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The proof is in the pudding;

"In actual practice, confusion over who owns and holds the note stems less from the fact that the note may have been transferred multiple times than it does from the form in which the note is transferred. It is a reality of commerce that virtually all paper documents related to a note and mortgage are converted to electronic files almost immediately after the loan is closed"  IN THE SUPREME COURT OF FLORIDA  CASE NO.: 09-1460

Florida Bankers Association

Jimmie (The “Pretender”), Johnny (The Borrower”) and Joanie (The “Lender”), were all neighbors.

 

One day Johnny and Joanie, made an agreement that Johnny would pay Joanie, $50.00 a month for the next twenty years.

Johnny paid Joanie, just as they agreed.

 

One day, Jimmie came to Johnny and said he would be accepting the money Johnny promised to pay Joanie.

If you were Johnny, would you pay Jimmie?

 

And, Where's Joanie?

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Trillion Dollar FUBAR

Largest Crime in U.S. History

Welcome

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Our Lemon

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The world of 

Electronic Negotiable Instruments

This site does not provide substitution for legal counsel. See our disclaimer

For the Homeowners:

This site was developed to provide Articles and Charts to educate the reader in understanding this Grand Illusion of Electronic Mortgages.

eNotes have no supporting laws.

How much do you owe?

For the Investors:

This site was also developed to provide Articles and Charts to educate the reader in understanding this Grand Illusion of Mortgage Backed Securities.

eNotes have no supporting laws.

What was your investment worth?

Joanie, was the original party to the “Johnny and Joanie” agreement.

 

Joanie decided to take Johnnies agreement, and sell it to Jimmy, as in investment for future monies.

 

One day Johnny was going through his investment paper he bought from Joanie and noticed that Joanie had given him a paper that looked like it was real.

 

Jimmie did not know any different. Jimmie knew that from his upbringing, the paper must be good. That was the way things were done, he said to himself.

 

Then one day, Jimmy went to see ole Uncle Bob, and see if Uncle Bob, knew where Jimmie might be able to sell his investment,  since he needed some money for other things.

 

Uncle Bob, took a glance at the paper Jimmy invested in and said ”Jimmie, where did you get this?”

 

Jimmy told Uncle Bob, he got it from Joanie.

Uncle Bob told Jimmie, that he might want to go back to Joanie, and demand that she give him the original paper, because the one Jimmie has, is not real.

 

Jimmie argued with Uncle Bob, for a while.  Jimmy knew he was right. That is the way he was taught. His paper was real. Then Uncle Bob, said “It might look real, but it is not”.

 

Then Uncle Bob asked Jimmy, if he even knew how to enforce, his lawful rights to the copy Joanie gave him?

Uncle Bob, asked Jimmy if he remembered how things were done before all those new fangled gadgets came along that could duplicate a single paper instrument?

 

But we live in an age of electronics, uncle Bob.

Uncle Bob, asked Jimmie, “Just what law do you think you will use to support that electronic copy”?

 

Jimmy now began to understand why Johnny did not want to pay him.

 

Johnnie did not want to pay Jimmy, because Johnny knew that Jimmy was not the rightful owner of the debt Johnnie incurred. Johnnie knew that original paper he signed, was not in Jimmy’s hands.

 

Jimmy now understands that Joanie, sold him a bill of goods, that sounded good to Jimmy.

 

Jimmy, took the bait, Hook, Line and Sinker.

 

And, Where's Joanie?

 

Selling other copies of Johnnies agreement!

Welcome to the World of Illusion, the Electronic Negotiable Instrument.

Was Y2K, what you thought it was?

The “Lender” forgot to follow the rules?

eNotes are NOT LEGAL!

 

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