Are you about to be foreclosed upon?
One of the tactics that you can use to fight your foreclosure is to force the lender to produce the note. What this means is that in the foreclosure proceedings, the lender or their representative has to procure the often hard to find 
document.
Since the lenders have sold the note and parceled it off to many lenders, finding the original documentation is nearly impossible. Without the original mortgage document the proof of the debt is impossible to prove.
This can allow a judge to throw out to the foreclosure proceedings and buy the homeowner more time to pay back their debt.
So if you are fighting foreclosure, make sure that you ask the lender to produce the note. It may stop the foreclosure in it’s tracks.
During the real estate frenzy of the past decade, mortgages were sold and resold, bundled into securities and peddled to investors. In many cases, the original note signed by the homeowner was lost, stored away in a distant warehouse or destroyed.
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. chicagotribune.com.
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{ 45 comments… read them below or add one }
This is turning into a pretty hot topic, we've even seen it on the news channels this week.
It seems like a last ditch effort to stall, but I can see why people would do it and if the lenders don't like it they can just come to court and produce the note and be on their way.
This is a common tactic used by real estate attorneys who have been hired to "buy" clients more time and or keep them from becoming foreclosed on. The problem with the Tribune article is that the note is not as difficult to obtain as stated. Older homes can pose a problem, but the newer home notes are easily verifiable.
I have never heard of such a thing, but it would make sense. I wonder if they have to produce the original document or a copy.
Thanks
Actually, in Texas anyway, the note is available through the county recorder. I find them easily when I research possible loan refinancing. I can see how this tactic will stall for a short period of time…not very long, though.
The original note is not on file with the county recorder. It would be considered a copy! And from my understanding, the mortgage company must produce the original.
In truth, they have to produce the ORIGINAL document, not the one recorded with the County Recorder- it's a bearer document, copies DO NOT COUNT in this. Without the Note, they can't act in foreclosure and a few other details in this space.
It is my opinion that this will undoubtedly work for all ARM loans (even in Texas Mr. Frey) because once the loan was sold and the rate adjusted it no longer reads the same as the original papers filed with the county recorder. If the banks get the papers (notes) from the county recorder and tries to submit these papers into evidence then one of two things must take place. If the homeowner paid the higher mortgage payment of the ARM for a few months then the court must compute the numbers and off-set the overpayment, or the bank get charged with submitting a falsified document
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-…
This is the first time I have heard about this. I like to hear about new and inventive ways to help my clients and this is one of them. Thanks for the great post!
This is far from a definite defense. It is also risky. On another site they linked to an interesting discussion on "Produce the Note". I went there and read it. It is worth reading. It was at http://www.eagledepot.com/
In all of this frenzy. There is a win, win for both parties. Sorry this has happened. But if there was seller financing involved. Either party approach the other. Seller; Ask if you can have the house back without placing a foreclosure on their credit record (which will be there for 10yrs.) Payor will still have to leave the house. If your the payor ask the seller if they will take the house back(signed document). We will move out and its a win, win. Seller doesn't have to go through foreclosure proceedings. Which can be very costly.
Seller; I could help simultaneously sell your note to a buyer. You won't have to worry about monthly payments, advertising and any other cost.
Unfortunately this strategy won't work for families in the state of Arizona. Most foreclosures in Arizona are non-judicial and lenders only need to produce notes in judicial foreclosures. There is a lot more importance put on the Deed of Trust, which is already on record.
This isn't accurate… But it requires you have the moxy to file a suit contending that they're not entitled to file the motion (which still has to be done) to sell substitute trustee- or be able to retain counsel to do it…
http://www.consumerwarningnetwork.com/2009/03/05/…
HEY GUYS, I DIDN’T EVEN SIGN A PROMISSORY NOTE. I ONLY SIGNED THE MORTGAGE SO THE PROPERTY COULD BE USED AS COLLATERAL.
AND THE LENDER STATED THAT THEY CANNOT LOCATE THE NOTE . HOW CONVENIENT IS THAT . THEY HAVE A PHOTO COPY OF MORTGAGE BUT NO PROMISSORY NOTE. SEEMS TO ME THEY WOULD BE OUT OF LUCK AND THE HOUSE WOULD BE FREE AND CLEAR WITH OUT PROMISSORY NOTE PROOF. THEY DO NOT EVEN HAVE A PHOTO COPY OF THE PROMISSORY NOTE….
