In a new twist in the mortgage/foreclosure battles in the US, it appears that in their rush to bundle, package, chop and dice mortgages as investments, many of the lenders cannot easily produce the original note for the mortgage.
Borrowers are demanding that lenders come up with the paperwork at foreclosure proceedings and many cannot produce the paper.
This buys much needed time for the residents of these homes who may be out of work and may force lenders to work with the borrower.
This is not about borrowers who could never afford the home, but people who paid their bills and are now without work.
It is worth a shot, no?
How many times have i thought of the proverb, we toss the coin and God controls the outcome…