Home Foreclosure Help Line

Stay Put Produce the note Follow the law Wall Street and its co-conspirators on Main Street had a great plan. Step 1: Ram predatory loans down the market with fraud and deceptive marketing. Step 2: Some of the loans will blow up, but in the aggregate it will all work out and besides, the loans will be bundled and sold off to investors (spreading the toxic waste), so who cares? Great plan, but it had a few problems. Problem #1: It destroyed the world financial system (minor detail) Problem #2 (And he’s where it get VERY interesting…) For a loan to be valid, the lender needs to be able to produce the paperwork. Guess what? In their mad greed to screw the American people and line their own pockets, Wall Street forgot that little detail. Many of these loans and been sliced and diced and sold and re-sold so many times that not only is the paperwork not easy to lay hands on, in some cases, it’s not clear who actually owns the loan. Here’s where property law comes in. If the bank can’t produce the documents and the real owner of the loan can’t be identified, the contract is null and void. You’ve got to hand it to Congresswoman Marcy Kaptur (and Ohio which produces a lot of great Congresspeople.) By telling a bank to “produce the note,” a homeowner can delay foreclosure by forcing the lender to prove the suing institution is actually the same which owns the debt. Now, the banks own sloth and disorganization (and inherent dishonesty) can be used against it. Final word: The media …
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