Toledo Congresswoman Marcy Kaptur is telling residents to squat in their own homes and get legal representation if they are being foreclosed upon. The strategy:
(1) Stay in your home. Possession is 9/10ths of the law. And if you live in Wayne County Detroit or Cook County Chicago, the police department will refuse to enforce the foreclosure sale.
(2) Get quality legal representation - Legal Aid and many non-profits offer this at free or reduced charges.
(3) Tell your bank to "Produce the Note." With the rush of sub-prime lending loans and the following rash of bank bailouts and mergers, it's very possible that the party claiming to own your mortgage has no idea where the paperwork is. If they can't prove they hold the deed and show the paper trail, they can't back such a claim in a court of law. At the very least, requiring them to produce the paperwork will slow foreclosure proceedings.
Subscribe to:
Post Comments (Atom)
Posts
2 comments:
#3 works, too. If the investors can't manage their paperwork any better than borrowers can manage their debt, they should be (and are) held to the same standards of the law.
#1 is true to a point, but in Chicago the sherrif to my knowledge was refusing to evict tenants. People who default on their mortgages won't be so lucky. Nor should they be. However, with banks being bailed out en masse, your "squatters" have something of a leg to stand as long as we're rewarding bad decision-making.
Nice post. I like the part about produce-the-note. I live in Tampa and know one person he helped, and it actually worked. Well it did not work like some of the newspapers reporting, but they did get new terms that were very favorable and they were able to avoid foreclosure. It really varries by situation and probably the laws of your state on how far this goes. This site has all the videos they have done. Watch all the videos here:
http://tinyurl.com/bozo2d
Post a Comment