Foreclosures , like-kind exchanges and involuntary conversions

The forgoing are substantive corporate tax payer rules for earning lucrative tax credits in each foreclosure. The Treasury code or certain dates and numbers seem to be aligned with key timing devises and this is believed to give the insiders the edge in courts across America

With understanding both parties in a court case are fighting to prevail then assume if the consumer rob’s the foreclosing parties of the foregoing  he will remove any least interest in proceeding meaning holding onto your  foreclosed property .

The tax and loss of benefits is otherwise  too great!  For example , if a taxpayer did not claim on a federal tax return for any taxable year ending after September 11th, 2001 and on or before September 8, 2003, the additional first year depreciation deduction allowable for the remaining carryover basis of qualified property or 50-percent bonus depreciation property acquired in a transaction described in section 1031(a), (b), or (c), or in a transaction to which section 1033 applies

Additionally the taxpayer did not make an election not to deduct the additional first year depreciation deduction for the class of property applicable to the remaining carryover basis, the taxpayer may claim the additional first year depreciation deduction allowable for the remaining carryover basis in accordance with paragraph (f)(5) of this section.

What is the significance of these complex tax rules dating back to … 911 ? 

  • From 10-19-87 to 9-11-2001  . .  . Starting with Black Monday
  • From 9-11-2001 to 5-11-2018 . . . .Starting with 9-11
  • From 5-11-2018 to 7-8-2015 . . .  .Starting with 5-11 Dodd Frank sunset

From 5-11-2018 back 1038 days to the morning the NYSE Computers closed down the markets?

Follow the codes friend . . . follow the  codes  ! Such as §1038. Certain reacquisitions of real property (a) General rule is If- (1) a sale of real property gives rise to indebtedness to the seller which is secured by the real property sold, and (2) the seller of such property reacquires such property in partial or full satisfaction of such indebtedness, then, except as provided in subsections (b) and (d), no gain or loss shall result to the seller from such reacquisition, and no debt shall become worthless or partially worthless as a result of such reacquisition.

A series of transaction leading to requisition and resulting from series of like-kind exchanges is by law causal to and involuntary conversions. Get It?

You NEVER owned your home !

  • Auditors/ Accountants
  • registerclaims@live.com
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AUDITOR FINDINGS -insider trading on loan numbers ?

We ask the question …”how can a loan number INSIDER CODE reveal the Dodd Frank Cut off date of 5-11-2018 if the market had not yet crashed ?” Well here it is and it’s true.

The findings from a March 15th 2018 audit of the borrower’s file indicates  the 5-11-2018 legislation expiration is a short sellers mark . The audit picked up the date which appears used by insiders privy to alleged concealed loan numbering timing constraint.

The loan numbers have been suspected to hold more than  meets the eye according to SECONDARY  whole loan foreclosure auditors .  Concealment will tilt the scales with respect to a notional value – the total net amount of a derivative transaction, usually an interest rate swap, a forward contract, a cross currency swap or an options contract.

Here the loan number 2503134008 reveals a willful effort to gain advantage using a  numeric code system designed by insiders as far back as 2005.  The loan number is valued at 40 years prepaid interest that runs from the date of the loans closing to Dodd Frank sunset 5-11-2018.

Is this another example of the Y-2K warnings?

You be the judge!

Loan number 2503134008

Preferred – 25.00
Common-  833.33
Bond- 10,833.33
Balance Out- 433,333.33
Installments – 34,666.67
Years – 12.5
Per Annum – 366
No of days- 4575
Mortgage Date – 10/31/2005
End Date-  5/11/2018

 

for more information registerclaims@live.com

 

Chapter 13 – Cancellation of Debt & Involuntary Conversion [Not intended as a legal opinion]

Date

Dear US Trustee

In Chapter 13 bankruptcy, the United States Trustee supervises the private trustees who administer Chapter 13 cases. In this chapter, the trustee does not liquidate the debtor’s assets, but instead evaluates the debtor’s financial affairs and makes recommendations to the court regarding the debtor’s proposed repayment plan.

A Chapter 13 debtor must propose a plan that devotes all disposable income to debt repayment over a period of up to five years. Most Chapter 13 cases are administered by “standing trustees” appointed by the United States Trustee to administer all cases filed in a particular geographic area.

