How to Use Produce The Note to stop foreclosure and save your home

"Produce the note," may be the term that saves your home. The gunslinger attitude that produced this mortgage melt down with its fast pace and often sloppy paper work may have left a loop hole that will cost them. The high cost and subprime loans offered a lucrative investment opportunity often the day after the loans closed they were sold on the secondary market. Thrown into investment trusts, bonds and other high yield funds or products it is hard to know who really holds the note. The consumer deals with processing companies that collects and distribute the funds. The sale and resale of your loan is transparent to you, your payments are made to the same servicing company. These servicing agency's act as the middle man if you enter default or foreclosure they remain the face that handles the transaction. Even if your loan was with a bank often they no longer hold your note and are only as the servicing agent.

Things You'll Need

• Lawyer
• Copy of foreclosure law

Instructions

1. 

   My disclaimer
   In no way am I offering you legal advice this information is offered to encourage you to look at options. This may be something that will work for you I suggest you speak with a lawyer in your area to discuss this option.

2. 

   How does it work
   There is a legal term "discovery" it is used when involved in some form of litigation. In short it means prove it. If you say that I owe you, then produce a document that proves it. This document must have my original signature acknowledging my acceptance of the obligation. The court may accept an electronic version of this document. If the note holder can not produce this document then they can not prove the debt. In short they can not prove their foreclosure claim against you this can put the action on long time hold or even dismissed. In most cases it will simply delay the action until the note holder can produce the needed document

3. 

   What kind of loan do you have.
   Government secured loans tend to have more complete paper work. The notes are sold to FANNIE MAE or GINNIE MAY and must meet guidelines before purchase. These are called A & B paper they offer investors lower yield but come with less risk. This tactic can still work to buy you time.

4. 

   If you have a non-government loan often called non-conforming loans. All of these loans are not sub prime loans but, because of the property or the borrowers the loan will not meet the guidelines for the government grantee.

5. 

   What if you have a sub-prime or high cost loan?
   These are the loans that offer the best chance of success. These are the gun slinger loans where paper work was often hurried and sloppy. Rapid a frequent change in note ownership makes them susceptible and deserving of successful implementation of this tactic. You will know that there is a good chance this will work if you ask the person on the other end of the line "Who holds my note?" and they go silent.

6. 

   six When should I do this?
   Show me the note, should not be used lightly. It is suggested the it should be one of your final shots across their bow. Play the hand too soon and they will bring your note with them to the foreclosure healing. Your lawyer will tell you how to play this card. It may simply buy you enough time to get your money together. It may give you more time to sell your home, get a new loan or move out on your terms. It is nice to know that there may be a gotcha ya back opportunity or perhaps it is the common mans bail out in the banks mismanagement of this whole situation. I am including a link to a consumer organization and a TV news story that gives more detail on this tactic.
   I hope this helps someone
   GODs Blessings Require Your Participation

Tips & Warnings

• Talk to a lawyer

• Know the law in your area

• Don't expose your intentions until ready

• Don't use this as your only plan it may not work

• It may not work

Resources

• Show me the note more info
• Show me the note on TV news
• Alarcon Group