Mortgage Discussions BLOG
YOUR PRIVATE PROPERTY IS YOURS!
Here is the breakdown of what has happened to property tax exemptions from 2024- January 2026, in Georgia: Private Property taxation is repugnant to the US constitution. Only taxation upon commerce is authorized by the federal constitution, or in its amendments, making taxation of non-situs an unauthorized tax.
If it's repugnant to the constitution it is not lawful to enforce! See Article 6 Clause 2 of the federal constitution to see one great reason why this is so. Other articles and amendments also apply including all 10 Bill of Rights (which is the constitution and are to be understood and followed applied as 1 article) & the 14th & 16th Amendments. Situs is comprehended as Business /Commercial use and here is where the line is. If there is -0- authority in the Constitution for a government to do something, then it's repugnant. See (Marbury v Madison 1803) for a greater detail, but in short:
The term "repugnant" in the context of Marbury v. Madison refers to laws that are contrary to the Constitution.
Chief Justice John Marshall's decision in this landmark case established that "a law repugnant to the
Constitution is void," meaning that any law that conflicts with the Constitution is not valid and cannot be
enforced. This principle is crucial for maintaining the rule of law and ensuring that the judiciary has the
authority to uphold the Constitution as the supreme law of the land. The use of "repugnant" emphasizes the
judiciary's role in interpreting and enforcing the Constitution, which is essential for the functioning of a
constitutional republic government.
Recent History 2024 - 2026:
1. The 2024 "Save the Homes Act" (HB 581) - Active 2025
Passed in April 2024 and approved by voters in November 2024, the "Save the Homes Act" (HB 581) went into effect on January 1, 2025.
What it does: It establishes a statewide floating homestead exemption that caps the annual taxable increase on a primary residence at the rate of inflation (based on 2024 values).
Opt-Out Status: Many local school districts and governments opted out of this exemption by the March 1, 2025 deadline due to revenue loss concerns.
Recent Update: Gov. Kemp signed legislation in April 2025 allowing local bodies that previously opted out to rescind their decision.
2. New 2026 Proposal: Total Elimination by 2032 (HB 1116/HR 1114)
In late January 2026, Georgia House Republicans introduced a new, more aggressive proposal to phase out local property taxes entirely on primary residences by 2032.
The Plan: The proposal (HR 1114 and companion HB 1116) aims to eliminate property taxes for homeowners by 2032, replacing them with a 100% homestead exemption.
Timeline: The exemption would increase gradually: $10,000 off taxable value from 2026–2028, $30,000 for 2029–2030, and $60,000 for 2031, leading to full elimination in 2032.
Revenue Replacement: Local governments and school districts would be allowed to levy new sales taxes (up to 3% for counties/cities, 2% for schools) to make up the estimated $5 billion+ in lost revenue.
3. Other Tax Changes (2025–2026)
Personal Property Tax Exemption: As of Jan 1, 2025, the exemption for personal property (furniture, equipment, boats, etc.) increased from $7,500 to $20,000.
2026 Senior Exemptions: New senior homestead exemptions for school taxes in certain areas (e.g., Fulton County) were approved by voters, allowing those 65+ with limited income to reduce their tax burden.
CONTACT YOUR REPRESENTATIVES STATE & FEDERAL TO VOICE YOU DESIRE TO END PRIVATE PROPERTY TAXATION!
Final Explanation of what to do, to settle debts:
Pay the debt!
BUT how you ask?
Okay, read this.
Here is the breakdown of why a Bill of Exchange BOE, is lawful to use as a Cash Equivalent.
The 1 paragraph Short Answer:
The statement means that a Bill of Exchange (BOE) is a written financial
document that is legally enforceable and acts just like cash. Even though it isn't physical currency (coins or Federal Reserve Notes), it has a fixed cash value and it can be traded, deposited, sold, or used to pay debts.
-------------------------------------------------------------------------------------------------
The Long Answer:
Here is why it is considered "lawful" and a "cash equivalent."
