Banks Using Your Own Money Credit to Give You a Mortgage…

Banks Using Your Own Money Credit to Give You a Mortgage...



let's share our knowledge let's share our talent because without each other it's a lonely road well I couldn't agree more you know I remember when when I when I bet had the pleasure of first coming into contact and making your acquaintance she went doctor stylist a few years ago and you know dr. Klaus her partner continued to talk to me about quiet title and at the time I was experiencing some issues with my mortgage lender I was also helping clients and picking up property subject-to and helping people from the trustee side of it and no one had a sort of quiet title is I didn't know what I was doing a lot of the attorneys didn't know but I still just followed your advice and it's just amazing to see where you've gone with this knowledge and the fact that now you're you're doing trainings and then teaching attorneys around the country about this stuff and it's really relatively new I guess even from a legal perspective or at least with foreclosures I'm starting to know if you want an AV as we just start off slowly getting into about a few more people join I hope you want to jump in a little bit and talk about how you got into quiet title here is what we're here is what we'll do okay I I welcome this opportunity to chat with everybody and thank you for taking time out of your evening and giving the old man your ear hears is really what what is transpired you know if you look back when you bought a home you went to the bank and you filled out some paperwork and one of the pieces of paper that you signed was your mortgage and it was notarized and it was recorded with peak birth deeds is registered deeds or a clerk of county clerk or whatever okay and the other piece of paper that you set filled out and signed was a promise and let's say you bar $400,000 well you signed a piece of paper will you promise to pay that man across the table or his representative four hundred thousand dollars over a period of thirty years or 20 years or whatever the term was but you signed that piece of paper and it was not notarized but it was like signing a blank cheque but it was a promise to pay which made it a negotiable instrument now when you press when you gave sign that paper you thought that the bank was going to give you $400,000 that's what you thought well when you sign that piece of paper what did they give you they give you anything yet you just sign the document and that piece of paper became an asset for that Bank it was now an asset that they owned you no longer owned it yours was a promise to pay so that asset was now $400,000 of theirs and here's what they did with it they didn't give you any money yet but they took that asset and they created a bond just like you would bail your nephew out of jail they created a bond and that bond went they took it to the Federal Reserve and the Federal Reserve gave them approximately ten times the amount of your promise to pay now let's say you promised the pay was four hundred thousand the Federal Reserve creator gave them a credit of about four million bucks now how much money have they put up they have put up absolutely zero they leveraged leveraged and the technical word for it is monetized but they leveraged your promise to pay to create four million by and they still had your promise to pay they kept it they just created a bond they then took your promise to pay to another party and we'll call that party a wholesaler and that wholesaler took it to what we call an aggregator or trustee and it was then sold to a trust and 95% of the Trust's are in New York so with so long Wall Street well where did the money come from for this note where did it come from well the trust filed before you even applied for that note the trust filed what we call an 8k filing with the Securities and Exchange Commission and we'll call it the Rosato trust and they told the Securities and Exchange Commission that they were going to sell investment certificates and they were what we call mortgage-backed securities or they were called CDOs collateralized collateralized debt obligations whatever fancy term they called it that note was was that was the security for these folks to induce certificate holders or investors let's just say the folks that are listening to this phone call let's say they represent the school teachers in their area so the school teachers pension plan invested 10 million dollars each into this trust that was backed by your promise to pay so they were they were given oh let's say 6% to return on their investment but you were paying maybe 7% so the trust was earning money okay now those certificates okay that were purchased by the investors okay that money went back to the bank that you signed that promise to pay with and that's where the funds came from for you to buy your house Wow Wow listen to this for a minute that piece of paper that was never notarized traveled all around the world gathering a lot a lot of money it created four million dollars for the bank and credit on your signature it also induced a lot of school teachers pension plans or firefighters pension plans to invest into that trust they got an investment certificate and the funds came backwards to the bank and the bank then threw the title company they provided the four hundred thousand dollars to purchase the house good deal very good deal for who for the bank they got four million in credits and didn't put up a nickel out now the trustee for this trust he is provided what we call a pooling and services agreement that's his