Dont you just love it when the news media whitewashes what the banks have done? Read the whole article & youll never know what they were really doing - illegally stripping the titles from mortgages property so the could be packaged into those toxic derivative traunches again, exactly what they did to lead to the crisis of 2008. Only now they have exposure of MANY times more than they did back then. Some people have paid off their homes, sold them only to be sued later because they didnt have a clear title, all b/c of the way the bank (illegally) did this. Your local bank was probably honest, but they immediately sell your mortgage to one of these illegal operators. It is estimated that over 90% of mortgages are handled this way now (since about 2005. If your mortgage, or the mortgage on a house you are considering is older than that, you are probably safe. These toxic titles will NOT show up in a standard title search, it takes a specialist to find them for you. m.washingtonpost/business/economy/banks-pay-out-31-billion-to-homeowners-in-federal-mortgage-settlement/2014/07/07/6b439b08-0612-11e4-bbf1-cc51275e7f8f_story.html?wpisrc=nl_politics I will edit & post a good link about these toxic titles later. For some reason my connection is really slow this AM. And the search engines are clogged with articles from the banks perspective, how they cant foreclose b/c of them. You have to really dig to find the innocent paying homeowners stories, but I assure you, they are not uncommon.
Posted on: Tue, 08 Jul 2014 12:46:38 +0000
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