A trust is a Legal entity created by a party, the trustor, through which a second party, the trustee, holds the right to manage the trustor’s assets or property for the benefit of a third party, the beneficiary. The five main types of trusts are:
1. Living trust created by the trustor while he or she is alive.
2. Testamentary trust established through a will and which comes into effect, is created, when the trustor dies.
3. Revocable trust that can be modified or terminated by the trustor after its creation.
4. Irrevocable trust that cannot be modified or terminated by the trustor after its creation.
5. Mortgage Securitized Revocable trust that is created by the bank or lender, the actual debtor, without the Borrower’s knowledge before the Borrower purchases a home, business, or commercial property in order for the lender or bank to sell the same property multiple times for multiple profit without proper disclosure through mortgage securitization.
Mortgage and Note property interest held by a party, the trustee, usually another bank, for the benefit of another, the beneficiary, usually another bank, created by the Lender, a bank through a mortgage broker or another bank.
The first four trusts are self-explanatory. These can deal with anything, from cars, boats, household goods, jewelry, tangible items, and or real estate passing on to heirs.
These are common, everyday trusts that almost everyone knows about. The fifth one is the mortgage securitized trust that hardly no one is knowledgeable of.
The mortgage securitized trust is created by the lending bank months and, sometimes years, before you purchase your property. Your lender did not disclose this to you at your closing, because this securitization allows the lender to sell your mortgage and note multiple times for more money.
A bank can get insurance with more than one company in case you get behind on payments and they foreclosure on you. When you seek a loan modification, your bank servicer will tell you that you must miss a payment or two to be considered for the loan mod.
In fact when you get 90 days behind on payments, the next day the bank servicer can collect on the insurance for the face amount of your mortgage and note. In this way if they insured your loan with two different companies, they can collect the full amount of the alleged loan three times.
They get paid from the two insurance companies and from the insurance company that you have been paying for from your purchase date. Plus on each home in foreclosure the bank servicer gets 85 per cent of the loan value given as tax returns, write offs, or expense allowances from the IRS.
Even if there are no other insurance companies, the bank servicer gets 185 per cent of the loan value between the IRS and the insurance company at the very least and they still foreclose and steal your home.
There is a website where you can learn more about the mortgage securitized trust and take control of your financial future. This web site can help you with the proper legal evidence and special procedure to get your mortgage lien released for a free and clear home or commercial property due to the lender’s non-disclosure and questionable practices.