Assignment & Securitization
Has your home been foreclosed? Or are you afraid that it will soon be? There are over 65 million loans that could be the subject of illegal foreclosures today. If yours is one of them, the only way to save your home is to get a Securitization Audit.
Wrongful Foreclosures
Did you know that thousands of foreclosures are illegal? Sadly, it is up to you to prove that the foreclosure is illegal.
The lender is not going to admit that he is engaged in a wrongful foreclosure against your property. He won’t stop either unless you present proof.
The best way to do this is to get a securitization audit to find out if your loan has been fraudulently securitized. And even if he already foreclosed on your property, a securitization audit can still reverse the foreclosure decision.
Homeowners across the nation are losing their homes because banks are conducting wrongful foreclosures. Fortunately, it has been found out that most banks have no right to foreclose on a property at all. In most cases, the banks have violated the law by fraudulently turning home loans into securities. Put simply, they are no longer the rightful owner of the note (loan) and deed (property), and thus have no right to foreclose.
Who’s Losing Homes
Who’s still losing their homes? Those who are not aware of what a securitization audit can do. For example, it could prove to the judge that the lender is trying to illegally foreclose on their property.
Right now, we have no way of knowing for sure how many thousands of foreclosures are illegal. That’s because these homeowners did not get securitization audits.
So, if you are a homeowner whose property has been foreclosed on or is in the middle of a foreclosure, get a Securitization Audit immediately to prove that the bank has or had no right to do so.
Securitization Crisis
The issue of securitized loans may seem complicated at first, but as time passes, its full impact to the average homeowner is becoming more and more apparent. What many people used to think as a scheme by homeowners to dodge their mortgage payments, is slowly being unravelled for what it really is.
In its simplest terms, securitization is just turning something into a security like a stock or a bond which can be traded on the stock market.
So where did things start to go wrong?
There are strict rules and regulations in turning a home loan into a security. However, these laws are often not correctly followed, leading to fraudulent securities and wrongful foreclosures. A securitization audit is the only way for a homeowner to find out if his loan has been securitized, and if it was done correctly. Most of today’s loans are securitized, but most are done incorrectly.
Lenders created mortgage backed securities (MBS) by turning millions of loans into stocks or bonds to be traded on the stock market, but in the process, separated the note from the deed. This means that the lender loses the actual ownership rights to the note, and therefore loses the right to foreclose.
They set up trusts that would hold these mortgages for IRS tax benefits. They have also created MERS (Mortgage Electronic Registration System) to circumvent county recording offices and reduce cost and time to properly record these loans legally and transparently.
Everyone fell for this scheme, including foreign and domestic investors like banks, large companies, hedge funds, and even the US Government.
Today, most investors do not own the notes that they claim to own. The servicer who collects your payments or is foreclosing on your home has no right to do so, and supreme courts have ruled against MERS’ right to operate.
The state governments, congress and the Securities and Exchange Commission are now demanding explanation from the banks. Class action lawsuits are being filed left and right.
Ultimately, the average homeowner is at the losing end of all this. They are the ones who are losing their homes, who are being kicked-out of their houses, and who are losing thousands of hard-earned dollars.
For the homeowner the first and most critical step to saving his home once a foreclosure has begun is to get a securitization audit.
What Should You Do if You Are In Foreclosure?
Call Us Immediately at 702-508-0335 or click here for more information. You need to protect yourself and your home with a Securitization Audit.