Three words to stall foreclosure: 'Produce the note'

That is just great . . . just what we need . . . someone telling the scammers how to further avoid their responsibilities.

I am sick to death of all of the game playing by these irresponsible parties to not handle their resonsibilities and to pay for what they contracted to buy . . . especially an overpriced home that they are currently living in . . . right?

The writer of the other comment makes the point that he is "not an attorney" with the inference that THOSE GUYS are masters at "gaming the system" to avoid paying. You know, it is EXACTLY that type of thinking, and attitude that has substantially helped to lead our country to this economic debacle . . . TOO MANY people 9and businesses0 are trying to "game the systems" like "hair splitting attorneys . . . and it is all a buch of CORRUPT FRAUD; it isn't "smart business, it is premeditated FRAUD. And there has been so much of that, that it has collapsed our economic system. Is this what our civilization has come to?

The economic damage is THE PROOF of it all.

if we cannot INSTILL INTEGRITY into our business enterprises and government, all is truly "lost"; we will never fully recover. Our legal system has been corrupted by attorenys 9and judges0 "splitting hairs" legally to get away with crimes and fraud . . . it became the chic thing to do . . . and now we pay the price for all of that corruption.

I'm not a religous person even though I was reared in a very religious family. I can remember my father saying that people needed to "get wright with God". Well that is well inteneded; but people need to "get right with INTEGRITY, ethics, and morality of it all. otherwise, we are going to become like some third world country where everything is corrupt.

BHarrison - Nothing wrong with asking for the paperwork in my eyes. Yes, it's just a delay, but if the banks cannot "produce the note", then it's their own fault, not mine for asking for it.

The produce the note statement is going to be relative to the state law in which the property lies. What constitutes "default" varies between 30 days and 2 years, depending on where the residence is.
However, it is a good point and anyone facing this situation would be wise to look into it. Checking with an attorney would be a must as there could also be penalty for lying about an obligation.

Does someone really need the note to show that they have to pay their mortgage. I can understand if there is an ambiguity that you need resolved by the K, but if your not paying your mortgage while simultaneously asking for a document that will add nothing to the situation but stave off inevitable, you are probably acting in bad faith.

i'm sure in court there's always the possibility of bringing up your acknowledgment of the debt, if you have been making mortgage payments consistently in the past. same principle as other debt

Peter, I hope you read your comments -
nothing to do with blog,, however it would be interesting to put the TV on. Take a look at all those that are now in the mortgage mitigation business. Check out some of the names? I don't think that the Feds. are sponsoring these people nor do I think that they have a staff of lawyers handy.
Sound like the mortgage expect that will get you the loan?
I don't believe this, but! Regulation failure is what created this mess and I would think that anyone in that position would now be in self preservation mode and yet it appears that the vultures are still on the carrion. If our leadership and those that they put in charge are this G.D. stupid than madame LaFarge is around the corner.
Take a look. This crap is enough to knock your socks off and it for sure - a scam.

It actually does the banks a bit of a favor. It gets rid of the burden of them taking the property and having to get rid of it. This is just a temporary technique for homeowners to be able to buy time to come out with a plan (not a free ride which many people I bet are thinking). Also, it shows how sloppy this whole "loan-selling" business is and it really is the folly of the bank and the whole system. I bet banks are going to become more flexible with homeowners and their mortgages unless they want a flood of foreclosures coming up (I believe millions of people are facing foreclosure now.) and it will be impossible for banks to sell the property.

Here is a bunch of videos that I found that explain how to go about the 'produce the note' strategy in a brain-dead simple way:

http://www.butasforme.com/2009/03/11/produce-the-note/

I can't believe anyone would support the banks and then claim to stand on morality! The reason why the "produce the note strategy" is smart is that by law, only the holder of the note can foreclose. If the debt servicer does not hold the note and you make payments or give-back your home to the debt servicer and then the TRUE holder of the note shows up, you are still liable for the note.

Free Report on How to put the “Produce The Note” Strategy to work for you, and Stop Foreclosure!

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Produce the note is only the start of the proper process to prove (and defend against) a foreclosure. As an attorney practicing this law on both sides of the case for 28 years I can say that it's time to get back to basics of enforcement.

A lack of regulation and the unbridled greed it has spawned has created a chaos of ownership. Home owners or buyers have listened to the siren calls of false value preached by middlemen lenders who worked on the flip/commission, which song was repeated by these enablers to the the last and greater fools: the ones who bought the securities based on them.

How do you begin to fix the problem? Strict enforcement. Starting with the produce the note request. In fact it is a requirement of proof often overlooked by judges in a onesided foreclosure (where the home owner doesn't even show up to fight) case who instead just rubber stamp the proposed judgment from the lender, without really looking at the file. I mean, if you don't think enough to even show up to fight why should the judge think enough to scrutinize the elements of proof?

There are real legal cases of more than one lender trying to enforce payment of a single note (and debtors being liable to pay twice - compare this to the real life cases of homeowners having to pay twice for construction work/liens on their homes) and these come from times in the past where there was not the flipping and trading and successive servicing, securitization and fragmentation of mortgage debt among so many entities. Many of these recent notes have not only been lost but they don't know who their daddy is. It's like father's day in a bee hive.

And you certainly don't want to end up paying twice for such bad bookkeeping.

Gregory D. Clark, Esq.
Clearwater, FL
www.gregorydclarklaw.com