“you WILL NEVER KNOW IF THE FORECLOSING PARTY HAS “ANY” RIGHT TO FORECLOSE!!!”
If I pay my mortgage, I’m pretty sure that they don’t have the right to foreclose. If I don’t pay, I don’t care who forecloses.
Doc 2Brains,
When your original lender sells your note and the new buyer securitizes it after taking an image copy then destroying the original, you won’t know it.
Not unless you think to ask for the original note back when you sell your property. When they can’t send it to you, the title is clouded, and how much is your property worth if you can’t get the title insured for the new buyer?
The point of this blog posting is that the banks are repackaging and reselling the SAME loan to multiple trusts.
The banks would like all of us TAXPAYERS to believe that these mistakes are just little boo-boos and there is no deliberate fraud intended..and with the help of our so called government..it looks like they are going to get away with it.
I will let you figure out the fallout from this.....here is a clue....TARP II
If I were you, I'd go down to the county offices and see who the records show a the owner of your mortgage. If it isn't the entity to whom you've been sending checks, you have good reason to be worried. If it isn't, you'd better contact the entity to whom you've been sending checks and tell them there will be no more checks until they record the transaction with the county.
Does this mean, they don’t know which Country owns the loans(homes), because they were sold around the world....
What if four parties try to foreclose and there is only one property?
What if you can’t sell your home because it cannot be determined who has deed and title?