[00:00.000 --> 00:04.800]  This news brief brought to you by the International News Net.
[00:04.800 --> 00:11.520]  In Iraq Wednesday, eight Iranian protesters were killed and 425 wounded in a raid on a
[00:11.520 --> 00:17.680]  camp housing Iranian refugees who once belonged to the peoples Mujahideen of Iran.
[00:17.680 --> 00:21.460]  The group fought back with only knives and toxic bombs.
[00:21.460 --> 00:26.060]  The British Foreign Office warned families of two British hostages in Iraq their loved
[00:26.060 --> 00:28.840]  ones are likely dead.
[00:28.840 --> 00:34.040]  Homeland Secretary Robert Gates who is visiting Iraq said some US troops may leave Iraq ahead
[00:34.040 --> 00:35.360]  of schedule.
[00:35.360 --> 00:44.400]  Gates has offered to mediate the ongoing Kurd Arab dispute.
[00:44.400 --> 00:50.440]  Homeland Secretary Janet Napolitano Wednesday outlined the Obama administration's approach
[00:50.440 --> 00:57.240]  to preventing terrorist attacks, a strategy that will rely on refining and expanding initiatives
[00:57.240 --> 00:59.560]  launched under George Bush.
[00:59.560 --> 01:05.160]  Napolitano's strategy incorporates officials at every level of government nationwide.
[01:05.160 --> 01:11.040]  Napolitano told the Council on Foreign Relations Americans have a role along with local law
[01:11.040 --> 01:15.440]  enforcement, the federal government and the international community.
[01:15.440 --> 01:20.960]  She urged people to prepare their families, volunteer, get free training and join local
[01:20.960 --> 01:23.160]  emergency response teams.
[01:23.160 --> 01:28.160]  One element of Napolitano's approach will be the expansion of a pilot program started
[01:28.160 --> 01:33.760]  during the Bush administration to train police to report such suspicious behavior as the
[01:33.760 --> 01:37.720]  theft of keys from a facility that keeps nuclear waste.
[01:37.720 --> 01:43.120]  A key component of anti-terrorist efforts will be a national network of 70 so-called
[01:43.120 --> 01:48.640]  intelligence fusion centers bringing federal, state and local officials under the same roof.
[01:48.640 --> 01:58.640]  Top of the hour news brought to you by INN World Report.
[01:58.640 --> 02:03.920]  Barack Obama launched a vigorous defense of his health care proposal Wednesday, pointing
[02:03.920 --> 02:09.880]  out the option of doing nothing would result in insurance premiums doubling for most Americans
[02:09.880 --> 02:12.040]  over the next decade.
[02:12.040 --> 02:16.600]  Saying there had been a lot of misinformation about his proposal, Obama said keeping the
[02:16.600 --> 02:22.320]  current system was a prescription for escalating health care costs, a lack of insurance for
[02:22.320 --> 02:29.120]  people with pre-existing conditions and businesses struggling to provide health care to employees.
[02:29.120 --> 02:33.600]  Obama said his plan was being deliberately distorted by his critics, adding, nobody is
[02:33.600 --> 02:39.600]  talking about some government takeover of health care, I'm tired of hearing that.
[02:39.600 --> 02:44.600]  Under the reform I proposed, if you like your doctor, you keep your doctor.
[02:44.600 --> 02:48.800]  If you like your health care plan, you keep your health care plan.
[02:48.800 --> 02:51.800]  These folks need to stop scaring everybody.
[02:51.800 --> 03:01.080]  Top of the hour news brought to you by INN World Report.
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[04:00.920 --> 04:08.440]  You are listening to the Rule of Law Radio Network at ruleoflawradio.com.
[04:08.440 --> 04:11.120]  Live free speech talk radio at it's best.
[04:38.440 --> 05:06.560]  This is the Rule of Law, Randy Kelton and Deborah Stevens.
[05:06.560 --> 05:15.000]  We are here Thursday evening, August 6, and we have our very special guest, Sharla, back
[05:15.000 --> 05:16.000]  this evening.
[05:16.000 --> 05:20.000]  I believe Randy Raylor will be joining us tonight as well.
[05:20.000 --> 05:22.720]  Sharla, thank you for joining us again tonight.
[05:22.720 --> 05:24.360]  Thanks for having me.
[05:24.360 --> 05:25.360]  Glad to be here.
[05:25.360 --> 05:27.040]  We really appreciate it.
[05:27.040 --> 05:33.000]  So tonight, we wanted to get into a little bit more of the specifics about the fraud
[05:33.000 --> 05:38.880]  and the kinds of things that you find when you're doing these examinations, these forensic
[05:38.880 --> 05:45.240]  analysis of these mortgages and the equity lines of credit and such.
[05:45.240 --> 05:50.240]  So can you please give us an overview of that and some specifics?
[05:50.240 --> 05:51.240]  Sure.
[05:51.240 --> 05:57.400]  And mainly, we'll talk about, we'll start with just like a purchase money loan, which
[05:57.400 --> 06:01.840]  is, you know, purchase of homestead, okay?
[06:01.840 --> 06:07.640]  And most of the time in that type of mortgage, what you're going to find are violations,
[06:07.640 --> 06:14.920]  errors, and problems with disclosures from the very beginning, which is the loan application
[06:14.920 --> 06:21.680]  process or requirement that the borrower is provided with disclosures within a certain
[06:21.680 --> 06:25.560]  number of days from the time they make application.
[06:25.560 --> 06:32.280]  And I would say probably as much as 60% of the time, those days are not even met from
[06:32.280 --> 06:37.400]  the beginning, you know, and it just goes from there.
[06:37.400 --> 06:45.120]  After that point, there are violations in the appraisal, which establishes the value.
[06:45.120 --> 06:54.480]  And sometimes, consistently, you can see violations within the closing documents themselves, you
[06:54.480 --> 06:59.680]  know, signatures aren't notarized.
[06:59.680 --> 07:09.040]  It will say that Jerry Smith is a married man, but on the application, it will say that
[07:09.040 --> 07:12.040]  he is single.
[07:12.040 --> 07:20.160]  You know, so and some of it people may think are slight errors, but the fact remains, there's
[07:20.160 --> 07:22.440]  not room for error.
[07:22.440 --> 07:31.040]  The law has written the tolerances that are available for every step of the process.
[07:31.040 --> 07:38.400]  And so anything that is outside of that tolerance obviously is an error on the part of the lender,
[07:38.400 --> 07:49.200]  and they can be held accountable for the inequalities that exist within every file.
[07:49.200 --> 07:56.400]  You know, no file is going to be the same, but there are possibilities that a lot of
[07:56.400 --> 07:59.240]  the same violations are within every file.
[07:59.240 --> 08:01.360]  Does that make sense?
[08:01.360 --> 08:03.360]  Absolutely.
[08:03.360 --> 08:08.080]  So what can be done about some of these violations?
[08:08.080 --> 08:14.320]  What I'm interested in doing and what can be done is there's different thought processes
[08:14.320 --> 08:20.560]  here if you can actually take someone that is not behind on a mortgage and look at what
[08:20.560 --> 08:26.840]  type of mortgage they had and do a forensic analysis on it, you're probably going to find
[08:26.840 --> 08:35.760]  inequalities and they will be able to go in back through the lender and sometimes depending
[08:35.760 --> 08:38.760]  on what the violation is.
[08:38.760 --> 08:45.480]  And let me add just real quick here, I'm very hesitant to go in and say definite as far
[08:45.480 --> 08:53.600]  as specific remedies because it depends on what the violation is and how blatant it is.
[08:53.600 --> 09:00.040]  So that's the very hypothetical thing to try to, you know, tell the audience what kind
[09:00.040 --> 09:03.520]  of exact remedy, you know what I mean?
[09:03.520 --> 09:09.200]  Maybe you could give us some examples of like some things that you find that are glaringly
[09:09.200 --> 09:14.560]  wrong an example and like what a remedy would be for something like that.
[09:14.560 --> 09:22.080]  Well, let's say for example, one of the most common is the truth in lending, which is the
[09:22.080 --> 09:26.320]  disclosure of the annual percentage rate on every loan.
[09:26.320 --> 09:32.040]  The tolerance within the law for that has to be disclosed within an eighth of one percent
[09:32.040 --> 09:35.160]  of accuracy.
[09:35.160 --> 09:41.320]  So a lot of times what will happen is people can go in and oppose the lender directly.
[09:41.320 --> 09:46.760]  If they are educated and they know the violation is there, the lender will sometimes give them
[09:46.760 --> 09:57.120]  a refund of the monetary amount that they have stated to overcharge them.
[09:57.120 --> 10:03.400]  Sometimes people can actually, you know, go through a legal process and get back more
[10:03.400 --> 10:05.440]  than that.
[10:05.440 --> 10:12.320]  It depends on the individual's comfort and how far they want to take it.
[10:12.320 --> 10:19.800]  And then there are some cases where they actually will process and get three times the original
[10:19.800 --> 10:25.360]  amount back to them in the monetary, yeah.
[10:25.360 --> 10:26.360]  That's great.
[10:26.360 --> 10:36.840]  So there is opportunity for benefits and sometimes large benefits, but the first step obviously
[10:36.840 --> 10:43.120]  is to get a hold of all of the loan documents and application documents to find out the
[10:43.120 --> 10:51.280]  beginning of the problems that exist in each file.
[10:51.280 --> 10:54.400]  Absolutely.
[10:54.400 --> 10:56.720]  So Randy, are you there?
[10:56.720 --> 10:57.720]  Is Randy still there?
[10:57.720 --> 10:58.720]  I'm here.
[10:58.720 --> 10:59.720]  Okay.
[10:59.720 --> 11:00.720]  Great.
[11:00.720 --> 11:07.480]  So Randy, what could be like in the cases that Charla is mentioning, what do you see
[11:07.480 --> 11:11.120]  as something that we could do to go along with that?
[11:11.120 --> 11:23.400]  Well, all we have to do is find fraud in the document and there is a lot of incentive for
[11:23.400 --> 11:26.560]  the mortgage companies to introduce fraud.
[11:26.560 --> 11:38.500]  This is a very complex financial arrangement and there are one thing that keeps turning
[11:38.500 --> 11:45.760]  up in all of these are fees that are charged to the buyer, fees the buyer knew nothing
[11:45.760 --> 11:51.200]  about and one place they tend to do that is at or near closing.
[11:51.200 --> 12:00.320]  This generally takes quite a while to get all of the paperwork and all the loan papers
[12:00.320 --> 12:05.680]  and the credit checks and everything in place to get a loan done and by the time they do
[12:05.680 --> 12:10.880]  you've got somebody who really likes this house and really wants to be in it.
[12:10.880 --> 12:17.400]  The more time they put into it and the more effort, the harder it is for them to back
[12:17.400 --> 12:18.880]  away from it.
[12:18.880 --> 12:29.400]  The seller knows that so they tend to hide these fines and fees and costs until the buyer
[12:29.400 --> 12:38.640]  is not in a good psychological frame of mind to act rationally when they find out about
[12:38.640 --> 12:46.280]  these fines and fees or even if they ever do and I think anybody out there who has any
[12:46.280 --> 12:53.000]  kind of professional capacity where they provide a product or service to the public understands
[12:53.000 --> 12:56.720]  how there are all sorts of hidden things that you can do.
[12:56.720 --> 13:04.120]  Mechanics, you go to a mechanic and you tell them well I turned the key and it just clicks
[13:04.120 --> 13:05.720]  and doesn't do anything.
[13:05.720 --> 13:06.720]  You need a new starter.
[13:06.720 --> 13:10.800]  So they bring it in, they take the starter off to clean it to put it back and then take
[13:10.800 --> 13:15.680]  the battery post off to clean the battery post because that was a problem to start with
[13:15.680 --> 13:18.620]  but they know you don't know that.
[13:18.620 --> 13:22.280]  So they can do this sort of thing, they do it all the time.
[13:22.280 --> 13:29.040]  The tendency is the same in real estate except there are a lot more places to hide.
[13:29.040 --> 13:35.080]  I was looking at one the other day that Charlie gave me and I was amazed.
[13:35.080 --> 13:43.920]  The primary reports, the credit report on the individual showed that with the loan that
[13:43.920 --> 13:50.800]  his regular debt load was 87% of his income.
[13:50.800 --> 13:56.800]  But after it was corrected and all of the fudge factor was taken out of it, it turned
[13:56.800 --> 14:04.840]  out that with the loan his debt load was actually 107%.
[14:04.840 --> 14:10.880]  So even if he doesn't eat, doesn't buy gas, doesn't spend a dime, he's still 7% in the
[14:10.880 --> 14:11.880]  hole.
[14:11.880 --> 14:21.600]  That's what happened to that note and I have no reason to believe that is an unusual occurrence
[14:21.600 --> 14:26.780]  because the lender, the bank got their money already.
[14:26.780 --> 14:36.560]  They made the note, they got it all closed and then they sold the note to someone else.
[14:36.560 --> 14:42.320]  They got their portion of the income and now the person who bought the note is waiting
[14:42.320 --> 14:46.840]  for the lender to pay it off.
[14:46.840 --> 14:53.480]  And when you bundle all of these into a large group, if a few of them don't pay it off,
[14:53.480 --> 14:56.400]  well it falls within the statistical mean.
[14:56.400 --> 15:02.360]  They expect there to be a certain number of failures in these.
[15:02.360 --> 15:12.440]  The problem they had was this balloon in real estate where real estate's going up like crazy.
[15:12.440 --> 15:20.320]  So when the guy does the loan, he's actually somewhat upside down but they know that the
[15:20.320 --> 15:22.940]  property values are going up.
[15:22.940 --> 15:28.640]  So as the property goes up, he gets in the black, he gets to looking good until the bubble
[15:28.640 --> 15:36.680]  breaks and the bubble has broken and when the property values start to fall down a little
[15:36.680 --> 15:41.600]  bit, all of a sudden this guy is upside down.
[15:41.600 --> 15:49.840]  He owes, the building is worth much less than what he owes on it.
[15:49.840 --> 15:53.320]  That's how these people are getting, the place is taken away from them.
[15:53.320 --> 15:56.640]  Randy, this all sounds like usury.
[15:56.640 --> 15:58.680]  That's exactly what it sounds like.
[15:58.680 --> 16:00.320]  Yeah, I know.
[16:00.320 --> 16:07.600]  You got this house, you owe, you don't have enough equity in it so you have to come up
[16:07.600 --> 16:08.600]  with more equity.
[16:08.600 --> 16:10.720]  If you can't come up with equity, you can take the house.
[16:10.720 --> 16:13.040]  We can go after these guys for fraud and usury.
[16:13.040 --> 16:20.080]  Yeah, so we can say these guys got us into this place because they had a license, they
[16:20.080 --> 16:26.600]  had special training, they were closely regulated by the government and that created a trust
[16:26.600 --> 16:27.600]  gap.
[16:27.600 --> 16:34.000]  I didn't feel like I had to question every little tiny item because this guy's got a
[16:34.000 --> 16:39.360]  license, the government watches him and regulates him so I can trust him.
[16:39.360 --> 16:43.000]  That's why government regulation doesn't work, obviously.
[16:43.000 --> 16:45.280]  Obviously.
[16:45.280 --> 16:52.000]  All it does is just use up our taxes, cost us money and we're the ones that end up getting
[16:52.000 --> 16:53.000]  ripped off.
[16:53.000 --> 16:59.040]  All right, we'll be right back.
[16:59.040 --> 17:03.680]  You invest, you buy insurance, you wear your seatbelt, you do things to ensure your family's
[17:03.680 --> 17:05.880]  future and protection, but why?
[17:05.880 --> 17:07.040]  Just in case?
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[17:57.960 --> 18:26.960]  All right, this is the Rule of Law.
[18:26.960 --> 18:30.840]  Randy Kelton and Deborah Stevens tonight, Eddie Craig will be joining us tomorrow night.
[18:30.840 --> 18:38.400]  We're here with Sharla and we are talking about errors in mortgages that basically,
[18:38.400 --> 18:43.360]  to me, I just don't see how some of these things can be unintentional.
[18:43.360 --> 18:49.400]  Maybe a little typo here and there or whatever, but obviously a lot of it is preconceived
[18:49.400 --> 18:54.440]  and it goes to fraud and usury, which is what Randy was describing.
[18:54.440 --> 18:58.200]  So Randy, please continue with that and then we're going to go to why some of these little
[18:58.200 --> 19:01.000]  errors are so important.
[19:01.000 --> 19:10.880]  Even if the individual truly doesn't know, well, he's licensed, he has a duty to know
[19:10.880 --> 19:17.600]  and sure he's following practices and procedures that the company put forth for him to follow.
[19:17.600 --> 19:21.720]  And if he doesn't follow those practices and procedure, he loses his job.
