[quote=jpinpb]They talk about investors in the pool who may later try to get recovery for the losses.[/quote]
jpinpd, I DO believe this will happen. All these “investors” are not gonna just “sign away their rights” (in a “short-sale” or “deed-in-lieu” transaction) without something in it for them. That is, unless they’re “wiped out” by non-judicial foreclosure. Even then, I see some of them suing if they perceive the defaulting trustor has assets, even if they bought the note for a fraction of its face value.
[quote=jpinpb]She even said that something to the effect that someone buying a place today might have problems 2 years from now if a bank comes back and says they are the rightful owners of the loan and have title to the property.[/quote]
For the life of me, even though this MERS mess has been well-known to all the “players” for months, mortgage loans are STILL being recorded TODAY in the names of “MERS” or “[Name of Servicer] and MERS.” I find this absolutely astoundingly unbelievable!
