Professional Documents
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My Home Is Mine PDF
My Home Is Mine PDF
BY www.Cancel1Mortgage.info
“My Home Is Mine!” How To Stop Foreclosure by paying it off with the CAP Security
Instrument.
This book was assembled from several manuscripts and a variety of credible sources to help
you understand how you can fight the banks and pretender lenders and win at
www.Cancel1Mortgage.info NOTICE - Legal educational information is NOT the same as Legal
Advice. The application of law varies with an individual’s specific circumstances. We
recommend you consult a BAR ATTORNEY if you want Legal commercial, not lawful,
professional assurance that this educational information, and your interpretation of it, is
appropriate to your particular situation. Day Global or DG Processing’s CAP Security
Instrument Satisfaction of Mortgage and Mortgage Lien Release Consumer Advocate Educator,
its contractors, agents, and employees, do not offer legal, tax, or accounting advice, NOT
ATTORNEYS, and are not licensed to do so. Any charge of legal action or claims are hereby
accepted for value.
The laws of every state are in constant change, and although we go to great lengths to make
sure our information is accurate and useful, we recommend you consult an ATTORNEY who
deals in LEGAL commercial CITIZEN/PERSONS Codes and Statutes under the UNITED STATES
Corporation’s Color of Law under the Federal Uniform Commercial Code of Statute Contracts
and the UNITED STATES CODE of Statute Contracts, not true common law lacking in every BAR
Business COURT in America. If you want professional legal assurance that our information, and
your interpretation if it is appropriate to your particular situation is to read these laws yourself
and make your own determination.
This private email, message, e-booklet, electronic communication and any attachment(s) is
covered by the Electronic Communications Privacy Act, 18 U.S.C. § § 2510-2521, and is for
the sole use of the intended recipient and contains privileged and/or confidential
information. To all public servants, including but not limited to Federal, State, or Local
corporate government(s): I accept your oath of office as your firm and binding contract
between you and me, one of the People, whereby you have promised to serve, protect, and
Page 1 of 36
defend me, guarantee all of my unalienable rights, and defend the 1778 Constitution for the
united States of America Union of Republic state Nations/Countries. Any/all political,
private, or public entities, International, Federal, State, or Local corporate government(s),
private International Organization(s), Municipality (ies), Corporate agent(s), informant(s),
investigator(s) et. al., and/or third party (ies) working in collusion by monitoring my (this
email) email(s), and any other means of communication without my express written singed
permission are barred from any review, use, disclosure, or distribution. With explicit
reservation of all My Common Law and Constitutional Rights, without prejudice and without
recourse to any of My Rights. Any omission does not constitute a waiver of any and/or all
intellectual property rights or reserved rights.
This E-book is a layman’s explanation of what has been happening in the foreclosure and
home mortgage arena. It gives you an overview of Bank Mortgage Fraud in this country that
has reached epic proportions and provoke action to eradicate this outright Fraud upon the
people of America. Depending on what your situation is, you may react with disbelief, fear,
anger, or outright disgust at what you are about to learn. The following information is
supported with facts.
How would you like to find out if you could approach your mortgage company and convince
them to release their debt and lien on your title?
What if you found out how the mortgage company actually tricks you on every alleged loan
they make?
Wouldn’t you like to know the key phrase in mortgage contracts that lets you know you’re
being taken?
What if you could prove to yourself that you are the actual “creditor” in every loan
transaction? Which means YOU created the funds, the money (it is yours), yet get tricked into
paying it back to someone else with interest?
We’re going to be covering these and other items related to mortgage foreclosure and
mortgage lien cancellations.
First, we’d like to cover developments days having to do with the loan or Mortgage Promissory
Note, the “NOTE” and the Mortgage Lien Contract Security which is ONE DOCUMENT that you
are forced to sign on these “TAKE IT OR LEAVE IT” contracts. You can learn how you can
immediately prove up the funds to settle your mortgage, and how you can use a hidden for
over 100 years and a little known court room procedure to turn the tables on the bank, and
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actually put them in the debtor’s position where you take over the creditor’s chair, all due to
their dishonor, default, and Bank Fraud.
It is all in my client instructions when you utilize the CAP Security NOTE to pay off your
mortgage or any debt in about 14 days when you do your due diligence and present this
valuable information properly in your first hearing or at your Trial By Jury if the court will give
you a Trial By Jury.. Our State Licensed Financial Securities and Documents Processing
Enterprise is the only legal common law processing company in the USA under Local, State,
Federal, American, and International law.
In the past couple of years, the economy has headed south, and mortgage delinquencies are at
record levels and climbing. What has exacerbated the problem is the fact that a lot of these
loans have been repackaged and resold, many times without your knowledge through
Securitization and you gave your permission and consent for the banks and Pretender Lenders
to do this!! SIMPLY because you did not read the Mortgage Promissory NOTE and MORTGAGE
LIEN CONTRACT SECURITY alleged and presumed MORTGAGE DOCUMENT and changed some
of the wording before you signed!! This is where Cancel1Mortgage.info/downpayment comes
in and tells you what words exactly to change or mark out and
Cancel1Mortgage.info/cashdown to get a sample BILL OF SALE and DEED OF OWNERSHIP to
avoid the STATE’s Property Taxes. Of course, you’re talking about highly leveraged situations
that put you all at risk and severely crashed worldwide capital markets. Consequently, there
has been a huge rash of foreclosures. Are you in foreclosure?
The big problem is that you may think that there’s not much you can do. It’s a well-known fact
that in certain neighborhoods, when foreclosure notices go out, the home owners don’t even
bother to try to fight it. You simply give up and leave. In the process of leaving, many times
you leave everything there. You leave your TVs, beds, computers, you name it. You simply just
walk out and abandon things that took a long time to acquire. It’s almost like you’ve been hit
with despair, depression, and thoughts of suicide, isn’t it?
Wouldn’t it be a great thing to know that you can actually protect your real estate holdings
even in FORECLOSURE? How can you possibly do that? The fact is that many people today are
upside-down in a mortgage as compared to their home’s value.
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For example: Your current property value may be worth only $297,000 at the present time,
and when you got the loan, it was worth $600,000 or $700,000 and perhaps the loan was for
$600,000 after the down payment of $100,000.00 . Today, you still have that $600,000 loan
plus interest of $727,000 that you owe for a total of $1,327,000 for the period of the alleged
30 year mortgage. But you’re upside-down to the tune of the total amount owed. You don’t
see any other option except to walk away.
Most people do so, without realizing that your equity really belongs to you. One of the best
options that would prevent you from having to walk away is to eliminate the mortgage
company’s claim against your property. How can you possibly go about doing that?
The answer is actually very simple. Utilize the CAP Security at Cancel1Mortgage.info..
Everybody assumes that, because a bank or mortgage company is involved, there must be a
valid contract.
What we’d like to show you is that all bank and pretender lender Fannie Mae or Freddie Mack
processed contracts are merely presumed to be valid because they say so. Remember, ONLY
YOU were actually forced under a TAKE IT OR LEAVE IT one-sided bank processed unilateral
CONTRACT and you signed the NOTE and Mortgage Lien Security Contract at your closing
without reading it while listening to the closing Notary that worked for the Bank or Pretender
Lender while YOU paid her Closing fees!! Yet the basis of a valid contract is completely missing.
Therefore, there is no contract at all, because there is no consideration given by the Bank or
Pretender lender…!!! NONE!! They did not pay a penny for your property and did NOT sign
your MORTGAGE!
Wouldn’t it help to know what the “basis” for a “valid contract” is? Look in BLACK’S LAW
Dictionary, 4th edition under “CONTRACT”.. Most people think that contracts are the paper
that they’re written on with a signature affixed. You think that constitutes a contract. The
good news is a contract is actually a “meeting of the minds”, You the Borrower and the BANK
or Pretender Lender, with “Valuable Consideration given” by the BANK.. What consideration
did the Bank give you since you actually paid for your home with the down payment but were
unaware of this fact.. Only you gave your LAWFUL CASH Valued CONSIDERATION Credit
Signature on any Contract or Credit Agreement..
A meeting of the minds means that there was FULL disclosure, understanding by both parties,
and there was a valuable consideration given by both parties, AND BOTH parties singed and
accepted this MORTGAGE agreement Contract and Security..
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What if you found out, and it was provable, that there was no consideration from the bank at
all? What if you found out that the bank never actually disclosed what they were doing? DID
not loan you any money?? You paid for the property with only your down payment.. Did the
Bank actually hand you a check or money to pay the seller?? NO!! Do you think you might be
able to turn the situation around with this information?
If you are ready to fight to keep your home it is very possible to go to the court hearing and
win every time.. Actually, hundreds of people, already have quietly done just that, but these
cases were unpublished and hidden from you, the Public..
These proven and winning scenarios are in my Client Instructions.. They have done it, in
most cases, through the court battles without a hearing.. But that is doing it the hard and risky
way.. There’s a much better way to go, which does not need to involve going to court for
months or years except as a brief time of up to about 1 hour or less at your first requested
hearing and you walk away with your paid in full home, free and clear, of any bank liens or
attachments as a Private Banker Creditor that authorizes you to legally sign our company’s
STATE Licensed and legally Processed CAP Security which is money and legal tender also..
