The New York Times covered the phenomenon of the missing mortgage note and its impact on the foreclosure process. Namely, lenders unable to produce the original note signed by the borrower are unable to foreclose on the property. We covered “produce the note” earlier in the week, and apparently, more and more foreclosures [...]
Good Morning America, CNN and others have highlighted a new tactic that home owners facing foreclosure are using to stall the foreclosure process: asking the bank to produce the note. The basic idea is that the home owner facing foreclosure is entitled to a copy of the original note that they signed mortgaging their house. [...]
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