"Produce The Note" Movement Helps Stall Foreclosures
source: http://www.huffingtonpost.com/2009/09/22/whos-got-the-mortgage-pro_n_294169.html
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http://www.huffingtonpost.com/2009/09/22/whos-got-the-mortgage-pro_n_...
Remember those playground words "prove it!"?As the foreclosure rate continues to set new highs, a little-noticed legal provision that requires bankers, if challenged, to prove they hold the original mortgage documents before getting possession has spawned a minor homeowner rebellion, alternately called "produce the note" or "show me the note". For homeowners trying desperately to keep their homes, the tactic is one way to buy some time -- and maybe even get the upper hand on the lender.
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