(DOWNLOAD) "Note (Lost) and Enote (Found) (Standard Time)" by Mortgage Banking ~ Book PDF Kindle ePub Free
eBook details
- Title: Note (Lost) and Enote (Found) (Standard Time)
- Author : Mortgage Banking
- Release Date : January 01, 2011
- Genre: Industries & Professions,Books,Business & Personal Finance,
- Pages : * pages
- Size : 51 KB
Description
A common complaint in the foreclosure process is that a specific document--the promissory note--cannot be located in the mountains of paperwork related to mortgages. Ownership of the note is determined by physical possession of the original--the paper that was signed, in ink, by the borrower. Is it possible to lose an original note? Apparently so, based on the recent foreclosure crisis. Throughout the life of a loan, the note was in the physical possession of many hands, especially as lenders and Wall Street firms bought and sold thousands of mortgages. Sometimes, there was a failure to transfer the original note from one party to another.
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