The recorded deed of trust is dated 2/27/2005 is the security for the loan given to the borrower Ignacio who holds title as a single woman. American Home key Inc is her mortgage lender and found to be a TEXAS CORP listed as an out of state company believed to be licensed to do business in California. The title company for filing claims is Chicago Title whose address is 535 N. Brand Blvd 3rd floor in the l city of Glendale for the state California.
Chase is the alleged agent for the beneficiary and concedes using a nominee to affect a sale at the loans closing. The nominee listed as an agent for the lender is MERS CORP whose Address is P.O. BOX 2026 City FLINT State MI Postal 46501-2026 and can be reached at telephone number 888-679-MERS
The mortgage was given at the time of the settlement disbursement in the amount of $ 395,000. I am concerned where the parties agreed that the note means the promissory note signed by borrower as dated February 26th 2006 and for which it states that BORROWER OWES LENDER $395,000.00 PLUS INTEREST .
I concede the promissory Note was given by the maker for consideration in the amount of the notes face value. This is stated in the HUD disbursement schedule the borrower cannot produce as it was never received as mandated by the Department of Housing and Urban Development.
The final HUD 1 disbursement schedule is far greater in importance than the note the borrower executes. The note is evidence of the obligation and collateral your client purports to still hold in good standing. The final HUD 1 demonstrates the delivery of the consideration to the borrower that can be traced as absolute and affirmed to have been wired as alleged by the real party in interest. The ABA wire is the quintessential economic factor for meritorious claims that may subject the mortgagee having lost its power of sale
The final amount or balance due upon which all other calculations are included (see attached) for the daily and monthly accrual for alleged delinquency, interest due to date, late fees , servicing fees and a per annum amount used to calculate a 30 day per diem rate charged for interest due to a certain cutoff date.
The mortgage your office originated or is holding as a successor is in fact a taxable event to the borrower at settlement where we allege you induced her to release and transfer her title. Now the question begs what are you foreclosing upon and who the party in default is.
By your offices own admission you are bidding on a lien not a property itself. In this disclosure you’re saying the trustee sale is for establishing a lost basis in the assets held. This controversy surrounding the basis in the assets is for value lost to a charges or write down. This in turn causes the mortgage receivable to be held a payable of the bank foreclosing and not for a foreclosure claim against Ignacio.
The title to the estate rests disturbed when you consider the public records. The subject property title records are clearly impaired as they read in an incoherent and disjointed manner.
My request on your behalf and for my own analysis is to withhold the forthcoming foreclosure and to order an abstract of title. Finally, by the trustee own admission they are directing you to the statutory trustee in the jurisdiction of New York.
Money wrongfully levied upon is “received” at the time the Government acquired possession of such money. Section 7426(h) authorizes the payment of actual, economic damages incurred by a third party in a wrongful levy suit if there is a finding that an officer or employee recklessly, intentionally, or negligently disregarded a provision of the Code. The third party must exhaust administrative remedies under the same rules set forth in section 7433(d).
My point is when the TRANSFEREE for subject loan is also the subsequent “SELLER” the sale and transfer is his own person or entity formed for the purpose of liquidating the assets and extinguishing the liabilities. The promissory note is lost to divestiture of the asset and no longer is payable over 30 years.