Home Forum Contact Create an Account Sign In Create a Trust

live free and clear

This topic contains 63 replies, has 0 voices, and was last updated by Avatar of jazz2jazz jazz2jazz 11 years, 9 months ago.

Viewing 15 posts - 1 through 15 (of 65 total)
  • Author
    Posts
  • #5953
    Avatar of jazz2jazz
    jazz2jazz
    Member

    in my reading of the website material i have come across this paragraph on pp.7 of the first document:
    “when you purchase the house. you bought it with your own signature on the note. free and clear at that moment. did you know that? did they tell you that? no. they take a note, slap an “allonge” on the back and turn your note into a “draft”. it is called an illegal conversion. a draft is “an order to pay”, not a promise to pay. they got paid in full. so how come you still have to pay them anything? good question.”
    it is certainly unclear to me:
    1) the bank got paid by who?
    2) how can i purchase anything on a promise with no monetary obligation?
    i would like some help here so i can move on with my studying, please!
    pat kayda
    619/337- 4612 :wink:

    #30613
    Avatar of corkhorner_2
    corkhorner_2
    Member

    good Pat! Stay with it.
    The LFC gurus will kick in here.

    i.e. Doc G, Dave S, SM, and who knows.

    Perhaps we could even get TJ to jump in here?

    cork horner

    #30614
    Avatar of scott_l._moyes
    scott_l._moyes
    Participant

    @jazz2jazz wrote:

    in my reading of the website material i have come across this paragraph on pp.7 of the first document:
    “when you purchase the house. you bought it with your own signature on the note. free and clear at that moment. did you know that? did they tell you that? no. they take a note, slap an “allonge” on the back and turn your note into a “draft”. it is called an illegal conversion. a draft is “an order to pay”, not a promise to pay. they got paid in full. so how come you still have to pay them anything? good question.”
    it is certainly unclear to me:
    1) the bank got paid by who?
    2) how can i purchase anything on a promise with no monetary obligation?
    i would like some help here so i can move on with my studying, please!
    pat kayda
    619/337- 4612 :wink:

    I would suggest that you attend one of the LFC Webinars. It will answer all of these questions for you. Please click on Bill’s link here and register to attend the webinar on getting your house free and clear in 3 to 6 months instead of years.

    http://www.nars.livingfreeandclear.com

    #30615
    Avatar of corkhorner_2
    corkhorner_2
    Member

    Scott, Pat is already an affiliate.
    He received that info from your neighbor.

    Imo, Pat is experiencing what I consider to be confusing as well.

    I recommended he seek guidance here.

    Being a student myself of LFC, I’m not ready to teach the choir or even conduct the band.

    One of TJ’S direct students today asked me how does one get before a judge to get the judge to eliminate the mortgage note. Beyond ‘being in the course training’ which I am not, I don’t know. It may be a no brainer but that’s how it goes sometime.

    c h

    c h

    #30616
    Avatar of scott_l._moyes
    scott_l._moyes
    Participant

    @CorkHorner wrote:

    One of TJ’S direct students today asked me how does one get before a judge to get the judge to eliminate the mortgage note.

    If they are one of TJ’s “direct” students then they would know the answer to that question. If fact he (TJ) just answered that very question on his webinar tonight. In short, it should never have or need to go before a judge to make that decision. It is an administrative thing, not a legal one and not a decision a judge or jury has to make.

    It is very rare that this would ever end up in a court room. That is the last place a lender would want it. THEY WILL LOSE and then it becomes a matter of public record. Just look at all the press this has been getting lately. And that’s why homeowner are confused. They think they are going to have to hire an attorney and sue their lender for the note. This is the furthest thing form the truth. Think, if there are this many people going to court and getting their notes free and clear then imagine how many have already done so out of the public eye.

    This is very much like fighting the IRS. Most, I’d say 80% or more, that fight the IRS win. But, do you ever hear about them. HELL NO. Why, because the IRS has settle it all out of the public eye (i.e. Court).

    The absolutely stupidest thing a lender can do is challenge this in a public court room. Just look at the articles from the New York Times and reports by CNN. All of which have resulted in loss and public humiliation to the lender. They will do everything in their power to dissuade you from pursuing “Produce the Note”. That’s why TJ and LFC have produced a full “Do-it-Yourself”, with support, package.

    There is no doubt that this works, and virtually every time. Why?

    Well let me put it this way. I’ll admit I’ve seen a few episodes of Judge Judy and the People’s Court. How many times have you seen one party suing the other for money they claim is owed them? Right, almost every episode, that’s what its all about. Answer me this… WHO WINS? Your darn right, the one who can “Produce the Note”. And not just any old note, but the ORIGINAL Note with the ORIGINAL Signatures. Are you getting the picture here.