1. What is a Bill of Exchange?
A Bill of Exchange is a dated, signed, specific to an amount, written unconditional order to pay, used primarily in "international trade", but it's valid in the United States and all its territories because US Law says so. Please read the above references in the article titled: "Want To Learn More?"
It's a binding agreement, where one-person (the drawer) issues to another person (the drawee) who can also be a “person, corporation, a bank “, an order to pay a specific amount of funds, perhaps to a third party, who is (the payee) at a specific time.
Think of it as a formal – IOU (I Owe You) that is backed by banking laws.
2. Why is it "Lawful to Use"?
The term "lawful" here means that the document is recognized by the legal system of the US Govt. and by US commercial codes and in the Uniform Commercial Code UCC, in the states (and this is also adopted into every states codes too), it’s described for use in the Federal Reserve Act, further described for use In the 1933 Emergency Banking Act and in the minutes of the congressional record of those Acts, which give a reader incite of the "intent of congress" which is very important, (and it’s even in the Bill of Exchange Act, in the UK too).
It is a contract:
It's a binding debt obligation. If the "person" (the drawer) who issued the BOE doesn't pay, the holder (The Drawee) can sue them in court just like they would for any broken contract.
A BOE is a Negotiable Instrument:
In law, a BOE is a "negotiable instrument." This means it can be transferred from "person" to "person"; in law this is referred to as negotiated. If someone owes money then, via a BOE, they (the drawer) can sign a properly drawn BOE over to someone else (the Drawee), to pay that debt owed. The law treats the transfer of this paper document, just as the transfer of other value and SCOTUS has long ago ruled, that "if something has a monetary value and is negotiable, it's property". Thereby, a BOE which has value, can be an instrument at equal monetary value and negotiated between "persons".
3. Why is it a "Cash Equivalent"?
In finance and accounting, a "cash equivalent" is an asset, that is highly liquid and can be converted into cash very close to instantly, without losing value – dollar for dollar is the "doctrine".
A.} A BOE is a therefore, a cash equivalent for three main reasons:
It is "As Good as Gold" or Cash (read Congress' intent when writing the 1933 Emergency Banking Act that's cited above). Note: (Most of those things shown here in “ ” are legal terms, not just descriptive words).
If a reputable "person", "company" or "bank" issues a Bill of Exchange, the person holding it knows they will get paid as it's issued as an enforceable contract. Why? Because it’s a promise to pay, a “person”, "company" or "bank", who should then treat the properly paper itself, as if it were money and not lose or destroy it, as that would be illegal (as theft, conversion etc.)!
B.} It can be Discounted (or Sold for Cash Immediately):
This is the most important part. For Example, If you have a BOE that says "the Drawer" will pay "the Drawee"
$10,000 in three months, but you need the money today, you can go to a public depository institution AKA, a “bank” and sell the BOE to "the bank". Often, they want a cut for handling the "paper", so perhaps "The Drawee" might collect a slightly less amount (e.g., $9,800) and the “bank” advances "The Drawee" immediate funds, which "the bank" can be redeemed the note upon deposit with the Federal Reserve as they have what is called Operating Circular 10 privileges (OC-10), to present "properly drawn paper" to the Federal Reserve and receive advancements. So, a "Drawer or Drawee" through that process can turn a BOE into funds almost instantly then, by selling it, or depositing it as it functions exactly like other negotiable instruments.
C.} YES, It can be Deposited:
Just as a security instrument is deposited, such as a check, or a money order is deposited, if "properly drawn" a BOE is a dollar-for-dollar equivalent, to Federal Reserve Notes and it's to be honored as such, according to the laws of the United States. Dishonor may only occur, if the instrument is not properly drawn. Then, it must be protected, as it has dollar for dollar value and it may not be destroyed, (the law requires the return of the BOE, if it’s dishonored, with a full written explanation).
D.} It Settles Debts:
YES, in business if you owe a supplier money you can pay them with a Bill of Exchange, instead of a wire transfer or cash. If the supplier trusts the issuer (the Drawee) of the BOE, they can accept it as full payment and take it to the Depository Institution (BANK) for their assistance in the completion of that process.
