Video instructions and help with filling out and completing Form 5495 Judicial

Instructions and Help about Form 5495 Judicial

Hello everyone it's Thursday December the 9th and the end of the year is closing in on us quickly tonight we have a special guest we have Jeanne Keating on with us tonight he's going to cover a lot of topics this is going to talk cover tax law commercial law accounting law trust law adverse claims and void judgments are you going to touch on those and explain a little bit about those and why we're not winning in our cases hi Jeanne how are you great great to have you with us or those that don't know you you want to tell us a little bit about yourself just a little intro mostly everybody knows who you are but well I've been teaching for 50 years I've been doing research for 50 years I have a degree in commercial banking law and commercial law and I understand the Uniform Commercial Code I understand trust law has that apply all these or all these four subjects are related you have to understand tax law trusts law commercial law and accounting if you don't you can't understand anything it's going on and that's part of the problem is when people go into court you don't know what kind of jurisdiction of course operating under so what did you discover about all the stuff that we're doing how are we doing it wrong well if you go in there these courts are not these courts have two jurisdictions they have a proper public side which operates on in commercial and a private side which operates under the common law and your course of contract if you go in their contract with them means they got jurisdiction how do you not contract with them well you make a special parent you like I did I did a letter rogatory and every time I've done one I've been successful with it you gotta read out P - 501 + 3 - 500 - it tells you how to do a conditional Scott acceptance upon proof of claim you have to challenge their right and most of these people are making presentiments on behalf of somebody else and they don't ever tell you what their authority to do that is when they do these loans that's what they're doing on a mortgage loan they're making a presentment on behalf of somebody else well they don't have any authority to do that but if you don't challenge it then they get away with it you can kill all these mortgages at the administrative level without ever getting an equation never get to court what do you do if you're in a state that's not judicial though they never go to court anyway what do you do in that case well judicial like Ohio's did you just report they file a complaint against you I know but in a non judicial okay well non judicially they they do a they can't do that they can't do in our judicial proposer because it's a confessed judgment the deed of trust contains they confess judgment and you can't have that's where they get the power to go read the power of sale clause and your deed of trust are you still there yeah I'm listening to you okay when you when you when it goes into when lolled goes into default they have the right on their power of sale that's a confessed government in California under 1130 one through eleven thirty four of the California Civil Code you cannot do a confess judgment on a mortgage loan unless that borrower as consented to it and that means that he has to file an old and an order with the court has to be certified by an attorney all these deeds of trust contain a confessed judgment that's number one number two is you're not dealing in a mortgage loan you're dealing in an investment contract and they're holding you liable on a contract to which you're not the not a party and that's the pooling and Servicing Agreement and under the statute of frauds which is 1624 section 16 24 of the California Civil Code and it's in the Uniform Commercial Code at 2200 one section two two zero one and the statute of frauds was designed to prevent the very thing that they're doing and it the statute of frauds is evidentiary and if you don't raise it you waive it and I don't know if one person who has ever raised to statute a fraud as a defense its evidentiary and the landmark decision on that it's the seacrest case because when you go to closing what they're doing is they're doing a loan modification because they made you a party to a contract which you're not a party to you're a third party caught you're a third party contract e to the pooling and Servicing Agreement and the proof of that is that's where your mortgage payments are going your mortgage payments go to the investors as a cash flow claim they're not going to the servicing company the Thursday come already passes them on they pass them on to the investor why are they giving them to the investor another thing that you need to you need to study is you're dealing in securities not negotiable instrument what you call a promissory note is the security because it has a maturity of more than nine months all these mortgages have thirty-year and 20-year maturities if you read title 15 section 78 c8n it says any note that has a maturity of nine months or less is excluded from the definition of a security because it's not a security it's a note where have you ever seen one promissory note that has a maturity of nine months or less you haven't and they also there's a disclaimer that's supposed to be in the credit application under title 1616 CFR 430 3.2 which says.

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