Foreclosure Defense Florida

Bloomberg Reports on Foreclosure Hell

Foreclosure-Limbo-BloombergTheir most recent lender, American Brokers Conduit, transferred custody of the loan to Mortgage Electronic Registration Systems, a digital database owned by huge lenders such as Bank of America (BAC). When the Hassells defaulted in 2008, MERS kicked the debt to American Home Mortgage Servicing, a company that specializes in handling subprime mortgages. AHMS filed a foreclosure suit against the Hassells”ā€¯admitting in court papers that the couple’s promissory note had been “lost, stolen, or destroyed.”

Yet Matthew Weidner, the Hassells’ lawyer, is still fighting the claim. “This is a microcosm of the financial crisis,” he says.

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