One of the biggest (and largely unaddressed) issues affecting all of Foreclosuredum is the inability to get a clear idea who owns the note and mortgage being sued upon. In many cases, it feels like a moving target and in an alarming number of cases the alleged ownership really does change right in the middle of the case.
In state courts there are alarming numbers of Ex Parte Substitutions of Party Plaintiff and assignments of bid and other very clear and specific actions taken by the dark and shadowy forces that operate the American mortgage market to shift and change and exchange the ownership of millions (billions?) of dollars in mortgages in property in foreclosure.
The fact that not many people care about this major issue is truly disturbing. Some folks are still stuck in the “the borrower owes this money to someone” mode, while others clearly get the fact that we owe a very real obligation to our national economy and probably to our national security and sovereignty to have real answers to the most basic question…
“Who Really Owns All This Mortgage Debt?”
Two opinions, two courts from either side of the country……..