[19:21.720 --> 19:27.080]  And those who've listened a long time understand my position on that.
[19:27.080 --> 19:36.680]  Yeah, you can follow policy and keep your job or you can follow laws, get out of jail.
[19:36.680 --> 19:42.160]  These guys can follow policy and keep their job or they can follow the law governing their
[19:42.160 --> 19:48.960]  behavior and not wind up being sued for the harm they're doing to everybody they deal
[19:48.960 --> 19:51.040]  with.
[19:51.040 --> 19:57.160]  And granted, it may not be the individuals, it may have not have been their intent to
[19:57.160 --> 20:03.360]  harm you, but I seriously doubt that there are many folks out here who were promoting
[20:03.360 --> 20:08.800]  these loans that didn't know this was a problem, that couldn't see the writing on the wall
[20:08.800 --> 20:11.240]  that this is going to come back to haunt them.
[20:11.240 --> 20:17.200]  Paul, who called in last night, I was hoping he would call in tonight, but he worked in
[20:17.200 --> 20:22.800]  the banking industry and primarily what he did was bundle and sell notes.
[20:22.800 --> 20:26.920]  And this is how he explained how it worked.
[20:26.920 --> 20:34.040]  Wells Fargo would give them $50 million and tell them, you got to pay that back in six
[20:34.040 --> 20:35.520]  months.
[20:35.520 --> 20:42.400]  They would take that $60 million and convert it to 20 and 30 year mortgages, but they got
[20:42.400 --> 20:44.600]  to pay it back in six months.
[20:44.600 --> 20:48.040]  So they had no intention of keeping that.
[20:48.040 --> 20:52.840]  They were just the middle man who, they were the salesmen.
[20:52.840 --> 21:02.280]  They found the customer, they sold the product to the customer and Wells Fargo factored their
[21:02.280 --> 21:08.240]  time and trouble to find the customer and get the customer's signature on the bottom
[21:08.240 --> 21:10.040]  line.
[21:10.040 --> 21:12.240]  Now they get his signature.
[21:12.240 --> 21:14.840]  Now they have to have a way to pay back Wells Fargo.
[21:14.840 --> 21:21.360]  So they bundle up all these notes and according to Paul, most of them went to China.
[21:21.360 --> 21:30.200]  China buys all these notes, gives money back to these guys and they pay off Wells Fargo
[21:30.200 --> 21:35.320]  and take a cut for themselves and they go on to the next loan.
[21:35.320 --> 21:36.680]  So essentially they're out of it.
[21:36.680 --> 21:41.080]  Now as the loan pays off, it pays off the loan holder in China.
[21:41.080 --> 21:44.960]  Well, it takes them longer to get their money, but they get more money because they get the
[21:44.960 --> 21:45.960]  interest.
[21:45.960 --> 21:53.280]  So it's been working for a long time, but the problem was that this was so lucrative
[21:53.280 --> 21:59.200]  and they could pretty well get away with doing what they wanted to with the Bush administration
[21:59.200 --> 22:03.600]  especially that they started fudging.
[22:03.600 --> 22:15.040]  Yeah, we're selling AAA bonds here, but we can slide a few ringers in there and the statistical
[22:15.040 --> 22:16.360]  mean will take care of them.
[22:16.360 --> 22:20.840]  The few that don't make it will get hidden and this bubble is rising so fast.
[22:20.840 --> 22:29.240]  The guy purchases this house and he's right on the ragged edge with the numbers, but we
[22:29.240 --> 22:33.680]  know that next week or next month the value of that house is going to go up and make his
[22:33.680 --> 22:39.280]  numbers look real good, get him way in the back.
[22:39.280 --> 22:43.960]  And that worked out pretty well until a bubble began to burst, which everyone in the industry
[22:43.960 --> 22:45.960]  knew it had to.
[22:45.960 --> 22:51.280]  Once the bubble begins to burst and the value of his house starts to drop back down, then
[22:51.280 --> 22:58.280]  all of a sudden he's looking at owing what the building is worth and then it drops down
[22:58.280 --> 22:59.280]  some more.
[22:59.280 --> 23:05.240]  Now he owes more on the building than it's worth, than he could sell it for.
[23:05.240 --> 23:09.640]  It's not in his best financial interest to pay for it.
[23:09.640 --> 23:13.560]  And Charlie mentioned people getting their houses repossessed when they weren't even
[23:13.560 --> 23:14.560]  behind.
[23:14.560 --> 23:22.560]  Well, if you have a $200,000 loan against a house and you have the houses and the mortgage
[23:22.560 --> 23:28.600]  company has the houses collateral and the house is only worth $150,000, they're going
[23:28.600 --> 23:33.000]  to return that house over before it drops even more.
[23:33.000 --> 23:37.400]  So they're going to tell you, you're 50 grand behind in equity, you need to come up with
[23:37.400 --> 23:43.920]  that 50 grand to get your equity up where we can maintain the loan.
[23:43.920 --> 23:49.760]  This is the problems they have created and even if they don't do that to them, as the
[23:49.760 --> 23:55.840]  economy starts to turn down when they sold a house to this guy and he barely could make
[23:55.840 --> 24:01.560]  it when times were good, when times start to get bad, they know he's going to crash
[24:01.560 --> 24:02.560]  and burn.
[24:02.560 --> 24:06.080]  But the guy who wrote the note, he don't care.
[24:06.080 --> 24:09.560]  He made the note, got his commission, went on to the next one.
[24:09.560 --> 24:14.760]  The guys in China holding those notes, they're the ones that are going to care about it.
[24:14.760 --> 24:22.400]  So it has been in their interest to defraud you and defraud everyone.
[24:22.400 --> 24:26.280]  They take their money and go home.
[24:26.280 --> 24:29.260]  These are the mortgage companies we're talking about.
[24:29.260 --> 24:32.520]  So here's the problem they have.
[24:32.520 --> 24:38.880]  If they defrauded anything, if they lied to you, if they misrepresented the truth, if
[24:38.880 --> 24:44.720]  they charged you a finer fee they weren't allowed to and didn't notify you about it,
[24:44.720 --> 24:49.960]  or they charged you a finer fee they didn't notify you of in order to make it look like
[24:49.960 --> 24:55.200]  it costs less for this building and get you to get into the mortgage.
[24:55.200 --> 25:00.600]  Once you're into it, it's almost too late to back out, you've got too much invested.
[25:00.600 --> 25:08.860]  That's all fraud and any contract entered into under fraud is not a contract.
[25:08.860 --> 25:10.320]  So this is what we're looking for.
[25:10.320 --> 25:11.320]  We're looking for the frauds.
[25:11.320 --> 25:14.080]  We're not looking for the things that don't make any difference.
[25:14.080 --> 25:20.760]  A lot of things that they didn't do right but you can't show that it harmed you.
[25:20.760 --> 25:29.640]  But if it cost you more money or if they failed to disclose something and the disclosure of
[25:29.640 --> 25:37.680]  that fact could well have led you to make a different decision, that's fraud by nondisclosure.
[25:37.680 --> 25:48.560]  And under the case law, if I tell you something about an issue, I have a duty to tell you
[25:48.560 --> 25:50.360]  everything.
[25:50.360 --> 25:54.520]  I can't tell you only the part I want you to hear.
[25:54.520 --> 26:02.880]  So if I reveal part of an issue, I'm bound under the fraud statutes to reveal all because
[26:02.880 --> 26:09.120]  I create a trust and especially with these guys who are licensed, they create a trust.
[26:09.120 --> 26:14.000]  And we had good cause to trust them, cause the government licensed them.
[26:14.000 --> 26:18.120]  They had to learn what they were doing and they were subject to have their license removed
[26:18.120 --> 26:19.400]  if they did anything wrong.
[26:19.400 --> 26:25.920]  So we had a reason to trust them and they betrayed that trust.
[26:25.920 --> 26:34.280]  And we have people out here that are losing everything they've got and something else.
[26:34.280 --> 26:42.280]  It seems as though from the way the court decisions are beginning to flow, that it may
[26:42.280 --> 26:49.920]  well be that the Obama administration has decided to throw the mortgage companies to
[26:49.920 --> 26:56.400]  the wolves and where are the wolves?
[26:56.400 --> 26:57.680]  But in this case, it's appropriate.
[26:57.680 --> 27:01.920]  So this is why we should be doing this.
[27:01.920 --> 27:06.560]  And I was looking at a mortgage the other day with Charla and she mentioned some of
[27:06.560 --> 27:13.000]  the, there were charges in there that they weren't allowed to charge the customer.
[27:13.000 --> 27:15.200]  Can you address that Charla?
[27:15.200 --> 27:22.760]  Yes, there's, depending on what type of loan, if it's a VA loan, a FHA loan, a conventional
[27:22.760 --> 27:32.000]  loan, there's certain charges that are allowable to be charged to the borrower and to the seller.
[27:32.000 --> 27:38.160]  I mean, for example, the seller is required to pay for the title policy, which is actually
[27:38.160 --> 27:44.720]  the instrument used as the conveyance of title and that there is a clear title.
[27:44.720 --> 27:52.120]  And in this one that I was looking at, there were charges to the borrower for some title
[27:52.120 --> 27:59.080]  insurance charges and some other seller-specific fees that the borrower is not required to
[27:59.080 --> 28:00.080]  pay.
[28:00.080 --> 28:07.920]  And some of those fees actually, on the borrower side, will affect the annual percentage rate,
[28:07.920 --> 28:12.920]  which goes back again to another violation in the truth in lending.
[28:12.920 --> 28:20.520]  So those are just, I mean, you know, again and again you see some of the same violations
[28:20.520 --> 28:24.480]  as far as the disclosures, but I wanted to address just for a minute something that Randy
[28:24.480 --> 28:27.520]  said regarding values.
[28:27.520 --> 28:34.720]  Every appraisal that is done, a market analysis that is done for a mortgage loan, it is also
[28:34.720 --> 28:41.920]  required to meet some certain specifications to establish a value, a market value.
[28:41.920 --> 28:51.360]  And there are certain percentages that the appraiser cannot go over for adjustments to
[28:51.360 --> 28:55.400]  increase the property value and to bring it up to market.
[28:55.400 --> 29:02.720]  So, you know, and that goes back to the underwriting, the education of the loan officer for their
[29:02.720 --> 29:09.120]  underwriting abilities, because if an appraisal comes back and does not meet all those qualifications,
[29:09.120 --> 29:17.120]  then, you know, the borrower should know that, because maybe the sales price is too high,
[29:17.120 --> 29:18.720]  you know.
[29:18.720 --> 29:27.040]  Maybe there's some reason that the property adjustments exceed the legal limits, you know.
[29:27.040 --> 29:34.120]  So there's all kinds of things to look at with a fine-toothed comb.
[29:34.120 --> 29:35.120]  I hear the music, so...
[29:35.120 --> 29:39.720]  Yes, we're going to break, we're going to talk about this some more on the other side.
[29:39.720 --> 29:43.280]  We also have a caller, Mike from Texas, will be getting to you as well.
[29:43.280 --> 29:48.360]  This is the rule of law on rule of law radio, Randy Kelton and Deborah Stevens, along with
[29:48.360 --> 29:50.600]  Eddie Craig on Mondays and Fridays nights.
[29:50.600 --> 29:58.840]  We're here with Sharla, talking about mortgage fraud, we'll be right back.
[29:58.840 --> 30:02.840]  Old prices are at historic highs, and with the recent pullback, this is a great time
[30:02.840 --> 30:03.840]  to buy.
[30:03.840 --> 30:08.360]  With the value of the dollar, risks of inflation, geopolitical uncertainties, and instability
[30:08.360 --> 30:12.000]  in world financial systems, I see gold going up much higher.
[30:12.000 --> 30:15.480]  Hi, I'm Tim Fry at Roberts and Roberts Brokerage.
[30:15.480 --> 30:19.000]  Everybody should have some of their assets in investment-grade precious metals.
[30:19.000 --> 30:22.920]  At Roberts and Roberts Brokerage, you can buy gold, silver, and platinum with confidence
[30:22.920 --> 30:27.940]  from a brokerage that's specialized in the precious metals market since 1977.
[30:27.940 --> 30:31.680]  If you are new to precious metals, we will happily provide you with the information you
[30:31.680 --> 30:36.080]  need to make an informed decision whether or not you choose to purchase from us.
[30:36.080 --> 30:40.440]  Also, Roberts and Roberts Brokerage values your privacy and will always advise you in
[30:40.440 --> 30:43.840]  the event that we would be required to report any transaction.
[30:43.840 --> 30:47.960]  If you have gold, silver, or platinum you'd like to sell, we can convert it for immediate
[30:47.960 --> 30:48.960]  payment.
[30:48.960 --> 30:52.720]  Call us at 800-874-9760.
[30:52.720 --> 31:20.640]  Here are Roberts and Roberts Brokerage, 800-874-9760.
[31:20.640 --> 31:23.320]  We are back, this is the rule of law.
[31:23.320 --> 31:28.400]  We are here with our guest, Sharla, talking about the mortgage fraud issues.
[31:28.400 --> 31:32.120]  So, Sharla, please continue where you were before we went to the break.
[31:32.120 --> 31:37.480]  Okay, well, I had just said something about the appraisal guidelines and to establish
[31:37.480 --> 31:46.600]  the value, and I also wanted to bring something else up, is after the loan has been closed
[31:46.600 --> 31:54.120]  and let's say that they've been paying on it, the lender or the service provider, okay,
[31:54.120 --> 32:00.960]  which that's actually what they call escrow disclosure notices and analysis, your annual
[32:00.960 --> 32:07.640]  escrow analysis will come from, those are actually have specifications written in the
[32:07.640 --> 32:08.640]  law.
[32:08.640 --> 32:12.880]  So, you know, even if you've gone through the application process and through the purchasing
[32:12.880 --> 32:19.760]  and closing process, you can still have some violations on your escrow account through
[32:19.760 --> 32:20.760]  service providers.
[32:20.760 --> 32:29.000]  So, there's all kinds of, every book, you know, and just because the loan has been closed
[32:29.000 --> 32:36.760]  doesn't mean that you should stop looking, because service providers do not always handle
[32:36.760 --> 32:43.160]  the escrow accounts what they're required to within the law.
[32:43.160 --> 32:45.680]  Randy, did you have anything else or?
[32:45.680 --> 32:50.240]  Yeah, well, there were some other issues.
[32:50.240 --> 32:58.280]  You mentioned an issue about a insurance, about a flood insurance for a place that was
[32:58.280 --> 33:03.960]  questionable about whether it was in a floodplain or not.
[33:03.960 --> 33:12.280]  Yes, one I looked at recently, just ago, there was a document in there that said that flood
[33:12.280 --> 33:13.280]  insurance was required.
[33:13.280 --> 33:19.560]  There was a document in there that said flood insurance was not required and the survey
[33:19.560 --> 33:28.000]  that was five years old at the time of the purchase said that the property was not in
[33:28.000 --> 33:29.760]  a flood zone.
[33:29.760 --> 33:35.120]  Now, why the lender decided to get both documents?
[33:35.120 --> 33:38.880]  Maybe they just wanted to be sure that they covered themselves, whether flood insurance
[33:38.880 --> 33:41.000]  was or was not required.
[33:41.000 --> 33:47.400]  I'm working with the borrower on that because I don't have a copy of what we call the declaration
[33:47.400 --> 33:52.480]  page of his insurance policy to see if he actually purchased flood insurance, but if
[33:52.480 --> 34:00.880]  he did, that he were charged because the lender obviously didn't look at the service to verify
[34:00.880 --> 34:08.440]  that flood insurance was not needed and then here the buyer has purchased flood insurance,
[34:08.440 --> 34:16.200]  which it is not cheap and so there's a violation right there, which is not the only one within
[34:16.200 --> 34:17.200]  that one file.
[34:17.200 --> 34:23.680]  So it can be just very simple things.
[34:23.680 --> 34:30.240]  Your homeowner's insurance, the amount of insurance that they tell you is required.
[34:30.240 --> 34:35.400]  You know, if your insurance is, you have not gotten insurance enough to cover the loan
[34:35.400 --> 34:43.680]  balance, you know, you're not required to get a certain amount over the loan balance
[34:43.680 --> 34:51.680]  and how they ascertain what to collect at closing, the date of your closing.
[34:51.680 --> 34:59.720]  They can collect too much at closing for your insurance escrow, also for your taxes and
[34:59.720 --> 35:08.040]  also for some of these HOAs, they will over collect as to what is required and when you
[35:08.040 --> 35:13.360]  look through the documentation and you read them, you can see all the discrepancies when
[35:13.360 --> 35:16.920]  you start picking everything up.
[35:16.920 --> 35:29.680]  So do you have any kind of estimate over the life of a loan of how much fraud cost of the
[35:29.680 --> 35:30.680]  borrower?