E.} The Best Analogy:
The easiest way to understand a BOE is perhaps to think of it's like a "money order".
F.} It's Lawful:
Where it’s illegal to write a bad check, as that instrument is to be drawn against some funded private account,
a BOE if properly drawn, signed, (and the writer would pen it in blue ink with the addition of "Without Recourse" immediately after the signature), as then the BOE actually becomes a debt of the “debtor of all US Debt”. Who is that you ask?
This in law is specifically The United States government, by way of The US Treasury, the US Govt.'s paymaster. See notes on this below.
It is a therefor a legal financial instrument.
G.} Cash Equivalent:
While you are holding a check, you technically "have" those funds in hand. You can take it, to a check-cashing store, (a type of "bank") and trade it for US Funds PDQ., (normally for a fee).
H.} Summary
When someone says a BOE is a lawful to use as a cash equivalent, they are saying:
This paper document (BOE) is legally binding, and because it can be sold or traded, it functions exactly like physical currency, in business transactions it is a dollar-for-dollar equivalent.
Further Article FOOT NOTES:
The United States government is recognized as the debtor for all public debt primarily under
Section 4 of the Fourteenth Amendment, which mandates that the validity of public debt authorized
by law "shall not be questioned".
Additionally, in Article VI, Clause 1 of the Constitution validates all debts contracted before its adoption.
Key constitutional and statutory provisions anchoring this debt include:
Laws collectively establishing that the U.S. government is legally responsible for its debt, backed by the full faith and credit of the nation. Please See:
* The Fourteenth Amendment, Section 4 (Public Debt Clause):
Explicitly prevents the questioning of the validity of U.S. public debt.
* Article VI, Clause 1 of the Constitution (Debts Clause):
Confirms that all debts contracted before the adoption of the Constitution are valid against the U.S..
* 31 U.S. Code § 3101 (The Debt Ceiling):
Establishes the statutory limit on the amount of debt the Treasury can issue.
* 31 U.S. Code § 3123 (Payment of Obligations):
Pledges the "faith of the United States Government" to pay principal and interest on authorized debt.
31 U.S. Code § 3123 - Payment of obligations and interest on the public debt
(a) The faith of the United States Government is pledged to pay, in legal tender, principal and interest on the obligations of the Government issued under this chapter.
(b) The Secretary of the Treasury shall pay interest due or accrued on the public debt. As the Secretary considers expedient, the Secretary may pay in advance interest on the public debt by a period of not more than one year, with or without a rebate of interest on the coupons.
(c)
(1) The Secretary may issue a bond, note, or certificate of indebtedness authorized under this chapter whose principal and interest are payable in a foreign currency stated in the bond, note, or certificate. The Secretary may dispose of the bonds, notes, and certificates at a price that is at least par value without complying with section 3102(b)–(d) of this title.
(2) In determining the dollar amount of bonds, notes, and certificates of indebtedness that may be issued under this chapter, the dollar equivalent of the amount of bonds, notes, and certificates payable in a foreign currency is determined by the par of the exchange value on the date of issue of the bonds, notes, or certificates as published by the Secretary under section 5151 of this title.
(3) The Secretary may designate depositaries in foreign countries in which any part of the proceeds of bonds, notes, or certificates of indebtedness payable in the foreign currency may be deposited.
UCC Article 9 deals with secured transactions and, specifically, UCC § 9-307 outlines debtor location
UCC 9-307. LOCATION OF DEBTOR.
(a) ["Place of business."]
In this section, "place of business" means a place where a debtor conducts its affairs.
(b) [Debtor's location: general rules.]
Except as otherwise provided in this section, the following rules determine a debtor 's location:
(1) A debtor who is an individual is located at the individual's principal residence.
(2) A debtor that is an organization and has only one place of business is located at its place of business.
(3) A debtor that is an organization and has more than one place of business is located at its chief executive office.
(c) [Limitation of applicability of subsection (b).]
