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mortgager has lost original note

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mrpettingill Joined: 13 Nov 2009 Posts: 1 1.34 Dollars($)	Posted: Fri Nov 13, 2009 2:40 pm    Post subject: mortgager has lost original note I live in Florida. After losing my job, we got behind on our payments. I got a new job but the original mortgager said it was too late for me to make payments. They then sold the mortgage to another company that filed for foreclosure. That was about 10 months ago. The company took a long time to consider a modification. Then they said they were going to offer a modification. Then they said they could not offer a modification. My HELOC bank offered a short sale amount and that was declined. They have lost or destroyed the original note. What does that mean in regard the the foreclosure?
savior70 Joined: 25 Mar 2009 Posts: 1783 Location: Florida 239.40 Dollars($)	Posted: Mon Nov 16, 2009 4:38 am    Post subject: Hi, Quote: They have lost or destroyed the original note. How do you know they have lost or destroyed the mortgage note? In case they've indeed lost or destroyed the mortgage note, they will not be able to foreclose on the property. Unless they can produce the mortgage note, how would they prove that you indeed promised to repay the mortgage? How would they prove that you're in violation of the mortgage agreement? By the way, why did the lender declined to do the modification? Do you not qualify for the modification because of your income?

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