Hey Gang!
Check this load of crap out...
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Click on the "fraud" link
Pretty funny. They prey on people not educated enough to know what they are being told is BS. Read the accounting on the home, the part about the bank ending up with $190,000 profit on your home after the sell the note.
They prey on the fact that the reader will be too stupid to do the accouting. Leaving out facts in the hopes that they will not know the right questions to ask.
Here is some of this load.....
DID YOU GET WHAT YOU BARGAINED FOR?
Here are some serious questions that the above scenario of a loan transaction naturally raises. Unless you have been living near a nuclear power plant for the past twenty years.
PRIMARY QUESTIONS
1.. Does the bank raise an asset to itself, in addition to the liability? 2.. Was this disclosed in the contract? 3.. Was I compensated for the bank using my note, and my signature, to raise this asset to the bank? 4.. Was this account containing the asset for the bank, opened before the bank received my note? 5.. When I pay off the loan, who gets the asset the bank raised to itself, with my note? QUESTIONS DERIVED FROM PRIMARY QUESTIONS
1.. Is, there fraud Here? 2.. If there is fraud here, what are the damages? QUESTIONS THAT MAY LEAD TO THE DISCOVERY OF FRAUDULENT DAMAGES
3.. Was there inducement?(Advertising, Solicitation) 4.. What does the note represent? (Your promise to pay) 5.. Where will you derive the funds to pay? (From your labor) 6.. Is your labor, your property? (Duh! ) 7.. How many years will you be paying on this note? (5, 10, 15, 30) 8.. What is the interest rate? (8%, 10%, 12%) 9.. Is that interest rate compounded annually, monthly, weekly, or daily? 10.. What is the actual rate of interest? (25-50% ) 11.. Does this violate the Usury Laws? (12% or higher annual interest rate) 12.. Was this disclosed in the contract as required by the Federal Usury Disclosure Act? 13.. Did the bank raise an asset to itself on your hand written name? (Without your knowledge and consent) 14.. Did the bank use the note first (before) you received your loan, to raise the funds for the loan? (Did they sell it, or use it for collateral for a loan from another institution) 15.. Does this make the note a negotiable instrument? (Tendering a future earnings instrument for consideration to a third party and endorsing, "without recourse.") 16.. Did the bank properly apply the proceeds from your note to the purported debt? 17.. What did the bank do with those proceeds? (Look at the building) 18.. Who else is deriving a benefit from your note, (and hand written name) without your knowledge or consent? 19.. Have you been damaged? You will have to decide if there is fraud here. But, if you get a Complaint to Foreclose your Mortgage and you do not answer and dispute every allegation, then you must counterclaim. What do you think a good counterclaim might be?