Banks like Bank of America and JP Morgan Chase got caught illegally foreclosing on thousands of families because they couldn't produce the original documentation that they even owned the homes in the first place.
Banks have created a system where it is impossible to figure out who owns the loan. There have been instances of two banks trying to foreclose on the same home, and at least in one case, of a bank trying to foreclose on a house where the homeowner had never even taken a mortgage.
It's pretty clear we can't rely on Wall Street banks to follow basic rules. We have to hold them accountable.
** What can you do?
Whether you are facing foreclosure, have an underwater mortgage, or are just a concerned homeowner, it's important that you contact your bank and demand to see the original note on your mortgage.
Your home could be owned by the wrong bank, or you could even be paying the wrong amount on your mortgage.
It only takes a few minutes using our free online tool:
Make sure your bank is following the letter of the law.
Go online and ask them to "Show me the note!"
http://showdowninamerica.org/wheres-the-note
Help others save their home: Forward this email to your friends and family.
banks dont "lose" anything
they SELL the notes since they have value(from your signature)
they create money out of thin air(bookkeeping entries) and give you YOUR money as a loan.
the bank risks no assets and you get conned out of 1-2 times the original value of the note
darthcom1 2 months ago