To become a Client and receive these fool-proof scenarios and Judge’s questions of winning
any case in any court when presented properly, you will need the ITEMS NEEDED and
AGREEMENTS forms at both www.PBNBA.com and www.Cancel1Mortgage.info to get started
to become debt free and own your home or mansion FREE AND CLEAR using these legal tactics
in our written instructions that are emailed to you when we receive all the paperwork and
your processing deposit into my Chase Bank Account.. Anyone can do this with any debt, even
sports stars, entertainers, CEOs of companies large and small, and actors..
REVIEW
Let’s review some of the issues that we’ve raised. First, what does the mortgage company do
to “take you” on every presumed loan they make?? What is the key phrase that all Bank,
mortgage company contracts, and Pretender Lenders have that when you read your Mortgage
Lien Contract that they call the “SECURITY”, should let you know that you’re being taken??
If you read through your mortgage or deed of trust contract line by line, usually on the third
page top, you will come to the key phrase which states, “The borrower warrants that he is
“fully seized” of the property”. These Mortgage Lien Contract Securities are presented to you
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before you even have a loan, apparently before you’ve bought the property. So how is it that
you’re “fully seized” of the property when you do NOT own it??
Wouldn’t you like to know how it’s possible to be, fully seized of the property, according to
the bank, pretender lender, or Mortgage Company, and yet you haven’t even gotten a loan
yet? By BLACK’s Legal Law Dictionary a “LOAN” is money lent.. Since there is no lawful
money lent, there is no actual loan and you are just RENTING the Property.. Let’s go back to
why mortgage companies and Banks take you on every alleged mortgage loan.
We’re not talking about hard-money loans from private individuals.. We’re talking about the
typical situation where a the bank, pretender lender, or mortgage company is actually not
lending you money at all, but they’re trading off of your good or bad credit and your actual
CASH Value Consideration Credit Signature asset.. If you do NOT Sign there is no alleged loan..
Do you remember the good old days when you used to do banking and you’d get all of your
original checks back in the mail from the bank the beginning of the following month?? Have
you noticed that banks don’t do that anymore since 1994 when BANK Selling and Converting
Securitization began?? Have you ever wondered why NOT?? They do not return the checks,
because your signature on those check documents, even on a cancelled check or a “bad” or
“closed account” check, is a valuable positive asset and can bring the bank more money
securitized and traded with foreign investors. That’s the reason why. Did you know that at
least 30 companies use your same cancelled check to make money thru securitization?? They
DO!!
In point of fact, the reason you know the companies are taking you is, because it’s not hard to
discover that the key phrase we were just talking about is a big clue on how you’re paying for
your mortgage. This is because YOU DO NOT READ before signing!! AND pursuant to law, you
have three days before closing to read the MORTGAGE!!
When you buy something with Federal Reserve International Promissory Note Dollars, you
might assume that you’re using money. If you take a look at what the Federal Reserve has to
say, they and the IRS claim that a $1 or even a $100 bill is just a worthless piece of paper..
When you ask them why people consider it money, it’s because they’re accustomed to doing
so and perceive FRNs to be money.. You are USED to it, common practice and the way you
have been taught in the Government Bank Run and Controlled SCHOOLS.. That’s the Federal
Reserve’s answer.
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Here’s the real fact. Today, there really is no money except U.S. Treasury Minted COINS.
Today, what passes for money are so-called promissory notes, perpetual debt instruments,
such as Federal Reserve Notes, Government NOTES or BONDS, and included is your CAP
Security Instrument Note under common law and the Laws (STATUTES) of the UNITED STATES
and all of these are debt instruments except the LAWFUL COINS..
There is no hard asset behind that Promissory NOTE (no gold or silver) not even an actual
CASH Value consideration.. Just a promise to pay.. ALL money and all of these documents are
promissory notes (and actually backed by YOU “the creditor” by the use of your Government
Created Birth Certificate, Social Security Number, and your Lawful CASH Valued Consideration
MONEY Credit Signature as collateral and as the BANK ASSET).
The real question becomes, “What’s the difference between a Federal Reserve Promissory
NOTE Commercial Paper and your State Licensed DG Processing Enterprise Processed CAP
Security Note Instrument that you make by legally signing the CAP Security to pay off those
alleged and presumed debts and loans as an Authorized Private BANKER at PBNBA.com”??
The answer is essentially: NO difference, when properly processed and used as money.. The
CAP Security is properly processed and used as money also, just like the Dollar or Government
Bank Notes are.
When you get a mortgage, what are you doing? You’re signing a bank processed MORTGAGE
consisting of the “Mortgage Promissory NOTE” and the “Mortgage Lien Contract Security”. The
question then becomes, “What happens to that note and security?” Would you be surprised to
hear that the mortgage company takes your note and security and makes money from it thru
monetization and securitization of your CASH Value Consideration Signature as a tradable and
sellable ASSET?? It is NOT their Mortgage Document, It is YOUR Property because the Bank or
lender did not accept it with their signature.. It remains your property forever, but the Bank
uses it under usufruct as their property UNTIL YOU CLAIM IT!!
The Bank, Mortgage Company, and Pretender Lender get paid in full many times over at
closing or shortly thereafter!! Up to 30 times over!!!!! When you thought you were purchasing
your home or commercial property or real estate, you bought it with your own CASH Value
Consideration signature MONEY and Certified Bank check money from your checking
account(s) on a worthless promissory note.. With your Property Free and clear at that
moment.. Did you know that? Did they tell you that? Did they disclose to you anything of this
nature or facts?? NO!!!!!!!!!!
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They take the promissory note you just signed, slap an “allonge” on the front, back, or last
page, and turn your NOTE into a “draft” or “money”, an ASSET to resell or assign to another
pretender lender debt collector, manager, servicer, for that is all banks, mortgage companies,
pretender lenders, Courts are!! The ALLONGE is called an illegal conversion or alteration by
the Federal and STATE U.C.C. Laws..
A draft or CAP Security is an “order to pay” with the words “Pay to the Order of”, not a
promise to pay, just like a regular check from your checking account at your bank or credit
union or a Mortgage Promissory NOTE and Mortgage Lien Contract Security, the MORTGAGE
that the bank, Mortgage Company, or Pretender Lender forced you to sign by duress and lack
of time to read.. The bank, Mortgage Company, or Pretender Lender got Paid-In-Full when
your new check, Mortgage Promissory NOTE and Mortgage Lien Contract Security
DOCUMENT, was sold into the TRUST or endorsed at the SECOND secret closing between the
bank, Mortgage Company, or the pretender lender and the Treasury before you even signed it
at your THIRD closing.. Yes a Credit Agreement Application Security or Mortgage closes three
times..
Bet you did not know that there are three closings, did you?? Closing 1 was when the seller
signed to sell his Real Estate property.. Closing Number 2 was when the unsigned contract was
taken to the treasury window to collect ten (10) times the amount of the NOTE.. This is why
the closing agent insists and uses scare tactics to get you, the borrower, to sign everything in
about 10 minutes without letting you to read the NOTE and Mortgage Lien Contract and forces
you to sign.. The law states that the closing Agent must give both the borrower and seller
three (3) days to read the NOTE and Mortgage Lien Contract before signing.. The law also
states that you have a 3 day right of recession period including the date of signing, that you,
the borrower, can back out of or resend the Purchase without loss of any FRN Money, but no
one discloses this to you… NONDISCLOSURE = NOTARY AND BANK FRAUD..
So how come you still have to pay them anything? Good question. Guess what else a draft is?
A draft is a “security”.. A security, of course, is something the bank can write to their books as
an asset and turn around and sell or assign to make money with.. So, effectively what they’re
really doing is taking your asset, actual cash value consideration credit signature and trading
on it, monetizing it, and selling it off in Securitization to thousands of world investors after the
conversion..
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They’re tricking you into believing you’re the DEBTOR when in fact you’re actually the Creditor
that gave them the first lawful money loan. Works great for them, and you end up giving them
both the house and paying a note for 30 years plus the interest on it, that was totally
unnecessary and this process was never disclosed to you.
There are Federal laws that state this about non-disclosure. You just made a deposit when
you handed them your signed Mortgage Promissory NOTE and Mortgage Lien Contract
Security DOCUMENT. They wrote it to their books, and their books show that the note is a
liability, not just an asset, because it’s owned back to you since they are both YOUR PROPERTY
due to the bank, Mortgage Company, or Pretender Lender not signing or accepting your
MORTGAGE.. If they did sign your Document, it would definitely show their fraud of not
loaning you anything.. They refer to this as double entry book keeping under GAAP, and only
banks have laws protecting them which allow them to legally, NOT LAWFULLY, under
STATUTES to do this to you under the TRADING WITH THE ENEMY ACT of 1933 in the UNITED
STATE Bankruptcy..
But the Non-Disclosure is the answer.. Do banks disclose these sorts of things when they give
their so-called loans?? No, of course they don’t.. That means there was no meeting of the
minds or consideration from the bank, Mortgage Company, or Pretender Lender and YOU, the
BORROWER/DEBTOR.. Without a meeting of the minds of both parties, do we have a valid
bilateral contract?? The answer is NO!!
If you know that, the contract you’ve been paying on for the past “X” number of years is
actually null and void from the beginning for fraud.. Don’t forget fraud vitiates all contracts
null and void.. It even vitiates COURT judgments and has no expiration date..
How can you possibly turn the tables and get the bank to admit on public record that they
actually defrauded you and never lent you anything?? In my written client instructions, there
are many scenarios that have and can do just that.. If you can do that successfully with
presenting it correctly to the Judge and Court, you know what that means.. That means you
can get your property free and clear, no bank loan, NO DEBT.. That’s the answer to our first
question.. How do we protect our real estate holdings?? That’s easy.. Eliminate the bank’s
claim and it’s all free and clear to you.. You can utilize our legally processed CAP Security to do
this and our written instructions to do this in your court hearing.. You only need to follow my
instructions to own your home free and clear..
