Irvine Housing Blog

Every time I start feeling sorry for a homedebtor, all I have to do is watch this episode of ‘My House Is Worth WHAT?’

http://www.youtube.com/watch?v=WgqSd3-nBFU

And then I go to zillow, and look at the birdseye view to remind myself that she DID get the new swimming pool and the larger boat.

http://www.zillow.com/homedetails/2290-Bayview-Ln-North-Miami-FL-33181/43977708_zpid/

She probably has a $1,000,000 morgage now yet a NEW home down the street sold this year for $405,000.

Well they didn’t spend the money on remodeling that’s for sure.  Welcome to Irvine, time to buy your $600K fixer.

What did they spend the money on?
College educations paid in full for their kids?
A business that still has revenue and equity?
Gold?
A home somewhere else paid for 100% cash?

It’s clear they didn’t spend a dime on life comforts.

IR—good analysis, but you let the Fed off the hook. Your key statement is “Investors demanded bad loans because the loans were often packaged into securities given AAA ratings.” It would be far more accurate to say “Investors demanded high yield “safe” loans because the Federal Reserve ZIRP destroyed the value of their savings. And people wanted to buy homes because ZIRP made expensive homes appear affordable”

The Fed should have know what responsible, sustainable monetary policy should look like, so they deserve 50%. ZIRP made the whole thing happen.

Bankers deserve 40% because the should know what a viable 30 year home loan looks like. They clearly failed to do their job.

Borrows deserve 10%—not because they are innocent (they are clearly not), but because they were doing what the Fed and Bankers enabled them to do. Borrowers shouldn’t be expected to know what a viable loan looks like. Bankers were supposed to be the experts here.

The minions can trick most of the people who go to court. When I say that they do not want us to go to court, I mean they do not want US––those of us who are onto them––to go to court because we can expose their fraud, and so ends their deceit. By our not going to court, then “dishonour, delinquent, and incompetent” apply and this allows them to charge the trust and treat us as the slaves we really are, due to the cestui que vie trust (CQV). By going to court, we are liable to fall for the deceit, fraud, and entrapment. Either way, they make us liable for the charge. Sending an EDP, on the certified copy of the birth certificate, to Vital Statistics, prior to the court date, ought to make the case disappear. The Registrar will be bound to notify any agency which has charged the CQV trust.

Sending an EDP, on the certified copy of the birth certificate, to Vital Statistics, prior to the court date, ought to make the case disappear. The Registrar will be bound to notify any agency which has charged the CQV trust. After finding our Divine Trust ID # http://globe-union.org/home.asp , if, in court, we are asked for our name, remember that this reveals the built-in presumption that we are a slave. If we answer to the Name, then we have admitted to being a slave. We are to answer, “I am Trust Recipient #……-……-……, also known as the form, [Name]. I’ve advised the Registrar of Vital Statistics to remove the name from the slave-roll.” In response to a demand for a plea, we can ask,

“How can I enter a plea before you have established jurisdiction?” If court proceeds, we can say, “Objection! Since jurisdiction remains unresolved, then, as a matter of law, I’ll appeal this. If you cannot prove jurisdiction, then dismiss this case.”

How to Succeed at Court: http://one-heaven.org/court_success/court_process_examples.htm

COMPLIANCE VS. CONSENT

So, to have their trick backfire on them, let them know, “With respect:  of necessity and under duress, I shall comply with your order, however, I do not consent.  Any oath or vow I utter, any action I take, any document I sign will be of no value to you without my consent. Without my consent to any bond which might be created on my word, by the honour of canon law, it will be deemed worthless.”  (See: Key Concepts:  http://one-heaven.org/ecclesiastical_deed_poll/edp_concepts.htm )  ‘Court’, from the word, ‘cautio’ means, ‘bond, security, bailment’. Court is not about justice; it is about money.

TRAFFIC “LAWS”

We know they do not really want us to “slow down”. If we all did the “speed limit”, they wouldn’t be able to collect revenue. They designed thousands of statutes which, if we don’t obey, and how could we even know them, never mind obey them, they will charge the CQV trust. I think my favourite might be the one about being fined for having more than one “proof of insurance” paper, in the car. If you have put this year’s insurance slip in front of last year’s, be prepared. Ask a cop why he cares. You can see not only how insane that is but also how desperate they are.

MORTGAGE

We know that they do not really want us to “pay the mortgage” because if we all paid the mortgage, we would remain in honour, we would not become “delinquent” and, ergo, we would not be what they want us to be, contend we are, and treat us as:  “incompetent”. It is the dishonour, delinquency, and incompetence which allows them to control us by charging the CQV trust and making us ‘pay’.

SLAVERY

Only slaves, aka “property”, are required to be enumerated. A woman was stopped at the border and asked for her passport. She said she didn’t have one. When asked, “Why not?”, she replied, “I don’t qualify for one.”  I presume this means that she didn’t have a birth certificate because that is what is required in order to get a passport. But, now we know that it is the birth certificate which evidences our enslavement.

