This has been going on for years....60 Minutes is kinda late to the ball game
I guess it will be a little harder now for the Bankster supporters to spew their Business Socialist/Free Trade Communist Globalist “they’re all deadbeats” rant....and push for more Bank Bailouts
This is what title insurance is for.
Don’t buy cheap title insurance, buy good title insurance from a reputable insurance company.
Yet another reason among many why in my opinion these so-called mortgage backed securities ought to be 100% illegal.
Sounds like there are very few honorable players in the mortgage business. The only REAL victims are the ones who did the right thing. Not your daddy’s America anymore.
Got mine from a credit union that does not sell their mortgages and thank God I did.
These people are not being "defrauded", they did not make their required payments and defaulted. No one is being kicked out of their house who made all the required payments.
I do not call them deadbeats, there are many reasons people default on their mortgage, but neither are they "victims".
Why isn’t Pelley looking into Obama’s background?
Huh?
That would be me.
"O.K., I can't make all more mortgage payments, but my bank used shoddy document handlers so they should have to take a haircut on the principal amount of my mortgage, to the point my payments are down to a level I can afford"
Cleaning up the paperwork should not require ignoring the facts of actual defaults and getting the foreclosure rate down sooner by foreclosing sooner; not stalling.
Where a homeowner raises a question as to who is his proper creditor (i.e., who owns the mortgage), the homeowner should be permitted to deposit his mortgage payments with the court until it is determined who holds the mortgage. Courts should have no patience with homeowners who want to use the confusion to just avoid paying the mortgage. They should be tossed into the snow.