How can three words say so much? Every Saturday morning “Good Morning America” features a segment where viewers submit their own video’s and hold up a sign expressing their thoughts, which are only printed and not spoken If you have never seen it, the displays make a profound statement.

When my daughter used to watch that purple dinosaur, we would hear the magic words sung over and over, time and time again. I never thought that magic words would be applicable to real estate. Apparently now, they just might be.

I first heard the argument for the magic words at a seminar I attended a few weeks ago regarding loan modification. I didn’t give it much credibility simply because I felt the presenters were there looking for retainers. People in foreclosure can be under a tremendously stressful burden. Just like a patient with a terminal illness who will try the latest medicated cocktail in a last ditch effort to stave off the grim reaper, a homeowner in foreclosure may throw money at the latest con man who guarantees the house can be saved. Then another story appeared on one of the local news channels this week. It appears the movement may be gaining some momentum.

Produce the Note

Could this be the new battle cry of the pending foreclosed….Produce the Note!

The premise behind this is since your promissory note is not likely to be held by the issuing lender, but more likely to be sold, repackaged, and therefore location unknown, it becomes highly unlikely that a foreclosing lender can present the actual original paperwork.

To me it’s the old defense we would try and use in high school when we performed a rolling stop at a stop sign, or being charged with going 45 in a 30 mile per hour zone. Our only hope was that the police officer spelled our name incorrectly, or made a mistake in reporting our license number. The likelihood of it being tossed were slim, but until the court date you were hopeful, you thought the citation gods might smile on you. And isn’t that one of the hottest topics today in self improvement…The Laws of Attraction. you think it, you will become it.

The bottom line is does the strategy work? The best advice I can give if you find yourself in this predicament is to seek legal counsel. Get the recommendation of a qualified attorney, seek a second opinion. Many attorneys will provide an hours worth of consultation and offer their advice. If you have to spend a couple hundred dollars, it could save you thousands in the long run.