Upcoming Classes

Search CFLA's Article Archive:

The REAL Secret of the Fraud of Banks

opednews.comJuly 11, 2012

By David Snieckus

As Independence Day 2012 has come and gone six days ago I hope you give some consideration to my argument of how there is no need for mediation or modification of mortgages:

There CANNOT be any foreclosures because there never was any REAL money lent to the borrower!

There was no legal initial mortgage contract to begin with as there was:

  • No Consideration...i.e. no money....no loan: "..can only be considered a purported loan/ Has Fictitious or Illusionary Consideration; (see Montgomery vs. Daly)
  • An interest bearing Mortgage Contact can not possible be fulfilled by everyone because of usury ( Where does the interest come from if there was only one mortgage contract in the world.) therefore it is Civilly Void and Unenforceable;
  • False statements are signed by the borrower. i.e A False Document
  • Part of a Bait and Switch; The bankers and lawyers string you along into signing these false documents thinking you have a loan and are the borrower when in fact you are the creditor and have GIVEN them or they HAVE STOLEN your credit.

The contract is a wagering Provision; Both the borrower and the banker have come together with nothing ( the bankers have no money and the borrower has no home) and leave with something: . "Purported borrower" "AGREEs" to make payments"..Bank agrees to accept them. "truly gambling"but the homeowner is not aware of this "crime" and would never sign if told.

Recently, as you know, I have researched and picked apart various causes for the economic crisis we are in: the high rate of unemployment, increasing foreclosures, poverty, war, bankruptcies, resources being abused, and plutocracy. (Please check my various e-mail over the last two years.) I have concluded that our current debt-based monetary system is based on dishonesty and fraud with very little transparency. ) therefore the need for honest public banking!

Here is where the LARGER FRAUD of securitization, no assignments to the trust etc. started. I call it the DECEPTION AT CONCEPTION!

The real point I'd like to bring out is that BANKS DON'T LEND MONEY per se. They monetize the borrower's CREDIT! So there is really never ever any MONEY involved here......No one is actually harmed.....Most people hearing those statements have a bit of "cognizant dissonance." That is, the mind is repelled by the very thought! "Makes us uncomfortable". I certainly was. And it took me 7 years to figure it out.

Banks, in my opinion, are merely accounting firms and should/could be paid a fee for making the transactions...Not the ever increasing simple or compounding interest they charge now. This is usury and this legal usurious position has been used to create the criminal fraud, deception and illegalities which your office and the whole county is currently seeing as foreclosure deception on the personal level, forged documents in the court on the state level and securities fraud on the federal level!

When a homeowner borrows he or she has a credit rating. That credit rating is looked into by the bank's risk management and a decision is made. Once the application is approved, (the person will pay back the loan,) a contract is made. The person believes they sign a contract that more or less states that they are borrowing money from the bank and are obligated to pay it back; principal with interest....just as if I borrowed money from you...I would feel obligated to pay you back and perhaps even gift you some gift for your trouble or risk!

Anyway, what really happens at the contractual level is a bait and switch where the bank baits the homeowner into believing the bank is lending them money, when in fact the bank is not lending any money, but rather is extending to the homeowner THEIR MONEY or CREDIT".Why on EARTH would anyone want to pay interest on their money! We certainly have been fooled. Now, the question is: Do you believe it? I would like to know.

Let me explain the "False Document" for now...more later...if you want.

Most people who are about to become homeowners naively sign a form that usually has in some form or another these two statements:

Statement number one: I, John Doe, being registered as owner of an estate in fee simple of the following lands: (description of property).

Statement number two: In consideration of the sum of ( Principal Amount) lent to me by Bank XYZ, the receipt and sufficiency of which is hereby acknowledged do hereby covenant as follows: ( mortgage terms and conditions.)

This is a FALSE contract to begin with because these TWO sworn statements are false!

1. John Doe is not the registered owner of the state before he signs.

2. John Doe has not been lent any money before he signs.

Now you MUST ask yourself why does the lawyer(s) get John Doe to sign under oath and penalty of perjury that they are the existing registered owner, and that the bank has already paid them the named Principal amount.

Do not think this is a mere technicality!

The bank places a HUGE reliance on this "False Receipt" mortgage clause for its funding! The bank uses this seemingly pre-funded security instrument to obtain "collateralized money". That is, money backed by some home, house, building or land. The bank immediately sells this document/loan and eventually it is securitized...more on that later.

It is the promise to pay by the borrower that is the money: the signature of the borrower is a valuable "STREAM OF INCOME". The bank has extended or monetized the CREDIT of the borrower. The BORROWER has created "NEW" money in the monetary system based on their ability to pay the principal and interest. (As a side note: Other borrowers must borrow to have this be a fully executable contract, another reason why this contract is false: it is unfulfillable if everyone were to stop borrowing. More money MUST be loaned into the system for the initial borrower to pay the principal AND THE INTEREST right after the borrower signed). ((You must see that the banks never lends out the interest demanded.))

As you must know, IF a writing, as in the above typical document, is a FALSE DOCUMENT as and when nominally executed or delivered, then NO SUBSEQUENT TREATMENT can cure that defect between the parties. THIS IS CRUCIAL! Understanding this would solve all the problems you are having with the banks and with the settlement and with the foreclosures ....wouldn't it?.....

As you must know, the above document purports itself to be a pre-funded liability of the borrower, as and when issued, and which is objectively and demonstrably FALSE, as and when issued. It is in-fact an executory or unfunded-liability, purporting on its face to be an executed or pre-funded financial liability and security. It is a FORGERY in the ordinary legal sense in that it is "a document which tells a lie about itself."

I hope this is helpful!

Back to July 2012 Archive

CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

SEE BELOW- http://www.certifiedforensicloanauditors.com

Call us toll free at 888-758-2352

Bookmark and Share
Facebook Like us on Facebook
Twitter Follow us on Twitter
YouTube View our YouTube Videos
LinkedIn Connect to us on Linkedin
BBB Logo


Contact us or view our Sample Documents & Audits by completing the form below.

  • Reload
  • Should be Empty:


DVD Sets Only $99


FREE Mortgage Fraud Analysis


Order Cutting-Edge Services Now


Quiet Title Packages from Licensed Attorneys


Affiliate Services


CFLA Sponsored Attorney Links


Take-Home Education Package