In my case I am asking the US Trustee to intervene and affirm or formally reject the evidence obtained to date that clearly shows a back dating scheme under the US governments stern warning about Y2 K and 26 US Code section 61 consideration .

In the cancellation of debt is the involuntary conversion of title to land under a utilities, gas or other energy 99 year leasehold schedule. The attribution falls under section 61 is the attribution of ordinary income that is either paid or owed to the filing party in Ch 13

The inability or neglect with regards to addressing COD Income and sec 108 accelerated recovery as discovered in this case is not an option. Attribution by direct investment is subject to forfeiture that may or may not be cause for abandonment and 1099 A issued by foreclosing entity.

Please see attached SPS Statements

Respectfully

Mr. BK Filer

Taxation of Worthless and Abandoned Partnership Interests

Homeowners are taxpayers first before they are mortgagors and only the mortgagor can fall into default. Auditors who reconstruct the general ledger know that accounting is empirical, it is damning and prima facie to all fact in a matter.

The tax payer is a mortgagor who’s earnings and  credit qualified  him for financing received on the date shown on the final HUD 1 statement.

The property was sold at closing under the TRANSFER RIGHTS IN PROPERTY by tax deferred exchange

The note was cancelled at 135% of its face value

Cancellation of debt causes the involuntary conversion of title into consideration paid. The sale is tax deferred  and recognized but not realized until the year of disposition.

The amount paid at 135 percent of the cancelled note is expensed by an LLC as ordinary and credited back to LLC Directors as a pass through.

THIS MEANS THE HOME IS SOLD AND ITS APPRECIATED VALUE PAID OUT IN 20 SEMI-ANNUAL INSTALLMENTS TO YOU AS WAGES ORDINARY INCOME FOR PROPERTY PLACED INTO SERVICE.

SERVICES RENDERED

YR SALE  …..   586,300.00
135 PERC ….   791,505.00

12 YRS     …..    205,205.00
PER YR    …..   16,945.09

COUPON …..    2.890%

CAPITALIZED 7,100,093.00
FACTORED        586,300.000

Borrowers are by involuntary conversion held to having exchanged title for member bank sponsored investments shares of corpus paid to  corporations such as Bank of America or BAC partnerships.

Just how the court can hear the tax matter issues is unknown. The foreclosure courts lack the jurisdiction for determining the type and for what consideration the abandonment is made.

Nor can it hear or decide the matter of  ordinary versus capital gains using 12 years of installments  versus the  same amount carried annually as net operating income . Its generally held to lack jurisdiction to even consider the non nonrecognition rules and requirements in tax deferred series of  like kind exchanges  where servicing rights are barred and mortgage debt was cancelled

Therefore the court is asked to consider dismissing the foreclosing agent claims  hearing the matter of foreclosure  that falls under the U S Tax Code section 1033 and CFR 1.751  constructive liquidation of a  tax matter partnership interest .

registerclaims@live.com

Do you see the Y2K Bug at Work

registerclaims@live.com
Auditors

Below is an actual file audited as of year end 2017. The numbers at first glance may appear meaningless.

Here are the original loan amount and appreciated value  using 135 Percent of the notes face value.  The unrealized  balance was offset by a payoff figure provided by alleged servicing agents attorneys .

The difference between  unrealized  balance  and payoff figure provided by attorneys is 9873.37.  We use a future date July 31, 2045 and factor in the difference of 9873.37 and then adjusted 7 days 61 days and then back to January 1st 2000.

Next the auditor subtracted the last two dates May 12, 2018 and January 1,2000 and it equals a number that corresponds to a date in MS Excel .  May 11th 2018 which is the Dodd Frank legislative sunset .

Look again because what you think you see is one date is in fact another. . . 5/11/18 = 1918 and Total of 99.61 years backdating !. The July 31 2045 future date  came from an attorneys file number and was deciphered once again by way of  the Y2 K  formatting  controversy.

Millennium Y-2 K “BUG” Error.

 

According to National Geographic Research Society “As the year 2000 approached, computer programmers realized that computers might not interpret 00 as 2000, but as 1900. Activities that were programmed on a daily or yearly basis would be damaged or flawed. As December 31, 1999, turned into January 1, 2000, computers might interpret December 31, 1999, turning into January 1, 1900.

