Posted on: 16th Jun, 2011 10:37 am
house in forclosure --mortgage co has lost note can not produce --what does this mean for us?
You would want to take the lender to court, and request the court prove that you owe the bank any money. If the bank is ordered to produce the note via court order and they cannot produce, it will not look good in the courts eye. If you google the topic, you will find many cases where homeowners have gone to court and requested proof of note, no note, house was given to homeowner, with no liens...Do some research, talk to an Real Estate Attorney. Good Luck
Seems you're already in court, since the lender has begun the foreclosure proceedings, right?
By all means, you need to have legal counsel to help you out in this case - do you have a lawyer? If not, scramble around and get one right away. As Chris noted, there is a legal precedence for a matter like this where a lender cannot produce a promissory note.
By all means, you need to have legal counsel to help you out in this case - do you have a lawyer? If not, scramble around and get one right away. As Chris noted, there is a legal precedence for a matter like this where a lender cannot produce a promissory note.
