Two Foreclosures, One Property, One Owner, Both Claiming Possession of the Original Note, Neither Claiming Ownership of the Debt

Powell says the case raises an interesting question: Are entities wrongly filing foreclosure suits and collecting on notes they don’t own?”

Originally posted in November, 2008 this illustrates what happens when you destroy notes and then “recreate” them for purposes of claiming you have the original in court. The fact remains that neither of them had the original note because, as the Florida Bankers Association told the Florida legislature, it was industry practice to destroy the…

Source: Two Foreclosures, One Property, One Owner, Both Claiming Possession of the Original Note, Neither Claiming Ownership of the Debt

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