Non-registration is our freedom. My son has no birth certificate. I have vacillated, over the years, about getting him one and a few years ago, I tried and failed, three times. Since it was so difficult, I figured it must not be the right thing to do, so I let it go.

For the rest of us whose names are “registered”, meaning: on the slave roll, which means “bind”, and “titled to the corporation”, we must contest the ownership of that title. The way to alter the status of the name of the CQV trust is to send, to Vital Statistics Registrar, an Ecclesiastical Deed Poll.  This will allow us to go after the Equity Redemption which ought to get us $10 million for “injuries”, i.e.: what they have stolen from us over our lifetime of slavery.

My humble prediction…OC home sales will likely do well this Spring. QE2 reinflated stock market (check out that chart), Boomers retirement portfolios resurrected beautifully.  OC Boomers flush with cash call Realtors, eager to fund down payments (or even buy outright) houses for adult kids who would struggle to buy any OC real estate with their savings/income/credit scores.  OC house is bought, kids/grandkids stay nearby, prices stay irrationally high relative to income. Entire family heads to local soccer field to cheer little Connor as he kicks the winning goal.  Day concludes at South Coast Plaza shopping for furniture/housewares.

WTF?

I wonder if every IRS and CRA employee ought to be apprised of this. You might want to pass it along; it IS the loving thing to do.

*

It just crossed my mind that you might be unfamiliar with the banking system. Allow me to use the “Lottery” as an example. People generally use cash to buy lottery tickets. The lottery pot is about $20M at any given time – CASH!  If you won $8,000 in the lottery, you would take the ticket for verification. Would someone go to the cash drawer and count out your $8,000? No; he would write you a cheque. If you accepted the cheque and never did anything with it, nothing would occur. Nothing would change. No accounts would be debited; no accounts would be credited. That cheque is valueless until you endorse it. When you do, suddenly, it is worth $8,000. What’s different?  Your signature is what gave it value.  This can be verified in §57.1 of the Bills of Exchange Act of Canada which states that the signature IS the money.

Now, if you were to deposit that cheque, your account would be credited. If you were to cash the cheque, the bank would give you $8,000 cash. Then, what happens to the cheque?  Its value to the bank is quite incredible because that credit can off-set the liability of your cash receipt or account credit and, now, their ledger is balanced at no cost to the bank.

What banks are permitted, by law (the Bank Act), to do is hypothecate the value and lend it out numerous times for dramatic profit. (For details on how a bank makes a fortune from your signature, Google: Money As Debt). Suffice it to say that the cheque became a huge asset – vastly more than its face value. So far, you have benefited a bit and the bank has benefited a lot, by your signature, but the real winner, by far, is the Lottery itself because the bank returned the cheque to them. Although it is worth only $8,000 on its face, the signature upon it grants it interminable value. That cheque gets sold on the securities market and it literally travels the world creating a profit each time it is sold. So, your signature has created another fortune, this time for the Lottery. Did they EVER have to dig into their pot of $20M in order to give you your win of $8,000?  No.  You might think $8,000 was a windfall, but the truth is, bankers profited by far more than you did and it was all funded by you.  YOU created your lottery win.

Can you see that the Lottery is simply a cash-confiscatory game for the ones who run it – the World Bank?  Can you see that IRS/CRA operates the same way?  Can you see that IRS/CRA is just an agency of the International Monetary Fund and the World Bank?  If you grasp this concept, you’ll see that not only do I not “owe” IRS/CRA anything but also I was the source of value which will create egregious revenue for IRS/CRA which has nothing to do with the government of U.S.A. or Canada, or the States or the Provinces, or the people of either. Its sole purpose is CASH-CONFISCATION. I am certain that you, also, have felt the effects of the IMF on your personal finances. Whatever your loss, it is important for you to know that it was all by design and intention.

Please realize the truth of this, before you consider confiscating, from me, the meagre amount that I have, compared to what IRS/CRA will receive, forever, from my signature. I created the value and IRS/CRA is the beneficiary.  Then, please, consider a job more suited to your ethics.    Thank you.

Click on my name for more info.

I must add the third responsible party - the Real Estate Cartel. Many an Agent referred a borrower to me during the 2004-2007 boom only to find the conversation went something like this:

Agent - I’ve got a buyer. They want to put an offer in on a $500,000 1br / 1ba Condo.

SGIP - Thanks. I spoke to them earlier today. I don’t know how this will work. They have no cash down and make $1,500 a month gross.

Agent - Hmmm. That’s not what my other lenders at Countrywide and WAMU said. They could qualify them up to $1,000,000. I guess the only thing I can say is THANKS FOR SCREWING UP THE SALE. YOU SUCK.