The “produce the note” strategy doesn’t work if you have a dishonest judge. (http://www.consumerwarningnetwork.com/2008/06/19/produce-the-note-how-to/)
I am one of the pioneers of the “produce the note” strategy. In my case it didn’t work. But not for lack of trying. I asked the bank. I asked the bank’s attorney (who I totally shut down at my first hearing only to have the judge step in and prosecute the foreclosure), I asked the judge. All he said when I asked was “duly noted”. Of course he ruled for the bank and of course the Sheriff proceeded to sell my land sans note as well. My home was seized at gunpoint on June 28, 2007. My personal belonging stolen and held for ransom. My 19 year old son and myself kidnapped at gunpoint and held against our will for 24 hours. I was facing a charge of “obstructing and resisting” (facing a $10,000 fine and 9 months in jail) which I dismissed on August 31, 2007 proving prima-facie that the whole thing was a sham. One of the points you all are missing in the foreclosure issue is that the banks don’t loan anything. The funds are created when the (so called) borrower signs the note. The bank then drafts a check made out to the “borrower” which the bank has the “borrower” endorse, which the bank then deposits into an account (as the bank’s asset) unbeknown to the “borrower”. The “borrowers” signature in fact just paid for that home in full. The note is an even exchange (consideration) for the land (and it’s structures). Further, the fact that the bank never signs anything it voids the mortgage ab initio. There is also massive failure to fully disclose on the part of the bank making the fraud even more hideous. Information sites such as this need to be getting out how things really work in the mortgage scam industry or are aiding and abetting in the perpetuation of a fraud. Thank you for your attention… Please feel free to print this openly if you so desire.
Don't believe what you just read about finding a Note. I've worked for one of the largest mortgage companies in the USA for 17 years and I've been through 4 mergers and name changes. Today's technology and filing of documents could not be any better. If the mortgage company has a GOOD lawyer all he has to do is pull the credit report to prove that this individual under this same SS# has been making his payments for over 15 yrs faithfully – why now all of sudden he's not liable for the debt? The Judge would have to pretty STUPID to believe that one. You best try something else because guess what? 98% of the time the Note is kept in a fire proof cabinet. How do you think the lien gets released when the loan is paid in full? Nomatter how old the loan is.
you must have retired before 2005 and MERS started recording documents eather that or youve been living under a rock some where.
I agree. While most states required each document to be filed it became too much work so MERS was created.
However, electronic filing is not accepted for forclosures in many states and this is why many banks
had to stop and look over all documents last week.
This strategy, if done correctly, does indeed ,work. The notes are 6undled together and sold in quantities in the 1000′s. we give the information for free here in Las Vegas Vegas. Call Mark 702-’l16-3352 and attend these powerful Seminars. Take the information and teach vourself. There is so much more than just “Producing the note”. Right now just in Vegas and California we have 1000′ s of cases under. attorney’s and not 1 of them has been able to provide the information our home owners ask for.. A judge (mentioned in website) recently asked us to at acquire gathering people for a consumer action lawsuil
This strategy, if done correctly, does indeed ,work. The notes are 6undled together and sold in quantities in the 1000’s. we give the information for free here in Las Vegas Vegas. Call Mark 702-416-3352 and attend these powerful Seminars. Take the information and teach vourself. There is so much more than just “Producing the note”. Right now just in Vegas and California we have 1000? s of cases under. attorney’s and not 1 of them has been able to provide the information our home owners ask for.. A judge (mentioned in website) recently asked us to at acquire gathering people for a consumer action lawsuil
Does the Produce the note statigy work in a non-judicial state?
If you live in Arizona, you can contact me in Tucson at 297-8572 (answering machine picks up first). I work for the company that has prosecuted the only 3 successful cases through the Arizona legal system where, in the end, the only thing the owner owed on the house was the legal fees (15-25% of CMV — see zillow.com and bankofamerica.cyberhomes.com to see what that might be — depending on whether you paid legal fees up front at 1.7 of Current Loan Value or not.) You also might be able to walk out with cash in the pocket wtihout paying anything if you don’t want the house. The process takes around 6-12 mo. We are still taking appointments and even have appointments on this Sunday if you call me.
