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Originally Posted by jerrypitts
Understood Idknow.. what is not understood is this:
where do the stamps/coupons originate?
how are they originated?
which in turn would answer --
how does the homeowner get hold of thos coupons? and if he/she did get hold of the coupons, how would he/she be able to use them to offset the original obligation?
It would be nice to think that this language used here is their method of acknowledging the affidavit of that attorney up in Ohio (can't remember his name offhand). What I mean is this... this citation mentions notes issued by the bank along with the mention of the coupons.. are these notes the same as the note that we as debtors signed to generate the funding? If it is, then this becomes crystal clear and in perfect harmony with the many sources that iterated on the money mechanics issue.
Jerry.
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udder significant defines we need:
Debenture: a corporate bond without collateral; its value based on
the reputation and financial strength of the issuer!!! from financial dictionary
From American Heritage Dict.
Debenture: 1. a certificate or voucher acknowledging a debt;
2. an un-secured bond by a civil or governmental corporation or agency and [b]backed only by the credit standing of the issuer;
3. a customhouse certificate providing for the payment of a drawback.
http://www.EagleTraders.com/neg_fina...re_tprog_o.htm
http://en.wikipedia.org/wiki/Debenture
"a debenture is any debt or loan that is backed only by the borrower's word"
"a long-term debt instrument that is not secured by a sepcific asset. In the event of default, the holder does
not have a claim against any specific asset(s) of the issuing firm."
By the way, in .uk context, a debenture
*IS* secured by assets! go figer!!!
info from first page of google with "+dictionary +debenture".
debenture: unsecured loan or, possibly even, gift.