• September 2018
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In a mortgage foreclosure action wherein the note-holder (lender) cannot locate the original loan documents (and/or is caught out attempting to forge them), who gets the collateral real estate, and what happens to the debt obligation?

various documents (including the original note) before foreclosure proceedings can even begin in court. Because many states are changing their foreclosure laws, homeowners do have a few additional protections including the fact that the note must be produced as well as any additional documentation that indicates agreements or amendments associated with mortgage.

Some answers indicate that lenders have such good attorneys that they can drag out the proceedings for a considerable amount of time. However, depending on your state, there may be legislation that protects you against lenders doing this. There may be a specific timeframe that must be followed in order for the foreclosure to continue through court at all.

To answer your question, if you live in a state with these protections then the foreclosure cannot carry on and the mortgage will remain with the homeowner.

LawTrades offers comprehensive and affordable legal assistance, including real estate law. We would be happy to discuss your circumstances and help connect you with the right attorney. Foreclosures can certainly be difficult, but homeowners deserve to know their rights throughout the proceedings. Hope this helps.

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