Produce The Note

One of the more interesting things we saw this week was a new foreclosure stalling technique called, ‘Produce The Note‘.

This is an interesting glitch in the foreclosure process in some states where the homeowner being foreclosed on simply shows up at the court foreclosure proceeding and requests that the lender actually produce the note that they are claiming to have control over and under the authority in which they are actually foreclosing on the property.

You would think the mortgage note would just be one of the many documents they would show up to court with, but with most home loans being sold numerous times since the actual signing, the chances of the lender having the original note handy or even available in any capacity is slim to say the least.

There is a website setup to highlight this practice and to share the success stories of those that have used it, it’s Produce The Note. They even have forms to help some of these soon to be homeless people make an official request.

Although this doesn’t seem to be a solution to the problem, it does look like a pretty easy to use tool to create a little more breathing room and possibly find a permanent solution.