A plaintiff must allege that it is in possession of the underlying Note in order to establish that it has standing to prosecute the action. This note is intended to help counsel for the lender ensure that all pre-suit obligations are met to avoid any delays or defenses to the foreclosure.O If the note is lost or destroyed, it is possible for a plaintiff to prosecute a foreclosure action, but only upon meeting the requirements of UCC § 3-804,. Recover lost promissory notes with ease. In Wells Fargo Bank, N.A. v. The note represents the promise or agreement of the homeowner. The father failed to provide the affidavit of heirship, which resulted in the foreclosure going through. (f) Lost note affidavit.