Mortgage Recovery Secrets
How Old Can The Mortgage Be
The mortgage must be less than 30 years old, and truly 29.5 years or less because it takes at least 6 months to reconvert the note before it is extinguished completely from both private and public records by The Federal Reserve.
If One Person Has Multiple Houses Can We Get A Referral For Each One
Yes, the person will need to mark the referring user's name at the top of their Intake Form(s).
Will Loan Modifications Count As A New Mortgage Loan
Unlike a refinance, a loan modification doesn't pay off the current mortgage and replace it with a new one. Instead, it directly changes the conditions of the loan.
What Law Gives Banks The Ability To Turn A Promissory Note Into Cash
12 U.S. Code § 372 gives "lenders" the right to convert a promissory note into Federal Reserve Notes under the citation, "any Federal or State branch or agency of a foreign bank ... may accept drafts or bills of exchange drawn upon it". This law ...
Who Sends The Mortgage Note Reconversion Check
The service provider for the loan sends the check, but not before recording it with the county as proof of the note being terminated. We will then receive the check and make payment from the dispersed funds to all relevant parties via Cashier's Check ...
What If One Dies Before Receiving The Check for A Mortgage Reconversion
After death of the holder in due course the payment will go to any immediate heirs - one who has a Power of Attorney (POA) is able to accept.
Can State of XYZ Still Be Signed By A Notary Out Of The Named State
No. Some states require completion of an approved notary education course and passing a state-administered exam for the given state. Notary publics can only notarize documents from another state when the notarial act is conducted within the ...
What Are The 3 Steps / Phases to This Promissory Note Reconversion Process
PHASE 1 : RESEARCH (15 DAYS) 1) We verify and research a members documents. If it’s determined that the note is not securitized or placed into a mortgage backed security, then we stop the process. PHASE 2: FILE (90 DAYS) 1) We will file assignments, ...
Why Does This Promissory Note Reconversion Process Work
Upon purchasing a home, a buyer actually acted as the investor and issued a promissory note backed by a mortgage, giving the bank an asset that’s traded and monetized/securitized for 15 or 30 years regardless of what happens to the property. The ...
What Are The Costs For Reconverting A Promissory Note
Prior Mortgage / Sale / Refinance / Foreclosure: We require 0% of note's face value as down payment, we will obtain our payment after the reconversion process is completed from the issued funds. For this scenario, because the home/property is not ...
What Are The Risks For The Promissory Note Reconversion Process
There is a potential loss of time spent to initiate the paperwork (~2 hours). And only in cases where one seeks satisfaction of a current mortgage would there be a temporary monetary loss, which is returned in full in cases of failure. Since the ...
Is There A Discount For Repeat Customers With The Promissory Note Reconversion Process
No. The process and costs always remain exactly relative, only varying because the promissory note's face value changes student to student.
Detail The Process of Promissory Note Reconversion / Satisfaction
The clause which mentions a 50% refund is in relation to PWA and H.E.R.A. This protects us due to all the money paid up-front to finance this process on a student's behalf. If the process fails, we get 50% of OUR MONEY back. The student pays nothing ...
Will The Promissory Note Reconversion Process Affect Our Current Loan
The promissory note(s) will be taken off the market and therefore extinguished. In short, one will obtain a satisfaction of the note when the money is received. This reconversion process for old promissory notes will not affect current-standing ...
Is There Potential Litigation One Must Go Through For This Promissory Note Reconversion Process
Everything is handled via private arbitration and private court actions. There are no court dates to show up for and no legal repercussions to fear.
Can A Promissory Note Be Reconverted From A Defunct Company / Lender / Bank
Defunct companies created the note, but the Federal Reserve holds and trades on the promissory note itself. Until the Federal Reserve is dissolved, these notes are reconvertable.
Who or What Is H.E.R.A
H.E.R.A. stands for Home Equity Reconversion Association and it is the organization performing the legal actions to have the Secretary of State and Federal Reserve take action on the claims we submit forth through the P.A.R. agent. The organization ...
Where Are The Funds Recovered From
The Equitable Admin Recovery Process for a promissory note or security involves constitutional due process and the Depository Trust Company (DTC) or the Depository Trust and Clearing Corporation (DTCC) for commercial real estate funds. Prior to state ...
What If A Property Is Purchased Under A Corporate Name or Entity
The process still works the same. If a promissory note was securitized and fractionalized, then there are funds able to be potentially recovered.
What If A Property Is Paid In Full With Cash
Then there would be no funds to claim because no promissory note was securitized and fractionalized upon.