There used to be a TV show, weekly, called appropriately "THAT WAS THE WEEK THAT WAS". It provided a satirical review of the weeks happenings - especially politics. Kind of like a fast paced, hit-a-run version of John Stewart. Actually, "The Daily Show" is a modern day iteration. This Is The Month That Was
:FORECLOSURES1. Foreclosures still moving at a brisk pace
. Some slowing but due to paperwork issues. The mortgage servicers, led by the Mortgage Backed Security Investors, want to foreclose, and actually do so, even when they do not have the legal rights. IT GOES LIKE THIS :a.
You get a loan from the "We Saw You Coming Mortgage Company"b.
The mortgage company has already sold the loan to a large bankc.
The holder of the mortgage only
(not the note, the I.O.U.) is company called MERS, short for Mortgage Electronic Registration System. This is mortgage industry registry to avoid recording mortgage transfersd.
The loan is "sold" into a Pool of 3000 other loans paying the Bank for its investment in your mortgage.