Subsection (b) applies only if a debtor 's residence, place of business, or chief executive office, as applicable, is located in a jurisdiction whose law generally requires information concerning the existence of a nonpossessory security interest to be made generally available in a filing, recording, or registration system as a condition or result of the security interest's obtaining priority over the rights of a lien creditor with respect to the collateral. If subsection
(b) does not apply, the debtor is located in the District of Columbia.
(d) [Continuation of location: cessation of existence, etc.]
A person that ceases to exist, have a residence, or have a place of business continues to be located in the jurisdiction specified by subsections (b) and (c).
(e) [Location of registered organization organized under State law.]
A registered organization that is organized under the law of a State is located in that State.
(f) [Location of registered organization organized under federal law; bank branches and agencies.]
Except as otherwise provided in subsection (i), a registered organization that is organized under the law of the United States and a branch or agency of a bank that is not organized under the law of the United States or a State are located:
(1) in the State that the law of the United States designates, if the law designates a State of location;
(2) in the State that the registered organization , branch, or agency designates, if the law of the United States authorizes the registered organization, branch, or agency to designate its State of location, including by designating its main office, home office, or other comparable office; or
(3) in the District of Columbia, if neither paragraph (1) nor paragraph (2) applies.
(g) [Continuation of location: change in status of registered organization.]
A registered organization continues to be located in the jurisdiction specified by subsection (e) or (f) notwithstanding:
(1) the suspension, revocation, forfeiture, or lapse of the registered organization 's status as such in its jurisdiction of organization ; or
(2) the dissolution, winding up, or cancellation of the existence of the registered organization .
(h) [Location of United States.]
The United States is located in the District of Columbia.
(i) [Location of foreign bank branch or agency if licensed in only one state.]
A branch or agency of a bank that is not organized under the law of the United States or a State is located in the State in which the branch or agency is licensed, if all branches and agencies of the bank are licensed in only one State.
(j) [Location of foreign air carrier.]
A foreign air carrier under the Federal Aviation Act of 1958, as amended, is located at the designated office of the agent upon which service of process may be made on behalf of the carrier.
(k) [Section applies only to this part.]
This section applies only for purposes of this part.
In the year 1933 Congress ended the demand of gold and silver coin as money, replacing that form of payment with notes, and they used the word "including" when describing "notes": "including Federal Reserve Bank Notes" (today reduced in name size to Federal Reserve Notes), "Checks, Drafts, Bills of Exchange, ..." . this then made all other currencies against "public policy" and "notes" were said to be the new lawful currency.
Oh, sure we could go further, but the reader needs to study what they read, and do their own research, as all adults must so they can take proper actions. So, here we will end by biding the reader a happy "bill" paying.
The Joint Resolution of June 5, 1933, titled: “An Act to Assure Uniform Value to the Coins and Currencies of the United States” along with the Federal Reserve Act of 1913, specifically Section 401, Subsection 18(6), defines “eligible paper”—including bills of exchange, drafts, notes, and trade acceptances—as currency.
Congress explicitly stated that these instruments are to be accepted at par with Federal Reserve Notes. In fact, the Congressional Record of March 9, 1933, on pages 78 through 83, confirms this interpretation and states that these eligible papers
are the foundation of lawful money issuance. When I tender a properly structured Bill of Exchange it is then dollar for dollar equal.
If one is submitting lawful tender in the exact form contemplated by Congress as the foundation of our legal tender system, it is to be honored at par. Now, under 12 U.S.C. § 411 and § 412, these instruments are both lawful tender and lawful collateral. This is not an opinion—it’s the statutory basis of how the Federal Reserve system functions.
And it is further acknowledged under IRS protocol, in IRM 3.8.45.5.9, which permits such instruments (Bill Of Exchange) to be submitted as payment when verified and properly drawn with permission granted (from the writer) for the Campus to settle those debts through Fed-Wire, with that instrument.
Now, tell me please, how our debts can't be settled with properly drawn paper, or was it already a settled matter, when you signed the Promissory Note or bill of exchange?
