There are a large number of home owners that are struggling to make payments because of the change in the economy, a lost job or a rise in their interest rates. The craziness of it all is that the company that brings about the foreclosure may not (and usually isn’t) the company where the loan originated. Home loans are often sold, then re-sold, then re-sold sometimes more times than any one can keep count.
This could be good news for the home owner. There is a little known requirement that forces companies to produce the lien before getting any money. In the old days, the note was actually cut in half in a zig zag fashion and the homeowner would keep one half while the lender kept the other half. Any person coming to the homeowner to demand payment had to produce the other half of the note and the two halves had to match up exactly.
Talk to your court house before the foreclosure hearing and see if you need to fill out a form or can just be informal about your request. But using the “produce the note” could be the time saving tactic that a homeowner needs to get things back on track.