N.C. Supreme Court Weighs Whether Foreclosures Need Original Documents

North Carolina’s Supreme Court heard arguments in a case that could decide whether mortgage lenders can foreclose on a home without producing original documents that prove they are owed the money, the Associated Press reported.

The court heard from attorneys representing Wells Fargo and a Duplin County homeowner whose $50,000 loan was transferred to a series of secondary financial companies.

Lawyers for Linda Dobson of Magnolia, NC argued that Wells Fargo and its affiliates cannot foreclose on her home without producing the original promissory note proving they are due the debt, something they have not done after more than three years.

Wells Fargo attorney John Mandulak said it has not produced the original loan documents yet, but might be able to do that if the court agrees to revive its case and send it back to a lower court for trial.