My opinion is: it is already settled.
Let me explain something, no one seems to comprehend:
1] No bank or mortgage company loans their own funds or that of their clients & shareholders. They might borrow money from the Federal Reserve system, overnight or up to for 90 days to fund transactions they have notes to back up, but they are not loaning their funds.
2] Promissory notes, after properly being drawn, are then presented {after being signed by the loan Creator/Signer/Borrower-in-custody}, to the Federal Reserve Banks “discount window” by a company with operating circular 10 discount window privileges, (perhaps the loan originator company or another company). The Federal Reserve then presents this properly drawn paper (called a note) to the US Treasury and if the paper is in order, it is accepted as a debt of the United States (per 31 U.S. Code § 1501 - which is documentary evidence that's requirement to be Government obligations), and the printing of the funds applied for by the Federal Reserve Bank is begun once approval by the Treasury comes and those funds are transferred to the loan originator company or that company that applied for the funds, who then pays for the property the "Creator/Signer/borrower-in-custody of the loan" that requested those funds for a purchase.
3] The Loan Originator Company, can do all this, if they have Operating Circulator 10 privileges, to present to the Fed. Bank System notes, "all qualified paper" and under the Creator/Signer/borrower-in-custody signing a Power of Attorney for all banking matters over to the loan originator, they will act for the borrower in all banking maters for this said “Loan“.
4.] The original resulting funds (principal amount) are moved to the loan originator company, plus the full interest that would be due, for the entire period of the notes term. (Example 30 year loan 10% over the term, is the interest paid as compounded).
5.] Then, each week perhaps, the loan originator company will then with its O. C. - 10 Privileges, presents yet another of those signed documents, to the Federal Reserve, for the full funding again, plus they receive again the full interest for the term of the note too. This is done for each piece of paper signed, (application could be submitted too), as it becomes a note when properly endorsed and notes are there-by the creation of funds. (For references see The Federal Reserve Act 1913 An Act to stabilize and control the currency of the US 1933 (also known as the Emergency Banking Relief Act) noted below.
6] Why can they do this?
Because the creator/Signer/borrower-in-custody signed a note, plus a power of attorney, to handle all those banking maters for that note (s).
7.] What happens to those funds?
They go into an account in the Creator/Signer/borrower-in-custody's name (per the Borrower-in-Custody Agreement), and are held earning interest by perhaps the loan originating company and that company either continues to present notes and receive funds totaling the original principal plus interest, as described in the notes terms when they present notes to the Federal Reserve window, or perhaps until they sell some of that other signed properly drawn paper off to another loan originating company which will do the same process again until the notes are all sold to the US Treasury.
8.] If the Creator/Signer/Borrower-in-Custody doesn't ever request a history of the entire loan funds ( including in clearings accounts, they may never know about all the funds applied for, and those funds become abandoned property of the Creator/Signer/Borrower-in-Custody if they don't request them and are eventually lost to them.
9.] But that's a fraud you say?
Yes, it is fraud by omission and that has no statute of limitations either, so the Creator/Signer/Borrower-in-Custody can go back on that loan originator company (or whoever bought their notes, as they assume those future debts too) and their executives are liable individually for frauds by deception/omission as well. And as they also sent the Creator/Signer/borrower-in custody a bill each month (by Us Mail) for that perhaps 30-year period of a mortgage requesting/demanding payments, on something they didn't even loan funds for there is mail fraud too and the RICO Act to deal with. Yes, individuals (not just government attorneys) can draw up criminal charges too, but we won't get into that here and now.
So, When the Creator/Signer/borrower-in-custody can produce proof of all of this in a bankruptcy court, through for example by a subpoena for documents, a loan originator which endorsed the signed promissory note "Without Recourse", and presents it to the Federal Reserve's for funds, it becomes clear that the actual loan was made by the US Treasury as it‘s without recourse, and the note was clear of liens so there‘s no expectation to be repaid.
