"Produce the Note" Tactic

What this means is that if you are in foreclosure trouble, and the bank or lending company threatens to take your home, you can buy some time and possibly renegotiate a new mortgage if you ask the bank to “produce the note.” Evidently, in a large number of cases, banks are having a tough time producing the promissory note since mortgages are packaged up, sold, bundled again, and re-sold and the original promissory note gets lost in the process.

Watch this video by the Consumer Warning Network: