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Tonight, Connecticut Attorney Stephen Wright will join Neil Garfield to discuss the Florida 4th District Court of Appeals destroying the Christiana Trust, its fake documents and the likelihood that it will get traction in other states. The unraveling of the WAMU/Chase relationship is close at hand, and why you may not want to refer to yourself as a Borrower unless you possess evidence that the parties on the Note actually had a legal contract including consummation.
Neil Garfield will explore the concept of “Moot Borrowers” to compliment his theory of Pretend Lenders. Since it is almost impossible to determine who loaned the borrower money at origination, and the ownership of the loans can’t be traced- the homeowner can ONLY be a “borrower” if they executed a loan contract and the contract became enforceable because there was offer, acceptance and consideration flowing both ways. Without all four legs of the stool it collapses.
In the Christiana Trust case- a successor plaintiff failed to demonstrate that its predecessor (JPMC) had standing at the time the action was commenced. Although the bank eventually filed a blank-indorsed note, the note attached to the complaint did not contain the indorsement, and the bank failed to present any other evidence demonstrating standing at the time the complaint was filed. The Appeal court reversed due to lack of standing, any decided that any remaining issues such as proof of damages were moot.
Stephen P. Wright
Wright Law Firm324 Elm StreetSuite 103BMonroe, CT 06468203-261-3050 (O)
Filed under: foreclosure