[35:30.680 --> 35:31.680]  Just a while.
[35:31.680 --> 35:32.680]  Absolutely.
[35:32.680 --> 35:33.680]  Oh, gee.
[35:33.680 --> 35:43.160]  You know, I don't even, no I don't.
[35:43.160 --> 35:54.040]  Because, you know, I mean it can probably be as little as $100 that go all the way up
[35:54.040 --> 35:58.880]  to, you know, $5,000 or $8,000 or even more.
[35:58.880 --> 36:03.280]  Now, that's not over the life of a loan.
[36:03.280 --> 36:09.240]  Obviously, if you're talking about a 30-year mortgage and you're actually paying an incorrect
[36:09.240 --> 36:15.480]  interest rate because they set the loan up incorrectly, you know, in their so-called
[36:15.480 --> 36:20.880]  payment structure system, I mean, you know, when you're looking at paying a total interest
[36:20.880 --> 36:25.840]  amount of $100,000, well, that can add up very quickly.
[36:25.840 --> 36:38.440]  I was looking at one and where the quoted interest rate was 6.0 and isn't there some
[36:38.440 --> 36:49.480]  leeway in there where they don't exactly charge you precisely that 6.0 because it seemed like
[36:49.480 --> 36:55.280]  what I got from this one, they were allowed to charge up to 6.5 something but in fact,
[36:55.280 --> 36:56.840]  they were charging 6.9.
[36:56.840 --> 37:03.040]  Well, there is and a lot of people are confused because you will actually have a note rate
[37:03.040 --> 37:09.960]  of, let's say, 6% and that is the interest rate that goes to you on your note.
[37:09.960 --> 37:14.200]  But then you start looking at your truth in lending disclosure documents that they give
[37:14.200 --> 37:22.400]  you at closing which actually puts into dollar and cents the interest rate that you're paying
[37:22.400 --> 37:29.280]  over that 30-year mortgage, you know, so let's say, for example, that your note rate is 6%
[37:29.280 --> 37:38.040]  on your truth in lending, it may actually show 6.53% as an annual percentage rate.
[37:38.040 --> 37:43.480]  But what they've done is they've taken all of the things that you're paying at closing,
[37:43.480 --> 37:53.760]  okay, and disclosed those to you in the form of an interest rate which is required that
[37:53.760 --> 37:59.560]  the interest rate that they disclose has to be calculated within accuracy of one-eighth
[37:59.560 --> 38:06.000]  of 1% so, you know, and sometimes they'll make a typographical error on the truth in
[38:06.000 --> 38:08.200]  lending and then they'll correct it.
[38:08.200 --> 38:14.480]  Have you ever seen a typographical error that costs the lender?
[38:14.480 --> 38:15.480]  No.
[38:15.480 --> 38:18.000]  Odd how that happens.
[38:18.000 --> 38:19.000]  Very.
[38:19.000 --> 38:23.840]  And in this one it was 6.9 something.
[38:23.840 --> 38:24.840]  Right.
[38:24.840 --> 38:35.960]  So we're looking at approximately 0.4%, let's estimate, say, on a $150,000 loan over 20
[38:35.960 --> 38:41.320]  years, we're looking at a lot of money.
[38:41.320 --> 38:42.800]  That's exactly right.
[38:42.800 --> 38:53.080]  And the interesting thing is what my years of doing this has told me, if they make a
[38:53.080 --> 39:00.200]  mistake there, there are other mistakes within the file so that actually the monetary damages
[39:00.200 --> 39:05.960]  are going to be more than what you just said because of the other violations.
[39:05.960 --> 39:10.080]  You carry that over the life of a loan.
[39:10.080 --> 39:13.160]  We're looking at a lot of money here.
[39:13.160 --> 39:27.760]  I just did a quick calculation, $150,000 home, that's $600 a year, interest on the $150,000.
[39:27.760 --> 39:36.560]  So that $600 you could have put against the note but since you didn't, you're paying interest
[39:36.560 --> 39:44.320]  on $600 that, get money that you gave them that should have come off the end of the note.
[39:44.320 --> 39:53.520]  That's going to compound out more than just $600 a year times 20, that's $12,000.
[39:53.520 --> 40:01.480]  Is that right, $600, yes, $12,000 over the life if it was just $600.
[40:01.480 --> 40:02.480]  Exactly.
[40:02.480 --> 40:07.600]  But then all the interest you paid, these people who have already paid off their mortgages
[40:07.600 --> 40:15.080]  and are living on a fixed income, what do you suppose they would find if they went back
[40:15.080 --> 40:16.800]  through their notes?
[40:16.800 --> 40:22.280]  Well, I would highly suspect that they would find a lot of the same thing that we're finding
[40:22.280 --> 40:24.960]  in other mortgages that are currently in repayment.
[40:24.960 --> 40:29.680]  I mean, I don't have any reason to believe otherwise but here's the other interesting
[40:29.680 --> 40:35.840]  thing to what you just said, you know, all lenders and mortgages are subject to audits
[40:35.840 --> 40:41.040]  from their government, you know, hierarchy.
[40:41.040 --> 40:49.600]  I cannot imagine as a widespread rule that in the course of an audit if there is an error
[40:49.600 --> 40:55.680]  found that there's ever a redisclosure to the borrower or a refund for monies that they
[40:55.680 --> 41:03.680]  may have happened to overpay, I mean, I have never heard of anything like that, but I guess
[41:03.680 --> 41:04.680]  it is.
[41:04.680 --> 41:05.680]  That is interesting.
[41:05.680 --> 41:06.680]  Yes.
[41:06.680 --> 41:11.440]  So, you've never heard of any institution saying, hey, sorry, Bubba, we charge you too
[41:11.440 --> 41:14.720]  much money, here's you a Christmas present.
[41:14.720 --> 41:16.280]  No.
[41:16.280 --> 41:23.000]  Is there any requirement if a bank or a lending institution discovers that it's overcharged
[41:23.000 --> 41:27.440]  a client to reimburse that?
[41:27.440 --> 41:30.040]  Well, sure there is.
[41:30.040 --> 41:36.120]  I mean, if it's a requirement to disclose it with all accuracy at the very beginning,
[41:36.120 --> 41:41.600]  that requirement never changes just because I'm eight years into a 30-year mortgage.
[41:41.600 --> 41:44.760]  So, I know it would go to fraud if they didn't.
[41:44.760 --> 41:56.960]  I was just wondering if there was a specific statutory requirement beyond the fair dealing.
[41:56.960 --> 41:57.960]  And you'll have to excuse me.
[41:57.960 --> 42:01.520]  I mean, I don't know, you know...
[42:01.520 --> 42:04.160]  Yes, this is the part that I'm going to be doing.
[42:04.160 --> 42:05.160]  All right.
[42:05.160 --> 42:06.160]  Thank you.
[42:06.160 --> 42:11.800]  Once we get these forensic analysis done, I'm going to be looking at them and we're
[42:11.800 --> 42:20.040]  looking at putting together a set of programs that we can feed the numbers into and it'll
[42:20.040 --> 42:24.520]  project the numbers across the life of the loan.
[42:24.520 --> 42:32.760]  Because if you made a 30-year loan, then whatever improper fines or fees are, it is the intent
[42:32.760 --> 42:40.560]  of the borrower, I'm sorry, the lender, that those fees be a part of the entire life of
[42:40.560 --> 42:41.560]  the loan.
[42:41.560 --> 42:47.680]  And then we can project the fraud out to the end and then we come back and sue the lender
[42:47.680 --> 42:48.680]  for fraud.
[42:48.680 --> 42:49.680]  Right.
[42:49.680 --> 42:50.680]  And I would even...
[42:50.680 --> 42:51.680]  Go ahead.
[42:51.680 --> 43:04.320]  And what happens to the loan, to the contract when the contract comes up fraud, it goes
[43:04.320 --> 43:05.320]  away.
[43:05.320 --> 43:07.600]  And here's what's happened.
[43:07.600 --> 43:14.600]  The bank or the lending institution has purchased the house and then transferred the house into
[43:14.600 --> 43:19.160]  your name and they kept a lien against the house.
[43:19.160 --> 43:26.640]  Well, if the contract turns out to be fraud, then they have no contract on which to base
[43:26.640 --> 43:28.800]  the lien.
[43:28.800 --> 43:34.560]  So we could well wind up making the loan go away.
[43:34.560 --> 43:37.240]  This is awesome.
[43:37.240 --> 43:39.440]  Let me get back all the money that you paid and more.
[43:39.440 --> 43:42.120]  We'll be taking some calls right on the other side.
[43:42.120 --> 43:43.120]  Okay.
[43:43.120 --> 43:44.120]  We'll be right back.
[43:44.120 --> 43:49.560]  This is the rule of law, Randy Kelton, Deborah Stevens, Sharla, we've got Steve Skidmore,
[43:49.560 --> 43:59.280]  and Mike and Linda, we'll be right back.
[43:59.280 --> 44:05.240]  Are you looking for an investment that has no stock market risk, has a 100% track record
[44:05.240 --> 44:06.240]  of returning profits?
[44:06.240 --> 44:11.120]  Is not affected by fluctuations in oil prices and interest rates?
[44:11.120 --> 44:14.360]  Is publicly traded and SEC regulated?
[44:14.360 --> 44:18.920]  If this kind of peace of mind is what you have been looking for in an investment, then
[44:18.920 --> 44:21.760]  life settlements is the investment for you.
[44:21.760 --> 44:27.680]  Our annual rate of return has been 15.83% for the last 17 years.
[44:27.680 --> 44:31.440]  Our investments are insurance and banking commission regulated.
[44:31.440 --> 44:35.320]  Our returns are assured by the largest insurance companies.
[44:35.320 --> 44:41.360]  And qualified retirement plans such as 401Ks and IRAs are eligible for transfer.
[44:41.360 --> 44:43.360]  We charge absolutely no commissions.
[44:43.360 --> 44:47.080]  100% of your investment goes to work for you.
[44:47.080 --> 44:56.560]  Please visit sleepwellinvestment.com or call Bill Shelbur at 817-975-2431.
[44:56.560 --> 45:05.800]  Visit sleepwellinvestment.com or call 817-975-2431.
[45:05.800 --> 45:34.520]  If you did not have any problems, where are you going to look for one?
[45:34.520 --> 45:48.000]  All right, watching the sparks fly off the mortgage papers.
[45:48.000 --> 45:52.880]  Looking for a way where we can turn this into a little cash for the buyer who has gotten
[45:52.880 --> 45:55.080]  ripped off big time.
[45:55.080 --> 45:59.440]  Okay, so we've got Steve Skidmore and Linda Mike.
[45:59.440 --> 46:00.440]  We see you all there.
[46:00.440 --> 46:02.640]  We're going to bring Steve Skidmore up first.
[46:02.640 --> 46:05.760]  And then we're going to keep him on the line while we bring in other callers.
[46:05.760 --> 46:06.960]  Steve, thanks for calling in.
[46:06.960 --> 46:08.360]  What do you got for us?
[46:08.360 --> 46:09.360]  Hi, guys.
[46:09.360 --> 46:12.720]  I'd like to ask Charla.
[46:12.720 --> 46:13.720]  I paid...
[46:13.720 --> 46:18.000]  There's something that's been kind of puzzling me in my own documents.
[46:18.000 --> 46:26.480]  I paid a guy designated as trustee $150 to review the documents.
[46:26.480 --> 46:29.200]  The documents are fraudulent.
[46:29.200 --> 46:36.040]  There's all kinds of discrepancies, as I'm sure you know, in my paperwork.
[46:36.040 --> 46:47.280]  Can you define for me what the duties of the trustee are when it comes to the word review?
[46:47.280 --> 46:51.560]  What am I paying him $150 to do?
[46:51.560 --> 46:59.440]  Actually, you're just paying him $150 to get the documents ready.
[46:59.440 --> 47:00.440]  Now...
[47:00.440 --> 47:03.280]  So now he's touched them.
[47:03.280 --> 47:04.280]  That's right.
[47:04.280 --> 47:07.520]  That is exactly right.
[47:07.520 --> 47:14.680]  He's not sitting there watching the lender and he's not verifying, you know, the accuracy
[47:14.680 --> 47:17.360]  whether they're met or not.
[47:17.360 --> 47:19.480]  He's just preparing the documents.
[47:19.480 --> 47:21.520]  Now let me ask a question here.
[47:21.520 --> 47:23.360]  If the trustee is usually...
[47:23.360 --> 47:27.160]  Because the trustee is usually an attorney, does that mean we can file bar grievance against
[47:27.160 --> 47:33.080]  the attorney in this case, if it turns out that the documents have fraudulent elements?
[47:33.080 --> 47:37.960]  Randy?
[47:37.960 --> 47:45.120]  If he is preparing the documents, if they touch his hands and go through his hands,
[47:45.120 --> 47:49.680]  you betcha, you can sue him for malpractice.
[47:49.680 --> 47:55.720]  So when you sue, you can add him to the case.
[47:55.720 --> 48:01.440]  Actually you can sue him for fraud along with the rest of them because fraud stretches the
[48:01.440 --> 48:05.400]  statute of limitations.
[48:05.400 --> 48:06.600]  The fraud doesn't...
[48:06.600 --> 48:10.560]  The clock doesn't start until you discover the fraud.
[48:10.560 --> 48:15.320]  And if they went through his hands and they were fraudulent, he's touched the star baby
[48:15.320 --> 48:16.320]  big time.
[48:16.320 --> 48:21.240]  Well, because he has prepared the documents based on what the lender has provided to him.
[48:21.240 --> 48:26.800]  But what the courts have said is he can't trust what his client tells him.
[48:26.800 --> 48:34.200]  When he puts his name on the document, he verifies the veracity of the documents.
[48:34.200 --> 48:36.120]  And that's exactly what I was going to say.
[48:36.120 --> 48:42.000]  If he did not verify the accuracy of the information that he was provided with, that's his bad
[48:42.000 --> 48:43.000]  thing.
[48:43.000 --> 48:45.760]  Can I interject something here?
[48:45.760 --> 48:46.760]  Sure.
[48:46.760 --> 48:56.400]  Title 18, Part 1, Chapter 19, Section 371, Conspiracy to Commit Offense or Defraud United
[48:56.400 --> 48:58.800]  States.
[48:58.800 --> 49:03.280]  If two or more persons conspire either to commit any offense against the United States
[49:03.280 --> 49:05.280]  or to defraud the United States.
[49:05.280 --> 49:13.200]  Now keep in mind here to pseudo-government entities Fannie Mae Freddie Mac and to government
[49:13.200 --> 49:23.840]  entities FHA and HUD or any agency thereof in any manner for any purpose.
[49:23.840 --> 49:30.840]  And one or more of such persons do any act to affect the object of the conspiracy.
[49:30.840 --> 49:38.200]  Each shall be fined under this title or imprisoned not more than five years or both.
[49:38.200 --> 49:50.400]  If however the offense, the commission of which is the object of the conspiracy is a
[49:50.400 --> 49:56.960]  misdemeanor only, the punishment for such conspiracy shall not exceed the maximum punishment
[49:56.960 --> 50:00.480]  provided for this misdemeanor.
[50:00.480 --> 50:10.120]  Now we've got the trustee, we've got the substitute trustee who sells this stolen property on
[50:10.120 --> 50:19.000]  the back steps of most county courthouses, we've got the title company, we've got the
[50:19.000 --> 50:25.800]  lender themselves and we've got the party who attended the closing.
[50:25.800 --> 50:33.400]  All these people have touched this tar baby and they're stuck to it and I believe there
[50:33.400 --> 50:42.600]  are some very, very harsh penalties in 18 USC for some conspiracies depending on the
[50:42.600 --> 50:43.600]  degree thereof.
[50:43.600 --> 50:49.360]  Yes and it appears as though the government is looking for a scapegoat.
[50:49.360 --> 50:51.000]  Yes sir.
[50:51.000 --> 50:57.760]  And from the looks of the rulings that have been coming down it appears as though they're
[50:57.760 --> 51:05.000]  using these lenders and the fraud of the loans to provide a scapegoat for these economic
[51:05.000 --> 51:07.440]  problems.
[51:07.440 --> 51:13.040]  It's not our fault that we didn't do our job, it's their fault because they were dirty rotten
[51:13.040 --> 51:14.040]  criminals.
[51:14.040 --> 51:21.080]  So it's a good time to do this and it's good to do it.
[51:21.080 --> 51:26.920]  We need this not to happen to our children.
[51:26.920 --> 51:35.000]  We need brokers 20 years from now to look back on this when they're thinking about fudging
[51:35.000 --> 51:41.960]  the loan a little bit to get it pushed through and say whoa, wait a minute, this could get
[51:41.960 --> 51:43.840]  out of hand.
