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The Real Foreclosure Crisis: Who Owns the Mortgages?

Quicklink Submitted By Sheila Samples 2 comments

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If more courts agree that mortgage ownership cannot be proven then vast numbers of foreclosures can't occur until the actual loan owners go to court. At the same time, if loan ownership is unclear then what's the real market value of mortgages now on lender books or securities backed by bundles of mortgages? And what if a thorough audit shows mistakes such as the ownership of one mortgage by several lenders or mortgage-backed securities? We may soon find ourselves in a financial environment where foreclosures are stalled, mortgage ownership is unclear, asset values are uncertain and the foreclosure problems of the past few years will be minor and minimal when compared with issues which lie ahead

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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