Millions of Americans are caught up in the mortgage mess, with local foreclosure rates currently double what they were in 2008. But a little-known practice, which some attorneys believe can buy those racing to save their homes valuable time, is gaining popularity.

Kerry McConnell works in the automotive industry, and his monthly commission has taken a hit of late.

“My salary decreased approximately $2,000 a month in the last year,” McConnell said.

This drop in income meant McConnell and his wife soon fell behind on mortgage payments. They tried to work with their lender but attempts were ineffective, and the couple found themselves facing foreclosure.

“We built this house, you know, lived here,” McConnell said. “It’s the home of our kids and it’s a struggle.”

The McConnells decided to contact well-known foreclosure attorney Jonathan Stein. He advised them to tell their lender to “produce the note” – or, in other words, find and show the couple the actual mortgage note stating they are in debt.

“Produce the note is a legal strategy we use to force banks to show us that they’re the proper party to foreclose,” Stein said.

The request to produce the note seems simple enough. But professor of law Katherine Porter claims finding the piece of paper can be difficult.

“In today’s market, with huge banks and changes in the financial industry, it will sometimes take the lender three, six or even nine months or a year (to find it),” Porter said.

During the last decade, it became a common practice among lenders for one to sell a mortgage to another, and Porter believes the official paperwork was often misplaced or accidentally destroyed in the process.

“In 2007, I did a study of homeowners who filed bankruptcy to try to save their house,” Porter said. “The note was missing 40 percent of the time.”

Families like the McConnells thus have the right to request that a court block foreclosure until the lender can produce the note. This gives them additional time to re-negotiate a deal, find a new home or sort out their finances.

“It keeps hope in the back of our minds,” McConnell said.

Porter and experts cautioned that the produce the note strategy is a gamble, and do not recommend home owners facing foreclosure practice it as their first line of defense.

(Source: WCBSTV)