Facing Foreclosure? Make the Lender Produce the Original Mortgage

Here’s an interesting twist on the home foreclosure front.  People around the country are having success in getting additional time to avoid foreclosure by requesting that the lender produce the original mortgage documents to prove that they have responsibility for the mortgage and have a right to foreclose on the property.

It’s no secret that I’m not super duper sympathetic for many of the people facing foreclosure.  While I’m normally a very tolerant person, I’m frustrated that so many people bought houses that they couldn’t afford.  Of course there are exceptions to every rule on this.  There are plenty of people that did everything right and are still facing down the foreclosure monsters.  No one can afford their mortgage forever if they find themselves out of work for an extended period of time.

So, if you are facing foreclosure and the lender hasn’t been willing to work with you, make sure you ask for them to produce the original mortgage documents and make sure that they follow every rule that they are supposed to.  If they aren’t willing to help you, you definitely shouldn’t cut them any slack.

Here’s a link to an article at CBSNews talking about this in more depth:

http://www.cbsnews.com/stories/2009/02/17/business/main4807671.shtml