Mortgage Modification: Produce the Note Strategy

(Click "More Info" to see full video script!)
http://www.60MinuteLoanModification visit for a free CD on Mike Rockwood's experience modifying 5 of his own home loans - and how you can too. Ask Mortgage Modification questions on our forums at http://www.60minuteloanmodification.com/members


We are headed for an extended economic downturn and who knows where home values will be when we stabilize. No one knows how we will cope with the new housing market realitieswhat assistance will be lent, what sacrifices will have to be made, etc. So, fighting to keep your home seems more important than ever. Whatever the outcome of this tumble it will be (as its always been) better to own than not to own.

Im advising all my clients to file aggressive mortgage mod requests and negotiate hard. Its time to get good mortgage mods fast.

A client in WA this week used a strategy called Produce the Note. He has applied for loan mods on several of his rental homes but his current income (construction tradesman) fails to qualify him for them. He decided to take a stand and try every measure to keep his primary residence in WA. He anticipates that his income will be up by summer. He filed a formal Request for Documentation with the county court in the jurisdiction of the home. A copy of the form he used is below.

By filing this request he is asking the court to force the lender to produce the original loan docs to prove that they were executed properly and that the current owner of the note (investor) actually has a right to pursue the foreclosure. Apparently, the lenders have not been diligent about keeping a great paper trail in the sales/resale/re-resale of these mortgages. Doesnt that just surprise us?! All foreclosure activity will stop until the lender can comply

A University of Iowa study last year suggested that companies servicing mortgages are often negligent when it comes to producing the documentation to support foreclosure. In the study of more than 1,700 bankruptcy cases stemming from home foreclosures, the original note was missing more than 40 percent of the time, and other pieces of required documentation also were routinely left out.

These are the kinds of street-smart tips you need to have. For more help, get my free CD 60-Minute Loan Modification Secrets at my site http://www.60MinuteLoanModification.com

Category:

News & Politics

Tags:

• loan modification
• mortgage modification
• home loan modification
• foreclosure
• short sale
• hope for home owners
• bailout