Beat a Foreclosure,?

 Home owners try this new strategy .
Persuade a judge  to compel production of hard to find or nonexistent
mortgage document can at the very least delay foreclosure, buying the
homeowner some time and turning up the pressure on the lender to
renegotiate the mortgage.
ask the lender.  "Show me the Note"
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It's amazing what you can do. If...
    you put your mind to it.

  In article


Isn't the note recorded with the county in your area?  Here in
MN, it would take just minutes at the courthouse to produce
that document.  And if the mortgage company gets a deficiency
judgement against you, you end up paying the legal costs for
this bonehead move.

-john-

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John A. Weeks III           612-720-2854            john@johnweeks.com
Newave Communications                         http://www.johnweeks.com  
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 A4DB2C.18235918022009@news-3.octanews.net:


The mortgage companies sold the notes which got diced and sliced. It was
very easy for original documents to be lost/misplaced and some judges will
go along with only the "original"

 
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Yes John, you're right.  Every/any document necessary to establish a
lien on real property is filed with clerk and recorder's office in the
county were the property is located.  This story, if true, is
anecdotal and nothing more than an oversight in filing the documents
on this specific transaction.  It certainly isn't a strategy that
could be widely used by people facing eviction to delay the
inevitable.  Any judge who refused to accept documents that had been
properly filed in their own jurisdiction would soon find him/herself
under the scrutiny of whatever agency handles judicial discipline in
their state.

For what it's worth, I tried the link to the OP provided and the story
is not available.  Tell you anything?

 john@johnweeks.com says...

I recall reading that, this tactic has actually worked in a small
number of cases.

The important point was that, the mortgages involved had been
sold/transferred.  So the borrower originally financed the house
through ABC Bank, which then sold/transferred the mortgage to XYZ
Finance.  Then, the borrower misses payments, and XYZ Finance
files foreclosure action.

The borrower then tells the court, "I never signed any contract
with XYZ Finance.  How do you know that they have a legitimate
claim to the money or the house?  Where is the paperwork proving
it?"

The problem for XYZ Finance is to find documentation that the,
"Joe Schmoe at 456 Main Street," montage was included in some
large bundle of mortgages which were purchased from ABC Bank,
five years ago.

OTOH, there have apparently been cases where the lender was
allowed to just print up new documents which they swore under
oath said the same thing as the original, lost documents.


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