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To: caseinpoint
Even if the mortgage was never recorded it does not mean that the mortgagee has does not have a valid security interest against the original mortgagor.

The entire purpose of the recording statute is to give notice to subsequent lenders and purchasers. Recording the lien does not validate it, it only perfects it against other third parties. So, if a lender fails to record its mortgage and a subsequent lender then lends money against the same property and records it mortgage, the second lender holds the superior position because the first lender failed to give notice of its lien.

The original borrower, however, was always fully aware of the mortgage. Actual notice always supersedes the recorded notice.

17 posted on 05/29/2010 4:52:36 PM PDT by CharacterCounts (November 4, 2008 - the day America drank the Kool-Aid)
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To: CharacterCounts

Thanks for backing up what I said.


18 posted on 05/29/2010 5:00:32 PM PDT by caseinpoint (Don't get thickly involved in thin things)
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To: CharacterCounts

Spectacular Appellate Brief on Indorsement, Assignment, Standing, and MERS. From Florida’s own: George Gingo, Esq.

It has always been trendy to bash attorneys.

This fella could make a lot more money in a different area of practice...but chooses to do this instead.

David vs. Goliath

In this case David has a little help from Attorney Gingo!

http://livinglies.files.wordpress.com/2010/05/5-27-10-first-franklin-appeal-george-gingo.pdf

http://www.foreclosurehamlet.org


25 posted on 05/30/2010 5:54:27 AM PDT by Chunga85 ("Foreclosure Fraud", TARP, "Mortgage Crisis", Bailout)
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