- Target:
- Colorado State Senators and Congressman
- Region:
- United States of America
- Website:
- livinglies.wordpress.com
A great portion of the foreclosures that have occurred in the US since the year 2000 were by Lenders who could not and were not required to present true proof of Standing to foreclose, taking property and homes illegally.
The formation of MERS (Mortgage Electronic Registration System) by major Banking institutions was designed to make the sale of mortgage notes to investors easier for Lenders without having to pay recording fees to record the transaction each time in county land records.
Most Notes have been “pooled” into Mortgage-Backed Securities and sold to investors several times over unbeknownst to the homeowner causing the Holder in Due Course of the Note to be unknown. As a result, nearly 50% of all real estate titles in the US that name MERS as beneficiary are clouded. This is a huge problem that must be addressed now as it will affect the purchase of all real estate in the US for years to come. Litigation will become rampant as titles are challenged by previous owners.
Non-judicial standing with regards to foreclosure goes against the US Constitution which states in Section 25 “No person shall be deprived of life, liberty or property, without due process of law.” It further states in Article II Sect 6, “Courts of justice shall be open to every person, and a speedy remedy afforded for every injury to person, property or character; and right and justice should be administered without sale, denial or delay.” This does not happen in non-judicial states with regards to foreclosure. A Homeowner’s right to confront and protect their home from illegal foreclosure does not exist.
There are 27 non-judicial states in the US. If all states were designated as Judicial, a court determination of foreclosure would be necessary, correct and real documentation would need to be provided in filing foreclosure paperwork and homeowners would be given the opportunity to contest the proceeding in a court of law. Land titles would not be clouded and illegal foreclosure would be significantly reduced.
We, the undersigned, present this petition to the Colorado legislature to change the state’s non-judicial standing to an entirely judicial designation with regards to foreclosure.
Current Colorado foreclosure proceedings do not require a full District Court hearing to determine if the foreclosure is legal and warranted. It allows Lenders to be taken on their “word” as no real and true proof of Standing as Holder in Due Course is necessary which has resulted in a flood of illegal foreclosures in Colorado.
Several CO Statutes conflict with each other in requiring the Assignment, Transfer or Endorsement of a Note to be filed in county records in order to be enforceable. The Rule 120 hearing should be eliminated. It is ineffective as only one question is asked, “Are you in default on your Promissory Note?” It does not take into consideration any other circumstances such as does the Lender have Standing as Holder in Due Course to foreclose, basic contract law violations with regards to robo-signing or if the information contained in the foreclosure documentation is accurate. The homeowner’s voice is not heard and has no recourse. This petition will require changing the Colorado Revised Statutes.
Should this legislation pass, a court determination of foreclosure would be necessary, correct and real documentation must be provided when filing foreclosure paperwork and homeowners would be given the opportunity to contest the proceeding in a court of law. Land titles would not be clouded and illegal foreclosure would be significantly reduced.
You can further help this campaign by sponsoring it
The CHANGE COLORADO TO A JUDICIAL STATE IN FORECLOSURE petition to Colorado State Senators and Congressman was written by Donna Steenkamp and is in the category Law Reform at GoPetition.