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The following message is relayed to you by trom@lists.newciv.org
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David
Why are you trying to hold onto stuff?
Your brother owned the property and borrowed the full value of the property in
a mortgage which he did not make payments on. essentially he sold the property
and now need to move on.
Let it go.
Sincerely
Pete
>________________________________
> From: David M. Pelly <david.pe...@hotmail.ca>
>To: TROM List <trom@lists.newciv.org>
>Sent: Friday, August 3, 2012 9:46 AM
>Subject: [TROM1] Help wanted
>
>*************
>The following message is relayed to you by trom@lists.newciv.org
>************
>
>
>
>Dear Trommers,
>
>I have a legal problem as explained below:
>
>Is there anyone with any law back ground or just good old common sense that
>can help me solve this problem:
>
>(Note: I posted this question on: "JustAnswer" on line and a week has went
>by and no one has yet answered.
>
>Do not worry that this is a Canadian situation.
>
>Common Law is based on common sense and good judgement and good understanding
>of right and wrong. This is universal.
>
>
>
>Thanks in advance for any advice.
>
>David
>
>
>
>
>Problem:
>
>I have a brother who lives on a farm in Manitoba, which he inherited
from our parents, who died in 2006 and 2007. I am Arnold's oldest
brother and I live in Cambridge, Ontario. I am on perment disability
pension. I cannot travel there to handle the affairs. We cannot
afford legal battles or costs of any kind.
>
>
> Arnold is not capable of
farming the land. Arnold is poorly educated and considered mentally
handicapped, not capable of making sound decisions (having imparied
judgement) on any significant or even basic matters. Arnold works part
time or seasonal at best. Arnold has a very bad credit history.
Arnold is considered in the community as being a few cards short of a
full deck. Any sufficiently educated or and mentally or intellectually
competent person that knows Arnold, would atest to that.
>
>
>
>In 2009
Arnold needed some money and went to a mortgage company to get a loan.
He used the farm as collateral. The farm is or could be worth around
$50,000. The head office of the mortgage company is in Richmond Hill,
Ontario.
>
>
>Some how the mortgage company gave him a loan for $50,000.
How? I do not know. It is beyond me how he qualified for a loan. I
have to assume that the lender was opportunistic.
>
>
>The interest rate is
15.9% and the incidental charges for late payments etc. are
astronomical. $250.00 to $400.00 for infraction or actions. The list
is long and insane.
>
> I think Arnold made a couple of payments at the
beginning. And non since.
>
>As of now the mortgage company wants to
foreclose on the property and has listed the property for sale and I am
told, has three offers as of last week.
>
>
>The saving grace for the
moment, at least, has been that the neighbour leased the land for
pasture a couple months prior and has registered a land use caveat
against the property until March 31/ 2015, with government of Manitoba.
The land use caveat is dated and registered before the mortgage is
registered.
>
>
>The neighbor does not want to give up the land until then.
But the mortgage company is pressuring the neighbor to buy the land
even at a discounted price. I told the neighbour not to negotiate with
the mortgage company and only stick to his lease agreement. (At least
to hold the mortgage company off as long as possible, to give me time
to deal with this matter.)
>
>
> I remember from high school law that for
person's signature to be binding on a contract he has to be mentally
competent. I also know that in order for a person to qualify for a
mortgage, he has to have good credit rating and be employed or have the
financial means to make payments and pay for the mortgage.
>
>From what I
understand, these criteria are and can only be common sense and
therefore are or have to be common law, also. My evaluation of the
situation is that the lender was opportunistic and saw that there was
sufficient collateral and they would be safe. So they gave him the
$50,000. I also suspect that the lender thought that the property could
potentially be worth more. To me, at least based on common sense and
common law, this mortgage agreement is clearly fraudulent and therefore
null and void and unenforceable. It is an instrument of fraud. No
honest person or principled person or no one in their right mind would
give Arnold a loan.
>
>
>They might be safe with a $10 or $20 loan.
Giving Arnold a mortgage or loan with the farm as collateral is not
unlike taking candy from a baby. I need to and have to deal with this
matter only by letter. I have to give them a good scare.
>
>
>I want to
tell the mortgage company that: - they did not properly qualify Arnold
before giving him the loan, for the reasons I specified.
>
>1. - their
mortgage agreement with Arnold is clearly opportunistic and therefore
unlawful and an instrument of fraud.
>
>2. - to permanently cease and desist
all foreclosure actions and leave Arnold and the property alone and not
to come near him or the property for a 100 miles.
>
>3. - no honest or
principled person or lender would give Arnold a loan especially with the
farm used as collateral.
>
>4. I want to tell the mortgage company that
doing what they did to Arnold is not unlike taking candy from a baby.
>
>5. - they should be ashamed of themselves. - if they want to help such a
person in need that they should give him a donation of $50,000, and
give him guidance and therapy, not a loan. - their activities,
motives, and principles are clearly fraudulent and I will send the
authorities after them and have them investigated.
>
>6. -they are loan sharks and should all be
put in jail.
>
>
>I want to know what are the legal criteria under common
law, to make a signature legally binding on a contract, expecially in a
case like this? And the criteria necessary to make such a situation
lawful? And anything else I should know? I want to know what you
think of this matter and what you would do if you were in my (or our-
Arnold and I) shoes to have this matter handled and save Arnold and the
farm?
>
>
> I forgot to mention that Arnold does work part time and seasonal,
but it can't be said that he has steady income. Right now he has a
summer job and is working for the Manitoba department of hwys operating
an asphalt packer.
>
>
>
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>
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