Help - Conditional Acceptance


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CA related to an attempt to pay mortgage with 1099A converted to personal loan

Mark Reno

This is gonna be a bit long because I want to explain my situation properly, so people may understand my...desperation??? Whatever you want to call it.

So, about a year ago, my wife's psychologist decided to change up her psychotropic meds to deal with a low-sodium problem caused by the meds. This resulted in her having a complete mental breakdown, to the point that she ended up interred in a mental hospital for several months. She is still severely impaired at this point, but making some progress (albeit very small as of yet). Before her mental collapse, she was making good money working from home as a call support agent for an insurance company. 

I am a programmer, and am contracted to a company to create and maintain software. Prior to the covid insanity, I was making very good money. By the time my wife had her collapse, my income was suffering quite seriously, and has not yet recovered.

Fortunately, I was paranoid about having a savings cushion for emergencies...and my mom died (it's annoying to me that this was a fortunate thing) leaving a sizeable chunk of life insurance for me. I have been working to figure out how the hell I can have the end result of not being homeless and broke. The severity of this problem was not fully apparent until I took over paying all the bills...something which my wife had previously demanded she be allowed to handle.

Many bills immediately were shoved off to the side and the minimal resources I had were metered out to try and buy myself as much time as possible to reach a point that I could, at the very least, not end up homeless and broke by the end of 2023. The savings account has been brutalized to make up for what my income and my wife's disability does not cover.

About four to five months ago, I stumbled across Brandon Joe Williams...and took a few months before I was sure I understood enough to know he wasn't completely full of...schtuff. Then, a few weeks ago, I happened upon Christopher Hauser's stuff. As of the past two to three-ish weeks, I have been trying to go full-immersion learning to rapidly assimilate knowledge and experience on all things state national theory related. This has been quite difficult due to an old car wreck injury that has left me in continual pain. My life for about the past 12 years has been a matter 'how much pain am I in today' which sometimes means I can read and listen to videos...and learn absolutely nothing because all I can think about is the pain.

As of today (06/28/23), I have submitted my passport app & explanatory statement. My wife is still waiting on her COLB before I can help her do her's. A few days ago, I assisted her by preparing a statement of acceptance to a certified letter sent to her by a credit card company. Due to all the stuff I recently learned, I realized the letter was actually an opportunity, instead of a threat. Based on how it was worded, I discerned three options. 1) ignore it and they will take her to court for the $20k+ debt. 2) call them and make ACCEPTABLE payment arrangements 3) send payment in full to the address they provided. I put together an acceptance letter indicating she has chosen option 3 and will be rendering payment via the only possible means she has available... a 1099A. This was sent certified mail a couple days ago.

But now the big thing... the mortgage. I have done some research on foreclosure laws in Missouri. What I found was quite nasty. Apparently, Missouri has recently added some new laws in an attempt to stop the violence. Yeah, you read that right. It seems, in Missouri there is a big problem with banks hiring people to surveil the property, waiting for the owners to leave...say to go grocery shopping or whatever. When the owners leave, the group invades the property, doing a lot of damage to the property and stealing things from inside the house...which are very often never recovered. Thus, as of this time, I am seriously hoping Chase bank isn't one of those who engage in such activities. Regardless, I am preparing to deal with such via...extreme prejudice. If Chase does engage in this, they will be responsible for the loss of life...which I will explain momentarily.

Okay\.\.\.\ my\ idea\.\ First,\ regarding\ the\ violence\.\ I\ intend\ to\ stay\ in\ regular\ contact\ with\ Chase\ and\ inform\ them\ the\ property\ is\ continually\ occupied\ and\ defended\ with\ deadly\ force\.\ Then,\ while\ I\ am\ on\ the\ call,\ also\ point\ out\ that,\ since\ they\ have\ been\ informed\ the\ property\ is\ being\ defended\ with\ deadly\ force,\ if\ anyone\ if\ hurt,\ it\ WILL\ BE\ their\ responsibility\ because\ they\ will\ have\ knowingly\ sent\ people\ into\ a\ deadly\ situation\.

Second,\ and\ this\ is\ the\ big\ thing\ I\ had\ an\ idea\ for\.\ I\ am\ thinking\ to\ send\ a\ CA\ along\ with\ a\ 1099A\ to\ render\ DOUBLE\ full\ payment\.\ They\ will\ be\ highly\ unlikely\ to\ want\ to\ give\ that\ up\.\ I\ will\ include\ a\ clause\ in\ the\ CA\ that,\ if\ the\ payment\ is\ accepted,\ but\ not\ counted\ registered\ as\ officially\ paying\ of\ my\ loan\ in\ full,\ then\ the\ amount\ of\ the\ 1099A\ will\ be\ treated\ as\ a\ short\-term\ personal\ loan\ with\ maximum\ legally\ allowed\ interest\ compounding\ daily\.\ In\ addition,\ every\ month\ that\ the\ loan\ is\ not\ officially\ registered\ as\ paid\ in\ full,\ a\ new\ 1099A\ for\ a\ duplicate\ amount\ will\ be\ sent,\ and\ considered\ as\ an\ addition\ to\ the\ original\ loan\ amount\.

The\ intent\ is\ for\ them\ to\ see\ the\ \$\$\$\ and\ the\ potentially\ massive\ downside\.\.\.and\ decide\ a\ 100%\ mark\-up\ payoff\ is\ worth\ immediately\ accepting\ versus\ either\ having\ to\ return\ the\ 1099A\ entirely\ or\ having\ a\ loan\ due\ to\ me\ that\ will\ cost\ them\ significantly\ more\ than\ the\ "loan"\ I\ have\ with\ them\.

So... is this reasonable, or will it not work? I am basically new to this and am not even 100% certain of what questions I need to be asking or researching...yet. 

Thanks for any help provided!

1 Answer
Best Answer

i would take one step at a time. Try the 1099 but there is also the coupon. Our mortgage comes with a coupon at the bottom so there might also be that option. Just remember you are the bene and should not make decisions for the trust.

1 Comment
Mark Reno

As it stands currently, I have submitted the 1099A...and they have said literally nothing about it. Completely ignored it. No communication whatsoever.

The monthly bills have continued to arrive. The first one I sent in the coupon payment as outlined here. It was rejected outright. They said they never received it. This month I will be performing my duty as the Agent to the Principal and accepting the bill with a proper indorsement...which will be AFTER I submitted my power of attorney to them establishing that I am operating fully as the Agent for the all-caps name Principal who holds the account and is the one they are contracted with.

I seriously doubt they are going to like it, but not sure if they will fight it yet. I think one major issue people are having getting the indorsed bills accepted is the lack of a PoA on file. I found in the UCC codes that a company is allowed to reject a payment attempt if they believe it is coming from someone not authorized to make a payment.