Foreclosures continue, up 158% over last year, modifications are difficult, the Chapter 13 bankruptcy law has yet to be reformed, what to do?
Just stay in your foreclosed home says one of our politicians.
There are foreclosure defenses. In order to foreclose, the mortgage company must prove it owns the mortgage.
With all the buying and selling and transferring, unrecorded assignments, many mortgage companies, nearly half, do not have proof they hold the mortgage.
You are not likely to get a free house, but making the mortgage company prove it actually owns the mortgage gives you leverage in getting a modification.
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