“Produce the note.” 3 Words That Could Stave Off Foreclosure
Website The Consumer Warning Network is publicizing an intriguing technique that consumers facing home foreclosure can use to improve their leverage against the lender. It's called the "produce the note" strategy and amounts to the consumer demanding that the lender furnish the original paperwork -- the actual promissory note -- that serves as the official legal record of the loan. It is a document that contains the homeowner's signature and proves that the lender threatening foreclosure is in fact the owner of the mortgage.