management book that's his rules that's what he has to follow to comply with the SEC rules so in a pulling in services agreement there's a clause in there that says if you failed to pay your mortgage they they entered into an insurance contract so if that mortgage wasn't paid the insurance company would pay it but the money wouldn't go to you it would go to the trust so then we call that a credit default swap and the insurance company is listen to this a I G now when you got in trouble and you know you lost your job or your overtime or for whatever reason you tried to contact the bank and you got the runaround you ended up talking to this person that person submit these papers oh we lost them submit them again and all that practicals with it but you were told we can't help you until you're 90 days late everybody's heard ed well guess what happened on day 91 on day 91 the insurance policy that the trustee entered into with AIG triggered a payoff and the trust received the full amount of the note regardless of how much you paid on your mortgage they got the full amount of help so the note was insured for 400,000 to trust got 400,000 but here's a mystery here and I'll explain it as easy as I can the Federal Reserve allowed the trust to leverage that four hundred thousand dollar note 30 times so they created 30 different levels now your four thousand dollar note is purchased by other lenders along we go now let's go back to the default the AIG paid off the note when it was 91 days late so at this point who has lost any money nobody except AIG or insurers like that Sal Smith Salomon Barnum Brothers and all that stuff now someone attempts to foreclose let's say the lender that you've got to know from they're gonna foreclose on you or the trust is gonna foreclose on you or let's say it's Wells Fargo acting this trustee for Bear Stearns trust well they're kind of steal the house because nobody has any skin in the game they've all been paid commissions and they're but they've been very successful in stealing houses what happened here well I sat in the fort minor's courtroom many times and I watched folks average folks lose their house in five minutes because they didn't have an idea of what to do didn't know where to go for an answer and didn't have any money now in this foreclosure arena so I'll call it a football field in this field of litigation the only players are the consumers who have enough money to pay an attorney and what is he doing he's delaying the time so that you maybe save a couple of months of rent or mortgage payments but at the end of the day end of the day when you pull the shade down journalize up he wins a dismissal without prejudice which means the bank that is foreclosing who doesn't have any skin in the game will come back again in a month and try to port brother try to foreclose again so what is quiet title is what I did I said okay up when you're in trouble you're trying to find some person to talk to someone to give you straight answers and what do they do they Stonewall you their firewall you you can't talk to this person that person and all that crap so a quiet title action which has nothing to do with your debt nothing to do with your did a quiet title action means this Your Honor I cannot sell my house because the chain of title has been broken and why was it broken it was broken when you closed on the mortgage and MERS was involved merge took possession of the note I mean excuse me of the mortgage electronically and the bank sold the note now how are we doing so far Randy fantastic riche and Van Dyck fantastic okay I'll keep every what I'll do is yet before you put others I'll give a couple of pieces of information because I know some people may have some questions okay so what you can do is if you've got questions and you have the ability to text email you can text the questions into five six one four four four nine one seven nine five six one four four four ninety one seventy nine or you could email them to quiet title it's quiet – title at Rossano company's calm that's four olds are OS a do companies plural dot-com and I'll get them out to Regis for you and the meantime we just cut it okay I'm glad you took that little break because I took a little sip of my merlot wine all right any time you feel the need let me know all right I'm ready to go right well it'll be a march lunch point when you close on the loan and it murders was involved the mortgage became separated from the note and you can hear it wants a mortgage in the noter separated the chain of title is broken chain of title you can spend a minute talking because right now you know or anyone that's in the industry sees with : our murmurs and everything is coming down but I know there's a lot of people that doesn't understand the significance can you spend in just a moment talking about members and why that's such an important role the quiet like merge technically is Mortgage Electronic Registration they were formed by the banks and the met banks became members and MERS at the closing table is named as the nominee lender they take they take possession of the mortgage electronically not the hard copy but electronically MERS their theory is and was that by they being the nominee lender and having possession of the mortgage electronically they believe that the note followed the mortgage and there are some judges who don't understand this who agreed with that however the US Supreme Court in 1872 said if the note and the mortgage are separated because one secures the other if they're separated they're both null and void and to simplify it if you were going to buy