http://www.americanbankingnews.com/2009/09/01/new-york-judge-banks-must-prove-ownership-or-no-foreclosure/ News and Information about Banks, Credit Unions and Financial Institutions Tue, 09 Mar 2010 20:56:31 -0700 http://wordpress.org/?v=2.9.2 hourly 1 http://www.americanbankingnews.com/2009/09/01/new-york-judge-banks-must-prove-ownership-or-no-foreclosure/comment-page-1/#comment-232 jayturner Tue, 01 Sep 2009 17:15:02 +0000 http://www.americanbankingnews.com/?p=479#comment-232 And the lenders have an equal responsibility to be open and up front on what the paperwork contains and to avoid the practice of bait and switch which was very prevalent just a few years back. Also, they should have know the ancient laws of paper - possession of the original note is everything. no possession means you so not have a leg to stand on. Too bad Wall Street missed this technicality to the tune of trillions of dollars. This is a reality check I have been preaching for the past decade. No possession! You lose! And the lenders have an equal responsibility to be open and up front on what the paperwork contains and to avoid the practice of bait and switch which was very prevalent just a few years back. Also, they should have know the ancient laws of paper – possession of the original note is everything. no possession means you so not have a leg to stand on. Too bad Wall Street missed this technicality to the tune of trillions of dollars. This is a reality check I have been preaching for the past decade. No possession! You lose!

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