[Prokopton]

I'm with you, though...I think the successors of the bankrupt mortgage concern are probably going to respond to this guy by filing suit within the three year period. It's not like the interest held by the defunct mortgage company just disappeared...they have some successors somewhere. I'm pretty sure this squatter will be hearing from them at some point, given this publicity.

My take also. This reminds me of the threads (where I was attacked on a regular basis) about how all of the people who didn't pay there mortgage would now own there homes free and clear because someone in a law firm signed for someone else. It's more a fantasy then reality.

[JerseyHighlander]

There are a huge number of original mortgage documents that have been lost to warehouse space or shredders. CHain of custody problems could lead to this mortgage written by a now defunct mortgage company, improperly pooled into a CMBS and sold to a thrid party, and the third party then sold the CMBS garbage to a TBTF bank at discount, the TBTF bank then sold the CMBS at face value to the Fed window....

meaning there is no one in the country who cares about this property.

I’m 100% sure that is the case with at least 800,000 mortgages sitting on the Fed balance sheet.