Produce the Note
There is a huge problem facing the banks who are attempting to foreclose. Half of the original contract mortgage notes are not in their possession. Banks bundle up mortgage loans into packages and sell and resell them to investors; and often no one knows where they are or have ended up.Facing a foreclosure, ahead of the court date, demand that the bank foreclosing on you bring the original note to court. In many states, if the bank cannot produce the original for any reason, the judge has to deny the foreclosure.
1. Who funded that so-called loan, you or me?
2. Is that promissory note I handed you an actual security, traded on the public market?
3. When I gave you that note, did you create a demand deposit account in my name in your institution?
4. OK, then, can I use that asset to offset my debt with you?
1. You can’t really swear to what you don’t know (Rules of Evidence–personal knowledge requirement).
2. You can’t transfer rights greater than the rights you have (Real Property Law).
3. A copy of a dollar bill is not really the same thing as a dollar bill (UCC Negotiable Instruments & Commercial Paper).
4. You can’t really witness a signature several days before the document is signed.
5. You can’t foreclose if the note is no longer secured by the deed of trust.
6. Foreclosure mills consort with and do what the claimed “beneficiary” (though usually just the servicer) orders.
7. An agent cannot confer power upon himself; it derives from a principal (Common Law Principal/Agency).