Prevent foreclosure (at least for a while) and make your lender negotiate

The law requires that anyone looking to collect a debt through the courts has to show “reasonable evidence” of that debt.  In the case of mortgages this means the mortgage documents that you signed.  In most cases these have been prepackaged into collateralized debt obligations and sold off.   In the process the original documents have often been misplaced or even lost.

If you are being threatened with foreclosure, you should insist that the lender show you the mortgage documents.   This can send them scurrying for a while. If they have any trouble finding the documents, you are more likely to be able to prevent foreclosure, as they are going to be much more willing to negotiate.

Also see our main site article on how to Prevent Foreclosure.

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