What You Don’t Know about “Mortgagegate” Could Crush the U.S. Banking System

Money Morning ^ | 10/15/2010 | Shah Gilani, Contributing Editor, Money Morning

[DeaconBenjamin]

I’ll do you one better. I’d gladly send you paper Imperial Reichsmarks for any barbarous relic you have lying around.

[phockthis]

sfl

[dennisw]

Barbarous relic? I know nothing! Never heard of it!

[Neidermeyer]

What are my rights in this instance? If the bank forecloses on the house and my landlord contests it, where do I stand, legally?

***************************************************
You’re OK ... IF YOU RECORD THE LEASE CONTRACT at the clerk of the court ... A law was passed in May of 2009 that guarantees that valid recorded leases would be observed in the case of a foreclosure.

[stephenjohnbanker]

The plot thickens....