Supreme Court rules that thousands of home foreclosures are invalid because banks do not have promissory notes

NaturalNews) More than five million US homeowners and counting have had their homes foreclosed upon by banks since the “economic crisis” first began several years ago. But the Massachusetts Supreme Court recently ruled that the vast majority of the foreclosures that took place in the Commonwealth (and likely in most other states) within the past five years are illegitimate because the banks did not, and do not, actually hold the promissory notes for the properties.

This means that all mortgage payments made to banks for illegitimately foreclosed upon properties are fraudulent since such banks do not technically own the properties in question. It also means that anyone who purchased a foreclosed property, or who is threatened currently with potential foreclosure, does not necessarily have a legal obligation to continue paying their mortgage.

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via Supreme Court rules that thousands of home foreclosures are invalid because banks do not have promissory notes.

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