i wonder if this information could be used in a foreclosure?
The Truth in Lending Act, Regulation Z, 12 CFR §226.23, says that the security agreement signed with a lender can be rescinded if they have not provided the proper disclosures. Although home mortgages are exempt from some rescissions, this option becomes available if they foreclose and they stated the incorrect amount of the debt, or used the wrong form. The original debt was actually zero because the borrower’s financial asset was exchanged for the FED’s promissory notes in an even exchange.
The Fair Debt Collection Practices Act 15 U.S.C. §§1601, 1692, 1693, provides remedies for deceptive or unconscionable contracts and allows payment in any legal tender. The contract was deceptive and unconscionable if the actual debt was zero.
Real Estate Settlement Procedures Act 12 U.S.C. §2605, et seq. Provides remedies for deceptive communications from the lender.
UCC §2-302 provides a remedy for unconscionable contracts.
Please refer to Thomas P. Fitch, BARRON’S BUSINESS GUIDE DICTIONARY OF BANKING TERMS, "Credit banking" 3. " Bookkeeping entry representing a deposit of funds into an account."
The Truth in Lending Act, Regulation Z, 12 CFR §226.23, says that the security agreement signed with a lender can be rescinded if they have not provided the proper disclosures. Although home mortgages are exempt from some rescissions, this option becomes available if they foreclose and they stated the incorrect amount of the debt, or used the wrong form. The original debt was actually zero because the borrower’s financial asset was exchanged for the FED’s promissory notes in an even exchange.
The Fair Debt Collection Practices Act 15 U.S.C. §§1601, 1692, 1693, provides remedies for deceptive or unconscionable contracts and allows payment in any legal tender. The contract was deceptive and unconscionable if the actual debt was zero.
Real Estate Settlement Procedures Act 12 U.S.C. §2605, et seq. Provides remedies for deceptive communications from the lender.
UCC §2-302 provides a remedy for unconscionable contracts.
Please refer to Thomas P. Fitch, BARRON’S BUSINESS GUIDE DICTIONARY OF BANKING TERMS, "Credit banking" 3. " Bookkeeping entry representing a deposit of funds into an account."
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