Frequently Asked Questions About the

Debt Elimination Process

Table of Contents

What is the mortgage discharge process?

What justifies getting out of my mortgage agreement?

Is the discharge process legal?

How long does it take?

Will discharging my mortgage damage my credit rating?

Will I be able to get another loan or will the bank put me on a blacklist?

What if the process does not work?

How does the process work?

How much does the program cost?

Can I go through the process if I am behind on my mortgage payments?

Can I get refinancing at the end of the process if I have bad credit?

How long do you think this program will last before the banks change the regulations?

Will the mortgage company sue me?

If I have bank accounts with my lender, should I move that money before starting the discharge process? 

Will I be able to do business with the same bank?

What kind of properties can I use this process on?

What could keep the process from not working? 

Will this process work for private loans?

Will the bank or mortgage company be harmed by this process? 

Will the lender try to contact me?


What is the mortgage discharge process?

It is a non-judicial, administrative process developed by a team of researchers wherein the lender of funds under the terms of a Mortgage or a Deed of Trust is compelled to re-convey the deed of ownership to the borrower. The term "mortgage" is used loosely here to cover both Deeds of Trust and Mortgages. Currently, only 12 states use Mortgage agreements, the rest having moved to Deeds of Trust. Deeds of Trust involve a totally non-judicial process, while Mortgages require a judicial summary judgment, which is still an administrative process wherein no one goes to court.

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What justifies getting out of my mortgage agreement?

We all grew up believing that a loan was money at risk to the lender and that it should be repaid, so it’s difficult to accept that the banks and mortgage companies would have crafted a scheme of such monumental proportions to take advantage of that basic trust. It also explains why this scheme has been so successful. We are basically trusting people who believed that a financial institution in this country would deal honestly with us.

When you sat down at closing after the nerve-wracking run-up to this moment, you experienced it as a success, the culmination of a lot of effort to prove you were a credit-worthy client deserving of a loan to purchase a home or property, the biggest investment most of us ever make. Consequently, it was so far out of your thinking that the documents placed in front of you could be deceptive, but they were. Very deceptive. In a court of law, the judge, who understands legal language would say that full disclosure and equal protection under the law were available in the mortgage documents, but the average citizen is so ignorant of legal terminology that without really astute legal counsel at closing there is no way for him to have known what really was about to transpire. After all, think of all the attorneys who have purchased homes and signed such documents themselves without fully understanding what they meant.  

Here’s how it went:

·       First you signed a promissory note, a promise to pay principle and interest over a period of time. You expected to do this.

·       Second you signed a Deed of Trust or Mortgage agreement wherein you repeated the promise to pay under rather confusing terms that you did not understand and did not question.

·       In this agreement, you irrevocably granted and conveyed title to the property in question to the Trustee (title company) acting on behalf of the lender. How could you do this unless you owned the property, and if you did, how did you manage to acquire it?

·       You acquired it by signing the promissory note, which is legal tender in our economy. The banker turned the note into cash through the Federal Reserve and used it to pay off the previous property owner. You just funded your own loan on the power of your signature and the banker doesn’t tell you up front that you now own the property free and clear, but it clearly states in the Deed of Trust that you do, only you didn’t catch it.

·       At this point, you entered into the Deed of Trust or Mortgage agreement as sole owner of the property, bringing tremendous value to the table. After having confirmed that you were in sole possession of the property ("Borrower covenants that he is fully seized (in possession) of said property and that it is free of all encumbrances."), you immediately sign away title to the property ("Irrevocably grant and convey") to the Trustee (title company) who holds the title to secure the "loan" for the lender, except that no loan has been made because the lender did not use his money to pay off the property. He used yours.

·       An alternative scheme used in many Deed of Trust states is the tenancy agreement wherein you enter the Deed of Trust agreement as both the Tenant and the Principal (owner of the property) and agree to rent the property from yourself with the lender acting as the servicer of the loan, mandated to take payment from the Tenant (you) and disburse it to the Principal (you), except that they keep the payments. Know anyone that ever got rent payments from himself back from his mortgage company?

·       You have just signed an agreement wherein you promised to pay the lender principle and interest for a property you owned free and clear and then surrendered title to. Did you know that you did that? Of course not, or you never would have agreed to this in the first place.