my car you're not going to give me the check until I give you the title the keys to the car are one thing but the title is another thing now MERS took possession of the mortgage but they could not take possession of the note because the Kansas Supreme Court ruled that they are not a lender with that being said your loan was bifurcated that's a legal word bifurcated right at the closing but you didn't know that now that means your type chain of title was broken so fast forwarding ahead we simply said and this workbook that I created and I'm the only layman that I know of and I've been told this that's ever been approved by the Florida Bar to teach attorneys about this subject I've subsequently been approved by the Georgia bar the Wisconsin bars and Nevada Bar and other states to follow so that's quite an accomplishment for you little white hair old man to be able to be certified to teach attorneys so now when we have the basis for a quiet title action we simply say to the court your honor the chain of title is broken I cannot sell my house give you an example how important the chain of title is I bought a home the doctor Klaus my business partner found for me and at the closing table the closing clerk girl I knew she'd been closing for 33 years I said to her Audrey I just signed a very very important document that's worth a lot of money I need a receipt for my signature when you when you do a transaction with a credit card don't you get a receipt absolutely when you when you spend money don't you get a receipt absolutely I was just spending a lot of money and I asked for a receipt and she said we can't do that what they gave me for a receipt was a special warranty deed that means the bank who said they owned the home was guaranteeing me a clean title only from the time that they owned the home until the time I bought it well here in Cape Coral we recently had to it only back in July a headline story were an attorney and a real estate broker paid a bank 158 thousand dollars cash and the bank did not own the home and the attorney accepted a special warranty deed well today if you're buying an REO or foreclosure home I can solid guarantee you you cannot get title insurance so with that being said the quiet title action flushes out anybody who has a recorded legal interest in the title not the note the note has nothing to do with the wife title action and in a lot of cases no one shows up we have one here in Cape Coral Fannie Mae didn't show up because they didn't have a recorded interest the mortgage and the note were never assigned to them now with that being said this I know it sounds convoluted but what's the meat and potatoes of tonight's call the meat and potatoes of tonight's call is in order to file quiet title action you cannot go into court with hearsay evidence you cannot say to the judge your honor I found this out or my friend told me this or I think this you get laughed at and throw out okay what you need is a securitization audit which follows the paper trail from the time you closed until it enters into the trust and a Bloomberg financial report that pulls out all of the financial information about the trust when you have that information and it's accompanied with an affidavit sworn under the penalty of perjury you know evidence you now have admissible evidence to the court that the note was paid off when the insurance or credit default swap was triggered well if the note was paid off who is damaged who is damaged nobody the only logical people with a claim to that house only logical people would be the insurance company that paid out the claim but now here's a is the end of my story tonight and then now open it up for questions if you have your vehicle insured by let's say Geico and you total it the Geico will write you a check for the value of the vehicle but who owns the salvage rights I'm going to think about that for a minute write your question down think about it the salvage rights are owned by Geico they then part it out or salvage sell it whatever so they can minimize their losses well in the foreclosure arena the insurance company is Geico and if they paid off the certificate holders then they would have a claim to the house logical except except they insured unsecured notes remember at the closing table murrs became the nominee lender it separated the note from the mortgage the US Supreme Court says that they're separated they're both null and void well Geico insured unsecured notes because the notes that were not accompanied by the mortgage or vice versa therefore they had no claim on the wreck or the house who now so essentially they're double dipping were averse to double dipping and triple dependin absolutely and today Geico has a big-time lawsuit against Bank of America because Geico I'm not guy coat my god when you get my age you can embed words AIG has a major lawsuit against Bank of America because Bank of America defrauded them on the quality of the loans the loans were rated triple-a by Standard & Poor's or Moody's or whatever when in fact they slid into that pile of loans they slid slid in some toxic lonesome some marginal loans and Geico ended up paying based on misrepresentation wow what a hornet's nest so for those folks who are interested in taking a step further and learning more I would suggest this Randy I think you've got a an event the workshop or something scheduled there in the West Palm Beach anybody anybody who is an investor even a homeowner who has concerns or an attorney I could I would highly highly recommend that they attend your event I'm in fact I think I'm scheduled to speak at it I