[51:43.840 --> 51:50.000]  We have Mike, he's been holding for forever, I'd like to bring him up and see what he's
[51:50.000 --> 51:51.000]  got on his mind.
[51:51.000 --> 51:52.000]  Mike, are you there?
[51:52.000 --> 51:53.000]  Yes, I'm here.
[51:53.000 --> 51:54.000]  How are you doing Randy?
[51:54.000 --> 51:55.000]  I'm doing good.
[51:55.000 --> 52:00.000]  You got a question or comment?
[52:00.000 --> 52:04.600]  Yes, sure do.
[52:04.600 --> 52:13.280]  I'm trying to understand the foreclosure process in Texas and I was wondering, from what I
[52:13.280 --> 52:16.960]  understand from listening to your show the other night, and I haven't looked into this
[52:16.960 --> 52:25.440]  yet, but this Texas is a non-judicial foreclosure state meaning we don't go to court, they just
[52:25.440 --> 52:29.000]  come and take the house, is that correct?
[52:29.000 --> 52:30.360]  That's correct.
[52:30.360 --> 52:32.680]  Without any court proceeding, right?
[52:32.680 --> 52:33.680]  Right.
[52:33.680 --> 52:42.000]  Okay, so and I wanted to ask you this, it's Charla, right?
[52:42.000 --> 52:43.000]  Right.
[52:43.000 --> 52:44.000]  Charla?
[52:44.000 --> 52:47.120]  Yes, that's right.
[52:47.120 --> 52:55.280]  In your experience, how many of these mortgage companies have the actual real wet signature
[52:55.280 --> 53:01.680]  documents and do you run into that a lot where they don't have them?
[53:01.680 --> 53:05.480]  Yes, a lot.
[53:05.480 --> 53:15.760]  Because my father, they're threatening foreclosure on his home and we actually sent a letter notarized
[53:15.760 --> 53:24.920]  and the whole mess and requested to examine the document and they sent us a letter back
[53:24.920 --> 53:28.560]  and they tried to make it sound like they didn't know what we were talking about.
[53:28.560 --> 53:33.960]  They sent us a copy and so I got a pretty good idea, they don't have it.
[53:33.960 --> 53:39.560]  Okay, Mike, I'm going to want to come down and I'm going to want to buy your TV from
[53:39.560 --> 53:45.160]  you for a hundred bucks and I'm going to give you a photocopy of my hundred dollar bill.
[53:45.160 --> 53:48.160]  Oh, absolutely not.
[53:48.160 --> 53:54.360]  Well that's absolute evidence that that hundred dollar bill really does exist.
[53:54.360 --> 54:01.000]  Yes, I'm sure it does or it existed at one time anyway.
[54:01.000 --> 54:06.520]  Well, and I know it does because that's the copy that I gave Randy for something he sold
[54:06.520 --> 54:07.520]  me.
[54:07.520 --> 54:20.120]  And here's the thing, the bank got the original and made the loan and then they sold it.
[54:20.120 --> 54:27.560]  Well, I suspect that the person who bought the bundle wasn't going to be satisfied with
[54:27.560 --> 54:28.560]  photocopies.
[54:28.560 --> 54:29.560]  Right.
[54:29.560 --> 54:37.080]  But most likely the wedding signature documents in China and this mortgage company is going
[54:37.080 --> 54:40.720]  to go to them and say, hey, these guys are suing the pants off of us.
[54:40.720 --> 54:43.680]  We really need that wedding signature document.
[54:43.680 --> 54:45.560]  What are these guys going to say?
[54:45.560 --> 54:47.360]  Oh, screw you.
[54:47.360 --> 54:49.360]  Yeah, that's mine.
[54:49.360 --> 54:50.360]  You ain't getting it.
[54:50.360 --> 54:58.560]  You got a problem and this seems to be their problem and we had 80 cases thrown out in
[54:58.560 --> 54:59.560]  Ohio.
[54:59.560 --> 55:00.560]  80?
[55:00.560 --> 55:01.560]  Wow.
[55:01.560 --> 55:02.560]  80.
[55:02.560 --> 55:08.480]  The judge said, same judge, all of these were with Countrywide.
[55:08.480 --> 55:17.520]  He said, do not come back into my court without the original contract, for without it you
[55:17.520 --> 55:22.440]  have no standing and that's where I was going with you.
[55:22.440 --> 55:25.920]  These guys have no standing to take any action.
[55:25.920 --> 55:28.280]  Well, what do we do in Texas?
[55:28.280 --> 55:34.080]  You file a restraining order, petition for a restraining order.
[55:34.080 --> 55:35.080]  Okay.
[55:35.080 --> 55:39.640]  You file for a petition for a restraining order, they'll almost sign that out of hand
[55:39.640 --> 55:47.960]  if it's put together correctly and then within 14, 15 days they're required to have a show
[55:47.960 --> 55:48.960]  cause hearing.
[55:48.960 --> 55:52.720]  Who do I file the restraining order with?
[55:52.720 --> 55:54.880]  Pardon me?
[55:54.880 --> 55:56.440]  Where do I file the restraining order?
[55:56.440 --> 56:00.920]  Doesn't she have to have a case, like a case pending in order to file a restraining order?
[56:00.920 --> 56:02.840]  No, this starts a case.
[56:02.840 --> 56:06.400]  You just go down to the court, the clerk can hand her the restraining order and she'll
[56:06.400 --> 56:07.400]  open a case.
[56:07.400 --> 56:08.400]  Oh, nice.
[56:08.400 --> 56:13.400]  I'm not sure what the filing fee is, but it's just not a great amount compared to Losing
[56:13.400 --> 56:14.400]  House.
[56:14.400 --> 56:15.400]  No, it won't be that.
[56:15.400 --> 56:17.080]  In Davis County it's about $220.
[56:17.080 --> 56:18.080]  Yeah.
[56:18.080 --> 56:21.840]  But compared to Losing House, that's a chump change.
[56:21.840 --> 56:30.080]  You file the restraining order and you do it with a challenge to their claim that they
[56:30.080 --> 56:31.800]  have no standing.
[56:31.800 --> 56:32.800]  Right.
[56:32.800 --> 56:37.120]  That these people are coming to take your house and you don't know who they are.
[56:37.120 --> 56:38.120]  Right.
[56:38.120 --> 56:40.520]  You may have somebody else come next week and want it again.
[56:40.520 --> 56:41.520]  Yeah.
[56:41.520 --> 56:44.320]  And what if they have the real contract?
[56:44.320 --> 56:56.880]  Now, let me ask you this, you can file into the county records the fact that you requested
[56:56.880 --> 57:03.600]  the what signature document and that nobody has claimed to the property, therefore it's
[57:03.600 --> 57:04.600]  yours.
[57:04.600 --> 57:06.600]  The best way to do that is through a...
[57:06.600 --> 57:07.600]  Go ahead, Sam.
[57:07.600 --> 57:08.600] ... through a notary public.
[57:08.600 --> 57:09.600]  Okay.
[57:09.600 --> 57:14.600]  You do that through a notary public, the power of the notary public is that the notary public
[57:14.600 --> 57:16.000]  is a court officer.
[57:16.000 --> 57:17.000]  Okay.
[57:17.000 --> 57:18.000]  Right.
[57:18.000 --> 57:22.080]  If you petition for a restraining order and that's what you need to do quickly, then you
[57:22.080 --> 57:24.000]  file it in your case.
[57:24.000 --> 57:25.000]  Right.
[57:25.000 --> 57:31.760]  In a criminal case, it's just as public as if you went and filed it specifically for the
[57:31.760 --> 57:32.760]  public record.
[57:32.760 --> 57:33.760]  Ah.
[57:33.760 --> 57:36.040]  So you don't need to do it separate.
[57:36.040 --> 57:37.040]  Right.
[57:37.040 --> 57:43.200]  It just needs to be available to the public and criminal cases and civil cases are all
[57:43.200 --> 57:45.240]  open to the public.
[57:45.240 --> 57:50.920]  So if you file it in your case, it's open to the public and when you file a restraining
[57:50.920 --> 58:01.880]  order, you'll petition for discovery, you'll demand proof that they have standing to take
[58:01.880 --> 58:05.280]  whatever action they're taking.
[58:05.280 --> 58:10.800]  And agency cannot be proven out of the mouth of the agent.
[58:10.800 --> 58:15.000]  It may only be proven out of the mouth of the principal.
[58:15.000 --> 58:20.280]  So the man holding the wedding signature note, he's the principal.
[58:20.280 --> 58:21.280]  We're about to go to break.
[58:21.280 --> 58:24.400]  Hey, old Mike, we'll be back on the other side.
[58:24.400 --> 58:25.400]  Okay.
[58:25.400 --> 58:26.400]  That was a good question.
[58:26.400 --> 58:27.400]  Yeah, that was excellent.
[58:27.400 --> 58:28.400]  Yes.
[58:28.400 --> 58:29.400]  Stay on the line, Mike.
[58:29.400 --> 58:30.400]  We'll be right back.
[58:30.400 --> 58:56.600]  We'll be right back.
[59:56.600 --> 01:00:03.600]  You are listening to the Rule of Law Radio Network at ruleoflawradio.com, live free speech
[01:00:03.600 --> 01:00:10.600]  talk radio at its best.
[01:00:33.600 --> 01:00:40.600]  I want you to listen to the Rule of Law Radio Network at ruleoflawradio.com, live free speech
[01:01:03.600 --> 01:01:10.600]  talk radio at its best.
[01:01:33.600 --> 01:01:40.600]  I want you to listen to the rule of law radio at its best.
[01:02:03.600 --> 01:02:10.600]  Okay, we are back. The Rule of Law, Randy Kelton and Debra Stevens. We're here with
[01:02:23.720 --> 01:02:30.720]  Steve Skidmore now and Sharla and we are speaking with Mike from Texas. We see Jesse from Texas.
[01:02:30.720 --> 01:02:37.720]  We see we're going to go to you next. So Mike, please continue.
[01:02:38.960 --> 01:02:45.960]  On the break we were talking about the trustee for the lender. Right. Who is the person initiating
[01:02:45.960 --> 01:02:52.960]  this action? Who is the person initiating this action? Was he the trustee when the note was signed? And if he wasn't, this would have to be a person who has an assignment from the trustee.
[01:02:52.960 --> 01:02:59.960]  Well, they have to file a substitute trustee form, I believe, in order for someone else
[01:02:59.960 --> 01:03:06.960]  other than the name trustee on the original deed of trust to be representative at the courthouse death.
[01:03:06.960 --> 01:03:13.480]  So I'm wondering, who is the person initiating the action? And what standing do they have
[01:03:13.480 --> 01:03:40.920]  to interfere with you and your property and your contract with the lender? And who is
[01:03:40.920 --> 01:03:48.920]  to lender. These are questions that you need to ask before you do anything.
[01:03:48.920 --> 01:03:54.920]  Okay, so who is the trustee?
[01:03:54.920 --> 01:03:55.920]  Are you there?
[01:03:55.920 --> 01:03:57.920]  Yeah, I'm here. Can you hear me?
[01:03:57.920 --> 01:03:59.920]  Yeah, okay, we can hear you.
[01:03:59.920 --> 01:04:08.920]  Okay. Hey, I have a couple of other questions.
[01:04:08.920 --> 01:04:18.920]  Now, if they do not have the wet signature document, does that not constitute fraud?
[01:04:18.920 --> 01:04:25.920]  Maybe. It's kind of hard to say if that would constitute fraud or not.
[01:04:25.920 --> 01:04:37.920]  If they do have a connection that they can establish, that may or may not constitute fraud.
[01:04:37.920 --> 01:04:43.920]  Where they don't have the wet signature document, but they can draw a line to it
[01:04:43.920 --> 01:04:52.920]  and show evidence that they have a right to possess it, that might avoid fraud.
[01:04:52.920 --> 01:04:59.920]  But my photocopy of the $100 bill would also do that.
[01:04:59.920 --> 01:05:03.920]  You could read the numbers on the $100 bill, but it won't do me good.
[01:05:03.920 --> 01:05:08.920]  And if I'm asked to produce it, then I must produce it in order to have standing.
[01:05:08.920 --> 01:05:09.920]  Right.
[01:05:09.920 --> 01:05:17.920]  The thing that's probably the best thing for you now is to get Charlie to do the forensic analysis.
[01:05:17.920 --> 01:05:24.920]  You know, that's what I was going to say because if they don't have the document
[01:05:24.920 --> 01:05:29.920]  and that constitutes fraud, then why not get them on several accounts of fraud if we can?
[01:05:29.920 --> 01:05:36.920]  Yeah, with the forensic analysis, you don't even need to get them for fraud on the document.
[01:05:36.920 --> 01:05:40.920]  That's one of the elements that goes into the cause.
[01:05:40.920 --> 01:05:41.920]  Right.
[01:05:41.920 --> 01:05:50.920]  But you're likely to have so many counts of fraud that odds are these guys are not going to want to go there.
[01:05:50.920 --> 01:05:52.920]  Right.
[01:05:52.920 --> 01:06:00.920]  Well, how do I contact you, Charla?
[01:06:00.920 --> 01:06:05.920]  Actually, you need to probably start with an email to Randy.
[01:06:05.920 --> 01:06:06.920]  Right, Randy?
[01:06:06.920 --> 01:06:09.920]  Yes, send an email to Randy at Rural Law Radio.
[01:06:09.920 --> 01:06:10.920]  Okay.
[01:06:10.920 --> 01:06:12.920]  And I'll forward it to Charla.
[01:06:12.920 --> 01:06:13.920]  Awesome.
[01:06:13.920 --> 01:06:14.920]  That's great.
[01:06:14.920 --> 01:06:15.920]  Let's see.
[01:06:15.920 --> 01:06:18.920]  I had something else I was going to ask you and now I can't remember.
[01:06:18.920 --> 01:06:19.920]  Thanks.
[01:06:19.920 --> 01:06:24.920]  Okay, in order to do the analysis, we're going to need all of the documents that you have.
[01:06:24.920 --> 01:06:25.920]  Okay.
[01:06:25.920 --> 01:06:31.920]  And we have a list that Charla's made up of the documents that she needs.
[01:06:31.920 --> 01:06:34.920]  As soon as I get an email, I'll send this back to you.
[01:06:34.920 --> 01:06:35.920]  Okay.
[01:06:35.920 --> 01:06:45.920]  And if you don't have those documents, then we'll either show you how to request them yourself
[01:06:45.920 --> 01:06:53.920]  or we'll get you a document that gives Charla limited power of attorney for the purpose of requesting them herself.
[01:06:53.920 --> 01:06:56.920]  Then she can ask for them, have them sent straight to her.
[01:06:56.920 --> 01:06:57.920]  Either way.
[01:06:57.920 --> 01:06:59.920]  Okay.
[01:06:59.920 --> 01:07:04.920]  But send us an email and I will get it to her and we'll get this thing rocking and rolling.
[01:07:04.920 --> 01:07:09.920]  Man, Rural Law Radio is the most awesome thing in the whole world.
[01:07:09.920 --> 01:07:10.920]  Thank you.
[01:07:10.920 --> 01:07:13.920]  Absolutely the most awesome thing in the whole world.
[01:07:13.920 --> 01:07:15.920]  I love all of you guys.
[01:07:15.920 --> 01:07:22.920]  I love this show and all the other shows and I just don't know how to thank you guys.
[01:07:22.920 --> 01:07:24.920]  Thank you, Mike.
[01:07:24.920 --> 01:07:25.920]  Throw money.
[01:07:25.920 --> 01:07:26.920]  Throw money.
[01:07:26.920 --> 01:07:27.920]  We need money.
[01:07:27.920 --> 01:07:30.920]  Think Randy's Beer Fund.
[01:07:30.920 --> 01:07:36.920]  Think the Internet bill needs to get paid so we can be on the air.
[01:07:36.920 --> 01:07:38.920]  Hey, there you go.
[01:07:38.920 --> 01:07:45.920]  I've been telling a lot of my friends to check you guys out and, you know, try to get the word out.
[01:07:45.920 --> 01:07:46.920]  Good.
[01:07:46.920 --> 01:07:47.920]  Thank you.
[01:07:47.920 --> 01:07:48.920]  Okay.
[01:07:48.920 --> 01:07:50.920]  We're going to go to Jesse in Texas.
[01:07:50.920 --> 01:07:51.920]  All right.
[01:07:51.920 --> 01:07:53.920]  Thank you, Mike.
[01:07:53.920 --> 01:07:55.920]  Jesse, you there?
[01:07:55.920 --> 01:07:56.920]  Yes.
[01:07:56.920 --> 01:07:57.920]  Hi, Randy and Deborah.
[01:07:57.920 --> 01:07:58.920]  How are you all doing?
