Prior commitments prevent me hosting the radio show tonight. To our Jewish friends, we celebrate the festival of sukhot.
But as an introduction to topics coming up on this blog, we ask some questions about so-called “lost” notes. We have been hearing reports that the banks are admitting what Katherine Ann Porter told us 7 years ago — they regularly shredded the original note. Why would you shred the equivalent of cash unless you were hiding something and doing something wrong?
By institutionalizing the practice of shredding they diminished expectations of seeing the original. This is what enabled the banks to see the same loan papers (without the debt) to multiple third parties. “Losing the note” was the means to an end— getting $10 for every dollar of actual debt.
Where was the note?
Describe the people and process of recovering it!
Who lost it?
Who found it?
Where was it?
How was it found?
Filed under: foreclosure |