Friday, 03 June 2011 16:29

FORECLOSURE: LET US KEEP IT SIMPLE.  Your foreclosure sale bought your Genuine Original Promissory Note (not a copy).  You can buy the note only from the true holder in due course.  Treble damages must be paid to you by the thief who attempts to sell your house and keep the note or if the thief has no GENUINE ORIGINAL PROMISSORY NOTE or if he has an unrecorded stolen note he still pays you treble damages for his fraud.

The House + Treble Damages

Federal Circuit Courts have ruled that the only way to prove the perfection of any security is by actual possession of the security. See Matter of Staff  Mortg.  &  Inv.  Corp.,  550  F.2d  1228  (9th   Cir  1977),    "Under  the  Uniform Commercial Code, the only notice sufficient to inform all interested parties that a security interest in instruments has been perfected is actual possession by the secured party, his agent or bailee." Bankruptcy Courts have followed the Uniform Commercial Code. In Re Investors & Lenders, Ltd. 165 B.R. 389 (Bkrtcy.D.N.J.1994), "Under the New Jersey Uniform Commercial Code (NJUCC), promissory note is "instrument," security interest in which must be perfected by possession ..."

Memorandum of law in support of the point of law that even in a default judgment, damages must be proved

 

U.C.C. - ARTICLE 3 - NEGOTIABLE INSTRUMENTS

PART 5. DISHONOR

§ 3-501(b)(2).PRESENTMENT.

                     Surrender the instrument if full payment is made.

§ 3-305. Defenses and Claims in Recoupment.

3-305c  An obligor is not obliged to pay the instrument if the person seeking enforcement of the instrument does not have rights of a holder in due course and the obligor proves that the instrument is a lost or stolen instrument.

DO NOT LEAVE YOUR HOUSE WITHOUT THE NOTE THAT THE SELL OF YOUR HOUSE BOUGHT.

In non-judicial states petition your local Circuit Court for injunctive relief from the wrongful foreclosure.  Demand that both parties be governed by the Rules of Civil Procedure.

DO NOT PAY A DEBT YOU DO NOT OWE.

Questions?? Call 334-774-7673. True assessment must precede collection. There is no statue of limitations on fraud.