TOPIC: Rescinding the Note

We'll be starting this section later next week with a video Monica and I will work on to cover the process of rescinding the note because it was never consummated which then eliminates any controversy for any court to hear. If the note is rescinded it never existed. If it never existed in fact, then nobody can lay a claim on it. If there is nobody to lay a claim, there is no controversy and the plaintiff in your foreclosure case has no standing to bring any action in court. The case must be dismissed which the Supreme Court has confirmed. Watch for announcements of the video session, later next week like weds. the 15th or Thursday.

I would like to know when you guys going to start this process and how I can layout my situation to let you guys know where I'm stand right now in my foreclosure , please let me know
Thanks

There are two types of rescission. The first is common law rescission, the second is rescission under the Truth-in-Lending-Act. The Supreme Court decision (a TILA case), entitled Countrywide v. Jesinoski, Judge Scalia stated that if, within 20 days or rescission, the "lender" fails to respond to the letter of rescission that the mortgage, note and loan are void. Rescission under TILA does not require Tender, where sometimes under common law rescission tender will be demanded.
Rescission occurs by operation of law. With that being said if you 'argue' rescission you have already lost. If you ask the court to allow you to do something that has already been done you will lose on rescission. I highly recommend the website www.livinglies.wordpress.com by Neil Garfield. Furthermore, do not assist the presumptions made by the court by referring to the transaction as a loan in your rescission letter- refer to the transaction by an account number. Proving that consummation did not occur is very difficult because the banks are able to stonewall the homeowner and exhaust their resources. In your rescission letter do NOT go into a lot of legal theory. Your letter should be something like this:

Dear Loan Servicer,
This letter serves as notice of rescission under the Truth in Lending Act. I hereby rescind the note and mortgage under account # 12345678.
Please refer to the December 2014 Scotus Jesinoski decision.
Thank you,
Joe Homeowner

I have attached a letter for your use. If you add to much information to your letter banks have a way of using that information against you. There is a good rescission decision called Paatalo (a pro-se case). This post does not constitute legal advice, and I am not an attorney.

Thanks Lost Viking! I have not been able to contact Monica for the past couple of weeks. I don't know what happened to her. She did send me some 'sample' documents that she has used and it must be understood that anyone who want to use something similar, needs to understand what they are doing and of course, modify the documents to suit their particular situation. I'll post those here in the following posts.

Notice of Dispute of Alleged Debt & Demand for Verification

This is the challenge to the claimant, who is moving the court forward on the foreclosure. They need to verify their position or they have no 'Standing' to bring any claim into court.


NOTICE OF DISPUTE AND DEMAND

The Affidavit of Non-Verification

This is just as the title indicates, your affidavit that the claim has never been verified and thus the claimant has no standing to move forward until they do!

(SAMPLE) AFFIDAVIT OF NON-VERIFICATION