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You could actually at that point sell your paid in full property for half off and still have a
windfall profit, couldn’t you?? If you wanted to, that’s better than giving it to the bank that
doesn’t really own it.. Don’t you agree??
Again, how are you the “Creditor” in every loan transaction?? The truth is the bank doesn’t
have any money to lend.. They lend you “ledger digit numbered credit money” printed by the
Federal Reserve half of the Treasury in the form of fiat FRNs and do not even give the FRNs to
you.. They have to.. The truth is Federal Reserve NOTES aren’t really money, and Congress has
admitted to it..
The truth is that since there is no real money, in circulation you have been using a substitute
for money, what passes as money, and what you perceive and believe as money..
What passes as money?? Perpetual “Debt Security Instruments” do.. That’s what Federal
Reserve NOTE Commercial Paper Dollars are. They’re perpetual debt instruments and so are
the Mortgage NOTE, Mortgage Lien Contract Security and Credit Application Securities..
Legal Debt is a negative.. Lawful Money COINS are a positive.. What can we use this
information for??
Here’s what we recommend.. You’re actually the Creditor, not only in every loan transaction,
because they’re taking your note or credit application Security, monetizing and securitizing it
since 1994, and selling it into a TRUST and then assigning their interest to a Manaager or
Servicer to collect the money for the face amount of the Note, but you are also the Creditor of
the United States which went into bankruptcy in 1933, because you are paying off the
NATIONAL DEBT.. So use U.S. Minted COINS money to pay off your debts and the STATE has no
equity in your property..
You can trade your fiat FRNs dollar for dollar at Bank of America for dollar COINS, to actually
PAY OFF your debts via DISCHARGING your debts, which is lawful money to get out of being a
14th Amendment CITIZEN with other steps to walk outside the Government and Federal
Reserve Central Bank Debt Matrix.. All you need to do is every time you buy something, be
sure to use 30 pieces of the Bank of America coins that are Silver or Gold Coins
representations; thus, LAWFUL MONEY..
You, in fact are the Creditor, because your wealth, your credit, your value, your consideration,
and your signature money is backing up the UNITED STATES currency.. All of these are in your
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STRAWMAN’s birth certificate and SSN that were monetized by the Government to create an
instrument to back that currency.. YOU are the GOLD and SILVER, you are the Creditor.. The
bank, Mortgage Company, and Pretender Lender are the DEBTORS that you loan your money
to..
The number on every Federal Reserve International Promissory Note represents your bond as
collateral to the United States Corporation. This number starts with the letters “A” through
“N” and followed by eight (8) digits or numbers with maybe another letter or two at the end
showing your indebtedness to the United States Corporation. It shows every debt slave, YOU..
Remember YOU are the human CITIZEN PERSON collateral for all currency.. You are tricked
into a mortgage contract, where you end up paying someone else thousands of dollars of fiat
FRN Money for a note for 30 years (a Bank), who used YOUR account and Asset to fund YOUR
own contract.. How could you possibly owe anything??
You are essentially paying yourself.. But they conducting the contract security process tricked
you into paying the bank instead.. They sell off this asset, several times, and never disclosed
any of this to you.. How can you take advantage of this??
Actually, it’s pretty simple. What you want to do is use standard operating procedure for
getting to the truth.. Why is that so important?? Because today everything is done “in
commerce”, that means that everything is determined by contract or agreement.. This
includes government bills, the BAR courts, and in the business world.. The best way to get the
contracts operating in your favor, instead of against you, is to prove up funds based on the fact
that you’re the Creditor of the United States..
Once you get this inside your head, you will never be the same and a whole new world will
open up to you.. You will experience a life of financial control and independence as a Creditor
vs. financial dependence as a lifetime Debtor.
That effectively means that every single time you write a Legally State Licensed DG Processed
CAP Security NOTE instrument from Cancel1Mortgage.info, it becomes an obligation of the
United States to pay you.
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In terms of proving up your funds, that’s simple. There’s nothing to prevent you from writing
up a $300,000, $500,000, or up to 10 million Security Dollars (correctly structured and
processed by DG PROCESSING ENTERPRISE) CAP Security NOTE and handing it over to the
bank, saying “here’s my NOTE Security to hold as collateral”.
People do that every day, in fact, don’t the banks monetize those notes and collect their ill-
gotten gains and cut you out?? YES THEY DO!! What instead you go ahead and present to
them a prove-up of funds for all of what you think you owe whether it’s one, two, three, four
or a dozen mortgage companies, on a dozen mortgage loans or Millions of FRN dollars??
Of course the way you do this is through an instrument such as a CAP Security note. The
prove-up of funds is the exciting part, because if you turn that over to the bank directly, we
already know from experience that most banks will steal your note from you.. That’s why you
must use an Escrow agent..
The escrow agent will contact the bank and say,” I have the funds, where is the original note
and other certain documents indicating that you, the bank, Mortgage Company, or Pretender
Lender actually gave you money and a loan” (remember they did not give you any money)??
Have they disclosed what they were doing with your NOTE??
The problem is we already know that they bundled the NOTE and Mortgage Lien Contract
Security up with thousands of other MORTGAGES and securitized it and have sold it off so they
can’t prove up the NOTE or loan.. We have all heard the phrase “Possession is nine-tenths of
the law”.. You’re in possession of your private and personal property or Real Estate.. Your
name is on the title.. What’s the other tenth??
The other tenth is attachment, that’s the original Blue Inked Signed NOTE and Mortgage Lien
Contract Security they can’t produce.. Why?? Because the MORTGAGE had to be destroyed
under SEC Rules; otherwise, it would be the criminal action of “DOUBKE DIPPING” and
taxable.. If your escrow agent is holding your promissory note for however many millions are
due on however many contracts and he lets the bank know that it’s time to produce the note
you can actually slam-dunk the bank, catch them in their fraud and use that to turn the tables
on them and keep your property.
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Fight Foreclosure: Make Them Produce the Original blue inked signed Promissory Note and
Mortgage Lien Contract Security, NOT a recorded copy, because they always record a COPY as
the original in the County Records!!
I have proof of this in one of my Real Estate recordings after I supposedly received the
Originals thru a Court where the Judge even fraudulently signed it as the original based on the
Bank Attorney’s saying that it was the original.. Even though the copy that was passed off by
the bank and Attorney as the Original Blue Inked NOTE and Mortgage Lien Contract Security,
is on LEGAL PAPER, the fonts are not the original 14 type Times Print.. The print and margins
are reduced which shows that it is NOT the Original.. Also it is copied in BLACK Ink.. As a
Realtor and have seen the Bank Written instructions to the Notary Closing Agent that states,
“all documents must be singed in BLUE INK..” AND the Notary Closing Agent always hand out
blue ink writing pens for you to sign with as a seller or borrower..
Plan A: Using the “produce the NOTE” strategy is something all homeowners facing
foreclosure can do. Take your copy of the Mortgage NOTE and Mortgage Lien Contract
Security you received at your closing and compare them side by side and you will see that the
foreclosing Attorney will bring a COUNTERFEIT COPY to the Court and present the MORTGAGE
as the original.. Be sure to point this out to the Judge and ask for a DISMISSAL WITH
PREJUDICE for the Bank’s FRAUD upon the Court if you are in foreclosure!!
If you believe you’ve been treated unfairly, fight back.. Special note: In some states, a
bank, Mortgage Company, or Pretender Lender can foreclose on your home without going to
court.. These are called non-judicial foreclosure states.. You can still use the “Produce the
Note” strategy in these states, but it takes a few more steps on your part..
Steps To Follow:
WHO OWNS THE NOTE? Your goal is to make certain the institution suing you is, in fact, the
owner of the note (Securitization Audit) helps, but not all Attorney Judges believe this without
you producing an Expert Witness with your Securitization Audit to testify as an expert witness
at the hearing or Trial By Jury.. There is only one original note for your mortgage that has your
blue inked signed signature on it per the bank, Mortgage Company, or Pretender Lenders
written closing instructions.. These originals are the only documents that proves if you actually
owe the claimed debt..
Page 13 of 36
During the lending boom, most mortgages were flipped and sold into a TRUST; to another
lender or servicer; and after conversion into stock or bond certificates, sliced up sold to
investors or Groups of investors all over the world as securitized packages on Wall Street..
In the rush to turn these over as fast as possible to make the most money, many of the new
pretender lenders and the OLD PRETENDER LENDERS did not get the proper paperwork to
show they own the note and mortgage.
This is the key to the produce the note strategy. Now, many servicers and TRUSTS, not the
original bank, Mortgage Company, or Pretender Lender, are illegally moving to foreclose on
homeowners, resulting in part from problems they created, and don’t have the proper
paperwork or originals to prove they have a right to foreclose.. Only the original Lender has
the right to foreclose and only with the ORIGINALS!!
If you don’t challenge your lender, the court will simply allow the foreclosure to proceed.. It’s
important to hold Banks, Mortgage Companies, Pretender Lenders, Servicers, and TRUSTS
accountable for their carelessness..
Your HOME is the biggest asset in your life.. It’s just a piece of paper to them, although it is
their Asset or MONEY, and one they likely either lost or destroyed before they got into the
TRUST CUSTODIAN’s hands.. When you get a copy of the foreclosure suit, many lenders now
automatically include a count, motion, or notice to re-establish the note.. Surely, they could
not lose all that money, could they??
