the many BofA/Lender DEFAULTS that the Borrowers have no recourse to record.
Failure to respond, as is LEGALLY REQUIRED, to multiple QWR's over a 9 month period IS a breach of the contract to me, long before I ever stopped paying them.
Also every DOT that I have read specifically states the procedures to Sub Trustee. In my case that was screwed up and not followed per the DOT. Doesn't that create another Breach of Contract by Failure to Perform By Law?
Just having a brain fart and thought I'd see what you thought.
SMILE & Be Good
You are probably not going to get much relief from these violations, you need to find out where the Note was sold.I have talked to other people that have won small victories, but it appears that the real issue is the Note.
I would definitely get someone to determine whether the bank has a right to your house and payment. I got a free mortgage audit from www.inspectoraudit.com These guys are awesome! I have not found anyone that will get this information for FREE to you, it helped me stop a foreclosure a few days before the sale. I am not usually a person to recommend someone, but I think in this case these people helped me and may help someone else who is in trouble when the bank is trying to steal their house. They will give you a FREE AUDIT!!!
When I got my mortgage audit back, I was STUNNED to find out that my Note had been sold into some kind of investment pool, and the bank did not have the right to continue to collect on me, much less foreclose on me. From what I understand that selling the notes into these pools is very complicated and I don't really understand it completely, except that the Note is no longer a Note, the bank cant claim it anymore as a Note, and the bank has already been paid for your mortage!. They try and steal your house after they have been paid for it!! I was upset when the bank started the foreclosure on me, now I am really upset for a different reason, because they are committing fraud on me.
MY FORECLOSURE HAS BEEN STOPPED DEAD IN ITS TRACKS!! The bank was committing fraud on me and trying to take my house and they cant now, I have a lawyer that is using the the audit I got from inspectoraudit.com and he is turning the tables on the bank. I love it and I feel so empowered now! Being on the offensive is much better than being on the defensive. Good Luck with everything!