What happened to mortgage burning?


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clockwise44
April 29, 2008, 01:50 AM
I paid off an auto loan with ford motor credit a while back and they sent me note “please accept this as proof your loan is paid”! I called them up and said “I did not accept the note they sent me! I want the promissory note I signed back!”, They put me through to the head Accountant who informed me that it was their property and that I would not get it back!
I just paid off some land in Washington and again I have not received the original promissory note back!
In November I will finally pay off my home mortgage and expect the same from them, Looks like I will be off to the lawyers soon because I KNOW I am entitled to get those notes back!
This must be a popular scam… any advise would be appreciated.
Thanks

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Treo
April 29, 2008, 01:57 AM
Clock wise welcome to THR.
Generally the mods want gun related topics only. Chances are they will ask you to move this to APS.
congrats on paying of the Mortgage

simpleguy
April 29, 2008, 02:07 AM
To take this a step further, most places are electronically storing things and your paper is most likely long gone.

As for mortgage burning........I am willing to bet due to the current crisis......it will come back in style, at least symbollically.

Winchester 73
April 29, 2008, 02:08 AM
I just paid off some land in Washington and again I have not received the original promissory note back!

Shoot them back a letter.
Now we're gun related,treo.:)

clockwise44
April 29, 2008, 02:45 AM
You may be right. This is about preserving gun rights. But, what are you preserving your right to have guns for? The Supreme court has ruled that the foundation of freedom lies in personal property. After all, what good is freedom if you can’t own anything? The Supreme court has also ruled that it is not the responsibility of law enforcement to protect that property, it is our responsibility! We ultimately fight for our freedom to bear arms to protect our personal property, our freedom. If we become too focused on one of our rights and ignore the rest it will be at our own peril.
If a lending institution refuses to return a promissory note, they are in fact refusing to grant you ownership. They are retaining the claim to your property that you granted them in exchange for the money they lent you. When you pay off your debt to them THEY MUST relinquish their claim. But they don’t. Now what? Load and lock?

Noxx
April 29, 2008, 03:12 AM
After all, what good is freedom if you can’t own anything

You don't own anything. Try not paying the government "Rent" (property taxes) on land you "own", and see how that goes.

I hope there's a lotta room in this handbasket.

packnrat
April 29, 2008, 05:34 AM
i do not know about burning the mortagage...................



.but people are burning the houses.:what:


.

Treo
April 29, 2008, 10:42 AM
If they are giving you a legal document that states that it is proof that you paid your debt in full, they have relinquished their claim to it.

Art Eatman
April 29, 2008, 11:48 AM
Yeah, APS topic. Not THR.

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