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Produce The Note

More than 2% of the mortgages in this country are in
foreclosure! If yours is one eing forclosed on you will e
interested in reading the elow "how to!"
Produce the Note - !te"s To #ollow$
%sing the ""roduce the note" strategy is something all
homeowners facing foreclosure can do& If you elie'e you('e
een treated unfairly) fight ac*& +e ha'e created tem"lates
for a legal re,uest) a letter to your lender and a motion to
com"el to hel" you through the "rocess&
+H- -+N! TH. N-T./
0our goal is to ma*e certain the institution suing you is) in
fact) the owner of the note 1see ste"s to follow elow2& There
is only one original note for your mortgage that has your
signature on it& This is the document that "ro'es you owe the
3uring the lending oom) most mortgages were fli""ed and
sold to another lender or ser'icer or sliced u" and sold to
in'estors as securiti4ed "ac*ages on +all !treet& In the rush
to turn these o'er as fast as "ossile to ma*e the most money)
many of the new lenders did not get the "ro"er "a"erwor* to
show they own the note and mortgage& This is the *ey to the
"roduce the note strategy& Now) many lenders are mo'ing to
foreclose on homeowners) resulting in "art from "rolems
they created) and don(t ha'e the "ro"er "a"erwor* to "ro'e
they ha'e a right to foreclose&
TH. H56M
If you don(t challenge your lender) the court will sim"ly allow
the foreclosure to "roceed& It(s im"ortant to hold lenders
accountale for their carelessness& This is the iggest asset in
your life& It(s 7ust a "iece of "a"er to them) and one they li*ely
either lost or destroyed&
+hen you get a co"y of the foreclosure suit) many lenders now
automatically include a count to re-estalish the note& It often
reads li*e this$ "the Mortgage
note has either een lost or destroyed and the Plaintiff is
unale to state the manner in which this occurred&" In other
words) they are admitting they don(t ha'e the note that
"ro'es they ha'e a right to foreclose&
If the lender is allowed to "roceed without that "roof) there is
a "ossiility another institution) which may ha'e ought your
note along the way) will also try to collect the same det from
you again&
5 Tennessee orrower recently had "recisely that ha""en to
her& Her lender) 5meri,uest) foreclosed on her in 8uly of 299:&
5out three months later) another an* sent her a default
notice for the mortgage on the house she 7ust lost& !he called
to find out what was going on& 5fter eing transferred from
"lace to "lace and left on hold for lengthy "eriods of time) no
one could e;"lain what ha""ened& They said they would get
ac* to her) ut ne'er did& Now) she faces the ris* of
ha'ing her credit continually damaged for a det she no
longer owes&
#I<HT #-6 #5I6N.!!
This "rocess is not intended to hel" you get your house for
free& The "rimary goal is to delay the foreclosure and "ut
"ressure on the lender to negotiate& 3es"ite all the hy"e
aout lenders wanting to hel" homeowners a'oid foreclosure)
most orrowers *now that(s not the reality&
Too many homeowners ha'e e;"erienced lender resistance to
their efforts to wor* out a "ayment structure to *ee" them in
their homes& Many lenders ear res"onsiility for these
defaults) ecause they "ut orrowers into unfair loans using
dece"ti'e) hard-sell "ractices and then made the "rolem
worse with "redatory ser'icing&
Most homeowners 7ust want these lenders to gi'e them
reasonale terms on their mortgages) many of which were
"redatory to egin with& +ith the hel" of 7udges who see
through these "redatory "ractices) lenders will feel the
"ressure to wor* with orrowers to *ee" them in their homes&
3on(t forget lenders made incredile amounts of money y
using irres"onsile "ractices to issue and ser'ice these loans&
That greed led to the foreclosure crisis we(re in today&
5llowing lenders to continue foreclosing on home after home)
destroying our neighorhoods and our economy hurts us all&
!o) ma*e it hard for your lender to ta*e your home& Ma*e (em
"roduce the note!
!T.P! T- #-==-+
5& If your lender has already filed suit to foreclose on your
>& %se the first form& It(s a fill-in-the-lan* legal re,uest to
your lender as*ing that the original note e "roduced) efore
it can "roceed with the foreclosure& In some 7urisdictions) the
courts re,uire the original re,uest to e filed with the cler* of
court and a co"y of the re,uest to e sent to the attorney
re"resenting the lender& To find out the rules where you li'e)
call the ?ler* of ?ourt in your 7urisdiction&
2& If the lender(s attorney does not res"ond within @9 days)
file a motion to
com"el with the court and re,uest that the court set a hearing
on your motion& That) in effect) as*s the 7udge to order the
lender to "roduce the documents&
@& The 7udge will issue a ruling at your hearing& Many 7udges
around the country are ecoming more sym"athetic to
homeowners) ecause of the "re'alence of "redatory lending
and ser'icing& In the "ast) many lenders ha'e relied u"on
using lost note affida'its) ut in many cases) that(s no longer
enough to satisfy the 7udge& They are holding the lender to the
letter of the law) re,uiring them to "roduce e'idence that they
are the true owners of the note& #or e;am"le$
5 In -ctoer 299:) -hio #ederal ?ourt 8udge ?hristo"her
Aoy*o dismissed >B foreclosure cases rought y in'estors)
they failed to "ro'e they owned the "ro"erties they were
trying to sei4e&
A& If you are in default) ut your lender has not yet filed suit
against you$
>& %se the second form& It(s a fill-in-the-lan* letter to your
lender which also re,uests they "roduce the original note)
efore ta*ing foreclosure action against you&
2& If the lender does not res"ond and files suit against you
to foreclose) follow the ste"s ao'e&
#eatures The ?onsumer +arning Networ* and the "Produce
The Note" strategy&
Aorrowers are "utting this "lan into action and getting results
?onsumer +arning Networ* #eatured on ?NN
TH. =5T.!T$ Aorrower wins more time to fight foreclosure! 5t
a court hearing Tuesday) a Pinellas ?ounty) #lorida 8udge
denied +acho'ia the right to "roceed with its foreclosure
against orrower 8ac,ueline -(Arien 1"rofiled in the ?NN
story2& Instead) -(Arien was granted a continuance) as she
"ursues the "roduce the note strategy& +acho'ia e;"ressed
interest in renegotiating the terms of the loan) rather than
continuing the court attle& +e(ll *ee" you "osted!