·       To add insult to injury, the lender can fractionalize your note through the Federal Reserve, expanding its value up to nine times the note’s face value ($100,000 can become $900,000), tax free money he can invest or spend as he pleases. Did you give him permission to do this with your promise to pay? You thought that piece of paper was just a commitment to pay back a loan, but to the banker, your signature was worth hard, cold cash. For these reasons and others, not the least of which are the sense of personal empowerment and the surge of economic prosperity that would result from all the debt relief, we feel it is ethical and justified for homeowners to discharge these unjust mortgage agreements. 

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Is the discharge process legal?

Entirely. It involves multiple filings with the lender and government and municipal agencies to ensure the legitimacy and effectiveness of the process.

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How long does it take?

In most cases five to six months. In some states where mortgages are used instead of deeds of trust, the process can take six months or longer.

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Will discharging my mortgage damage my credit rating?

The Judge's order, which you receive at the end of the process, stipulates to the lender that there are to be no bad marks or reports to the credit bureaus. Consider this: since the payments are current at all times, what is there for the lender to report? So far the mortgage elimination professionals have not seen this process adversely affect the homeowner’s credit rating. And it should not for the simple reason that if fairly reported, your credit information should reflect two things – that the debt is satisfied in full and that it was satisfied early.

Should lenders attempt to influence the manner in which your credit information is reported, they will be notified that they are open to a lawsuit under anti-racketeering statutes (RICO).

If, on the other hand, the payments are in arrears, then the lender will often report to the credit bureaus. This can still be remedied by the Judge's order. In this case, there is likely to be a bad report to the bureaus which is later removed.

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Will I be able to get another loan or will the bank put me on a blacklist?

First yes, you should be able to get another loan and no they shouldn’t put you on a black list. By law, there are only a few reasons why a lender can refuse you a loan, and discharging your mortgage by this process is not one of them. If a lender should refuse for the wrong reasons, he can be sued for triple damages under existing statutes such as RICO.

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What if the process does not work?

Based on the experience to date, the mortgage elimination professionals have every expectation that their process will continue to be 100% successful as it has been, but please note that your agreement does state a limit to what the company may be able to accomplish, and in that eventuality, you may choose to drop the case or proceed on your own. You will receive help with information and access to qualified professionals who can assist you in pursuing your goal of becoming debt free. In this instance, your application fee is non-refundable.

However, just to reassure you, the method the qualified professionals use provides only two responses the lender can come up with and in both cases, you win. The lender has no choice but to comply because he wrote the contract and it contains non-judicial remedies available to both the lender and the borrower. The mortgage elimination professionals have simply learned how to use those remedies to get you out of a very unfair and dishonest agreement. 

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How Does The Process Work?

The exact details of the process are proprietary intellectual property and cannot be divulged for two reasons. First, this is a business and the mortgage elimination professionals are not about to give away trade secrets. Secondly, if they did, people would try to accomplish the same end with minimal understanding of the process and risks, and this would likely result in inconsistent performance and unnecessary risks to the people who attempt it. Nevertheless, as a principal, you would be provided training, paperwork processing and coaching to assist you in learning how to handle your affairs in this new/old paradigm of sovereign citizen.

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How much does the program cost?

The person to provide that information is the qualified professional who provides that service. The initial cost essentially takes care of the cost of preparation and filing of documents.  When the mortgage has been discharged, a fee is charged that is a percentage of the principal. Normally the process is repeated which yields at least enough to satisfy this fee and the property is reconveyed back to you, the original owner as per contract. You then own the property free of encumbrances and liens possibly with cash to spare. After completing the initial forms they will send to you, further discussions can take place between you and the mortgage elimination professional to determine the fees.

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Can I go through the process if I am behind on my mortgage payments?

It is easier is you are not.

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Can I get refinancing at the end of the process if I have bad credit?

If you have bad credit you may have difficulty refinancing the property, so it is highly recommended that you start a credit repair process when you make application for discharge.  The professionals who provide this service expect to be paid on time for their services, and they ask you to take note of the fact that there is no profit in the business for them unless they successfully discharge your mortgage. However, they have been told by mortgage brokers that if you qualified for an 80% LTV loan at one time, given where interest rates are at the moment, it almost doesn’t matter what your credit rating is if you only need to get 15% out of your property to pay the back end fees. 

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How long do you think this program will last before the banks change the regulations?

