WHAT IS THIS – YOU MAY HAVE “RIGHTS” TO DEMAND “PRESENTMENT OF THE NOTE AND TERMS?”

Steve Vondran is a real estate lawyer who can represent you in financial elder abuse, distressed real estate issues, short sale, predatory lending, state and federal real estate litigation, arbitration, broker compliance, accusations, real estate zoning & land use, eminent domain, trademarks, and general foreclosure defense. Call (877) 276-5084

Real Estate Law Firm – who has written posts on Foreclosure Defense Resource Center.


Here is a document that shows in the Deed of Trust for this reverse mortgage, the lender wanted the borrower to “waive their right” to demand presentment of the Note. Click on the attached link to see the document.   To see our blog post on this topic click here:

UCC Presentment

Article Global Facebook Twitter Myspace Friendfeed Technorati del.icio.us Digg Google StumbleUpon Eli Pets

About Real Estate Law Firm
Steve Vondran is a real estate lawyer who can represent you in financial elder abuse, distressed real estate issues, short sale, predatory lending, state and federal real estate litigation, arbitration, broker compliance, accusations, real estate zoning & land use, eminent domain, trademarks, and general foreclosure defense. Call (877) 276-5084

Comments

2 Responses to “WHAT IS THIS – YOU MAY HAVE “RIGHTS” TO DEMAND “PRESENTMENT OF THE NOTE AND TERMS?””

Trackbacks

Check out what others are saying about this post...
  1. [...] If true, this would produce additional problems for the lender/creditor. In fact, I recently reviewed one loan that has a UCC PRESENTMENT WAIVER (evidencing that this is an issue that at least one lender – in that case a reverse mortgage) has considered and apparently given credence to.   According to California case law, the so-called lender would lose the right to foreclose on the security (real estate) if the obligation is unenforceable. Savings Bank v. Asbury (1897) 117 C 96, 48 P 1081; Trowbridge v. Love (1943) 58 CA 2d 746.   As the theory goes, if the lender trying to foreclose on a property cannot prove default by producing the original note and deed of trust then they may not have the right to foreclose at all.   IN FACT, IN SOME DEEDS OF TRUST (LIKE THIS ONE FOR A REVERSE MORTGAGE) THERE IS A SPECIFIC CLAUSE AS…. [...]

  2. [...] If true, this would produce additional problems for the lender/creditor. In fact, I recently reviewed one loan that has a UCC PRESENTMENT WAIVER (evidencing that this is an issue that at least one lender – in that case a reverse mortgage) has considered and apparently given credence to.   According to California case law, the so-called lender would lose the right to foreclose on the security (real estate) if the obligation is unenforceable. Savings Bank v. Asbury (1897) 117 C 96, 48 P 1081; Trowbridge v. Love (1943) 58 CA 2d 746.   As the theory goes, if the lender trying to foreclose on a property cannot prove default by producing the original note and deed of trust then they may not have the right to foreclose at all.   IN FACT, IN SOME DEEDS OF TRUST (LIKE THIS ONE FOR A REVERSE MORTGAGE) THERE IS A SPECIFIC CLAUSE AS…. [...]



Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!