It often reads like this: “...the Mortgage note has either been lost or destroyed and the
Plaintiff is unable to state the manner in which this occurred.” Of course, they have been
destroyed under SEC rules and this is why the Banks, Mortgage Companies, Pretender Lenders,
Servicers, and TRUSTS do not have the originals.. In other words, they are admitting they don’t
have the note or security that proves they DO NOT have a right, jurisdiction, authority, or
standing to foreclose..
If the lender is allowed to proceed without that proof, there is a possibility another institution,
which may have bought your note along the way, will also try to collect the same debt from
you again.. This has happen more than once..
Page 14 of 36
A Tennessee borrower had precisely that happen to her.. Her lender, Ameriquest, foreclosed
on her in July of 2007.. About three months later, another bank sent her a default notice for
the mortgage on the house she just lost.. She called to find out what was going on.. After being
transferred from place to place and left on hold for lengthy periods of time, no one could
explain what happened.. They said they would get back to her, but never did.. Now, she faced
the risk of having her credit continually damaged for a debt she no longer owed thru the NOTE
only.. FIGHT FOR
FAIRNESS: Despite all the hype about Banks, Mortgage Companies, Pretender Lenders,
Servicers, and TRUSTS’ wanting to help homeowners avoid foreclosure, most borrowers know
that’s not the reality..
Too many homeowners have experienced lender resistance to their efforts to work out a
payment structure to keep them in their homes.. Many lenders bear responsibility for these
defaults, because they put borrowers into unfair loans using deceptive, hard-sell practices, and
then made the problem worse with predatory servicing..
Most homeowners just want these Banks, Mortgage Companies, Pretender Lenders, Servicers,
and TRUSTS to give them reasonable terms on their mortgages, many of which were predatory
to begin with.. With the help of a very few Attorney Judges who see through these predatory
practices, lenders will feel the pressure to work with borrowers to keep them in their homes..
Don’t forget lenders made incredible amounts of money by using irresponsible practices to
issue and service these loans.. That greed led to the foreclosure crisis we’re still in today..
Allowing MERS, Pretender Lenders, TRUSTS, or Servicers who do not own or hold the original
Mortgage Promissory Note to continue foreclosing on home after home, destroying our
neighborhoods and our economy hurts us all..
So, make it hard for your Banks, Mortgage Companies, Pretender Lenders, Servicers, and
TRUSTS debt collector to take your home.. Make them produce the original Blue Inked Signed
NOTE and Mortgage Lien Contract Security!!
MONEY IS ARTIFICIAL
“The most important thing to understand about money is that money is artificial---that is to
say, that money is entirely a man-made creation and FRNs are Commercial CORPORATION
Page 15 of 36
Made Creations to represent money.. It isn’t an element of nature (such as gold or silver).. It is
simply a creation of civilized man and now COPRORATION PERSONS: It always has been and it
always will be..”
It is also important to understand that all “artificial” money, better known as “Bank Credit” or
“Commercial Paper”, is created by the commercial banks, first in the form of “checking
account”, “deposit credits”— either as bank expenditures, bank loans, bank deposits, or bank
investment monies—and most Bank Credit money remains and circulates in that *deposit
credits* form by means of checks and Promissory Notes – until some is (temporarily)
converted into physical fiat cash currency FRN NOTES..
The Treasury’s Engraving and Printing Bureau tailor-prints the Federal Reserve International
Promissory NOTES fiat FRN cash currency for the 12 Federal Reserve banks at the cost of
printing, 1.9 cents per note. The UNITED STATES TREASURT DEOPARTMENT was closed in 1929
when it became a Private Federal Reserve Treasury.. The Federal Reserve banks then
distribute the cash currency amongst the commercial banks by charging it to their (Fed
provided) reserve accounts that the UNITED SATTESCORPORATE MUNICIPAL GOVERNMENT
Borrows and must pay back with interest.. This is why a Corporate NATIONAL DEBT that you,
“PERSONS, U.S. CITIZENS, DEBT SLAVES” are paying thru Income Taxes and other taxes..
The banks then distribute the cash currency amongst the general commerce and public
illegally and unlawful, by exchanging their obtained fiat FRN cash currency for the public’s
checking or savings account “deposit credits”..
In other words, the general public gets its fiat FRN cash currency from banks, or from someone
who got it from some bank by having it charged, either to his checking or savings account who
received it from the FEDERAL RESERVE Board of Directors, who received it from the FEDERAL
RESERVE controlled Treasury paper printing presses, who received it from YOU, the Creditor
with your CASH Value Consideration Signature MONEY LOAN to the bank; thus, creating
Money out of thin air.. On the other hand, Treasury Minted COINS are the only lawful money..
Quoting Sir Josiah Stamp at the time he was president of the Bank of England and president of
the English Railway System. His directorates filled several pages of WHO’S WHO. In the late
1920s, in an informal talk to about 150 history, economics and social science professors, at the
University of Texas Josiah Stamp explained the following: “Banking was conceived in iniquity
Page 16 of 36
and born in sin... The bankers own the world. Take it away from them, but leave them the
power to create money and control credit, with a flick of the pen they will create enough
money to buy it back again... Take this power away from bankers and all great fortunes like
mine (he was the second richest man in Great Britain) will disappear, and they ought to
disappear, for this world would then be a happier and better world to live in. My sons
should not object. They are well educated, and should be willing to take their places in the
business world and forge their own fortunes... But, If you want to continue to be slaves of
bankers and pay the cost of your own enslavement, then let the bankers continue to create
money and control credit... However as long as governments will legalize such things, a man
is foolish not to be a banker.”
From: LEGALIZED CRIME OF BANKING By: S.W. Adams, Money Analyst Banks Lose to
Deadbeat Homeowners as Loans Sold in Bonds Vanish By Bob Ivry 102 Feb. 22 (Bloomberg) --
Joe Lents hasn't made a payment on his $1.5 million mortgage since 2002. That's when
Washington Mutual Inc. first tried to foreclose on his home in Boca Raton, Florida. The Seattle
based lender failed to prove that it owned Lents' mortgage note and dropped attempts to take
his house. Subsequent efforts to foreclose have stalled because no one has produced the
paperwork. ̏
If you're going to take my house away from me, you better own the note," said Lents, 63, the
former chief executive officer of a now-defunct voice recognition software company..
Judges in at least five states have stopped foreclosure proceedings because the banks that
pool mortgages into securities and the companies that collect monthly payments haven't been
able to prove they own the mortgages..
The confusion is another headache for U.S. Treasury Secretary Henry Paulson as he revises
rules for packaging mortgages into securities.. ̏I think it's going to become pretty hairy," said
Josh Rosner, managing director at the New York- based investment research firm Graham
Fisher & Co. R
̏ egulators appear to have ignored this, given the size and scope of the problem.."
More than $2.1 trillion, or 19 percent, of outstanding mortgages have been bundled into
securities by private banks, according to Inside Mortgage Finance, a Bethesda, Maryland-
based industry newsletter..
Those loans may be sold several times before they land in a security.. Mortgage servicers, who
collect monthly payments and distribute them to securities investors, can buy and sell the
home loans many times..
Page 17 of 36
Housing Boom
Each time the mortgages change hands, the sellers are required to sign over the mortgage
notes to the buyers.. In the rush to originate more loans during the U.S. mortgage boom, from
2003 to 2006, that assignment of ownership wasn't always properly completed, said Alan
White, assistant professor at Valparaiso University School of Law in Valparaiso,
Indiana.. ̏Loans were mass produced and short cuts were taken," White said.. ̏A lot of the
paperwork is done in the name of the original lender and a lot of the original lenders aren't
around anymore.. “More than 100 mortgage companies stopped making loans, closed or
were sold a few years ago, according to Bloomberg data.
The foreclosure rate, at 1.69 percent of all U.S. homeowners, is the highest since the Mortgage
Bankers Association began tracking it in 1993 and securitization in 1994.. The foreclosure rate
for subprime borrowers, who have bad or incomplete credit and whose mortgages typically
are securitized by private banks rather than government-sponsored entities Fannie Mae and
Freddie Mac, is at a four-year high, according to the mortgage bankers..
750,000 Homeowners More than 1.5 million homeowners will enter the foreclosure process
this year alone, said Rick Sharga, executive vice president for marketing at RealtyTrac Inc., the
Irvine, California-based seller of foreclosure information.. About half of them, 750,000, will
have their homes repossessed, Sharga said.. 11 Borrower advocates, including Ohio Attorney
General Marc Dann, have seized upon the issue of missing mortgage notes as a way to stem
foreclosures..
“The best thing to do is to keep people in their homes and for everybody to take steps
necessary to make that happen”, said Chris Geidner, an attorney in Dann's office.. “These
trusts are purchasing these notes, and before they even get the paperwork, they foreclose
on people. They become foreclosure machines.”
Lost-Note Affidavits
When the mortgage servicers and securitizing banks that act as trustees of the securities fail to
present proof that they own a mortgage, they sometimes file what's called a lost-note
affidavit, said April Charney, a lawyer at Jacksonville Area Legal Aid in Florida.. Nobody knows
how widespread the use of lost-note affidavits are, Charney said..