What you will need to bring to the ~1hr appointment (or send by email if not in Tucson area) are all the documents you received at close. Pima County Recorder’s office told me that they have a copy of all that but when my friend went to get her copy because she is careless with documents, they only gave her the deed of trust. You will need more than that as a forensic analysis will be done of your loan to see if there are any errors n the loan itself that prima facia will qualify you. If you have a MERS number, then you also probably qualify.
Here are some don’t qualifies:
NO Credit Union, USAA, Wells Fargo (probably) or private money loans though we have other products that might help you such as loan mod (with in AZ) and a way to use debt to pay off your debt (see http://www.primeequitybuilder.com/freeanalysis — Beth H. in drop down — to see what it can do for you. Contact me to sign up for a free 7 day trial. Works anywhere, not just AZ.)
NO Bankruptcy in process or conlucluded within 6 months
Loan will likely have to be a 2007 loan or older.
Beyond that, call me (as I have been having computer issues) to get an appointment in Tucson (though you only have to be in AZ) at 297-8572 (3) where my answering machine will take your information and I will get back to you.
Understand, no promises as you have to qualify and we only take clear cut cases. Also, no know-it-alls who think they can improve on what we are doing. We already had a real estate broker like that who insisted on altering our filing. As a result, he is the one case in four which did not conclude well as the judge required a bond to be paid to proceed. We will refund any money after the initial $1500 if your case is not successful as if we loose (and it wasn’t because you were a intruding know-it-all), then it is our fault. We are that confident of our success. (Do note what the Attorney General of Arizona is threatening on doing.)
And do get in quickly as we don’t want to take more cases than we can handle and Congress is bound to shut this down in the not too distant future because the banks will insist upon it.
Oh.
I’m Beth H.
520-297-8572
Ok, i think i finally have it… There is a huge trust fund out there with my name on it and an account too. I wrote a check (negotiable instrument) or note (kinda like a federal reserve note :-} Now, I'm the one that gave them the note and what did i get in return? Federal reserve notes or actually numbers, electrons creating numbers in an accounting process. Can I cash in the federal reserve notes for gold or silver as required by the Constitution? No! Hmm so what did I get from them? Some say they gave me the title to the property.. i simply asked did you ever have title to the property? No! So you can't give what you don't have… silence (is acquiescence in their world, fine i hold them to it). So what of Value did they give me in return for my note?? Nothing but a bunch of smoke and mirrors!!!!! Lies and deceits, which of course is fraud in the inception which makes the contract void. Speaking of which where is the other signature? on the contract?? No such thing as a one sided contract!!
Ok, so they are making a claim… what is their claim? That i owe them money?? There is no money so how can i pay back something that does not exist? They were injured or hurt in some way? How? the cost of creating the fraud, smoke and mirrors in the first place?
Ok, so they say I have defaulted on the "loan".. i say i gave them a note that had/has full face value (check UCC) they took that note.. what did they do with it? Did they put it in a safe for security till I pay in full and then return it?? No they monetized it and used it, sold it, exchanged it etc. So they got value out of it didn't they? So what is their loss? They gave me nothing and in return got value to use and make more value from.
Here is the question, I gave them a check.. did it bounce? Show me where it bounced!!!! By the way, is it not reasonable to require YOUR note back? Last but not least, the Note that they printed for you to sign is actually a fraud because it says "In return for a loan i have received, I promise to pay,….." Has anyone ever received a "loan" before signing the note? No!!! because they don't have and aren't allowed to Loan bank notes or depositor notes so they need your note to create or exchange for federal Reserve notes. Ok, another way… if you have forty dollars in your pocket and you loan me twenty, how much do you have in your pocket?? twenty right? Your out twenty cause you loaned it to me. So how come the banks start off with nothing and after you "borrow" the twenty they have twenty plus eighteen plus 14 plus what ever else they do with it to make money. Ok, Remember when you had to show where your deposit money came from?? So why can they not show where the twenty came from?? Should be simple, we took it from here, there is the record of it and we built this, made this, provided services there to earn the money we loaned… Not!!!