Banks, which calculate interest rates on a daily basis, faced real problems. Interest rates are the amount of money a lender, such as a bank, charges a customer, such as an individual or business, for a loan. Instead of the rate of interest for one day, the computer would calculate a rate of interest for minus almost 100 years!

So who is receiving  the back dated interest ?  As auditors our job is to affirm the above file is indeed back dated. Maybe not 100 years but 99.61 in a real example of the Y2 K  computer glitch.

The “bug” is for real !

Auditors and Secondary Accounting

Tel. 202-550-8364

YOU MUST RECONSTRUCT THE GENERAL LEDGER AND ARGUE FACT:

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

Write us : registerclaims@live.com

The Y2K Bug is Real !

According to researchers at National Geographic research Society, the Y2K bug was a computer flaw, or bug, that may have caused problems when dealing with dates beyond December 31, 1999. The flaw, faced by computer programmers and users all over the world on January 1, 2000, is also known as the “millennium bug.” (The letter K, which stands for kilo (a unit of 1000), is commonly used to represent the number 1,000. So, Y2K stands for Year 2000.) Many skeptics believe it was barely a problem at all.

As the year 2000 approached, computer programmers realized that computers might not interpret 00 as 2000, but as 1900. Activities that were programmed on a daily or yearly basis would be damaged or flawed. As December 31, 1999, turned into January 1, 2000, computers might interpret December 31, 1999, turning into January 1, 1900.

According to an secondary markets accountant and expert in the field of Banking and booking whole loan sales the Y2 K bug is the culprit in each foreclosure file reviewed .

The auditors has found evidence of back dating which distorts calculating interest rates on a daily basis.

Banks,  instead of facing real problems with how they calculate rates instead found a windfall . Interest rates are the amount of money a bank, charges a customer, such as an individual or business, for a loan.

Audits have revealed instead of the rate of interest for one day, the banks computers are purported to calculate a rate of interest for minus almost 100 years!

At foreclosure sale the Grantee is alleged an innocent third party purchaser for value. The concern is where the value of the property is five percent of the amount paid by investors.  This would explain some of the  allegations made by homeowners that they found their note was sold up to 10 times.

Below is an example illustrating the issue

5/11/2018   12/30/00   05/11/17
5/11/2018   12/30/00   05/11/17

Looking at both line items close. Can you tell where the 100 years is buried ?

More to come

Secondary Auditors / Form 1099 Auditors

registerclaims@live.com

Only a Forensic Examiner can determine the Validity of an “Original” Note

A worthless web site called livinglies professes “Only a Forensic Examiner can determine the Validity of an “Original” Note”

The website plays on peoples weakness with daily hype and propaganda for the publisher

If you want to audit your file would will need the final HUD I , any foreclosure correspondences from the opposition and the purported servicing statements to date.

We use this data to demonstrate the cause of the default and purpose of the foreclosure under the Dodd Frank legislation and debt collections practices act under the IRS for something called COD income.

The federal tax code uses the term “involuntary conversion” to refer to cases in which you receive compensation for the destruction, theft or confiscation of property. If you end up with a new property to replace the old one, you usually won’t have any immediate tax implications. But if you just take the money and walk away, an involuntary conversion may be taxed like a regular sale, or a voluntary conversion.

Web sites like livinglies want you to believe there is a prevailing banker fraud involved in your case. The truth is revealed in an audit that encompasses gross amount of loan proceeds and attribution of COD income COD is the cancellation of debt and involuntary conversion of debt to equity paid to you as income.

The income is paid over installments as ordinary and taxed at the prevailing state and federal rates. This is all divulged in the post foreclosure issued tax forms 1099 A and 1099 C

You are going to get nowhere grasping at straws and are better off with a tax attorney if you can afford it . Start with our audit and let us show you what we find in support of the above mentioned arguments for claims.

If we cannot find determine or discover what we are alleging herein – there is NO COST

What you think you are losing is what owed to you …

registerclaims@live.com

Bad Debt Sold to YOU !

Irreparable harm is caused by withholding disclosures for subrogation advantage in a fictitious foreclosure and LLP members who act with officers and directors of member banks to remove occupants from property they never owned. To date LLP fail to report to consumers , courts or their shareholders of the public entity “a national association “ the proper tax payer characterizing of earnings and cause for the appreciation of certain non-performing assets leading to the sale of bad bank debt to consumers.