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Old 10-08-2010, 05:40 PM
 
Location: Wherever women are
19,020 posts, read 25,506,097 times
Reputation: 11309

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If the banks robo-signed them and accelerated the foreclosure, what does this mean for the slew of people who rushed to buy these foreclosed homes across America?

Will they be voided?

Are all major banks in a serious soup right now??

Does that mean stocks like BAC are doomed??

I can smell the advent of a new mortgage crisis. And it's not even begun yet but it's leaving large ripples.
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Old 10-08-2010, 09:30 PM
 
Location: Wherever women are
19,020 posts, read 25,506,097 times
Reputation: 11309
It's worse than I thought.

Mortgage-Title Fraud: A National Catastrophe -- Seeking Alpha
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Old 10-10-2010, 11:38 AM
 
Location: Columbia MO
1,694 posts, read 1,858,084 times
Reputation: 2032
Don't buy stock in companies with large title insurance operations-- they'll be called on to defend the foreclosure buyers' titles. But the foreclosed former homeowners are going to have to be prepared to either catch up on their mortgages or pay the entire balances on the mortgage-- otherwise, all they're doing is killing some time. The foreclosed mortgages themselves are probably valid, but the foreclosures probably aren't.

I admit, having grown up professionally in the mortgage business, there is a part of me that is loving this. Greed kills.
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