You Need To Watch This! – 60 Minutes Overtime

Who really owns your mortgage?

| Sun Valley Real Estate

Posted

by

in , , , with

Scott Pelley explains a bizarre aftershock of the U.S. financial collapse: An epidemic of forged and missing mortgage documents

Do you know who really owns your mortgage? As Scott Pelley reports on “60 Minutes” this week, that question has become a nightmare for many homeowners since the invention of mortgage-backed securities. Yes, those were the exotic investments that sparked the financial collapse in this country. And the’re still causing problems.

As it turns out, Wall Street cut corners when it bundled homeowners’ mortgages into securities that were traded from investor to investor. Now that banks are foreclosing on people, they’re finding that the legal documents behind many mortgages are missing. So, what do the banks do? As Pelley explains in this video, some companies appear to be resorting to forgery and phony paperwork in what looks like a nationwide epidemic.

Even if you’re not at risk of foreclosure, there could be legal ramifications for a homeowner if the chain of title has been lost. Watch the “60 Minutes” report and listen to Pelley’s discussion with “60 Minutes Overtime” Ann Silvio about the findings of his reporting team.

via .

Category:

, , ,

to .

Weather Forecast: Sun Valley, Idaho

Select Category

Advertising

Areas

Auction

Bellevue

Biography

Buying

Codes

Construction Related

Consumer Behavior

Credit Related

Elkhorn

Energy

Expired Listings

Featured Listings

Financing

Foreclosure

Green

Hailey

Home Networks

Incentives

Inspections

Internet

Ketchum

Market Update

Marketing

Mortgage and Loans

New Listings

News

Photography

Profiles and Surveys

Recent Changes

REOs

Selling

Short Sales

Short Sales

Sun Valley

Uncategorized

Warm Springs

43°F

Clear

Humidity: 76%

Wind: W at 7 mph

Windermere Real Estate, Sun Valley – Hailey, Idaho @ George Martin, Jr. Associate Broker

Aly Chiman

Aly Chiman is a Blogger & Reporter at AlyChiTech.com which covers a wide variety of topics from local news from digital world fashion and beauty . AlyChiTech covers the top notch content from the around the world covering a wide variety of topics. Aly is currently studying BS Mass Communication at University.