Sir_Winston54
Assume the position!
- Joined
- Jul 15, 2004
- Posts
- 14,027
I don't know how many - or if any - of our friends here (or friends of people here) are facing foreclosure issues, but I thought this article was an interesting piece of information that just might help anyone who is.
MUCH more information in the MSNBC article, linked in the headline for those interested.
New foreclosure defense: Prove I owe you
Homeowners demand lenders produce original documents — some can’t
AP
ZEPHYRHILLS, Fla. - Kathy Lovelace lost her job and was about to lose her house, too. But then she made a seemingly simple request of the bank: Show me the original mortgage paperwork. And just like that, the foreclosure proceedings came to a standstill. Lovelace and other homeowners around the country are managing to stave off foreclosure by employing a strategy that goes to the heart of the whole nationwide mess.
....
Persuading a judge to compel production of hard-to-find or nonexistent documents can, at the very least, delay foreclosure, buying the homeowner some time and turning up the pressure on the lender to renegotiate the mortgage.
....
The first big success of the produce-the-note movement came in 2007 when a federal judge in Cleveland threw out 14 foreclosures by Deutsche Bank National Trust Co. because the bank failed to produce the original notes. Michael Silver, a lawyer for two of the families in that case, said at least one eventually lost their home. Still, he considers that a success. "From the perspective of the person who's in the home, you may have kept them in the house another 10 or 12 months," he said. "If I can get a result with economic benefits to a client, then I think I won."
....
April Charney, head of foreclosure defense for Jacksonville Area Legal Aid in Florida... now travels around the country to train other lawyers in how to use it. She said she has gotten cases delayed for years by demanding that lenders produce paperwork they cannot find.
Homeowners demand lenders produce original documents — some can’t
AP
ZEPHYRHILLS, Fla. - Kathy Lovelace lost her job and was about to lose her house, too. But then she made a seemingly simple request of the bank: Show me the original mortgage paperwork. And just like that, the foreclosure proceedings came to a standstill. Lovelace and other homeowners around the country are managing to stave off foreclosure by employing a strategy that goes to the heart of the whole nationwide mess.
....
Persuading a judge to compel production of hard-to-find or nonexistent documents can, at the very least, delay foreclosure, buying the homeowner some time and turning up the pressure on the lender to renegotiate the mortgage.
....
The first big success of the produce-the-note movement came in 2007 when a federal judge in Cleveland threw out 14 foreclosures by Deutsche Bank National Trust Co. because the bank failed to produce the original notes. Michael Silver, a lawyer for two of the families in that case, said at least one eventually lost their home. Still, he considers that a success. "From the perspective of the person who's in the home, you may have kept them in the house another 10 or 12 months," he said. "If I can get a result with economic benefits to a client, then I think I won."
....
April Charney, head of foreclosure defense for Jacksonville Area Legal Aid in Florida... now travels around the country to train other lawyers in how to use it. She said she has gotten cases delayed for years by demanding that lenders produce paperwork they cannot find.
MUCH more information in the MSNBC article, linked in the headline for those interested.
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