October 19, 2010

Where's The Note? Facing Foreclosure, You May Want to Check Out this Site ASAP - or NOT

Where's the Note? is a website published by a group of organizations (see their logos at the bottom of the page, you'll have to search for their actual sites -- they don't link to this new web site) that's getting lots of media attention.

Go to Where's the Note and you'll get background information on foreclosure issues (things like the definition of a mortgage note) as well as lots of direction on how to fight your impending foreclosure due to the apparent idiocy involved in fast-tracked foreclosure processes by financial institutions across the country.  Better known at this point as "foreclosuregate," in case you haven't been reading the news lately. 

Of course, there are those that are arguing that even if there's a paperwork mess resulting in a title nightmare, if the borrower could not pay the note, then legally Where's the Note gives them action, but morally nothing's changed.  Folk like Mike Konczai are writing about this twist on the growing news story, and I'm happy to see it. 

Because while there are those (including at least one member of Congress) that have advised homeowners to squat, staying put in their homes until the paperwork mess gets sorted out, I gotta wonder if that's best for the home owner. 

It's far from a peaceful life, squatting.  Waiting for the shoe to drop - and unless you get a windfall, then you're setting there knowing you can't pay what you owe, so eventually that's a bell that is gonna ring.  Squatting is not a guaranteed winning Lotto ticket.

Plus, it keeps you from pulling up stakes and moving forward.  And forward is good.  So you join the millions of Americans negatively impacted by this depression, ahem, recession?  So you move to a rental, a forced downsizing of your life?  Is this really and truly so horrible? 

Maybe not, Dear Reader.

Many folk are scared of the simpler life, only to be very pleasantly surprised.  Because a simpler life is a better one.  Whether you voluntarily pursue it or it's thrust upon you, either way -- it's freeing not to be burdened with so much material stuff.  A new chapter in life may mean a second chance to pursue a dream, move to another location, get rid of that dining room set you hate and never use. 

So, while Where's the Note? sounds awfully friendly, I gotta wonder if it's worth all that angst to avoid the eventual New Chapter in Life.  Second chances are sweet, no matter how you come by them.

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