The judicial system has fashioned a remedy, to wit: judges strive to PRESUME that the underlying transaction exists and as long as they can block the homeowner from showing the absence of any such transaction, their presumption is likely to be upheld by an appellate court (although that tune seems to be changing lately).
The Wall Street banks profited far more by forcing the loans to fail, foreclosing on the property and then abandoning the property they had foreclosed
THE FOLLOWING ARTICLE IS NOT A LEGAL OPINION UPON WHICH YOU CAN RELY IN ANY INDIVIDUAL CASE. HIRE A LAWYER.
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I keep hearing stories about homeowners frustration with their lawyers who fail to make the connection between what happens on Wall Street and what happens on Main Street. This is an example of how lawyers are seeing what goes on…
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I was told by opposing counsel that he does not have to tell me who is the creditor–that is not what the law says.