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Bank of America is suing a Nashville Chapter 13 Bankruptcy Trustee over Mortgage Payments

As a Waco bankruptcy attorney, I see tons of individual and families who are about to lose their homes to foreclosure. Many of them ask me about the "Show me the Note" defense against foreclosure. The basic idea behind "Show me the Note" is that if the mortgage company cannot produce the actual note that the individual signed when they obtained the mortgage, than the mortgage company does not have a valid lien against the property and the individual just got a free house. Now here in Texas, "Show me the Note" typically is not a valid argument and, therefore, most attorneys will not pursue that line of argument when trying to help save homes from foreclosure. However, in other states, like Tennessee, this argument frequently works. In fact, Henry "Hank" Hildebrand, a Chapter 13 Trustee bankruptcy trustee from Nashville, is using the "Show me the Note" argument to avoid paying monthly mortgage payments for individuals in bankruptcy. Bank of America is fed up and wants to stop this argument, so they are taking a pro-active stance and suing Hildebrand. (see http://www.bizjournals.com/nashville/news/2012/07/26/banking-giant-sues-nashville.html?utm_source=Consider+Chapter+13&utm_campaign=44ea02d871-Monday_Update_0716127_15_2012&utm_medium=email) As stated above, while the "Show me the Note" argument rarely works in Texas, I am interested to watch this case. Hildebrand is arguing that in Bank of America cannot produce the underlying promissory note, then he does not have to pay them. Bank of America is citing to numerous cases in other states like Arizona and Massachusetts courts which recently partially sided with the banks. Meanwhile in Texas, the August foreclosures are scheduled for August 7, 2012 which is next week. If you are at risk of losing your home and need help, don't delay! Call today for a free, no-obligation consultation at 254-633-2876 or email us at [email protected]. Let my family help yours! Photo Credit: bloomsberries

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