Most people buy a home by borrowing part of the purchase price usually from a bank or a mortgage company. What about a case where the attorney suing to foreclose of behalf of the bank submits a copy of the note (which original note actually has the original loan account number on it) which in the original complaint has no allonge and no transfer endorsements exist on the note.
This means that although you may have had many conversations with a mortgage lender’s collection and/or loss mitigation department in which you have been told you are in a foreclosure this really means you are in pre-foreclosure status until you are actually served with this foreclosure writ.
If immigrants were the main reason for the foreclosures epidemic, then Lehman brothers and other multi-million dollar financial firms would not have gone belly-up, and the Fed would not be spending tax-payer’s money to keep these corporations afloat.
While I agree that the terms of the PSA do not directly relate to a homeowner, the fact that the PSA is the instrument used to empower the Trust in an enforcement action, and is brought in by virtue of the foreclosure action, is sufficient for the defendant homeowner to question whether the loan was properly securitized and ever put into the Trust.
To further assist in your research, the Sheriff’s Office issues a foreclosure list on this website with the date the sale will be held, the case number, the address of the property and the name and telephone number of the attorney handling the case as well as opening bids the day before the sale.