Get it? it was a trick to get us to turn over our labor three four, ten times over. This is what i think happens. They take your note, deposit it into an account then the feds print federal reserve notes based on that note, charge the United States bonds that earn interest in the same amount and we work our asses off for the next twenty years to "pay back" with interest three times what we didn't borrow. Due to fractional lending they use that note over and over again or rather the deposit account over and over again 90% of what is left each time, print more money get more US bonds and build great big buildings, create wars to "loan" that money to countries at interest to fight a war they created.. What a scam. it is time to stand up.
One other thing, though we are NOT subject to the Constitution, they ARE! Article 7 states "in all cases where the amount in controversy is greater than twenty dollars, the right to trial by jury shall be preserved." So why can I not seem to get a trial by Jury?? Dough, because the courts and Judges are corrupt too? ya think? Now here is the kicker, ….. ready? … They are there to protect us… they work for us!!! So why do we keep begging, "pleading", "motioning" requesting, jumping through their legalistic rings to end up broke and violated??? Simple, no backbone!!! Americans have NO BACKBONE!!!!! I can't find even one person who is willing to be a witness, that is all a witness. "can i get a witness?". here is why, "by the testimony of two witnesses they can be charged with treason". They are required to swear and oath to "support the Constitution". If they don't know it they can't support it. "Shall be bound by this constitution" Can't be bound if ya don't know it. Don't know it, committing fraud, fraud is a federal offense, you,,, yes YOU may, should, must Arrest them!!! Can i get a witness? With so many jobless and homeless people out there i should be able to find a witness….. Step up! if your in Maryland please make contact so we can begin this process of cleaning up the scum. America, lets get our house in order!! it is time to clean house!! Please help before they take everything. Email my friend at miracore@rcn.com he needs help writing and filing claims against them.. Anyone? By helping him you will help yourself. I guarantee it and my note is good for full value ;-}
I'll back you up! I'm ready to kick ass!
Want to renegoiate with holder of 2nd and MERS is named beneficiary and BofA has note as it bought out countrywide and was sold to country by lst F. Bank, was going to do modification till found out it was no good for us, and we were not told this, had to find out for ourselves. Then since not in foreclosure we just want to negoiate with 2nd note holder and have been on a Merry Go Round ride each time we have made this request and thru faxes and many written request have yet to have request of original note meet. We are to old to have a foreclosure or bad credit on books and should we be younder it may be different. But that is not an option for us. We just want to see if we can negoiate. the 2nd and should this work out go from there. What do you suggest please let me know
To Much Information yet not enough!!!
Nebraska
Hello everyone
well first to all of you that don't think “Produce the Note” works think again it does, but don't think that you can stay with the home free and clear, all it does is gives you leverage against the bank. it opens the door for you to talk to the bank that didn't want to help before, but now has no choice "leverage" I do this every day i help people that want help… I do not ask for any money up front and those that do are most likely scamming you, its more than “Produce the Note” involved that's just stage one of the battle if you need my help i will do every thing i can for you to stay in your home.
Eli Cruz =469-737-9530 or
email me at elicruz@the-remnant-corporation.com
Hi Eli,
I just called and left you a message. Please give me a call back when you have time. Thank you!
Best regards,
QT Tran
714-251-9205
Hi.
I think you guys are going the wrong way in fighting foreclosure. Why go through the extensive dealings with trying to make them produce the note?
I know of a way to FORCE them to produce the note. And not a copy of it. That is fraud using a copy. Electronic Negotiable Instruments have no law to support them.
For some, including lawyers, do not understand what is taking place right now. The banks have committed one of the biggest frauds the people will see. This is the truth.
As if you did not know, and they will surely not tell you, your mortgage was destroyed most likely within 5 days of you signing your paperwork. Think I'm lying?
How about proof?
I would like to provide you with a couple of articles that will greatly enlighten you on the Mortgage crisis.
You must understand these, as they explain why we are in the mess we are with the banks.
Check them out. Verify them. They are accurate and factually backed by law. You may find this to be a global issue?
I will be happy to talk about this further, if you choose to talk with me.
You can find more information, I recently posted on Scribd.com. Look for "Lost Candy Bar – The Scenario", and its companion graphic to see the big picture.
