Foreclosure? Make Them Show The Original Note

An attorney who represents people in foreclosure says that 40% of the time you can halt a foreclosure at least temporarily or even get the case thrown out of court if you demand that the company claiming that you are behind on your mortgage simply produce the ORIGINAL NOTE in court. He says 40% of the time they can’t even find the original note. I suppose the more your mortgage has been packaged, bundled, and resold, the better this might work. Then you could ask them to show the original note PLUS all the documentation to prove that the company suing you is actually the legal owner of the note.

On the interview he didn’t say whether this was requested in the discovery process or in court itself. If they can’t find it, they can’t find it.

It’s a good question. After all, anyone can put anything into a computer to say you owe something.

It’s not unusual to see reports of people “burning their mortgage note”… after paying the required amount, they burn the original to signal that no further obligation is owed.

What this attorney is saying is that these original notes have often been lost and there may be no legal proof that you owe anything.

Of course the other side will say that you were paying for some reason and that’s an admission that you had incurred a debt.

Still, what have you got to lose?

Note: I heard this while in my car. Sorry I don’t have a link for you to read more. If you have one, please leave it in a comment.