Today (7/15/13), the Eighth Circuit Court of Appeals issued a stern warning to foreclosure  counsel who continue to assert the repeatedly rejected “show me the note” theory. In Heather L. Welk, et. al. v. Ally Financial, Inc., et. al., No. 12-3141, the Eighth Circuit affirmed the district court’s dismissal of the borrowers’ action and imposition of sanctions against their attorney “finding that the plaintiffs’ ‘show me the note’ theory had been repeatedly rejected by the courts and that [plaintiff’s counsel] had engaged in abusive litigation tactics.” The Eighth Circuit reasoned that “Counsel’s deliberate attempt to ignore [case law] suggests that he has the intention of deceiving or misleading the court into ruling in his favor.  At the very least, it suggests that he lacks a nonfrivolous basis for appeal.  Such conduct may provide a basis for this court to impose sanctions of its own in the future.”  While the Court’s action was directed against the abusive tactics of one attorney, William B. Butler, this opinion will hopefully serve as a tool for other courts to use in combating these tactics that are unfortunately becoming more and more prevalent throughout the country and wasting judicial resources.