New “Foreclosure Mill” Service Tactic?

Whenever I get any mail from anyone I make it a point to save the envelope! Since all outgoing mail postage stamps are “created” by Pitney Bowes machines in-house (foreclosing law firms)…dates can simply be omitted, NO DATE and might have gone “Lost in the Mail” or take a long…long…long…long…time to arrive to you. Oh NO! WE JUST GOT FORECLOSED without any warning!
I know when this is coming because I check my file but those of you who don’t …Take a look at what I mean before you end up in the streets. I am not certain what Pitney Bowes guidelines are but this might be wrong for anyone to do.

CHECK THE DATES

Check out this story on “sewer service

Not only are they post dating the assignments but the material inside the envelopes might be dated months before you get it …thanks to this new tactic!

Whats The Difference between a Mortgage & a Note?

The terms loan, mortgage, deed of trust and note are sometimes used interchangeably by parties to a real estate transaction. Only when you get to settlement (when you see the huge stack of papers on the closing table) do you realize there is a difference. So let’s cover the note, the mortgage/deed of trust, and the differences between them.

The Note

(Signed In BLUE ink to protect against black ink “FRAUD”)

A note (or promissory note) is – very simply – a contract whereby a party makes a promise to pay a sum of money to another party under specific terms. In real estate, it is typically a borrower agreeing to make monthly payments of principal and interest over 30 years to a lender. The note has virtually nothing to do with the property itself, and can technically exist without any collateral at all. If the borrower doesn’t pay, the LENDER  can sue “under the note” and obtain remedies for breaching that contract. A “servicer” aka “debt collector” cannot if they have no equitable interest.

The Mortgage or Deed of Trust

While there are differences between a mortgage and a deed of trust, let’s ignore them for a moment, and use the term mortgage (because it’s only 1 word).

A mortgage is actually a transfer of an interest in property. While a mortgage is tied to the underlying debt created by the note, it is not a promise to pay the debt. It really isn’t a “promise” to do anything. Instead, it contains “granting” language – like a deed – which gives the lender the right to take the property if the borrower goes into default and doesn’t pay under the terms of the note signed in “BLUE” ink.

Key Differences

– A note is signed by the people who agree to pay the debt. A mortgage is signed by those who own the property being mortgaged. In a typical residential setting, signers of the note and the mortgage are the same, but they do not have to be. In a commercial context, you will often see the corporate entity which holds the property sign the mortgage, while the principals of the entity sign the note.

– A mortgage needs to be recorded in the county or town recording office, the note does not. Instead, the note goes directly to the lender.

For More Detail go HERE

Transfer Of Promissory Note

Negotiation Of Instrument=
Endorsement
Delivery of Instrument
Acceptance

Assignment Transfer Of Mortgage

Assignment=
Written Assignment
Delivery Of Instrument
Acceptance Of Delivery
Recorded

**DOCUMENT IS INVALID IF IMPROPER NOTARIZATION**or **FRAUDULANTLY TRANSFERRED**

The Lender Foreclosing must be the Owner of the NOTE along with valid Instruments.