would highly recommend it yeah I would highly recommend that they attended because there's so much information to learn now I want to add this today I had a call from the CEO of a legal group that represents these attorneys are members from all over the country and they want me to make a commitment to teach this legal group all about quiet title because and here here is the nuts and bolts of it everybody that has an attorney they take all of their problems to the attorney we're in the medical field you don't take a heart problem to a kidney specialists you don't take a back pain to a foot doctor but in the legal arena people that people assume that their attorney knows everything my son is an attorney and he's dumber than a box of rocks he only knows one thing divorces so when I mentioned quiet titles to Timmy he said dad we didn't have that in college I have to go find out about it so there are that that's the reason that we're teaching attorneys so that folks that have an issue or one or they want the answers we can direct them to an attorney who understands it and once an attorney understands it it's much easier to have the operation done and you certainly don't want a heart surgeon operating on a blister on your foot to waste the money so we've identified this we now have a group of attorneys started and today I talked to the CEO of a legal group that has attorneys in every state except Hawaii Alaska and the cowboy states and they have I think 62 law firms and they want me to teach all of those law firms all about quiet title because these boys they've admitted they simply don't know it but they won't count clients you ever happen attorney tell you I don't know something he said well let me let me run let me think about that a little bit and I'll call it colleague in and we'll get it done they never admit defeat hell attorneys if if you ask them their scorecard they'll say well I had five hundred cases and I won four hundred of them where are the other 400 losers all right I shot my wad I'm going to take take another simple move over here they're all jumping and make some announcements reach that was that was awesome and for everyone out there just a few announcements we have a full workshop it's going to be a full day 8 a.m. to 6 p.m. on December 10th and I know December is a tough time but it's beautiful here in Florida it's going to be at the Crowne Plaza unless Palm Beach it's an all-day event breakfast lunch is covered beverages allowed today and just a ton of information from from regis and his colleagues at the u.s. property shop and then i want to announce another date that just came up today greensboro north carolina my my old friend from 20 plus years ago my childhood friend who got me my first sales job building is out there leading the leaving the workshop in Greensboro in January so if the summer doesn't work for you we've got January 25th 21st comes our January 21st at the Comfort Suites if you need information on that event you can contact Phil directly Phil give numbers 3 3 6 8 8 2 6 6 6 6 and for details on the event and West Palm Beach you can contact me I'm Randy Rosado it's five six one four four four nine one 79 and Rita's just some last thoughts tell people what exactly don't take out of this event after they spend all day there and the attorneys I believe it's seven continuing education credits for the one day yeah yeah it's 777 CLE hours okay so you can sell them on it also ranting listen for those folks who are on the call tonight whether they enroll in the workshop or not I've got a I've got a gift for them just for their interest okay if they if they take five minutes and give you their email address and you forward that to me I will give them a free copy of a book that we have on the internet called getting out of credit prison it's got tremendous reviews it's a wonderful book and I'll give them as my gift for you for them great great and we do have a question that came in Soleil let me ask you ask you this question I'm not going to state the Perkins name because I'm not sure they want to but I'm a realtor an investor I have many properties in various stages of foreclosure modification and short sale in quiet title action we started at any time during these stages are there attorneys and Palm Beaches who can help with this who are they now I could kind of answer in terms of the attorneys I mean I don't know anybody but I do have some people from the workshop so you can contact me this individual can contact me and I'll get your ideas out it will reply with some information but we just explain what to do for people like this where they're in different stages of the foreclosure I know I've been there so I could speak from personal experience but obviously you've explained tonight why modifications aren't happening and short sales aren't happening by the bank so when I hear some here's here's the best is the best analogy the foreclosure defense is is like gaya' like treading water you need an attorney or if you're if you feel competent yourself pro se to tread water that's delay delay delay object delay production of documents whatever it takes to extend extend the action in a four clinics foreclosure lawsuit okay so that you do not have a sale now I'm not saying if there is has already been a sale of a foreclosed property that can also be attacked but it's much easier if you can delay it he lay that game that's the game of litigation in the meantime you get your audits and this is where dr. Krauss comes in here's what you do and I did this with Regions Bank I walked into the bank and I said to the girl I want