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Consumer Law

: Caveat Emptor

By Sam Glover

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Sure you owe somebody for your mortgage loan, but who? Since lenders buy and sell loans so frequently, many are unable to prove they own the loans they hold, resulting in as much as $2.1 trillion in “orphan” loans. Says former foreclosure victim Joe Lents: “If you’re going to take my house away from me, you better own the note.” Word. [via BoingBoing]

Full post as published by Caveat Emptor on February 27, 2008 (boomark / email).

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