Page 18 of 36
She's had foreclosure proceedings for 300 clients dismissed or postponed in the past year,
with about 80 percent of them involving lost-note affidavits.. She said. ̏They raise the issue of
whether the trusts own the loans at all," Charney said.. ̏Lost-note affidavits are pattern and
practice in the industry.. They are not exceptions.. They are the rule.. " State laws generally
make it difficult to foreclose because they favor the homeowner, said Stuart Saft, a real estate
lawyer and partner at the New York firm Dewey & LeBoeufLLP. ̏
All these loan documents are being sent to the inside of a mountain in the middle of America
and not being checked very carefully," Saft said.. ̏The lenders can't find the paper.. We're
dealing with a lot of paper produced in a mortgage closing.. " `Waste of Time' Requiring banks
to produce the paperwork at a foreclosure hearing is a nuisance, said Jeffrey Naimon, a
partner in the Washington office of Buckley Kolar LLP.. ̏It's a gigantic waste of time," Naimon
said.. ̏The mortgage may have transferred five, six, eight times.. It's possible that you don't
have all the pieces of paper, but it was enough to convince the next guy in the chain.. There's
no true controversy over whether the owner owns the loan.."
Some Judges are becoming increasingly impatient with plaintiffs who produce no more proof
of ownership than a lost-note affidavit or a copy of the note, said Michael Doan, an attorney
at Doan Law Firm LLP in Carlsbad, California.. ̏Things are heating up," Doan said..
In Ohio, where RealtyTrac reported an 88 percent jump in foreclosures last year, Dann, the
attorney general, is now arguing 40 foreclosure cases that challenge ownership of mortgage
notes, according to his office.. `Cavalier Approach' U.S. District Judge David D. Dowd Jr. in
Ohio's northern district chastised Deutsche Bank National Trust Co. and Argent Mortgage
Securities Inc. in October for what he called their ̏cavalier approach" and ̏take my word for it"
attitude toward proving ownership of the mortgage note in a foreclosure case.. 2 12 John
Gallagher, a spokesman for Frankfurt-based Deutsche Bank AG, said the bank had no
comment. .
Similar cases were dismissed during the past year by judges in California, Massachusetts,
Kansas and New York.. ̏Judges are human beings," said Kenneth M. Lapine, a partner at the
Cleveland law firm Roetzel & Andress LPA.. ̏They no doubt feel the little guy needs all the help
he can get against the impersonal, out of town, mega-investment banking company.."
Page 19 of 36
Warning Plaintiffs U.S. Bankruptcy Judge Samuel L. Bufford in Los Angeles issued a notice a few
years ago warning plaintiffs in foreclosure cases to bring the mortgage notes to court and not
submit copies.. ̏This requirement will apply because developments in the secondary market
for mortgages and other security interests cause the court to lack confidence that presenting a
copy of a promissory note is sufficient to show that movant has a right to enforce the note or
that it qualifies as a real party in interest," the notice said..
Quick foreclosures benefit communities, because properties in default lose value and
homeowners in financial distress don't maintain their houses or pay real estate taxes, said Saft
of Dewey & Leboeuf.. Painted as the Enemy “When banks originally made the loans they used
people's money from pension funds and savings accounts and they should be allowed to
foreclose the loan as quickly as possible before the property depreciates in value any more,”
Saft said..
“The mortgage industry has been painted as the enemy when all they did was make loans to
enable people to buy homes.. Now there's less money available for new borrowers to buy
homes and that's what's causing the value of homes to go down.. ” Lents is former CEO of
Investco Inc., a Boca Raton, Florida-based developer of voice recognition software.. In 2002,
the U.S. Securities and Exchange Commission sanctioned Lents and others for stock
manipulation, according to the SEC Web site..
He lost his job, was fined and his assets were frozen.. That's the reason he couldn't pay his
mortgage, he said.. “If the homeowner doesn't object to the lost-note affidavit, the judge
rubber-stamps it,” Lents said. “Is it oversight, or are they trying to get around the law??”
Washington Mutual spokeswoman Geri Ann Baptista said the bank had no comment..
Looking for Loopholes “I can't believe the handling of notes is worse than it was five years
ago”, said Guy Cecala, publisher of Inside Mortgage Finance.. “What we didn't have back then
were armies of attorneys out there looking for loopholes. People are challenging foreclosures
and courts are paying a lot more attention to foreclosures than they ever did before.. ”2
American Home Mortgage Investment Corp., the Melville, New York-based lender that filed for
bankruptcy in August a few years ago, said it was paying $45,000 a month to store loan
paperwork and petitioned U.S. Bankruptcy Judge Christopher Sontchi in Wilmington,
Delaware, for the right to toss it all.. Sontchi ruled that American Home Mortgage could
charge banks from $3 to $13 a file to retrieve documents.
Page 20 of 36
MERS, Mortgage Electronic Registration Systems
The home-loan industry has had a central electronic database since 1997 to track mortgages
as they are bought and sold.. It's run by Mortgage Electronic Registration System, or MERS, a
subsidiary of Vienna, Virginia based MERSCORP Inc., which is owned by mortgage companies
and Banks.. No Tracking Mechanism MERS has 3,246 member companies and about half of
outstanding mortgages are registered with the company, including loans purchased by
government-sponsored entities Fannie Mae, Freddie Mac and Ginny Mae, said R.K. Arnold, the
company's CEO.. For about half of U.S. mortgages, there is no tracking mechanism.. MERS
does not keep any original mortgage Notes or contract securities due to the originals to be
destroyed through securitization..
MERS rules don't allow members to submit lost-note affidavits in place of mortgage notes,
Arnold said.. “A lot of companies say the note is lost when it's highly unlikely the note is lost,”
Arnold said.. “Saying a note is lost when it's not really lost is wrong.”
Lents's attorney, Jane Raskin of Raskin & Raskin in Miami, said she has no idea who owns
Lents's mortgage note.. “Something is wrong if you start from what I think is the reasonable
assumption that these banks are not losing all of these notes,” Raskin said.. “As an officer of
the court, I find it troubling that they've been going in and saying we lost the note, and
because nobody is challenging it, the foreclosures are pushed through the system..”
To contact the reporter on this story: Bob Ivry in New York at [email protected].
LANDMARK DECISION PROMISES MASSIVE RELIEF FOR HOMEOWNERS AND TROUBLE FOR
BANKS By Ellen Brown, September 19th, 2009 http://www.webofdebt.com/articles/mers.php..
A landmark ruling in a recent Kansas Supreme Court case may have given millions of distressed
homeowners the legal wedge they need to avoid foreclosure. .
In Landmark National Bank v. Kesler, 2009 Kan. LEXIS 834, the Kansas Supreme Court held
that a nominee company called MERS has no right or standing to bring an action for
foreclosure.. MERS is an acronym for Mortgage Electronic Registration Systems, a private
company that registers mortgages electronically and tracks changes in ownership.. The
significance of the holding is that if MERS has no standing to foreclose, then nobody has
standing to foreclose – on 60 million mortgages..
That is the number of American mortgages currently reported to be held by MERS.. Over half
of all new U.S. residential mortgage loans are registered with MERS and recorded in its name..
Page 21 of 36
Holdings of the Kansas Supreme Court are not binding on the rest of the country, but they are
dicta of which other courts take note; and the reasoning behind the decision is sound..
Eliminating the “Straw Man” Shielding Lenders and Investors from Liability, The development
of “electronic” mortgages managed by MERS went hand in hand with the “securitization” of
mortgage loans – chopping them into pieces and selling them off to investors..
In the heyday of mortgage securitizations, before investors got wise to their risks, lenders
would slice up loans, bundle them into “financial products” called “collateralized debt
obligations” (CDOs), ostensibly insure them against default by wrapping them in derivatives
called “credit default swaps,” and sell them to pension funds, municipal funds, foreign
investment funds, and so forth.. Banks still do this securitization process..
There were many secured parties, and the pieces kept changing hands; but MERS supposedly
kept track of all these changes electronically.. MERS would register and record mortgage loans
in its name, and it would bring foreclosure actions in its name.. MERS not only facilitated the
rapid turnover of mortgages and mortgage- backed securities, but it has served as a sort of
“corporate shield” that protects investors from claims by borrowers concerning predatory
lending practices..
California attorney Timothy McCandless describes the problem like this: “[MERS] has reduced
transparency in the mortgage market in two ways.. First, consumers and their counsel can
no longer turn to the public recording systems to learn the identity of the holder of their
note.. Today, county recording systems are increasingly full of one meaningless name,
MERS, repeated over and over again.. But more importantly, all across the country, MERS
now brings foreclosure proceedings in its own name – even though it is not the financial
party in interest..
This is problematic because MERS is not prepared for or equipped to provide responses to
consumers’ discovery requests with respect to predatory lending claims and defenses..
In effect, the securitization conduit attempts to use a faceless and seemingly innocent proxy
with no knowledge of predatory origination or servicing behavior to do the dirty work of
seizing the consumer’s home. . . .
So imposing is this opaque corporate wall, that in a “vast” number of foreclosures, MERS
actually succeeds in foreclosing without producing the original note – the legal sine qua non of
Page 22 of 36
foreclosure – much less documentation that could support predatory lending defenses..” The
real parties in interest concealed behind MERS have been made so faceless; however, that
there is now no party with standing to foreclose..
The Kansas Supreme Court stated that MERS’ relationship “is more akin to that of a straw
man than to a party possessing all the rights given a buyer..” The court opined: “By statute,
assignment of the mortgage carries with it the assignment of the debt. ... Indeed, in the
event that a mortgage loan somehow separates interests of the note and the deed of trust,
with the deed of trust lying with some independent entity, the mortgage may become
unenforceable..
