Thanks for reference to UCC9. I will try to make sense of it as a layperson.

Florida Supreme Court ruled there must be verification:

http://www.floridasupremecourt.org/decisions/2010/sc09-1579.pdf

Florida Bankers Association also has admitted (page 4) to destroying notes as standard procedure:

http://www.scribd.com/doc/33631481/Florida-Banker-s-Association-Lost-Notes-09-1460-093009-comments-Fba-1

So it does seem that banks have a problem. No?

negotiation of the note automatically effects an assignment of the security instrument

MERS is never a party to the note, is never involved in negotiation of the note and is rarely even mentioned in the note. MERS is a bankruptcy-remote and does not hold assets (including notes and mortgages). Moreover, MERS is in no position to assign anything to anyone without proper and lawful assignment to it.

“I wish the reality of our profession, ­at least as viewed by the people we purport to serve­, could be seen as a ‘glass half-full.’ I am afraid, however, that because lawyers view justice differently than non-lawyers, we are drinking from different cups. For too long, we who are in the system of justice have insisted that those outside defer to our point of view. I think it is time we look at ourselves through their eyes.”

“If the non-lawyers in our society truly expect that we are interested in justice (as the majority of people understand it to be), we first must accept the fact that we are not now, and quite possibly never have been, viewed by our community as the professionals we claim to be. Instead, we are viewed (in many ways rightly so) as the educated and wealthy elite, making our living by helping the legally illiterate maneuver through the procedural waters of the law that we have created and that cannot be navigated without us. It is an unfortunate reality that those who are not educated in the law are required to navigate these waters as a condition of their membership in this society.”

– Attorney ­David L. Geislinger, What Price Justice? Why Was Amendment 40 Even on the Ballot?, 36 Colo.Law. 5 (May, 2007) at 77.

“Under the English common law with its complicated forms of action and veritable maze of writs and confusing procedures, the right to retain counsel in civil proceedings became a necessity. By the middle of the thirteenth century, lawyers so monopolized the courts in London that the King was forced to decree that, except for a few special causes, litigants were entitled to plead their own cases without lawyers.”

– Iannaccone v. Law, 142 F.3d 553 (2d Cir. 1998) (citing The Right to Counsel in Civil Litigation, 66 Colum. L. Rev. 1322, 1325 (1966)).

“Woe unto you also, ye lawyers! for ye lade men with burdens grievous to be borne, and ye yourselves touch not the burdens with one of your fingers. Woe unto you! for ye build the sepulchres of the prophets, and your fathers killed them. Truly ye bear witness that ye allow the deeds of your fathers: for they indeed killed them, and ye build their sepulchres. Therefore also said the wisdom of God, I will send them prophets and apostles, and some of them they shall slay and persecute: That the blood of all the prophets, which was shed from the foundation of the world, may be required of this generation; From the blood of Abel unto the blood of Zacharias, which perished between the altar and the temple: verily I say unto you, It shall be required of this generation. Woe unto you, lawyers! for ye have taken away the key of knowledge: ye entered not in yourselves, and them that were entering in ye hindered.”

– Jesus (Luke 11:46-52)

Apples and Oranges. The banks ruined the economy, securitized the good mortgages with the bad mortgages and claimed they were A rated. Where I come from this is fraud. Not just a contract gone bad. The value in the land is gone. The peoples ability to earn a living is gone. This was caused by the Wall Street banks and the lenders. The indignation is at the very institutions trying to now collect who have perpetrated a fraud on the American people and the borrowers.

In other words the contract did not work out as a direct result of the fraud of the lending institutions and Wall street bankers.
Pretty simple.

Hi Hank
I know all about responsible money management, in 2009 my FICO score was in the high 7’s. It took years to get to where my wife and I were. We chose like all others in this country to invest in our home. We had allot of our own money, as well as sweat equity when we built our home. Our jobs/ income had not changed in over 10 + years.
point is when my wife and I lost both jobs in about 60 days apart, we continued to be on time with our mortgage, until we entered into a government program called HAMP.
Thats when we cashed in and paid the IRS 30* withdrawal fee. this was done because, because we believe in paying our bills on time…..
Here’s my point, the Bank has allowed us to pay a modified payment while promising a mortgage modification. We were told we had it 9 months into it and 5 months later they claimed they don’ have any paperwork from us although we notarized these docks and to what end, we are 11 months behind broke and without any response from Chase
Go somewhere else a preach your Pay Cash to someone who cares……….

You know, you don’t have to take out a mortgage to buy a house. You can save up and pay cash, and up until 1920 or so this was very common.

Just because a contract doesn’t work out the way you want it to doesn’t mean that it shouldn’t be enforceable. If your employer decided at the end of the year to pay you $20k less than agreed because you weren’t as productive an employee as they thought you would be, would you support that decision? Or would you direct the same indignation toward your employer that you exhibit toward the banks here? I bet I know the answer…

Well Done. I it a shame the courts continue to support the Banks in their all out attempt to rape our Nation.
Sorry to see the outcome.
Many Americans entered into loans with great credit and large down payments, and due to this economy created by the Banks and Mortgage securities are now unemployed and are losing their homes to foreclosure.
I say take the thieves to Guantanamo Bay and let them live with their own kind !