Friend being foreclosed on, but the bank can't find the mortgage. Where can he find help?

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13. Scuba, many homeowners fight foreclosure on their own and can be quite successful.

Your friend needs to understand how securitized mortgages differ from traditional mortgages. There are networks of homeowners across the country who help and support each other in the foreclosure fight. Your friend could seek such a group in his area.

Please tell your friend to distrust EVERYTHING said to him by the mortgage servicer and supposed owner of the loan.

Illinois is a Judicial state so the foreclosure will take place in the court system. It’s very important to Answer the Complaint. Your friend should challenge the standing of the foreclosing party and the authority of any persons who signed documents.

Your friend should check the local land records, most are online and free to browse. Is the mortgage a MERS mortgage? What documents have actually been filed in the public land records? Does MERS appear on documents previously filed on the property?

Your friend already suspects a forged signature on the mortgage documents. The same is likely true for the Assignment of Mortgage filed in the land records. Those documents need to be examined closely.

Have your friend check property and recordation law in Illinois. Does the state require that ALL Assignments be timely filed in the land records?

This post explains a great deal about securitized mortgages and has resources listed at the bottom for homeowners:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x2412603

Simply, the banksters/MERS broke our property Titles when the loans were securitized and they use forged documents to “repair” those breaks and to offer some party the appearance of the right to foreclose on property.

These issues involve homeowners in foreclosure and those dutifully making mortgage payments who are unaware of what actually happened to their loans and their property Titles.

I caught on to the Title problems and filed a Quiet Title action and am still awaiting trial. Under PA law, my mortgage has actually been null and void since early 2007.

(Shuush, the banksters prefer everyone thinks their mortgage remains valid.)