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"CNBC: How Deep Does It Go? (video)


Entry #2,330


Comment by GASMETERGUY - October 13, 2010, 3:56 pm
Maxine Waters? Really? That woman has not a single functioning brain cell. Who cares what she has to say? Certainly not me.

As for the foreclosure mess, we know who owns the house..the family paying for it. As to who owns the title, that might be a whole lot more confusing. In any event, the owner of the mortgage will eventually come out of the woodwork because he/she has money invested.

The bigger problems are the number of mortgage defaults happening all over the country. People who have no means of repaying the loan are defaulting. That much is certain. Among those defaulting are people who can pay their mortgage but, seeing the confusion among the banks and freddie/fanny mae, have decided to stop paying until all the smoke clears. I know if my house were still in mortgage, I would withhold payments until I knew for certain that, when paid in full, I would retain clear title to my house. The issue now is becoming, "Who holds the mortgage? Who will give me clear title to my home?"
konaneComment by konane - October 13, 2010, 4:52 pm
Thanks Gasmeterguy! My head is ready to explode from reading all the info I've posted. It's a convoluted mess to which I hope rule of law already on the books regarding real property conveyance holds fast. Considering what we've seen happen from our current 'rulers' am hoping but not holding my breath.

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