Produce The Note

Home foreclosures are expected to far surpass last year's devastation. Congresswoman Marcy Kaptur (D) from Toledo, Ohio is telling her constituents to "stay put." Toledo is in the middle of a real Depression and foreclosures are skyrocketing. A property lawyer, Marcy Kaptur is saying that before you move out and accept foreclosure, you should tell the bank or the process server to "produce the note". The reason for this is that the original mortgage has been swapped, bought, sold to so many different banks and is probably in the "toxic asset" waste dump that the banks asking for payment probably doesn't have it. According to her and apparently Ohio law, if you can not produce the note you can't foreclose. I like the poetic justice to this.