Truth in Foreclosure

Produce the Note Campaign Produces Uncertainty for You

There’s been a lot of reports in the news and on foreclosure websites about the Produce the Note campaign. There havve been a few landmark cases where homeowners have been able to get their homes awarded to them by the court (and the mortgage nullified) because their lender couldn’t produce the actual deed of trust promissory note that proved they owned the mortgage. According to the OptionARM Lawyer Blog, there was a recent California court ruling on a case where the homeowner’s sole defense was that the lender couldn’t produce the note. Here’s a synopsis of what happened.

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Legal Defenses to Protect You and Your Home

If you're looking for a way to fight foreclosure rather than simply negotiating with your bank or letting them take your home from you, you may want to investigate some of these legal defenses to foreclosure.

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What is a Foreclosure?

When solving problems, it's often helpful to define them. The idea of a foreclosure does not apply solely to home loans...a lender could foreclose on any loan if it is past due. But you're probably on the site to find out about a home foreclosure.

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How Long Does a Foreclosure Take?

How long a foreclosure takes to complete and the process it follows depends on whether it is a Judicial or Non-Judicial foreclosure. There are similarities between the two as well. Find out what you can expect in your situation and how to be proactive rather than reactive.

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Judicial, Non-Judicial, and Why It Matters to You

There are two types of foreclosure: Judicial and Non-Judicial. As you can probably tell from the names, Judicial goes through the court system while Non-Judicial doesn't. Judicial foreclosures typically take longer than Non-Judicial foreclosures. You can usually stay in your home until after the foreclosure sale in either type, but there are significant differences and you don't get to choose...the decision was made when you signed your mortgage paperwork.

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State Law Summary

The following summaries give some information on individual state foreclosure laws. Timelines will vary depending on specific circumstances and each situation. The timelines noted within are based on uncontested actions and assume no delays. They give the time for the sale, then the running totals for various procedures, until the end, when the longest time [...]

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