nancylebov (nancylebov) wrote,
nancylebov
nancylebov

Produce the note!

http://www.npr.org/templates/story/story.php?storyId=101665800

A bank can't foreclose on a house unless it can produce the original mortgage note-- the piece of paper signed by the home owner. As is perhaps not totally surprising, when the mortgage is sold multiple times to investors by businesses which are scrambling to make money fast, the piece of paper might get lost.....

Unfortunately, it looks as though most people would need a lawyer to use this strategy, or at least things haven't reached the point where it's typically done without a lawyer. Some judges are starting to want to see the note on their own, though.

The Foreclosure Survival Guide from Nolo Press (a be-your-own-lawyer press with a good reputation) might include "produce the note!"-- I can't tell from what's online-- but still looks very useful.
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