The practical effect of splitting the deed of trust from the promissory note is to make it
impossible for the holder of the note to foreclose, unless the holder of the deed of trust is
the agent of the holder of the note.. Without
the agency relationship, the
person holding only the note lacks the power to foreclose in the
event of default.. The person holding only the deed of trust will
never experience default because only the holder of the note is
entitled to payment of the underlying obligation..
The mortgage loan becomes ineffectual when the note holder did not also hold the deed of
trust..” [Citations omitted; emphasis added.] MERS, as straw man, lacks standing to foreclose,
but so does original lender, although it was a signatory to the deal.
The lender lacks standing because title had to pass to the secured parties for the
arrangement to legally qualify as a “security.”
***The lender has been paid in full and has no further legal interest in the claim.. Only the
securities holders have skin in the game; but they have no standing to foreclose, because
they were not signatories to the original agreement..***
They cannot satisfy the basic requirement of contract law that a plaintiff suing on a written
contract must produce a signed contract proving he is entitled to relief..
Page 23 of 36
The Potential Impact of 60 Million Fatally Flawed Mortgages: The banks arranging these
mortgage-backed securities have typically served as trustees for the investors.. When the
trustees could not present timely written proof of ownership entitling them to foreclose, they
would in the past file “lost-note affidavits” with the court; and Attorney Judges usually let
these foreclosures proceed without objection..
But in October 2007, an intrepid federal judge in Cleveland put a halt to the practice.. U.S.
District Court Judge Christopher Boyko ruled that Deutsche Bank had not filed the proper
paperwork to establish its right to foreclose on fourteen homes it was suing to repossess as
trustee..
Judges in many other states then came out with similar rulings. Following the Boyko decision,
in December 2007, attorney Sean Olender suggested in an article in The San Francisco
Chronicle that the real reason for the bailout schemes being proposed by then- Treasury
Secretary Henry Paulson was not to keep strapped borrowers in their homes so much as to
stave off a spate of lawsuits against the banks..
Olender wrote: “The sole goal of the [bailout schemes] is to prevent owners of mortgage-
backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy
back worthless mortgage securities at face value – right now almost 10 times their market
worth.
The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates..
The real problem is the contractual ability of investors in mortgage bonds to require banks to
buy back the loans at face value if there was fraud in the origination process.. “. . .
The catastrophic consequences of bond investors forcing originators to buy back loans at face
value are beyond the current media discussion.. The loans at issue dwarf the capital available
at the largest U.S. banks combined, and investor lawsuits would raise stunning liability
sufficient to cause even the largest U.S. banks to fail, resulting in massive taxpayer-funded
bailouts of Fannie and Freddie, and even FDIC.... “What would be prudent and logical is for the
banks that sold this toxic waste to buy it back and for a lot of people to go to prison.. If they
knew about the fraud, they should have to buy the bonds back..”
Needless to say; however, the banks did not buy back their toxic waste, and no bank officials
went to jail.. As Olender predicted, in the fall of 2008, massive taxpayer-funded bailouts of
Page 24 of 36
Fannie and Freddie were pushed through by Henry Paulson, whose former firm Goldman
Sachs was an active player in creating CDOs when he was at its helm as CEO..
Paulson also hastily engineered the $85 billion bailout of insurer American International Group
(AIG), a major counterparty to Goldmans’ massive holdings of CDOs.. The insolvency of AIG
was a huge crisis for Goldman, a principal beneficiary of the AIG bailout..
In a December 2007 New York Times article titled “The Long and Short of It at Goldman
Sachs,” Ben Stein wrote: “For decades now,. . . I have been receiving letters [warning] me
about the dangers of a secret government running the world.... [T]he closest I have recently
seen to such a world-running body would have to be a certain large investment bank, whose
alums are routinely Treasury secretaries, high advisers to presidents, and occasionally a
governor or United States senator.. ”The pirates seem to have captured the ship, and until
now there has been no one to stop them..
But 60 million mortgages with fatal defects in title could give aggrieved homeowners and
securities holders the crowbar they need to exert some serious leverage on Congress – serious
enough perhaps even to pry the legislature loose from the powerful banking lobbies that now
hold it in thrall..
Here Are Just A Few Case Law Successes Patton v. Diemer, 35 Ohio St. 3d 68; 518 N.E.2d 941;
1988).. A judgment rendered by a court lacking subject matter jurisdiction is void ab initio.
.Consequently, the authority to vacate a void judgment is not derived from Ohio R. Civ. P.
60(B), but rather constitutes an inherent power possessed by Ohio courts.. I see no evidence
to the contrary that this would apply to ALL courts.. “A party lacks standing to invoke the
jurisdiction of a court unless he has, in an individual or a representative capacity, some real
interest in the subject matter of the action..
Lebanon Correctional Institution v. Court of Common Pleas 35 Ohio St.2d 176 (1973).. “A
party lacks standing to invoke the jurisdiction of a court unless he has, in an individual or a
representative capacity, some real interest in the subject matter of an action..”
Wells Fargo Bank, v. Byrd, 178 Ohio App.3d 285, 2008-Ohio-4603, 897 N.E.2d 722 (2008). It
went on to hold, ”If plaintiff has offered no evidence that it owned the note and mortgage
when the complaint was filed, it would not be entitled to judgment as a matter of law..”
Page 25 of 36
(The following court case was unpublished and hidden from the public) Wells Fargo, Litton
Loan v. Farmer, 867 N.Y.S.2d 21(2008). “Wells Fargo does not own the mortgage loan...
Therefore, the... matter is dismissed with prejudice..”
(The following court case was unpublished and hidden from the public) Wells Fargo v. Reyes,
867 N.Y.S.2d 21(2008). Dismissed with prejudice, Fraud on Court & Sanctions. Wells Fargo
never owned the Mortgage..
(The following court case was unpublished and hidden from the public) Deutsche Bank v.
Peabody, 866 N.Y.S.2d 91(2008).. EquiFirst, when making the loan, violated Regulation Z of
the Federal Truth in Lending Act 15 USC § 1601 and the Fair Debt Collections Practices Act 15
USC § 1692; “intentionally created fraud in the factum” and withheld from plaintiff... “vital
information concerning said debt and all of the matrix involved in making the loan”..
(The following court case was unpublished and hidden from the public) Indymac Bank v. Boyd,
880 N.Y.S.2d 224(2009).. To establish a prima facie case in an action to foreclose a mortgage,
the plaintiff must establish the existence of the mortgage and the mortgage note.. It is the
law’s policy to allow only an aggrieved person to bring a lawsuit. . . A want of “standing to
sue,” in other words, is just another way of saying that this particular plaintiff is not involved in
a genuine controversy, and a simple syllogism takes us from there to a “jurisdictional”
dismissal:
(The following court case was unpublished and hidden from the public) Indymac Bank v.
Bethley, 880 N.Y.S.2d 873 (2009). The Court is concerned that there may be fraud on the part
of plaintiff or at least malfeasance Plaintiff INDYMAC (Deutsche) and must have “standing” to
bring this action.
(The following court case was unpublished and hidden from the public) Deutsche Bank
National Trust Co v.Torres, NY Slip Op 51471U (2009). That “the dead cannot be sued” is a
well established principle of the jurisprudence of this state plaintiff’s second cause of action
for declaratory relief is denied.. To be entitled to a default judgment, the movant must
establish, among other things, the existence of facts which give rise to viable claims against
the defaulting defendants.. “The doctrine of ultra vires is a most powerful weapon to keep
private corporations within their legitimate spheres and punish them for violations of their
corporate charters, and it probably is not invoked too often... Zinc Carbonate Co. v. First
National Bank, 103 Wis. 125, 79 NW 229 (1899). Also see: American Express Co. v. Citizens
State Bank, 181 Wis. 172, 194 NW 427 (1923)..
Page 26 of 36
The following court case was unpublished and hidden from the public) Wells Fargo v. Reyes,
867 N.Y.S.2d 21(2008).. Case dismissed with prejudice, fraud on the Court and Sanctions
because Wells Fargo never owned the Mortgage..
(The following court case was unpublished and hidden from the public) Wells Fargo, Litton
Loan v. Farmer, 867 N.Y.S.2d 21(2008).. Wells Fargo does not own the mortgage loan.
“Indeed, no more than (affidavits) is necessary to make the prima facie case.” United States v.
Kis, 658 F.2d, 526 (7thCir. 1981)..
(The following court case was unpublished and hidden from the public) Indymac Bank v.
Bethley, 880 N.Y.S.2d 873 (2009).. The Court is concerned that there may be fraud on the part
of plaintiff or at least malfeasance Plaintiff INDYMAC (Deutsche) and must have “standing” to
bring this action.. Lawyer responsible for false debt collection claim Fair Debt Collection
Practices Act, 15 USCS §§ 1692-1692, Heintzv. Jenkins, 514 U.S. 291; 115 S. Ct. 1489, 131 L.
Ed. 2d 395 (1995), and FDCPA Title 15 U.S.C. sub section 1692.. In determining whether the
plaintiffs come before this Court with clean hands, the primary factor to be considered is
whether the plaintiffs sought to mislead or deceive the other party, not whether that party
relied upon plaintiffs’ misrepresentations..
Stachnik v. Winkel, 394 Mich. 375, 387; 230 N.W.2d 529, 534 (1975).. “Indeed, no more than
(affidavits) is necessary to make the prima facie case..”