    The same rules apply with Mortgage Notes. Produce the “Original Note” or get lost, you lose, another one bites the dust, na na na na hey hey hey good bye.

    “Produce the Note” is just a very small part of the whole picture. But, if they can’t then you’ve got’em by the short hairs, so squeeze hard and don’t let go until you are Free and Clear!

    #30617
    Avatar of corkhorner_2
    corkhorner_2
    Member

    Scott, the ‘direct student’ I referred to is here in SD and they went on board with TJ direct before he launched the mortgage program. With my coaching, they re-implemented their home office connection. They are not part of ‘my team’ as such. we are doing other transactions.

    Thank you for the clear cut answer as to why the courtroom is not a popular place for the lenders. Makes sense.

    I understand that the program is working well to stop foreclosures. Sounds like to me that is a good path to sell the system to nod clients in Ca and avoid the foreclosure consultant law? [!]

    c h

    #30618
    Avatar of mtnwizard49
    mtnwizard49
    Member

    In my reading of the website material i have come across this paragraph on pp.7 of the first document:
    “when you purchase the house. you bought it with your own signature on the note. free and clear at that moment. did you know that? did they tell you that? no. they take a note, slap an “allonge” on the back and turn your note into a “draft”. it is called an illegal conversion. a draft is “an order to pay”, not a promise to pay. they got paid in full. so how come you still have to pay them anything? good question.”
    it is certainly unclear to me:
    1) the bank got paid by who?
    2) how can i purchase anything on a promise with no monetary obligation?
    i would like some help here so i can move on with my studying, please!
    pat kayda

    The Fed has two roles – one to be the issuer of Fed reserve notes, and the other to serve as a cartel organization for the 20 member banks. Federal reserve notes stand for nothing in particular, and to vary their number, the Fed buys or sells bonds to and from the member banks.

    Suppose the Fed buys bonds from Chase in the amount of $1000, and Chase previously had the minimum reserve on hand – say it’s 10% just for easy numbers. Now Chase can make additional loans from the $1000 cash that has now been added to their reserves. How much can they loan out? $900.

    But whoever borrows that money will now deposit it in an account somewhere. For simplicity, say they deposit it at B of A. Now B of A has another $900 on hand, and they loan out $810, which is deposited in B of A, which then loans out $720… This is how we get the 10 times multiplier. That is, the 10 times includes all that the commercial banks create. At the end of this process, $10,000 is created from an original deposit of $1000. It doesn’t matter which bank since they are all members of a cartel — family. Pretty clever, huh?

    (By the way, exactly the same thing happens if the original $1000 is in the form of a deposit from my back pocket rather than in the form of the Fed creating reserves, except that now the structure is less stable. The same thing does not happen if it is a deposit from earnings, since then it has to be matched by a withdrawal from the employer’s account.)

    Now do you see also why the Fed contributes only a small amount to the money creation, mathematically speaking? For every $1000 they create, the banks can then create $10,000.

    So, let’s go over it again. On a $100K note, they lend out $90K, which is deposited in a bank who can then lend out $81K, which is deposited and then $72K is lent, etc., until 10x the face amount of the original note has been created.

    And they can do it all from just your signature on a Note. Now you can see why lenders were so anxious to give loans to any creature that could walk upright and sign their name.

    _________________

    #30619
    Avatar of jazz2jazz
    jazz2jazz
    Member

    1) if one buys a home with a loan from a bank, does one owe any money back at that time?
    2) should this be of any concern to anyone who wants to do “free and clear program”?
    i appreciate the response from scott regarding the “administrative aspect” of the process and i believe that financial institutions simply agree to “let go” of the hassle of providing an original note since they have already made ton of profit in through the lending techniques as explained in the $1000 scenario,
    cheers,
    pat kayda
    619/337- 4612

    #30620
    Avatar of scott_l._moyes
    scott_l._moyes
    Participant

    @jazz2jazz wrote:

    1) if one buys a home with a loan from a bank, does one owe any money back at that time?
    2) should this be of any concern to anyone who wants to do “free and clear program”?
    i appreciate the response from scott regarding the “administrative aspect” of the process and i believe that financial institutions simply agree to “let go” of the hassle of providing an original note since they have already made ton of profit in through the lending techniques as explained in the $1000 scenario,
    cheers.

    This would actually either be better answered by Dave Salcido or TJ Marrs himself. You can ask TJ on the Q&A part of his next webinar. In the meantime I’ll let Dave know about your post.