to talk to her president the bank has dirty diapers and they really smell well he's in conference I said there's no problem I'll just drop the diapers right here in less than 30 seconds he comes out of his office and he said I overheard the conversation what's the problem I say you've got dirty diapers there's fraud in this in these loans now what do you want to do you want to litigate or you want to negotiate as they called his legal department and I said here's the proof you people have already been paid what do you want to do and it stopped all the activity in court because you had proof and that's the value of the securitisation audit and a Bloomberg financial reports so if I were a real estate investor I would not rely on any modification because you're dealing with someone who doesn't own the note remember remember earlier in the conversation a lawyer here in Cape Coral and the real estate broker they were partners they paid the bank one hundred and fifty six thousand dollars and Randy I think you saw the article and the bank didn't own it so if I'm an investor how the hell do I know who owns them owns the note so the only way I can find out who owns the note so I can sit across the table and cut a deal is to flush him out of the woodwork and how do you flush him out you to them Wow this moment' a lot of enthusiasm I can tell you that that's what I was doing to jump in Regis because from a personal experience I would say in the case and it was in the Fort Meyers courtroom you know and I got a late start on that it was probably approaching final judgment before I came in with the interrogatories and and some of the defense from dr. Krauss and I was able to get the dismissal without prejudice so my advice in this situation is you know when you're defending a foreclosure but when you do in the short sale and and that part of it what happens is your acting is a defendant so once that case dismisses you need to move ahead and file again that without down target Regis at least that's how I understood it and put yourself in right now using and you become the plaintiff exactly now we have another question that also came in and this is uh you know are you going to get into you're going to go through how the debt can be tracked through the FTC or service yet to – ouch I'm very interested in that course that's part of the Bloomberg right as part of the Bloomberg and the securitization on it yeah okay so and we actually if you go to the workshop because I've been doing this quiet title kind of pro se because I haven't felt comfortable enough with an attorney up until now now I've got some good people but prior to this I just kind of stumbled into the courtroom that frustrated saw people losing our home and begging for an extra 30 days and it's it's depressing and I've been able to you know make significant headway in properties in New York and Florida so it really and when I went to a workshop even with that background the wealth of knowledge I got is really unbelievable where these guys have taken this course and for the question that just came in you will actually see a detailed breakdown of the Bloomberg report of the insurance payouts all that stuff will be provided so that's absolutely what you going to learn today securitization you you will see you will see dr. Klaus shine you will see him a guy who is an absolute whiz on this they might make my forte is parking his is research and now we just played can I offer another gift because sure I don't know if it's only for attendees your quiet title handbook can I give that to the people who attended the call absolutely can these are the workshop no if you have it and you've got it electronically absolutely absolutely when our Regents are going to give you get out of credit prison I like to give you on Regis as behalf a copy of the quiet title handbook so go ahead and email quiet – pride Oh anyone who's even al does the – investors that emailed us we'll shoot it over to you guys and anyone else go ahead and shoot us an email quiet – title at Rose auto companies calm and we'll make sure what they got out to you as well it's good stuff it's something you're not going to buy it Barnes and Noble absolutely I think that's it for questions we do you have anything else before we close out oh yeah I'm ill attrition alright everyone everyone's waking up and I'm going up and down stairs okay here we go I would like to know what Miami Florida does a securitization and how much is it more or less now I know we get into that in the workshop you have a cost on the securitization service I have an idea but I don't want to misspeak alright I'd here's here is the the cost of the audits okay I believe it's twelve sixty twelve hundred and sixty dollars that's combined now I can pass this on you could go online because they sell software to do securitization audits the same as they did sell software to do forensic audits however you can get a securitization audit done by Joe and in the Janie up in Idaho okay what the audit must have is an affidavit within a sworn affidavit that becomes admissible evidence in court now they're selling audits on the internet from anyplace from $800 to $2,000 per audits we have worked out a deal with the company that we work with because of the volume we have a large volume of audits and the total price of the combined audits is 1260 now once the audit has been obtained now what do you do with it well what dr. Klaus does and he charges $500 for his company and they do a pre litigation report in other words they will identify not within the audits but within the paperwork the assignment