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

[roya-spirit.livejournal.com]

Thank you.
To our favor, we managed to rescue our home at the last day before the courthouse sale, and have kept it current ever since, and for that, I'm grateful.

[mckitterick.livejournal.com]

Yowza! I didn't realize it had been that close....

[roya-spirit.livejournal.com]

Yah, it took us time to scramble and get what we needed together, but the good thing is that it can be done.. no matter how bad the situation looks, there can be a way to fix it, even at the very last minute.
AND knowing what we know now, we would have done it differently.
The banks and what-have-you sure have the common folk over a barrel due to ignorance of the laws.

[tully01.livejournal.com]

Cheers for the successful rescue! Amen to the barrel. Lawyers can have their uses, even if they should be kept chained and muzzled most of the time.