PROFESSIONAL VIEW AS A NON LEGAL “TAX ” ARGUMENT
DEFENDANTS MOTION FOR DISMISSAL SHOULD BE DENIED AND STAY IN EFFECT UP TO AND PENDING TRIAL UNTIL TIME OF TRIAL
1. Defendants assertion are presuming the court agrees Movant’s counter claims and defenses are based on equitable claims for encumbrances held as a successor s in interest against the estate of the debtor
2. The debtor is in Chapter 11 proceedings is seeking an adversary claim for an action to be heard in US Bankruptcy court on or about (date) by Central Court District
3. Debtor brings clams and challenges the very legal standing of a plaintiff to institute a foreclosure action, succeeds where the court must see the new method of selling loans to a investors have caused the process to rely on the non judicial scheme to act as a private parties right to adjudicate a contest matter. A foreclosing party cannot institute a foreclosure action when it has no legal interest in the mortgage and note at the time of the filing of the foreclosure action
4. The holder and loans wholesale commercial financing are one in the same Bank of America. Bank of America never assigned the loan as lender and commercial lender concurrently funding the SUBJECT Mortgage.
5. The UCC, as it relates to lending, is a way for each state to have a consistent method of recording the security of a loan. When banks make secured loans, or loans with collateral (e.g., home mortgages), they file a UCC form with the state where the loan agreement is executed. This filing essentially makes the loan security, or collateral, a matter of public record. Without this filing, a lender could run into difficulties laying claim the collateral in case of default.
6. The obligation in question is a default of a commercial loan that was used for securities financing. The debtor’s loans were affirmed abandoned by issuance of the 1099A charged to the obligors account. The 1099 is owed to the bond holders by the member bank as the true borrower and not allowed as a charge to the consumer.
The debt forgiveness is under a U CC filing and is inaccurate.