Dan’s Foreclosure Story

Anyone who is having trouble with their lender should contact their local states attorney and the office of banks and real estate or professional licensing and file a complaint….maybe if enough states take on these lenders, the US Attorney might realize there is a problem and let the President know.
Better yet, write the President, directly and your local representatives. Maybe we need to organize a march on Washington!!!

It is sad what is happening to home prices and income levels.

The moral of the story….hire an attorney to review all documents signed. Thanks for sharing the video Dan. It is sad what happened to you.

The average building permit issued to build each of the 20 million (now vacant) homes was about $15,000 a pop. This doesn’t include the fees charged to rezone the land from agriculture to residential. And let’s now forget whose tax dollars were spent to run all the curbs, sewers, and water pipes out there. You’ve been fleeced America. Stop blaming the victims.

What about the value of the refinanced property? Would it stabilize to its current state? Its scary because the banks has 70% of its inventory that has not been out in the market and there’s moooore to come!. I guess this is their way of manipulating the market, creating this aura of “the bottom has been reached’ …. NOT!

Im not buying……literally and figuratively

i think both the parties exploited each other. Those loans should never have been made. had those loans not been made there would have been a housing bubble. As a result people like the one in video would not have paid over the top for the house. People exploited the banks by taking the loans they couldnt afford. people should have been a little more careful with the loans they were getting into

I personally never screwed someone on a mortgage loan, and I had to work much harder than some of my less scrupulous employees for doing so, but I can tell you that even though there are laws against predatory lending, the edge of those laws are tested by brokers/loan officers who wish to make aq quick buck, and it’s your job as a smart consumer to understand what is on a peice of paper in front of you before signing it.

“The Jury found there was no lawful consideration and I agree Only God can create something of value out of nothing.” Montgomery Bank vs. Jerome Daly.

It has been settled beyond controversy that a national bank, under federal Law being limited in its powers and capacity, cannot lend its credit by guaranteeing the debts of another. All such contracts entered into by its officers are ultra vires. Howard & Foster Co. v. Citizens Natl Bank of Union, 133 SC 202, 130 SE 759(1926).

A bank is not the holder in due course upon merely crediting the depositors account. Bankers Trust v. Nagler, 229 NYS 2d 142, 143.

The doctrine of ultra vires is a most powerful weapon to keep private corporations within their legitimate spheres and to punish them for violations of their corporate charters, and it probably is not invoked too often ” Zinc Carbonate Co. v. First National Bank, 103 Wis 125, 79 NW 229. American Express Co. v. Citizens State Bank, 194 NW 430.

In the federal courts, it is well established that a national bank has not power to lend its credit to another by becoming surety, indorser, or guarantor for him. Farmers and Miners Bank v. Bluefield Nat l Bank, 11 F 2d 83, 271 U.S. 669.

how did the banks take advantage of the american people? wasnt it the american people taking advantage of the banks, by getting houses they couldnt afford (with the incomes they had) and then later on defaulting for that very reason

LOL! Yeah, for free. Thats a good idea, Lets just start giving everyone free homes. No one has to work for anything.

You’re not entitled to shit in this country. You have to work hard, save and spend intelligently to survive here. You’re not going to beat the banks by vandalism or picket lines. Good old fashion knowledge takes care of that.

Its not a coincidence that most wealthy people are highly educated. Only stupid people get foreclosed on. Period.