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You are correct, Mr. Daly was able to successfully get his mortgage released and First National was unable to collect on his mortgage because of this fact. However, now that 90% of all mortgages are not actually held by banks, but sold to and held by the non-banking GSE's Fannie Mae and Freddie Mac essentially no one would be able to successfully pull off what Mr. Daly did today....furthermore, and as is the case in almost every other contract anyone signs these days from mortgages, credit cards, cell phones, etc. you waive your right to a trial by jury for any such disagreement between you and your creditors, and instead have agreed to mandatory arbitration facilitied by an arbitrator that the creditor chooses and already has on retainer (don't believe me go back to your original contracts and look for the "mandatory arbitration clause"), thanks to the massive amout of Tort Reform lobbied for by Big Business, The Banking Cartel, and so called "elected" bodies of this Corporate States of America. The GSE's were not only created to curb bank failures, minimize interest rate risk on their part after the huge losses they incurred per the Great Depression, but also so that citizens like Mr. Daly could not benefit from the fact that "money is debt"....the operations allows for the banks to obtain and facilitate huge "warehouse" lines of credit so that the money they lend for mortgages and some other debts outside the 10%/90% rule is not included in the "money is debt" argument, because it's money they owe and not retain...this is why the 30 year mortgage is a racket as well since not owning the mortgage gives the bank no incentive to provide the borrower a more consumer-centric type mortgage like the "Off-Set Mortgages" and "All-In-One Accounts" that banks in Canada, Australia, and most of Europe provide to their citizens....banks although they give off the impression that they lend the money from their reserves almost never do, and make huge profits from origination fees from the consumers on the mortgages at closing, and then again when they sell the unload/sell the debt from their line of credits to the GSE's, and finally they then retain on aggregate billions of dollars in servicing fees paid to them by the GSE's to service the same mortgage loan(s) they purchased from that bank, which again, gives off the illusion that the transaction is seamless and the loan is actually owned/held by the bank that originated the mortgage loan....but of course this has nothing to do with not filing your tax return, but everything to do with the complete hijacking of our economic system facilitated by the Federal Reserve Act and immediate passage of the Revenue Act both in 1913.....illegal or not, it's a racket that's for sure and especially since this country can't even cover it's interest payments with the amount of income tax collected, and that 60% of our budget is defense/security related and is $8.0B more than the next civilized country makes paying taxes each year for me harder and harder.