OK, I must no life outside of fighting my fight. I'm the last to post on many of the first page threads this morning.
Reading the UCC this morning and happened upon Article 3, section 305.
§ 3-305. DEFENSES AND CLAIMS IN RECOUPMENT.
(a) Except as otherwise provided in this section, the right to enforce the obligation of a party to pay an instrument is subject to the following:
(1) a defense of the obligor based on (i) infancy of the obligor to the extent it is a defense to a simple contract, (ii) duress, lack of legal capacity, or illegality of the transaction which, under other law, nullifies the obligation of the obligor, (iii) fraud that induced the obligor to sign the instrument with neither knowledge nor reasonable opportunity to learn of its character or its essential terms, or (iv) discharge of the obligor in insolvency proceedings;
Item (iii) lept off the page and smacked me upside the head.Has anyone attempted a defense, or filed suit, on this basis? Many of us have been victims of one or more of the many layers of fraud or negligence that seem to be standard operating procedure in the mortgage industry in the past decade.