Produce the Note

"So I say to the American people, you be squatters in your own homes. Don't you leave." [Rep.Marcy Kaptur's D-Ohio] advice to "squat" cleverly exploits a legal technicality within the subprime mortgage crisis.

[David]

Three cheers for Rep. Kaptur.

There's a good "How To" article on using a Produce the Note strategy at:

http://www.ehow.com/how_4764181_produce-strat...

Hope it helps.

[peter davis]

Note or no Note isn't the real issue mob mentality? So many people are "getting screwed" that there is a mob mentality for the rationalization of poor choices. This is obviously an awful situation. I wonder if most people took responsibility for their situations in the 30's or looked at how to get out of it by screwing someone else. Maybe criminals should start holding China accountable for shootings. They invented gun powder right?
Nobody asked questions when they were accepting these loans. They probably enjoyed telling everyone that would listen how much their house was worth compared to the previous year. We all loved hearing that and wondering how they could afford such a house. I feel sorry for all of the collateral damage this has caused. People who have lost jobs or been otherwise effected due to their "neighbors" actions. Bottom line: If you borrowed money that you had no way to or no intention of paying back you are a scumbag. Thank you for living so high on the hog while others cleaned up the pen. Now we are all going to be a lot more crowed down in the slop. Be a warrior and accept your actions and take responsibility for them! Have people always been this bad or is the increasing interconnectedness of human systems making us seem that way due to larger and more distributed impacts?

[Please Spare Me]

This is the stupidest thing I've ever heard. First of all, banks have lost notes from the beginning of the time of giving notes...which is why they have LOST NOTE AFFIDAVITS. The mortgages are recorded and with a lost note affidavit, that is all that is required, at least in New York State.

[Please Spare Me]

peter davis wrote:

Note or no Note isn't the real issue mob mentality? So many people are "getting screwed" that there is a mob mentality for the rationalization of poor choices. This is obviously an awful situation. I wonder if most people took responsibility for their situations in the 30's or looked at how to get out of it by screwing someone else. Maybe criminals should start holding China accountable for shootings. They invented gun powder right?
Nobody asked questions when they were accepting these loans. They probably enjoyed telling everyone that would listen how much their house was worth compared to the previous year. We all loved hearing that and wondering how they could afford such a house. I feel sorry for all of the collateral damage this has caused. People who have lost jobs or been otherwise effected due to their "neighbors" actions. Bottom line: If you borrowed money that you had no way to or no intention of paying back you are a scumbag. Thank you for living so high on the hog while others cleaned up the pen. Now we are all going to be a lot more crowed down in the slop. Be a warrior and accept your actions and take responsibility for them! Have people always been this bad or is the increasing interconnectedness of human systems making us seem that way due to larger and more distributed impacts?

I like the way you put that. Excellent.

[Please Spare Me]

David wrote:

Three cheers for Rep. Kaptur.
There's a good "How To" article on using a Produce the Note strategy at:
http://www.ehow.com/how_4764181_produce-strat...
Hope it helps.

How bout producing the mortgage payments. I don't know what kind of wacky ass laws Ohio has where this would be acceptable...there is simply no law that the bank produce an original note. Courts in New York State routinely allow lost note affidavits. Furthermore, the standing to bring an action in New York rests on an Assignement of the Mortgage which is recorded in the county where the property is located.