Here is a breakdown of why this is the case:
The Federal Reserve:
The Federal Reserve, (a system of 12 central banks), operates the Discount Window to lend funds to “borrowers” of properly executed paper, by way of OC-10 privileged depository institutions (most just say banks but they are actually public depository institutions as all individuals that do banking business are deemed in law as a bank). This funding process is governed by an application process for entities that have Operating Circular No. 10 (OC-10) forms on file with the Federal Reserve System.
The role of use of the words "Without Recourse":
When the loan originator (e.g., a public depository institution “bank") endorses a Promissory Note "Without Recourse" and takes it to the Federal Reserve for funds, they are selling the note in its entirety at that moment and transferring the risk of non-payment to the buyer which is per 31 U.S. Code § 1501 the US Government. In this case, the Federal Reserve (acting on behalf of the U.S. Treasury is printing on demand funds for this transaction) and assumes that risk per the 1913 Fed Res. Act terms.
The role of the loan originator (bank):
The loan originator (or your bank) facilitates the initial loan to you, the individual borrower-in-custody, and may hold the promissory note temporarily as overnight funds can be applied for to cover their short-falls of funding notes they create. However, by endorsing it and transferring it to the Federal Reserve, the bank is essentially trading the promissory note for "cash" from the Federal Reserve. Your bank is not the entity making the loan, but rather an intermediary in this process.
The role of the Creator/Signer/Borrower-in-Custody of the promissory note:
The “person” (a legal term), who signs the promissory note is the “individual or entity”, (legal terms), who borrowed the funds, but only the signature stands good for the “loan” and it's legally obligated to the US Treasury repay the debt (unless it is marked Without Recourse, when Gold and Silver Coin return to the United States as "Money“ Until then it's all just "notes". The terms of the loan, including the repayment schedule and interest rate, are outlined in the promissory note, and the borrower-in-custody remains responsible for fulfilling those terms when money returns (See the Emergency Banking Act 1933) without the without recourse added.
The role of the U.S. Treasury:
Congress legislated that the U.S. Treasury and the Federal Reserve must work together in the country's financial system. While the Federal Reserve manages the transfer of funds on notes actual lending is from the US Treasury (if “eligible papers” are presented. See the Emergency Banking Act for that description. This means that when the Federal Reserve advances funds against a promissory note, those funds are essentially coming from the U.S. Treasury and not any other “person".
In summary, the loan originator makes the initial loan happen by their presentment of eligible papers, through the Federal Reserve but by using the "Without Recourse" endorsement on those documents, the US Treasury become the effective lender, assuming the risk and ownership of the note and any non-payment from the original borrower-in-custody is forgiven when “without Recourse“ is there upon those notes thus they don‘t expect it back.
When funds for a loan are collected by the originator that stamps the documents "without recourse," (the entity that originated the loan) is not the actual lender and they by presenting the promissory note to the Federal Reserve without recourse are there-by selling the note-loan to the US Treasury. The term "without recourse" means that the loan originator has no recourse against the borrower either. This means that if the borrower does not pay back the loan, the originator cannot pursue the borrower for the remaining debt, with no recourse against the Creator/Signer/borrower--in-custody) if they default.
Here's more:
Dodd-Frank Act and Discount Window:
The Dodd-Frank Act changed the way the Federal Reserve's discount window (where funds flow from) operates. Before the act, the discount window could only be used to provide liquidity to banks in case of temporary liquidity problems. After the act, the Federal Reserve can provide loans to other entities including individuals, banks, LLC's, ... (also read the Emergency Banking Act for same those entities).
"Without Recourse": as stated above this phrase indicates that the loan originator is giving up their right to go after the borrower if the loan is not repaid and the note must be free of lien to sell it.