Humpty Dumpty – The Secured Debt
http://www.scribd.com/doc/32122768/Humpity-Dumpit…
NSHAN – Have a Note – The imaginary way the banks do….
http://www.scribd.com/doc/32143612/NSHAN-Have-a-N…
There are charts, and more.
Regards,
AlvieC
I truly believe, that when the people find this out, they will not be happy.
Disclaimer: I am not a lawyer, I do not play one on TV. I do not give legal advice, nor is what I provide substitute for legal advice. I provide an education.
I am not doing this for money, as others are doing, however, a donation would be appreciated, if this helps you. Our articles are free, but understand we need to eat too.
Here in florida they DO have to produce the note when its requested due to hundereds of foreclosures where more than one entity is claiming the right to foreclose thanks to the brilliant bankster fraud. “And NO they don’t have your note in some fireproof fault cause your note has been destroyed in the hopes of covering up some of that fraud. Ask for your note, they can’t produce it…..
Wells Fargo just sent me a copy of the note, I had asked for a twenty eight day extention after the lis pendens was filed and had not requested the note yet they just sent a copy to me anyway. Any thoughts for my next step I have one of the pick a pay loans which originated from world bank.
This artcile went ahead and made my day.
They won't send you the original note. But they should have to provide it for your inspection. Tell them a copy is not sufficient and that you are not requesting the original be mailed to you, just that you want it made available for inspection. Do everything via certified mail.
You raise a very valid point. I appreciate how you wrote it.
Banks are engaged in massive foreclosure FRAUD (even with blessing of courts in Florida). Evidence is in the public record… exposed by ROLLING STONE Magazine article this week by Matt Taibb issue #1118 Nov. 25, 2010 pg. 66 and online at rollingstone.com http://www.rollingstone.com/politics/news/17390/2…
I read this article. Is was so enlightening.
Could anyone give feedback if the house was foreclosed a month ago? Any program could help? Thank you so much for your advise.
Special guest
To james :
Go to http://www.Naca.com. join there workshop. Follow their instruction. your can save your home for sure.
My house foreclosed in April 2010. I am still in the home. I joined naca this weekend.
Never take cash for key.
IM IN MARYLAND…. R THERE ANY GROUPS IN MD?
I live in Hawaii. My father took out a reverse mortgage 4 years ago. He died last year (he was in his 80s) and now we received a “notice of sale” on our property. We didn’t even get a notice that a foreclosure of our property was filed in court. Aren’t we supposed to get one before the “notice of sale”? I don't know how reverse mortgages work except for the commercials on TV (they make it sound too good to be true). So I asked my brother for a copy of the mortgage. After reading it (I was a little confused by some of the wording) I found a clause in there that states that if the borrower dies, the lender has the right to collect in full. I ask my brother if dad was told about this clause and he said no. I also asked him if dad was offered “mortgage insurance”. My brother wasn’t sure.
This reverse mortgage sounds like a scam to part senior citizens or their heirs from their homes. Can this “produce the note” help my brothers and me?
i am in a trial modification with wells fargo and two weeks ago i received a summons from a law, reprcenting wells fargo telling me that i had no mortgage on record. i live in the sate of new york, do you think i have a bargining chip with the bank to get a permanat modification
If you have no mortgage on record, how can they foreclose?
Has the "Produce the note" strategy been tried in Texas? We have 90% republican judges, they will NEVER go against the BANKS!
we need help in texas our home is about to foreclose in 2 1/2 weeks we cannot afford an attorney and we are getting no where with the new loan company which is already our 4th company in 4 years any help or advice as where to go or should we just pack up and be ready to move come May 3rd when they sell it at foreclosure auction?????
I was not able to post on Austin Lawyer's blog, so if anyone knows him,please pass this on!
Austin Lawyer, I suggest you do more research! The banks know they've already violated numerous federal and state statues long before foreclosure and sale……..I've already been able to hold off my lender for 10 months with just a letter. We know eventually that we'll have to go to court, but by then we'll have more ammunition against the bank! We plan to expose their weaknesses! After we do,they'll have thousands of lawsuits to contend with! We're going expose them first, then kick their ASS! Even with the corrupt Judges in Texas, we'll be able to do tons of damage to these thieves!
If you don't fight for your home, you deserve to lose it!
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