Bank Security Fraud Securitization In Illegal Mortgage Foreclosure Actions

Bank Security Fraud Securitization In Illegal Mortgage Foreclosure or bank securitization is a scheme by the banks to sell your promissory note and mortgage many, many times and making multiple amounts of money using your debt signature and good credit to swindle you out or your home or property by placing your mortgage and note in a pool of loans within a Trust.

After this mortgage and note securitization happens, your mortgage loan is electronically recorded and this strips the equality out of your note making it a worthless piece of paper. Inside the Trust, your note gets converted from a security under the Uniformed Commercial Code, UCC, Article 3, to a Stock Certificate under UCC Article 8, and selling just a small part of the same Stock Certificate to thousands and thousands of investors many times.

It is similar to you selling the same car title to many people for the same price, but you would be arrested for fraud if you did this as the banks are doing and getting away with robbery and theft of your home and commercial property.

After your promissory note was sold into the trust and was converted into a stock certificate, your note had to be destroyed under the Federal Security Law… No more Note… No more Mortgage, but hello Mortgage Foreclosure fraud!

The Trust is controlled by the Lender’s Pooling and Servicing Agreement, PSA, which spells out that the original Note and Mortgage are accepted by the Trust Custodian, what the Trustee’s job is, and the conversion of the note into a stock certificate. Almost all the time the Lender, Trustee, Investor, or Servicer DO NOT follow their own PSA or legal rules against The Securities Exchange Commission, SEC, rules and laws; therefore, the fraud against WE THE PEOPLE starts and is perpetuated by greedy lawyers representing the greedy banks in an illegal mortgage foreclosure.

This is why homeowners need to complete the Phase One, Notary Administrative procedure to satisfy the “Clean Hands Theory” to show that there is nothing to hide and to exhaust all other remedies before you begin Phase Three. This legal procedure falls under the UCC, Article 3 and all State laws.

The Bank Security Fraud Securitization Audit In any Mortgage Foreclosure is the Second Phase in this Three Phase process to get your Mortgage Lien Released so you can own your home FREE and CLEAR in under 6 months.

Smart Hints to Successful Buying of Bank Owned Foreclosures

Bank owned foreclosures refer to those that have reverted to the bank’s ownership after a public sale. These properties can range from single units to multi-family units, condominiums, apartments, townhouses, duplexes and other types of structures. Once these properties become REOs or bank owned, they will be listed as for sale usually through listings provider or real estate brokers. Although you can choose from a wide selection of properties from a foreclosures list, it is still important to take note of the following guides to ensure that your investment is adequately protected and remains an asset rather than a liability.

Always Inspect The Property

Inspection of the property is very important. The photographs showing a property’s facade or any of its angles will not compensate for a thorough, personal inspection. Photos will not show the leaks, broken tiles, smashed windows, molds, and other repairs that are needed to be done on the property. A licensed home inspector can help you assess the damage and state of the property as well as give you a written estimate of the repairs that should be done on the property.

An ocular inspection will not only provide you a firsthand knowledge of the current state of bank owned foreclosures but give you a glimpse of the type of neighborhood surrounding them as well. You may also ask a few questions from the people in the neighborhood about their personal experiences in living in the area and other questions which would give you a clearer picture of what to expect. The information that you will gather from a house visit should help you in formulating your decisions later.

Research The Title

Once you have found a property that you are interested in, do a title search. You may want to search the public records to see if there are any outstanding debts, liens or judgment on the property. Any annotation should give you an idea that the property may still have to satisfy a money debt. You do not want to buy a property for which you would have to pay twice the amount as you would have paid for one with a clean, good title. If the property has any outstanding tax or property liens, you may have to pay for them before you can have the title.

Negotiate With The Bank

Although banks necessarily want as much amount as they can gather from a property to recover any of their losses, they can still be open for negotiations especially if the subject property is one which has been on the market for too long. Normally, banks are flexible when it comes to bank owned foreclosures that are in need of major repairs. If you are one who can manage a fixer upper property and a remodeling project either for resale or rental, then negotiating with the bank can give you a favorable outcome.