Off the buyer would go, only to be set up for failure. Many of these buyers then would Ponzi their home, trying to fit that $1,500 per month income into a $4,000 per month payment the only way they knew how - leverage in an appreciating market.

The majority of the failed home owners who purchased before 2002 when Underwriting standards vanished were felled by their own self inflicted wounds. Those who purchased after were aided by the Real Estate Sales Cartel promising prices that will reach to the sky. Who didn’t hear “oh, you can always refi later” or “You’ll likely sell in 5 years so buy what you can now”?

If I had to put percentages on it, it was certainly lenders in the lead, followed by the Real Estate Sales Cartel, then borrowers who grew intoxicated on cheap money and rising faux status amongst their cul-de-sac bretheren.

My .02c

Soylent Green Is People.

Have all America’s real estate markets really been laid waste to?  Some have fared terribly, but they also had borrowers that were willing, for the most part, to do two things: pay double what someone else paid just a few years earlier, and/or devote a far higher percentage of their income to housing.  Throw in the specu-vestors and a lot of blame goes to borrowers.

In 1996, I received one of those, “Here’s $3,500 (USD) for a Happy Christmas .... just sign the back of this check”, where it outlined how much I would pay over whatever period of time I took to repay this alleged loan if indeed I cashed the cheque. I loved it. I mozied over to my bank, endorsed the cheque and was handed $3,500 FRNs. They were right; I did have a happy Christmas that year.

When they sent me a statement about a month later, trying to collect something from me which not only didn’t exist but also didn’t cost them anything other than postage and printing, I requested proof of their loss. They were flummoxed. They didn’t lend me anything. Understand that banks do not ‘qualify’ you in order not to lose $$$, they ‘qualify’ you in order to gain $$$; they don’t want to lend to educated customers. They can’t lose anything
they never lent. I hear where your ego just took you ... ‘well, you got something for nothing’. No, I didn’t; I sold my signature for $3,500 – a good price back in 1996. All I got was $3,500 in debt notes. Since then, I’ve done the math. My signature is now worth 15 billion dollars (CAD).
Then they got really jumpy and sent me threatening letters. I asked that they show me their loss. What loss could they possibly have sustained? Is my bank out any $$$? No, its books are balanced since they were electronically credited by the ‘other’ bank (there’s only one bank). Is the other bank out any $$$? No,
the returned cheque with my signature was their credit. So their books were balanced. Were my books balanced? Of course! My debit was my signature and my credit was the cash. It is all just bookkeeping entries.

Who owes what to anyone? The transactions are complete. It was simply an exchange of debit/
credit. Why would I give them anything more than what I already gave them – my signature, which is by the way, by far more valuable than $3,500 because they will lend funds against my signature many times, earning them, depending upon the rate of interest, an unlimited number of times that amount. This is called ‘fractional banking’ and their not apprising me of this is called ‘bank fraud’. So in fact I did them a huge favour by selling them my signature. They informed me that I had not ‘repaid my loan’. This is called
‘double billing’. ‘Double billing’ is fraudulent.

This is the best piece I’ve read here for a long time.

My only gripe is how flippant IrvineRenter remains regarding the chain of title. Yes, on the blame issue for the mortgage mess as a whole, this paperwork issue is irrelevant. But, it becomes very relevant when you purchase a bank owned home. The last thing a new homeowner needs is the hassle of dealing with title issues after they purchase a home. So, the paperwork issue isn’t meaningless. Even if the title holds (which will almost always be the case), it is no fun dealing with the legal drama that ensues when one of these deadbeats challenges the title on your property

“The emotional pandering is part of the left-wing political meme on this issue. The other political pandering to loan owners concerns robo-signer.”

I couldn’t agree more on this and I’m a friggin liberal. Crooks and Liars is one of the more mainstream sites I see this garbage on. During the Bush years these sites were very reasonable. I guess when you have a razor-sharp focus on a clearly illegal war based on doctored intelligence it’s pretty easy to have a reasonable position. Impeach the guy.

But, now that we got a centrist in office that has very reasonable policies regarding bailing out homeowners, these sites are awash with emotional diatribes about how these poor debt laden luxury car driving “homeowners” deserve a free ride for one reason or another.

“But, but… the banks got away with it!”

Hey friends, maybe your focus should be on prosecuting bank executives rather than promoting more theft.

Generation Y wants housing Las Vegas has in short supply

This means two things:
downward pressure on the types of housing that are less desired
much less downward pressure on desired housing types.

Different types of housing in different locations are not perfect substitutes.

Our financial system is screwed, and the only way to rebuild it is with consumer confidence.  Who has confidence in the dollar or our economy currently..No one. That to me is worrisome, and to top it off where are we seeing the most “economic stimulus”.. foreign investors?? Soon we’ll have to answer to another BIG bank,,, China.  And they’ll have our @**