Recently Jim and I interviewed Professor Katherine Porter on our radio show SpotLight about her report: Misbehavior and Mistake in Bankruptcy Mortgage Claims a and her recently released findings.

"Foreclosures are on the rise, and lenders and loan servicers are making a lot of mistakes in the process. In many cases, the servicers don't have the right to foreclose on homes because they don't own the loans. But unless borrowers challenge their foreclosures in court, the servicers prevail. A Harvard graduate, and law professor at the University of Iowa, Katherine Porter talks about a dirty little secret of the lending industry."

Listen to Katherine on SpotLight:

If you believe you have been targeted for foreclosure illegally or unfairly, ask the lender to produce the note that proves they own your home. Many times the note has been sold and the lender that is trying to foreclose on you -may not the right to. There is only one original note for your mortgage that has your signature on it. This is the document that proves you owe the debt.

Katherine Porter interviewed on CNN: Produce the Note!

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FIGHT FOR FAIRNESS

This process is not intended to help you get your house for free. The primary goal is to delay the foreclosure and put pressure on the lender to negotiate. Despite all the hype about lenders wanting to help homeowners avoid foreclosure, most borrowers know that’s not the reality.

Too many homeowners have experienced lender resistance to their efforts to work out a payment structure to keep them in their homes. Many lenders bear responsibility for these defaults, because they put borrowers into unfair loans using deceptive, hard-sell practices and then made the problem worse with predatory servicing.

Most homeowners just want these lenders to give them reasonable terms on their mortgages, many of which were predatory to begin with. With the help of judges who see through these predatory practices, lenders will feel the pressure to work with borrowers to keep them in their homes. Don’t forget lenders made incredible amounts of money by using irresponsible practices to issue and service these loans. That greed led to the foreclosure crisis we’re in today. Allowing lenders to continue foreclosing on home after home, destroying our neighborhoods and our economy hurts us all. So, make it hard for your lender to take your home. Make ‘em produce the note!

For additional information and steps to take to request the lender prove they own your note visit the Consumer Warning Network.