[01:07:58.920 --> 01:07:59.920]  Charla?
[01:07:59.920 --> 01:08:00.920]  Hi, Jesse.
[01:08:00.920 --> 01:08:01.920]  Good.
[01:08:01.920 --> 01:08:03.920]  Do you have a question or comment?
[01:08:03.920 --> 01:08:04.920]  Yes.
[01:08:04.920 --> 01:08:05.920]  I was trying to find out.
[01:08:05.920 --> 01:08:08.920]  Are you still sitting there for the seminar?
[01:08:08.920 --> 01:08:09.920]  Yes, we are.
[01:08:09.920 --> 01:08:15.920]  I made the announcement on Monday night, $400 for a weekend,
[01:08:15.920 --> 01:08:22.920]  and when we get 20 prepaid participants, then we will book the date.
[01:08:22.920 --> 01:08:28.920]  And in the unlikely event that we don't get 20 people within the next,
[01:08:28.920 --> 01:08:34.920]  I'm going to say by September 1st or a month from today, we can say September 6th,
[01:08:34.920 --> 01:08:38.920]  if we don't get 20 prepaid people in 30 days by September 6th,
[01:08:38.920 --> 01:08:44.920]  then I will refund whoever prepaid their $400 minus a $25 service fee
[01:08:44.920 --> 01:08:48.920]  for all my time spent collecting checks, going back and forth to the PO Box,
[01:08:48.920 --> 01:08:51.920]  making deposits, then having to write everyone their checks back,
[01:08:51.920 --> 01:08:52.920]  all those kinds of things.
[01:08:52.920 --> 01:08:55.920]  And I would appreciate if people would just consider it a donation
[01:08:55.920 --> 01:08:57.920]  because we desperately need the money anyway.
[01:08:57.920 --> 01:08:59.920]  But most likely we will get the 20 people.
[01:08:59.920 --> 01:09:03.920]  And I'm sorry, I have not been able to make a post on the Web site yet.
[01:09:03.920 --> 01:09:05.920]  I've had to take on more hours at work.
[01:09:05.920 --> 01:09:10.920]  I'm working full-time now, mornings and nights, and dealing with the radio all night long.
[01:09:10.920 --> 01:09:14.920]  So that's why I haven't got that posted on the Web site yet.
[01:09:14.920 --> 01:09:18.920]  I should get that up probably by this weekend.
[01:09:18.920 --> 01:09:22.920]  Yes, and what are the subjects that you're going to cover on the seminar?
[01:09:22.920 --> 01:09:23.920]  We're going to do the traffic code.
[01:09:23.920 --> 01:09:28.920]  Eddie Craig is going to go over the traffic code on the first day
[01:09:28.920 --> 01:09:33.920]  and show where they break the law and point out certain causes of action
[01:09:33.920 --> 01:09:36.920]  that you can take in a lawsuit.
[01:09:36.920 --> 01:09:40.920]  And then day two, Randy and I are going to go over the Texas Criminal Procedure Code,
[01:09:40.920 --> 01:09:43.920]  parts of the penal code, and jury functioning.
[01:09:43.920 --> 01:09:46.920]  I have a presentation on jury functioning.
[01:09:46.920 --> 01:09:48.920]  And then we will finish up.
[01:09:48.920 --> 01:09:51.920]  All three of us will be discussing remedies.
[01:09:51.920 --> 01:09:58.920]  And you will also get a copy of the jurisdictionary course as part of the seminar.
[01:09:58.920 --> 01:10:03.920]  And we recommend that people prepay, you know, as soon as possible
[01:10:03.920 --> 01:10:10.920]  so that they can get their copy of jurisdictionary in plenty of time before the seminar to go over it
[01:10:10.920 --> 01:10:13.920]  because it is going to be a prerequisite for the seminar.
[01:10:13.920 --> 01:10:16.920]  I was giving an analogy to Dr. Graves.
[01:10:16.920 --> 01:10:24.920]  I used to teach calculus and differential equations to undergraduate students at UT when I was a grad student at UT.
[01:10:24.920 --> 01:10:32.920]  And what ended up happening is that I would spend half the year teaching these college kids algebra
[01:10:32.920 --> 01:10:35.920]  in order to be able to even try to do the calculus.
[01:10:35.920 --> 01:10:40.920]  And then the other half of the year, they were playing catch-up like crazy.
[01:10:40.920 --> 01:10:45.920]  And nobody could ever make more over a C or B in the course because they didn't have the prerequisite.
[01:10:45.920 --> 01:10:47.920]  And so we can't run the seminar like that.
[01:10:47.920 --> 01:10:51.920]  We can't spend most of the time answering questions that are answered in jurisdictionary.
[01:10:51.920 --> 01:10:54.920]  Those are the rudimentaries, the basics.
[01:10:54.920 --> 01:10:59.920]  Now for people who sign up at the last minute or walk in, stuff like that,
[01:10:59.920 --> 01:11:03.920]  you can go over the jurisdictionary course after the seminar
[01:11:03.920 --> 01:11:07.920]  and you'll get the top-level principles that we'll be presenting at the seminar.
[01:11:07.920 --> 01:11:09.920]  And we're limiting the seminar to 50 people.
[01:11:09.920 --> 01:11:11.920]  That's all that will fit at Bravely Books.
[01:11:11.920 --> 01:11:16.920]  So I have a feeling many people are going to be signing up.
[01:11:16.920 --> 01:11:20.920]  So sign up soon before the 50, you know, the cap.
[01:11:20.920 --> 01:11:25.920]  And we're going to be offering a discount to couples, married couples,
[01:11:25.920 --> 01:11:28.920]  because, you know, 800 bucks coming out of one household,
[01:11:28.920 --> 01:11:32.920]  especially in these economic times and people that are having trouble with finances and mortgages
[01:11:32.920 --> 01:11:34.920]  and such is going to be a lot of money to come out of one household.
[01:11:34.920 --> 01:11:40.920]  So we're offering a discount to married couples, $600 for the couple.
[01:11:40.920 --> 01:11:43.920]  And you get one copy of jurisdictionary for the couple.
[01:11:43.920 --> 01:11:46.920]  So those are the discounts we're offering for the couples.
[01:11:46.920 --> 01:11:50.920]  But we can't offer discounts for friends, okay,
[01:11:50.920 --> 01:11:53.920]  or people that, you know, one person lives in one residence
[01:11:53.920 --> 01:11:55.920]  and one person lives in another residence.
[01:11:55.920 --> 01:11:56.920]  We're not going to do that.
[01:11:56.920 --> 01:12:00.920]  We need, we desperately need the money for this at its reasonable price.
[01:12:00.920 --> 01:12:05.920]  You get jurisdictionary, which is normally $250 by itself anyway.
[01:12:05.920 --> 01:12:06.920]  It's a full two-day seminar.
[01:12:06.920 --> 01:12:11.920]  You're going to be getting a lot of remedies, civil remedies and criminal remedies,
[01:12:11.920 --> 01:12:16.920]  the traffic code, the criminal procedure code, people who have been arrested, due process,
[01:12:16.920 --> 01:12:21.920]  jury functioning, how to improve jury functioning, stuff like that.
[01:12:21.920 --> 01:12:24.920]  So it's going to be a humdinger.
[01:12:24.920 --> 01:12:29.920]  And I will, and I prefer checks because the PayPal fees are going to really add up.
[01:12:29.920 --> 01:12:32.920]  You may pay by PayPal if necessary.
[01:12:32.920 --> 01:12:38.920]  And like I said, I'll be making a post on the website probably by Saturday.
[01:12:38.920 --> 01:12:42.920]  And if people want to start sending in checks, just go ahead and send them in.
[01:12:42.920 --> 01:12:46.920]  And the payment instructions for all checks are on the website.
[01:12:46.920 --> 01:12:50.920]  Oh, can I get the payment instructions?
[01:12:50.920 --> 01:12:53.920]  Because I don't have access to the Internet.
[01:12:53.920 --> 01:12:54.920]  Okay, yes, sure.
[01:12:54.920 --> 01:13:00.920]  If you want to send a check, make the checks out to Deborah Stevens, D-E-B-O-R-A-H.
[01:13:00.920 --> 01:13:04.920]  I'm sorry, we do not have a business bank account at this time.
[01:13:04.920 --> 01:13:06.920]  All right, we will be setting one up.
[01:13:06.920 --> 01:13:11.920]  But right now, you cannot make checks out to Rule of Law Radio or Rule of Law or anything like that
[01:13:11.920 --> 01:13:19.920]  because you cannot endorse over to a personal checking account a check made out to a business entity
[01:13:19.920 --> 01:13:24.920]  or a name that's not like a human being, okay?
[01:13:24.920 --> 01:13:27.920]  I can't endorse checks over like that.
[01:13:27.920 --> 01:13:29.920]  It's always been banking rules.
[01:13:29.920 --> 01:13:30.920]  This is standard banking rules.
[01:13:30.920 --> 01:13:37.920]  They used to be more relaxed about that sort of thing, but not anymore.
[01:13:37.920 --> 01:13:38.920]  Not anymore.
[01:13:38.920 --> 01:13:39.920]  You can't do that.
[01:13:39.920 --> 01:13:45.920]  And so I haven't had the opportunity yet to go get DBAs and all these kinds of things
[01:13:45.920 --> 01:13:50.920]  and run around and pay fees for DBAs and try to get bank accounts set up and stuff like that.
[01:13:50.920 --> 01:13:52.920]  So I apologize for that, listeners.
[01:13:52.920 --> 01:13:58.920]  But just write the check made payable to me, S-T-E-V-E-N-S, my first name D-E-B-O-R-A-H,
[01:13:58.920 --> 01:14:12.920]  and send it to 1516 South Lamar, number 112, Austin, Texas, 787-04.
[01:14:12.920 --> 01:14:14.920]  Okay?
[01:14:14.920 --> 01:14:17.920]  Yes.
[01:14:17.920 --> 01:14:18.920]  All right.
[01:14:18.920 --> 01:14:20.920]  Anything else, Jesse?
[01:14:20.920 --> 01:14:32.920]  And were you guys going to be covering real estate information on future seminars or future air times?
[01:14:32.920 --> 01:14:37.920]  At this point in time, real estate stuff and mortgage stuff is not going to be covered in the seminar
[01:14:37.920 --> 01:14:40.920]  because we have so much material to present.
[01:14:40.920 --> 01:14:43.920]  Mainly this seminar is geared towards traffic.
[01:14:43.920 --> 01:14:49.920]  This is a traffic seminar for the traffic code, trying to help people get out of tickets and stuff like that.
[01:14:49.920 --> 01:14:50.920]  This is for traffic.
[01:14:50.920 --> 01:14:55.920]  And for due process, people have been arrested and railroaded through the system.
[01:14:55.920 --> 01:15:00.920]  We've got so much material to present, and he's barely going to get through the traffic code in one day.
[01:15:00.920 --> 01:15:05.920]  We're barely going to get through due process and the criminal procedure code and remedies
[01:15:05.920 --> 01:15:10.920]  and civil remedies and all these kinds of things in the second day.
[01:15:10.920 --> 01:15:14.920]  Okay, so now we can't do the mortgage and all that stuff at this point in time.
[01:15:14.920 --> 01:15:20.920]  We actually want to refer people to SHARLA to deal with mortgages.
[01:15:20.920 --> 01:15:27.920]  Yes, we don't have a seminar planned any time in the future yet for real estate,
[01:15:27.920 --> 01:15:30.920]  but we may as things develop.
[01:15:30.920 --> 01:15:34.920]  We just don't have any plans right now for it.
[01:15:34.920 --> 01:15:36.920]  Very good.
[01:15:36.920 --> 01:15:38.920]  Thank you.
[01:15:38.920 --> 01:15:42.920]  Thank you.
[01:15:42.920 --> 01:15:45.920]  And what is the seminar dates again?
[01:15:45.920 --> 01:15:52.920]  I said we are not setting a date until I have 20 prepaid participants,
[01:15:52.920 --> 01:15:57.920]  because Randy and I have been burned really bad before trying to set up seminars
[01:15:57.920 --> 01:16:01.920]  and booking dates and the venue and the whole thing,
[01:16:01.920 --> 01:16:06.920]  and we didn't get enough people to show up, and we lost our you-know-what financially,
[01:16:06.920 --> 01:16:08.920]  so we just can't do that.
[01:16:08.920 --> 01:16:11.920]  I will set the date when I have 20 prepaid participants.
[01:16:11.920 --> 01:16:14.920]  And for those who already have jurisdictionary,
[01:16:14.920 --> 01:16:17.920]  give the copy to someone that you love,
[01:16:17.920 --> 01:16:26.920]  because honestly $400 for a two-day seminar with this type of quality of information is worth it.
[01:16:26.920 --> 01:16:32.920]  I mean, we could easily charge $400 for the two-day seminar without jurisdictionary.
[01:16:32.920 --> 01:16:36.920]  So I'm sorry, we cannot offer any discounts for people who already have jurisdictionary.
[01:16:36.920 --> 01:16:38.920]  It's part of the seminar.
[01:16:38.920 --> 01:16:41.920]  Just give the copy to someone else.
[01:16:41.920 --> 01:16:46.920]  It's part of the deal that we made with Frederick Gray, so I can't change that.
[01:16:46.920 --> 01:16:47.920]  We'll be right back.
[01:16:47.920 --> 01:16:48.920]  This is the rule of law.
[01:16:48.920 --> 01:16:51.920]  Randy, you can stay on the line if you like to, Jesse.
[01:16:51.920 --> 01:16:58.920]  We'll be right back.
[01:16:58.920 --> 01:16:59.920]  You invest.
[01:16:59.920 --> 01:17:00.920]  You buy insurance.
[01:17:00.920 --> 01:17:01.920]  You wear your seatbelt.
[01:17:01.920 --> 01:17:04.920]  You do things to ensure your family's future and protection.
[01:17:04.920 --> 01:17:06.920]  But why, just in case?
[01:17:06.920 --> 01:17:09.920]  In your current state of affairs, ask yourself, am I ready?
[01:17:09.920 --> 01:17:12.920]  Preparation starts at SurvivalGearSource.com.
[01:17:12.920 --> 01:17:16.920]  SurvivalGearSource.com has a huge selection of vital products, emergency survival kits,
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[01:17:26.920 --> 01:17:30.920]  If you are not prepared, the last place you want to be is standing in FEMA lines.
[01:17:30.920 --> 01:17:32.920]  Invest in your future now.
[01:17:32.920 --> 01:17:37.920]  Visit SurvivalGearSource.com or call 877-231-1925.
[01:17:37.920 --> 01:17:41.920]  That's 877-231-1925.
[01:17:41.920 --> 01:17:43.920]  SurvivalGearSource.com.
[01:17:43.920 --> 01:17:45.920]  Prepare for tomorrow now.
[01:17:45.920 --> 01:17:52.920]  When ordering from SurvivalGearSource.com, remember to use promo code RuleOfLawRadio.com.
[01:17:52.920 --> 01:18:02.920]  Again, that special promo code is RuleOfLawRadio.com.
[01:18:23.920 --> 01:18:28.920]  I was blindsided, but now I can see your plan.
[01:18:28.920 --> 01:18:33.920]  You put the fear in my pocket, took the money from my hand.
[01:18:33.920 --> 01:18:38.920]  Ain't gonna fool me with that same old trick again.
[01:18:38.920 --> 01:18:48.920]  Ain't gonna help me.
[01:18:58.920 --> 01:19:03.920]  Ain't gonna drive me with that same old sucker punch.
[01:19:03.920 --> 01:19:08.920]  I get it now, but then I must have been out of your mind.
[01:19:08.920 --> 01:19:13.920]  Back then you had room to move, but now you're feeling the run.
[01:19:13.920 --> 01:19:38.920]  Ain't gonna get me with that same old sucker punch.
[01:19:38.920 --> 01:19:43.920]  Ain't gonna please me with that same old legend song.
[01:19:43.920 --> 01:19:45.920]  You thought you were right.
[01:19:45.920 --> 01:19:48.920]  This is the Rule of Law, Randy Kelton and Deborah Stevens.
[01:19:48.920 --> 01:19:51.920]  We've got Steve Skidmore with us.
[01:19:51.920 --> 01:19:54.920]  And we've got Jesse from Texas.
[01:19:54.920 --> 01:19:58.920]  Okay, Jesse, did you have anything else for us?
[01:19:58.920 --> 01:19:59.920]  Don't forget Charla.
[01:19:59.920 --> 01:20:04.920]  And Charla, of course, our guest, our mortgage expert.
[01:20:04.920 --> 01:20:06.920]  Jesse?
[01:20:06.920 --> 01:20:10.920]  Know that that seminar sounds like a good plan, a lot of traffic information.
