A 10 Point MUST System to follow:
1. The SPS statements reveal a SUB ACCOUNT …Contra accounting or something other than a mortgage.
2. Have you addressed the interest-bearing account?
3. Have you addressed the outstanding balance?
4. If you subtract both you get ZERO! 26 US Code Sec 1.1091 Wash Sale
5. It’s for an abandonment of title `! “Contra Assets”
6. You cannot foreclose on zero in a Non-judicial foreclosure GAAP ASC 860 and 140-3
7. They issued a 30-day notice of intent for order of entry “judgment” Fed Debt Collections Procedures Act
8. The courts order is an AWARD and NOT a right to enforce collateral at ZERO
9. The State is awarding the SPS Agent and taxing it to you as ordinary income
10. After the foreclosure sale your accountable for 35 % withholding as COD Income
See the reporting requirements under 26 US Code sec 1.6050.P where “lender and servicer are barred from collections…”
Secondary and Capital Markets Accountants
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