What exactly does this all accomplish? Destroying what little confidence is left in the financial markets? Giving deadbeats free houses free and clear?
It upholds the rule of law.
Otherwise, any bank, anywhere in the mortgage industry, could claim that they can foreclose on you.
We have laws for a reason.
Accomplish? It restates simple title law. If you don’t have the title, you don’t own it. Pretty much a basic thing in a functioning Republic.
Well a few things that it accomplishes is that no matter how big your ‘To Big To Fail’ company is it has to abide by the same law that everyone else has to. It also establishes that no matter how much forgery, perjury and Fraud on the Court you commit the law is the law and will be up held.
As far as people’s failure to abide by a civil contract that is and continues to be wrong, but it is dwarfed in comparison to the massive, blatent racketeering which sought to undermine the very rule of law on which this country was founded and whcih makes a Republic work.
Geez, it only took 2 posts for someone to come out and equate the breach of a simple civil contract to massive criminal fraud, theft, and greed on a scale so huge its almost unfathomable.
PS - the “financial markets” have no one but themselves to blame.
If by "deadbeats" you mean the banksters, then yes.
You are clueless.
And the biggest “deadbeats” are the lowlife bankers who created money from nothing to loan it out at interest.