United States v. Kis, 658 F.2d, 526 (7th Cir. 1981). Cert Denied, 50 U.S. L.W. 2169; S. Ct. March
22, (1982). “Silence can only be equated with fraud where there is a legal or moral duty to
speak or when an inquiry left unanswered would be intentionally misleading..”
U.S. v. Tweel, 550 F.2d 297 (1977). “If any part of the consideration for a promise be illegal, or
if there are several considerations for an un-severable promise one of which is illegal, the
promise, whether written or oral, is wholly void, as it is impossible to say what part or which
one of the considerations induced the promise..”
Menominee River Co. v. Augustus Spies L & C Co., 147 Wis. 559 at p. 572; 132 NW 1118
(1912). .
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Federal Rule of Civil Procedure 1 7(a)(1) which requires that “[a]n action must be prosecuted
in the name of the real party in interest..” See also, In re Jacobson, 402 B.R. 359, 365-66
(Bankr. W.D. Wash. 2009); In re Hwang, 396 B.R. 757,766-67 (Bankr. C.D. Cal. 2008)..
Mortgage Electronic Registration Systems, Inc. v. Chong, 824 N.Y.S.2d 764 (2006). MERS did
not have standing as a real party in interest under the Rules to file the motion... The
declaration also failed to assert that MERS, FMC Capital LLC or Homecomings Financial, LLC
held the Note..
Landmark National Bank v. Kesler, 289 Kan. 528,216 P.3d 158 (2009). “Kan. Stat. Ann. § 60-
260(b) allows relief from a judgment based on mistake, inadvertence, surprise, or excusable
neglect; newly discovered evidence that could not have been timely discovered with due
diligence; fraud or misrepresentation; a void judgment; a judgment that has been satisfied,
released, discharged, or is no longer equitable; or any other reason justifying relief from the
operation of the judgment. The relationship that the registry had to the bank was more akin to
that of a straw man than to a party possessing all the rights given a buyer..” Also In September
of 2008, A California Judge ruling against MERS concluded, “There is no evidence before the
court as to who is the present owner of the Note.. The holder of the Note must join in the
motion..” LaSalle Bank v. Ahearn, 875 N.Y.S.2d 595 (2009). Dismissed with prejudice.
Lack Legitimate Issues: Where is the Note? by Prof, Judge Roy Bean from
http://www.quatloos.com/Q-Forum/viewtopic.php?f=37&t=3827 LEGITIMATE ISSUES The
legitimate problems faced by lenders and — to a lesser extent — borrowers include the
problems of missing notes and missing endorsements.. Some of you may find this article
interesting; it will be presented to the UCC Section of the American Bankruptcy Institute at the
Annual Meeting in DC in April..
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We are all familiar with the securitization process.. The steps, if not the process, is simple. A
borrower goes to a mortgage lender.. The lender finances the purchase of real estate.. The
borrower signs a note and mortgage or deed of trust.. The original lender sells the note and
assigns the mortgage to an entity that securitizes the note by combining the note with
hundreds or thousands of similar obligation to create a package of mortgage backed securities,
which are then sold to investors..
Unfortunately, unless you represent borrowers, the vast flow of notes into the maw of the
securitization industry meant that a lot of mistakes were made.. When the borrower defaults,
the party seeking to enforce the obligation and foreclose on the underlying collateral
sometimes cannot find the note..
A lawyer sophisticated in this area has speculated to one of the authors that perhaps a third of
the notes “securitized” have been lost or destroyed. . The cases we are going to look at reflect
the stark fact that the unnamed source’s speculation may be well- founded.. UCC SECTION 3-
309 If the issue were as simple as a missing note, UCC §3-309 would provide a simple solution..
A person entitled to enforce an instrument which has been lost, destroyed or stolen may
enforce the instrument.. If the court is concerned that some third party may show up and
attempt to enforce the instrument against the payee, it may order adequate protection..
But, and however, a person seeking to enforce a missing instrument must be a person entitled
to enforce the instrument, and that person must prove the instrument’s terms and that
person’s right to enforce the instrument.. § 3-309 (a)(1) & (b).
Enforcement of a note always requires that the person seeking to collect show that it is the
holder.. A holder is an entity that has acquired the note either as the original payor or
transfer by endorsement of order paper or physical possession of bearer paper..
These requirements are set out in Article 3 of the Uniform Commercial Code, which has been
adopted in every state, including Louisiana, and in the District of Columbia.. Even in
bankruptcy proceedings, State substantive law controls the rights of note and lien holders,
as the Supreme Court pointed out almost forty (40) years ago in United States v. Butner, 440
U.S. 48, 54-55 (1979).. However, as Judge Bufford has recently illustrated, in one of the cases
discussed below, in the bankruptcy and other federal courts, procedure is governed by the
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Federal Rules of Bankruptcy and Civil Procedure.. And, procedure may just have an impact on
the issue of “who,” because, if the holder is unknown, pleading and standing issues arise..
For the precise definition, see § 3-104(a) (“an unconditional promise or order to pay a fixed
amount of money, with or without interest... .”) The instrument may be either payable to
order or bearer or payable on demand or at a definite time, with or without interest..
Ordinary negotiable instruments include notes and drafts (a check is a draft drawn on a bank)..
See § 3- 104(e).. Negotiable paper is transferred from the original payor by negotiation. §3-
301..“Order paper” must be endorsed; bearer paper need only be delivered.. §3-305.
However, in either case, for the note to be enforced, the person who asserts the status of the
holder must be in possession of the instrument..
See UCC § 1-20 1 (20) and comments. The original and subsequent transferees are referred to
as holders.. Holders who take with no notice of defect or default are called “holders in due
course,” and take free of many defenses.. See § § 3- 3 05(b). The UCC says that a
payment to a party “entitled to enforce the instrument” is sufficient to
extinguish the obligation of the person obligated on the instrument..
Clearly, then, only a holder – a person in possession of a note endorsed to it or a holder of
bearer paper – may seek satisfaction or enforce rights in collateral such as real estate..
NOTE: Those of us who went through the bank and savings and loan collapse of the 1980’s are
familiar with these problems.. The FDIC/FSLIC/RTC sold millions of notes secured and
unsecured, in bulk transactions. Some notes could not be found and enforcement sometimes
became a problem.. Of course, sometimes we are forced to repeat history..
For a recent FDIC case, see Liberty Savings Bank v. Redus, 2009 WL 41857 (Ohio App. 8 Dist.),
January 8, 2009.. THE RULES Judge Bufford addressed the rules issue. See In re Hwang, 396
B.R. 757 ( Bankr. C. D. Cal. 2008).. First, there are the pleading problems that arise when the
holder of the note is unknown.. Typically, the issue will arise in a motion for relief from stay in
a bankruptcy proceeding.. According F.R.Civ. Pro. 17, “[a]n action must be prosecuted in the
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name of the real party in interest..” This rule is incorporated into the rules governing
bankruptcy procedure in several ways..
As Judge Bufford has pointed out, for example, in a motion for relief from stay, filed under
F.R.Bankr.Pro. 4001 is a contested matter, governed by F. R. Bankr. P. 9014, which makes F.R.
Bankr. Pro. 7017 applicable to such motions. F.R. Bankr. P. 7017 is, of course, a restatement of
F.R. Civ. P. 17. In re Hwang, 396 B.R. at 766..
The real party in interest in a federal action to enforce a note, whether in bankruptcy court or
federal district court, is the owner of a note. (In securitization transactions, this
would be the trustee for the “certificate holders..”)
When the actual holder of the note is unknown, it is impossible – not difficult but impossible –
to plead a cause of action in a federal court (unless the movant simply lies about the
ownership of the note)..
Unless the name of the actual note holder can be stated, the very pleadings are defective.
STANDING Often, the servicing agent for the loan will appear to enforce the note..
Assume that the servicing agent states that it is the authorized agent of the note holder, which
is “Trust Number 99..” The servicing agent is certainly a party in interest, since a party in
interest in a bankruptcy court is a very broad term or concept.. See, e.g., Greer v. O’Dell, 305
F.3d 1297, 1302-03 (11th Cir. 2002.).
However, the servicing agent may not have standing: “Federal Courts have only the power
authorized by Article III of the Constitutions and the statutes enacted by Congress pursuant
thereto.. ... [A] plaintiff must have Constitutional standing in order for a federal court to have
jurisdiction..” In re Foreclosure Cases, 521 F.Supp. 3d 650, 653 (S.D. Ohio, 2007) (citations
omitted)..
But, the servicing agent does not have standing, for only a person who is the holder of the
note has standing to enforce the note.. See, e.g., In re Hwang, 2008 WL 4899273 at 8.. The
servicing agent may have standing if acting as an agent for the holder, assuming that the agent
can both show agency status and that the principle is the holder.. See, e.g., In re Vargas, 396
B.R. 511 (Bankr. C.D. Cal. 2008) at 520.
This structure also possesses practical evidentiary problems where the party asserting a right
to foreclose must be able to show a default..
Once again, Judge Bufford has addressed this issue.. At In re Vargas, 396 B.R. at 5 17-19. Judge
Bufford made a finding that the witness called to testify as to debt and default was
incompetent.. All the witness could testify was that he had looked at the MERS computerized
records.. The witness was unable to satisfy the requirements of the Federal Rules of Evidence,
particularly Rule 803, as applied to computerized records in the Ninth Circuit. See id. at 5 17-
20..
The low level employee could really only testify that the MERS screen shot he reviewed
reflected a default.. That really is not much in the way of evidence, and not nearly enough to
get around the hearsay rule..
