Personal & Family Finances -- Preventing Foreclosure

'Show Me the Note' strategy
can forstall foreclosure

 One of the consequences of Wall Street's slicing and dicing mortgages and packaging them into new investment products like derivatives is the loss of the paper trail for the actual promissory note that a home buyer signed.

Therefore, a new strategy has emerged to delay foreclosure by demanding that the company seeking to foreclose actually produce the physical note. This lack does NOT mean that foreclosure can be stopped forever, because, after some research, the paperwork will finally be unearthed.

Watch this video for more details to fight foreclosure:

Chris Hoyer, a Tampa lawyer whose Consumer Warning Network Web site offers the free court documents used to file a request, has played a major role in promoting the produce-the-note strategy.

WARNING! Not all states require that the company that seeks to foreclose first go to court to get a judgement. In some states (Georgia is one) the company only has to publish a notice of foreclosure in a legal newspaper for some weeks and then, with as little as 15 days notice to you, can sell your house out from under you on the courthouse steps, usually on the first Tuesday of the month.

Therefore, you MUST check with a local lawyer or legal aid to determine what remedy you might have to stall foreclosure by asking "Show Me the Note".

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Featured Ebook

Facing foreclosure is a really tough prospect. But there are some steps you should investigate in the Halt Foreclosure Manual to help you keep your home.

Don't be a Victim of a Foreclosure Scam Artist

No matter how much trouble you are in, things can get even worse for you if you fall into a trap set by a foreclosure scam.
  • Don't pay a fee to a counseling service. You can get free help from a HUD-approved counselor.
  • Run, do not walk, away from anyone who pressures you to sign papers right away. Or tells you to sign or transfer over the deed to your house.
  • Only make mortgage payments to YOUR mortgage company unless you have their approval in writing.
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