Sloppy lender records does not void foreclosure

http://blogs.reuters.com/christopher-whalen/2010/10/20/everything-that-americans-once-knew-about-home-mortgages-but-should-ask/ Thus when that young activist lawyer is telling you and yours to fight a foreclosure — this even though you have not paid the mortgage in more than six months — it is time to start looking for a new place to live. ...the most important thing for all consumers to... [more]

http://blogs.reuters.com/christopher-whalen/2010/10/20/everything-that-americans-once-knew-about-home-mortgages-but-should-ask/ Thus when that young activist lawyer is telling you and yours to fight a foreclosure — this even though you have not paid the mortgage in more than six months — it is time to start looking for a new place to live. ...the most important thing for all consumers to understand is that when a mortgage is in default, the fact that the title records at the court house are in disarray does not void the mortgage note nor does it change the fact that the loan is bad. Foreclosure is a tragedy for one family, but an opportunity for another and the means by which communities and financial institutions defend their tax base and financial health. This process of liquidation and sale is why the U.S. will recover from the housing mess. The bad guys in the housing bust are not the banks who must foreclose on homes, but the politicians in both political parties who used reckless housing policies to further their personal interests. This is a bipartisan national scandal. Barney Frank, Chris Dodd, Phil Graham, Alan Greenspan and their contemporaries are the authors of our collective misery, not the local banker who must clean up the mess created by government intervention in the housing market. [less]