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In many if not almost all cases, the party seeking to exercise the rights of the creditor will be a
servicing company.. Servicing companies will be asserting the rights of their alleged principal,
the note holder, which is, again, often going to be a trustee for a securitization package..
The mortgage holder or beneficiary under the deed of trust will, again, very often be MERS..
Even before reaching the practical problem of debt and default, mentioned above, the moving
party must show that it holds the note or (1) that it is an agent of the holder and that (2) the
holder remains the holder.. In addition, the owner of the note, if different from the holder,
must join in the motion..
Some states, like Texas, have passed statutes that allow servicing companies to act in
foreclosure proceedings as a statutorily recognized agent of the noteholder.. See, e.g., Tex.
Prop. Code §51.0001. However, that statute refers to the servicer as the last entity to whom
the debtor has been instructed to make payments..
This status is certainly open to challenge.. The statute certainly provides nothing more than
prima facie evidence of the ability of the servicer to act.. If challenged, the servicing agent
must show that the last entity to communicate instructions to the debtor is still the holder
of the note.. See, e.g., HSBC Bank, N.A. v. Valentin, 2l N.Y. Misc. 3d 1123(A), 2008 WL
4764816 (Table) (N.Y. Sup.), Nov. 3, 2008..
In addition, such a statute does not control in federal court where Fed. R. Civ. P. 17 and 19
(and Fed. R. Bankr. P. 7017 and 7019) apply..
These cases are arranged by state, for no particular reason. Massachusetts In re Schwartz, 366
B.R.265 (Bankr. D. Mass. 2007) Schwartz concerns a Motion for Relief to pursue an eviction.
Movant asserted that the property had been foreclosed upon prior to the date of the
bankruptcy petition. The pro se debtor asserted that the Movant was required to show that it
had authority to conduct the sale. Movant, and “the party which appears to be the current
mortgagee...” provided documents for the court to review, but did not ask for an evidentiary
hearing. Judge Rosenthal sifted through the documents and found that the Movant and the
current mortgagee had failed to prove that the foreclosure was properly conducted.
Specifically, Judge Rosenthal found that there was no evidence of a proper assignment of the
mortgage prior to foreclosure. However, at footnote 5, Id. at 268, the Court also finds that
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there is no evidence that the note itself was assigned and no evidence as to who the current
holder might be. Nosek v. Ameriquest Mortgage Company (In re Nosek), 286 Br. 374 (Bankr D
Mass. 2008). Almost a year to the day after Schwartz was signed, Judge Rosenthal issued a
second opinion. This is an opinion on an order to show cause. Judge Rosenthal specifically
found that, although the note and mortgage involved in the case had been transferred from
the originator to another party within five days of closing, during the five years in which the
chapter 13 proceeding was pending, the note and mortgage and associated claims had been
prosecuted by Ameriquest which has represented itself to be the holder of the note and the
mortgage. Not until September of 2007 did Ameriquest notify the Court that it was merely the
servicer. In fact, only after the chapter 13 bankruptcy had been pending for about three years
was there even an assignment of the servicing rights. Id. at 378.
Because these misrepresentations were not simple mistakes: as the Court has noted on more
than one occasion, those parties who do not hold the note of mortgage do not service the
mortgage do not have standing to pursue motions for leave or other actions arising form the
mortgage obligation. Id at 380. As a result, the Court sanctioned the local law firm that had
been prosecuting the claim $25,000. It sanctioned a partner at that firm an additional $25,000.
Then the Court sanctioned the national law firm involved $100,000 and ultimately sanctioned
Wells Fargo $250,000. Id. at 382-3 86. In re Hayes, 393 B.R. 259 (Bankr. D. Mass. 2008).
Like Judge Rosenthal, Judge Feeney has attacked the problem of standing and authority head
on. She has also held that standing must be established before either a claim can be allowed
or a motion for relief be granted. Ohio In re Foreclosure Cases, 521 F.Supp. 2d (S.D. Ohio
2007). Perhaps the District Court’s orders in the foreclosure cases in Ohio have received the
most press of any of these opinions. Relying almost exclusively on standing, the Judge Rose
has determined that a foreclosing party must show standing. “[I]n a foreclosure action, the
plaintiff must show that it is the holder of the note and the mortgage at the time that the
complaint was filed.” Id. at 653. Judge Rose instructed the parties involved that the willful
failure of the movants to comply with the general orders of the Court would in the future
result in immediate dismissal of foreclosure actions. Deutsche Bank Nat’l Trust Co. v. Steele,
2008 WL 111227 (S.D. Ohio) January 8, 2008.
In Steele, Judge Abel followed the lead of Judge Rose and found that Deutsche Bank had filed
evidence in support of its motion for default judgment indicating that MERS was the mortgage
holder. There was not sufficient evidence to support the claim that Deutsche Bank was the
owner and holder of the note as of that date. Following In re Foreclosure Cases, 2007 WL
456586, the Court held that summary judgment would be denied “until such time as Deutsche
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Bank was able to offer evidence showing, by a preponderance of evidence, that it owned the
note and mortgage when the complaint was filed.” 2008 WL 111227 at 2. Deutsche Bank was
given twenty-one days to comply. Id. Illinois U.S. Bank, N.A. v. Cook, 2009 WL 35286 (N.D. Ill.
January 6, 2009). Not all federal district judges are as concerned with the issues surrounding
the transfer of notes and mortgages. Cook is a very pro lender case and, in an order granting a
motion for summary judgment, the Court found that Cook had shown no “countervailing
evidence to create a genuine issue of facts.” Id. at 3.
In fact, a review of the evidence submitted by U.S. Bank showed only that it was the alleged
trustee of the securitization pool. U.S. Bank relied exclusively on the “pooling and serving
agreement” to show that it was the holder of the note. Id. Under UCC Article 3, the evidence
presented in Cook was clearly insufficient. New York HSBC Bank USA, N.A. v. Valentin, 21 Misc.
3D 1124(A), 2008 WL 4764816 (Table) (N.Y. Sup.) November 3, 2008. In Valentin, the New York
court found that, even though given an opportunity to, HSBC did not show the ownership of
debt and mortgage.
The complaint was dismissed with prejudice and the “notice of pendency” against the
property was cancelled. Note that the Valentin case does not involve some sort of ambush.
The Court gave every HSBC every opportunity to cure the defects the Court perceived in the
pleadings. California In re Vargas, 396 B.R. 511 (Bankr. C.D. Cal. 2008) and In re Hwang, 396
B.R. 757 (Bankr. C.D. Cal. 2008)
These two opinions by Judge Bufford have been discussed above. Judge Bufford carefully
explores the related issues of standing and ownership under both federal and California law.
Texas In re Parsley, 384 B.R. 138 (Bankr. S.D. Tex. 2008) and In re Gilbreath, 395 B.R. 356
(Bankr. S.D. Tex. 2008) These two recent opinions by Judge Jeff Bohm are not really on point,
but illustrate another thread of cases running through the issues of motions for relief from
stay in bankruptcy court and the sloppiness of loan servicing agencies. Both of these cases
involve motions for relief that were not based upon fact but upon mistakes by servicing
agencies. Both opinions deal with the issue of sanctions and, put simply, both cases illustrate
that Judge Bohm (and perhaps other members of the bankruptcy bench in the Southern
District of Texas) are going to be very strict about motions for relief in consumer cases.
SUMMARY
The cases cited illustrate enormous problems in the loan servicing industry through
securitization.. These problems arise in the context of securitization and illustrate the difficulty
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of determining the name of the holder, the assignee of the mortgage, and the parties with
both the legal right under Article 3 and the standing under the Constitution to enforce notes,
whether in state court or federal court..
The Securitization Audit shows that the chain of title is broken and the Note and Mortgage/
Deed of Trust were separated against Federal Law that you can enter as evidence along with
the Administrative Process as you will find at www.1RealEstateHomes.com Court cases are
won by evidence..
Interestingly, with the exception of Judge Bufford and a few other judges, there has been less
than adequate focus upon the UCC title issues.. The next round of cases may and should focus
upon the title to debt instrument. The person seeking to enforce the note must show that: (1)
It is the holder of this note original by transfer, with all necessary rounds; (2) It had possession
of the note before it was lost; (3) If it can show that title to the note runs to it, but the original
is lost or destroyed, the holder must be prepared to post a bond; (4) If the person seeking to
enforce is an agent, it must show its agency status and that its principal is the holder of the
note (and meets the above requirements)..
Then, and only then, do the issues of evidence of debt and default and assignment of
mortgage rights become relevant.. If you would like to learn more on how to be MORTGAGE
and DEBT FREE, and pay off your debt with the LPN Security Note, check out our web site at
Cancel1Mortgage.info..
If you wish to become a Private Banker and receive a $500.00 discount for every preprocessed
PBNBA promissory note to pay off a debt, check out our Associate website at PBNBA.com..
DISCLAIMER ...... We function solely as an educational program.. Our services are designed to
provide accurate information in regard to the subject matter covered.. All information is
transmitted with the understanding that – We do not give legal advice – and we are not
licensed to do so.. If legal advice or other expert assistance is required, the services of a
competent professional should be sought.. Although every precaution has been taken in the
preparation of this service, the publisher and author assume no liability for errors and
omissions.. This service is published without warranty of any kind, either expressed or
implied.. Furthermore, neither the author nor the publisher shall be liable for any damages,
either directly or indirectly arising from the use or misuse of this service.. The legal
responsibility is yours and yours alone..
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