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Re: [tips_and_tricks] Mortgages

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  • Michael Noonan
    ... Arguing that there is no money, in any sense, will certainly be a losing one. No judge will allow any such argument, for a variety of reasons, foremost of
    Message 1 of 2 , Nov 22, 2007
      --- mobinem@... wrote:

      > Here is the point;
      > most, if not all mortgages contain a clause saying
      > "money" is transferred. At
      > issue is the fact there is no such a thing as money
      > in a legal sense in this country.

      Arguing that there is no money, in any sense, will
      certainly be a losing one. No judge will allow any
      such argument, for a variety of reasons, foremost of
      which is such a declaration would undermine the
      financial stability of money.

      Secondly, under such a position, the burden has
      shifted for anyone to prove that there is no money,
      and that takes away from fighting the foreclosure.

      Make the opposition produce the original note, and
      nothing less. If the claim of holder in due course
      is being made, per UCC the holder in due course must
      have physical possession of the note.

      Of course, that is never true seeing as how the note
      was sold by the lender to raise the money to "lend"
      back to the borrower.

      Demanding the original note, and not a copy, keeps the
      burden of proof where it belongs, and it is so much
      less work.

      Cheers!

      mn


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