Don't pay your mortgage. Make the bank produce the paper trail. They can't.

[Nick Gromicko]

Your local bank probably sold your loan, it got repackaged, sold again, repackaged and sold again and again and again.

There is a good chance that the bank that has your loan, doesn't have the paper trail to prove it.

The recorder's office only keeps the original loan docs.

[iniquette]

So should I sent out the mortgage payment or not this month?

[Bobby Hamilton]

Originally Posted by iniquette

So should I sent out the mortgage payment or not this month?

Depends on how long you want to live there

[Keith Runquist, CMI]

I don't have a mortgage. I paid my house off. Can I still get a check from Obama or did I screw up?

[dgagneur]

Originally Posted by krunquist

I don't have a mortgage. I paid my house off. Can I still get a check from Obama or did I screw up?

I hope you kept a copy of the payoff notice!! You never know when you're going to have to prove you OWN it already!!

[Dave Bush]

You gonna back me up with the courts when the bank comes knocking for payment and eviction? Somehow I don't think so.

[Nick Gromicko]

The bank won't come knocking. At the foreclosure proceeding ask the Judge to make them prove they have the mortgage on your home. There is a good chance that they can't produce the docs.

[kpierce]

Originally Posted by gromicko

The bank won't come knocking. At the foreclosure proceeding ask the Judge to make them prove they have the mortgage on your home. There is a good chance that they can't produce the docs.

Apparently, it will just buy time. They have other means for proof.

[mnahrgang]

Originally Posted by gromicko

The bank won't come knocking. At the foreclosure proceeding ask the Judge to make them prove they have the mortgage on your home. There is a good chance that they can't produce the docs.

Some states, like Missouri, don't have foreclosure proceedings. They send you a couple of notices, post the foreclosure sale in the paper, and sell your house. Only thing that can stop it is either pay the bank or file bankruptcy. Bankruptcy only postpones it until the bankruptcy judge tells the bank that they can proceed with the sale.

[Joe Farsetta]

It may not matter who owns the loan, as they have given the servicing company the authority to collect on their behalf.

[Nick Gromicko]

I don't see how you can have a foreclosure without a court order in MO. A sheriff can't act on a newspaper notice.

[mnahrgang]

Originally Posted by gromicko

I don't see how you can have a foreclosure without a court order in MO. A sheriff can't act on a newspaper notice.

It's all part of the law. It's clearly defined, and the sheriff doesn't have anything to do with it. (Of course the sheriff may need to get involved if the home owner doesn't move out. Then there is an eviction by court order after the fact.)

[Michael R. Boyett]

Originally Posted by gromicko

I don't see how you can have a foreclosure without a court order in MO. A sheriff can't act on a newspaper notice.

See http://www.foreclosure.com/statelaw_MO.html

[John McKenna]

Nick,

Do you have an example of one person who pulled this off and it worked?

[kpierce]

Originally Posted by jmckenna1

Nick,

Do you have an example of one person who pulled this off and it worked?

He probably just read this article.