Fight Foreclosure: Produce the Note How-To

This does work. During the recent Real Estate Boom years, many lenders, if not most, in order to process as many loans as possible, and then turn around and sell them into the secondary loan market, created shortcuts, many of which are legal violations that you the homeowner, whether you are current or in default, can use these violations to fight your lender legally, with the letter of the law on your side.

"They will take a bigger hit than you." Really? What is it all over the net ignorant buckwheats authoritatively telling you the most erroneous things!? Don't listen to (newbie empty-hompage)Wishlist2Day he's obviously some bankster shill arsewipe who wishes we'd all just give all our property and chattel to the banksters and work continuous consecutive shifts in underground factories living on mud gruel.

No it doesn't. It doesn't give you anymore time than anything else. They will eventually foreclose on you, even if you are using an attorney for this. Just try to work it out with your lender. If they wont budge and you are upside down on your mortgage... Just walk away and let them have the home. They will take a bigger hit than you.

frontier1701

You hit the nail right on the head. Attorneys and loan modifications scammers will tell you this to get an up front fee from you. I say if you are upside down in your home and you cannot modify your loan with your lender.. Walk away from the home and move on with your life.

Some guy was preachin the same shit in Las Vegas. He lied and told everyone of his clients that he was an attorney and they paid him money for this shit. Then we all heard on the news that he was arrested and his office was closed down. If you are so upside down in your home and your lender will not modify your loan, walk away from the house. They will lose more than you will on the home.

watch out if you have any debt with chase credit cards, they just hit me with an increase from 2% of my monthly balance to 5% of my monthly balance starting in August 2009
Since I owe them a large amount of money this is going to increase my minimum payment 250%: OUCH

The problem with this approach is that many lenders register their mortgages through MERS (Mortgage Electronic Registration System) which automatically transfers assignments of deeds/mortgages at the applicable county courthouses.

Bottom line, check the chain of ownership of your property by either going to the courthouse yourself or have a title abstract or opnion of title performed. You should have an unbroken chain of ownership and if you don't, you have a better chance of fighting.

No! the problem is that with MERS being the new bearer of the Promissory note, it is unlawful since MERS is simply a software program and not a legal entity. These are uncharted waters and now is the time for the consumer to Fight Back. Make them produce the note...they can't!

You might want to read the language in the deeds/mortgages that consumers have signed and get back to me on that. MERS is definitely a legal entity and the assignments are valid. Why do you think it was created, as banks/financial institutions saw this potential loophole and effectively closed it? Has MERS been challenged in any court yet? If so, what was the outcome?

Yes.... This tactic will slow down a foreclosure but you're not gonna get the house for free... In the end the lender will get the house thru the court system... It will just take them 3-6 months more (while you live there for free)----To lead homeowners to believe the court is going to "forgive" the debt because the lender cant produce the original note is just plain foolish.... but thats what
"illegalfuture" would have everyone think...