Pretender lenders using their credit

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Pretender lenders using their credit

Postby Buzzbox » Thu Jan 19, 2012 2:55 pm

The origination of mortgage transactions by pretender lenders, using their credit, to conduit the initial funding, without any legal right to do so – was a real eye opener to me. Gary Jones discussed this toward the end of the telephone session last evening.

It follows then, as he pointed out, that since the pretender lender originators did this illegally they cannot legally collect interest on a loan they never made in the first place. Thus, if you’ve been paying on a mortgage loan for nine or more years you’ve likely already paid for the house in full.

If this doesn’t get the old brain cells working I don’t know what will.
G. David Hill (Dave)
Buzzbox
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