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Posted November 25, 2009 for public distribution
by NATIONAL ALLIANCE OF HOMEOWNERS FOR JUSTICE
So you have decided to challenge your servicer as to whether they really have the right to collect anything from you and whether they have been turning over payments to the proper party (the real lender) and whether they have any information regarding the securitization of your loan, and an accounting for ALL money exchanged or paid in connection with your loan.
You've decided to challenge the pretender lender on whether they really own your loan and whether they represent any other entity that might be the REAL LENDER. You want to know who the real lender is and whether they have any enforceable right to collect money, enforce the note or obligation, or enforce the mortgage or deed of trust.
You have decided to hire an attorney, but like all fields, there are attorneys that are good at one thing and not so much on others. You want an attorney who is a crusader, who is not looking for a single silver bullet like "produce the note." You want someone who believes in you and believes in your case. You want someone you can trust and whom you like. Big retainers mean big bills generally speaking unless they charge you a project fee that is all inclusive.
Yes this is a lot of work to do, but hiring an attorney who is only halfheartedly representing you with the notion that you owe the money and anything he does for you is enough, even if it is a minor delay. Keep looking. Don't expect the first one you meet to be THE ONE.
And remember it is YOUR case, they didn't screw you (the securitization players did that) and they don't owe you anything. They spent a lot of time getting educated and trained to practice law and they are entitled to substantial fees compared with other jobs.
Here are the the things you should want to know and to get clear answers that are verifiable from any attorney you interview:
Listen carefully to the answers. Take notes. Go home and think it over even if it only for an hour. Don't let emergency conditions dictate settling for an attorney who doesn't understand securitized residential mortgages.[an error occurred while processing this directive]