Holy Toledo Batman banks maybe foreclosing on mortgages they don't own.
What? How is that possible?
Didn't the banks package most of their mortgages and sold them off?
Didn't we the taxpayers buy what is called toxic mortgages?
I'm guessing that the banks worked as middle and collected the mortgage payments?
If my guesswork is correct (and I'm only guessing) the real owner of the mortgages are the tax payers.
Now if if my craziness is correct the owner of the homes in default may just be the the person who is in default because they are taxpayers, and taxpayers own the mortgages. The person who owns the mortgage is the person who took the mortgage out. I realize this may be circular logic put it fits.
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