to transfer recording whatever all of the fraud if there is fraud in this fraud in 95% of the deals okay they will identify Robo signers they will identify notaries Adam for the ribbon expired they will identify so many things and that that litigate pre litigation report were under contract to a number of law firms and they love it because to port an attorney to have this free litigation report he has to tell his paralegal all right start looking into this get this cat that cat this cat that and I can guarantee you it runs them more than two days of research and he does that for a fee of 500 and so the total would be 17 sixty no I know lower that's it we do not have affiliates we don't pay out commissions it's not multi-level marketing it's the cost of the knowledge absolutely in dr. Claussen research has done wonders for me personally in terms of finding Robo signers and just finding fraudulent assignments anything I mean it's unbelievable what he's able to find that they seem so so just just so everyone's clear again we've got 504 for the research and again I could I can speak for for what that's done for for me and my own deals and then the 1200 now I think what everyone needs to understand is that includes to seek the full securitization and Bloomberg the affidavit basically everything ready to actually bring it to the court or in the spring or so everything they can bring it to the court themself pro se or they can take it to an attorney that we have work already works out any attorney comes to our workshop agrees after they've attended the workshop they can either say yea or nay but they agree to a flat fee and a percentage on a contingency basis at the end of the deal so it it's a wonderful deal for people and we we we do our best to associate them with attorneys that understand what this is all about versus an attorney that's going to take their money and there are some out there going to take their money but does don't know what they're doing they apologize and say I need more money exactly well I think that's hopefully clearing up any questions we have any other questions that have come in at this point I think we're we're good so we just we do okay good okay good question good this question is coming in and saying oh this is you know what Regis I was going to ask you this and this is a great question you saying 1960 what's the endgame property is awarded free and clear question mark what is success rate I'll jump in quickly and say that I've seen I've walked into houses that have been taken free and clear by two of your clients and your friend Mary birdie in Cape Coral and I've actually stood in one of his homes and the homes are adjacent to each other so I've seen the product and I've had my own dismissal but we just explain a little bit what the end game is I mean we all want to see the property is free and clear but realistically whatever picks energies were like Brandi here's the end game to get a house free and clear I'm going to say that's a pipe dream but it happens okay the ability to walk into the bank and say to the back to the president of Bank you have dirty diapers do you want to litigate or you do you want to negotiate and they always would rather negotiate and then it's a question of how much money they will take based on today's value so if a home had a mortgage of four hundred thousand it's worth two hundred thousand today banks are negotiating between 30 and 60 percent of today's value now can the individual homeowner negotiate no no because of the bank civil why don't you pay me in the first place but through a program we worked out we have investors that will buy that note take a fair profit keep the people in the house and give them an opportunity to refinance under FHA guidelines under 41:55 two years later and everybody wins and the homeowner has his house at less than today's value well Hopkins why would why would someone allow a bank to take money when they don't own it and then and then issue a 1099 for deputies they don't have coming that's a Ponzi scheme if the bank can prove through a quiet title action that they are the real holder in due course then you can negotiate with them but these people are stealing I'm done yeah well I do have the other question that came in I'm not sure if this one you know anything about I don't see why it would be any kind of difference but we've got an investor in Miami who wants to know if a judge will honor a securitization at a Miami Court even if there is I guess a requirement to act in foreclosure or retirement act in foreclosure cases that they may not know about a lot of it is here by students is that right if here's the answer to that here's the answer to that when you are in foreclosure and your attorney is representing you or you're representing yourself you are in what we call a court of equity or the judge's ruling on tort law and that's the amount of the debt you owe the debt do you not know the debt is a fair blah blah blah a quiet title action is contract law contract law it's not a question of money the judge is not ruling against an attorney who just wrote him a check the night before for 20,000 for his re-election campaign its contract law and the securitization report with admissible evidence when presented properly when presented properly and the pleading is presented properly right attorney understands it and if the judge know that his decision will automatically be appealed he doesn't want to go to appeals court so he will make a ruling on contract law I hope that answers that question you

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