Homeowners Use 'show Me The Note' To Fight Foreclosure

The Geweckes went bankrupt and failed to win a loan modification. But they bought time. In 2009, the Geweckes filed a lawsuit to block their foreclosure. At the heart of their case is this question: Who owns their mortgage? For the original version including any supplementary images or video, visit http://usatoday30.usatoday.com/money/economy/housing/2010-12-21-mortgagenote21_CV_N.htm







Spouse must sign mortgage, but not necessarily the note



By signing the mortgage, you agreed to allow the lender to foreclose on the home if the note is not paid in accordance with its terms. You and your husband should review the loan documents relating to the refinancing to verify which of you signed the note and mortgage or deed of trust. If you didn't sign the note, I would not be concerned. For the original version including any supplementary images or video, visit http://articles.baltimoresun.com/2001-01-28/business/0101260185_1_mortgage-or-deed-sign-the-mortgage-spouse





Navios Maritime Holdings Inc. Announces Pricing of $650 Million of 7 3/8% First Priority Ship Mortgage Notes Due 2022



When mortgage notes are used and foreclosure occurs, banks can pursue borrowers for deficiency amounts. Unfortunately, borrowers cannot choose which type of loan contract they prefer, as these contracts are governed by each state. Currently, 29 states use deed of trust contracts, while the remaining use mortgage notes. Many judicial foreclosure states are beginning to implement deed of trust in order to expedite the foreclosure process. For the original version including any supplementary images or video, visit http://finance.yahoo.com/news/first-person-deed-trust-vs-mortgage-notes-foreclosure-20110128-113200-822.html





First Person: Deed of Trust vs. Mortgage Notes in the Foreclosure Process





("Navios Holdings" or the "Company") ( NYSE : NM ) announced today that the Company and Navios Maritime Finance II (US) Inc., its wholly owned finance subsidiary, priced $650 million of 7 3/8% First Priority Ship Mortgage Notes due 2022 (the "Notes").The Notes were offered and sold in the United States only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and in offshore transactions to non-United States persons in reliance on Regulation S under the Securities Act. The Notes will be secured by first priority ship mortgages on 23 vessels aggregating approximately 2.2 million deadweight tons owned by certain subsidiary guarantors and certain other associated property and contracts rights.The Notes will be guaranteed by all of the Company's subsidiaries that guarantee the Company's 8.125% Senior Notes due 2019. The net proceeds of the offering will be used (i) to fund its current tender offer and consent solicitation for certain outstanding notes and pay related fees and expenses, (ii) to discharge and redeem any of such notes that are not purchased in the tender offer after all conditions to the tender offer are satisfied or waived, including the payment of any related fees and expenses and any redemption premium, (iii) to repay indebtedness relating to six vessels which will become part of the collateral for the Notes and (iv) for general corporate purposes. The consummation of the offering of the Notes is conditioned upon customary closing conditions. For the original version including any supplementary images or video, visit http://finance.yahoo.com/news/navios-maritime-holdings-inc-announces-135016876.html