Professional Soldiers ® - View Single Post - Obama won't sign bill that would affect foreclosure proceedings

nmap · 10-07-2010, 18:02

LINK

Excerpt:

Millions of U.S. mortgages have been shuttled around the global financial system - sold and resold by firms - without the documents that traditionally prove who legally owns the loans.

Now, as many of these loans have fallen into default and banks have sought to seize homes, judges around the country have increasingly ruled that lenders had no right to foreclose, because they lacked clear title.

More at the link.

10-07-2010, 18:02	#3
nmap Area Commander Join Date: Jun 2007 Location: San Antonio, Texas Posts: 2,760	LINK Excerpt: Millions of U.S. mortgages have been shuttled around the global financial system - sold and resold by firms - without the documents that traditionally prove who legally owns the loans. Now, as many of these loans have fallen into default and banks have sought to seize homes, judges around the country have increasingly ruled that lenders had no right to foreclose, because they lacked clear title. More at the link. __________________ Carpe diem quam minimum credula postero Acronym Key: MOO: My Opinion Only YMMV: Your Mileage May Vary ETF: Exchange Traded Fund Oil Chart 30 year Treasury Bond
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