Legal tip to delay or even avoid foreclosure

[mckitterick]

verminiusrex suggests a way to delay foreclosure long enough to get your finances in order:

"Demand to see the note that proves that the mortgage company is owed the money. With so many trades and mortgages being bought in bulk, the companies often don't know where the paperwork is, so saying 'Produce the note' can apparently delay some foreclosures, since the companies are going to go after easier pickings first. Lawyers say that it's a good stalling tactic that may work to get finances in order, but eventually they usually find an electronic copy that is accepted in court."

I hope that none of you are facing this problem, but if you or someone you know is, this might help. Spread the word!

Best,
Chris

Comments

[tully01.livejournal.com]

It's called "right of redemption" and yes, in Kansas it runs for twelve months. You can find it at KSA 60-2414(a). BUT...you have to pay back the foreclosure sale price plus costs, interest, and taxes, and it's possible that you may have waived the right of redemption in the mortgage papers themselves.

If they can find them.....