Foreclosure University Forum

Wrongful Foreclosures

by AlvieC, Sunday, April 25, 2010, 09:47 (3635 days ago)

Hello to all,

If you are facing the threat of foreclosure, first and foremost, do not take the blame. It really isn't your fault, no matter what is said.

I can offer this information, in hope of educating you. I will use my state, Texas as an example.

When I made my loan with the "Lender", it was between me, the borrower and the Lender. Nobody else. The only parties to this mortgage, are listed on my "Note", that I signed.

I used, the Deed of Trust, a Title to Property, as collateral. This contains information from the "Note", and the "power of Sale" clause.

Sometime back in 2008, a company called Mortgage Electronic Registration Systems, Inc, called "MERS", recorded an Assignment of Note and Deed of Trust, in public records, where my property is located.

By doing this, "MERS" assigned my Deed of Trust to a 3rd party, therefore, bifurcating my Secured Debt.
The Secured debt is a combination of the "Note" and the Deed of Trust. They cannot be separated without consequences.

With "MERS" bifurcation of the Secured Debt, the Deed of Trust is no longer valid and the "power of sale" clause, has no affect.

They cannot foreclose on my home. And I am waiting for the rightful owner of the "note" to contact me to collect on the unsecured debt.

Everything, I have just provided, I proved in court.

Homeowner's should look at their county records to see if this has happened to them. It probably has, and it not only affects homeowner's in foreclosure, but also anyone who has a mortgage loan.

Laws differ from State to State. I used my States laws to prove this. However, the Uniform Commercial Code, or what ever code in your state, will help you to better understand this.
It is dealing with "Security Instruments".
There has to be perfection of the security instrument, to make it legal.
Hope this helps.

Oh, I am not a lawyer, don't play one on TV, I don't give legal advice, nor substitute anything I say for Legal Advice. This is education, my friends.

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