Here's the insanity of the mortgage mess created by lenders: a homeowner gets behind a few payments, gets back on her feet and when she tries to pay, they won't take her money.
No, apparently lenders would rather have the taxpayers' money. "How can this be?" you ask. (And she's not alone)
No lender WANTS to foreclose, right? (see related articles "Mortgage Work-Out Myth" and "Mortgage Servicers Secret")
Just watch this story from the Tampa NBC affiliate WFLA which highlights the ridiculous brick wall many homeowners run into when they get behind in payments and try to catch up.
Jacci O'Brien's battle with Wachovia is a perfect example of why homeowners facing unfair foreclosure actions must fight back. The Produce the Note strategy gives homeowners a way to do that. It's time to force the lenders to negotiate with homeowners who WANT to stay in their homes and, yes, WANT to pay their mortgages. Watch the video below for more information on how to use the "Produce the Note" strategy.
Source: Consumer Warning Network
and the Tampa Tribune: Foreclosure Looming: You Can Buy Time
Also see a couple earlier entries where we have reported on similar tactics that led to innocent homeowners losing their homes;
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Nice post. I like the part about produce-the-note. I live in Tampa and know one person he helped, and it actually worked.
My husband and I divorced, I moved out of the property letting him have it then he quit making payments and abandoned it, foreclosure was emminant. After about 8 months and assuming my home had been foreclosed on I received a notice from Litton Loan Servicing that they would be willing to do a loan modification on the property. I was excited thinking that I was gonig to be able to get my house back. I completed all of their paperwork and was told I hadn't sent in some documentation which I then submitted. Well they kept saying that they didn't get the documentation which I submitted to them 4 more times!! It is my opinion that they had no intention of ever considering a modification for me they were just jumping through federal hoops so they could get more money from the government!! It's heartbreaking what they do to people giving them false hope just so they can get more taxpayer money!!