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Foreclosures: Trail of Tears (but for whom?)


Was it Kierkegaard who said: “Life is lived forward but understood backward”?

In any case, the sentiment comes to mind when reading this article reprinted in Sunday’s print Oregonian Business Section:

Three words fend off foreclosure: Produce the note,” by Mitch Stacy (AP)

(Use Google and the search words, mitch stacy foreclosure, to find the article today, which is not yet findable on Oregonlive.)

“… In interviews with The Associated Press, lawyers, homeowners and advocates outlined the produce-the-note strategy. Exactly how many homeowners have employed it is unknown. Nor is it clear how successful it has been; some judges are more sympathetic than others.

More than 2.3 million homeowners faced foreclosure proceedings last year and millions more are in danger of losing their homes. On Wednesday, President Obama will unveil a plan to spend at least $50 billion to help homeowners fend off foreclosure.

Chris Hoyer, a Tampa lawyer whose Consumer Warning Network Web site offers the free court documents Lovelace used to file her request, has played a major role in promoting the produce-the-note strategy….” (link to article)

This is not new information (see, e.g. this NYT article: A Mortgage Paper Trail Often Leads to Nowhere, by Gretchen Morgenson, December 26, 2008), but awareness of all its dimensions is slowly making its way through the system.

My previous foreclosure posts here, here, and here.

(The Oregonian Business section does have a very interesting story you can find about the Grange trademark!)

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