Under federal regulations, the entity that actually funds the loan (Federal Reserve Bank System) is responsible for paying the loan originator the requested funds from the promissory note. Sometimes this is at first a loan of funds, (overnight) so the property can be acquired, but it's paid back within 90 days maximin, when the funds for the sale of the note (plus all the interest) is sent by the Federal Reserve to the note originator, the principal amount of those funds transferred will cancel the debt, the originator borrowed overnight owes, plus provide them the full interest amount (profit). The loan originator is a licensed professional, who handles the mortgage application process and connects the Creator/Signer/Borrower-in-Custody, with the actual lender (the US Treasury), through the Federal Reserve System, but by requirements of law they do not actually use their own funds to fund that loan. This compensation framework was established by the Dodd-Frank Act to prevent deceptive lending practices by tying the originator's pay, to the specific terms of the loan.
How are loan originators are paid for their work preparing the note?
Compensation for loan originators, legally comes from one of two sources, and the rules prohibit receiving payment, from both:
From the lender (US Treasury):
The loan originator is paid a salary, commission, or a combination of both by the financial institution that provides the loan. This is the most common payment method for loan officers employed by a bank or mortgage company.
From the loan Creator/Signer/borrower-in-Custody:
In some arrangements, particularly with independent mortgage brokers, the Creator/Signer/Borrower-in-Custody may pay an origination a fee directly, for the service of securing a loan. If the Creator/Signer/Borrower-in-Custody pays this fee, the originator is legally prohibited from receiving additional compensation from the "lender" (US Treasury).
The role of the loan originator = Facilitator
The payment structure makes sense when you understand the loan originator's function in the lending process:
The loan originator's, are only “Funds Facilitators" not a funding institution:
A loan originator, whether a loan officer working for a Public Depository Institution/bank or an independent mortgage broker, is a “licensed guide” who helps the borrower through the application, documentation, and negotiation phases of getting a mortgage.
Intermediary role:
The originator serves as the “Liaison” between the Creator/Signer/Borrower-in-Custody and the Public Depository Institution, AKA: bank or financial institution, that will actually procure the funds through the Fed Reserve.
Clarification on the U.S. government debt statute:
The U.S. Code Title 31, describes how the federal government records and tracks its own internal obligations and liabilities, not the consumer mortgage process. It is unrelated to who is responsible for paying a private mortgage loan originator.
So, if you've got a predatory entity trying to take your Home what can you do?
Try Bankruptcy Court, especially when this is going on in a Non-Judicial Foreclosure State as they can move in quickly there perhaps in just 90 days and unless this is a wider problem I would only list just what’s being stolen - the house and land (Your Home) and make the predatory entity prove in court, who made the “Loan” and who is to be paid back, and when they are to be paid back (or if they were already paid back), and be sure and request all those funds back that you sent them over the years (in payments), plus all those funds they collected in your good name, but failed to tell you about perhaps placed in a "in-clearing-account", as it’s often as much as 900% more, than the original principle plus interest applied for by deception. Foreclosure brings about the termination of the Borrower-in-Custody Agreement.
An analysis of "rights" to any with sense shows surplus funds (perhaps found by subpoena) that were to be placed in the In-Clearings Account are the "property" of the original Borrower-in-Custody, not the loan originator or others that applied for funds in your name such as a depository institution.
Who here knew they were a bank?
You are operating as a "depository institution" under the definitions of 12 USC § 5002(2) (which is part of the Check Clearing 21st Century Act), defines a "bank" as:
"Any person located in a State engaged in the business of banking, including any depository institution as defined in section 461(b)(1)(A) of this title, a Federal reserve bank, a Federal home loan bank, or a government entity acting as a payor"
So Yes, you are a bank.
As a bank or depository institution under this chapter:
1] Check Processing: I am authorized to truncate original checks, create substitute checks, and handle checks for forward collection or return.
2] Legal Equivalence: I recognize that a properly prepared substitute check is the legal equivalent of the original check for all purposes.
3] Indemnity & Warranties: I comply with warranties regarding the accuracy of substitute checks and provide indemnification for losses caused by the use of substitute checks.
4] availability of funds deposited into customer accounts.
As that you are a bank, you can discharge and thereby settle your debts through Fed Wire.
