Monday, 31 December 2012

#OWS HOOOORRRAAAAYYY!!!!!!!!!!! BANKSTERS BE GONE!!!! #LAW

HOORRAAYYYYYYYYYY!!!!!!!!!!!!!!!!!!!!!!


Banksters - BE GONE!!!!!!!!!!!!!!!!!!!!!!!!!!!!! 

NB; for those not schooled in law; voidable means the counter-party can SET ASIDE AS IF NEVER EXISTED! ;) See link underneath extract for wikipedia entry! ;) You have your ARGUMENT folks!

EXTRACTED

"Michigan Supreme Court Rules $3.75 Billion Of JPM Chase Held Mortgages Are Voidable


by Steve Dibert in HPN Blog


On the Friday before Christmas, while the media was focused on the funerals of the victims of the Sandy Hook massacre and pre-Christmas retail sales figures, the Michigan Supreme Court quietly handed down a significant ruling that will affect nearly $3.75 billion worth of mortgages former Washington Mutual mortgages that JPMorgan Chase acquired from the FDIC after Washington Mutual went into FDIC receivership in 2008.

The Michigan Supreme Court upheld a Michigan Court of Appeals ruling from January that calls for a strict interpretation of a Michigan law that states that if a foreclosing party is not the originating note holder they must be able to show a record chain of the mortgage.

MCL 600.3204(3) states:

If the party foreclosing a mortgage by advertisement is not the original mortgagee, a record chain of title shall exist prior to the date of sale under section 3216 evidencing the assignment of the mortgage to the party foreclosing the mortgage.

In Kim v. J.P. Morgan Chase, Chase claimed the requirements under MCL600.3204(3) do not apply because JPMorgan Chase acquired the loan “by operation of law”. What this means is JPMorgan chase is claiming is they don’t need to show a recorded chain of ownership because they acquired the note through their acquisition of Washington Mutual’s assets after Washington Mutual was placed into FDIC receivership in 2008. The Court of Appeals disagreed and said that a claim of “by operation of law” could only be claimed by the FDIC and that a mortgage assignment from the FDIC to JPMorgan Chase still had to be properly recorded with the Register of Deeds.

The Michigan Supreme Court in their 4-3 ruling states that the mortgages are currently unenforceable because ...."

Continues


Happy New Year folks! hehe ... WINNING! ;)

http://en.wikipedia.org/wiki/Voidable

BANKSTERS ...... BE GONE!!!!!!!!!!!!!



The White Rabbit!

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