If your bank/lender does not have the original unaltered wet ink signature NOTE they do not have the authority to foreclose on your property. Learn your rights and learn how to save your home. Foreclosures are up 45% and only 2-4% of all modifications have been approved and performed. Interested in learning more or how to fight on your own attend SEMINAR listed below.
PROCEDURES TO USE
After the writing of this Article I have researched and found some greater methods producing the NOTE is part of it but in a different aspect to see more and see updates to this process please click this http://bizcovering.com/real-estate/keep-your-house-fight-foreclosure-fraud/ , learn how you can uncover the fraud of in your forelclosure and learn how & why you can sue your bank for triple the damages plus pain and suffering. Interested in learning more or how to fight on your own attend this Seminar www.attorneyprod.com LIMITED SEATING AVAILABLE
“PRODUCE THE NOTE”
There are two types of foreclosures, judicial and non-judicial. In some states, a lender can foreclose on your home without going to court, this happens when you sign a deed of trust at your closing. This occurs in states that allow non-judicial foreclosure. Keep in mind some states carry both judicial and non-judicial foreclosure laws. Producing the note is only the stall tactic but also another key to the rest of the process.
You can still use the “Produce the Note” strategy in these states, but it takes a few more steps on your part.
The premise for using the “Produce the Note” is this: When a homeowner is faced with a foreclosure suit, “Produce the Note” requires the lender by law to prove it has the actual authority to foreclose, by requiring it to officially produce the original wet ink unaltered promissory note in the lawsuit. In addition to the Producing the Note the Pretender lender must prove standing! 85% of the time the so called lender cannot.
But if there is no foreclosure lawsuit, what can homeowners do? In these “nonjudicial foreclosure” states, such as California, Texas, or the thirty or more other states with similar procedures, the homeowner has to file a lawsuit against the party trying to foreclose. If you live in a state that has a Right of redemption period you can also use this process. Keep in mind even if the property sold at auction you have the right to still fight for your property.
Published in: Personal Finance