Pulled this off NewDeal.com: Homeowners ask Banks, where's the note?On the Where's the Note? site there's a form letter you can use to request the information from your bank.
As 50 state attorneys general look into the foreclosure mess, homeowners can take steps on their own to protect themselves. A new movement is growing called “Where’s the Note?” Did The Big Banks Loose Your Mortgage? that urges consumers to demand proof that their bank owns their mortgage. The website is “where to go to find out exactly who owns your mortgage note,” says CBS news’ Rebecca Jarvis, noting that “literally hundreds of thousands of people ha[d] visited the site” within its first day of operation.
While this crisis is just now starting to be uncovered, it didn’t happen overnight, Jarvis says. “It started long ago when banks were going out, giving out loans to anyone and everyone… and then they started repackaging them, cutting them up, slicing and dicing them, selling them off to new people. And what that was was a very lucrative business, but now it’s come home to roost.” It seems that some paperwork may have gotten lost in all that shuffling.
Jarvis explains that your note is what you sign when you buy your home. “Who owns that now is important because whomever owns that now is the only bank that can legitimately foreclose on you,” she says. And it’s important for every homeowner to find this out, not just those who are facing foreclosure. After all, it’s good to make sure you’re shelling money out to the right people every month.
