Ask the Expert: Foreclosure Defenses
Mailto:expert.witness@live.com Tel 213-880-6288Dec 2, 2009
LENDER & SERVICER'S likely in serious trouble
Bankruptcy Courts hold Banks to strict proof concerning the location of the original Note and Trust Deed and requiring the same be moved into evidence (or strictly accounted or) prior to proceeding with a routine Lift the Stay Motion. This includes the entire LENDER, MERS, SERVICER triad which is likely in serious trouble.
The notion of not knowing of a notes whereabouts is answered with the transformation of the securities.and who holds the extinguished Trust Deed and/or the Note.
If this question gets redundant for Lift the Stay Motions and in other ancillary court proceedings, watch for an unraveling of MERS Nominee system.
The notion of not knowing of a notes whereabouts is answered with the transformation of the securities.and who holds the extinguished Trust Deed and/or the Note.
If this question gets redundant for Lift the Stay Motions and in other ancillary court proceedings, watch for an unraveling of MERS Nominee system.
Labels: "won't believe", CDO's, failure, heloc, New York
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