Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Produce the Note
Old 06-24-2008, 03:10 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RonBoyd's Avatar
Join Date: Dec 2007
Location: Denver, Colorado
Posts: 5,135
Produce the Note

Interesting tactic:

Foreclosure Fighting Words: ‘Produce the Note’ | Zillow┬« Blog

RonBoyd is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-24-2008, 03:30 PM   #2
Full time employment: Posting here.
Join Date: Feb 2006
Posts: 987
Interesting, but I don't think that this is a common occurance in this "digital age".

At least they had the wording correct. A "note" is a promise to pay. A "mortgage" is a document that pledges collateral for the loan (note). This is usually the real estate being purchased.

It's a common practice to use the word "mortgage" when they actually are referring to the note.

- Ron

rs0460a is offline   Reply With Quote
Old 06-24-2008, 03:48 PM   #3
Walt34's Avatar
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 14,140
This is not surprising. When we paid off the house it took several months and repeated phone calls to get the lien taken off the property records because the bank couldn't find the paperwork. I kept after them because I knew we'd be selling/moving in a couple of years and I didn't want that issue coming up then.
I heard the call to do nothing. So I answered it.
Walt34 is offline   Reply With Quote
Old 06-24-2008, 04:06 PM   #4
Thinks s/he gets paid by the post
tryan's Avatar
Join Date: Mar 2005
Posts: 2,447
Yeah, I've read many urban legends where people stay in the foreclosed home for over a year while the bank attempts to prove - in court - they are the true lein holder.

Weighs right up there with the "taxes are unconstitutional" scheme. Good luck with that.
FIRE'd since 2005
tryan is offline   Reply With Quote
Old 06-24-2008, 04:09 PM   #5
Full time employment: Posting here.
MikeD's Avatar
Join Date: Apr 2003
Location: Leesburg, VA
Posts: 780
I had a similar problem with the Nasa FCU. They lost the paperwork for my car loan on which I was making payments. They wanted me to come in to the conveniently located main HQ in another state and sign new ones. I asked the guy what was in it for me? Afterall, he couldn't repo the car w/o the paperwork and I was making payments, etc. All he would say is that it would bring the files up to date. I declined, made all the payments on time, and got the title back from them in a timely manner. They gave me another loan three years later.

Mike D.
MikeD is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Lessons Relearned --- Take Note chinaco FIRE and Money 4 01-27-2008 11:30 AM
All Muggers, Except The Dead One , Take Note: No Messin' With Seniors poboy Other topics 11 02-24-2007 02:07 PM
organic produce - is it worth the cost? claire Other topics 8 07-20-2006 08:13 PM
Real Estate question regarding a 2nd note LRAO FIRE and Money 1 01-21-2005 08:59 AM


All times are GMT -6. The time now is 04:54 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.