Thread: Trillions in Loans in Doubt Due to Paperwork Snafus

Trillions in Loans in Doubt Due to Paperwork Snafus

Who’s got your loan papers? Bet even the bank you send your check to isn’t so sure.

Many bankers have lost the notes on the subprime loans they made during the earlier go-go years of this decade. The estimated total of these "orphanedâ€

"It's happening across the country, in California, Massachusetts, Kansas and New York. In Ohio, a federal judge dismissed 14 foreclosures cases in November for lack of proper ownership papers."

It serves those predatory lenders right!!!

I remember back when my stepfather died and we were trying to straighten out his finances (he owned seconds on a lot of property) we had the files and there were pictures attached, the only problem was some of the pictures didn't match the house address. They were of the house next door or down the street. It turned out that the Savings company was taking advantage of a senior citizen by misrepresenting what he was actually paying for. Point is I don't know that their picture taking will solve the problem. Crooks are crooks