All across this country, millions of lawsuits are filed and included in the initial lawsuit is the claim that the promissory note sought to be enforced has been “lost”. Several important things to consider:
1. More often than not, the note is not lost at all. As Judge Hawthorne noted in a recent seminar, “A hard to find note is not the same as a lost note.” (How many times is that count plead, but the count if finally dropped when the note is found?)
2. Many times, the notes sought to be re-established through statutory procedures is not a “negotiable instrument” as defined by the UCC and thus they are not subject to the technical requirements for re-establishment. (Far too often credit card agreements, open lines of credit and other documents that are not even close to promissory notes are improperly entered as lost notes, but they flat out are not. Important facts that are missed by foreclosure defenders and missed or ignored by judges.)
3. The failure to account for the original note is a fatal flaw in foreclosure that should not be ignored. (It will show up later.)
So now here’s the bombshell. This procedure is used all over the country…the count is plead literally millions of times all across the US. And now comes inside information that this is not even a practice that is supported by the corporate monster on whose behalf this is done….as indicated in this email, third parties who are not the actual real parties in interest in litigation are driving a practice that is not supported by the real party upon whose behalf the attorneys are allegedly working…
Attorneys for mortgage companies usually are under very tight time pressures from investors third party default services to act quickly. Instead of actually producing the note, many attorneys rely on the practice of filing a ” lost note” affidavit. This is a practice that MERS does not support. When MERS forecloses, we require that the promissory note be in our possession endorsed in blank, making MERS the note-holder with the right to enforce it.
According to the website, ForeclosureFraud.com these bombshell revelations came straight out of Merscorp, Inc. Fairfax, Virginia.
Fairfax, Virginia, United States
Merscorp, Inc (18.104.22.168)
This is what they had to say…
In the foreclosure process, MERSCORP Inc. (MERS) has been and continues to be an outspoken advocate for all parties, producing all the required evidence, including the note. If that means taking more time to gather the necessary documents before rushing in and filing a pleading, MERS strongly recommends doing so.
It often takes time to produce the note. Attorneys for mortgage companies usually are under very tight time pressures from investors to act quickly. Instead of actually producing the note, many attorneys rely on the practice of filing a ” lost note” affidavit. This is a practice that MERS does not support. When MERS forecloses, we require that the promissory note be in our possession endorsed in blank, making MERS the note-holder with the right to enforce it.
HOW IN GOD’S NAME HAS SO MUCH LAW,
SO MANY FACTS,SO MUCH FRAUD
BEEN TOTALLY IGNORED JUST TO SERVE THE INTERESTS OF PARTIES WHO
CREATED SUCH A COLOSSAL DISASTER?
Why are judges all across this country just ignoring all of this?
Why do they feel so compelled to hold their noses, look the other way and push, push, push this whole corrupt process through?
Why are so many consumers still going unrepresented?
Why is not the entire judicial system in an uproar over what’s happening to the integrity of the courts?