[01:20:10.920 --> 01:20:13.920]  Yes.
[01:20:13.920 --> 01:20:17.920]  We will show you how to wind their clocks.
[01:20:17.920 --> 01:20:18.920]  Absolutely.
[01:20:18.920 --> 01:20:28.920]  You'll also be getting a CD that has PDF files that are basically editable.
[01:20:28.920 --> 01:20:34.920]  They will have fields that you fill in your information that is pertaining to your case.
[01:20:34.920 --> 01:20:38.920]  And so that way you'll be able to print out the documents.
[01:20:38.920 --> 01:20:44.920]  They're already formatted with the margins and the styles and the typeset and the fonts and everything
[01:20:44.920 --> 01:20:48.920]  and how it's supposed to be formatted for court documents.
[01:20:48.920 --> 01:20:50.920]  So you're not gonna be getting like a Word file, you know,
[01:20:50.920 --> 01:20:54.920]  where you're gonna have to reformat everything and it's proprietary software.
[01:20:54.920 --> 01:20:59.920]  You'll be getting a PDF doc, well Adobe is proprietary anyway itself,
[01:20:59.920 --> 01:21:04.920]  but it's not freeware or shareware unfortunately, but at least the readers are free.
[01:21:04.920 --> 01:21:06.920]  And so most people have it.
[01:21:06.920 --> 01:21:10.920]  And so that way you can fill in the fields of your information.
[01:21:10.920 --> 01:21:12.920]  You'll be able to print them out and instructions for filing.
[01:21:12.920 --> 01:21:15.920]  So there's gonna be cause of action and criminal complaints
[01:21:15.920 --> 01:21:20.920]  and other information, bar grievances and such.
[01:21:20.920 --> 01:21:21.920]  Okay, Jesse?
[01:21:21.920 --> 01:21:22.920]  Yes.
[01:21:22.920 --> 01:21:23.920]  No, thank you Deborah.
[01:21:23.920 --> 01:21:24.920]  All right.
[01:21:24.920 --> 01:21:25.920]  Thank you.
[01:21:25.920 --> 01:21:26.920]  Thank you.
[01:21:26.920 --> 01:21:27.920]  Bye-bye.
[01:21:27.920 --> 01:21:32.920]  Bye.
[01:21:32.920 --> 01:21:35.920]  Okay, so Randy.
[01:21:35.920 --> 01:21:36.920]  The lines are open.
[01:21:36.920 --> 01:21:38.920]  If anybody's got any questions.
[01:21:38.920 --> 01:21:48.920]  512-646-1984 to call in and ask Sharla or Steve Skidmore or Randy or myself a question.
[01:21:48.920 --> 01:21:51.920]  Sharla, I've got a question for you.
[01:21:51.920 --> 01:21:52.920]  Okay.
[01:21:52.920 --> 01:21:56.920]  I've not been able to find any statute that supports this,
[01:21:56.920 --> 01:22:06.920]  but I have the understanding that Title 12, that is the, oh,
[01:22:06.920 --> 01:22:10.920]  I'm thinking Fair Debt Collection Practices, Hope, RESPA.
[01:22:10.920 --> 01:22:11.920]  Yes.
[01:22:11.920 --> 01:22:21.920]  The RESPA statutes don't offer a money damages settlement,
[01:22:21.920 --> 01:22:25.920]  but they are a gateway to money damages.
[01:22:25.920 --> 01:22:28.920]  Am I correct in my train of thought?
[01:22:28.920 --> 01:22:29.920]  Right.
[01:22:29.920 --> 01:22:37.920]  And also Regulation Z has some specifics about monetary damages.
[01:22:37.920 --> 01:22:41.920]  But the RESPA itself, you're correct.
[01:22:41.920 --> 01:22:45.920]  But it is a gateway, you know.
[01:22:45.920 --> 01:22:51.920]  I mean, without the gateway you can't explore or come in and try to set a precedent
[01:22:51.920 --> 01:22:58.920]  because there's not a real precedent set anywhere that I know of in this area, but it's time.
[01:22:58.920 --> 01:22:59.920]  Yes.
[01:22:59.920 --> 01:23:06.920]  So will you explain RESPA for those of us who don't know what it is?
[01:23:06.920 --> 01:23:09.920]  Well, and Steve, feel free to jump in any time.
[01:23:09.920 --> 01:23:17.920]  That's the Real Estate Settlement Procedures Act, which actually, go ahead.
[01:23:17.920 --> 01:23:19.920]  The main body of it is found in Title 12.
[01:23:19.920 --> 01:23:24.920]  I'd encourage anybody interested to get on the Internet.
[01:23:24.920 --> 01:23:33.920]  And I have found Cornell Law School to be very, very helpful in my studies of the law,
[01:23:33.920 --> 01:23:36.920]  and I encourage people to visit Cornell.
[01:23:36.920 --> 01:23:39.920]  It's a wonderful site.
[01:23:39.920 --> 01:23:46.920]  Excuse me, but go into the U.S. Code section and just browse around in Title 12.
[01:23:46.920 --> 01:23:49.920]  Title 12, let me pull it up.
[01:23:49.920 --> 01:23:58.920]  It's going to give you what a lender can and cannot do.
[01:23:58.920 --> 01:24:05.920]  It sets the parameters for the conduct of commerce between we, the people, and the banking industry.
[01:24:05.920 --> 01:24:07.920]  And there are guidelines in there.
[01:24:07.920 --> 01:24:17.920]  There are statutes that prohibit certain acts and also statutes that make certain acts requisite.
[01:24:17.920 --> 01:24:27.920]  And if the lender fails in their fiduciary duty to follow these statutes, like I say, it being a gateway to –
[01:24:27.920 --> 01:24:36.920]  Title 12 is not going to afford you any money damages, but what will are TILA violations.
[01:24:36.920 --> 01:24:44.920]  Trying to enforce an unenforceable contract.
[01:24:44.920 --> 01:24:49.920]  Cornell, let's see, U.S. Code.
[01:24:49.920 --> 01:24:52.920]  It's the gateway to your lawsuit.
[01:24:52.920 --> 01:24:53.920]  It is not your lawsuit itself.
[01:24:53.920 --> 01:25:05.920]  Now, you can bring these Title 12 violations in as complaints that the lender has violated these statutes.
[01:25:05.920 --> 01:25:07.920]  You're not going to get any money for it.
[01:25:07.920 --> 01:25:13.920]  But in the process, they're going to also violate other statutes that there are money damages for.
[01:25:13.920 --> 01:25:16.920]  For instance, the Fair Debt Collection Practices Act.
[01:25:16.920 --> 01:25:19.920]  Trying to – Title 18.
[01:25:19.920 --> 01:25:24.920]  Trying to enforce an unenforceable contract without being a holder in due course.
[01:25:24.920 --> 01:25:27.920]  That's fraud.
[01:25:27.920 --> 01:25:35.920]  And RESPA will help us primarily to establish the fraud.
[01:25:35.920 --> 01:25:43.920]  Collecting on the RESPA violations is relatively minor compared to the harm that it does to you.
[01:25:43.920 --> 01:25:50.920]  The fact that we have RESPA out there goes to a fiduciary trust.
[01:25:50.920 --> 01:26:03.920]  It gives us reason to trust the government and trust the entities who are authorized to act under the government's authority as a highly controlled industry.
[01:26:03.920 --> 01:26:09.920]  So when we deal with these people, we know they're highly controlled by the government and we trust them.
[01:26:09.920 --> 01:26:17.920]  So any of these statutes and laws controlling their behavior that they violate,
[01:26:17.920 --> 01:26:30.920]  we're sitting back here expecting that they haven't violated them and acting in trust with them so that goes to fraud, for which we get to sue them in the local court.
[01:26:30.920 --> 01:26:39.920]  And unlike public officials, these guys have no immunity of any kind.
[01:26:39.920 --> 01:26:42.920]  Does that sound reasonable?
[01:26:42.920 --> 01:26:43.920]  Very.
[01:26:43.920 --> 01:26:45.920]  It does.
[01:26:45.920 --> 01:26:57.920]  And this is kind of the point of the forensic analysis is find all the fraud we can.
[01:26:57.920 --> 01:27:06.920]  The more fraud we can find, it's not just that it goes to more money, but it goes to deliberate intent.
[01:27:06.920 --> 01:27:13.920]  A couple minor mistakes can go to just glitches and reasonable error.
[01:27:13.920 --> 01:27:21.920]  But when we find a whole stack of them and we find no errors that serves our benefit,
[01:27:21.920 --> 01:27:29.920]  but lots of errors that serves the benefit of the other side, then there's no real argument here.
[01:27:29.920 --> 01:27:37.920]  The question is not whether the fraud occurred, but only the amount.
[01:27:37.920 --> 01:27:46.920]  Right, and Steve's quite right on reading Chapter 27, you know, because it actually goes into
[01:27:46.920 --> 01:27:53.920]  and it tells you, you know, the properties, what the term federally regulated mortgage loan is.
[01:27:53.920 --> 01:27:57.920]  I mean, it can be a property that's secured by a first or a subordinate lien.
[01:27:57.920 --> 01:28:01.920]  So even if you don't have your original purchase money lien on the property,
[01:28:01.920 --> 01:28:08.920]  if you have a HELOC loan, you know, that is another area which we really haven't talked about.
[01:28:08.920 --> 01:28:16.920]  So any type lien that you have on your home that the loan documents,
[01:28:16.920 --> 01:28:22.920]  everything still needs to be analyzed because there are going to be discrepancies there.
[01:28:22.920 --> 01:28:27.920]  Yes, because we were talking about a line of credit against the house.
[01:28:27.920 --> 01:28:28.920]  Right.
[01:28:28.920 --> 01:28:33.920]  With someone that already had the house paid off and then got a line of credit against it.
[01:28:33.920 --> 01:28:40.920]  So even in those, we'll find essentially the same kinds of errors.
[01:28:40.920 --> 01:28:41.920]  Yes.
[01:28:41.920 --> 01:28:42.920]  Is that?
[01:28:42.920 --> 01:28:48.920]  Yes, and in the case specifically for a home equity line of credit or a HELOC loan,
[01:28:48.920 --> 01:28:59.920]  there is a specific Texas Constitution that addresses the additional tolerances
[01:28:59.920 --> 01:29:03.920]  that are state specific for a home equity line of credit.
[01:29:03.920 --> 01:29:06.920]  So I mean, it's not complicated.
[01:29:06.920 --> 01:29:12.920]  You just have to be aware, but that also gives another area where lender violations can occur.
[01:29:12.920 --> 01:29:17.920]  So it can really work in the favor of the borrower.
[01:29:17.920 --> 01:29:24.920]  So all of these lender violations can, if adjudicated, work in your favor.
[01:29:24.920 --> 01:29:29.920]  And this is what we're trying to do is work them in your favor.
[01:29:29.920 --> 01:29:30.920]  Right.
[01:29:30.920 --> 01:29:33.920]  Okay, coming up on break.
[01:29:33.920 --> 01:29:40.920]  Coming up on a break, folks, if you want to call in 512-646-1984 to talk to Sharla,
[01:29:40.920 --> 01:29:44.920]  Steve Skidmore, Randy Kelton, or myself, we will be right back.
[01:29:44.920 --> 01:29:57.920]  This is the Rule of Law on Rule of Law Radio.
[01:29:57.920 --> 01:30:02.920]  Gold prices are at historic highs, and with the recent pullback, this is a great time to buy.
[01:30:02.920 --> 01:30:06.920]  With the value of the dollar, risks of inflation, geopolitical uncertainties,
[01:30:06.920 --> 01:30:10.920]  and instability in rural financial systems, I see gold going up much higher.
[01:30:10.920 --> 01:30:13.920]  Hi, I'm Tim Fry at Roberts & Roberts Brokerage.
[01:30:13.920 --> 01:30:17.920]  Everybody should have some of their assets in investment-grade precious metals.
[01:30:17.920 --> 01:30:21.920]  At Roberts & Roberts Brokerage, you can buy gold, silver, and platinum with confidence
[01:30:21.920 --> 01:30:26.920]  from a brokerage that's specialized in the precious metals market since 1977.
[01:30:26.920 --> 01:30:30.920]  If you are new to precious metals, we will happily provide you with the information you need
[01:30:30.920 --> 01:30:34.920]  to make an informed decision whether or not you choose to purchase from us.
[01:30:34.920 --> 01:30:39.920]  Also, Roberts & Roberts Brokerage values your privacy and will always advise you
[01:30:39.920 --> 01:30:42.920]  in the event that we would be required to report any transaction.
[01:30:42.920 --> 01:30:47.920]  If you have gold, silver, or platinum you'd like to sell, we can convert it for immediate payment.
[01:30:47.920 --> 01:30:51.920]  Call us at 800-874-9760.
[01:30:51.920 --> 01:30:53.920]  We're Roberts & Roberts Brokerage.
[01:30:53.920 --> 01:30:58.920]  800-874-9760.
[01:30:58.920 --> 01:31:12.920]  Yeah, who you want to chip? Who you take me from? Free Tony? Who you want to chip? I'm not free Tony. You can't chip me.
[01:31:59.920 --> 01:32:05.920]  Man, you fight for me. You should tell them the freebie-dee. Constitution set us free.
[01:32:05.920 --> 01:32:10.920]  Don't let them put no chip in your body. Put no chip in your dog or cat, you see.
[01:32:10.920 --> 01:32:15.920]  Don't put no chip in your cow and go eat it. Don't put no chip in the fish and go eat it.
[01:32:15.920 --> 01:32:20.920]  All in the wheel and the shark in the sea. Put the little chip in the little beady.
[01:32:20.920 --> 01:32:24.920]  Want to put the chip in a gram for your sale. Want to put the little chip in a diamond body.
[01:32:24.920 --> 01:32:29.920]  Get me go hide in the Atlantic sea. Man did have to like me, so he got to fly me.
[01:32:29.920 --> 01:32:34.920]  Sometimes I get bad, sometimes I get angry. Two chip them news, me say cross up, you see.
[01:32:34.920 --> 01:32:38.920]  Me say chip in the morning, chip in the evening, chip in your body.
[01:32:38.920 --> 01:32:44.920]  Man don't let them come from chipweed. Put no chip in the little beady.
[01:32:44.920 --> 01:32:48.920]  All right, this is the rule of law, Rainy Kelton, Deborah Stevens.
[01:32:48.920 --> 01:32:53.920]  We've got our guest, Sharla, and also Steve Skidmore from Endless Fraud Detection.
[01:32:53.920 --> 01:32:59.920]  Just wanted to again promote, announce, big up, shameless self-promotion
[01:32:59.920 --> 01:33:03.920]  of Steve and Neil's show, Endless Fraud Detection.
[01:33:03.920 --> 01:33:09.920]  They have been sitting in for Tom Kiley of the INN World Report on this past Tuesday
[01:33:09.920 --> 01:33:11.920]  and earlier tonight from 6 to 8.
[01:33:11.920 --> 01:33:15.920]  They will be filling in again for Tom one more time on this coming Tuesday, 6 to 8.
[01:33:15.920 --> 01:33:21.920]  And then the following week on August 20, Steve and Neil will be beginning
[01:33:21.920 --> 01:33:26.920]  their brand new show here on Rule of Law Radio Network from 10 p.m. to midnight
[01:33:26.920 --> 01:33:29.920]  on Thursdays after our Thursday night show here on Rule of Law Radio Network.
[01:33:29.920 --> 01:33:34.920]  And also I have another surprise, another surprise host coming to the network
[01:33:34.920 --> 01:33:36.920]  for Wednesday nights, 10 to midnight.
[01:33:36.920 --> 01:33:40.920]  And we'll be making that announcement probably tomorrow.
[01:33:40.920 --> 01:33:45.920]  So we're going to be filling up the 10 to midnight slots, going strong programming
[01:33:45.920 --> 01:33:50.920]  every weeknight from 6 p.m. to midnight is coming your way very soon.
[01:33:50.920 --> 01:33:53.920]  In two weeks we'll have Wednesday and Thursday sewn up.
[01:33:53.920 --> 01:33:58.920]  Okay so we're going to go back to Steve now to talk about the Fair Debt Collection
[01:33:58.920 --> 01:34:02.920]  Practices and then we've got Russell from Texas on the line so we'll go to him next.
[01:34:02.920 --> 01:34:04.920]  So go ahead Steve.
[01:34:04.920 --> 01:34:09.920]  Well the Fair Debt Collection Practices Act, once you've got, where this comes into play
[01:34:09.920 --> 01:34:15.920]  is once you, if you're not in foreclosure that is your best position to be in.
[01:34:15.920 --> 01:34:19.920]  If you're in foreclosure you've got an emergency situation, you've got to act fast.