    #30621
    Avatar of dave salcido
    dave salcido
    Member

    @jazz2jazz wrote:

    1) if one buys a home with a loan from a bank, does one owe any money back at that time?
    2) should this be of any concern to anyone who wants to do “free and clear program”?
    i appreciate the response from scott regarding the “administrative aspect” of the process and i believe that financial institutions simply agree to “let go” of the hassle of providing an original note since they have already made ton of profit in through the lending techniques as explained in the $1000 scenario,
    cheers,
    pat kayda
    619/337- 4612

    If the bank loan is valid, yes. If you truly owe somebody something, pay it back. Do not defraud on debt for which you are responsible. If you borrow my rake, please return it to me in the same condition or better. It’s the golden rule you know.

    #30622
    Avatar of jazz2jazz
    jazz2jazz
    Member

    hi dave,
    in free and clear program is it not true that there was no loan in the first place?
    why would i like to defraud on the debt when there is no debt at all and that is what i am attempting to get an answer to!
    cheers,
    pat kayda
    619/337- 4612

    #30623
    Avatar of dave salcido
    dave salcido
    Member

    Some loans are real and valid. Your question was, “if one buys a home with a loan from a bank, does one owe any money back at that time?”

    I prefaced my response with “IF” the loan was valid. Did the bank open their vault, pull real federal reserve notes out (some people consider legal tender as actual money) and give you their own funds or funds pulled from the vault belonging to the bank’s depositors? If the answer to this question is yes, would you not be obligated for a loan? If the answer is “no”, was an actual loan made? If the bank did not make a loan, what the heck did they do? What is owed if no loan was made? We need to know what the bank actually did in order to correctly answer your question.

    #30624
    Avatar of buzzbox
    buzzbox
    Participant

    Look at it this way:

    The note (you create as the buyer) is a security instrument which is treated like cash in our banking system. When you present the note to the bank (which is only acting as an intermediary in the purchase transaction anyway), the bank in essense deposits the note as cash received (because the bank can clear a note just as it can a check or other security instrument) and then turns around using those same note deposited funds to support the issuance of a cashiers check to settle accounts with the seller of the property. Done deal, you’ve bought the property (for cash), seller has been paid and no loan has been made by the bank or anyone else.

    The simple answer is that your note has been converted into cash by the banks chartered authority – that is they are allowed to do this by law, just as they can convert checks, bonds or any other security instrument to cash through the clearing process and bookeeping entries.

    Now the fraud begins – the bank demands and gets a mortgage from you during the closing of escrow for the amount of note, in exchange for simply clearing your note during escrow. This note amount, termed principal by the bank plus interest and whatever other charges and obligations the bank includes in the mortgage document becomes the security instrument attached to the property, that is the collateral.

    The bank has not loaned you any money, but they have by intentional non-disclosure led you to believe that they have, and yes they expect you to pay them the amount shown in the mortgage document, plus interest etc, because you signed a document saying that you would do so, and to guarantee your performance they have tied in the real property as security (collateral).

    Don’t let ‘em get away with it anymore!

    #30625
    Avatar of landlord
    landlord
    Member

    Look, I’m the last person to get all high-handed with the ethics charges, but it just strikes me as a little conniving to borrow money from someone and then scheme ways to avoid paying back the borrowed money.
    If your sister lent you $100 so you could get your car out of the impound lot when it got towed, you’d pay her back, right?
    What’s so different about borrowing money to buy real estate?

    I’m not accusing anyone of anything, but it just doesn’t seem right to borrow with no intent to return (some people call that stealing).

    Slainte,

    _________________
    Brian
    Rental Application

    #30626
    Avatar of scott_l._moyes
    scott_l._moyes
    Participant

    @Landlord wrote:

    Look, I’m the last person to get all high-handed with the ethics charges, but it just strikes me as a little conniving to borrow money from someone and then scheme ways to avoid paying back the borrowed money.

    If your sister lent you $100 so you could get your car out of the impound lot when it got towed, you’d pay her back, right? What’s so different about borrowing money to buy real estate?

    This is what you are not understanding, they ARE NOT LENDING YOU ANY MONEY like your sister did. In fact they aren’t giving you a loan at all. They are tricking you to believe that but it’s not true and never has. They are tricking you in to using your signature to create a note that they can fictionalize and collect up to 10x that amount using nothing more than your signature, and without your knowledge or consent. Now that’s outright fraud!

    @Landlord wrote:

    I’m not accusing anyone of anything, but it just doesn’t seem right to borrow with no intent to return (some people call that stealing).

    Using your signature they are collecting up to 10x the amount of the note that they and you signed. Are they not stealing from you for not sharing what they have received from YOUR Note.

Viewing 15 posts - 1 through 15 (of 65 total)

You must be logged in to reply to this topic.

Posted in
Contact Form
Your Fullname:


Email Address:


Phone:


Best Time to Call:


Subject:


Your Message:


Security Code:

 

Can't read the above security code? Refresh