Loading ...
Sorry, an error occurred while loading the content.

Bank changing amount of priciple due on a mortgage

Expand Messages
  • susanne waid
    My mortgage lender has changed the principle amount due on my mortgage loan by transferring a recoverable corporate advance , which I have disputed, to the
    Message 1 of 5 , Nov 30, 2006
    • 0 Attachment

      My mortgage lender has changed the principle amount due on my mortgage loan by transferring a “recoverable corporate advance”, which I have disputed, to the principle amount due.  In spite of searching on the net for over an hour and a half under every category that I could think of, I cannot find any statutes governing this situation.    Does any forum member have a suggestion as to where I might search?  I would greatly appreciate your input.  Susanne Waid

    • soc_anon_01
      Susanne; The answer to your question lies within the agreement you entered into with the MORTGAGE LENDER? . Within that document it spells out what can and
      Message 2 of 5 , Nov 30, 2006
      • 0 Attachment
        Susanne;

        The answer to your question lies within the agreement you entered into
        with the MORTGAGE "LENDER?". Within that document it spells out what
        can and cannot take place, ie..what addishinal charges you may be
        charged, when, and how.

        Get a copy of "The Default Provisions of the Revised Artical 9 "UCC"
        from the ABA; ISBN: 1-57073-759-2; by calling 1-800-285-2221.

        Think this out clearly, then act.

        Glenn

        "susanne waid" <susannew@...> wrote:
        >
        > My mortgage lender has changed the principle amount due on my
        mortgage loan
        > by transferring a "recoverable corporate advance", which I have
        disputed, to
        > the principle amount due. In spite of searching on the net for over
        an hour
        > and a half under every category that I could think of, I cannot find any
        > statutes governing this situation. Does any forum member have a
        > suggestion as to where I might search? I would greatly appreciate your
        > input. Susanne Waid
        >
      • Julian Shelton
        Start with reading both your loan docs & your trust deed or mortgage instrument very carefully to see if there s a clause authorizing such a transfer. If there
        Message 3 of 5 , Dec 1, 2006
        • 0 Attachment
          Start with reading both your loan docs & your trust deed or mortgage instrument very carefully to see if there's a clause authorizing such a transfer.  If there is and you signed the document you agreed to it, unknowingly, if it was not clearly disclosed to you at the loan closing when you signed docs.  If it was disclosed to you at that time you may be stuck with it.  If it wasn't clearly disclosed to you at the loan closing, however, you can probably file a Regulation Z disclosure violation against the lender.  I don't have personal experience doing this & don't have specific information on how to go about it but you can more than likely find infoprmation by doing a google search on Regulation  Z.  Regulation Z violations by lenders are serious matters for them.  You may be able to negotiate with them to voluntarily drop it if you were not provided with clear disclosure at the loan closing prior to signing the doc that authorized the transfer.  No lender wants to have a Reg Z violation complaint filed against them because of the seriousness of the penalties for the violation.

          -----Original Message-----
          From: susanne waid
          Sent: Nov 30, 2006 8:58 PM
          To: tips_and_tricks@yahoogroups.com
          Subject: [tips_and_tricks] Bank changing amount of priciple due on a mortgage

          My mortgage lender has changed the principle amount due on my mortgage loan by transferring a ┬ôrecoverable corporate advance┬ö, which I have disputed, to the principle amount due.  In spite of searching on the net for over an hour and a half under every category that I could think of, I cannot find any statutes governing this situation.    Does any forum member have a suggestion as to where I might search?  I would greatly appreciate your input.  Susanne Waid

        • donmadmary
          Susanne....First start researching Mortage Loans , you will discover that banks and mortgage companies DO NOT make loans. There is a neat little federal
          Message 4 of 5 , Dec 1, 2006
          • 0 Attachment
            Susanne....First start researching "Mortage Loans", you will discover
            that banks and mortgage companies DO NOT make loans. There is a neat
            little federal statute that bars them from loaning out depositors
            money. Somewhere on your mortgage papers (in very small print)you
            will find the words "Pay to the order of." What you signed was a
            Promissory Note and you were told that it was a loan. Pure Fraud by
            the bank as it is called "Non-full-disclosure" of the contract and is
            illegal. I do not know what a "recoverable corp advance" is.
            You will also discover that a Promissory Note is money that you
            created and was deposited into the banks assets. The bank took your
            Promissory Note and put it with other notes and traded them for Gov
            Securties, then sold the Securties for FRN. They then creates an
            account in your name from which they issued a check also in your name
            to the person that you purchased the house from, then told you that
            you had to repay the money that you deposited into the bank as a loan
            with interest.

            Don



            --- In tips_and_tricks@yahoogroups.com, "susanne waid" <susannew@...>
            wrote:
            >
            > My mortgage lender has changed the principle amount due on my
            mortgage loan
            > by transferring a "recoverable corporate advance", which I have
            disputed, to
            > the principle amount due. In spite of searching on the net for
            over an hour
            > and a half under every category that I could think of, I cannot
            find any
            > statutes governing this situation. Does any forum member have a
            > suggestion as to where I might search? I would greatly appreciate
            your
            > input. Susanne Waid
            >
          • gary
            I would think that it is not a matter of statute, rather a matter of contract. Some banks have a clause in their various account agreements that says if you
            Message 5 of 5 , Dec 1, 2006
            • 0 Attachment
              I would think that it is not a matter of statute, rather a matter of
              contract. Some banks have a clause in their various account agreements that
              says if you owe on one thing they can combine it with something else and
              sometimes (this happened to someone I know) they can take money from any
              accounts you have with them (checking, savings, etc.) to pay anything that
              is not current. You need to carefully read your mortgage contract, credit
              card agreements, etc.

              Gary

              ----- Original Message -----
              From: susanne waid
              To: tips_and_tricks@yahoogroups.com
              Sent: Thursday, November 30, 2006 10:58 PM
              Subject: [tips_and_tricks] Bank changing amount of priciple due on a
              mortgage


              My mortgage lender has changed the principle amount due on my mortgage loan
              by transferring a "recoverable corporate advance", which I have disputed, to
              the principle amount due. In spite of searching on the net for over an hour
              and a half under every category that I could think of, I cannot find any
              statutes governing this situation. Does any forum member have a
              suggestion as to where I might search? I would greatly appreciate your
              input. Susanne Waid
            Your message has been successfully submitted and would be delivered to recipients shortly.