Banks Can't Foreclose on Some Homeowners in Massachusetts

Bloomberg recently reported that the Massachusetts Supreme court ruled against Wells Fargo and US Bancorp.

Essentially, the high court agreed with a lower courts ruling that the foreclosure process the banks imposed against some lenders was not valid because the banks could not prove that they were indeed owners of the note.

The judges acknowledged that the families were not paying their monthly mortgage payment; but unless the financial firms can "show the note" or otherwise prove that they were holders of the mortgage during the time of the foreclosure, then the proceedings can not go through.

Such judicial voiding of foreclosures is getting more and more common has homeowners' lawyers are asking the Countrywides & Bank of Americas of the world to "Produce the note"... At the very least such strategies may delay your eviction a few weeks or months, or as in extreme cases (such as those in metro-Boston) the foreclosures will be thrown out.

Say "Produce the Note" to delay your foreclosure

If you're asking, "How can I delay my foreclosure?" you should watch this video.

In 1,700 bankruptcy cases that deal with foreclosure the bank can't produce the note. Legally, they should be able to prove to the court that you owe them money on your house.

According to fox news, some people have stalled the foreclosure process for a few weeks to several months---Helping buy you time to negotiate a lower payment plan with your bank.