Foreclosure Defense: Lost Note Shananigans

Jose wrote:

Thanks for the input K, I filed for BK today pro se I was totally unable to find and attorney with the enough guts in Virginia to take on these crooked lenders. There also another issue in our wonderful state, there is a statute that allows for the lenders to provide a lost note affidavit, most of these affidavits are fraudulent, these lenders and servicers never saw or even received this documents, they are being signed and notarized in back room offices, and using them to foreclose on all these families that were lied and cheated of all their life savings. I poured more than $500,000 of my savings into our home, for these lenders to take me to the cleaners. What can realistically be done about these lost note affidavits, contest their validity?. I did my mortgage audit and that is the best tool I have found, most attorneys unfortunately are intimidated by the Rocket Docket here in Virginia.

EDITOR’S NOTE: The answer is that you don’t just ask for it you demand it. And if they don’t give it to you you sue them in your State Court and saying there are numerous misrepresentations that were made to you and then you issue a Request to Produce, along with interrogatories that demand identification of the person who signed the lost note affidavit and when they were hired and where the note was placed and the entire chain of custody.

You are right, most of those affidavit are bogus, signed by people who knew nothing about the closing. Don’t give up on finding a decent attorney. Keep looking. Whether young or old, you want someone who wants to take on the system and draw blood.

Good for you for getting the audit done. You took the right steps!!!

 

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9 Responses

  1. @Joe, I am filing bk as well due to this mortgage mess. Please email me and tell me what you have done in VA to stave off the mortgage hounds.

  2. Joe- where can I go to get the info on filing a BK against the note? Please e-mail me at: isavehouses@hotmail.com

  3. Pls contact me if you know a lawyer in No Va specializing in this area of law

  4. I obtained a TRO against IndyMac Bank to stop foreclsoure in Northern Va when they could not produce the original note. I have a hearing on June 4th when I am sure they will attempt a “lost note ” defense. I am looking for assistance.

  5. In theory, this lost note issue works well in judicial foreclosure states. But, in non-judicial states, the consumer needs to file a separate suit and get an injunction to stop the sale. That takes money… money that consumers do not have.

  6. In my case we took the deposition of the lady that signed the “Lost Note Affidavit” and under oath she admitted that the affidavit was false!!! In other words, they submitted a fraudulent affidavit to the court hoping no one would challenge it! I am sure it happens every day.

  7. Haven’t made a mortgage payment since July 2002 and still in my home. Their lost note isn’t working so they’re trying “equitable subrogation” as why they should be able to take the house. Also, have found some interesting facts concerning discharging the debt in bk since they are unable to produce the original note proving they even have a secured debt.

  8. [...] lucy_chronicles wrote an interesting post today onHere’s a quick excerptJose wrote:. Thanks for the input K, I filed for BK today pro se I was totally unable to find and attorney with the enough guts in Virginia to take on these crooked lenders. There also another issue in our wonderful state, … [...]

  9. [...] Politics on the Hudson wrote an interesting post today on Foreclosure Defense: Lost Note ShananigansHere’s a quick excerptThanks for the input K, I filed for BK today pro se I was totally unable to find and attorney with the enough guts in Virginia to take on these [...]

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