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Thanks for the explanation.I don't know ,may be a bank can sell the loan
but is it LEGAL NOT to INFORM a homeowner?
If it's a new contract it should be a formal one with a homeowner's signature,right?
So ,Kathy,you checked once.Is it enough? They could have done it the next day after you checked.Or not?
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Everyone simply needs to contact the company they send their payments and ask to see the note. If no note, then there is a problem and you need to get a lawyer.
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Title insurance is WORTHLESS anyway. Even if they are wrong and made a mistake all the fine print covers their ass and your screwed anyway. They are NO WIN situation. I've never heard of anyone beating the title company in court. Have you?
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The best way to get a mortgage is to get one from a private investor. They make a lot more money on their investment than in the stock market or many other types of investments and you know exactly who you are giving the money to. Seems to me it's better to give money to people instead of to banks, especially if you can give it to people you know.
Another option is to get a hui together. Everyone puts in a sum of money and they buy a house for cash for one of the members. Everyone keeps putting in sums of money until everyone has a house. By buying houses outright for cash, they are a lot cheaper. If you buy a $100K house with a mortgage, you will end up paying $300K by the time it is all finished. Get 100 people to put in $1000 a month, that will generate enough money for the hui to buy one house per month if you can find houses at 100K per house. The people who get the money are selected by lottery or some system and the last one to get a house would have to wait a little over eight years. They would get a PAID FOR house out of it, not a mortgage. The other option would be to give the folks $100K worth of construction loan, too. Either way, if you had some sort of housing hui together, folks could end up in their own paid for houses without all the banks getting rich.
"I like yard sales," he said. "All true survivalists like yard sales."
Kurt Wilson
"I like yard sales," he said. "All true survivalists like yard sales."
Kurt Wilson
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I just checked with County of Hawaii and it states MERS as mortgage holder at time of loan, nothing noted after that date so our loan is part of the mess.
That means who ever bought our note did not record it, as surely it was sold and perhaps many times instantly. I bet they made 4 to 5 times profit on our note.
I sent an email to County of Hawaii informing them of the issue, perhaps they already know.
GMAC HAS 60 DAYS TO LET ME KNOW WHO HOLDS MY NOTE...I just want to know who will release my note when its paid.
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Hotzcatz, we may need to go to systems like that for homes if, by some chance, the mortgage business from banks go away.
