A report by Reuters sheds light into the convoluted system set up by Lender Processing Services, a mortgage and foreclosure contractor that processes about half of all U.S. mortgage loans.
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First they tell us in 2008 that the mortgages were bundled up and sold as collateralized debt obligations on the stock market.
ReplyDeleteNow the banks want to pretend like they still own individual mortgages so they can foreclose on them.
It is no wonder they are busy lowering interest rates to convince all of us to "refinance" our mortgages. They no longer have paper trails tying their claims to our mortgages!
Who owns the mortgage?
Where did the money come from?
How is money created in America and the world?
So many questions - so many houses