part of the problem is that the banks that lent the money are gone
The notes were divided up (derivatives) and repeatedly resold in pieces without any chain of title
the homes in forclosure are just the tip of the iceberg
MERS and such were created to become a clearing house for loans without any assignment of the mortgages in an attempt to cover up the clouds on the titles and avoid filing fees to the various county clerks
it's clearly fraud and they have been creating false documents and submitting them to the courts in an effort to forclose on homes and some judges have been rubber stamping the frauduland documentation churned out by the forclosure mills representing MERS
why should anyone (deadbeat or current) pay their mortgage to someone who has no clear claim to the debt?
It's a slow train coming and when it gets here you may find that you have been paying your mortgage to an entity who doesn't own your mortgage
the banks are trying to strike a deal with the various states attorney generals to avoid prosecution for the fraud and given the mountains of litigation the state AGs are folding
you may find that you will never get a clear title to your home even if you pay off the mortgage and/or someone else may make a claim against your property for the divided debt
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The banks committed fraud when they “sold” interests in all those mortgages, without filing that pesky little $35.00 property fee as mandated by law, each time the “mortgage” was sold.
MERS electronic tracking does not count. The banks elected to separate the property titles from the debt, to save the fee.
The banks made a ton of money, selling a share of what are now essentially unsecured loans to “investors”.
What banking or investment entity(s) have true legal claim to the property title?
Massive, systemic banking fraud is happening here.
Time for all parties involved to not only lose both property and money, but also to pay fines for RICO.