Friday, June 22, 2012

Numerous servicing companies

Ran into a real estate acquaintance today who is going through all the stuff we have been going through.  He was a Realtor, still is, with multiple properties when the world collapsed.  Shocking I know, no banks would work with him either.  He is going on three years in his primary residence with multiple threats of foreclosure, however the servicers of his mortgage, about seven different ones on his one loan--don't know who owns the note.  And how you may ask does this happen, way too easily, and we as the American public have absolutely no recourse.  The banks were able to buy off our individual rights to sue them for proof of the note at both the Federal and State level.  Does it make perfect sense now---our government bailed the banks out and then took their payoffs to remove our rights.  Democracy at it's finest. 

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