Originally posted by jefwane
If they had the note they would not be getting various companies and law firms to produce fraudulent documents. If they had the notes and they were properly recorded there would not be an issue with foreclosures. The reasons that they are missing so many notes is that there was major fraud agains the GSEs and the MBS buyers. They destoryed them in attempt to hide the evidence of that.

The proper way to do this is with the aid of a competent attorney. It's going to involve requesting who ever services your mortgage to show the actual note. Then you pay your mortgage into a court escrow until they can prove whoever holds the note. If they can prove it the money from the escrow goes to get you back current if not then you take the escrow and file for quiet title. The process would probably vary wildly from state to state so competent, legal aid is a necessity.

I care not if a miniscule amount of people walk away with free houses. I just want to finally see some prosecutions of the banksters with at least a few of them ending up in orange jumpsuits.

Again DO NOT follow this path without legal advice. You're just asking to be foreclosed on. Especially in a fast (non-judicial) foreclosure state like Georgia.

That is exactly right.

I edited my OP to reflect this.

I just determined the same thing on my own by reading some additional information in regards to this.

@ Kashmir God Help me, I love it that they are entangled in their own web. Sadly, I doubt that any lesson will be learned (psychopaths)

Be that as it may, real bad idea to join to cheating party. This is seiu.org. NOT "good guys" See the comments at the link for zerohedge.
I believe that (thanks to you, OK, Blaine & all!) those urging caution are offering good advice. I would agree that they may actually find or "find" (by fraudulently cobbling Humpty Dumpty back together again) the necessary paperwork. Our loan was/ is a AAA that was originally with Countrywide & sold (bought by/ absorbed/ whatever) to BofA. In the process of trying to re-fi at the new low rates...well, it got pretty interesting. We started in February...excuses, excuses, excuses all spring/ summer, & in late August (about the time things started getting dicey), suddenly the guy's pants were on fire to close on the loan. They hounded us for a few weeks via email & phone & eventually implied that they had gone ahead & finalized the loan without our signatures? We are in the process of choosing a different credit union or USAA to do it all over- BofA's turn to wait.
The moral to this story is get an attorney or see if you can go through the attorney general in your state. If you have no issues that would call attention to your mortgage, tipping them off could potentially lead to a bigger mess than now due to them trying to cover their "assets".
A local credit union is a much better option, if you can qualify. Mileage varies as far as closing costs, application fees, etc. In the long haul, I think it would be worth it.


ETA to Blaine (dishonest) or fearful/ desperate to be fair

Guaranteed this will catch up to you in the end, and the short version is that you will probably end up losing your home, just like anyone else who stops paying their mortgage or rent. Don't do this just because you "read it on the internet".

If everyone stopped paying their mortgages, the banking system (and by extension the economy) will collapse almost immediately as no cash will be coming in, and the Government will never allow this to happen.

There is no way that the Government will allow the banks to lose TRILLIONS of dollars in outstanding mortgages - they will come up with something pdq to stop this from happening.

I am not a lawyer but I have used a few books and website in my upcoming fight...

My understanding is that you can ask for a temptorary injunction against paying (remember I think the additional terms are penalty and interest free) I think you might be able to include if they find it, word the injunction to cover this a return to the status quoa and no issues...

I think it is a suspension of the contract temporarily until they find the paperwork.

The Premise is if they do not have your note who does. After all am I paying the right people?A few months if not years of missed payments is enough to justify the wait to resume normal payments. Not any back ones just a return to the status quo...

Check with a real estate attorney. If they can not immediately produce it say six months you do have cause for bad faith on their part. This has been my understanding...

Talk to a lawyer to deal with it. He might smile and let you pay him say 3 to 5 g's versus say paying 10 g's...

Not only will it catch up to you eventually.
I don't trust anything the SEIU is involved with.

Originally posted by queenofsheba
I'm so weary of cheaters and quitters.

Me too, especially the banks and our government.

My first issue with most of the replies has to do with the fact of posters replying and saying you should take reponsibility for your morgtage. I dont understand how anyone could even possibly begin to have any respect for ANY financial institution in this country. Every single one of them has in some way or another participated in the robbing and destruction of this countries economy, so we dont owe them a damn thing. They all got our money from the government and rewarded their practices handsomely even at the apex of this downturn, so who cares if they lose a few bucks, lets not forget they are the bigger crooks. (Remember, at the very least, these banks are participating all the way from the top using the federal reserve which in and of itself is a huge scam)

Secondly, how can you still lose your house if like the OP said, you set up an escrow account and make payments to that to bring your account back current after the legal proceedings. Now, if the judge awards in your favor, how then can thebanks go back years down the road, produce the original note, and demand payment thus forcing foreclosure. The courts already settled the case, and surely they most have some sort of timeframe to produce said original note to begin with.

Just a few thoughts on the subject. Also, this is one of my first posts, even though I have been lurkin this site for a little better than 4 years

This is not a matter of personal responsibility. This is a legal issue.
If the banks cannot produce the documentation, they don't have them. The biggest problem i see if they cannot produce the docs, is the title issue. How can you obtain a clear title?
Can you imagine the nightmare of paying your mortgage off, and not being able to get a clear title? Potentially, some other institution could step in and claim that you have been paying money to the wrong institution, that you did not do your due diligence in making sure you were sending the payments to the proper entity.
By all means, get verification in the form of copies of the original paperwork with your signature. This should probably be sought by you from any financial institution that the note is sold to, as soon as it happens.
If they cannot produce the docs, consult with a good attorney, and be prepared to state YOUR reasons why you are concerned. The attorney will assist you in resolving those concerns, whether it ultimately means you pay the mortgage or not. Not paying could be a viable option, but it may not be.