Tips For Using Prudential Real Estate Bank Owned Foreclosure List

Investors and home buyers are discovering the Prudential real estate bank owned foreclosure list offers a vast array of discounted homes. Foreclosure houses are moving up the ranks as being the preferred choice for buyers since they are priced below market value.

The Prudential real estate bank owned foreclosure list encompasses all types of residential properties, as well as industrial and commercial real estate. Regardless of the type of realty you prefer, chances are the Prudential foreclosure list can help you locate it.

Bank owned houses are foreclosure properties that were not sold through public auction. Houses are returned to the servicing lender and banks list the properties through realtors. Their primary goal is to recover foreclosure costs and prevent future expenses. Banks are responsible for property taxes, insurance and general maintenance so they reduce the price to entice a quick sale.

Due to the extreme magnitude of bank foreclosures, several million distressed properties are available nationwide. Based on the number of homes it has become virtually impossible for banks to handle the sale of each property. Therefore, lenders enlist the assistance of local realtors to list bank owned properties, arrange showings, and mediate purchase price negotiations.

Buyers submit offers through Prudential realtors, just as they would when making an offer on other types of listed property. Agents present realty offers to the mortgage lender who in turn accepts, declines or provides a counter-offer.

Banks reduce the cost of foreclosure houses in order to remove toxic assets from their books. The Federal Reserve Bank provides money to lenders based on profit margins. If mortgage financiers hold a bounty of stagnant real estate the amount of money they receive for lending purposes can be discontinued until they become profitable.

For this reason, mortgage lenders are rarely willing to further reduce the asking price of bank owned homes. Buyers who plan on purchasing Prudential bank owned foreclosures should be prepared to pay the full asking price unless substantial damage is found during the home inspection.

In order to submit offers on Prudential foreclosure homes, buyers must obtain prequalified financing. Prudential realtors can help buyers locate mortgage providers or buyers can seek out lenders on their own. One of the most trusted sources for mortgage loan comparison is BankRate.com.

If buyers are able to purchase bank foreclosures with cash they might be able to further reduce the asking price. Banks are sometimes willing to reduce the price of bank owned properties when a cash offer is presented. Buying houses with cash eliminates the possibility of buyers not being approved for a home loan and lessens the time required for closing. Many real estate investors purchase bank owned real estate with cash in order to obtain the best deal and expedite closing.

Individuals interested in buying Prudential real estate bank owned foreclosures can review property listings and obtain contact information for the listing agent at PrudentialProperties.com.

Going From Bank Foreclosure Listing Browser to Home Buyer

If you have been looking at a bank foreclosure listing service, you may be eager to buy your own property. If you want to go from browsing a bank foreclosure listing to being the proud owner of a home, however, you need to start by getting ready to buy. Often, this means taking care of financing first. Foreclosures are priced to sell and you will have more negotiating power if you have financing in hand and are ready to buy quickly. Therefore, make sure that you can get pre-approved for a loan or line of credit with a lender. This will allow you to secure financing quickly. Compare several lenders – including banks and hard money lenders – to find the best terms and rates possible. Work on improving your credit rating so that you can secure the best rates. When you find a foreclosed home that you want, you will be able to act quickly to secure a mortgage.

In addition to financing, make sure that you have the information you need to act quickly to close on a foreclosure. Have assessors and inspectors in your address book, so that you can quickly get more information about a property when you need it. Research foreclosures markets and neighborhoods so that you are knowledgeable about an area and are prepared to act when you recognize a good price on a property.

Finally, going from a browsing a bank foreclosure listing to owning a home requires the right mind set. Once you have done your research and have secured your financing, you need to prepare yourself for buying a home. Talk to homeowners or read about the buying process so that you feel more confident about the procedure and get a buyer's agent if you find you are anxious about contacting sellers in a bank foreclosure listing.