- The Progressive Pulse - http://pulse.ncpolicywatch.org -

Show Me The Note

Who owns your mortgage? I’ve asked this question before, http://pulse.ncpolicywatch.org/?author=52 [1], and have been pleased to note that local media are asking it too. Today’s News and Observer picked up an AP article, http://www.newsobserver.com/business/story/1409682.html [2], describing one woman’s efforts to keep her home by asking the court to require that the foreclosing entity prove they own her debt. The foreclosing entity featured in the story hasn’t been able to provide that proof, so the woman in the story remains in her home for now.

There is a local angle on this story; homeowners in North Carolina are raising this defense in their foreclosure hearings. I encourage local media to continue to shine a spotlight on the glaring problem of note ownership in the North Carolina foreclosure process. Coverage will help homeowners and their attorneys educate the clerks of court and superior court judges who hear foreclosure cases.

Hopefully we’ll see the last of entities with insufficient proof of ownership foreclosing on beleaguered homeowners.