PART I. The Promissory Note Evidence Ownership of Debt and Standing to Bring Suit.

· The Fundamentals:
In the period beginning in 1996 and ending in March of 2008, Mortgage Electronic Registration Systems Inc., a/k/a/ MERS, has been named as a “mortgagee” on over fifty million mortgages. Yet MERS has never orginated a single mortgage loan nor loaned a dime to a single borrower. In 2001 the New York Surpreme Court ordered the Sufulk County Clerk to accpt MERS mortgage for recording as a purely ministerial duty. However the Court denied MERS request for a judgment declaring that MERS mortgages were “lawful in all respects” On an borught by the Sfuolk County Clerk, the New York Court of Appeals affirmed the lower Court’s order directing the County Clerk to record MERS mortgages. The Court of Appeals did not reverse the lower court’s denial of MERS request that the Court delcare MERS mortgages “lawful in all respects”. MERS, for obvious reasons, did not want the New York Court of Apeals to affirm in a published opinion the fact that MERS mortgages are legal nullities because they violate the legal prohibition against seperating a lien from the debt it secures and/or that MERS has no standing to enforce a mortgage when it is not a creditor entitled to collect a debt. The New York Court of Appeals did address and frame these issues as important but left them to be decided at a future date.
· No Note No Foreclosure
In reality MERS is really nothing more than a shell, or a front corporation for its so-called “members”. Many of these MERS members which were once the some of the most prestigious names in American finance. Many MERS members are now reporting hundreds of billions of dollars of losses as result of their illconcieved to scheme to ramp up mortage orgination so they could flip millions of mortgage loans loans into trusts in exchange for trillions of actual dollars. One big problem was that many of these trusts were never delviered the promissory notes and therefore have no evidence of ownership of the debts they puportedly purchased. To make matters worse many of the debts evidenced by these undelivered promisssory notes were supposed to be secured by mortgage liens. However in place of mortgages being executed in favor of the original lender many of these mortgages were executed in favor of MERS. Because never holds these notes or owns a debt and is therefore not a creditor it has no legal standing to enforce a debt, or so it told the Nebraska Court of Appeals in 2005. However this lack of standing defense must be raised by property owners who are sued either by MERS or these National Bank trustees. The most effective economic way to raise this lack of standing defense is by bringing a motion to dismiss in response to the complaint to foreclose. In mant states and in federal court this is called a Rule 12 motion. This motion is brought in place of answering the complaint. An honest attorney in most areas of the country should be willing to preapre and bring such a motion for $500.00 to $1,500.00 for a distressed homeowner. Or you might be able to find a lawyer to do it for you pro bono and perhaps a legal aid attorney. kev_o_shanter@yahoo.com

need help in f/c lost note claimed by sun trust

Would the continued filing of multiple false claims by the same bank lawyer mean two or more (bankers and lawyers) have conspired to commit fraud?

When Bank A assigns to Bank B, to C, D, E, then F/Freddie and Fannie, – Then same Bank A uses a “Copy” of the original Note as collateral with Bank 1,2,and 3, – isn’t that reason for further examination into the “Lost Note” issue?

“We Find The Notes”

April Charney is awesome, and I wish we could clone her. HOWEVER, she is only one person, and already has over 100 clients in her own area. I would suggest reading EVERYTHING you can about forclosure in your state, paying special attention to the assignments, and read everything that quotes April Charney. I have managed to halt (maybe temporarily) a foreclosure on a house in which I am a tenant with an option, with April’s help. I wrote a Motion to Dismiss (flawed, I’m sure) and with April’s help an Order. Neither were “successful”, but they were effective, in that I got a hearing, and pointed out the flawed assignment, and got the Judge to demand proper assignment. It actually worked to my advantage, I think, that the case was not dismissed. They would just re-file, this time doing it all correctly.

That’s a brutal situation you’re in. One has to think, hey, why would you WANT to keep paying over a mil for a home when comps are selling for less than half?

How long have you had the loan….and who was the lender?

“Another layer of this puzzle that we’re documenting is the wired versus wireless Internet, particularly in rooms,” said Lindelow. ……

thank you Dan Adams