[01:34:19.920 --> 01:34:28.920]  If you've got time to set your records and get everything set up before this little
[01:34:28.920 --> 01:34:38.920]  roller coaster ride starts, what you want to do is in making your record you want to
[01:34:38.920 --> 01:34:40.920]  bring everything to the table that you can.
[01:34:40.920 --> 01:34:45.920]  So in the Fair Debt Collection Practices Act where that comes in is the first thing
[01:34:45.920 --> 01:34:49.920]  you're going to want to do is you're going to want to see some documents from your
[01:34:49.920 --> 01:34:50.920]  mortgage company.
[01:34:50.920 --> 01:34:55.920]  You're going to want them to have to validate and verify their claim of debt.
[01:34:55.920 --> 01:34:58.920]  They have a claim, you want it validated.
[01:34:58.920 --> 01:35:02.920]  You have a lawful, legal, ethical, moral right to do so.
[01:35:02.920 --> 01:35:04.920]  You want it validated.
[01:35:04.920 --> 01:35:07.920]  They're going, it's going to seem like they're going to ignore you.
[01:35:07.920 --> 01:35:19.920]  So you make your record by filing these requests through a, oh dear.
[01:35:19.920 --> 01:35:22.920]  Freedom of information?
[01:35:22.920 --> 01:35:23.920]  No.
[01:35:23.920 --> 01:35:24.920]  This is a contract.
[01:35:24.920 --> 01:35:26.920]  The notary public.
[01:35:26.920 --> 01:35:32.920]  When you file things through the notary public there's a record already made.
[01:35:32.920 --> 01:35:37.920]  Now you've not started a case because you're just trying to get information but you want
[01:35:37.920 --> 01:35:41.920]  somebody, you want someone who's connected with the court to ask for you because when
[01:35:41.920 --> 01:35:44.920]  they don't then you can put sanctions on them.
[01:35:44.920 --> 01:35:50.920]  Now when they don't respond, let me read this.
[01:35:50.920 --> 01:35:54.920]  This is in the Fair Debt Collection Practices Act.
[01:35:54.920 --> 01:36:02.920]  This is Title 15 of the United States Code, Chapter 41, Sub-Chapter 5, Subsection 1692G
[01:36:02.920 --> 01:36:08.920]  and we'll scroll down to B, Disputed Debts.
[01:36:08.920 --> 01:36:13.920]  If a consumer notifies a debt collector, that's going to be your mortgage company because
[01:36:13.920 --> 01:36:18.920]  they're trying to collect a debt unless they've sicked some law firm who also claims to be
[01:36:18.920 --> 01:36:20.920]  a debt collector on you.
[01:36:20.920 --> 01:36:27.920]  If the consumer notifies a debt collector in writing, and here's where you're written
[01:36:27.920 --> 01:36:35.920]  stuff going through the officer of the court, within a 30-day period described in Subsection
[01:36:35.920 --> 01:36:44.920]  A of this section that the debt or any portion thereof is disputed or that the consumer requests
[01:36:44.920 --> 01:36:47.920]  the name and address of the original creditor.
[01:36:47.920 --> 01:36:54.920]  The debt collector shall cease collections of the debt or any disputed portion thereof.
[01:36:54.920 --> 01:36:56.920]  There's your cease and desist order.
[01:36:56.920 --> 01:37:04.920]  Until the debt collector obtains verification of the debt or a copy of a judgment or the
[01:37:04.920 --> 01:37:09.920]  name and address of the original creditor, depending on what information it is you ask
[01:37:09.920 --> 01:37:17.920]  of them, and a copy of such verification or judgment or name and address of the original
[01:37:17.920 --> 01:37:22.920]  creditor is mailed to the consumer by the debt collector.
[01:37:22.920 --> 01:37:28.920]  Collection activities and communications that do not otherwise violate this subchapter
[01:37:28.920 --> 01:37:38.920]  may continue during the 30-day period referred to in Subsection A unless the consumer has
[01:37:38.920 --> 01:37:45.920]  notified the debt collector in writing that the debt or any portion thereof is disputed
[01:37:45.920 --> 01:37:50.920]  or that the consumer requests the name and address of the original creditor.
[01:37:50.920 --> 01:37:57.920]  Any collection activity and communication during the 30-day period may not overshadow
[01:37:57.920 --> 01:38:08.920]  the inconsistent or be inconsistent with the disclosure of the consumer's right to dispute
[01:38:08.920 --> 01:38:12.920]  the debt or request the name and address of the original creditor.
[01:38:12.920 --> 01:38:20.920]  In other words, once you have submitted a qualified written request or if you have signed
[01:38:20.920 --> 01:38:26.920]  a power of attorney, let's say over to Charla, she can do this, she can send the mortgage
[01:38:26.920 --> 01:38:31.920]  company or the lender a qualified written request on your behalf at that point.
[01:38:31.920 --> 01:38:36.920]  Once the day that they receive that, the day that they sign for it and then they send back
[01:38:36.920 --> 01:38:47.920]  that little green copy, they're forbidden to collect or attempt to collect either the
[01:38:47.920 --> 01:38:54.920]  debt, if the amount of the debt or the debt itself is in dispute or any portion thereof
[01:38:54.920 --> 01:39:03.920]  is disputed, if you are concerned more about the escrow rate, the interest rate, then only
[01:39:03.920 --> 01:39:05.920]  those portions cannot be collected.
[01:39:05.920 --> 01:39:13.920]  They can try to collect the rest of it, but they cannot collect on what is being disputed
[01:39:13.920 --> 01:39:15.920]  until they verify it.
[01:39:15.920 --> 01:39:21.920]  It says right there, collector obtains verification of the debt.
[01:39:21.920 --> 01:39:24.920]  That's why you want it.
[01:39:24.920 --> 01:39:31.920]  So if I have reason to believe that there is fraud in the contract, then I challenge
[01:39:31.920 --> 01:39:33.920]  the entire debt.
[01:39:33.920 --> 01:39:36.920]  Absolutely, or the amount of it.
[01:39:36.920 --> 01:39:38.920]  That's great.
[01:39:38.920 --> 01:39:41.920]  Do you all want to bring up Russell now, Russell from Texas?
[01:39:41.920 --> 01:39:42.920]  Sure.
[01:39:42.920 --> 01:39:43.920]  Yes.
[01:39:43.920 --> 01:39:44.920]  Okay, let's bring up Russell.
[01:39:44.920 --> 01:39:45.920]  He's a notary.
[01:39:45.920 --> 01:39:46.920]  Russell, thanks for calling in.
[01:39:46.920 --> 01:39:47.920]  What's on your mind?
[01:39:47.920 --> 01:39:48.920]  Hey, how are you doing?
[01:39:48.920 --> 01:39:49.920]  Good.
[01:39:49.920 --> 01:39:54.920]  I just want to tell you the little thing that's involved with my mortgage.
[01:39:54.920 --> 01:40:02.920]  Kaseko Finance was my mortgage for my mobile home, but they went bankrupt in 2002.
[01:40:02.920 --> 01:40:09.920]  Then supposedly a place called Green Tree Servicing supposedly bought the assets in
[01:40:09.920 --> 01:40:11.920]  the bankruptcy court.
[01:40:11.920 --> 01:40:19.920]  But yet if you turn around and you do a check through the IRS or through whatever you want
[01:40:19.920 --> 01:40:25.920]  to check, you will find out that Green Tree Servicing and Kaseko Finance has the same
[01:40:25.920 --> 01:40:34.920]  EIN identification number, which according to the IRS website is bogus because it says
[01:40:34.920 --> 01:40:38.920]  all companies have to have their own EIN number.
[01:40:38.920 --> 01:40:44.920]  So tell me how could Kaseko Finance, who went bankrupt and all their assets sold into
[01:40:44.920 --> 01:40:50.920]  bankruptcy court, and then people stepped forward and started this Green Tree Servicing,
[01:40:50.920 --> 01:40:56.920]  and they turned around and took it over the assets supposedly, but yet they still use
[01:40:56.920 --> 01:41:01.920]  the same EIN number as Kaseko Finance.
[01:41:01.920 --> 01:41:06.920]  So they didn't close down the company.
[01:41:06.920 --> 01:41:10.920]  They just dumped all their debts.
[01:41:10.920 --> 01:41:12.920]  That sounds like fraud.
[01:41:12.920 --> 01:41:18.920]  Basically what the bankruptcy court did was make the bad paper good.
[01:41:18.920 --> 01:41:24.920]  So what they did was, and I found under four different secretarial state websites, I think
[01:41:24.920 --> 01:41:30.920]  New Mexico, Texas, I forgot the other two states, but if you look in there and do a
[01:41:30.920 --> 01:41:37.920]  trace of Green Tree Servicing, about halfway down the page it says managers and partners.
[01:41:37.920 --> 01:41:40.920]  Well, guess who's listed as a manager or partner?
[01:41:40.920 --> 01:41:43.920]  Kaseko Finance Servicing.
[01:41:43.920 --> 01:41:48.920]  Well, if they supposedly went bankrupt or defunct and no longer in business, how in
[01:41:48.920 --> 01:41:53.920]  the hell could they be a managing partner or manager or partner of anything?
[01:41:53.920 --> 01:41:55.920]  That's a good question.
[01:41:55.920 --> 01:41:59.920]  That sounds like some really good questions to bring in court.
[01:41:59.920 --> 01:42:05.920]  How would you establish standing to raise that issue?
[01:42:05.920 --> 01:42:08.920]  Well, Green Tree is the one that supposedly has my mortgage now.
[01:42:08.920 --> 01:42:10.920]  What you do is you sue them both.
[01:42:10.920 --> 01:42:15.920]  Well, how did the bankruptcy affect your mortgage?
[01:42:15.920 --> 01:42:19.920]  Well, the bankruptcy turned around, even though I've been fighting this thing for a
[01:42:19.920 --> 01:42:23.920]  long time, the bankruptcy court has turned around and said that when they bought all
[01:42:23.920 --> 01:42:29.920]  the assets from the bankruptcy court, they bought it free and clear of all liens and
[01:42:29.920 --> 01:42:31.920]  coverages or anything.
[01:42:31.920 --> 01:42:38.920]  So the bankruptcy court is telling me I cannot even challenge the mortgage now because of that.
[01:42:38.920 --> 01:42:42.920]  That definitely harms you and goes to fraud.
[01:42:42.920 --> 01:42:46.920]  So this is just a way of bypassing your fraud.
[01:42:46.920 --> 01:42:53.920]  Well, it's also, you know, all this mortgage paperwork and stuff is bogus.
[01:42:53.920 --> 01:42:58.920]  And when they went into bankruptcy court, they took this bogus paperwork and turned
[01:42:58.920 --> 01:43:04.920]  it into legitimate paperwork and then supposedly gave it to a different company.
[01:43:04.920 --> 01:43:07.920]  Which turns out to be the same company.
[01:43:07.920 --> 01:43:15.920]  In behind the scenes, what they did is they created a bankruptcy remote entity.
[01:43:15.920 --> 01:43:17.920]  I forgot what it's called now.
[01:43:17.920 --> 01:43:19.920]  But they put all their assets in there.
[01:43:19.920 --> 01:43:20.920]  Okay.
[01:43:20.920 --> 01:43:25.920]  And when they did, they turned around and made Conseco Finance and stuff, a manager
[01:43:25.920 --> 01:43:29.920]  or really a partner in the mess.
[01:43:29.920 --> 01:43:32.920]  Well, how can you be a partner if you're defunct, not a business?
[01:43:32.920 --> 01:43:37.920]  If they took over a fraudulent contract, it doesn't stop being fraud.
[01:43:37.920 --> 01:43:39.920]  Yeah, really.
[01:43:39.920 --> 01:43:40.920]  Okay.
[01:43:40.920 --> 01:43:42.920]  Well, listen, Russell, hang in there.
[01:43:42.920 --> 01:43:44.920]  We'll bring you back up on the other side.
[01:43:44.920 --> 01:43:45.920]  Okay.
[01:43:45.920 --> 01:43:46.920]  All right, excellent.
[01:43:46.920 --> 01:43:49.920]  This is the rule of law, Randy Kelton and Deborah Stevens.
[01:43:49.920 --> 01:43:53.920]  We're here with our special guest, Sharla and Steve Skidmore.
[01:43:53.920 --> 01:43:57.920]  We'll be right back.
[01:43:57.920 --> 01:44:00.920]  Stock markets are taking hit after hit.
[01:44:00.920 --> 01:44:04.920]  Corrupt bankers are choking on subprime debt.
[01:44:04.920 --> 01:44:09.920]  The Fed is busy printing dollars, dollars and more dollars to bail out Wall Street,
[01:44:09.920 --> 01:44:12.920]  banks and the U.S. car industry.
[01:44:12.920 --> 01:44:17.920]  As investors scramble for safety in the metals in the face of a further devaluation
[01:44:17.920 --> 01:44:21.920]  of the dollar, the price of silver will only increase.
[01:44:21.920 --> 01:44:25.920]  Some of the world's leading financial analysts believe that silver is one of the
[01:44:25.920 --> 01:44:30.920]  world's most important commodities with unparalleled investment opportunity
[01:44:30.920 --> 01:44:31.920]  for the future.
[01:44:31.920 --> 01:44:38.920]  Now is the time to buy silver before it heads for $75 an ounce and the yellow
[01:44:38.920 --> 01:44:43.920]  metal roars back past $1,000 an ounce to new highs.
[01:44:43.920 --> 01:44:52.920]  Call Maximus Holdings now at 407-608-5430 to find out how you can turn your IRA
[01:44:52.920 --> 01:44:58.920]  and 401K into a solid investment, silver, without any penalties for early withdrawal.
[01:44:58.920 --> 01:45:02.920]  Even if you don't have a retirement account yet, we have fantastic investment
[01:45:02.920 --> 01:45:04.920]  opportunities for you.
[01:45:04.920 --> 01:45:14.920]  Call Maximus Holdings at 407-608-5430 for more information.
[01:45:35.920 --> 01:45:40.920]  Some things in this world I will never understand.
[01:45:40.920 --> 01:45:44.920]  Some things I realize foolish.
[01:45:44.920 --> 01:45:48.920]  Somebody's on the police, a policeman.
[01:45:48.920 --> 01:45:52.920]  Somebody's on the police, a bully.
[01:45:52.920 --> 01:45:57.920]  There's always a room at the top of the hill.
[01:45:57.920 --> 01:46:02.920]  I hear things are great, mine and his lonely love too.
[01:46:02.920 --> 01:46:06.920]  They're wishing it was more than I position the bill.
[01:46:06.920 --> 01:46:10.920]  They know that if they don't do it, then I will.
[01:46:10.920 --> 01:46:14.920]  And in this world I will never understand.
[01:46:14.920 --> 01:46:18.920]  Somebody's on the police, a policeman.
[01:46:18.920 --> 01:46:22.920]  Somebody's on the police, a policeman.
[01:46:22.920 --> 01:46:26.920]  Somebody's on the police, a policeman.
[01:46:26.920 --> 01:46:29.920]  Somebody's on the police, a policeman.
[01:46:29.920 --> 01:46:32.920]  Somebody is going to bully the bully.
[01:46:32.920 --> 01:46:34.920]  You know they will.
[01:46:34.920 --> 01:46:36.920]  You know we will.
[01:46:36.920 --> 01:46:38.920]  So much injustice still.
[01:46:38.920 --> 01:46:44.920]  But Jaja never will fail to tip back the scales.
[01:46:44.920 --> 01:46:45.920]  I believe it.
[01:46:45.920 --> 01:46:46.920]  I believe in him.
[01:46:46.920 --> 01:46:48.920]  And he will tip back the scales.
[01:46:48.920 --> 01:46:51.920]  And we are instrumental in that.
[01:46:51.920 --> 01:46:53.920]  So we've got Russell from Texas.
[01:46:53.920 --> 01:46:55.920]  Okay, Russell, go ahead.
[01:46:55.920 --> 01:47:01.920]  I just got on the IRS website and I read the rules
[01:47:01.920 --> 01:47:03.920]  and everything else for EIN numbers.
[01:47:03.920 --> 01:47:05.920]  And it says in there that, you know,
[01:47:05.920 --> 01:47:10.920]  EIN number can only be given to one company or one company only.
[01:47:10.920 --> 01:47:13.920]  And if a company goes belly-up and stuff,
[01:47:13.920 --> 01:47:16.920]  that EIN number is basically gone forever.
[01:47:16.920 --> 01:47:19.920]  Another company can't turn around and step in and use it.
[01:47:19.920 --> 01:47:24.920]  But Confeco and Green Tree all use the same EIN number.
[01:47:24.920 --> 01:47:28.920]  So you can come in and maintain there was never a bankruptcy?
[01:47:28.920 --> 01:47:30.920]  I can maintain that.