Want To Learn More? Also Read:
THE LONG-STANDING MANDATE OF THE AT-PAR DOCTRINE
https://redressright.me/At-PAR.html
https://www.govinfo.gov/content/pkg/COMPS-270/pdf/COMPS-270.pdf
Pay Attention to "bills of exchange" as that a "Person" can write those and they are worth dollar for dollar the amount shown, and read:
https://govtrackus.s3.amazonaws.com/legislink/pdf/stat/48/STATUTE-48-Pg1.pdf
&
https://www.govinfo.gov/content/pkg/COMPS-255/pdf/COMPS-255.pdf
Check Clearing 21st Century Act
https://www.federalreserve.gov/frrs/regulations/check-clearing-for-the-21st-century-act.htm
OC-10 Agreements
https://www.frbdiscountwindow.org/Pages/Agreements/OC10_Agreements
IRS 3.8.45 Manual Deposit Process (SEARCH THERE FOR "bill", See IRM 3.0.167.5.2.1 FOR HOW THE IRS IS TO RESPOND TO A VERIFIED PROPERLY DRAWN BILL OF EXCHANGE ISSUED TO SETTLE THE ACCOUNT OF THE TAXPAYER)
https://www.irs.gov/irm/part3/irm_03-008-045r
We are attempting to build a community of more informed people that work together for all our betterment. This page is designed to be educational only, not advice as that's something altogether different. Nothing in this website is offered as legal advice.
GOT SOME REAL FORCLOSURE PROBLEMS?
PLEASE READ THE ARTICLE BELOW ASAP, TITLED:
"Let me explain something, no one seems to comprehend"
For those that would like to hire Joe Woodall for assistance on a project, perhaps start that new project, with a paid consultation of just 30 minutes on the phone, at just $500. per half hour.
CONSULTATIONS ARE ALSO AVAILABLE ON FINANCING, Entertainment Business, RV & Mobile Home Park Investing, COMPLETE PROJECT DEVELOPMENT, SALES & MANAGEMENT, Pest Control, Waste Management,
OFF-GRID CONSTRUCTION In Conventional & NON-Conventional High Thermal Mass
Alternative Building Construction That Meets Codes,
ALTERNATIVE ENERGY PROJECTS Residential to Commercial, Energy Storage, Wood-gas, ALCOHOL FUELS,
SOLAR FARMS, BIO-GAS FACILITIES, AGRO-TOURISM, LANDSCAPED TOUR-GARDENS,
The Movie Exhibition Business, indoor theatres, drive-in theatres, theatre playhouses, & MORE.
These are just some of the things we've done before, so we know how and where to get the equipment that works for these needs. Pre-payments for consultation can be made securely through PayPal to sales@georgiaadobe.com. Please discuss your project with us before you pay for consultation, as we offer a first call for free to make sure, we can be of help to your project's needs before any payments are accepted.
Phone us M-F, 10 AM - 5 PM. at 706-363-6453 and speaking slowly, leave a detailed voice mail, including your NAME, email address, phone number and the location of where or what you need information about & you will be called ack ASAP or email sales@georgiaadobe.com
ADD NO ATTACHMENTS PLEASE OR YOUR EMAIL GOES INTO THE SPAM FOLDER!
All the info presented on these web pages herein is FREE info, published for all to learn from, just to assist as we can freely all projects out there. Use it, in your non-commercial use only, to further your education and no warranty of anything presented, is offered or implied, nor is any agreement to represent you, as your agent implied by these contents. Nothing in this website is offered as legal advice or a formation of attorney-client relationship. Therefore, take our opinions as presented herein freely, and check out everything you learn, before your use. We are attempting to build a community of more informed people that work together for all our betterment. This page is designed to be educational only, not advice as that's something altogether different. Nothing in this website is offered as legal advice.
So, who likes US Currency?
Here's a bit of info to remember: A Bill Of Exchange (BOE), is a cash equivalent! Dollar for dollar at par.
One may choose to receive any of the forms of US currencies available and not another, but you can pay for things, with a BOE because Congress wrote bills that became laws (when they were signed into law) and remember friends, ignorance of the law, is no excuse.