Re: [tips_and_tricks] When GMAC goes Bankrupt......note or draft
- And the evidence of this is right under our noses, The UCC tells us the difference between the two instruments notes and drafts, and it is the language that is used, a note "I promise to pay", and a draft "Pay to the order of" which denotes the difference. Now go to ANY so called "promissory note" that you signed for a mortgage, you will find that it contains BOTH of these phrases, now back to the UCC and their comments about as to such use and it says "when both wording is in the document it can be used either as a note of a draft", now back to the original so called note, I have in my possession though discovery two different so call notes, that are stamped on the back "for deposit without recourse", they have used this instruments as drafts/checks.
On Thu, Jan 8, 2009 at 6:31 PM, Frank M. <fmumma@...> wrote:
I noticed you posted a reply to MN Chicago related to the issuance of
mortgages, and/or whether or not the (lender)bank commits fraud
against the (borrower) buyer with a home loan. I will show you "how"
from a legal standpoint, banks and/or lending institutions (as a
business practice) do in fact commit fraud in one form or another.