[01:47:30.920 --> 01:47:33.920]  Well, I know exactly where my mortgage is.
[01:47:33.920 --> 01:47:40.920]  When Confeco did my mortgage in August, by December of 2001,
[01:47:40.920 --> 01:47:43.920]  they sold it into a trust at U.S. Bank.
[01:47:43.920 --> 01:47:47.920]  We'll call it the Confeco Manufactured Housing Trust
[01:47:47.920 --> 01:47:51.920]  pass-through certificate series 2001-4.
[01:47:51.920 --> 01:47:53.920]  Okay, that's where it's at.
[01:47:53.920 --> 01:47:56.920]  But whenever you go into bankruptcy court and everything else,
[01:47:56.920 --> 01:47:58.920]  they portray as they're the ones that has the note
[01:47:58.920 --> 01:48:01.920]  and they portray from their bankruptcy department
[01:48:01.920 --> 01:48:05.920]  that they're the holder in due course, and they're not.
[01:48:05.920 --> 01:48:11.920]  But I have not been able to get a court to agree with that at all yet.
[01:48:11.920 --> 01:48:13.920]  And the last court turned around and told me
[01:48:13.920 --> 01:48:16.920]  that I cannot challenge them because of the bankruptcy,
[01:48:16.920 --> 01:48:18.920]  the orders of the bankruptcy court,
[01:48:18.920 --> 01:48:23.920]  because they took the assets pretty clear of all leads and conferences.
[01:48:23.920 --> 01:48:31.920]  In other words, I cannot charge them with not giving me the notice of rescission.
[01:48:31.920 --> 01:48:33.920]  I cannot challenge them for anything
[01:48:33.920 --> 01:48:40.920]  because they supposedly took the assets for value and stuff.
[01:48:40.920 --> 01:48:44.920]  Well, if they're the same company,
[01:48:44.920 --> 01:48:48.920]  it would seem the judge in the bankruptcy would have known that they were the same company.
[01:48:48.920 --> 01:48:52.920]  No, no, no, not with all that fancy attorneys.
[01:48:52.920 --> 01:48:59.920]  The attorney's fees from this, this was at the time the third largest bankruptcy ever.
[01:48:59.920 --> 01:49:05.920]  The attorney's fees involving this thing was $89.4 million.
[01:49:05.920 --> 01:49:10.920]  Now, you tell me, I don't care how many attorneys on this earth,
[01:49:10.920 --> 01:49:15.920]  they could not put together that much time in a bankruptcy case.
[01:49:15.920 --> 01:49:20.920]  And to be charged, $89.4 million can get paid.
[01:49:20.920 --> 01:49:21.920]  That's pretty incredible.
[01:49:21.920 --> 01:49:26.920]  I mean, if they're bankrupt, how could they even afford that?
[01:49:26.920 --> 01:49:28.920]  The attorney's made off with everything.
[01:49:28.920 --> 01:49:29.920]  No.
[01:49:29.920 --> 01:49:33.920]  I mean, you know, it wasn't just Kinseko Finance.
[01:49:33.920 --> 01:49:36.920]  It was Kinseko, there was conglomeration of Kinseko companies,
[01:49:36.920 --> 01:49:40.920]  and they all, like four of them, went bankrupt at once.
[01:49:40.920 --> 01:49:43.920]  Kinseko Life Insurance or something was part of it.
[01:49:43.920 --> 01:49:46.920]  But the simple thing, they consolidated everything,
[01:49:46.920 --> 01:49:52.920]  and those attorneys got paid $89.4 million to handle that bankruptcy.
[01:49:52.920 --> 01:49:58.920]  And as soon as they came in there, they started what they call a bankruptcy remote,
[01:49:58.920 --> 01:50:04.920]  which is a separate entity where they put the assets in when it comes to bankruptcy court.
[01:50:04.920 --> 01:50:08.920]  Now, my question, which I feel astounding about this,
[01:50:08.920 --> 01:50:15.920]  if they had already sold my note in 2001 to USA Bank and put it in a trust,
[01:50:15.920 --> 01:50:25.920]  and it says in the 424B5 Kinseko's report at the SEC that they sold it to Kinseko Securitization,
[01:50:25.920 --> 01:50:33.920]  then Kinseko Securitization sold all right title to it to USA Bank and put it in a trust.
[01:50:33.920 --> 01:50:43.920]  How can they come in the next year and turn around and claim it's their asset if they sold it?
[01:50:43.920 --> 01:50:44.920]  That's a good question.
[01:50:44.920 --> 01:50:47.920]  That's like you selling your house last year,
[01:50:47.920 --> 01:50:54.920]  and you go into bankruptcy now and you say, well, that house over there is still mine.
[01:50:54.920 --> 01:50:57.920]  The fraud never ends, right, Steve?
[01:50:57.920 --> 01:50:58.920]  It's endless fraud.
[01:50:58.920 --> 01:51:01.920]  It's endless.
[01:51:01.920 --> 01:51:03.920]  Even in the bankruptcy court.
[01:51:03.920 --> 01:51:05.920]  Oh, yeah.
[01:51:05.920 --> 01:51:08.920]  Russ, I think I still got your email address.
[01:51:08.920 --> 01:51:13.920]  I'm going to send you a Texas law professor's law review.
[01:51:13.920 --> 01:51:20.920]  She wrote a brazen dissertation on bankruptcies and mortgages.
[01:51:20.920 --> 01:51:22.920]  What was her name?
[01:51:22.920 --> 01:51:24.920]  I think I got it.
[01:51:24.920 --> 01:51:27.920]  I'm trying to think of her name.
[01:51:27.920 --> 01:51:29.920]  I've used references out of that.
[01:51:29.920 --> 01:51:32.920]  I'm pretty sure I know what you're talking about.
[01:51:32.920 --> 01:51:34.920]  Task reporter.
[01:51:34.920 --> 01:51:35.920]  Right.
[01:51:35.920 --> 01:51:37.920]  I've got that.
[01:51:37.920 --> 01:51:38.920]  Okay.
[01:51:38.920 --> 01:51:41.920]  And I found it by searching the website.
[01:51:41.920 --> 01:51:46.920]  But I want to pass on some information and not a whole lot of people know.
[01:51:46.920 --> 01:51:50.920]  Publication 938 from the IRS.
[01:51:50.920 --> 01:51:57.920]  It's called Real Estate Mortgage Investment Conduits Reporting Information or REMIX.
[01:51:57.920 --> 01:52:02.920]  If you turn around, and like I've got the one from 2001 opened up,
[01:52:02.920 --> 01:52:10.920]  and it shows every trust and REMIX and stuff created that year in the United States.
[01:52:10.920 --> 01:52:13.920]  And this is available from the IRS.
[01:52:13.920 --> 01:52:18.920]  And I can go right to Conseco Finance and show that, you know,
[01:52:18.920 --> 01:52:20.920]  they opened up so many of these different trusts.
[01:52:20.920 --> 01:52:22.920]  The CUSIP numbers are there.
[01:52:22.920 --> 01:52:24.920]  The date the trust was opened up.
[01:52:24.920 --> 01:52:30.920]  You know, USA National Bank Association, their address, their phone number, everything.
[01:52:30.920 --> 01:52:38.920]  And you can get these things just by Googling P938 and then put the year.
[01:52:38.920 --> 01:52:45.920]  They're available all the way from 1996 up through probably this year now.
[01:52:45.920 --> 01:52:48.920]  The last one was 2008.
[01:52:48.920 --> 01:52:50.920]  What would we do with this information?
[01:52:50.920 --> 01:52:51.920]  How would it help us?
[01:52:51.920 --> 01:52:56.920]  Well, you can narrow down the trust that your mortgage was put into.
[01:52:56.920 --> 01:53:01.920]  For instance, my friend, he took out a countrywide mortgage in 1996.
[01:53:01.920 --> 01:53:06.920]  He did it on X amount of time, say July 1st.
[01:53:06.920 --> 01:53:09.920]  Well, then you start looking up under these REMIX,
[01:53:09.920 --> 01:53:18.920]  and it might show four different countrywide trusts that were created right after that date.
[01:53:18.920 --> 01:53:22.920]  And it's generally right after that date is when it's created.
[01:53:22.920 --> 01:53:26.920]  But like in Conseco's thing, they waited, what, about four months.
[01:53:26.920 --> 01:53:31.920]  They only created like four years, so they waited three to four months every time they created one.
[01:53:31.920 --> 01:53:35.920]  Where these bigger firms like Countrywide, Bank of America, everything else,
[01:53:35.920 --> 01:53:45.920]  they create things like every month they're creating another REMIX, okay, mortgage trust.
[01:53:45.920 --> 01:53:52.920]  And you can narrow it down based on when your mortgage documents are done to where that trust is,
[01:53:52.920 --> 01:53:59.920]  and then you can start trying to find out exactly where it's at by the CUSIX number and all that.
[01:53:59.920 --> 01:54:03.920]  And I don't mean this fidelity.com crap that keeps going around.
[01:54:03.920 --> 01:54:07.920]  I mean the actual CUSIX numbers.
[01:54:07.920 --> 01:54:20.920]  And so, you know, it's more of a helpful investigating tool on where your trust is that has your mortgage.
[01:54:20.920 --> 01:54:21.920]  Good.
[01:54:21.920 --> 01:54:22.920]  Thank you, Russell.
[01:54:22.920 --> 01:54:23.920]  We need to move along.
[01:54:23.920 --> 01:54:26.920]  We've got two more callers, and then we've got four minutes left.
[01:54:26.920 --> 01:54:27.920]  Okay.
[01:54:27.920 --> 01:54:27.920]  All right.
[01:54:27.920 --> 01:54:28.920]  Thanks, Russell.
[01:54:28.920 --> 01:54:29.920]  Thanks, Russell.
[01:54:29.920 --> 01:54:32.920]  We really appreciate that, this excellent information.
[01:54:32.920 --> 01:54:35.920]  Okay, we're going to go now to Mike in Texas.
[01:54:35.920 --> 01:54:36.920]  Okay, Mike.
[01:54:36.920 --> 01:54:37.920]  Thanks for calling in.
[01:54:37.920 --> 01:54:40.920]  We've got about three and a half minutes left.
[01:54:40.920 --> 01:54:42.920]  We've got two callers, so quickly.
[01:54:42.920 --> 01:54:43.920]  Okay.
[01:54:43.920 --> 01:54:47.920]  I got my place in Austin, 2001.
[01:54:47.920 --> 01:54:52.920]  The magic pens of the realtors added five grand to it.
[01:54:52.920 --> 01:54:56.920]  A year later, I get my insurance canceled for some reason,
[01:54:56.920 --> 01:55:01.920]  and the mortgage company was kind enough to let me use theirs for a month.
[01:55:01.920 --> 01:55:09.920]  And then I was looking for insurance, and I found out that this place has a blue book value
[01:55:09.920 --> 01:55:13.920]  because the people that helped me get it said,
[01:55:13.920 --> 01:55:18.920]  oh, if you say it's a manufactured home and not a mobile home, we can get you the loan.
[01:55:18.920 --> 01:55:25.920]  And then I finally get insurance, and it's like, you know, a grand a year.
[01:55:25.920 --> 01:55:29.920]  And then the tax assessor says, it's a mobile home?
[01:55:29.920 --> 01:55:32.920]  And I go, well, yeah, it's mobile home construction.
[01:55:32.920 --> 01:55:35.920]  And they lowered the value of my place.
[01:55:35.920 --> 01:55:39.920]  And then I never said that I've been stewing in a pot,
[01:55:39.920 --> 01:55:45.920]  and just horrified and yet gratified because my taxes went down.
[01:55:45.920 --> 01:55:49.920]  However, so did the value.
[01:55:49.920 --> 01:55:51.920]  So is there any fraud?
[01:55:51.920 --> 01:55:59.920]  It seems to me there's like, you know, a gallon of fraud in this deal.
[01:55:59.920 --> 01:56:08.920]  There's a gallon of fraud in most every deal, but I don't understand in your case.
[01:56:08.920 --> 01:56:10.920]  I got my first tax bill.
[01:56:10.920 --> 01:56:14.920]  After the first year, I got my first tax bill, and I bought crap in my pants.
[01:56:14.920 --> 01:56:19.920]  And I called the tax assessor, and I explained that, look, I got ripped off on this deal.
[01:56:19.920 --> 01:56:22.920]  It's really a mobile home on blocks.
[01:56:22.920 --> 01:56:25.920]  And she said, it's a mobile home?
[01:56:25.920 --> 01:56:26.920]  And I said, yeah.
[01:56:26.920 --> 01:56:29.920]  And well, they adjusted my taxes accordingly
[01:56:29.920 --> 01:56:36.920]  and lowered the value of the place by almost half of what I'm paying for it.
[01:56:36.920 --> 01:56:44.920]  And, you know, I'm way upside down here, and I feel like I'm just trapped.
[01:56:44.920 --> 01:56:47.920]  So you feel like you are in a trap.
[01:56:47.920 --> 01:56:55.920]  Encouraged to enter into a contract where your outgo is exceeding your income
[01:56:55.920 --> 01:56:58.920]  so that your upkeep is becoming your downfall?
[01:56:58.920 --> 01:57:02.920]  Yes, sir.
[01:57:02.920 --> 01:57:04.920]  That's a way to put it.
[01:57:04.920 --> 01:57:05.920]  That's nice.
[01:57:05.920 --> 01:57:06.920]  You are correct.
[01:57:06.920 --> 01:57:08.920]  So the upkeep becomes your downfall.
[01:57:08.920 --> 01:57:15.920]  You might want to look at an analysis and go back to these guys for fraud on the contract.
[01:57:15.920 --> 01:57:17.920]  You might be able to make the...
[01:57:17.920 --> 01:57:19.920]  That's where Charlotte comes in.
[01:57:19.920 --> 01:57:26.920]  I refinanced about 14, 16 months after with the same company, National City,
[01:57:26.920 --> 01:57:29.920]  and got a half percent lower.
[01:57:29.920 --> 01:57:37.920]  And the loan officer was putting me off when the interest rate actually went down to 5.75,
[01:57:37.920 --> 01:57:41.920]  and for some reason she just couldn't lock it in then.
[01:57:41.920 --> 01:57:46.920]  And then finally she could lock it in when it went back up to 6.5 from 7.
[01:57:46.920 --> 01:57:48.920]  You really need this one looked at.
[01:57:48.920 --> 01:57:50.920]  I know I do.
[01:57:50.920 --> 01:57:52.920]  Send us an email.
[01:57:52.920 --> 01:57:57.920]  I'll get it to Charlotte, and we will look at doing a forensic analysis on your...
[01:57:57.920 --> 01:58:00.920]  Mike, this is Mike that doesn't have a computer, okay?
[01:58:00.920 --> 01:58:02.920]  Mike, maybe you could get a friend...
[01:58:02.920 --> 01:58:03.920]  Wait, hold on.
[01:58:03.920 --> 01:58:04.920]  We're coming to the end of the show.
[01:58:04.920 --> 01:58:07.920]  Mike, you need to find somebody that has a computer.
[01:58:07.920 --> 01:58:11.920]  The way businesses run these days and the way we have to deal with things,
[01:58:11.920 --> 01:58:14.920]  it's very difficult to deal if there's no email.
[01:58:14.920 --> 01:58:17.920]  So maybe you could find a friend who has email
[01:58:17.920 --> 01:58:20.920]  so that we'll be able to communicate about these things.
[01:58:20.920 --> 01:58:25.920]  Okay, because my income is way down right now, and yeah, I need help.
[01:58:25.920 --> 01:58:26.920]  Yes, okay.
[01:58:26.920 --> 01:58:30.920]  So try to find a friend, please, that we can communicate with over email
[01:58:30.920 --> 01:58:35.920]  because it's much more efficient and time-wise for us.
[01:58:35.920 --> 01:58:38.920]  Talking to people on the phone all day will never get anything done.
[01:58:38.920 --> 01:58:41.920]  So we need to be able to communicate but with emails and such.
[01:58:41.920 --> 01:58:45.920]  So find a friend to help communicate with us.
[01:58:45.920 --> 01:58:47.920]  And we're coming to the end of the show.
[01:58:47.920 --> 01:58:49.920]  Doug, I'm sorry we were not able to get to your call.
[01:58:49.920 --> 01:58:52.920]  You can call in tomorrow night, and we'll bring you right up.
[01:58:52.920 --> 01:58:55.920]  This is The Rule of Law on Rule of Law Radio Network.
[01:58:55.920 --> 01:58:57.920]  We'll be back tomorrow.
[01:58:57.920 --> 01:59:05.920]  Thank you.
[01:59:27.920 --> 01:59:35.920]  Thank you.
[01:59:57.920 --> 01:59:59.920]  Thank you.