Friday, October 15, 2010

Should we root for a foreclosure freeze?- Home financing - MSN Money

REad the full article.The calls to action at the end. The video is great article so click on over and watch it. We need to ensure frauds are criminally filed. ALMOST ALL homes are wrongfully foreclosed according to some. Servicers are not the creditors.. some homes have had 3 or 4 servicers trying to foreclose.

Should we root for a foreclosure freeze?- Home financing - MSN Money: "To say it's a mess understates the problem. By failing to follow legal procedures, at least some lenders apparently have repossessed homes improperly. These sloppy procedures, along with the packaging and resale of most mortgages�as investments, means it's hard to identify exactly who owns many loans. (If you're curious about how mortgage 'securitization' works, The Washington Post has this excellent, clear primer.) If homeowners and banks can't prove they own their properties, the big economy-pumping business of real estate can't really function.

Would a freeze help?
It sounds satisfying to just force a stop to the madness, but a foreclosure freeze could further damage the economic recovery. This Wall Street Journal article (at MSN Real Estate) says"

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