Get all the knowledge you can as quickly as possible if you are about to be involved in foreclosure proceedings. If you are facing foreclosure, you need to take massive action and you need to do it now.
It is scary and embarrassing to receive a foreclosure notice in the mail. This kind of fear can prevent you from taking any kind of action when it is most needed. Massive and decisive action is needed now. Hoping for a miracle won’t prevent the looming foreclosure auction. The “doing” of the owners is the miracle. Now is the time to mount a massive offensive action against the bank to stop foreclosure.
There are many ways to stop the foreclosure process. Almost any foreclosure can be stopped with this little piece of information if the bank doesn’t have it.
The key to all this is the original contract. The mortgage is not a separate document. The original contract and the mortgage together give rise to foreclosures. Without the original contract, the mortgage is worth nothing.
Using this key could save your home from a foreclosure auction on the courthouse steps. This key is an element that is often overlooked, yet it is the key to any mortgage and any lender-initiated foreclosure law. The bank must have the legitimation contract to process the foreclosure.
It is a powerful point to challenge foreclosures because most bank foreclosures go unchallenged.
Often the contract has been lost or destroyed. Therefore, it cannot be produced on demand. This is very significant and important to your case. The difference between keeping the house or not could depend on this small point.
The lender must present the promissory note/contract or provide an explanation as to why it cannot be presented. Usually something like a fire or flood destroyed it. Preserving it digitally and then losing or destroying the original is usually not a good enough excuse for non-production.
There are many successful challenges going on every day and hundreds have already challenged the banks for foreclosure and won. If you take action today, you too can be counted among those successful in beating foreclosure on your home.
Please note that an attorney did not write this. This is just an opinion and everyone has one. Try all the things for yourself. Do your research and then act. These folks expect most borrowers to roll over and play dead when it comes to foreclosures.
If your idea of fun is watching human cockroaches run for cover, just start asking the bankers where their original contract is. But get some knowledge under your belt first.