Reply #3: That's a very good idea, to demand the paperwork [View All]

[sabrina 1]

that proves they are actually the holders of the mortgage note. As it becomes more clear that in the greedy rush to make money, many mortgages were transferred without the proper paper trail, even people who are not in financial trouble now, could run into a problem when they do try to sell their homes later on.

Several court decisions have made it clear that more and more judges are beginning to make these banks produce proof that they have the right to foreclose.

Buying a fore-closed home is now very risky as more and more people could challenge the legality of the fore-closure later on.

From what I have learned, any mortgage that was passed from one lender to another, and especially if any of those lenders were listed with MERS, may have been securitized. If so, then there are investors who also may have claims and in some cases recently, have begun to step forward.

The bundling of mortgages has created a huge mess that could have ramifications for years to come and it was all for greed.

Yet, there doesn't seem to be any effort to find and hold responsible, those who caused this disaster in the first place.