All Forum Posts by: Michael Williams

I only play when it gets to a certain point or when it gets ridiculously large like it is now. I play for fun as well and it's good for the mind to dream big. I even went as far as to write a book on what I've observed over the years and researched about lottery winners in 2015.  I was noticing that a vast majority of the winners were having extremely "Bad Luck" after winning. But was it "Bad Luck" or bad habits and environment? I learned a lot about the human condition while researching for the book. 

This is a 2 bed 1 Bath that is down to the studs. The previous owner of several properties passed away before he could finish this one. The major cleanup has already been done. Needs a complete inside rehab. Large fenced in backyard. Hardwood floors and Lawyers paneling in the entrance Foyer. One car garage that has been converted into a small bonus room 3 step down from the kitchen. 

The rent in the area range from $650 - $750. There is a large midsouth real estate company buying in the area and renting these houses very quickly. I grew up in this area and my mom still lives here. 

The area is a mix of senior citizens that own their homes, middle age people that have inherited home from their parents, and younger families that are renting. The older owners and 40-50-year-old families are serious about taking care of their areas. This is a perfect house for an investor looking for a cash flow property or a good handyman that likes to do it him/herself and move in. All working class residents. 

Memphis is becoming popular for the ability to require properties at low cost with minimal rehab, good cash flow & investment pay off in a short period of time. You can see the video at 
601 Mallory Memphis TN.

 
I didn't just read a few articles about this subject, I was a subscriber to a site that teaches the average citizen how to research the laws pertaining to the TCPA (Telephone Consumer Protection Act), what a servicing company can't and can't do as it pertains to foreclosures, The MERS system, Bifurcation,  and much more. Once you are armed with the right information you have a leg to stand on. I know it works because I was collecting rent on a foreclosed house for 5 years because of banks greed before I got lazy and made a mistake. I am speaking from experience. 

I strongly believe in paying my debts but don't blatantly lie to me and falsify documents to cover up your lies. There is plenty of documented cases of banks and mortgage companies doing this. This site provides plenty of case law and transcripts from these cases. So this information comes from research and study. 

 
You could be correct, but I will still follow up. 

 

John, this is the best response yet...I love it. LOL!
Correction: "Statutes"

 
He said that Remax made him an offer to sell it before me and he is giving them 45 days to honor his terms, which is for them to pay all closing cost and not have one cent come out of his pocket.  He said he actually owes $67k and ReMax offered him $90k and they will do the repairs. It only needs about $5k for paint landscaping & other minor repairs. No plumbing, roof, or electrical problems HE says. The community is a mixture of differently designed homes, several small farms, a couple of new subdivisions, and close to a major shopping complex. It's about 4 miles from the interstate. 

I will follow up in 40 days. 

 

Correction: NOLO law says that it's legal if the borrower is contacted. After posting a reply to your post I read up on exactly how the process of MERS, Pools, credit default swaps, and numerous other terms that have to do with the process actually work. It's plain to see that the legality of this issue is clouded in the chain of movement of mortgage AFTER assignments. I guess one could say that it was legal for a bank to bank assignment. It's a shame that the fix is in but there is nothing we can do about it.  

 


I think these are still deals even today. 

 

O.K. If you say so. It appears to be legal because of the systemof "STATUES" we are in. If I sign a contract with you and you assign that contract to someone without my consent or knowledge can that be considered fraud? 

For the sake of argument let's say that there is a clause somewhere in my contract that I didn't find to support an assignment, that still does not negate the fact that my modification paperwork was returned 3 times and a payment was returned and other banks are being sued for the same practices. If you feel this kills credibility to the rest of my statements you have that right; but for anybody that is reading this do the research and judge for yourself. 

 
Paul I must disagree with you because there are plenty of documented and reported case on how banks are misleading people. The Banking industry is the biggest problem in this country. They have been getting sued by consumers for decades for clear fraud, forgery, and flat out lying. I know that this is my post and off topic but the banking industry is predatory, you must see that. 

It may not seem that way to certain people that have big money relationships with banks and great credit and I am not mad at those people for having the knowledge, fortitude or inheritance to be in that group. I'm trying to get there as well. But when you tell me that you can help me with a modification, tell me not to send any payments for 3 months, and purposely delay the paperwork so that it can become 90 days late so the mortgage insurance can pay for the house and you sell it to a servicing company, that's predatory. This, even after I got suspicious and started sending in payments, which they sent back to make sure it went into default. This practice is what Bank Of America is being sued for now.

Millions of houses are in a POOL with millions of other houses in MERS (Mortgage Electronic Registration System) so that Wall Street Cats can get fatter, which is illegal because it separates the note from the mortgage making it an unsecured debt. - Can you say "Bifurcation"?.  

Banks are holding on to houses that are upside down so that they will not show a loss on their books. Even if those houses become dilapidated and bring down a neighborhood they hold on to them. Are these not tricks? My mortgage has clear forgeries on it but I don't have the power or clout to fight them. Every time they assign your house to another bank without your consent or signature that's fraud. 

As I have said I can't be mad at them because they are the champions of the world, I just have to adapt to their games by learning the rules. But they are the worst and most terrible parasites to our society. Yes, I said it. Why do you think private investors are the new banks. And soon the first adopters of cryptocurrency will be the new banking industry, without the lies and fraud. Remember you heard that prediction here first.