Honestly, this is unknown, but the banks and the government have few options to keep you from proceeding. First, they can take the country out of bankruptcy and put all of us back on the gold standard so that promissory notes are no longer legal tender; but realistically do you see that happening any time soon? Second, they could change the nature of the loan agreement to fully reveal what they are doing, but then they would have to come up with the money to pay for the home (the honest way) because the borrower would no longer agree to provide the value for the loan (his signature on the promissory note), so do you see them doing this? And even if they do this, we can still discharge all the millions of mortgages that have already been written.

They can also attempt to intimidate people by their misinformation and carefully worded warnings that only mislead. As we point toward their fraudulent actions and activities, they may try to retaliate by threatening and libelous statements.

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Will the mortgage company sue me?

In this sue-happy society, who knows? First, after the bank releases the property it is passed through a sequence of three buyers to obtain a warranty deed. We recommend that the fourth buyer be your Corporation Sole or Pure Contractual Trust to protect from predatory attorneys. Second, as long as you remain current on your payments you have not breached your contract in any way and the use of judicial review of the process can make later litigation unlikely. In addition, all mortgages or deeds of trust have 5-30 violations of the Truth in Lending Act. In many cases, this Federal law can be utilized to stop predatory action against your property.

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If I have bank accounts with my lender, should I move that money before starting the discharge process?

YES! And don’t delay. The mortgage elimination professionals already know that banks may freeze accounts of applicants. However, if the banks do this, the professional service provider will file complaints that will compel the bank to release your funds, but why go through the trouble? Then again, you have not been dishonor of your agreement and have not defaulted. The debt is discharged.

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Will I be able to do business with the same bank?

Yes, but why bother? There are plenty of other lenders to apply to.

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What kind of properties can I use this process on?

Virtually any property – commercial, residential, bare land, etc. that is financed through an institution in the Federal Reserve System.

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What could keep the process from not working?

If the client does not reveal all pertinent information about liens or positions on the property, especially a position that has foreclosed on the property, that could stop the process. The mortgage elimination team must know all the pertinent information. The client must also remain current on his payments throughout the process and file documents in a timely fashion as instructed by the processing team.

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Will this process work for private loans?

No, it will not. The professional service providers will not attempt to discharge a private party note.

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Will the bank or mortgage company be harmed by this process?

They might like for you to believe they are, but they are not. In an honest loan agreement, the lender’s supply of money is decreased by the amount he lends you and he is taking a real risk. The interest you pay on the loan is his profit, his reward for taking that risk. In a bank loan, when you sign the promissory note, not only is the banker not out of pocket the amount you are "borrowing" because your promissory note funds the loan, but the banker’s supply of money is increased up to nine times when he fractionalizes your note through the Federal Reserve system. This extra money, created out of thin air is not only tax-free to the bank, but is available to be spent in any way the bank wishes. It is hard to see someone as privileged as this being harmed if you discharge your obligation.

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Will the lender try to contact me?

It is possible, and it has happened where some people have received letters and phone calls. If you receive such a communication, it will probably attempt to invalidate this process and insist that you continue to comply with the terms of your loan or you will be foreclosed on and/or referred to an investigative body such as the FBI. Do NOT worry and do NOT, under any circumstances, carry on a conversation with the caller or respond in writing to the lender. Simply forward the letter or the name and number of the person who called to the mortgage elimination professional, and it will be dealt with.  The lenders are trying to scare you off, but it won’t work. You are covered by the fact that you are CURRENT on your payments and the legality of the process that is employed.

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Kenneth M. DeLashmutt

"Debt Elimination and Credit Repair specialist"

Author of the "Mortgage Discharger" a FREE ebook about fiat money and mortgage debt elimination.

 

Contact Information:

 

 Website: http://EducationCenter2000.com

"Debt elimination and Credit Repair specialists"

Email address: educationcenter2000@cox.com

 

Teleconference every

Monday and Wednesday at 8 P.M. EST 

Speak with Experts who have been

discharging Mortgage Debt for years.

 

Teleconference Phone number: 404-920-6610

Please call me for current pin#

 

 Discover How You can Eliminate Mortgage Debt.

Get FREE information about Fiat Money and how

Banks don't actually loan you money for a Mortgage

at: http://www.educationcenter2000.com

 

Credits:

This Material Written by the following Gentlemen:

 

Sam Bouman,

Mail to: freedompool@charter.net

and

Allen Aslan Heart

Mail to; whiteaglesoaring@frontiernet.net

 

Edited and arranged by Kenneth M. DeLashmutt

© All Rights Reserved

Revised: 02/20/23.

 

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