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Loan Modification
: Mortgage Lender Implode-o-MeterProf says banks undermined traditional property system
By Implode-Explode Heavy Industries
" The nation?s traditional property ownership registration system has been undermined by banks in their rush to process mortgages during the great real estate bubble, with consequences that now include a legal quagmire and huge financial liabilities for some of the nation?s biggest financial institutions.
The fallout could rumble through the U.S. homeownership system for years, Christopher Peterson, a University of Utah law professor and recognized legal expert on the nation?s mortgage crisis, said at a forum Monday on the legal issues surrounding the surge in foreclosures."
Full post as published by Mortgage Lender Implode-o-Meter on November 09, 2010 (boomark / email).
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